1. Start-it-up with
NO SEED MONEY
but becoming a business
that every investor loves.

2. An Inconvenient Truth

3. The conventional Stanford startup model:

4. A successful startup =
The conventional Stanford startup model:

5. A successful startup =
technology +
The conventional Stanford startup model:

6. A successful startup =
technology +
seed money +
The conventional Stanford startup model:

7. A successful startup =
technology +
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)

8. A successful startup =
further rounds +
technology +
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)

9. A successful startup =
further rounds +
technology +
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)

10. A successful startup =
further rounds +
technology +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)

11. A successful startup =
further rounds +
technology +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

12. A successful startup =
further rounds +
technology +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The conventional Stanford startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

13. The Silicon Valley startup secret recipe:

14. A successful startup =
The Silicon Valley startup secret recipe:

15. A successful startup =
Team & Execution +
The Silicon Valley startup secret recipe:

16. A successful startup =
further rounds +
Team & Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The Silicon Valley startup secret recipe:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to accelerate the grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

17. A successful startup =
further rounds +
Team & Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The Silicon Valley startup secret recipe:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to accelerate the grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

18. A successful startup =
further rounds +
Team & Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
The Silicon Valley startup secret recipe:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to accelerate the grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

20. Rethinking the startup model:

21. A successful startup =
Rethinking the startup model:

22. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

23. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)

24. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)?

25. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)?

26. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)?
a profitable company with
a scalable business model

27. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)?
a profitable company with
a scalable business model

28. A successful startup =
further rounds +
Team and Execution +
IPO or any exit
options
like acquisition,
acquihire
seed money +
Rethinking the startup model:
(~US$500,000 to $1M to kick start)
(~US$2M to $100M series B
or up to grow)
(~$10M to $1B or $24B IPO
to capture money back in
their investors’ pocket)?
a profitable company with
a scalable business model

29. Rethinking the startup model - Benefit 1:

30. Rethinking the startup model - Benefit 1:
seed money + (~US$500,000 to $1M to kick start)

31. A successful startup
Team and Execution
Rethinking the startup model - Benefit 1:
seed money + (~US$500,000 to $1M to kick start)
a profitable company with
a scalable business model

32. A successful startup
Team and Execution
Rethinking the startup model - Benefit 1:
seed money + (~US$500,000 to $1M to kick start)
a profitable company with
a scalable business model

33. A successful startup
Team and Execution
Rethinking the startup model - Benefit 1:
seed money + (~US$500,000 to $1M to kick start)
a profitable company with
a scalable business model
a scalable business
model for the world

34. Rethinking the startup model - Benefit 2:

35. Rethinking the startup model - Benefit 2:
A successful startup =
Team and Execution
$3M earning every year

36. Rethinking the startup model - Benefit 2:
keep self-sustain
and share among
yourself
A successful startup =
Team and Execution
$3M earning every year

37. Rethinking the startup model - Benefit 2:
keep self-sustain
and share among
yourself
A successful startup =
Team and Execution
$3M earning every year
further rounds +
IPO or any exit
options
like acquisition,
acquihire

38. Rethinking the startup model - Benefit 2:
keep self-sustain
and share among
yourself
A successful startup =
Team and Execution
$3M earning every year
further rounds +
IPO or any exit
options
like acquisition,
acquihire

39. It’s not for everyone

40. There is always
a solution

41. Team and Execution

42. Team and Execution
1. Be Innovative about it

43. Think Beyond Product Innovation

44. Think Beyond Product Innovation
OfferingUniqueness

45. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability

46. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Product
Innovation
e.g. Jawbone

47. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber

48. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber

49. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Business
model / charging
model innovation
e.g. Line
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber

50. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Business
model / charging
model innovation
e.g. Line Marketing
Innovation /
Growth Hacking
e.g. Dropbox
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber

51. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Business
model / charging
model innovation
e.g. Line Marketing
Innovation /
Growth Hacking
e.g. Dropbox
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber
Supply Chain
Innovation
e.g. Airbnb

52. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
Business
model / charging
model innovation
e.g. Line Marketing
Innovation /
Growth Hacking
e.g. Dropbox
Organizational
Innovation
e.g. Lifehack
OneSky
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber
Supply Chain
Innovation
e.g. Airbnb

53. Think Beyond Product Innovation
OfferingUniqueness Execution Sustainability
People
Power
Business
model / charging
model innovation
e.g. Line Marketing
Innovation /
Growth Hacking
e.g. Dropbox
Organizational
Innovation
e.g. Lifehack
OneSky
Process
Innovation
e.g. Spotify
Product
Innovation
e.g. Jawbone
Service
Innovation
e.g. Uber
Supply Chain
Innovation
e.g. Airbnb

