The document provides advice for entrepreneurs on getting started with a business, raising money, and building a successful company. It recommends having passion for an idea and taking the first leap rather than waiting. For raising money, it advises avoiding friends and family as investors and securing an anchor investor first. When building the business, the document stresses the importance of shipping products frequently, measuring key metrics, learning from competitors, and solving real problems for customers.

1. Lessons From Both Sides of the Table Mark Suster The Startup Conference (Nov 2011) @msuster

2. Agenda 1. Getting Started 2. Raising Money 3. Building Your Business

4. 1. Getting Started

5. Have an idea

6. You don’ t have to be a genius

7. You just need to get started Most people are just talkers or dreamers

8. You need to be passionate about it

9. You No Longer Need to Wait

10. Be Careful of Too Many Co-Founders Watch what VCs do …

11. Huge premium for taking the first leap If you’re confident – go for it !!!

12. 2. Raising Money

13. If possible avoid the three F ’s (Friends, family & fools)

14. Stack Ranked Angel Options Your Industry, Wealthy Expert Helpful Tech Professional Wealthy Entrepreneur Doctors, Dentist, Lawyers, Real Estate Friends, Family & Fools

15. You need an anchor angel investor

16. If you show proof the rest usually follows

17. Don’t Cold Call VCs

18. In Era of Social Media if You Can’t Get an Intro to a VC, Hang Up Your Cleats Now

19. Intros from Portfolio, Entrepreneurs, Lawyers, Angels, etc

20. VCs want Management , Market Size , Money and …. Momentum

21. You Need to Create a Sense of Urgency

22. And We All Still Act Like We Did in High School

23. All Too Often FOMO (Fear of Missing Out) Drives Deals

24. If it doesn’t feel good when you’re courting, imagine after you’re married

25. Too Many Entrepreneurs Try to Optimize Time $ Company Progress / Valuation Dilution

26. When Markets Turn, Progress Might Not = Valuation Time $ Company Progress Valuation

27. And Some Good Companies Simply Don’t Get Funded Time $ Company Progress Valuation

28. So When The Hors D’oeuvres Tray is Passed Take Two

29. And Put One in Your Pocket

30. Don’t Take the Whole Tray!

31. Shoot for 18-24 Months of Runway

32. 3. Building Your Business

33. Create a Sense of Urgency in Your Business

34. Ship Product The death of many companies is the inability to ship frequently enough

35. Don’t Let Your PR Get Ahead of Product Quality

36. Don’t Let a Pivot Become Traveling

37. You Manage What you Measure

38. Learn From The Competition. Don’t Discount Them

39. Triangulate

40. In the End Trust Your Own Judgment

41. Focus on large, disruptive markets

42. Don’t Be a Conference Ho

43. Solve Real Problems

44. Skate Where the Puck is Going

45. Outside Perception of Startups

46. Reality. Go in Realistic.

47. Have fun Startups are roller coasters, enjoy the ride!

48. 5 Points to Remember (if nothing else) 1. Get Started 2. Get Yo Money 3. Tackle Real Problems 4. Ship Product 5. Don’t be a Ho

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