Tech Founders' Hierarchy of Needs

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Speech given at Alliance Manchester Business School on 17th Jan 2020 to MBA Students by Manoj Ranaweera

Transcript

1. Tech Founders’ Hierarchy of Needs 17 Jan 2020 - Alliance Manchester Business School Manoj Ranaweera manoj.ranaweera@techcelerate.ventures | +44 7769734491 https://techcelerate.ventures
2. SEED GROWTH ACQUISITIONS ACQUIRED IPO 01 02 03 04 05 Copyright: Techcelerate Ltd
3. Tech Startups Investors Partners Specialists Tech Companies Larger Deal Makers Larger Tech Companies External Network Represent buyers Larger Deal Makers Acquisitions as well as technology push Larger Tech Companies Those who are yet to fully tap into Techcelerate Wider Network (600+) Removes the need to hire full time senior talent Specialists (8) Outsource from product development to sales Partners (14) Ensures capital adequacy Investors Helping them to accelerate including raising investment Tech Companies (25) Copyright: Techcelerate Ltd
4. Early Stages ARR gone past £1m with MRR above £100k Growth Stage (start) Growth P/S fit MVP Idea P/M fit Product has early users/customers and exploring early customer acquisition channels Problem/ Solution Fit Product being built or launched recently Minimum Viable Product (MVP) Validating the idea (prototyping) Idea Stage Product has paying customers with growing MRR Product / Market Fit Copyright: Techcelerate Ltd
5. 2. Business Survival • Idea Validation - Minimum Viable Product (MVP) • Minimum Viable Business - Problem/Solution Fit • Product/Market Fit - £1m revenues or £100k MRR 2 1. Founder Survival • Health • Mind - Loved Ones • Finance - Living Expenses 1 4. Founder Exit • MBO • Trade Sale • IPO 4 3. Scaling • Expansion - Geographical & multi products • Acquisitions 3 Tech Founders’ Hierarchy of Needs Copyright: Techcelerate Ltd
6. Key Takeaways - Everything takes 3x than planned Product - Reduce Technical Debt • Can you code? Should you learn to code? • Biggest cost • Be Product Champion Capital - Founder Survival • Are you building a £1, 10 or 100 million tech company? • How many rounds of investment would you need? Sales - Early Revenues Matter • Early sales have to be made by the Founder(s)? • No Skills? Get them before you start Copyright: Techcelerate Ltd
7. Tech Founders’ Hierarchy of Needs 17 Jan 2020 - Alliance Manchester Business School Manoj Ranaweera manoj.ranaweera@techcelerate.ventures | +44 7769734491 https://techcelerate.ventures