2016 brandentrepreneurs business boot camps speakers
TRANSCRIPT
PowerPoint Presentation
www.BrandEntrepreneurs.com1
2016 FREE BUSINESS BOOT CAMP USA TOUR
Who, What, When, & Why 2
Who- BrandEntrepreneurs.com is a project initiativeBy Christine S. Ntim & Einstein Ntim What-It is also the home of the ultimate business boot camp for entrepreneurs A.B.B.C When-The A.B.B.C will be hosted in 10 cities around the world this year from July to DecemberWhy-Startup events is now its own industry and founders are not getting any value. Were changing this with our global programs and resources! www.BrandEntrepreneurs.com
Bootcampswww.BrandEntrepreneurs.com
Boston-Oct 15NYC- July 31DC-Oct 2NYC-Aug 13SFO-Sept 6
Follow Us on Social MediaIn 6 Months we mentored over 2000+ entrepreneurs! Join the movement!
So whats next? We will continue these boot camps in 2017! We cover ideation, product development, customer acquisition, marketing, funding and branding! Also-Each week we share top tips and funding prizes with the network. Follow to get access!
Facebook:https://www.facebook.com/brandentrepreneurs/ T-Shirt: https://teespring.com/brandentrepreneurs Meetup Grouphttps://www.meetup.com/brandentrepreneurs/Newsletter: http://brandentrepreneurs.com/ www.BrandEntrepreneurs.com
Get the E-Book Summary
https://csouffrantntim-com.myshopify.com/collections/frontpage/products/how-to-launch-scale-your-startup-in-6-months For a limited time only, we are pricing this blueprint guide book for 99cents! www.CsouffrantNtim.comWhat's Inside? -24 HR Start List -24 HR Audit List
Learn how to:-Code a MVP app & website-Raise $250k in free money -Get featured in global press for free
www.BrandEntrepreneurs.com6
NYC SPEAKERS
Press, Media, Marketing Panel7www.BrandEntrepreneurs.com
Funding Panel8
www.BrandEntrepreneurs.com
Legal 101Speaker-Richa Naujoks from Nixon Peabody9
Social Impact 101Panel-Bulbul Gupta, Sergei Revzin10
Branding 101Speaker- Susan Solomon, Lynne Johnson11
Startup Ecosystem Panel 12www.BrandEntrepreneurs.com
Forbes 30 Under 30 Panel13www.CSouffrant.com
Vincent- growth hackingSpeaker
Press, Marketing, MediaPanel
Startup Ecosystem Speakersaccelerators & eventsMina Salibbrian antolin,katya dorozhkina,www.BrandEntrepreneurs.com
Media & EntrepreneurshipGeorgie-aNN GETTON davida arnold, natasha israni, lisa wangnsi Obotetukudowww.BrandEntrepreneurs.com
Customer Acquisition 101Speaker-Angela Lee18
Angela LeeFounder (37 Angels)Assistant Dean (Columbia Business School)ABCs of Customer Acquisition
What well cover todayHow to scalably acquire customers?Who is your customer?
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What well cover todayHow to scalably acquire customers?Who is your customer?
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Who is their customer?
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Who is your customer?
DemographicGenderAgeIncomeLocationPsychographicPersonalityInterestsValuesLifestyleUse casePain pointProblem solvedValue addedWay to approach
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Who is their customer?All hotels in [city] are bookedI want a cheaper option than hotelsI want to experience home away from home
I want a more personal, unique travel experience
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Who is their customer?
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What well cover todayHow to scalably acquire customers?Who is your customer?
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How are you acquiring customers?Weve done no marketing!We only need to capture 1% of the market.
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How are you acquiring customers?ChannelChannelChannelChannelChannel
Unaware target marketProspectsLeadsCustomers
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Example 1: B2C
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Example 1 B2CCampus Tabling
Response best with x message at y timeDirect MailSEOInfluencer MarketingEmailCampus ambassador = $60/hrCost to acquire customer (CAC) = $20Customer lifetime value (CLV) = $100100 parents walk by in 1 hour20 give email address10 open email 3Cust.30
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Example 2 B2BCold Calling
Identified decision maker and path to them / purchaseDirect MailSEOTradeshowsReferral PartnersSalesperson salary = $10K/moCAC = $10KCLV = $30K?Retention rate in year 2 = ?50 cold calls a month10 meetings with leads4 meetings with purchaser1 ClientTeam knows timing to close (SMB / enterprise)32
TractionBook.com
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Have you tested multiple channels?34Viral MarketingPublic Relations (PR)Unconventional PRSearch Engine MarketingSocial and Display AdsOffline AdsSearch Engine OptimizationContent MarketingEmail MarketingEngineering as MarketingTarget Market BlogsBusiness DevelopmentSalesAffiliate ProgramsExisting PlatformsTrade ShowsOffline EventsSpeaking EngagementsCommunity BuildingSource: Tractionbook.com
Additional resources10 Slides Investors Want (Slideshare AngelaWLee)16 Startup Metrics (Andressen Horowitz)37angels.com/resources
Lean Startup by Eric ReisTraction by Gabriel Weinberg
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Thank You@37AngelsNY@angelawlee
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Top Lessons of EntrepreneursSpeakers-Davida, Georgie, Samira37
DAVIDA ARNOLD@GIRLGAMECHANGER
The 3 KEYSTop Tips for Entrepreneurs
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DAVIDA ARNOLD@GIRLGAMECHANGER
Stay WokeRiseShineGrind
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What do you love?How will you support what you love?Who will love it too?
@GIRLGAMECHANGER
If You Love It, Do ItWhat do you love?How will you get it? Who will love it back?
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What do you love?How will you support what you love?Who will love it too?
@GIRLGAMECHANGER
#TrustYourLightBack off, but never downPivotTell your best story
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Thank youdavida.E.arnold@GirlGameChanger
Georgie-Ann Getton-Mckoy CEO & Founder of Illicit Mind Inc
Find me
@GeorgieBeHumble [email protected]
5 Lessons for Entrepreneurs
@GeorgieBeHumble
You will fail,
suck it up!
