CEO/Founder 101 2 nd Half Steve Mushero GLOBALTECH What to do when you get funded. What you need to think about ! What you need to worry about ! December

CEO/Founder 1012nd Half

Steve MusheroGLOBALTECH

What to do when you get funded.

What you need to think about !

What you need to worry about !December 12, 2000

GLOBALTECH – www.globaltech.com 2

Thanks

Startup University

www.startupuniversity.com

Get Out of The Garage


Agenda

Networking

Talk Getting started

More Networking, Beer & Food


Overview

Things to think about Wide-ranging Fast, high level Ask questions

Starting up Funding Growing / Running Operations


Me ?

Steve Mushero Entrepreneur BSEE, MBA (US/Japan) Communications,

networking, databases, large scale systems, integration & manufacturing

CTO, Biz-Dev, Sales Patents Push, Finance/Insurance,

Commerce


You ?

Founders Funded Not- funded Too crazy to be funded

Post founders Executives Service Providers

Consultants Recruiters

Randoms


We have money

Now what Life changes

OPM Board of directors New management Growth Challenges

Strap in ! Balance Think long term

Tomorrow, next week, month


Executives

CEO COO ? CFO

Later, use clerk/controller CTO

Choose an ‘executive’ person

VP Engineering Consider carefully vs. CTO Engineering Manager

VP Marketing VP Biz-Dev ? VP Sales ?


Running the Company

Executives as 1 voice/mind No divisiveness Counseling / Team building

Communication, continuous Honest Educate employees of

realities Adjust structure as needed Fire as needed Meet weekly

Execs & Company Build consensus

Delegate If you can’t, hire better

people


CEO Role

Raise Money Lead Delegate

No, really ! Letting go is tough

Communicate to investors monthly

Maintain board relationships Communication No hiding or no You !


New Executives

Many 1st time executives Consider

training/counseling Massive stress

Consider how to handle Productivity is key Teach delegation Teach time management Management by email Warn families Long term balance Watch politics

Incompetence = Bye, bye Use board / advisors to

help guide you


Managing Growth

Hire experience Cultivate managers Communicate often Explain goals Consider counseling Indoctrinate new

employees Several per week/month ?


Product Management

Don’t get ahead of yourself Demos drive planning

Prototypes Product Manager

Very early hire Real documentation

Do not skimp Requirements docs

In sync with specifications

Don’t get ahead of yourself Insure features match the

benefits you are marketing And customers’ needs


Engineering

Founder’s orientation & skills

CTO Get one, a real one

Outsource ? Std. technology vs.

proprietary Speed vs. Knowledge

Engineering people Product Managers (Marketing) Program Managers Manager Managers

Maintain buy-in to company goals/direction

Good practices, experience


QA

Test your stuff Outsource ?

Load test your stuff Scalability

Test data interfaces Ugly 80,000 pages of errors

Test financial stuff Bad to not receive revenue

$$


Marketing

Who are the customers ? Talk to them ! What would they say

about us if we interviewed them and how do we get them to say that ?

Value propositions Benefits, problem being

solved Positioning Find out what others are

doing


Early Customers

Pick carefully Commitments help raise

$$ Beta where possible Have formal coordinator

Love thy customer Don’t let early/large

customer have too much weight


Website

Privacy Statement matters ! Can always tighten, rarely

loosen Copyright notices Don’t often steal content Think about fraud & you


Sales

Inside vs. Outside Sales vs. Biz-dev

Semi-different skills Biz-dev not scalable

Consider pricing & revenue Need $25,000+ for sales

Sales people Sales manager Expenses Remote offices - $


Business Development

No, not Yahoo, AOL, or Microsoft

Investors’ Portfolio firms Value proposition

Help their business $$ flow – which way,

why ? Get experience people

Lots of wannabe’s


Finances

Cash management Weekly cash flow Capture payroll/taxes

correctly Leases, personal

guarantees Conserve cash Watch travel costs

Sales/Biz-dev especially

Be auditable Proper controls Photocopy checks Use Quickbooks from day 1


HR & Hiring

Outsource - askHR Execustaf.com – PEOs /

CoEmployers Watch legal issues

Interviewing Training (as you grow) Internet usage policy Employee Handbook

Free/cheap job services Recruiters – retainer,

contingency Use admins to manage Stock Options –

PLAN Pricing


Legal

No need for Staff Lawyer/GC Be proactive, get stuff early

Law firms busy Run all agreements, etc. by

lawyers Watch NDAs,

Only let officers sign Minimize mutual NDAs

Content and development indemnifications

No international India development

Watch laws E-Commerce, returns, $$

handling Privacy Statement matters !


Documentation

Technical Writers Manuals Website Technical docs


Support Groups

Customer Support Install, training

Technical Support Call center ? QA Overlap


Operations

IT Outsource parts

Real-estate Sublease Use services/brokers Plan, plenty of time Consider built-out

issues/time Stay together in one place

Travel Cheap, discounts


Insurance

Workers Comp (WC) General Liability (GL)

Include business interruption

Loss of equipment Get earthquake protection

Directors & Officers Key Man (and Woman)

Life insurance Physicals


Final Questions

?


Thanks !

www.globaltech.com 888-564-8004

This presentation:www.globaltech.com/events

Steve [email protected]

Documents

CEO/Founder 101 2 nd Half Steve Mushero GLOBALTECH What to do when you get funded. What you need to think about ! What you need to worry about ! December