STARTUP BEST PRACTICES(OR WHAT WE’VE LEARNT OVER THE LAST YEAR OR SO)!

Minette B. Navarrete!KICKSTART VENTURES, INC.!September 2013!

First: an introduction"What is Kickstart, and why are they speaking here?!

Kickstart Ventures, Inc.An incubator-investment firm"

Funding startups in the Philippines!Seed to Series “A”!

Focus on digital and over-the-top businesses!

Training and mentoring!Active mentor pool!

Market access!SingTel network: 470 million subscribers in Asia!

Ayala Corporation affiliates in the Philippines!

Partnerships!Proudcloud (Launchgarage)!

Plug and Play Tech Center (Silicon Valley outpost)!Pollenizer (BuzzRun)!

Kickstart Ventures, Inc.An incubator-investment firm"

16 portfolio companies.!46 founders.!

83 jobs created.!169 candidates placed.!

200 commercial deals signed.!5,621 paying customers.!

147,455 users.!

The bottom line: We are new, experimenting, learning. !

Startup Best Practices"There is no playbook. But here’s what we’ve learnt.!

THE IDEA"“Big, hairy, audacious goal”!

Clear, compelling vision of the future!Clear finish line!

(James Collins & Jerry Porras, Built to Last, 1994)!

“Frighteningly ambitious startup ideas”!“just on the right side of impossible”!

(Paul Graham, 2012)!

BUT!

Driven by insight, hardened through validation.!Distinct “Top Right” vs. “Bottom Left”!

#VisionNotDelusion!

THE TEAM"T-shaped Team / T-shaped individuals!

Interdisciplinary approach / Multi-skilled capability!Deep expertise in specific team role!

Diversity!

Grit and Gumption!Ability to overcome constraints and adversity!

No Egos.!

OFTEN!

Education is important, but is trumped by experience.!Lone founder, unclear leadership, egos will undermine talent.!

#StartupOrchestra #OneConductor!

EXECUTION"Lean!

Constraints drive focus, simplicity, efficiency, creativity!

Customer First / Market Orientation!Customer/market validation underpins product, architecture, business model!

Data-driven!Articulated, prioritised KPI’s: OMTM!

Disciplined!Clear No-Fail goals + personal accountability for execution. No excuses.!

ALWAYS!

Execution determines the level of success.!#Planning≠BusinessPlan #TestMeasureLearn!

#LeanDashboardIsLove!

THE PRODUCT"

It exists.!

It works. And it improves over time.!

It has users. And usage.!

Paying customers.!

IN SUMMARY"

A robust idea.!

A diverse, disciplined team.!

Methodical execution.!

A product with happy, engaged customers.!

FOCUS"“The main thing is to keep the main thing, The Main Thing.”!

- Eric Clark Su, Founder, Lifebit!

Thank You"

angel.co/kickstart-ventures