54. 1. The blue ocean
strategy: exploring
untapped market
opportunities

55. 2. Business model
generation: help
to come up with a
MVP quickly,
shorten the cycle
to 3-month
window

56. 3. Growth Hacker
Marketing: inspires
way to leverage on
existing big
platforms to go out
and reach your
target audience

57. 4. The lean startup:
matching the
methodology with your
resources on hand

58. Team and Execution

59. Team and Execution
2. Seek resources
to achieve it

60. Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

61. 1. Idea = something VC likes
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

62. 1. Idea = something VC likes
2. Plan = the deck
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

63. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

64. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

65. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
5. Resources = VC$$ to develop, equipment, office
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

66. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
5. Resources = VC$$ to develop, equipment, office
6. Context and territory = test the market with the
prototype
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

67. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
5. Resources = VC$$ to develop, equipment, office
6. Context and territory = test the market with the
prototype
7. Language = create the product around the startup brand
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

68. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
5. Resources = VC$$ to develop, equipment, office
6. Context and territory = test the market with the
prototype
7. Language = create the product around the startup brand
8. Agreement = a group of people are now locked by the
business plan and are obliged to grow it accordingly
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

69. 1. Idea = something VC likes
2. Plan = the deck
3. Gathering = finding co-founders and founding team
4. Pioneering = prototyping
5. Resources = VC$$ to develop, equipment, office
6. Context and territory = test the market with the
prototype
7. Language = create the product around the startup brand
8. Agreement = a group of people are now locked by the
business plan and are obliged to grow it accordingly
Deck-centric resources approach v.s.
Human-centric resources approach
Deck-centric resources approach

70. Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

71. 1. Agreement = a few people who is passionate about something got
together
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

72. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

73. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

74. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

75. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
5. Pioneering = re-pivoting, re-adjusting to come up with a workable
model
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

76. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
5. Pioneering = re-pivoting, re-adjusting to come up with a workable
model
6. Gathering = attracting people around this model, mentors (especially
those in your industry domain), sponsors, first clients, early adopters
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

77. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
5. Pioneering = re-pivoting, re-adjusting to come up with a workable
model
6. Gathering = attracting people around this model, mentors (especially
those in your industry domain), sponsors, first clients, early adopters
7. Plan = a business framework emerged by repeating several rounds
of 3-6
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

78. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
5. Pioneering = re-pivoting, re-adjusting to come up with a workable
model
6. Gathering = attracting people around this model, mentors (especially
those in your industry domain), sponsors, first clients, early adopters
7. Plan = a business framework emerged by repeating several rounds
of 3-6
8. Vision = you come up with a business that everybody is passionate
about with a common goal of making more money by not being
controlled by the obligation to grow other people’s money
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach model by Nigel Sykes,
Warwick Business School

79. 1. Agreement = a few people who is passionate about something got
together
2. Language = they all bring to table some skill sets and commitment
3. Context and territory = vigorously find the market and validate their
business hypotheses
4. Resources = be vigorous about finding their unfair advantages
5. Pioneering = re-pivoting, re-adjusting to come up with a workable
model
6. Gathering = attracting people around this model, mentors (especially
those in your industry domain), sponsors, first clients, early adopters
7. Plan = a business framework emerged by repeating several rounds
of 3-6
8. Vision = you come up with a business that everybody is passionate
about with a common goal of making more money by not being
controlled by the obligation to grow other people’s money
Deck-centric resources approach v.s.
Human-centric resources approach
Human-centric resources approach
the right place the right time
the right people
profit
maximisation
model by Nigel Sykes,
Warwick Business School

80. Team and Execution

81. Team and Execution
3. Join the team
who’s been through it

82. THIS IS HOW WE COOK
We’re devising our own startup methodology

83. GreenTomato Cooking Model

84. GreenTomato Cooking Model
identify good
cooks with
good potential

85. GreenTomato Cooking Model
come up
with recipes
that best fit
each cooking
lab
identify good
cooks with
good potential

86. GreenTomato Cooking Model
come up
with recipes
that best fit
each cooking
lab
>>>>>>>>>>
identify good
cooks with
good potential

87. GreenTomato Cooking Model
come up
with recipes
that best fit
each cooking
lab
>>>>>>>>>>
release
cooking labs
into self-sustain
restaurants
identify good
cooks with
good potential

88. GreenTomato Cooking Model
come up
with recipes
that best fit
each cooking
lab
>>>>>>>>>>
human-centric
resources approach
release
cooking labs
into self-sustain
restaurants
identify good
cooks with
good potential

89. Yup, it does feel like this.

90. What’s Next?

92. 1. find resources, other than money

93. 1. find resources, other than money
2. sharpen skills, other than coding

94. 1. find resources, other than money
2. sharpen skills, other than coding
3. seek mentorship, other than Golden