Most banks don't understand how and why startups are different from traditional commercial businesses. This was a 50-minute presentation to a $1.8B asset bank that wants to better understand and get involved in the emerging startup scene within their communities.
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What banks need to know about startups
1. The Story Behind Startups
…or how an English major started a software
company & how that can inspire you to be a better
banker & person, impact your community in an
amazing way, and possibly make you better looking!
17. Some Perspectives:
• “By definition startups are
unbankable.” – Eric Engelmann
• “Only morons start a business on
a loan.” – Mark Cuban
• “Many treat vendors like crap until
we think they have something to
offer.” – Ben Pankonin
36. In Your Startup
Communities:
• Show Up
• Ask Questions
• Serve, Don’t Sell
37. At the Bank Level:
• Startup Mindset
• New Product Design
– What’s the insight?
– Is the problem real?
– Validate
– MVP
• Disrupt Yourself
38. At the Individual Level:
• Owners Mentality
• Shift Your Perspective
– Get out of the building
– Look for problems
– Look for insights
• Propose Pilots