K4 - Stefano Tresca (Co-Founder of iSeed)

THE STORY

BEHIND A STARTUP5 CHAPTERS

5 MYTHS 1 (BIG) TRUTH

Stefano L Trescawww.iSeed.co@startupagora

this is NOT me

this is me

*Made all the mistakes you can make already (and a bit more).

WHY ME 15 years in

startups of any size (up to 6.7 billions)*. Love to help young

startups.

#1THE IDEA

THE CHOICE

Myth #1Doing a

startup is cool.*

*I think it’s really cool

but ...

PAUL GRAHAMCo-Founder

Y Combinator

WHO IS RIGHT?

Working for a large company

is like waterboarding.

MY DADCo-Founder

of ... Me

Working for a large company has been the best decision

in my life.

WHO IS RIGHT?

They’re both right.

YESTERDAY working for a big company was cool. TODAY working for a startup is cool. TOMORROW ???

Do a startup because

YOU want, not

because they say is

cool.

#2THE IDEA

Myth #2A good idea wins every

time.

ARMANDO BIONDISerial Entrepreneur

Pick1.com

You “just” need to work 150% of your time. Sorry … I mean 250%.

You need a good IDEA, excellent EXECUTION, good TIMING, high PERSEVERANCE and some LUCK ... to start.**don’t forget to look for a good TEAM asap.

#3EXECUTIO

N

WARNING this is where I

get really unpopular with the professors.

Myth #3Work hard and you will be

rewarded.

As a startup CEO I slept like a baby: I woke up every two

hours and cried.

BEN HOROWITZEntrepreneur &Venture Capital

You WILL work hard but you can STILL die

broke.

Who is this man?

N. TESLA a genius

died broke

T. EDISON a genius died rich.

PROF. DENNIS GABOR, Imperial College London. Noble Prize.

JUST

CHECKIN

G

ON YOU

N. TESLA a genius

died broke

T. EDISON a genius died rich.

#4FUNDING*

*My area. I will be less emotional here ...

I have been rejected by 300 venture

capitals.

TIM WESTERGRENCo-Founder

Pandora

Other speakers are on the

professional fund rising today.*

*So let me provide a few practical

ideas for the beginners (all

tested).

• Friends & Family, your network is stronger than you think.

• Lower the lifestyle, start early or it’ll be to late.

• Sell your stuff on eBay, you can buy everything again later.

• Work in your free time, simple mindless task (deliver pizza, TaskRabbit, etc.).

• Public or students competition, even if you lose you’ll promote your startup.

During the night I was

working as a dubber on

Elance.

YOU DON’T TRUST ME?

CHRIS SACCALowercase Capital 2 billion manager

... but don’t forget to think big

•Hire a grant application specialist, they often work on a success fee.

•Hire a fundraiser, not simple but sometimes they work on a success fee (I do it if I like the project).

#5SO WHY A STARTUP?

SPENCER FRYCo-Founder

Carbonmade

It’s a struggle to save your

company’s life - and your own skin - every

day.

IT DOESN’T LOOK SO COOL ANYMORE !

No MythThe truth is ...

I don’t know !

But here I am and I can’t

imagine doing anything different.

Not all those who wander

are lost.

BILBO BAGGINGS

If you liked it tweet

@startupagora

THANK YOU !

QUESTIONS?

Stefano L Tresca(SMALL) ANGEL, MENTOR, LAWYERwww.iSeed.copr@iseed.co@startupagora