Five Questions You Must Answer Today Richard Rosenblatt Startonomics La 2009

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Information about Five Questions You Must Answer Today Richard Rosenblatt Startonomics...

Published on April 7, 2009

Author: malaparte

Source: slideshare.net

Five Questions You Must Answer Today Richard Rosenblatt CEO and Founder Demand Media

Q1.) Why Are You Doing This ?

A. Because I am in love with this idea What does this kind of passion look like ?

I’m passionate about lots of things… Elements I focus on: Consumer products that are made possible by the Internet Models that leverage and exploit the network effect Media models that can be reinvented Opportunity to work with amazingly smart people Ability to make money for my investors, teams, and friends None of these are why I like to start companies

Elements I focus on:

Consumer products that are made possible by the Internet

Models that leverage and exploit the network effect

Media models that can be reinvented

Opportunity to work with amazingly smart people

Ability to make money for my investors, teams, and friends

My passion is Self-Publishing 1994 2003 2007

Q2.) Do you have the best crew?

Your Crew is Bigger than You Think Founders Executive Staff Board of Directors Service Providers Investors Functional Staff Advisory Board Don’t settle on any of these groups; pick the best

Q3.) Who Will You Take Money From ?

Anyone

It Really Pays To Think This Through Savings Account Friends & Family Angels Strategic Partner Early Stage VC Later Stage VC Private Equity Venture Debt Distinguishing Characteristics Compatibility Sector experience Temperament Explicit Value Fund position

Q4.) What is Plan B for Your Company?

Things Rarely Go According to Plan Many start-ups have to run a broken play

Program in “Optionality” Know “what else” this could become Always be testing alternative things Business models; segments; product offerings Let passionate staffers pursue their pet ideas Good place to use partners Killing these off is OK too…

Know “what else” this could become

Always be testing alternative things

Business models; segments; product offerings

Let passionate staffers pursue their pet ideas

Good place to use partners

Killing these off is OK too…

Q5.) What Outcome Do You Want ?

A.) The right one King of my hill. Colbeck HillClimb Media ($10mm) $300k bootstrap Get what the market gives you. Panos Pluck ($70mm) $17m VC raise Go big or go home. Rosenblatt Demand Media (Outcome TBD) $355m PE raise

King of my hill.

Colbeck

HillClimb Media ($10mm)

$300k bootstrap

Many Factors Will Play A Role in the Answer Timing Size of the idea Financial partners Quality of the team Stamina Your spouse Be honest – and organize accordingly

Timing

Size of the idea

Financial partners

Quality of the team

Stamina

Your spouse

Let’s Review the Test Why are you doing this? Do you have the best crew? Who would you take money from? What is Plan B for your company? What outcome do you want?

Why are you doing this?

Do you have the best crew?

Who would you take money from?

What is Plan B for your company?

What outcome do you want?

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