@GeorgieBeHumble
Stop NETWORKING
Start CONNECTING!
@GeorgieBeHumble
EatSleepHustle REPEAT.
@GeorgieBeHumble
GSD -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Get Shit Done!
@GeorgieBeHumble
OWN IT !
@GeorgieBeHumble
Speaker Ty HealthMarketing Leads
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1. You need a budget to do good brandingBranding is about the choices you make and the attitude you show in everything.2. Branding is the responsibility of the marketing or PR departmentNope, every department impacts your brand.3. Branding is fluffy. No branding is strategic. No better way to spend your time. A brand is the soul of company. Branding is always about people.
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Founder of Spectacled Marketer. Lead for Agency and Partner Education at LinkedIn Got my start in digital marketing at Google - Engineer speak.Digital marketing for 13 yearsI live in NYC, love brunch, running and have a pitbull named BaileyI do this because I love to help people make sense of things Information is power
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Think about the last major purchase you madeWhat was it?I am building a studio within my home so for me it was a DSLR camera and lighting equipment
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Times have changed. Years ago marketers mostly hunted blasting users with ads. Whether or not there was interestToday it is more like a watering hole people realize they have choices We skip ads, we block ads but we flock to the experiences and brands that move us
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Also we are now marketing to an audience of audiences When you post something awe inspiring and moving It gets shared again and again
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This new environment where it seems a marketer has little control may seem frightening to some. I believe that it presents a real opportunity
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It presents an opportunity to be magnetic. Instead of the old outbound marketing methods of buying ads, buying email lists and praying for leads,inbound marketing focuses on creating quality content that pulls people toward your company and product, where they naturally want to be. In essence, you earn the right to someones attention instead of buying it. You earn the right to market to someone by giving helpful content in return.
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As a marketer you are charting a path that builds a relationship with your ideal customerWith content, you guide them from education all the way through to purchase
OWN YOUR OWN MARKETINGSource: Eloqua, Kapost
To leadership, the risk is amplified because the return on investment (revenue) isnt always immediately recognizable. The question most executives want to know is Did each inbound marketing activity impact the sale? Funny, we dont ask sales people which sales call they made that turned the opportunity into a sale, yet marketing is expected to produce that kind of analysis. Again, inbound demands a change in mindset at the executive level.
It takes time to realize a return on content marketing efforts up to 8-12 months according to Top Performers. But, keep in mind inbound is a form of perpetual marketing. Its not about blasting campaigns, its about creating content that acts like bait and attracts the right prospects at just the right time.
Customer Journey
Hi my name is Tyrona Heath, Im the Founder of Spectacled Marketer and a digital marketing practitioner with more than a decade of experience.
People have transformed how they consume information, research products and services, make purchasing decisions and share their views and experiences.
Despite this transformation, most businesses are using an outdated marketing and sales playbook that is essentially the same today as it was 10 years ago. In marketing today, there is a talent gap, a technology gap and a strategy gap that has led to a performance gap.
This is where Marketers of Tomorrow comes in.
Marketers of TomorrowTM is an integrated inbound marketing system for consistently driving leads and building the credibility of your organization.
Delivered in an online or live course, it helps marketers looking to leapfrog the painful learning period and grow faster.
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Understanding your audiences decision making journey is incredibly important and what makes inbound distinctIt recognizes that marketing doesnt have to be transactional Especially when you position yourself as an expert guide your customers can rely on.
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It recognizes that you dont propose on the first date. It would be bold as hell but kinda freaky to be like Thanks for the coffee, will you marry me?
Content Engineering
Hi my name is Tyrona Heath, Im the Founder of Spectacled Marketer and a digital marketing practitioner with more than a decade of experience.
People have transformed how they consume information, research products and services, make purchasing decisions and share their views and experiences.
Despite this transformation, most businesses are using an outdated marketing and sales playbook that is essentially the same today as it was 10 years ago. In marketing today, there is a talent gap, a technology gap and a strategy gap that has led to a performance gap.
This is where Marketers of Tomorrow comes in.
Marketers of TomorrowTM is an integrated inbound marketing system for consistently driving leads and building the credibility of your organization.
Delivered in an online or live course, it helps marketers looking to leapfrog the painful learning period and grow faster.
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With Social Media, email marketing, blogging and search engine optimization You light a path to your watering hole so the audience you serve can connect with you.
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WHAT DOES YOURContent ENGINELOOK LIKE?
Creating Quality Content
IT'S DOESNT HAVE TO BE THAT HARD
REPLACE IMAGE
Tools: Asana, Google Docs, Basecamp, Trello, Hubspot, CoScheduleMap Out Editorial Plan
Promote Powerfully
Hi my name is Tyrona Heath, Im the Founder of Spectacled Marketer and a digital marketing practitioner with more than a decade of experience.
People have transformed how they consume information, research products and services, make purchasing decisions and share their views and experiences.
Despite this transformation, most businesses are using an outdated marketing and sales playbook that is essentially the same today as it was 10 years ago. In marketing today, there is a talent gap, a technology gap and a strategy gap that has led to a performance gap.
This is where Marketers of Tomorrow comes in.
Marketers of TomorrowTM is an integrated inbound marketing system for consistently driving leads and building the credibility of your organization.
Delivered in an online or live course, it helps marketers looking to leapfrog the painful learning period and grow faster.
https://www.useronboard.com77
To be successful you also must recognize human naturePeople dont really want your productThey want a better version of themselves. Give them fireball Mario.
\
Source: Matthew Barby and KISSmetrics
How oftenshould you share old content to social media?Judging from the above numbers on impressions and reach, it seems quite possible to increase the rate at which you share the same content on social media without running the risk of flooding your followers with the content theyve already seen. Whatever frequency youre considering, you can likely get away with even more. I like the way that Nicole Kohler, writing at the Shareaholic blog, puts it:Only sharing your content once on social media is a rookie mistake. Studies have shown that sharing your blog posts and other content several times will get you more retweets, views, and comments. As crowded as these networks are, it is unlikely you would bother anyone with multiple shares.
