socon09 keynote - jeff haynie

Experiences from the Valley

(Nine tips to survive the current crisis)

Jeff Haynie

JEFF HAYNIE

CEO, AppceleratorSerial Entrepreneur

Twitter: jhaynieBlog: blog.jeffhaynie.us

Houston, we’ve got a problem

1. Location. Location. Location.

1. Location.

What are these cities known for?

D.C. Nashville NYC LA

1. Location.

What is ATLANTA known for?

Old Media Hip Hop Bio Med Security

1. Location.

• MSA• Adam Software• Mindspring• ISS• JBoss

• Apple• Yahoo• eBay • Google• Facebook

Does location really matter?

2. Hire the best, fire the rest.

2. Hire the best.

Hiring the wrong people cost:

Time Money Culture

2. Hire the best.

Does the crisis offer opportunity?

Surround yourself with challengers.

3. Measure. Analyze. Confirm.

3. Measure.

To win the game, you have to know where the goal line is:

Use quantifiable data A/B test your theories Don’t be afraid to refine

3. Measure.

Venture backed business must think about “enterprise value creation”

4. Cash is King.

4. Cash in King.

Startups are largely a survival game:

Survival requires capital Reduce your burn by 15% Get more money (if you can)

4. Cash in King.

Let me say this again:

Conserve your cash Generate more cash Cut expenses Raise money if you can

5. Collaborate with your Community.

5. Take care of your community.

Your community is your lifeline:

Ask questions Engage through conversations Show your love Communication is key

5. Take care of your community.

Your community will listen:

Most times, communities tell you what they want even if they don’t know they are

6. Think Global, Act Local.

6. Think Global. Act Local.

Lots of great local activities:

Jelly / Co-Working Startup Riot / Startup Gauntlet Atlanta Web Entrepreneurs

6. Think Global. Act Local.

Exciting new funding opportunities:

Angel Lounge Shotput Ventures Tech Operators ATDC Edison Fund Atlanta Seed Fund

7. Have a Plan B & C.

(You’re going to need it)

7. Have a Plan B & C.

What’s that saying about best laid plans?

You’ll end up in a different place than you began - guaranteed

7. Have a Plan B & C.

Entrepreneurs:

Classically over-optimistic Terrible planners Stubborn

8. Build your network.

8. Build your network.

In the end, the world is about relationships.

LinkedIn Facebook

9. Ideas are worthless. Execute.

9. Ideas are worthless. Execute.

Your idea sucks.

Get heads down and execute Tell the world through success

The long road ahead

Shotput Ventures:

technology startup accelerator fund that focuses on capital-light web services companies and assists in the conception phase.

Shotput Ventures:

David Cummings Mitch Free Wayt King Sanjay Parekh Allen Graber Suleman Ali Dave Wright Jeff Hilimire

Shotput Ventures:

$5,000/team - $5,000/founder8 companies

March 6 – accepting apps May 18 – program starts Aug 10 – program completes

http://www.shotputventures.com

Nothing stands between you and your success.

(well, except maybe you)

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