10 Lessons from a First Time Entrepreneur.

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10 lessons from a first time
entrepreneur.
@scotchisholm

Hi, my name is Scot…
Co-Founder & CEO
@scotchisholm

…and I’m a 1st time entrepreneur.

This deck highlights some key
learnings from our own eight-year
journey (and counting) as first-time
entrepreneurs.
In no ...

Started a company before 15.
Knows how to code.
Numerous companies under their belt.
Dropped out of college & moved to
Bay...

Books / Blogs / Follow
“Entrepreneurship: 90% proving others
wrong… 10% everything else.”
- Aaron Levie

The TechCrunch version of an
entrepreneurial journey.

The real life version…
?

Here’s our journey (so far)
in 5 slides…

2005. We hosted a pub-crawl to raise money for the American
Cancer Society. We dedicated it to my mom, who had battled bre...

2006 - 2009. And so we started hosting dozens of fundraising
events, anything from concerts to 5k races, and raised tens o...

2010 - 2013. We rebuilt our app from the ground up, and
launched a more scalable version in January 2011 to any nonprofit
...

The CLASSY Awards. We started the CLASSY Awards in
2009 to shine a spotlight on local San Diego based nonprofits that were...

5,000+ Social Impact Organizations.
Today. StayClassy is the world’s largest funding platform
exclusively for social impac...

And now, some of what we’ve
learned along the way …

Embrace the grind.
(aka, this shit ain’t easy)
#1

“Not a single person
whose name is worth
remembering lived a
life of ease.”
- Common

• There’s no such thing as an overnight success.
• Entrepreneurship is not a side-hobby.
• Find a passion, keep pursuing a...

Accelerate your learning.
#2

Accelerate your learning.
#2
“The only way
to win is to
learn faster
than anyone
else.”
- Eric Ries

• Know what you don’t know (which is a lot).
• Validate assumptions with least amount of work.
• “Get out of the building”...

Create a data-driven culture.
#3

Quote .
“In god we trust,
all others must
bring data”
- W. Edwards Deming

• Spend 90% of your time finding people who appreciate
data, 10% on finding the right tools.
• Don’t over-measure! Measuri...

Credit (book): Lean Analytics

Raise traction before money.
#4

“Be so good they can’t
ignore you.”
- Steve Martin

• As 1st-time entrepreneur, traction is all you have for
credibility.
• Lack of focus (or perception of) is your worst ene...

Charge as soon as possible.
#5

Jason Fried Quote.
“When entrepreneurs ask me how to get
customers to tell them what they really think, I
respond with two...

• It’s scary to charge, but its the best way to get honest
customer feedback (and make money).
• Keep pricing simple & ali...

Don’t be afraid to change your model.
#6

Create a founding narrative.
#7
“A startup is a temporary
organization designed
to search for a
repeatable and scalable
bu...

• Search for the product and business model that best
matches your customer’s needs and behaviors (round peg
in a round ho...

Your team is a system too.
#7

“Vision without
execution is
hallucination”
- Thomas Edison

• “At the root of every technical problem is a human
problem.”
• How do you get the optimal output from each person on
you...

Find your blue ocean.
#8

“The only way to beat
the competition is to
stop trying to beat
the competition”

• Observe your competition, but don’t follow.
• Find a game that your competitors can’t play.
• In blue oceans, rules of t...

Lay out a clear vision.
#9

“TOMS is no longer a shoe company… we’re a
one-for-one company”
- Blake Mycoskie, TOMS

• It’s never too early to lay out a vision.
• Clear and compelling description of the future.
• Unifying focal point and c...

Stand for something.
#10

“People don’t buy what
you do, they buy why
you do it”
- Simon Sinek

• Core purpose is your company’s backbone (and can be
your backbone too).
• Why do you exist? What values do you hold dear...

Stand for something.
#10
Business
Purpose
Social
Purpose
the sweet
spot

“ Our lives begin to end the day
we become silent about things
that matter ”
- MLK

Helpful Resources.
p.s. there’s lots of great stuff out there, these just
happen to be some of my personal favorites.

Leadership, Core Ideology, Culture, Socent
James Collins: Building Your Company’s Vision [Article]
Dharmesh Shah: Culture ...

Startups, Metrics, Product, Growth
KISSMetrics Blog: https://blog.kissmetrics.com
Andrew Chen Blog: http://andrewchen.co
D...

Eric Ries Blog: http://www.startuplessonslearned.com/
David Skok Blog: http://www.forentrepreneurs.com/
Ryan Allis: How to...

Marketing, Sales, Fundraising
Hubspot Blog: http://blog.hubspot.com/
Sean Ellis Blog: http://www.startup-marketing.com
Nei...

Other Books

@scotchisholm
Thank you!
http://www.stayclassy.org

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