3rd HYSTA Annual Entrepreneur Boot Camp
I spent the whole Saturday on the 3rd HYSTA Annual Entrepreneur Boot Camp. This year HYSTA worked with AAMA together. Therefore, comparing with last year, this year's conference had a good number of audience.
This year's topics are more advanced than last year; last year, there was a talk on how to incorporate a company; how to construct the share structure; how to deal with the issues during the rapid growth of the startup; how to work with board member;
This year is more about how to approach VC and how to pitch ideas.
Here is a good summary about the conference.
As usual, investors look at people. People first. This is really tough for a first time entrepreneur. One audience quotes a data that in one conference, all the VC firms on the panel only made one investment that was not through the referral filters. However, I also heard a story about the bloglines.com's founder, Mark Fletcher, has kept emailing DFJ(?) until one day, DFJ invited him for a talk. I verified with Mark himself when I met him. He said the story is true, but DFJ still didn't invest him. Here are good tips from Mark.
The other interesting takeaway is how to dance with elephant as a startup. Many VCs ask such a question, "what if Google enters this market?" I really believe this is not a good question. Just take a look, how many cases does a big company enters a new market and successfully trumps the ants? We saw many many examples like, big companies try to build in house first, fail, then go out to purchase the best player or buy the second best player. The reason is simple, the elephant needs to focus on fighting with other elephants for butter. It just can't see the ant. Even when it sees the ant, it can't master its muscle from the full body to trump the ant. It is true big companies have more resources, both financial and human. But they are not aligned well. Employees in small companies have much stronger incites to perform well than employees in large companies. Right?
The best part of the conference is the fast pitch. However, the judges are not very entertaining. I really wish Guy could be on the panel.
All the presentation are very good. They cover value proposition competition, and others. However, some of them didn't mention their financial model like how much money would like to raise? where those money are gonna to be used on? cash flow? when to breakeven? and what's the exit strategy? I guess 5 minutes might be short. Also VC panelist also focused their questions on value validation and marketing strategy.
I would rather suggest a good presentation should start with storytelling, especially for a consumer oriented business. Describe how your service or produce improve the consumer experience. Tell a story, which is much more appealing than starting the presentation with a simple slogan. I honestly admit, I almost feel some presentation is very bored.
How is elevator pitch looks like?
This year's topics are more advanced than last year; last year, there was a talk on how to incorporate a company; how to construct the share structure; how to deal with the issues during the rapid growth of the startup; how to work with board member;
This year is more about how to approach VC and how to pitch ideas.
Here is a good summary about the conference.
As usual, investors look at people. People first. This is really tough for a first time entrepreneur. One audience quotes a data that in one conference, all the VC firms on the panel only made one investment that was not through the referral filters. However, I also heard a story about the bloglines.com's founder, Mark Fletcher, has kept emailing DFJ(?) until one day, DFJ invited him for a talk. I verified with Mark himself when I met him. He said the story is true, but DFJ still didn't invest him. Here are good tips from Mark.
The other interesting takeaway is how to dance with elephant as a startup. Many VCs ask such a question, "what if Google enters this market?" I really believe this is not a good question. Just take a look, how many cases does a big company enters a new market and successfully trumps the ants? We saw many many examples like, big companies try to build in house first, fail, then go out to purchase the best player or buy the second best player. The reason is simple, the elephant needs to focus on fighting with other elephants for butter. It just can't see the ant. Even when it sees the ant, it can't master its muscle from the full body to trump the ant. It is true big companies have more resources, both financial and human. But they are not aligned well. Employees in small companies have much stronger incites to perform well than employees in large companies. Right?
The best part of the conference is the fast pitch. However, the judges are not very entertaining. I really wish Guy could be on the panel.
All the presentation are very good. They cover value proposition competition, and others. However, some of them didn't mention their financial model like how much money would like to raise? where those money are gonna to be used on? cash flow? when to breakeven? and what's the exit strategy? I guess 5 minutes might be short. Also VC panelist also focused their questions on value validation and marketing strategy.
I would rather suggest a good presentation should start with storytelling, especially for a consumer oriented business. Describe how your service or produce improve the consumer experience. Tell a story, which is much more appealing than starting the presentation with a simple slogan. I honestly admit, I almost feel some presentation is very bored.
How is elevator pitch looks like?
posted by HFT at 2:00 PM
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