Heres a popular sharing schedule, courtesy of Matthew Barby and KISSmetrics, you can try for every new blogpost you create. We use a version of this for scheduling our new content at Buffer.
Measure Performance
Hi my name is Tyrona Heath, Im the Founder of Spectacled Marketer and a digital marketing practitioner with more than a decade of experience.
People have transformed how they consume information, research products and services, make purchasing decisions and share their views and experiences.
Despite this transformation, most businesses are using an outdated marketing and sales playbook that is essentially the same today as it was 10 years ago. In marketing today, there is a talent gap, a technology gap and a strategy gap that has led to a performance gap.
This is where Marketers of Tomorrow comes in.
Marketers of TomorrowTM is an integrated inbound marketing system for consistently driving leads and building the credibility of your organization.
Delivered in an online or live course, it helps marketers looking to leapfrog the painful learning period and grow faster.
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Finally, begin with the goal in mind Map it out and see how your marketing is translating into customers
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Subscribe to My Blogbit.ly/spectacledblog87
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Tyrona (Ty) Heath is the Global Lead for Agency and Partner Program Development at LinkedIn. Ty is also the Founder of Spectacled Marketer, an inbound marketing education practice that helps customers grow business using inbound marketing. Clients benefit from Tys experience at Google Inc. where she delivered marketing product education to thousands of Google employees, partner agencies and resellers.
Ty has an MBA in Marketing and Management from Emory Goizueta Business School and an Economics degree from Georgetown University. Ty leads the 4 year old Spectacled Marketer education practice and currently serves as Lead Faculty for Digital Marketing and Social Media at Bay Path University. Ty Heath Bio
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Behind the ScenesLegal & VCRicha Lynn Loacker, Michael Maccombiewww.BrandEntrepreneurs.com
The Thing About StorytellingMike MacCombie
@mikemaccombie
www.BrandEntrepreneurs.com98
BOSTON SPEAKERS
Startup Ecosystem SpeakersMegan Corson Joanne MarkowKit PangPaul Varadianwww.BrandEntrepreneurs.com
Social Impact 101Speaker: Susan Musinskywww.BrandEntrepreneurs.com
Our Approach and ImpactSaturday, October 15
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The Social Innovation Forumbuilds networks that create social change
#Our work is built on building capacity for Investors and Supporters, as well as Innovators and Entrepreneurs, and then connecting the two so that resources can flow to support social impact. Our unique approach is working on both sides to advance social change.Engaging and informing funders and investors so they can direct resources most effectively.
Educating and supporting leaders of nonprofit organizations and social impact businesses so they can deliver the most effective solutions to social issues.
Making connections and building relationships across diverse communities so people can help each other to generate significant social change.
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Our Investor & Supporter Community
2,672Funders, Business Leaders, Philanthropists
1,845
Attendees at 46 Events
102Funders
$360,000Value of In-Kind Partner Services
238High Level Volunteer Roles
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SIF Core Programs 2016
75 portfolio organizations13th year171 applicants 8 orgs24 month program115+ volunteer roles
24 portfolio organizations4th year52 applicants 6 companies12 week program20+ volunteer rolesSocial Innovator AcceleratorSocial Business Accelerator
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Our ApproachPartnerSelectAccelerateBuild NetworksMeasure
#Accelerating positive social change across greater Boston to create a healthier, more vibrant community
ArtsCollege AccessEducationEarly ChildhoodHealthy AgingHomelessnessHuman TraffickingLGBTMental HealthSustainabilityVeteransViolence PreventionYouth Development
SIFs Accelerator is designed to help innovators move their work to the next levelOne-on-one ConsultingExecutive CoachingPresentation CoachingRelationship BuildingGraphic DesignIn-kind Partner SupportBetter articulate their uniqueness and effectivenessScale up their marketing and communications effortsDevelop and track a set of measureable outcomes, leading to increased program performance and impactAttract new funders, advisors, and other supporters
Innovator ResultsProgram Components}
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200,000+ lives impacted in 2015
Over $24 MillionCash and In-kind services to portfolio groups
2xInnovator revenue growth in 4 years
75 Nonprofits24 For-profit Businesses
Investment in 50%of our social impact businessesTogether we are having an impact
#updated to $24 million June 2016Bootcamp participants not included in 75 #
Select Past Innovators and Entrepreneurs
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MargaretStewart LindsayFoundation
The Fish Family Foundation Many Individual Angel and Family FundersOur Key Funders In-kind Partners
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Thanks!Susan MusinskySocial Innovation Forum617-492-2305
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press & marketing SpeakersEbony Reed (Associated Press) Christine Healy (Boston inno)www.BrandEntrepreneurs.com
Funding 101Speakers: Paul Varadian(Advisor,investor)jason kraus (Prepare 4 vc)www.BrandEntrepreneurs.com
Funding your Startup
By Jason Kraus
Background
Types of outside funding
What problem does your company solve?(Problem slide)Why should we invest and why now?(Marketing/Growth plan, Financial projections, Exit strategies or comparables, the deal)
Why are you the right team for the job?(Management team, Traction, Competitive Analysis)How big is this problem area?(Market Size and industry data)What is your solution?(Product, value prop/competitive advantage)Elements of a Pitch Deck
5 Most common pitch deck mistakes
Step 1Step 2Step3Step 4Step 5Use revenue multiples of comparable sales to determine future sale value (year 5)Research market size for overall market, your niche, and expected addressable market
Determining your valuationCreate financial projections for the first 5 yearsAdjust for future funding roundsRoll back valuation to allow first-round investors an incentive to invest now (~10x return)
Q&A sessionPlease contact Jason Kraus with any further questions:
508-444-2571
Thanks!
Branding 101Workshopdoug foxwww.BrandEntrepreneurs.com
Myths & Mistakes Of Startup Branding
Who am I?
