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What It Costs to Run A Startup Broken Down by City

What It Costs to Run A Startup Broken Down by City | Pitch it! | Scoop.it
Staff.com’s infographic compares the cost of running a startup (getting an office and hiring two web developers and one designer) in various cities around the world.

From highest to lowest costs, these are how the eight cities selected ranked, based on annual costs to run a startup: Zurich, Switzerland; Sydney, Australia; New York; San Francisco; London; Paris; Mumbai,India; and Manila, Philippines.


The cost to run a startup in the US is about $297k in NY and $263k in SF per year.
The most expensive places to run a startup are Zurich at $315k and Sydney at $310k per year.
Web designer average salary is $79k in SF and in NY $76k at a startup.  
The cost of a web developer is $88k in NY and $81k in SF per year at a startup.
Startup office cost in the US: $46k in NY and $22k in SF per year.

To see the Infographic, click on the title.



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Marc Kneepkens's insight:

Very relative numbers. A lot of startups get started by web developers or a team of developers.

They usually start from their homes.

Location is not that important anymore.

Do some 'out-of-the-box' thinking. A Startup is not necessarily an expensive matter anymore. Be creative.

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Read This Before Meeting VCs For Pre-Pitch “Advice” - TC

Read This Before Meeting VCs For Pre-Pitch “Advice” - TC | Pitch it! | Scoop.it

Startups often ask VCs for pre-pitch meetings. These requests usually are positioned along the lines of, “We aren’t looking for money yet, just advice.” Of course, we all know this is just a nice way of getting your foot in the door for a soft pitch. And that’s ok; these meetings enable both sides to get acquainted before the real ask.

However, when startups come unprepared to these meetings, they can make a bad first impression that is difficult to overcome down the line. Before scheduling pre-pitch “advice” meetings with VCs, make sure you follow these three rules of thumb. Read more: click image or title.



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"Hey Dave,
Yes, thank you, I have completed the business plan. Finance has been approved, accountant has done his thing, and the solicitor is lagging behind!
Thanks for the support"


Ruth Yates

Marc Kneepkens's insight:

Don't waste the time of a VC. Prepare every step of the way meticulously.

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No Team? No Idea? No Problem! This VC Will Fund Your Startup Anyway - Wall Street Journal (blog)

No Team? No Idea? No Problem! This VC Will Fund Your Startup Anyway - Wall Street Journal (blog) | Pitch it! | Scoop.it
As money pours into equity and venture capital firms, “pre-acceleration” programs are flourishing for those interested in entrepreneurship but who don’t know where to start.

Alejandro Vicente Grabovetsky wants to build a software program that checks the veracity of online news items. The 30-year-old with a PhD in neuroscience from Cambridge University plans to set his “media-truth-detector” loose on what he calls Russian propaganda, mostly against his native Ukraine. He has three problems though: he’s not exactly sure how it’s going to work, he doesn’t have any money to develop it, and he’s got no team to work with.

Also, he’s not sure the technology “is there yet.”

Enter Entrepreneur First, a venture capital firm that says it invests in people “pre-idea, pre-team,” which this week let Grabovetsky pitch his idea to see if he can get it off the ground.

Many wannabe entrepreneurs in EF’s program are pre-selected while still at university, where EF has close contacts with professors to spot the students with the best academic records, science projects, internships or publications. Two academics even hold equity in the company. “We spent a lot of time on campuses,” said Zoe Jervier, a member of EF’s recruiting team, said.

As money pours into equity and venture capital firms, “pre-acceleration” programs are flourishing for those interested in entrepreneurship but who don’t know where to start. It’s a risky, long-term bet on untested entrepreneurs with no real product or business plan.

“We are probably the most risk-seeking investors in the world,” said Matt Clifford, EF’s co-founder. Click image or title to continue reading.




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Via Laurent Timmermans
Marc Kneepkens's insight:

Risky strategy, but probably rewarding because of the small investment and the choice of most promising candidates.

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Running Out Of Money Isn’t A Milestone

Running Out Of Money Isn’t A Milestone | Pitch it! | Scoop.it

Nearly all startups use the same methodology to figure out when to raise their next round of capital. The founder projects the planned burn rate and estimates the day they will run out of cash. Then they subtract a margin for fundraising approximately four months from the date the company’s bank account will be empty, and declare the difference the fundraising-process start date.

