life of a start up
DESCRIPTION
Its not easy! Exicon COO and Founder, Cat Purvis gave a presentation at HKUST to executives on the world number one Kellogg EMBA programme (entrepreneurship and family business module). A full house listened to Cat’s experience and insights into how to carve the way through the world of a start up. http://www.exiconglobal.com/report-download/life-of-a-start-upTRANSCRIPT
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October 2012
Enterprise Cloud for Mobile & Applications Supply, Logistics and Warehousing for Enterprise & Consumer Apps
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We are all about the App and its ingredients
Fonts Distribution
Services
APIs
Security
Developers
Versions
Updates
Platform
Marketing
Geography
Code
Languages
Images
Appstores
User Interface Licenses
Specifications
Documentation
Analytics
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Our Application Lifecycle Management Platform
ID, Authentication, Access
Member Registration
Development Life Cycle
Communications
Asset Life Cycle
Publishing and Distribution
Analysis
Manage and Control
Dashboard
BYOD
Developer
Developer
Developer
APIs
APIs
APIs
Apps
Benchmarking and References
Monitoring, Alerts, Analytics
Asset Repository Enterprise App
Stores, Distribution
ROI and Measurement
Find out who is doing what in Apps and APIs
Developers and Project Management
Specification and Bid Management
Promotion, Matching, Collaboration, Management
Matching you to three qualified Developers
Manage access, deployment and performance
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Dashboard controls and monitors assets and ecosystem
1. Control Development Projects
2. Manage Developer Relationships
3. Monitor Apps and APIs
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An established developer community
1,522 Development Houses connected with OEM’s, Enterprises and Brands globally
60 Countries actively serving Global Fortune 1,000 companies
10,000 Successful applications for your benchmarking and competitive analysis
60+ Countries
4,000+ Software Houses
~12 Developers/ISV
~50K Developers
29% AMERICAS
36% EMEA
35% APAC
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Results speak louder than words. 80% of our work with our customers is repeat business.
Our customers
Offices Hong Kong San Francisco
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Savings and Benefits
Huge Savings Minimum IP Leakage
Faster TIME to Market
Up to US$ 10M You control and learn
50% faster from Napkin to
Download in multiple countries
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So how did we get here? Depends when you asked
Phase 1 – Outsourced Project Management, 2001 – 2 founders
(I sold out to my partner, 2003)
Phase 2 – “Incubator” for our own ideas - “Catalist Group”, 2006 – 2 founders (Money and Operations) – Magazine, China Ad Network, Email Database, Warehouse for apps to name a few.
Phase 3 – Brought Exicon back for Vendor Approvals, 2007.
(Catalist team, Rolled all businesses together, sold or closed)
Phase 4 – Cloud Enterprise App Warehousing and Logistics.
First Tier 1 clients for our SaaS platform as of last week – HP and GMH
(2 Partners, including both Founders of Catalist, 5 Board members, Advisory Board of 3)
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So what is start up like?
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Start ups are like Trench warfare
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Start ups are really f%$£@*g hard.
No joke.
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Its lonely
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What tree?
Choose your partner wisely
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What have we learned about resourcing?
1. You need money to pay the bills
2. You need money to attract the talent – if not what else have you got?
3. You need diversity
4. You need all the help you can get
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Implementing vision takes time
Inception
Funding
V1.0 Your Brain
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Life Cycle of a Start-up
Seed Pre-seed Early, Growth
Ideation Prototype Launch Growth
IPO
Exit Sell-off Merger
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Financing options
Self Financed v Funded
Bootstrapping Private Equity
Debt (take a loan)
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Financing options - Bootstrapped
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Financing options - Funded
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Raise money when you can,
not when you want to.
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1. Look for investors who have founded and run a start up before.
2. Look for investors with some of their own money in play.
3. Look for investors who understand the problem and are excited about your solution
4. Look for investors who can help you with more than money
Investors are NOT your friend!
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Spending the money
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The magic of innovation
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What are some obvious mistakes we made?
1. Hired PLUs
2. Hired when desperate, repented at leisure-stressfully
3. Didn’t make tough decisions early
“ Hire Slowly, Fire Quickly”
4. Leverage others experience early
1. Hiring decisions
2. External support
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Outsourcing is start ups friend 1. Physical - Your existing network, consultants, accounting etc
2. Virtual - Elance.com, Freelancer.com, Exicon
3. Leverage technology – Expenisfy, BambooHR, Basecamp,
4. Interns (this building’s full of them)
Challenges 1. Timezones
2. Communication – Languages and Meaning
3. Quality
4. Cost
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In Conclusion
• If you haven’t got it yet, start up is hard
• Get all the money you can BEFORE you need it
• Get more than you think you will need
• Be smart about what you are giving up to whom and why and when
• Everybody is in front of an entrepreneur for a reason.
• Take all the help you can get
GOOD LUCK!!
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COO / EXICON
Cat Purvis
WEBSITE
www.exiconglobal.com
FOLLOW US @exicon
Thank you
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Appendix
Insights and inspiration from…
http://www.slideshare.net/AmitRanjan/financing-options-for-technology-startups (Slides 17 and 18)
http://www.slideshare.net/joestump/starting-your-startup(Slides 12, 16, 21 and 24)