founder institute presentation on startup team and advisors
TRANSCRIPT
![Page 1: Founder Institute Presentation on Startup Team and Advisors](https://reader035.vdocuments.mx/reader035/viewer/2022070512/588a000c1a28ab0f388b672d/html5/thumbnails/1.jpg)
@ETHANAUSTIN
HI FIVE!
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STARTUP SUCCESS=
75% HUSTLE +
25% LUCK @ethanaustin
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INCREASE YOUR LUCK BY SURROUNDING YOURSELF WITH AMAZING PEOPLE
@ethanaustin
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ORDER OF OPERATIONS1. CO-FOUNDER2. TEAM3. ADVISORS
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CO-FOUNDERS
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YES!!!!!
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OPTIMIZE FOR PASSION. EVERYTHING ELSE IS A NICE TO HAVE.
HOW DO I FIND THE RIGHT CO-FOUNDER?
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HACKER + HUSTLER.
YOU AND YOUR CO-FOUNDERS WILL CREATE THE LASTING CULTURE FOR THE COMPANY. CHOOSE WISELY.
WHAT IS THE IDEAL FOUNDING TEAM MAKE UP?
@ethanaustin
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THE ABSOLUTE MINIMUM AMOUNT NEEDED TO CREATE A FULLY CAPABLE TEAM (USUALLY 2-3 FOUNDERS)
HOW MANY CO-FOUNDERS SHOULD I HAVE?
@ethanaustin
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TEAM
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“AN INSPIRED AND PASSIONATE TEAM IS THE GREATEST COMPETITIVE ADVANTAGE A STARTUP CAN EVER HAVE.”
@ethanaustin
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“PEOPLE DON’T BUY WHAT YOU DO, THEY BUY WHY YOU DO IT.”
- Simon Sinek
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HOW DO I FIND THE RIGHT PEOPLE TO LAUNCH MY COMPANY?
FIND PEOPLE THAT CARE ABOUT YOUR “WHY”
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HOW CAN I RECRUIT PEOPLE TO FILL ROLES WHEN I HAVE LIMITED RESOURCES?
FIND PEOPLE THAT CARE ABOUT YOUR “WHY”
OFFER FREE CHIPOTLE (KIDDING)
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NOT KIDDING
FIND PEOPLE THAT CARE ABOUT YOUR “WHY”
OFFER FREE CHIPOTLE
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1. OPTIMIZE FOR PASSION2. HIRE GREAT ATHLETES + LEARNERS3. LATER ON, HIRE SPECIALISTS
HOW DO IDENTIFY THE RIGHT ROLES FOR LAUNCHING AND DO THEY CHANGE OVER TIME?
@ethanaustin
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YAY ADVISORS!!!
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1. CREDIBILITY2. DOMAIN KNOWLEDGE3. MENTORSHIP4. CONNECTIONS
WHY DO I WANT ADVISORS?
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1. USE YOUR ACCELERATOR2. ENTREPRENEUR GROUPS3. USE YOUR NETWORK
HOW DO YOU FIND THE RIGHT SET OF ADVISORS?
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JUST SAY HELLO :)
#1 BEST WAY TO FIND THE RIGHT ADVISORS?
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HOW DO I MANAGE MY ADVISORS?
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1. SET CLEAR EXPECTATIONS2. TREAT EACH RELATIONSHIP DIFFERENTLY3. PURPOSEFUL ENGAGEMENT
HOW DO I MANAGE MY ADVISORS?
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1. STARTUP SUCCESS REQUIRES LUCK.2. INCREASE YOUR LUCK BY SURROUNDING YOURSELF WITH GREAT PEOPLE3. TO FIND GREAT CO-FOUNDERS, TEAM MEMBERS AND ADVISORS, OPTIMIZE FOR PASSION.4. ONCE YOU’VE SURROUNDED YOURSELF WITH GREAT PEOPLE EVERYTHING ELSE JUST KIND OF WORKS OUT.
TAKEAWAYS