While logical, this method is highly flawed. It’s predicated on the idea that running out of money is the key milestone upon which to base a fundraising. However, running out of money isn’t a milestone — it’s exactly the opposite. Read more: click image or title.





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Marc Kneepkens's insight:

The logic of fundraising and running out of money.

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How to Pitch Your Idea and Your Startup - #How to Startup_

How to Pitch Your Idea and Your Startup - #How to Startup_ | Pitch it! | Scoop.it

  At the Founders Institute in Athens, we are working with teams on pitching their ideas and try to develop them into viable startups. The teams get better and better as the number of pitches increases and the feedback they get gets more concrete, so here is a guide on how you can get a better pitch for your idea for different audiences.

A. Why you need to work on your pitch? To whom are you going to pitch?

There are many cases where you will need to pitch your idea to get support. A couple of them are:

1. Pitching to find a co-founder: Imagine you are going to a Startup Weekend, an OpenCoffee event or another entrepreneurship meeting and you are a business person trying to find a technical co-founder. You will need to explain your idea in a clear way, so that people can correlate with it and get enthousiastic.

2. Pitching to Contests: While trying to set up your startup, you will want to participate in contests that offer financial or other rewards.

3. Pitching to Incubators and Accelerators: If you want to get accepted at incubators and accelerators, you will need to pitch to them.

4. Pitching to Investors: No pitching, no fund-raising. You will need to persuade investors to get the money out from their pockets and you will need to work on your pitching skills to showcase the great potential of your idea and startup.

5. Pitching to the Media: You will usually have a minute to grab the attention of a journalist or a PR persons and get him/her to write a story about your startup. Read more: click image or title.




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Marc Kneepkens's insight:

Different approaches for different situations. Your pitches to an investor and a CTO are very different. This article sums it up well.

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A Guide to Winning Support for Your New Idea or Project - Harvard Business Review

A Guide to Winning Support for Your New Idea or Project - Harvard Business Review | Pitch it! | Scoop.it
Persistence is key.

You’ve got an idea for something that will improve your company’s bottom line or make it a better place to work. Nice going. Now for the hard part: How do you get people on board? How do you get funding? And what should you do if your idea doesn’t catch on?

What the Experts Say
In an ideal world, you’d come up with a genius new idea, tell your coworkers about it, and they’d immediately grasp its brilliance. Your boss would love it — and you! — and give you the resources you need to execute it. But that’s not reality. “It’s very hard to start a new initiative,” says John Butman, author of Breaking Out: How to Build Influence in a World of Competing Ideas. “It’s hard to get people to listen to your idea, to understand your idea, and to take action.” It may be difficult, but it’s also a vital skill to master. “Organizations need to keep changing, adapting, and innovating,” he says. “If they don’t, they stagnate and disappear.” But it’s not only the success of your company that’s at stake, says Susan Ashford, professor of management and organization at Michigan’s Ross School of Business. The ability to get new initiatives off the ground is also critical to your career. “You want to stand out, be visible, and get noticed as a leader,” she says. “And one of the ways to do this is by suggesting change ideas and implementing them.” Here are some pointers on how to get your idea moving. Read more: click image or title.





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Marc Kneepkens's insight:

Coming up with new ideas or projects is challenging, especially when this entails to find funding for the idea. This article goes a little deeper in approaching how to proceed.

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5 Times You Should Rethink Joining an Accelerator

5 Times You Should Rethink Joining an Accelerator | Pitch it! | Scoop.it
Before your put the pedal to the metal, make sure your company is ready to quickly scale.

Thinking it may be time to accelerate and take the next step to success?  Before you go to Mach 10, it’s smart to think about accelerating in the right light. It’s not always the golden ticket to "greener" pastures that many are seeking.

I was part of the Imagine K12 accelerator, which funds startups in the education space akin to the prestige of the Y Combinator. While it was an amazing experience, accelerators aren't for everyone. As someone has gone through the program, I’ve been asked about when a venture should accelerate and when it’s better to put the brakes on.

Here are five scenarios that may make you think twice about putting the pedal to the medal:  Read more: click title or image.




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Marc Kneepkens's insight:

Accelerators can be the perfect experience for your startup. However, you can be too early, not ready, or not fit. Read this article first to get some idea what it's all about.

