This document outlines the lessons learned by the founder of Grabcad over several years starting their company: [1] Don't give up after initial failures and celebrate small victories. [2] Getting customer feedback is important for product development. [3] Surrounding yourself with supportive people like an understanding spouse is crucial for entrepreneurship. [4] Experimentation and learning from others are key parts of the innovation process. The most important lessons are building the right team of people wanting to learn and develop together.

1. story by Hardi Meybaum
Stanford Engineering
European Entrepreneurship & Innovation
1/23/2012
@hardi_meybaum
@grabcad

3. 12/2009 - The first order
Lesson learned #1: don’t give up after first failure

4. 01/2010 - The first $ order

5. 01/2010 - The first $ order
Lesson learned #2: celebrate victories - earned $25,
celebration dinner $60

6. 02/2010
How to get more engineers
to work on orders?

7. 02/2010
Quit a day-job,
week before 1st child was born
Lesson learned #3: have a very very understanding wife

8. 06/2010
Raised a first seed money
to build a CAD Library
Lesson learned #4: raising the money from Europe is difficult and
expensive

9. 08/2010 - launched Library
grabcad.com/library/bobber-bike-1
Lesson learned #5: build a minimum product

10. 09/2010 - Meet Terry
grabcad.com/terry.stonehocker
Lesson learned #6: talk to customers

11. 10/2010 - from static Library to
community
Lesson learned #7: learn how others innovate

12. 10/2010 - moved to Boston
booked this room for 3 months but got that one
Lesson learned #8: everything is not like it appears
Lesson learned #9: you are in or out, no middle choice

13. 12/2011- raising money in US
‣ 200 investors, advisors, customers .. in 3 months
‣ 1 investor partner meeting and a no
Lesson learned #10: talking to people gives you lot of great feedback
Lesson learned #11: raising money in US is difficult

14. 02/2011 - what is this?

15. 02/2011 - lets through it out there
Lesson learned #12: you are not the smartest person out there

16. 03/2011 - joined Techstars
Lesson learned #13: learn from other entrepreneurs

17. 05/2011 Challenges
grabcad.com/challenges

18. 05/2011 - Challenges
Lesson learned #14: experiment

19. 05/2011
started A/B testing
Lesson learned #15: A/B test

20. 06/2011 closed Seed Round
7 angels
Lesson learned #1: don’t give up after first failure
(remember the no from Partner Meeting?)

21. 12/2011 - Remember Terry?
grabcad.com/terry.stonehocker
now works for top customers in mfg industry
Lesson learned #6: talk to customers

22. 1/2012 - Series A
$4M from inside investors
Lesson learned #16: read this blog - www.forentrepreneurs.com

23. and most important
grabcad.com/about
Lesson learned #17: the TEAM matters the most
Lesson learned #18: find people you enjoy working with
Lesson learned #19: find people who want to learn and develop

25. story by Hardi Meybaum
Stanford Engineering
European Entrepreneurship & Innovation
1/23/2012
@hardi_meybaum
@grabcad