k4 - stefano tresca (co-founder of iseed)
DESCRIPTION
Silicon Valley Comes to Imperial 2012TRANSCRIPT
THE STORY
BEHIND A STARTUP5 CHAPTERS
5 MYTHS 1 (BIG) TRUTH
Stefano L Trescawww.iSeed.co@startupagora
this is NOT me
this is me
*Made all the mistakes you can make already (and a bit more).
WHY ME 15 years in
startups of any size (up to 6.7 billions)*. Love to help young
startups.
#1THE IDEA
THE CHOICE
Myth #1Doing a
startup is cool.*
*I think it’s really cool
but ...
PAUL GRAHAMCo-Founder
Y Combinator
WHO IS RIGHT?
Working for a large company
is like waterboarding.
MY DADCo-Founder
of ... Me
Working for a large company has been the best decision
in my life.
WHO IS RIGHT?
They’re both right.
YESTERDAY working for a big company was cool. TODAY working for a startup is cool. TOMORROW ???
Do a startup because
YOU want, not
because they say is
cool.
#2THE IDEA
Myth #2A good idea wins every
time.
ARMANDO BIONDISerial Entrepreneur
Pick1.com
You “just” need to work 150% of your time. Sorry … I mean 250%.
You need a good IDEA, excellent EXECUTION, good TIMING, high PERSEVERANCE and some LUCK ... to start.**don’t forget to look for a good TEAM asap.
#3EXECUTIO
N
WARNING this is where I
get really unpopular with the professors.
Myth #3Work hard and you will be
rewarded.
As a startup CEO I slept like a baby: I woke up every two
hours and cried.
BEN HOROWITZEntrepreneur &Venture Capital
You WILL work hard but you can STILL die
broke.
Who is this man?
N. TESLA a genius
died broke
T. EDISON a genius died rich.
PROF. DENNIS GABOR, Imperial College London. Noble Prize.
JUST
CHECKIN
G
ON YOU
N. TESLA a genius
died broke
T. EDISON a genius died rich.
#4FUNDING*
*My area. I will be less emotional here ...
I have been rejected by 300 venture
capitals.
TIM WESTERGRENCo-Founder
Pandora
Other speakers are on the
professional fund rising today.*
*So let me provide a few practical
ideas for the beginners (all
tested).
• Friends & Family, your network is stronger than you think.
• Lower the lifestyle, start early or it’ll be to late.
• Sell your stuff on eBay, you can buy everything again later.
• Work in your free time, simple mindless task (deliver pizza, TaskRabbit, etc.).
• Public or students competition, even if you lose you’ll promote your startup.
During the night I was
working as a dubber on
Elance.
YOU DON’T TRUST ME?
CHRIS SACCALowercase Capital 2 billion manager
... but don’t forget to think big
•Hire a grant application specialist, they often work on a success fee.
•Hire a fundraiser, not simple but sometimes they work on a success fee (I do it if I like the project).
#5SO WHY A STARTUP?
SPENCER FRYCo-Founder
Carbonmade
It’s a struggle to save your
company’s life - and your own skin - every
day.
IT DOESN’T LOOK SO COOL ANYMORE !
No MythThe truth is ...
I don’t know !
But here I am and I can’t
imagine doing anything different.
Not all those who wander
are lost.
BILBO BAGGINGS
If you liked it tweet
@startupagora
THANK YOU !
