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Startup Myths Debunked

Startup Myths Debunked

A presentation from What Do You Know (Melbourne)

Joel Friedlaender

August 23, 2012
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Transcript

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

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

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  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

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

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  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

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  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

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  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

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  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

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  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

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  10. Joel Friedlaender
    @jfriedlaender
    Thanks for listening!

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