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Here are the 11 Startups Women's iLab Discovered Through The MassChallenge Partnership

Here are the 11 Startups Women's iLab Discovered Through The MassChallenge Partnership | Pitch it! | Scoop.it

Here’s an impressive fun-fact: David Chang, Co-Founder of Start Tank, has said that over 60% of startups that pitched in the second round of judging in the high-tech lane on the show had at least one female founder. And, at Women’s iLab, we celebrate the rise of female entrepreneurs.

This year Women’s iLab was invited to partner with MassChallenge to discover Boston’s best and brightest female-led startups and compete in its accelerator program. MassChallenge’s four month accelerator program offers mentorship, office space, and education resources, and awards two million dollars in cash awards. With programs in Boston, Israel, and the United Kingdom, MassChallenge is open to anyone in the world, from any stage in the startup and in any industry.

Women’s iLab is one of Boston’s experts on women in tech, and we’re proud to highlight the startups that we’ve chosen.  The selected startups were given the opportunity to work out of the MassChallenge offices leading up to the program and/or be fast-tracked into the second of the three rounds of judging to make it into the program.

Here are the eleven startups chosen by Women’s iLab and their elevator pitches (those marked with an * made it to the MassChallenge Semi-Finals):  read more: click on image or title.





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"I loved working with Growthink. The staff are passionate about their work and committed to what they do in a way that can only be achieved when you love what you do. They helped keep us on track to achieve our planning goals. I am looking forward to continued success working with everyone from Growthink in the future."
- Venus Williams, Professional Tennis Player and CEO, V Starr Interiors


Marc Kneepkens's insight:

From #Beauty to #Breastfeeding, #Education to #Wardrobe management, these startups are made by women and for women (mostly).

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Using Technology To Humanize Finance

Using Technology To Humanize Finance | Pitch it! | Scoop.it

“Banking is necessary – banks are not.” Bill Gates said this in 1994. It was a bold statement to make at the time, and one that some have associated with the start of a transformation in financial technology.

Now, two decades later, we are seeing this revolution unfold before our eyes. Catalyzed in large part by the financial crisis of 2008 and 2009, a new financial order is emerging. It is one where large, traditional banks are increasingly facing heavy competition from new entrants – namely, online marketplace lenders – that are delivering a more human lending experience through the technology, transparency and trust that consumers want from their financial services providers.

In a March report titled “Future of Finance,” Goldman Sachs analysts Ryan Nash and Eric Beardsley noted that regulatory changes and new technologies are among the top factors reshaping the traditional banking sector and enabling the rapid growth of marketplace lending. Read more: clickk on image or title.





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Marc Kneepkens's insight:

Food for thought. Change is happening everywhere and technology is certainly enabling the process.

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How we grew our startup to an early revenue stage

How we grew our startup to an early revenue stage | Pitch it! | Scoop.it


If you are a very early stage entrepreneur, then the next 10 minutes reading this post will probably save you weeks of time that you plan to invest in customer acquisition and UI optimization strategies.

Like you, we started out with just a vision in our heads and little experience in running a SaaS business. Most of the time we had little clue of what we needed to do to convert traffic into leads and leads into customers. We got some great ideas from experts in the field, but the amount of knowledge on Conversion Rate Optimization (CRO) can be overwhelming sometimes, especially for early stage startups.

So we did what we like to call as ‘experiments’ on CRO rather than have ‘strategies’. Some of these experiments have worked brilliantly for us and well, some have failed miserably. So we are sharing our learnings with fellow entrepreneurs who are starting out. The idea is to share our experience with young entrepreneurs just like us and to convey the message that it is a good practice to go with your gut instinct and experiment with options. Read more: click image or title.




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Marc Kneepkens's insight:

The process of growing a client base analyzed in detail and broken up in many steps. Indeed, you'll save a lot of time checking this out before starting your own.

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Michel Morvan's curator insight, May 14, 4:22 PM

Very simple, concrete and useful tips that the author has tested with his own business...

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How To Make The Most Of Your Startup Accelerator Program Experience

How To Make The Most Of Your Startup Accelerator Program Experience | Pitch it! | Scoop.it

Seed accelerators have been around for 10 years now and their popularity doesn’t appear to be waning any time soon. Sure, criticism for the programs themselves and the proliferation of different programs around the world have taken some wind out of the sails, but primarily, joining an accelerator program – or rather, being accepted to an accelerator – is still considered valuable and an endorsement of the concept and business model.

