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Copyright   VCs At Work   Tarang Shah


What’s one most important thing that’s common
among all Successful Companies?
Copyright   VCs At Work   Tarang Shah


What Should be your Mission Statement?
Copyright   VCs At Work   Tarang Shah


How to Delight your Customers?
Copyright   VCs At Work   Tarang Shah

             Anatomy of Successful Entrepreneurs

Balanced Ego – Big ego to                                        Real Visionary – Can
pursue unconventional ideas           Big & Bold Head            see the whole company
but in-check ego to surround          – “The World is            beyond current product
with people smarter than him          Not Enough” ;              Big Ears – Listens
                                      Not afraid of non-         actively and intently to
Authenticity – Product view           consensus view             customers and analytics
informed by 10k hours of
tinkering; deep experience that                            Passionate Disinterest –
provides insights into the fine                            Passionate to seek out the
nuances of market and customer                             truth but not biased about the
                                                           outcome – highly objective
Iterative – Not afraid of failures
                                                             Genuine & Avid Passion to
but like Edison enjoys discoveries      High Integrity       solve the problem and make
through methodical trial and            – Transparent        a difference -> A Missionary
errors                                       and
                                         Trustworthy        Personal Relevance to the
Extremely Focused – breaking vision                         pain point being solved –
into short-term metrics and single-                         motivation beyond making
mindedly pursuing it.                                       money
Copyright   VCs At Work   Tarang Shah


Step 1: Understanding the “Pain Point” or “Need”
Copyright   VCs At Work   Tarang Shah
Copyright   VCs At Work   Tarang Shah


Step 2: Validate the Need
Step 2 : Validate the Need




 Changing                                      Highly
                  New          Supporting
 Customer                                     Attractive
               Technology    Infrastructure
 Behavior                                      Market
Disrupting Established Markets



                             New          New Lean Mean
Fat Cats
                          Technology           Cat




 Fat Telcos            P2P Sharing             Skype



Blockbuster             Internet               Netflix
Identifying New Promising Markets



                                                                        ???
                                                             Netscape
                                                             eBay
                                                     Cisco   Amazon Mobile
                                           3Com
                               Apple                         Internet
                               Microsoft              WANs
                                            LANs
                        IBM
               Intel               PCs

                         Micro
                       Computers
              Chips
Transistors

  1950                 1960        1970            1980         1990          2000
What are some of the Emerging Platforms
               Today?


Smartphone   iPad/
                      Facebook   Twitter
             Tablet




  PayPal     Amazon      ???       ???
Step 3: Find the Product-Pain Fit




                 Copyright   VCs At Work   Tarang Shah
Copyright   VCs At Work   Tarang Shah


Step 3: Find the Product-Pain Fit
Your Challenge..




Copyright   VCs At Work   Tarang Shah
Your Challenge..




Copyright   VCs At Work   Tarang Shah
Your Challenge..




Copyright   VCs At Work   Tarang Shah
Your Tool - R.I.P. (Rapid Iteration & Pivoting)




              Copyright   VCs At Work   Tarang Shah
Copyright   VCs At Work   Tarang Shah

R.I.P. (Rapid Iteration & Pivoting)
High RPM & Small Turning Radius




        Copyright   VCs At Work   Tarang Shah
Copyright   VCs At Work   Tarang Shah

    Bonus Tip: Building World Class Team




                     Lift the quality    Hire unfettered
Hire for Cultural
                      of team with       passion without
 fit as much as
                      each hire and     ego & restrictions
functional skills
                            fire         of past learning

                    Hire people who     Fire promptly and
Hire People you
                    can start adding         amicably
 have worked
                    value day 1 – No     someone who is
with well before
                    time for training     not fitting well
VC & Startup Success lessons for Small Businesses

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VC & Startup Success lessons for Small Businesses

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  • 21. Copyright VCs At Work Tarang Shah What’s one most important thing that’s common among all Successful Companies?
  • 22. Copyright VCs At Work Tarang Shah What Should be your Mission Statement?
  • 23. Copyright VCs At Work Tarang Shah How to Delight your Customers?
  • 24. Copyright VCs At Work Tarang Shah Anatomy of Successful Entrepreneurs Balanced Ego – Big ego to Real Visionary – Can pursue unconventional ideas Big & Bold Head see the whole company but in-check ego to surround – “The World is beyond current product with people smarter than him Not Enough” ; Big Ears – Listens Not afraid of non- actively and intently to Authenticity – Product view consensus view customers and analytics informed by 10k hours of tinkering; deep experience that Passionate Disinterest – provides insights into the fine Passionate to seek out the nuances of market and customer truth but not biased about the outcome – highly objective Iterative – Not afraid of failures Genuine & Avid Passion to but like Edison enjoys discoveries High Integrity solve the problem and make through methodical trial and – Transparent a difference -> A Missionary errors and Trustworthy Personal Relevance to the Extremely Focused – breaking vision pain point being solved – into short-term metrics and single- motivation beyond making mindedly pursuing it. money
  • 25. Copyright VCs At Work Tarang Shah Step 1: Understanding the “Pain Point” or “Need”
  • 26. Copyright VCs At Work Tarang Shah
  • 27. Copyright VCs At Work Tarang Shah Step 2: Validate the Need
  • 28. Step 2 : Validate the Need Changing Highly New Supporting Customer Attractive Technology Infrastructure Behavior Market
  • 29. Disrupting Established Markets New New Lean Mean Fat Cats Technology Cat Fat Telcos P2P Sharing Skype Blockbuster Internet Netflix
  • 30. Identifying New Promising Markets ??? Netscape eBay Cisco Amazon Mobile 3Com Apple Internet Microsoft WANs LANs IBM Intel PCs Micro Computers Chips Transistors 1950 1960 1970 1980 1990 2000
  • 31. What are some of the Emerging Platforms Today? Smartphone iPad/ Facebook Twitter Tablet PayPal Amazon ??? ???
  • 32. Step 3: Find the Product-Pain Fit Copyright VCs At Work Tarang Shah
  • 33. Copyright VCs At Work Tarang Shah Step 3: Find the Product-Pain Fit
  • 34. Your Challenge.. Copyright VCs At Work Tarang Shah
  • 35. Your Challenge.. Copyright VCs At Work Tarang Shah
  • 36. Your Challenge.. Copyright VCs At Work Tarang Shah
  • 37. Your Tool - R.I.P. (Rapid Iteration & Pivoting) Copyright VCs At Work Tarang Shah
  • 38. Copyright VCs At Work Tarang Shah R.I.P. (Rapid Iteration & Pivoting)
  • 39. High RPM & Small Turning Radius Copyright VCs At Work Tarang Shah
  • 40. Copyright VCs At Work Tarang Shah Bonus Tip: Building World Class Team Lift the quality Hire unfettered Hire for Cultural of team with passion without fit as much as each hire and ego & restrictions functional skills fire of past learning Hire people who Fire promptly and Hire People you can start adding amicably have worked value day 1 – No someone who is with well before time for training not fitting well