20+ year marketing strategistSignificant global brand experienceAudience-centric platformsSimplifying complicated offeringsDifferentiating in cluttered categoriesMassChallenge MentorMITX Up Team LeaderWho Am I?
RailPod. Voxel 8Startup Hackathons
From B2C to B2B and beyond
Lots of big consumer brands, But differentiating strength B2BBrand Fox focus
Brand Fox is a marketing consultancy specializing in buildingdynamic and impactful brands that will connect emotionally and convert rationally.
Time and time again the quick Brand Fox always jumps past the lazy or mis-targeted brand.What is Brand Fox?
What is a brand?What mistakes to avoid?Positioning WorkshopQ&AAgenda
What is a Brand?
Lots of definitions out thereDifferent things to different audiences
Bulletsmoremoremorelevel 2Title here
- Sometimes painfulLots of misconceptionsEspecially with startups.
We already have a logoWere not advertisingWell grow virallyOur _________ is betterWe dont target consumersWe dont have timeThats for big companiesWe dont need a brand because
Actual things heard99 DesignsMicrosoft
A persons gut feeling about a product, service or companyBrand defined:
Every single one has a brandEvery conversation = brand impression1000s of impressions
Customers/UsersProspectsInvestorsMediaPartnersEmployeesFriends/FamilyPerson =
To lots of important audiences
Gap exists between desired and realityHarder than ever to control brandPeople come to know brands by the problems they solveSimple, Different, Relevant, BelievableBeyond marketing - ExperienceConsistency is key - focus and repetitionBrand exists - defined or not
pain and benefitslow budget, little time - focus, repeat
StrategyCultureHRFinancialAnd your brand impacts a lot
Top 5 Mistakes
So of course you need to focus, but how to go about it
For time starved, heres what to avoid
Sharpen your focusWhat you are/arentWho you target/dontArt of relentless reductionSimplify your messageSharp value propositions penetrateMulti-point ones do not1. Shiny Objects
Cant be all things to all people
Message maps bring discipline
3 is the magic number
Yet reading through lots of your company positionings youre on the tail end of this
Actifio - IBM, HP, EMC
Actifio, the Protection and Availability Storage (PAS) platform company, pioneered the industrys first storage systems optimized for managing copies of production data, eliminating redundant silos of IT infrastructure and data management applications. By introducing virtualization into data management, Actifio delivers an application-centric, SLA-driven solution that decouples the management of data from storage, network and server infrastructure and reduces cost by 10x.Actifio - before Mike
Heres your phonebook on the bed of nails
For businesses that depend on their data, Actifio provides data management solutions that improve resiliency, agility and cloud mobility by virtualizing copy data.Actifio - with Mike
Nice sharp point
Big boys on heels
Study your audience deeplyUnderstand their wants, needs and desiresValidate your approachDemonstrate you understand themCommunicate benefits not features2. Lack of audience understanding
EvertrueAdvancement Software for Higher Education Looks like consultant companymore than softwareDeep audience understanding of their painsDoes your team know which highly engaged alumni to target?Do your development officers know who to call this week?How do gift officers easily stay up-to-date on donors?
What you do matters to audiencesHow you do it is more differentiatingWhy you do it is more motivatingUncover the Why!!3. Emphasizing only what you do
Simon Sinek
Some great examples
ZipcarWhat? Car sharing serviceHow? Technology improved member experienceWhy? Too many cars on the road Change the world
Which company do you want to rent from?Which company do you want to work for?
Customers make all decisions emotionally and justify them rationallyUncover emotional benefits of your offeringConnect emotionally first before converting rationallyEmotional connection will earn more time for rational story4. Ignoring emotion
50c or $1m
HubSpotMarketing LoveDeep emotional connectionCreate Marketing People LoveLearn Lovable Marketing
Brand stewardship starts internallyEmployees=brand realityBrand trainingAbility to communicateLive the brand5. Overlooking internal brand
Zappos family valuesDeliver WOW through serviceEmbrace and drive changeCreate fun and a little weirdnessBe adventurous, creative and open-mindedPursue growth & learningBuild open relationships with communicationsBuild positive team and family spiritDo more with lessBe passionate and determinedBe humble
Wouldnt you want to work here?
In summary
Brand mattersFocus, Focus, FocusKnow your audience intimatelyUncover the WhyConnect emotionally, then rationallyBrand starts internallyKey takeaways
PositioningExercise
Inventory messages Find the blue sky Find your point Craft positionings Validate Build the housePositioning exercise steps
What you doHow you do it differentWhy it matters1. Inventory messages
What you do
How you do it different
Why it matters
Leader
Innovator
Superior Product DomainExpert
LowRisk ValueProvider
Customer Intimate Operational Excellence Comprehensive Solution Low Cost
2. Find the blue sky
LeaderNot credible or audience centricInnovatorInnovation is risk - creates funnel mudComprehensive SolutionAll things to all peoplePlatforms to avoid
3. Find your point
Organizational StrengthsMarket NeedsCompetition
Competitive DisadvantageCompetitive AdvantageCommodity AttributesBrand Position
Organizational Strengths
Marketplace Needs
Competitor PositionsCompetitor 3Competitor 2Strength 2Strength 3Strength 1Need 2Need 3Need 1Competitor 1162
Shortest, succinct message that:Communicates what, how, whyRelevant to audience needsCredible to your offeringDifferent from competitionBoth emotional and rationalSustainable4. Craft positionings
Avoid the biz school formulaFor __________________________ our __________________________ provides ______________________ because of ____________________Instead use conversational languageClearer and more compellingBoth inside and outside the wallsDont be a robot
Stop waiting days for blood culture results. T2Candida accurately diagnoses sepsis pathogens in 3-5 hoursGoPure continuously purifies water on-the-go, ensuring clean, healthy water everywhere you need to be.Voxel 8 prints embedded electronics right on your desk - translating your imagination into functional 3D prototypes.Positioning examples
Confirm they get the pointKey MessageCompellingClear in presenting benefitRelevant to needsCredibleAsk lots of why questionsWhat evidence would help them believe statement is true?5. Ideally validate
6. Build the house
Questions?
