American Idol - Bootstrapping
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My bootstrapping preso from the MIT Enteprise Forum 2010
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American Idol - Bootstrapping
- 1. Living the Dream an investment opportunity . . .
- 2. Living the Dream an investment opportunity . . . Investment Sought: $1,150,000 Timeframe: 12 months Poten7al Return: 10X
- 3. Living the Dream an investment opportunity . . . Salary for me: $120,000 / 12 months Weight reduc7ons and fitness program: $120,000 / 9 months
- 4. Living the Dream an investment opportunity . . . Hair Transplant: $90,000 / 6 months Cosme7c Surgery: $120,000 / 9 month Wardrobe & Stylist: $400,000 / 1 month
- 5. Living the Dream an investment opportunity . . . Voice Training: $100,000 / 12 months Guitar Lessons: $100,000 / 12 months Dance Lessons: $100,000 / 12 months
- 6. Living the Dream an investment opportunity . . . Are you in? You shouldn’t be…
- 7. Your dreams and ideas don’t own you…
- 8. Thesis: It is a great 7me to start a business in Texas!
- 10. It doesn’t maPer . . . The VC model is dying (for now) AND VC money is usually bad for your business! ‐ VC/Angel investment = lower chance of a 1‐5x return ‐ VC/Angel investment = higher chance of complete failure ‐ VC/Angel investment = slower exit (typically a decade) …oh, did I men,on, you have a 50% chance of ge7ng fired in the first year a<er a VC investment?
- 11. What kind of business should you start? – What are you passionate about? – What experience do you have? – How much money do you have? – How much money can you raise? – How likely is your business to succeed? Gates (so<ware), Dell (resale) and Cuban (service) started businesses that generated posi,ve cash from the start, they did not need much (if any) outside investment.
- 12. Revolu7on Ropes Sandy Stephens ‐ BeSer ropes ‐ $60MM market ‐ Part‐@me un@l launch ‐ Profitable
- 13. ShopSavvy Rylan Barnes ‐ BeSer shopping ‐ $12B market ‐ Part‐@me un@l launch ‐ Growth Stage
- 14. RP Valet RP Payervand ‐ BeSer parking ‐ $7B market ‐ Part‐@me un@l launch ‐ VERY Profitable
- 15. Architel ScoP Ryan ‐ BeSer IT services ‐ $3.2‐10B market ‐ Part‐@me to launch ‐ Profitable
- 16. Be Capital Efficient • Start a business you can build without outside capital. • Focus on services, soDware or technology. • Assume you will need to be profitable. • Start selling immediately. • Partner prolifically.
- 17. Ques7ons?