BIG Markets BIG Ideas

Startups-> Take these ideas in considerations as it takes as much time to build a small idea than it does to build a big one !

  • Ideas -> Things (No value until it become a thing -> Build!)
  • Is your product /service a Feature, Tool or Product ? -> Value
    • Launch or Scale feature
    • Total adressable or serviceable market & Market at Launch
  • State of the Market
    • Are you selling to a Mature or Emerging market?
    • Pros & Cons of market stages
    • Market timing -> Too early or too late
      • e.g. is your market mature enough for your product?
  • Cost of Customer acquision
    • Can you go & acquire Customers at a reasonable economics?
      • B2B (you need s.o. to evangelize & sell your product)
      • B2C (How do you get people to refer your products)
  • You
    • Are you the right persone to deliver this product to this market
      • Go and find the right cofounder
    • From VC perspective if you try to raise VC money -> Can it be a multi billion € market ?

The Top 10 Mistakes of Entrepreneurs

Here's an excellent video of @GuyKawasaki from March 2013.

The Top 10 Mistakes of Entrepreneurs

  • 1) Multiplying big number by 1 percent (0:9)
    • Getting 1 percent is not that easy!
    • No investors wants to hear you only get 1 % !
  • 2) Scaling too soon (0:11)
    • No companies have died because it didn't scale fast enough -> High quality problem
  • 3) Partnering means nothing. Sales is important! (0:15)
  • 4) Pitching instead of prototyping (0:16)Prototyping is key
    • Everything free or cheap -> then show with a prototype-> show you can deliver
  • 5) Using too many slides and too small a font (0:20)
    • 10 slides /20 mns /30 point font
  • 6) Doing things serially (0:22)
    • Serial world in entrepreneurship does not exist-> it is a parallel world! It is not:
      • Raising money then
      • Build team then
      • Write software then
      • Collect
    • But all these parallel activities at once:
      • Raising money
      • Writing software
      • Prototyping
      • Selling
      • Recruiting
      • Collecting money
  • 7) Believing 51% = control (0:23)
    • In board meeting things don't come to a vote!
    • Moment you take outside money you've lost control of the company.
    • 51% is an illusion of control
  • 8) Believing patents = defensibility (0:24)
    • Patents realistically will not help you!
    • Years to file
    • You don't have the time & resources to defend your patent!
  • 9) Hiring in your own image (0:28)
    • Hire people who complement your skills
    • 3 types of people/ skills s o. to make it, s.o. to sell it & s.o. to collect it
    • Balance talent in your company!
  • 10) Befriending your VCs (0:29)
  • Q&A

Module 1

Une session de trois modules sur deux jours

"De l’instruction à la LOI" (Critères clés, Process d'instruction, Lettre d’Intention, Valorisation)

Module 2

"De la Négociation au Closing" (Valorisation, Table de capitalisation, Clauses)

Module 3

"Du Closing à la Sortie" (Gouvernance, Comité stratégique, Usage du Pacte, Conditions de sortie des investisseurs)