An Entrpreneurship 101 class.

1. Entrepreneurship 101
Hampus Jakobsson
@hajak

2. 0.
The absolute basics:
Why and Why not?

3. “The most dangerous risk
of all - the risk of spending
your life not doing what
you want on the bet you
can buy yourself the
freedom to do it later.”
- Randi Komisar

4. economical bankruptcy
emotional/relational/
health bankruptcy
trying too little and
therefore becoming bitter
becoming an asshole
ONLY THINGS YOU
CAN FAIL AT

5. Solve a problem
worthy of you

6. 1.
What do you need?
Money
Time
(Team)
(Great if you can code)
(Soon you really need this)
Money

7. PROBLEM
SOLUTION
WAIT!
Don’t work in the
future (but live there!)
DISCOVER
PRODUCT
SCALE

8. 2.
How?
2.1. Find a problem

9. 2.
2.1 How to find a problem
- You have one! (Founder-Product fit)
- Ask a lot of people (LinkedIn, etc)
- Join a startup

10. WAIT!If I hear the word
business plan
I will explode!
PLAN:
QUESTION:
VISION:
2 weeks
2 month
2 years

11. 2.
2.1 How to find a problem
- You have one! (Founder-Product fit)
- Ask a lot of people (LinkedIn, etc)
- Join a startup

12. 2.
2.2 What kind of problem?
- Common problem - find the need easily
- Painful problem - people will help you

13. 2.
2.3 How to understand a problem
- Don’t talk about your solution. Never do.
- Ask people about their day.
- How do they solve X today?
- Have they tried other solutions? What was good?
- What was the last time it failed. What happened?
- Challenge if it really is a problem.
- Try to kill your idea.
- Distill what the problem really is.

14. WAIT!Ask for help!
www.malmostartups com
@malmostartups
.

15. 2.
2.3 Deliver crap
- You want to kill you own idea. What is the core
assumption/problem that you can prove wrong?
- In two weeks deliver a “solution”.
- Your goal is pain: retention and interaction. Not
growth.
- Iterate. Iterate. Iterate.
- Stop if: problem proven wrong or you hate it.

16. 2.
2.4 Zoom out
- CAC and LTV. No, gut feel as a proxy.
- The plan, remember?
- 2 years, 2 months, 2 weeks
- Look at your hypothesises - talk about them

17. Ideal situation
100 people using your
product all the time.

18. 3.
How to raise money?

19. 3.
3.1 Bootstrap

20. 3.
3.2 Grants
- Vinnova
- ALMI
- LUIS

21. 3.
3.3 Angels
- Find people who care about your problem
- You should like them and they should add value
- Include them in the discussion (bi-weekly update)
- People usually invest 100-300k SEK
- When you have one you can usually syndicate 2-4

22. What turns angels off
1. Founders are unlikable or dishonest
2. Outsourced core competencies
3. Founding team owns <90%
4. Not understanding the market (“if we get 1% of the world market…”) or
how to get the product to market (“we’ll post on hackernews or do a
kickstarter…”)
5. Not really wanting to solve real scalable problems
or themselves invested in it

23. WAIT!But venture capital?
Massive waste of
your time probably.

24. 3.
3.3 Angels - what do you need?
- To care about a relevant problem
- Users that use the “product”/prototype
- A team that can do things (not consultants)
- To be likeworthy, honest, and ambitious
- A path - no, not a business plan!

25. What would you
do even if you
weren’t paid?
And what would
you be proud if
you did?
What could you
dedicate your life
to?

26. Hustle
Perfection is the enemy
Focus on learning
Have fun
Be likeable.

27. The best way to learn is
to be part of a startup.

28. Thanks!
Hampus Jakobsson
@hajak