Start Up Wisdom Humor

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Information about Start Up Wisdom Humor
Business & Mgmt

Published on July 3, 2009

Author: EugeneChamber



The top ten mistakes start-ups make - including some of my own personal start-up experiences of starting a Web 2.0 company. This deck also includes resources for entrepreneurs living in the Willamette Valley (Oregon).

Start-up wisdom humor Caroline Cummings Director of Entrepreneurial Development | Eugene Chamber of Commerce

Top 10 Reasons Why A Start-up Fails

The Single Founder 1

The Wrong Team 2

Marketing- Heavy Tech-Heavy 2

Wrong Legal Team! 3

4 Boiling the Ocean

Not Talking to Customers 5

Stealth to Long.. 6

Slow to Launch… 6

7 Stuck on Original Idea

Wrong Location! 8

Founder-itis! 9

Spending too much money 10


Go With Your Gut!!!

Ask potential business attorney… • Emerging growth business before? • How much time for you? • Raised multiple rounds of financing? • Create/Read a Capitalization Table? • Developed a PPM? • Compensation packages for new hires? • IP protection? • Global expansion? • Experience with exits – M&As, IPO, quit? • Talk to current/former client?

Date BEFORE Marriage!

Key Team Must Have Skin in the Game!

Don’t Take “Dumb Money”

Include Customers in your R&D k Ask Listen Do Than clude In

Believe You Can Win!

Local Support for Entrepreneurs Willamette Angel Network

Mission… To improve the climate of Oregon’s Willamette Valley emerging growth-oriented companies

Focus… • Education – Workshops, webinars, coaching, mentoring… • Networking – Pub-Talks, socials, Ning community… • Capital Development – Angel and venture development, strategic partnerships…

• The first investor conference of its kind • Regional approach to entrepreneurial dev • Corvallis this year – Eugene next year… • Modeled after Angel Oregon and Bend Venture Conference

Model… • 25 accredited investors at $5,000/each – $1 M personal net worth or $200K/year • 200 attendees • 44 business plans • 6 companies pitched 10 mins • 5 companies pitched Ignite (3.5 mins) • One winner: $125,000 in seed funding • One conference/year (Corvallis/Eugene)

Goals… – Connect entrepreneurs with expertise and financing for success – Increase skills of entrepreneurs – Increase number and engagement of angel investors – Promote our region as a vital market for new venture development

May 13, 2010 in Eugene

Local angels… • Accredited Angels from Lane County – Worth minimum of $1M in assets – Earn minimum of $200K/year • Review business plans • Eugene Chamber conducts due diligence/ screening for good deal flow • Company pitches 4x/year • Chose whether to invest – Individually – Co-invest

Summary to engage… • Attend Smart-ups on Jul 23rd at OES • Subscribe to RSS Feed • Free Review of your exec summary/PPT • Join (community) • Join | “virtual membership” – $35 students/40 individuals

Thank You!

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