How to start a startup
- 1. How to start a startup
- 2. What is entrepreneurship? What is a startup? Wrong reasons to start a startup. ‘I have an idea, now what?’
- 4. “The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.
- 6. 1. Entrepreneurs are born not made. 2. Individual start companies. 3. Entrepreneur are the smartest people. 4. All leaders are charismatic. 5. Entrepreneur love risks. 6. Entrepreneurs are undisciplined.
- 7. 3. What is a startup?
- 8. “A startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed.
- 9. 4. Wrong reasons to start a startup.
- 10. 1. Money 2. “Khud ka Boss” – be my own boss 3. Fame 4. “Aur koi option nahi bacha.” – no option left
- 11. “To solve a problem. To make this world a better place. The correct reason:
- 12. 5. Do I need a cofounder?
- 13. “What would happen if a bus rams you down one day? The business dies. - Kevin O’leary
- 14. “"My partners ... taught me that in order to create wealth, I needed to pair up with people whose strengths compensated for my weaknesses." - Kevin O’leary
- 15. 6. ‘I have an idea, now what?’
- 16. A. Who is your customer? Who experience a similar need To whom you could deliver your solution at similar cost And who would buy it at similar price
- 17. B. Avoid Competition All happy companies are different Compete if you have a product that is 10x better.
- 18. C. Go for monopoly.
- 19. D. Build. Test. Improve your MVP. Ideation – Human centered design approach. Launch fast and Improve.
- 20. THE EQUITY SPLIT
- 21. Equity Split Start with equal equity split. Use vesting equity. 0 12% 25% 37% 50% - 1st year 2nd year 3rd year 4th year Company owenwership overtime 0 12% 25% 37% 50% Start 1st year 2nd year 3rd year 4th year Company owenwership overtime with cliff 12%
Editor's Notes
- #14: Problem solving can't be one-sided. Skills Split the early and out-of-pocket expenses. Distribute the stress.
- #15: Problem solving can't be one-sided. Split the early and out-of-pocket expenses. Distribute the stress.
- #16: Share it with friends and family and get their feedback. Don’t be afraid that your idea will be stolen.
- #17: Eg. Smart health bands. Target customers is Outgoing Active people aged between 18 to 40. Quote a course on edx. Entrepreneurship 101
- #18: Give example of Airline industry and Google. Google keeps 21% of it’s revenue as profit. While airlines keep a mere 0.2 %. Give example of iPod for 10x improvements.
- #19: Indian railways. Microsoft. Mobile Phones – Android in India, Standard Oil.
- #20: A minimum viable product is a product with only the core features. It’s developing a fast and decent enough product to be released with the purpose of testing the market.
- #21: Equity is the ownership of the company.
- #22: 1. Don’t worry the company will reincorporate.