Doug Foxwww.quickbrandfox.com@[email protected]
Shouldnt your brandbe a little more Foxy?
www.BrandEntrepreneurs.com174
SFO SPEAKERS
Startup Ecosystem Speakers Anitha VadavathaScott Sambucci Mark Sackettwww.BrandEntrepreneurs.com
Press & Marketing Speaker Masha Drokova www.BrandEntrepreneurs.com
Legal 101 SpeakerDebra Vernonwww.BrandEntrepreneurs.com
Top 10 Tips on Legal Issues for Startup Founders* * * Draper UniversitySeptember 6, 2016Debra Vernon, Esq.DLA Piper LLP (US)2000 University Avenue, East Palo Alto, CA 94303-2215P: (650) 833-2090Cell: (650) [email protected]
Branding179September 6, 2016
Picking the Company NameTip # 1: Focus time, energy and money on naming the businessBranding is valuableYou will avoid:Nastigrams claiming the name is in useLitigation in early stagesMarketing $$ spent on a name that has to be changedMorale hit because culture is tied to a nameName changes cost more down the line
180September 6, 2016
Legal Steps - Name AvailabilitySecretary of State Offices registration searches in states of incorporation and headquartersWeb searches for U.S. and international useDomain name registrationsTrademark databasesName and logo designsDomestic and international databasesLegal test: likelihood of consumer confusion
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September 6, 2016
Formation182September 6, 2016
Delaware C CorpTip #2: Form a Delaware C corporationIt is a mistake to skip formation, because this limits liability to the assets of the corporation, insulating founders from personal liabilityInvestors in the startup ecosystem are familiar with its benefits:Easy to form and manageLow feesPredictable case law and pro business courtsFamiliar to tech investorsStock and option issuances are simpleIt is more expensive to change the entity form later
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What are the other options?C Corp is the most popular entity for tech startupsOther options:S CorpCannot issue multiple classes of stockNumber of stockholders is capped at 100Cannot have foreign stockholdersLLC or PartnershipCash-flow businesses benefit from flow through taxationConsulting firms, construction firmsDisadvantages for traditional VC-backed modelDifficult to issue equity to employeesNot IPO readyB Corp (Public benefit corporation)
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Why Delaware?Delaware law is predictable Delaware courts are business favorableDelaware Secretary of State is customer friendlyIPOPublic company bears more risk, more liabilityWidely distributed stock versus small number of stockholders when private increases possibility of stockholder lawsuitHave to comply with more regulationsStock price fluctuations may lead to lawsuitsVery few downsidesFranchise taxes in DelawareDo not panic when you get your first Delaware Franchise Tax bill. Its always way off ($50k versus $500)
185September 6, 2016
Limited LiabilityTip #3: Observe corporate formalitiesCorporate form prevents piercing the corporate veilSeparate business and personal assets right awayBank accounts dont write personal checks for business costsFinancials from day 1Act through the corporationIncorporate prior to doing any business: launch, contracts, salesSign contracts in the company name so the company will be liable, not the foundersBusiness risks increase with customers and usersMaintain corporate recordsBoard meeting minutes Stockholder consents186September 6, 2016
Keep it SimpleTip #4: Keep it simpleEarly stage legal is not the place to get creativeUnique concepts => larger valuationUnique formation => larger legal billStick to the well worn pathSetting something creative in place early does not mean its set in stoneDual class common stock exampleThat said, tailor the documents to the company187September 6, 2016
Formation PitfallsTip #5: Set the structure and sign all documentsCommit to the cap table, buy-back rights, roles, responsibilities, cash contributionsCircumstances can change, founders may leave to do other thingsConflicts can arise over who has what stock and rightsSigned documents help avoid conflictsFailure to sign docs that relate to stock issuances and assign IP to the company will be road blocks when fundraising
188September 6, 2016
DIY HeadachesTip #6: Dont DIY! Bad things can happen!DIY websites dont notify users about all deadlinesRandom documents off the internet or from a friends company may not make sense in your situationMany do not address IP considerationsSome bad things that can happen: Missed 83b election deadlinesNot enough authorized shares for stock issuancesHigh price per share example to followFailure to make securities filingsFailure to assign IP to the company
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DIY HeadachesTip #6: Dont try this at home!
Missed 83b election deadlines:Section 83(b) election is filed with the IRS when a stock or option grant is subject to vestingThis form can minimize deemed taxable incomeNo second chances
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DIY HeadachesTip #6: DIY Costs More Later in Corporate Cleanup
Legal costs will be higher in the long run when you dont hire good counseluntil your first priced financing and they have to fix things that were done wrongthat the investors counsel discover in their due diligence process.
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Stock Tips192September 6, 2016
Stock = Precious CurrencyStock can help motivate and compensate the team and outside service providers when cash is scarce:FoundersEmployeesConsultantsAdvisorsDirectorsVendors
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Its a Beautiful ThingStartups can have a low valuation at formationThis translates into a low share purchase price for founders and early stage employeesThe low fair market value is based on:Uncertain prospectsUnproven conceptsNo operating historyNo contractsNo third party equity salesThe price per share can be minimal (par value)This is a great thing!
