a few tales from tetuan valley
DESCRIPTION
Mentor talk @bootcampdk (August 2010)TRANSCRIPT
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A few tales from @tetuanvalley
Copenhagen, August 2010
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CONTENT
24/08/2010
• The story behind @UnitedAccel
• What we do @OkuriVentures
• What we teach @TetuanValley
• Our recommendations for teams @BootCampdk
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The story behind @UnitedAccel
24/08/2010
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CONTENT
24/08/2010
• The story behind @UnitedAccel
• What we do @OkuriVentures
• What we teach @TetuanValley
• Our recommendations for teams @BootCampdk
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What we do @OkuriVentures
24/08/2010
ADVISORY TO INVESTORS
SWEAT EQUITY PROJECTS
TRAINING FOR
ENTREPRENEURS
INVESTMENT & SUPPORT
We support investors, education centres and entrepreneurs to increase the chances
of success for startups
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CONTENT
24/08/2010
• The story behind @UnitedAccel
• What we do @OkuriVentures
• What we teach @TetuanValley
• Our recommendations for teams @BootCampdk
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““The hardest thing about getting started is getting started.The hardest thing about getting started is getting started.” ”
Guy KawasakiGuy Kawasaki
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""When all think alike, then no one is thinking.When all think alike, then no one is thinking." " -- Walter LippmanWalter Lippman
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““The difference between the impossible and the possible The difference between the impossible and the possible
lies in determination.lies in determination.” ” -- Tommy LasordaTommy Lasorda
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““The Internet is becoming the town squareThe Internet is becoming the town square
for the global village of tomorrow.for the global village of tomorrow.” ” -- Bill GatesBill Gates
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““I didn't fail the test, I just found 100 ways to do it wrongI didn't fail the test, I just found 100 ways to do it wrong” ”
Benjamin FranklinBenjamin Franklin
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“Marketing is no longer about the stuff that you make, but “Marketing is no longer about the stuff that you make, but
about the stories you tell.”about the stories you tell.” − Seth Godin− Seth Godin
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““He who fails to plan, plans to failHe who fails to plan, plans to fail””
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“When the customer comes first, the customer will last”
Robert HalfRobert Half
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WHAT INVESTORS WANT…
24/08/2010
Target yearly
return
Holding period
(years)
Investment
death rate
Entry/exit
multiplier
25%+ 3-5 <20% x3,5
25%+ 3-5 >60% x10+
PE
VC
15%+ 4-7 >80% x20+BA
Source: Orientative
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…AND HOW THEY GET IT
24/08/2010
Shareholder return
Investment
multiplier
PE
VC
Source: Orientative
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UNDERSTAND BOTH SIDES OF THE TABLE
24/08/2010
http://www.bothsidesofthetable.com/understanding-vcs/
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REMEMBER GRAHAM’s MULTIPLIER
24/08/2010
1 / (1-n)
Source: http://www.paulgraham.com/equity.html
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CONTENT
24/08/2010
• The story behind @UnitedAccel
• What we do @OkuriVentures
• What we teach @TetuanValley
• Our recommendations for teams @BootCampdk
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1. TEST & PIVOT AS MANY TIMES AS YOU CAN BEFORE FUEL RUNS OUT
24/08/2010
““The successful person makes a habit of doing what the The successful person makes a habit of doing what the
failing person doesn’t do.failing person doesn’t do.” ” -- Thomas EdisonThomas Edison
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2. SET YOUR GOALS HIGH AND DON’T STOP UNTIL YOU GET THERE
24/08/2010
"Well, we knocked the bastard off !" "Well, we knocked the bastard off !" –– Edmund HillaryEdmund Hillary
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3. MAKE YOURSELF WORTHY OF THE OPPORTUNITY YOU HAVE BEEN GIVEN
24/08/2010
““My son is now an ‘entrepreneur’. My son is now an ‘entrepreneur’.
That’s what you’re called when you don’t have a job.That’s what you’re called when you don’t have a job.” ”
–– Ted TurnerTed Turner