building upon an idea how to
DESCRIPTION
Presentation used at Tedx Bucharest and for the closing Keynote of IE MBA venturelabs in 2011, adaptation of an older presentation I did in 2009TRANSCRIPT
My idea today
• One of you to turn an idea into a transformative business
• Useful roadmap for building a business out of an idea
eRepublik Labs: Crafting Game Worlds
• I like games & business• Boxed games model sucks & huge market, moving online• I’m inexperienced enough to think I can do it better• Found somebody who believed me & could help
The idea•Anyone can have an idea
•Being the first Helps (not always)
•But execution is everything
•Regrets = the sum of the risks you did not take
•Skill, Focus, Equity (Sweat / Cash) & Luck
What problem do you solve?
•Best ideas: simple solution to large problem
•Often initial idea won’t be the right one
•A good team can turn that around / evolve
•Right idea + Bad team = Fail
The Team
•Co-founders key
•Start with sweat equity
• Inexperienced = advantage?
•You want smart doers
•Not to serious
•No i in Team
•CEO must drive the vision
•You will fight & split
Private Launch, Friends & Family $
•Only F&F fund @idea stage unless:
•Launch something quickly (make it exclusive)
•Get feedback, iterate, improve, validate
•No $ on marketing (thank you social tools)
•Learn! Change the idea / product if needed
Public Launch / Angel $
•Research online Angel list etc.
•Compete: LeWeb, TC 50, Seedcamp etc.
•Get $ from angels or sales
•Timing for Launch : Depends
•Promote like mad, kickstarter?
•Look bigger than you are
•Be cheap & hire slowly fire quickly
Growth / VC $ / Profits
•VC $: for successful companies to grow faster
•Forget it if not the above or one of these:
•To little or to much can kill you / ego trap
•VC priority: 1> growth 2 > profits Yours: depends
•Harder choices, costlier mistakes, FOCUS
YOU WILL EVENTUALLY
LAND ON YOUR FEET
Contact
Alexis BonteChairman Trilulilu, Zonga
ceo and co-foundereRepublik Labs
[email protected]/alexisbonte
We are [email protected]
