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
2. Who am I? Founded RedGuava, boostrapped startup We make Cliniko Succeeded by going against startup norms
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
4. Your idea is worthless No value on their own They are a multiplier against execution Crappy idea, execution won’t help
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
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
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
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
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
10. Joel Friedlaender @jfriedlaender Thanks for listening!