socon09 keynote - jeff haynie
DESCRIPTION
my slides from socon09 keynote on february 7, 2009 in Atlanta, Georgia at Kennesaw State UniversityTRANSCRIPT
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Experiences from the Valley
(Nine tips to survive the current crisis)
Jeff Haynie
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JEFF HAYNIE
CEO, AppceleratorSerial Entrepreneur
Twitter: jhaynieBlog: blog.jeffhaynie.us
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Houston, we’ve got a problem
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1. Location. Location. Location.
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1. Location.
What are these cities known for?
D.C. Nashville NYC LA
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1. Location.
What is ATLANTA known for?
Old Media Hip Hop Bio Med Security
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1. Location.
• MSA• Adam Software• Mindspring• ISS• JBoss
• Apple• Yahoo• eBay • Google• Facebook
Does location really matter?
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2. Hire the best, fire the rest.
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2. Hire the best.
Hiring the wrong people cost:
Time Money Culture
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2. Hire the best.
Does the crisis offer opportunity?
Surround yourself with challengers.
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3. Measure. Analyze. Confirm.
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3. Measure.
To win the game, you have to know where the goal line is:
Use quantifiable data A/B test your theories Don’t be afraid to refine
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3. Measure.
Venture backed business must think about “enterprise value creation”
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4. Cash is King.
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4. Cash in King.
Startups are largely a survival game:
Survival requires capital Reduce your burn by 15% Get more money (if you can)
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4. Cash in King.
Let me say this again:
Conserve your cash Generate more cash Cut expenses Raise money if you can
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5. Collaborate with your Community.
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5. Take care of your community.
Your community is your lifeline:
Ask questions Engage through conversations Show your love Communication is key
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5. Take care of your community.
Your community will listen:
Most times, communities tell you what they want even if they don’t know they are
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6. Think Global, Act Local.
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6. Think Global. Act Local.
Lots of great local activities:
Jelly / Co-Working Startup Riot / Startup Gauntlet Atlanta Web Entrepreneurs
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6. Think Global. Act Local.
Exciting new funding opportunities:
Angel Lounge Shotput Ventures Tech Operators ATDC Edison Fund Atlanta Seed Fund
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7. Have a Plan B & C.
(You’re going to need it)
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7. Have a Plan B & C.
What’s that saying about best laid plans?
You’ll end up in a different place than you began - guaranteed
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7. Have a Plan B & C.
Entrepreneurs:
Classically over-optimistic Terrible planners Stubborn
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8. Build your network.
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8. Build your network.
In the end, the world is about relationships.
LinkedIn Facebook
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9. Ideas are worthless. Execute.
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9. Ideas are worthless. Execute.
Your idea sucks.
Get heads down and execute Tell the world through success
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The long road ahead
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Shotput Ventures:
technology startup accelerator fund that focuses on capital-light web services companies and assists in the conception phase.
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Shotput Ventures:
David Cummings Mitch Free Wayt King Sanjay Parekh Allen Graber Suleman Ali Dave Wright Jeff Hilimire
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Shotput Ventures:
$5,000/team - $5,000/founder8 companies
March 6 – accepting apps May 18 – program starts Aug 10 – program completes
http://www.shotputventures.com
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Nothing stands between you and your success.
(well, except maybe you)
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Flickr Photo Shoutouts• http://flickr.com/shutterhack• http://flickr.com/psd• http://flickr.com/cayusa• http://flickr.com/sigalakos• http://flickr.com/two-wrongs• http://flickr.com/chavals• http://flickr.com/stewf• http://flickr.com/actiondatsun• http://flickr.com/tyrussmalley
• http://flickr.com/clompers• http://flickr.com/trucolorsfly• http://flickr.com/markknol• http://flickr.com/dan_h• http://flickr.com/cvanfleteren• http://flickr.com/stevenerat• http://flickr.com/carrierdetect• http://flickr.com/jazzmasterson• http://flickr.com/re-ality• http://flickr.com/bluesmuse• http://flickr.com/niallkennedy