The best accelerators are incredibly competitive – Y Combinator and TechStars have application acceptance rates as low as 1 to 3 percent. Luckily for my company, we were accepted to the 2014 TechStars Boston class. I want to share how we did everything we possibly could to get the most out of TechStars in the short time we had under their umbrella – and how any startup can replicate those best practices in their own accelerator or incubator.

Our methods aren’t for every company, but hopefully you can learn from some of our strategies – specifically what worked and what didn’t. Read more: click image or title.




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Marc Kneepkens's insight:

Ever wondered what happens in an #accelerator and how to take most advantage of the experience? This #CEO describes the process and what he did to get the most out of it.

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What it takes to be a tech entrepreneur in 2015 - VB News

What it takes to be a tech entrepreneur in 2015 - VB News | Pitch it! | Scoop.it
Opinion A handful of technologies have contributed to an explosion of entrepreneurship in the past decade. But it’s not just technology that is empowering people to take fate into their own hands and launch their own businesses.

...

Paying it forward

One of the things that’s critical to making a community work is a pay-it-forward mentality. Panelist Emily Baum, who is the founder of Keyrious, a startup maker of connected luxury items, explained it this way: She compared New York, Chicago, Los Angeles, and San Francisco by the way people respond when you ask them for a favor they aren’t able to deliver on.

In New York, she said, if you ask someone for something they can’t do, they just say no — and they’re often rude about it.

In Chicago, they’ll spend five minutes apologizing for not being able to help you.

In Los Angeles, they’ll cheerfully say, “Sure, I can help you out!” even if they know they have no intention or ability to do so.

But in San Francisco, if you ask someone for something they can’t do for you, they’ll say, “I can’t help you, but let me introduce you to someone who might be able to.” Then they’ll make an introduction — and that person will actually respond. Even if that person can’t help, they’ll make another intro — and so on, until you get connected with someone who can help you.

For that reason, Baum said, she figured she was able to get her company off the ground four times faster in the Silicon Valley area than elsewhere. Read more: click on image or title.



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Dave....
I downloaded your business plan template ...It is  great!!! we have a successful delivery service already running today ...This plan is for a new liquor store idea ...my tax consultants say your plan is amazing..Thanks Dave!!!
Aja Noyes
Shift Gear Deliveries

Marc Kneepkens's insight:

'Paying if forward' is only one of the examples given in this great article.

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500 Startups announces $10M TukTuks (ตุ๊กตุ๊ก) Fund

500 Startups announces $10M TukTuks (ตุ๊กตุ๊ก) Fund | Pitch it! | Scoop.it

We’re proud to announce the launch of “500 TukTuks”, a $10M USD micro-fund focused on promising startups, managed by new 500 investing partners Krating Poonpol and Moo Natavudh. Why the name TukTuks? Well they are small , lean, fast, agile, and dangerous. JUST LIKE STARTUPS. We’re excited to take a trip through the winding roads of Thailand to discover smart, badass entrepreneurs.

Why 500 TukTuks?

500 sees an opportunity to invest early and often into the next generation of Thailand’s most promising startups and empower them with best of Silicon Valley’s education, thinking, talent, and money to provide unfair advantage in the local market. 500 will be the first major SV accelerator and seed stage investor in the local Thai market and founders will gain access to our global network of high-value mentors and 2,000+ founders. 500 will look to invest in not just companies that can succeed in the local Asian market, but through its accelerator, find and work with Thai companies that can succeed in the US and global market.

500 TukTuks Management & Investment Team include:

  • Krating Poonpol  – Venture Partner (Thailand)
  • Moo Natavudh – Venture Partner (Thailand)
  • Dave McClure – Founding Partner (Investing & International)
  • Khailee Ng – Managing Partner (SEA)

Who are the local investment partners?

Read more: click on title or image.





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Dave....
I downloaded your business plan template ...It is  great!!! we have a successful delivery service already running today ...This plan is for a new liquor store idea ...my tax consultants say your plan is amazing..Thanks Dave!!!
Aja Noyes
Shift Gear Deliveries


Via Arnaud Bonzom
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Meet Some of the Most Promising New York City Startups

Meet Some of the Most Promising New York City Startups | Pitch it! | Scoop.it

http://snip.ly/xKL4

Techstars just held its Winter 2015 NYC Demo Day, and the companies presenting were all amazing.

