Startup Myths Debunked

A presentation from What Do You Know (Melbourne)

Transcript

1. Startup Myths
   Joel Friedlaender
   @jfriedlaender
   Debunked
   Ideas that have spread throughout startup community
   Often misunderstood
   Detrimental to success
   

   View Slide

2. Who am I?
   Founded RedGuava, boostrapped startup
   We make Cliniko
   Succeeded by going against startup norms
   

   View Slide

3. 9 out of 10 startups fail
   Crazy for 2 reasons
   It’s not accurate, it just can’t be
   The premise is bad, it’s not luck
   

   View Slide

4. Your idea is worthless
   No value on their own
   They are a multiplier against execution
   Crappy idea, execution won’t help
   

   View Slide

5. Scratch your own itch
   Meaning fix your own problem
   All software devs same problems/competitive
   Enjoy what you do isn’t about the industry
   Do solve a problem
   

   View Slide

6. You have to move to
   silicon valley
   Customers
   They are everywhere
   What makes a successful business is customers, not meetings
   Turns out customers are everywhere, even Aus
   Anecdotal evidence, there are more customers outside silicon valley than in it
   

   View Slide

7. Software startups only
   cost your time
   It’s possible, that doesn’t mean its best
   We spent 20k right away
   Legal fees, branding, website design, marketing
   

   View Slide

8. You need Venture Capital
   It’s an option, not a given
   There is another way to get money.. customers
   Reliant on VCs instead of supply/demand
   

   View Slide

9. Forget the myths...
   Make something people want
   Make it better than what’s out there
   Tell people about it
   Startup is still a business
   Dont forget the basics
   

   View Slide

10. Joel Friedlaender
    @jfriedlaender
    Thanks for listening!
    

    View Slide