What is a Startup?

WHO ARE THE TEAM CEOSA quick detour

The team CEOs• Ivan Afonichkin• Mary Chan• Andrey Feliciano de Oliveira• Juho Jalonen• Chandni Sharma• Christiaan Teeuwen• Tito Williams II

CEO pitches• You are NOT allowed to pitch a solution• Option 1: Pitch an interesting problem both in

MyCourses (ASAP) and in class (on Tue)• Option 2: Pitch yourself as a CEO both in

MyCourses (ASAP) and in class (on Tue)

BACK TO THE TOPIC

What is a Startup?

Based on the pre-readings and videos• What is a startup? What is not a startup?• Discuss in pairs for 3 min• Groups of four for 3 min• Groups of 8 for 3 min

Group Discussion

Steve Blank• A startup is a temporary organization formed

to search for a repeatable and scalable business model

Eric Ries• A Startup is a human institution designed to

deliver a new product or service under conditions of extreme uncertainity”

Paul Graham• A startup is a company designed to grow fast.

Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of "exit." The only essential thing is growth. Everything else we associate with startups follows from growth.

Dave McClureA 'startup' is a company that is confused about• What its product is• Who its customers are• How to make money • As soon as it figures out all 3 things, it ceases being a

startup and becomes a real business

• Except most times, that doesn't happen

Slide by Ken Singer

Slide by Ken Singer

• Lifestyle Startups: Work to Live Their Passion• Small-Business Startups: Work to Feed the

Family• Scalable Startups: Born to Be Big• Buyable Startups: Acquisition Targets• Social Startups: Driven to Make a Difference• Large-Company Startups: Innovate or Evaporate

Steve Blank’s Types of Startups

Source: http://blogs.wsj.com/accelerators/2013/06/24/steve-blank-the-6-types-of-startups-2/

More from Steve• A startup is an organization formed to search

for a repeatable and scalable business model.• The goal of your early business model can be

revenue, or profits, or users, or click-throughs– whatever you and your investors have agreed upon.

Even more from Steve• Customer and Agile Development is the way

for startups to quickly iterate and test their hypotheses about their business model

• Most startups change their business model multiple times

A startup is a temporary organization formed to search for a repeatable and scalable business model

For this course

Two different worldsSearch

(Exploration)Business model

Execution(Exploitation)

Business plan with knowncustomers, offering,

processes…

OFFICIAL ROLES IN A COMPANYA quick detour

Roles in a Company

Board of Directors

Chief ExecutiveOfficer (CEO)

Auditors

Shareholders (General Meeting)

AuthorityCEO (least power)

Board

Shareholders(most power)

PROJECTS IN DIFFERENT ORGANIZATIONS

• Discuss in pairs for 3 min• Groups of four for 3 min• Groups of 8 for 3 min

How are Projects Different in Startups?

Projects in Real LifeTime

Scope Budget

STARTUP LIFECYCLE

Valley of Death

Image CC https://www.flickr.com/photos/terchonline/5156883095/

Source: https://aptonova.wordpress.com/2014/11/01/how-to-escape-from-the-start-up-valley-of-death/

Next Deadline on 15th• Please upload both the video and the life plan

on time• The hand-in box will close 2100 sharp

What is a Startup?