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Dont Blow the Option PlanTip #7: Dont mess up your common stock pricing!Issuing common to investors at a high price messes up FMVIf FMV = 3rd party price then have to grant options at that price tooGranting options at a high strike price is not competitiveCS = FMV set by the BoardThe Board should obtain a 409A valuation right after first round of outside funding
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Sample Cap Table196
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Investors197September 6, 2016
Early Funding SourcesBootstrappingFriends and familySeed rounds Individual angel investorsAngel fundsIncubatorsSeed funds
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Early Funding SourcesTip #8A: Limit the number of friends and familyBig F&F rounds create issuesSales of stock are subject to securities laws and require certain disclosure, filings and forms unless the sales are exemptMistakes can lead to fines, penalties, repurchase requirements, rescission rightsIt is a lot of people to keep informedThey are friends but now they also have legal rightsAt later stages, investors will look back at how you raised money in the past when they do diligence
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VC & CVCMost startups need outside funding to growRaising from institutional investors has pros and cons:Industry expertiseValuable contactsLong term relationship with potential further investmentLarger dollar amountsROI criteriaThorough due diligence reviewExtensive investor rightsComplete documentation will be requiredTip #8B: Given all these factors, Choose outside investors carefully!200September 6, 2016
Targeted FundraisingThursday, 9/22/16 SKTA Innopartners310 De Guigne Drive, Sunnyvale, CA 940856:00 pm 8:00 pm
Networking happy hour Presentation by J.D. Davids, managing partner of the Fronis Group
How to accelerate startup fundraising, find investors focused on your spaceand get deals closed
Details and registration are at the following link:https://fronisgroup.leadpages.co/smartmoney-workshop-09-22-16/
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Intellectual Property202September 6, 2016
Intellectual Property ProtectionIP is one of the companys most valuable assetsCompetitive advantage to enforce IP rights against others who infringeTypes of IPTrade secretsPatentsCopyrightsTrademarksConfidential business informationMust use all reasonable means to maintain secrecySource codeNot protected under patent lawProtection unlikely under law as well
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IP Creation and OwnershipEmployees and consultants create IP for the companyEnter into a Proprietary Information and Invention Assignment Agreements (PIIAAs) with every hirePIIAAs assign IP to the companyUse solid formsComplete all of the schedules and exhibits if n/a type None under exceptions Investors review these documents in their due diligenceThey will want to see a signed agreement from every current and former employee and consultant204September 6, 2016
Trade SecretsTip #9: Tiered and protected disclosure is key!Build trust and confidenceDisclose in stages over timeConfidentiality clauses in PIIAAs and consulting agreementsSign NDAs with third parties205September 6, 2016
Non Disclosure Agreements (NDAs)NDAs can facilitate high level discussionsUseful with:Strategic partnersConsultants and contractorsPotential employeesVCs dont sign NDAsMake NDAs mutualBoilerplate NDAs are easy to undermineTailor NDAs to the IPCourts may dismiss general form NDAs
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Hiring207September 6, 2016
More Employees = More Laws The more you hire, the more employment laws will apply to your company.1 employee - subject to sexual harassment laws5 employees - CA discrimination laws and pregnancy leave law15 employees - discrimination laws for non-California employees50 employees - health insurance under the ACA, protected leaves with benefits75-100, 100+ employees - further regulations
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Good Hiring PracticesTip #10: The use of a third party outsourced HR provider = less time devoted to employment disputes, litigation and audits!
Start with a solid set of employment documentationAvoid overuse of independent contractor status Risks include:EDD auditBack wagesPenaltiesFines More audits by other taxing agencies
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Good Hiring PracticesBasic employment documentationStock option documents - Plan, Notice of Stock Option Grant, and Option AgreementAt-Will employment offer letters PIIAAsEmployee Handbook (setting forth company policies on vacation, conflicts of interest, etc.)USCIS Form I-9 (identity and employment authorization)IRS Form W-4 (employee withholding)Benefit forms (e.g., health, dental, 401(k))
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Startups also need 211September 6, 2016
InsuranceStart with:General liability insuranceCyber insurance - privacy and data securityPrivacy policy and terms of use policyPrivacy policy: info the site collects, how it is used, use of cookies, steps taken to protect user confidentialityTerms of use: disclaimers, limits on use of site, limit on liability, dispute resolution, rights to refunds, IP rightsAs you hire:Employment practices liability insuranceAt fundraise stage:Directors and officers insurance (D&O)Key person life insurance
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Funding 101 SpeakerLaina Greenewww.BrandEntrepreneurs.com
Laina [email protected]
Co-founder& Founder of GETIT, Inc
6th September, 2016
Trusted network of angels for impact
Laina GreeneAudrey TanLizzy Hawkins
Focused on women social enterpreneursWorking on 3 SDGs
TEAM
Overturning unconscious bias& showing women are good investmentsA ratio of 3:1 indicates that an investment of 1 delivers 3 of social value. -The Guide to Social Return on Investment
Women entrepreneurs bring in 20% more revenue with 50% less money Invested than entrepreneurs who are men -Forbes
Investments in womenparticularly in education and labor force participationlead to read GDP growth, as women take their earnings and invest them back in their families and communities. - Goldman Sachs
Impact funding
How to know your investor? GIIN
How to know if you fit their criteria?
What to put in your pitch?
And/Or Emotion and Story
Hatch for Good
Your own clarity can help your chances of successFor more info email me [email protected]
Branding 101 SpeakersMichiel RauwsMonica PhillipsKyle Silvestrowww.BrandEntrepreneurs.com
X2.AI Providing quality mental healthcare,regardless of income or locationMichael Rauws | [email protected], Chief Executive OfficerX2AI 2016 X2AI Inc | Questions to [email protected]
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psychological chatbot to provide psychological support
2016 X2AI Inc | Questions to [email protected]
We created Tess.
Tess is our conversation-based, psychological AI. Now yes, she can be considered as your personal, digital psychologist, however, she is not intended to replace psychologists, simply to take some of the workload from them and offer an array of extensive services that the psychologists would then be able to provide to the patient, significantly enhancing both treatment and the relationship with the psychologist.
Also, psychologists are actually able to encode their own psychological or psychiatric style into Tess, so essentially Tess is a digital version, an uploaded version of an actual psychologist.
So we get a lot of comments from people who havent chatted to Tess before thinking shes a Siri for mental health. This is not exactly accurate. Unlike Siri Tess has a stateful conversation, Tess remembers everything you say and learns from it. Unlike Siri, Tess recognises emotion and her conversation flow is based on this recognition. Also, Siri doesnt really ask you questions. Tess does. And automatically too. Unlike Siri, Tess bonds with the user.