The New York entrepreneurial ecosystem is BOOMING. A clear indication of this is in the numbers of new companies that are being created everyday. Not only are a ton of new companies being created, the quality is, in my opinion, getting better every year.  I have a birdseye view on the market, being the CEO of AlleyNYC and having the awesome opportunity to mentor for Techstars.

The other day, Techstars had its Winter 2015 NYC Demo Day, and the companies presenting were all amazing.  The following list of companies along with a brief description is proof that the NYC startup scene is stronger than ever. 

By Jason Saltzman. Read More: http://snip.ly/xKL4




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When you're underwater, and resource-constrained, like most startups, Growthink can be a valuable partner to help you progress in areas like organizing and developing the business plan and pursuing funding.
Their service can be a well-managed extension of your own human resources. The people at Growthink care about their work and are very "hands-on", which is required in this process.
We found Growthink to be strong not only with the assigned projects, but also the extra things needed to get a company off the ground, and not always specifically laid out in the assignment - networking for advisors, funding sources, potential partners. We used them for more than one of our startups.  
- Marc Junkunc, Principal

Marc Kneepkens's insight:

A great list of very creative and successful startups. Find out what makes innovation tick!

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7 Lessons from 500, YC, Angelpad alum — How to Prepare For Any Accelerator Interview

7 Lessons from 500, YC, Angelpad alum — How to Prepare For Any Accelerator Interview | Pitch it! | Scoop.it

This month 500 Startups and General Assembly teamed up to hold a pre-accelerator program. Last week, we had our mini Demo Day:

I led the final week of the program where, in addition to 60-second pitch workshops, Angel.co profile show-and-tell, and pitch deck review sessions, I organized mock accelerator interviews.

To help me, I called a few of my friends*, Ryan Jackson of Paid and Andrew Norris of Taplytics, both YCombinator alums, Mason Blake at UpCounsel and Tristan Pollock of Storefront (now EIR @500) who went through AngelPad, and Selcuk Atli and me from 500Startups (both of us with YC backgrounds from Boostable/inDinero).

We started with a panel introducing ourselves and the accelerator processes: YC does 10 minute interviews with a few partners and cares more about founders than ideas; 500 does a deeper dive over 20–30 min and focuses on people and growth. With Angelpad, you’ll be talking to Thomas and Carine, and there will be fewer companies in your cohort. Each pre-accelerator company then had a 5-minute mock interview with us.

Despite the differences between us and our accelerators, the six of us noticed very similar patterns in the founders. The following mistakes to avoid and advice will help you prepare for any accelerator interview (and some investor conversations, too!)

Read more: click image or title.




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Marc Kneepkens's insight:

Creating a good pitch, whether it is for an accelerator program or for any round of funding, can be challenging. There are a few guidelines that can help you overcome the most basic mistakes. This article spells it out. Read it, it will help tremendously. Excellent.

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To Bootstrap Or Not?

To Bootstrap Or Not? | Pitch it! | Scoop.it

Bootstrapping is a tougher choice than ever for startups. Seed capital is so widely available that deals for the hottest companies can close in days, and many entrepreneurs never even consider bootstrapping their company — especially in the race to join the “Unicorn Club.”

On the other hand, some startups don’t have the luxury of securing investors to help launch their company, and others see enough value in going it alone they forgo outside funding.

In 2009, I left my job as a software engineer at Facebook and took a leap of faith to found Storm8 with a few friends. We scraped together our savings and funded the company ourselves. Over the following six years, we grew the company to more than 250 employees without raising any outside capital. Remaining bootstrapped hasn’t made our journey any easier, but the required differentiated approach itself has been incredibly rewarding and satisfying. Read more: click image or title.





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Marc Kneepkens's insight:

Before considering funding: take a look at bootstrapping. Finding investors may be easy, but each time they take out a chunck of your company.

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The Most Important Question Every Founder Needs to Answer

The Most Important Question Every Founder Needs to Answer | Pitch it! | Scoop.it
Not being totally honest with yourself about this might be the biggest mistake you will ever make.

"The freedom to make my own mistakes is all I ever wanted." - Mance Rayder, Game of Thrones

 

I have an eminently simple philosophy when it comes to business and life; no decision is a mistake if you can look back on it with pride in knowing why you made it.

"...no decisions is a mistake if you can look back on it with pride in knowing why you made it."

