Startup Tips Nov20 2008 P1

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  • 1. Startup Tips for Entrepreneurs Part I James Vuong VP, Investment & Technology IDG Ventures, Vietnam [email_address]
  • 2. Entrepreneurship is about those who dare to dream the dreams and are hungry and foolish enough to try and make their dreams come true
  • 3. So you want to do a startup
  • 4. Are you sure?
  • 5. Crucial Questions to answer for Yourself and Your Investors?
  • 6. Whats Your Value Proposition? Aspirin Vitamin Candy
  • 7. What Problem are You Solving? Or What Need are You Addressing?
  • 8. How Well Can You Solve That Problem? Can You Delight Your Customers?
  • 9. How Large is Your TAM (Total Addressable Market)? How Many of Those Customers Do You Have?
  • 10. What is Your Viable Business Model? Example: For web companies, its not just about growing traffic and users! Are Your Customer Willing to Pay You? Can You Monetize?
  • 11. Whats Your Sustainable Competitive Advantage?
  • 12. Being the first mover, agile, and fast are necessary to survive, but. Not sufficient to succeed!
  • 13. How Do You Erect Barrier-to-Entry?
  • 14. Ideas are
  • 15. Idea is just a multiplier X Execution is everything! NO EXECUTION = $1 WEAK EXECUTION = $1000 SO-SO EXECUTION = $10,000 GOOD EXECUTION = $100,000 GREAT EXECUTION = $1M BRILLIANT EXECUTION = $10M AWFUL IDEA = -1 WEAK IDEA = 1 SO-SO IDEA = 5 GOOD IDEA = 10 GREAT IDEA = 15 BRILLIANT IDEA = 20
  • 16. The Team is Most Important! Why Is Your Team the Best to Execute This Idea?
  • 17. Brain and Technology is Not Enough
  • 18. Missionary vs. Mercenary
  • 19. Trustworthiness
  • 20. Transparency
  • 21. Where most entrepreneurs fail is on the things they dont know they dont know. VinodKhosla
      • The Big Bad Unknown
  • 22. A Complete Team of the A Players The Village People - Y.M.C.A.
  • 23. Can You Solve One Problem Really Really Well? Focus, focus, focus!
  • 24. Entrepreneurship is about those who dare to dream the dreams and are hungry and foolish enough to try and make their dreams come true Go make your dreams come true!
  • 25. Stay Hungry, Stay Foolish! - Steve Jobs
  • 26.
    • If you have any questions or comments, Id love to hear from you.
    • Or send an email if you know:
    • A promising startup we should invest in
    • A great person we should meet
    • A great book/article/blog I should check out
    • Hope to hear from you!
    • James Vuong
    • [email_address]