So, what does Tess do?226
How we create valueHospitals / Health Insurance Companies Behavioral Health: allowing psychologists to care for 50 instead of only 5 patients per day
Human Resources DepartmentsCoaching: managing stress / anxiety / burn-outs / conflict situations
Singularity University : Field Innovation Exchange 2016 X2AI Inc | Questions to [email protected]
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Innovation for NGOsStartups to prove productExpenses are covered
Empowering Syrian refugees in LebanonContinuous psychological support for 60 people99% AI / Chatbot1% psychologists on stand-by
2016 X2AI Inc | Questions to [email protected] University : Field Innovation Exchange
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2016 X2AI Inc | Questions to [email protected] University : Field Innovation Exchange
Put your words into action providing quality mental healthcare, regardless of income or location
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Dont be Uber for cats
Do people really care? Am I really making their lives better?
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Text Tess: [email protected]
2016 X2AI Inc | Questions to [email protected]
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This is much longer than your clients, investors or future team members will have to tell them who you are and why youre doing what your doing.
Why do you exist?
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I invite you to join me on a journey to under stand Why and in doing so lets redefine the known to find new answers.
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This picture we see a picture of a break. What is the purpose of the break? Shout it at me. There is no wrong answer. But you could also see it as Trust, because without Breaks allow us to go faster.
http://auto.howstuffworks.com/auto-parts/brakes/brake-parts/brake-rotors2.htm
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This is elevator is and have you all seen the sing that says dont use if there is a fire.
http://www.ltfexperts.com/elevatorsescalators.htm
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Now imagine that youre on the 75th floor of a building, wouldnt you want to use the elevator rather than running down 75 floors.
Whats your risk? Whats the probability that youll be able to successfully reach the ground floor?
http://www.washingtonblade.com/2014/01/08/playwright-dies-n-y-fire/
Does anyone know.
Whats a Brand237
Is it a logo, a web site, a white paper, possibly but I dont think so. These are associations of a cause, a purpose, a belief based on trust.
But in its simplest format, a brand is Data, that has an association.
Its Data
Whats Data238
1.5 trillion messages are now processed by Azure IoT per month800 trillion storage transactions per day on Azure storage system
Blood, sweat and tears.
Driven by a cause, a purpose, a belief that would change the course of the world.
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The Connected cow farming installation in the Netherlands has been established with cows wearing pedometers to monitor the movement and motion of the animals throughout the day.Didnt you think that cow pregnancy-tracking pedometers were part of the Internet of Things and its cloud analytics-based machine learning intelligence offering before now? Moo to you then.
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David Roberts has panted a beautiful picture.
Whos the first to know that a parking lot is empty? Aerial photos, video cameras, these can all predict human behavior, which in turn leads to opportunities for engagement.
In the path, this is the first time that we get to use Big Data as a predictor of success.
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Whos the first to know if the mall is going to be empty?
Whos the first to know that a parking lot is empty? Every answer is a human related answer.
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The parking lot. There is no Human, and this is where we use computers to generate data.
Aerial photos, video cameras, these can all predict human behavior, which in turn leads to opportunities for engagement.
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This is Data, but lets look at it another way.
2,000,000,000 (BILLION)
5,479,452 Documents per day
228,310 Documents per hour
3,805 Documents per minute
63 Documents per second
By the time Im finished well of created more than 33k new documents
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When I started SyTrue I believed that we could change healthcare by teaching the computer how to read. In doing so, wed transform care. So I started looking for people who believed what I believed, that they could also transform the world through data
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This is data, and lets call this Data, Peter. Peter is the could be your customer, investor, or future team member, but often organzaitons are scared of Peter because thye dont know anything about him.
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This is also data and lets call her Sarah. We know a lot about about Sarah as shes the CEO, but Sarah has a tough job because she has to sell to Peter.
She has to convey Why Peter should be associated with her company
How do we find Peter?248
Whats Sarahs biggest problem?She knows very little about Peter249
Whats Sarahs biggest problem?She knows very little Peter250
Is not that she doesnt know anything about Peter, there are so many Peters out there.
Whats Sarahs biggest problem?Missed Opportunities 251
There are so many Peters that we are missing opportunities engage an audience who believes in the same think we believe.
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Branding is about values, there is so much noise in the world. You're not going to get many chances to get people to remember much about you. But you have the opportunity to leave them with a feeling.
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So you have to be very clear what you want them to know about you and why the should share in your vision.
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If you dont, Youll be playing the entrepreneurial lottery
How do you find people who believe what you believe?255
This is not about features and benefits that most MBA schools and marketing organization push, because theyre not going to buy what you do, they will buy Why you do it.
Customers/Investors/Employee want to believe in why youre doing this and how it will make their world a better place. Lets exam how some lessons Ive learned along my personal journey that I think will help you in yours.
Content256
We have to be very clear what we want people to know about us, we only have one chance to create a message that resonates.,
Advice:If you can write, then draft the message, if you cant write, find an advisor, give them some equity to help you create this message but most importantly you have to ensure they believe in what you believe, or the message will be lost.
257Visceral
People want to feel, they want to be inspired, its human nature, thats what we are about. People want a leader and as a CEO, this is your job.
258Viral
Viral comes in many forms. Today we think Facebook, Twitter, or other social mediums but if you think about most of history, social media didnt exist, people joined a movement because they wanted to be part of something larger than themselves.
The way I define Viral is when another person recommends you to their friends, their network. When this happens, something magical has occurred. They Trust you.
Data is the backbone of decision making. 259
I started by saying that a Brand is data, but isnt it really
Data is the backbone of decision making. 260
I started by saying that a Brand is data, but thats really not accurate because data unemotional, logical, but its no personal.
TRUST is the backbone of decision making. 261
People want to know who you are, what you stand for, where do you fit in this world?