So, let me ask you a simple question: "What's your ambition for your business?" Sounds simple enough, right? Here's the good news, it's a multiple-choice question with just three answers--wait, it gets better, all three answers are right! What's crucial is that you pick one and then build every aspect of your business strategy around it. Vacillate between these and you're, well, how can I put this kindly....you're screwed! Yeah, that was a gentle but effective way to say it.

Here are your three choices.

  • A) The Exit Strategy
  • B) The Scale Strategy
  • C) The Lifestyle Strategy

Read more: click image or title.





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Marc Kneepkens's insight:

Important choice to make when starting a business: what do you want with it? How do you want to exit? Or not?

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Know your Minimum Winning Game for startup success

Know your Minimum Winning Game for startup success | Pitch it! | Scoop.it
It's surprising how frequently entrepreneurs struggle when potential investors ask them a simple question: "What are you going to accomplish with this round of financing?"

At XSeed Capital we are introduced to over 500+ new startup opportunities every year, and we directly meet or talk to 150–200 of these companies. In this context, I am sometimes asked what is the “biggest mistake” that a CEO or management team makes when pitching venture capitalists. While there are several that come to mind, I remain surprised at how frequently even experienced entrepreneurs struggle with a simple question:

“What are you going to accomplish with this round of financing?”

In an unexpectedly large number of conversations and meetings, instead of hearing proposed measurable milestones, investors are given a “to do” list of activities from entrepreneurs: hire some engineers, launch the first product, get some revenue, do some marketing, etc.

In a world of staged funding rounds, an idea that my Stanford colleague, Robert Burgelman, and I wrote about in 2007 can provide entrepreneurs with a way to think about how they should contemplate what needs to be achieved with each infusion of capital and the size of the round they are raising: the Minimum Winning Game (MWG). Read more: click image or title.




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Marc Kneepkens's insight:

Finding out what the VC's or investors expect from you is an important element in preparing your pitch. Go through possible questions and document yourself well.

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Richard Platt's curator insight, June 21, 12:58 PM

Exceptional advice not only for startups but also large corporations as well that have their own business building activities internal to their organizations.  I have been long time supporter of MWG theory, along with the Porter 5 Plus model and the Strategic Inflection Point elements that make up the broader theory.  In contrast to the MVP model of the Lean Start-Up as promoted by others in Silicon Valley and elsewhere, which I see from my p.o.v. as a much smaller subset of what MWG theory propositions, necessary perhaps but insufficient in the kind of analysis and forethought required.  (In full disclosure I am ex-Intel, and specifically helped drive innovation across the enterprise and saw how MWG theory (when applied correctly) is a  better than other approaches to what we've seen different managers, groups, organizations inside of Intel as well as in other high tech firms.)

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9 Things to Know in Order to Turn Your Idea into a Business - PressFarm

9 Things to Know in Order to Turn Your Idea into a Business - PressFarm | Pitch it! | Scoop.it
The tips to help you to turn your idea into a booming business worth millions of dollars.

At some point everybody gets ideas. In fact, we have all had ideas that we wished to turn into businesses. However, having an idea in itself while is still a great thing, it’s not a guarantee that a business can be made out of it. If a business can be made out of it, knowing how to go about it is quite a challenge for anyone who has not started a business before. As a beginning entrepreneur, how do you turn an idea into a booming business? These tips below should help you figure that out. Read more: click image or title.





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Marc Kneepkens's insight:

Having an idea doesn't mean anything. Investors will not waste any time on you. It takes a lot more than that. This article will get you ready for the next step.

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Lessons From A Study of Perfect Pitch Decks: VCs Spend An Average of 3 Minutes, 44 Seconds On Them

Lessons From A Study of Perfect Pitch Decks: VCs Spend An Average of 3 Minutes, 44 Seconds On Them | Pitch it! | Scoop.it

DocSend, a startup that provides people with a secure and private way of sharing files like offer letters or legal agreements, studied more than 200 pitchdecks to figure out the right way to graduate from bootstrapped to seed-funded, or from angels to a Series A.

They partnered with Harvard Business School professor Tom Eisenmann to look at companies that had raised $360 million in total.

What did they find? You can see the whole study here.

Anyway, they discovered that companies needed an average of 40 investor meetings and took a little over 12 weeks to close a round. Investors don’t look at pitch decks for very long — just an average of 3 minutes and 44 seconds. Read more: click title or image.




