My Startup Stories

Adrian BlakeSocial Media Contractors

November 19, 2013

What is a Startup?

• “A startup is a temporary organization designed to search for a repeatable and scalable business model”– Steve Blank

• “Entrepreneurship is the pursuit of opportunity beyond resources controlled.” – Howard Stevenson, HBS

Four Kinds of Risk

• Demand Risk– Does anybody want this?• Technology Risk– Can this actually be built?• Execution Risk– Can we actually deliver?• Financing Risk– Can I get it funded?

Where I’m Coming From

• Education• Television Business• Management Consulting• Turnaround/Publishing• Startups

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not

you

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not

you• Know what’s on your

boss’ agenda• Big organizations move

slowly

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not

you• Know what’s on your

boss’ agenda• Big organizations move

slowly

• A Business Solves a Problem

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not

you• Know what’s on your

boss’ agenda• Big organizations move

slowly

• A Business Solves a Problem

• High standards help• Frameworks help• Smart people help

Things I Learned Along the Way

• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not

you• Know what’s on your

boss’ agenda• Big organizations move

slowly

• A Business Solves a Problem• High standards help• Frameworks help• Smart people help• You can learn anything if you

shut up and listen• Sales, sales, sales• 3 Steps to Turnaround: Stop

doing stupid things, start doing smart things, change the people

TownCommons: Wikipedia for Omaha

Category AssessmentDemand Risk • High for readers

• High for AdvertisersTechnical Risk • LowExecution Risk • MediumFinancing Risk • MediumMarket • BadTeam • MediumIdea • Medium

TownCommons: Key Issues

• Business– Can we get the advertisers?– Are there enough events to get granular in our

segmentation (outdoors v runners)?– Can we do this in other markets?

• Personal– Can I do this while in a custody fight?

Mobile Green: SMS for Health CareCategory AssessmentDemand Risk • Medium for patients

• Medium for Providers and InsurersTechnical Risk • MediumExecution Risk • HighFinancing Risk • MediumMarket • GoodTeam • MediumIdea • Good

Mobile Green: Key Issues

• Business– Can we get a provider to actually test it before we run

out of money?– Can we get an insurer to commit before we run out of

money?– Do patients care?– Can we execute with a two-person geographically

remote team?• Personal– Can I do this while my father is dying?

SMC: Outsourced Social MediaCategory AssessmentDemand Risk • Medium– some will do themselves,

others avoid itTechnical Risk • LowExecution Risk • Medium– How to be distinctiveFinancing Risk • LowMarket • Medium– Growing fast, but no barriers

to entryTeam • MediumIdea • Medium

SMC: Key Issues

• Business– Can we reliably get and close leads?– Can we offer distinctive service?– Can we work with partner agencies?– Can we attract and close leads from outside

Omaha?– Can we execute with two very different leaders?

• Personal– Can I do this while working mommy-track hours?

SMC: Three Horizons

Omaha

Partners

National/ Direct

Takeaways

• A Business solves a problem. Small problem = small business

• Sales fixes everything• Overhead is fatal• Customers = 10x the scene• Fundraising = Enterprise Sales = Massive Time Sink;

Bootstrapping = Freedom• Avoid distractions. Don’t worry about Mastercraft,

SPN, and Silicon Valley; worry about your customers, your investors, and your team

Follow these guys

• Mark Suster• Steve Blank• Eric Ries• Hunter Walk• Andrew Chen

Good to Great

The Four Steps to the Epiphany

Man’s Search for Meaning

1.Search for Meaning

2.Commitment to Intellectual Integrity

3.Ability to Improvise

Q & A

• Ask me anything• I will keep questions in confidence; please

keep answers in confidence

Thank You

• Blog.socialmediacontractors.com• @adrianblake