To illustrate my point, let me share a video with you,
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Welcome to the new conversation263
Did you feel that? There was no mention of a product but it left you with a feeling. Its with that feeling that Id like welcome to the new conversation which will serve as a platform in creating a great company.
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[email protected]: @ClinicalNLPTwitter: @SyTrueinc
Facebook: https://www.facebook.com/Sytrue.incLinkedin: https://www.linkedin.com/company/sytrue
www.BrandEntrepreneurs.com266
DC Speakers
Startup Ecosystem Speakers Girolama Bui, Andrew C, Amanda Gant, Saleema Vellani www.BrandEntrepreneurs.com
press & marketing SpeakersLisa R. Roepe (Fast Company) Eric H Schwartz (DCinno)www.Csouffrantntim.com
SpotLight EntrepreneursElen Awalom, Arad Malhotra, Grant Erhuanga, Barika Edwards, www.csouffrantntim.com
Government Panel Patrick Kirwan, Antwaun Griffinwww.Brandentrepreneurs.com
Intro to Startup Global Expanding international trade assistance for early-stage companies
U.S. Department of Commerce - National Export InitiativeEvents conducted in partnership with the Global Innovation Forum, a project of the National Foreign Trade Council
Why should U.S. startups think internationally?World consumers have a proven demand for U.S. goods and services96 percent of world consumers and 80% of world GDP are located outside the United States Advances in technology and communication services, e-commerce platforms in particular mean that it is easier than ever for these international consumers to purchase from U.S. companiesU.S. companies exported $2.3 trillion of goods and services in 2015
Why should U.S. startups think internationally?Many U.S. startups, when connected with the proper resources, have demonstrated an ability to excel and thrive in the global marketInternational competitors will fill the gaps left by U.S. startups that do not seize global market opportunities
"The Internet is changing things. It's enabling our global growth." - Dave Berryman, CEO, Gibson GuitarNashville's The Pasta Shoppe exports 10% of its innovative pasta globally
Advantages of Startups vs. Traditional SMEsStartupsTraditional SMEsUnconstrained by Geography:Aggressively pursue growth regardless of national boundariesNarrow Scope for Growth:Little aspiration to go beyond specific geographic or customer baseFocused on Growth:Achieving rapid scale is main strategic focusBuilding Value:The focus is on building sustainable long-term valueChanging Business Model:Iterate multiple times to find model that is repeatable and scalableTraditional Business Plan:Planning based on executing defined and established business processesAdditional Measures:Indicators include firm age, number of employees, ownership, revenue levels, etc.Additional Measures:Defined metrics include number of employees, level of revenue, etc.
What are the Challenges Facing Startups Seeking International Expansion?Prohibitive costs:Business and market development in foreign markets require a high capital commitment that many early-stage companies cannot affordLack of Capital:Acquiring the capital necessary for pursuing market opportunities can be extremely challenging for many early-stage companiesHow to Start:Many entrepreneurs and founders without prior experience often become stuck on the question of how to start. Trepidation towards navigating a difficult process can stifle the impulse to export
What are the Challenges Facing Startups Seeking International Expansion?Finding Reputable Partners:Many startups struggle to find reliable partners for product distribution, joint operations and partnerships, or to achieve regulatory compliance. Finding the right partners can be an opaque processProtecting IP:Potential loss of control over IP or a perception of inadequate protection from theft of IP or trade secrets are major concerns for tech entrepreneursLack of Resources and Knowledge:Early-stage companies often do not have access to the knowledge and expertise necessary for developing new opportunities in international markets, or a full understanding of how to comply with foreign laws and regulations governing critical issues including privacy, labeling, and customs procedures
Why Startup Global?The Startup Global initiativehelps entrepreneurs and early-stage companies think globally from day one by providing the know-how and technical assistance they need in order to export their goods and services efficientlyStartup Global connects early-stage companies with established incubators and accelerators, U.S. government resources and corporate representatives
How is a Typical Startup Global Event Structured?Startup Global programs include day-long educational seminars in partnership with local incubators and accelerators to address the most important issues facing startups in the global business environment
Key TakeawaysEarly-stage companies seeking to enter global markets face difficult headwinds including insufficient capital, lack of knowledge of foreign tariff regimes and business practices, fears over inadequate protection of IP and trade secrets, and difficulty in finding reliable foreign partnersWith the proper assistance and know-how, even brand-new startups can find success in global markets The goal of Startup Global is to help alleviate these problems and connect motivated startups with the federal and private resources they need in order to seize international business opportunities and flourishStartup Global events that have occurred since the programs inception have showcased the wide variety of resources and opportunities available to startups and have garnered positive reviews from attendees
Legal Speaker Top TipsRadiance Harriswww.BrandEntrepreneurs.com
Radiance W. Harris
Top 10 Legal Tips & Tactics
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About MeFounder and Managing Attorney of Radiance IP LawPreviously worked at major global law firm representing Fortune 200 companiesRecipient of 2014-2016 Washington, D.C. Rising Stars for Intellectual Property by Super LawyersLoves traveling and sweets
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DISCLAIMER
This content is a resource for educational and informational purposes, does not constitute legal advice, and should not take the place of hiring an experienced attorney. This content also does not create an attorney-client relationship between you and Radiance Harris or Radiance IP Law.
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Top 10 Legal Tips & Tactics284
Choose a distinctive business name Do a trademark/name availability search at the outsetFederal and state databasesInternetDomain name - www.instantdomainsearch.com Register business entity www.dcra.dc.gov Get those business permits and licensesTake care of insurance and finances
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Protect intellectual propertyTrademarks - http://www.uspto.gov/trademark Patents http://www.uspto.gov/patent Copyrights www.copyright.govTrade secretsObtain permission before using other peoples contentEstablish ironclad business contracts Dont forget those website policies Get professional help
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Radiance W. Harris, Esq.301-367-3433 [email protected] Sign up for my FREE legal cheat sheet for start ups and monthly newsletter at www.radianceiplaw.comThank You!
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www.BrandEntrepreneurs.com287
2016 BUSINESS BOOT CAMPS