Killing your darlings

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  • Kenneth HellemSeed Nordic - Startup Factory Twitter: kenneth.hellem

    Killingyour darlings

    LSC Meetup - Zagreb March 31, 2015

  • 3% Europes Population

    33% Billion $ Startups

    The Swedish startup-scene is booming

  • Co-working spaces Incubators & accelerators Inspiration & knowledge

    But the environment is only part of the answer

  • I DEA



    What Ive learnt from pre-seed investing

    Its impossible to predict the success of an idea (But most likely it will fail)

    Its more fun to build stuff, than to invest

    A rockstar team can go far with any idea (Dont be afraid to pivot or completely change ideas)

  • Idea Generation (~1 day)

    Market Validation (4-6 weeks)

    Venture Development (3-4 months)

    Market research Network validation

    Team gut-feel

    Concept development MVP / Prototype Market validation

    Business model & plan

    Product development Customer development Generate first revenue Raise seed investment

    Incorporation Hire team

    Scale Business Raise A-Round

    The Pivot Seed Nordic, Startup Factory

  • MVP: 2 weeks

    Launch: 2 months

    Hanging on: 2 years

    Teaching New Yorkers to cook at home

  • Your idea is not as good as you think it is

    Confirmation bias is very real(Founders fall in love with their ideas)

    Market validation is king (Stop assuming - start selling)

    Only the very best ideas will survive(The quicker you can kill the bad ones the better)