After reading this book, I found even if I don’t start up a business, I could improve the way I think about my career path and the way I talk to others in a presentation.

How to generate idea?

• Start with why(customers’ need) instead of what(technology)
  • customers’ need: the hole in market
• Two component to develop:
  • Vision
    • to investors
      • is there disruption? -> create new market/customers
  • Function spectrum
    • to target audience
      • is there any relevance? -> will it solve my problem?
• How to develop the two components?
  • Vision First:
    • how to scale? Where to go?
  • Identify
    • what should be insource and outsource?
    • For example, marketing website could be outsourced.
  • Monitor and validation
    • explore more audience
• What are the thought process to generate the ideas?
  • Phase1
    • So what is the result when there is the hole in the market?
    • Who cares?
  • Phase2:
    • What is the specific problem
    • Who has it?
    • Do they know they are picked?
    • What’s the cost for them?
    • How much would they pay?

Where is the Market and Customers?

• What market to explore?

  You can’t create new/unique category of your market Because you don’t have time or money to do that.

• How to develop customers?
  • Phase 1:
    • discover: the customer out of echo chamber
    • validate: trial on early customers
  • Phase 2:
    • invest: build company
    • create: the mainstream sales
      • get feedback from early adopters
        • combine feedback from customers and product manager
        • then, introduce to mainstream sales

How to Pitch?

• Style
  • likable & self-aware & saler mode
  • sit down
• Slides
  • test with “who cares / so what”
• Structure to generate the conversation with V.C.:
  • start with “Luck”: to meet the investors
  • White teeth: the speaker should be appealing
  • More date: to have more time to talk about the product
  • Tech: how to achieve it
• Example:
  • “We can…”
  • “What if I told you that you could …”
• Conclude with answers:
  • Why this area?
  • Why with us?
  • Why now?
  • tips: don’t repeat the product or summary
• more reference: presentation Zen.

How to Hire?

• Principle:
  • Hire to the organization chart
  • Talent over diversity
• How to hire?
  • get investors involved
  • go outsource and virtual (on-demand)

Put up a Website

• There is not too much credential that you can not put on website

If you don’t have any competition, you don’t have a market. -> Website should help customer or investors understand your market better and your unique place in it.

How to divide the Equity?

• 1/3 founders
• 1/3 employees
  • may run the risk in leaving current job

• 1/3 investors

• TODO: check dilution in equity

VC

• How to pick right VC?
  • Domain expertise
  • in-house service
  • initial customer referral
• How to maintain relationship with VC?
  • build team and help early sale
  • help grow company in operation or management
• Have more mentors than just VCs

Bao-Jhih Shao

A software engineer writing something to keep the memory.

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