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Find out how long it takes to get funded, and what matters most. Great sets of infographs and data.

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These startups from around the world are innovating their way to a better world

These startups from around the world are innovating their way to a better world | Pitch it! | Scoop.it
Innovative solutions to fundamental problems.

Over the past week, 1776, a startup incubator focused on public good brought startups from 16 cities in 11 countries to Washington D.C. to compete in the Challenge Festival.

The week-long startup competition focused on four areas of public innovation: education, energy & sustainability, health, and transportation.

Unlike other well-known incubators and seed funds, 1776 solely funds startups that are focused on making a major impact in heavily regulated industries.

At the Challenge Festival, startups like as BaseTrace, which “uses DNA-based tracers to track where industrial fluids are going in large, complex environments” and Reliefwatch, a cloud-based system that uses smartphone technology to track inventory and diseases for healthcare organisations in the developing world, battled it out on stage for a grand prize of $US150,000 in investment.

Twiga Fruits, a Kenya-based startup that builds fair and sustainable distribution systems to export fresh fruit from the country without going through a middleman. The company aims to treat farmers fairly while helping to distribute their goods to the widest network. Twiga Fruits is currently Kenya’s leading exporter of bananas, pineapples and avocados.

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Impressive list and creative ideas from entrepreneurs allover the world making a difference.

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6 Reasons Investors Are Drooling Over Subscription-Based Startups

6 Reasons Investors Are Drooling Over Subscription-Based Startups | Pitch it! | Scoop.it
The future is looking subscription-based--and investors are taking note.

I moved to New York City in the dead of winter this year, after living in sunny Los Angeles my whole life. It was a season of firsts: first time I'd ever not had a car and first time I'd ever owned a coat. The grocery store is only a few blocks away from my home, but in the snow that I totally wasn't used to, picking up stuff for dinner was a chore. First world problems alert!

Surfing the Web, I found a lovely little startup that creates gourmet recipes, packs a box with the ingredients to cook them, and delivers a box right to your door. So my issues of being cold and a terrible cook were alleviated for about $60 per week.

It's been a running joke that no matter what your problem is, "there's an app for that!" The way things are going, that old saying might be modified to "there's a subscription-based business for that!" And investors are taking note.

"The subscription business model is in the midst of exponential growth and is completely transforming the purchasing habits and priorities of the consumer," says Donny Gamble Jr., financial expert and founder of PersonalIncome.org. "In the past, skeptics dismissed the subscription model as being 'all hype,' but recent trends have proven the opposite is true."

As consumer behavior increasingly favors access, simplicity, and convenience, a model in which customers commit to recurring purchases of a customized set of goods has been met with astonishing success. As it turns out, this model actually encourages consumers to buy more consistently. Reduced costs, global consumer access, and rapid growth potential make subscription-based businesses an optimal investment in the domain of e-commerce.

Gamble predicts that the future of investments will become increasingly subscription-based. Here's why:... Read more: click on image or title.





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Hey Dave,
Your BP template help me achieve the goals I've been trying for 5 years. The template led me to produce an effective tool to attract the investors I need.
Thanks
Robert

Marc Kneepkens's insight:

Find the need, create the problem, sign up clients. As simple as that.

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Charting A Path From Seed To A Competitive Series A Round

Charting A Path From Seed To A Competitive Series A Round | Pitch it! | Scoop.it

Over the past five years, there has been roughly $3 billion of capital invested in nearly 3,500 seed-stage companies, with the number of seed investments rising every year. According to CB Insights, 2014 saw the largest year of seed investing since 2009, with a record $1.3 billion of capital invested in almost 1,000 seed companies. Many of these seed founders have high hopes of raising the subsequent up rounds that can lead to a defining moment for their team, investors and advisers: an attractive acquisition or an IPO.

The reality is that raising seed capital is only the beginning of a long and sometimes turbulent journey of startup experimentation, and only a small percentage of seed companies will emerge from the gulf of experimentation to reach a Series A round....


...

Companies that reach highly competitive Series A rounds typically have systematically reduced their company’s product, market and execution risk during the seed stage. The founders of these companies use their seed capital to efficiently orchestrate a process-oriented set of experiments that culminate in evidence of product-market fit.

