Download - Startup tips for entrepreneurs part i
STARTUP TIPS FOR ENTREPRENEUR
PART ITRUNG NGUYEN @SIBERIAVN• PRODUCT MANAGER OF PROJECT LANA
• FORMER SENIOR INVESTMENT ANALYST OF IDG VENTURES VIETNAM
• CO-FOUNDER OF LAUNCH – VIETNAM INTERNET START-UP COMMUNITY
“Entrepreneurship Is About Those Who Dare To Dream The Dreams And Are Hungry And Foolish Enough To Try And Make Their Dreams Come True”
BEING AN ENTREPRENEUR IS BEING EXTREME… ARE YOU SURE ?
[1] START BY A DESIRE TO SOLVE A PROBLEM
IT’S A MUST OR A NICE?
WHO GONNA NEED IT?
HOW BIG IS THAT?
How Well Can You Solve?
Aspirin Vitamin Candy
HOW YOU MAKE MONEY ?
What motivate Customer to Pay
You?
Can You Monetize?
FREEMIUM VS. PREMIUM
AFRAID OF LOSING YOUR MEAL?
FIND SUSTAINABLE COMPETITIVE ADVANTAGE
BEING THE FIRST MOVER, AGILE, AND FAST ARE NECESSARY TO SURVIVE, BUT….
Not sufficient to succeed!
PEOPLE CAN COPY EVERYTHING FROM YOU EXCEPT …
[2] JUST GREAT IDEAS?
A dime a dozen!
IDEAS ARE …
NO ONE CAN MAKE THE NEXT ZAPPOS BY JUST READING A BOOK !
[3] EXECUTION IS EVERYTHING
IDEA IS JUST A MULTIPLIER
No Execution = $1Weak Execution = $1000So-so Execution = $10,000Good Execution = $100,000Great Execution = $1mBrilliant Execution = $10m
Awful Idea = -1Weak Idea = 1So-so Idea = 5Good Idea = 10Great Idea = 15Brilliant Idea = 20
XExecution is everything!
FOCUS - SUPER FOCUS
Solve One Problem And solve it Really Really Well
[4] A DREAM TEAM
A+ PLAYERS IS NOT ENOUGH
A+ TEAM IS THE MOST IMPORTANT!
Why Is Your Team the Best to Execute This Idea?
BUT DON’T JUST DREAM
[F]INALLY
FIND THINGS YOU DON’T KNOW
“Where most entrepreneurs fail is on the things they don’t know they don’t know.”– VinodKhosla
JUST REMEMBER1. Find Product – Market Fit
2. Gather A Players
3. Build A+ Team
4. Focus to solve problems really really well
5. Your barrier-to-entry are your customers
“STAY HUNGRY, STAY FOOLISH!” - STEVE JOBS
Life is 20% What Happens to You and 80% How You Deal With It
MORE ABOUT THISAuthor
• James Vuong
• VP, Investment & Technology - IDG Ventures, Vietnam
Speaker
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