startup istanbul back to startup basics pre accelrator session 1 by ramialkarmi
TRANSCRIPT
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BacktoStartupBasics&Secretsoflaunching
SuccessfulVentures
Rami Al-Karmialkarmi
ramialkarmi
#BacktoStartupBasics
F03 VENTURE P A R T N E R S
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InsideGEMINI
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MasterJedioftheEntrepreneurship&LeanStartupEcosystemsOrder
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A ‘Kodak Moment’ for Universities…?
@gleonhard
not really… BUT….
The“KODAKMOMENT”
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Feel Free to reach out @alkarmi
Execu&veChairman
F03 VENTURE P A R T N E R S
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Feel Free to reach out @alkarmi
Chairman
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Feel Free to reach out @alkarmi
Mentor
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Feel Free to reach out @alkarmi
Execu&veViceChairman
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Feel Free to reach out @alkarmi
Execu&veViceChairman
Jordan
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Feel Free to reach out @alkarmi
AdvisoryBoardMember
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Feel Free to reach out @alkarmi
BoardMember
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Feel Free to reach out @alkarmi
Mentor Execu&veChairman
Execu&veViceChairman
Jordan
F03 VENTURE P A R T N E R S
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Fstart
theprogram
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ASK ALKARMI ON SNAPCHAT
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?
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HappeningNOW!AAending@sbcIstanbul#BackToStartupBasicsSessionw/@alkarmi
“ “
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Entrepreneur?
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Entrepreneurship Ecosystem
Entrepreneurs
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Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
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Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
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Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
UniversiQes
Professions
Management
Government
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Entrepreneurship Ecosystem
Entrepreneurs
VentureCapitalInvestors
CorporaHons
PotenHalacquirersStrategicinvestors
UniversiQes
Professions
Management
Government
PublicStockMarket
PoolsofPrivateCapital
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Entrepreneurship Ecosystem
Founders
Funders
Facilitators
UniversiQes
Professionals
Management
Government
PublicStockMarket
PoolsofPrivateCapital
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Entrepreneurship Ecosystem
Founders
Funders
Facilitators
UniversiQes
Professionals
Management
Government
PublicStockMarket
PoolsofPrivateCapital
� F
F03 VENTURE PARTNERS
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Runway ?
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Lifecycle of an Entrepreneur
Idea Formation Growth
Exit
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Business
Schools teach
OUTDATED Startup
tools
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�Valley of Death�
Research Grants Development Grants (eg SBIR)
Friends, Family, & Founders($5-$50k)
AngelInvestors($50-$500k)
Funding
Early StageVenture Capital($500k-$2M+)
Venture Capital($2M-$50M)
Private Equity,Project Financing($2M-$50M)
IPO, Merger, or Acquisition($2M-$50M)
Stage of Venture Development
Idea Basic Research
Applied Research
Proof ofConcept
Target Market
BusinessPlan
EngineeringPrototypes
SupplierContracts
ProductIntroduction
RevenueGrowth
ProductionPrototypes
DistributionContracts
Working Prototypes
Founding Team
NetCash Flow
➡ >95%ofstartupsfail➡ VCsfund1%ofsubmiAedbizplans
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It�sallaboutexecuQonofapredefinedplan
TheLeadingCauseofStartupDeath
ProductDev.
2Alpha/BetaTest
3LaunchProduct
4
WhereCustomer?
PitchInvestor
1CustomerDev.
5
Insidethebuilding
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No Business Plan Survives First Contact With Customers
Startups/New Ventures Are Not Smaller Versions of Existing Companies
Startups/New Ventures need their own tools
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From Yesterday's Outdated Tools To ...
Insidethebuilding
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Remove the fluff
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AgileDev.
CustomerDev.
BizModelCanvas
... Today�s Tools LeanStartup
Outsidethebuilding
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Business Model Canvas
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?
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Customer Development The Search For the Business Model
Company Building
Customer Discovery
Customer Validation
Customer Creation
Pivot
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Out of the building !
GET
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Keyhole
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$14 Billion worth of PREORDERS in 5 days
By April 7th : 325,000 PREORDER !
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1,000 songs in your pocket
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4GB MP3 Player 89mm X 41mm X 6.9mm 176 X 132 Pixel Screen 42.5 g weight
NOT
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Japanese Rice Cooker inspired the MagSafe laptop AC adapter
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BacktoStartupBasics&Secretsoflaunching
SuccessfulVentures
Rami Al-Karmialkarmi
ramialkarmi
#BacktoStartupBasics
F03 VENTURE P A R T N E R S
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108Top 20 Reasons
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#1 – Building a solution looking for a problem, i.e., not targeting a “market need”
#BackToStartupBasics 42%
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#2 – Ran out of cash
29% #BackToStartupBasics
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#3 – Not the right team
23% #BackToStartupBasics
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#4 – Get outcompeted
19% #BackToStartupBasics
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#5 – Pricing/Cost Issues
18% #BackToStartupBasics
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#6 – A “User Un-Friendly” Product
17% #BackToStartupBasics
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#7 – I got this product. Now I just need a business model.
17% #BackToStartupBasics
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#8 – Poor Marketing
14% #BackToStartupBasics
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#9 – Being inflexible and not actively seeking or using customer feedback
14% #BackToStartupBasics
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#10 – Release product at the wrong time
13% #BackToStartupBasics
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#11 – Lose Focus
13% #BackToStartupBasics
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#12 – Disharmony with Investors/Co-founders
13% #BackToStartupBasics
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#13 Pivot Gone Bad
10% #BackToStartupBasics
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#14 – Lack Passion and Domain Expertise
9% #BackToStartupBasics
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#15 – Location, Location, Location
9% #BackToStartupBasics
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#16 – No Financing or Interested Investors
8% #BackToStartupBasics
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#17 – Legal Challenges
8% #BackToStartupBasics
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#18 – Do not use your connections or network
8% #BackToStartupBasics
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#19 – Burn Out
8% #BackToStartupBasics
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#20 – Failure to pivot when necessary
7% #BackToStartupBasics
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#StartupBasics
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