From a product perspective, their product teams are characterized by product, technical, and/or domain experts who can build compelling products that address concrete market needs. These teams study the engagement of their users/customers, and discover how users/customers are interacting with their products and the value customers are deriving. These companies have multi-talented, growing, and disciplined product teams that sometimes execute against a product roadmap that has feedback loops to help inform product development.

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Get your Free Business Plan Template here: http://bit.ly/1aKy7km

Great info. Loving your business plan template, makes writing a plan almost fun.


Craig Heppell
Nambour, Queensland

Marc Kneepkens's insight:

Must read article for every founder who is serious about building a great business and wants/needs to think beyond the seed funding stage.

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Marianne Naughton's curator insight, May 20, 12:40 PM

Developing seed techs ... 

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500 Startups Accelerator Announces Its Thirteenth Batch Of Companies

500 Startups Accelerator Announces Its Thirteenth Batch Of Companies | Pitch it! | Scoop.it

With their twelfth batch of companies set to demo to investors and the press next week, 500 Startups is announcing the thirteenth batch of companies to go through its accelerator.

The firm is adding 30 more startups to its 1,000-company portfolio, and there are a few clear trends among the batch: lots of on-demand services, marketplaces, and physical goods like hardware or cleaning products.

As with its recent cohorts, the accelerator is bringing in companies from San Francisco, Silicon Valley, New York, and outside the U.S. for its newest batch. 500 Startups founding partner Dave McClure explained the philosophy behind that diversity at Disrupt NY on Tuesday, noting, “we think they’re under-priced assets that the rest of the world is missing.”

Here’s the complete list of startup joining 500 Startups in the Bay Area this summer:  to see full list click on title or image of this article.




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Marc Kneepkens's insight:

#500Startups is doing a great job facilitating young startups into the

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Watch Out for These 9 Seed Funding Gotchas

Watch Out for These 9 Seed Funding Gotchas | Pitch it! | Scoop.it
Don't rush into fundraising too early or without a plan.

The reality is most startups need to raise funding to grow, and to become real companies. It's not typical that a company can make money if it doesn’t fundraise, and certainly very unlikely that anyone will make any money if your company does not grow.

One of the objectives of the companies going through Techstars and other accelerators is to secure financing. Most companies are coming in to focus on accelerating their businesses and then securing capital to continue to accelerate growth. So we love it when companies get funding.

But we’ve seen a clear pattern with the companies that rush into funding too early. Why? Here are the nine gotchas of seed funding that will help you understand what goes wrong. Read more: click on image or title.




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Dave....
I downloaded your business plan template ...It is  great!!! we have a successful delivery service already running today ...This plan is for a new liquor store idea ...my tax consultants say your plan is amazing..Thanks Dave!!!
Aja Noyes
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Marc Kneepkens's insight:

Are you ready for funding? Read through this article and find out what is missing and how to approach investors, angel investors or VC's.

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Sneaky Questions Early-Stage VCs Ask Founders

Sneaky Questions Early-Stage VCs Ask Founders | Pitch it! | Scoop.it

During conversations with VCs, entrepreneurs will often encounter a few sneaky questions that have nothing to do with their actual businesses today. Many of these are attempts by investors to learn something specific that they don’t want to ask directly, and there’s usually some kind of hidden meaning behind a given question. Some VCs may just be fishing for more information, but many are looking for specific “right” answers.

It’s a funny dance, and while experienced entrepreneurs know what’s going on and how to respond, these questions can easily trip up a founder going through the fundraise process for the first time.

Below are some examples and suggested responses. Of course, it’s always best to be honest and authentic, so this is not a proposed script so much as additional context to incorporate into your own thinking. Read more: click on title or image.



Get your Free Business Plan Template here: http://bit.l/1aKy7km

Dave....
I downloaded your business plan template ...It is  great!!! we have a successful delivery service already running today ...This plan is for a new liquor store idea ...my tax consultants say your plan is amazing..Thanks Dave!!!
Aja Noyes
Shift Gear Deliveries

Marc Kneepkens's insight:

Dealing with VC's is quite a challenge. They see many startups and only pick the most promising for another conversation. The questions they ask are like probes going into your sense of doing business. Everything you say tells them a story. Since they do this for a living they are very well versed in asking the right questions. You need to find the right answers. This article explains some of their thought processes.

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Marc Kneepkens's curator insight, April 29, 7:49 PM

Anticipating the questions from your investors (VC's in this article) will create a huge advantage in your funding process. Understand what they are looking for and what their questions mean.