•
Yesterday I spoke with lean startup guru Eric Ries who is hosting the Startup Lessons Learned conference this Friday in San Francisco and at live simulcasts around the world. Ries says he considers entrepreneur turned educator turned public servant Steve Blank to be his mentor in the startup world, and Blank will be among Ries' lineup of speakers at this week's conference. Blank will give a talk he's titling, "Why Accountants Don't Run Startups," (or Customer Development 2.0 on the conference site ) which details the major differences between startups and large companies - a speech whose slides Blank posted to his blog via SlideShare late last week. Sponsor According to Blank, the line he draws between smaller startups and larger companies is based around the business model. Startups, he says, exist in the state where they are searching for a business model, and large companies are the result of finding and executing that business model. The reason he calls out accountants in the title of his talk is that as startups transition into larger companies, their less conventional methodologies become more traditional, and that's when accountants are needed. Early on, startups, in his opinion, should rely on such metrics as customer acquisition cost, viral coefficient, customer lifetime value, and monthly burn rate. These types of measurements become de-emphasized in larger companies which focus on balance sheets, cash flow statements and income statements, Blank says. Parallel ways in which startups transition into larger companies include customer development giving way to product management, and agile development becoming engineering. Early-stage companies, searching for a business model and for customer traction, will test hypotheses, discover their minimum feature sets, and pivot their focus if things don't work out, he says. Product management takes over once a viable model is found. One of the major stepping stones toward becoming a successful larger company, Blank says, is discovering the winning model or process and focusing on making it work over and over. Entrepreneurs begin their startups with a hatred for processes, but learn to love and implement processes as the company grows into a profitable business. Passionate focus transitions to focus on the company's mission, and ultimately to the execution of that mission. Blank wraps up his presentation by drawing the same lines between two types of education, business school and entrepreneurship school. Business school, he says, is far better suited for teaching students to run larger companies, while startups need founders with better entrepreneurial training. These ideas merely scratch the surface at what Blank is likely to dive into during his 45 minutes presentation Friday afternoon, so be sure to check out the event if you're in San Francisco, or find a live simulcast to attend in your area. Photo by Flickr user dux_carvajal . Discuss
See more here:
Steve Blank On How Startups Evolve Into Large Companies
Tags:
blank,
Business,
business-model,
cash flow statements,
customer,
customer lifetime value,
Don't Run,
early stage companies,
Eric Ries,
focus-if-things,
friday,
mentor,
model,
opinion,
presentation,
San Francisco,
startup,
startup-lessons,
Startups,
Steve Blank,
Tips
•
One of the iPad's biggest selling points is its potential as an e-Reader. The included iBooks application and the optional downloadable Amazon Kindle app, for example, provide hundreds of thousands of books to read, all in a relatively standard format: swipe horizontally to flip a page . iPad magazines, however, are trying to be far more creative. As we've mentioned before , the new magazine-style applications include everything from video to music within their pages, plus interactive features and clickable ads. But one problem with these innovative new 'zines is that they each do their own thing, in their own way. While this early adopter applauds the innovations we're seeing on the iPad platform, the mainstream user may find the variations confusing. Sponsor Mini-Movies and More First up: the heavily praised interactive VIV mag , a standout among online newstand Zinio's offerings. Early demos were decidedly exciting. This wasn't text - it was a multimedia experience ! The article featured in the demo video , a sex-ed advice guide, used actors against a green screen to produce a mini-movie illustrating the article's main points. Worried about AIDS? A women writhes against a bull's-eye as knives fly at her. Afraid of pregnancy? A women casts a worried glance at the man entering the room while pressing her hand to her stomach. In practice, however, this format is not as much fun as expected. The cover features clickable links, one that reads "Enter Issue" and another that says "Click to VIVIFY this cover!" Sorry - what? Now I know that they mean "launch interactive content" but mainstream Dicks and Janes may not. And the iPad, if anything, is targeting these so-called "everyday" users - the content consumers whose tech-savviness is a bit lacking, if I may say so kindly. But if you don't "vivify" the mag, you miss the movies - the main attraction. (There is a "Vivify" button at the bottom of each page, too, in case you didn't see it the first time around, but the text next to it says "Tap on the 'V' to read more." Read? How about "watch" or "see?") Another problem with VIV? I'm not sure if it was an app glitch or an iPad one, but the first movie got stuck "downloading" at 16%. Future, here I come? Next is TIME magazine . A gushing editor's letter talks about the publication's embracing the new slate-computer platform of the iPad. But how they've done so is already attracting some criticism . One of the problems is that TIME decided to go with vertical swipes for reading articles but horizontal swipes for navigating from one article to the next. This is not intuitive. On an eReader, whether book or magazine, we expect to read left to right. Vertical only works on the desktop-based web. Condé Nast's GQ magazine is another specialized iPad creation I examined. It doesn't start off well: upon launch, a progress bar displays how much of the magazine has download so far. Will the mainstream user know that you don't have to wait for the download to complete before you tap "read issue?" I'm so not sure. They've also chosen to go with vertical navigation for reading articles and horizontal navigation for scrolling between sections. Meanwhile, Car & Driver's "iPad Interactive Edition" returns you to plain ol' horizontal flipping. In fact, the magazine looks so much like a color PDF that we almost missed the interactive features. Obviously, two white squares overlaid on an image surely means "launch photo gallery," right? One app that gets it right is NPR ....although that's probably because it's not really trying to be a magazine, despite the company's claims that it uses a "magazine-style presentation." While it's true that you can flip from page to page, horizontally of course, the app is more than a mere digitized mag. There's an audio player, playlist creator, program and station finder and more. The news items with an audio track feature buttons for listening and adding to your playlist. Straight text-based items do not. Simple and easy, and overall, well-done. At the end of the day, these magazines are still more fun than their analog counterparts, but, clearly, they're all in very experimental stages right now. The navigation and interactive features differ from magazine app to magazine app, with some getting it better than others. Will they eventually standardize their presentation in an effort to simplify their features? Should they? It's too early to tell what format readers will prefer: mini-movies, some interactive bits sprinkled throughout or straight-laced e-reading. In the meantime, it will be interesting to try out all the variations. Discuss
The rest is here:
iPad Mags: Amazing or Confusing?
Tags:
aids,
amazon,
amazon kindle,
app,
apple,
article,
clickable ads,
desktop,
driver,
interactive,
iPad,
magazine,
mainstream user,
movies,
pdf,
presentation,
Read,
time,
variations,
VIV
•
I have a few different friends who are trying their hands at entrepreneurship; some have met with investors already, while others are closing in on their meeting date with anticipation and uncertainty. Based on hearing some of the things they were doing to prepare for their meeting, I thought it would be wise to roundup some of the best pitch advice I've come across not only for them but for the other first time entrepreneurs out there who may not know what typical VC pitches are like. Sponsor Pitches range in length from 5 quick minutes to a half hour or more, but what I have consistently seen while researching this topic is that no matter what length the pitch is, the key is to keep things simple and understandable while not patronizing the VC. But don't take my word for it, here is advice from six venture capitalists on various aspects of the all important pitch. David S. Rose - How to Pitch an Angel (or VC) If you're looking for "Pitching VCs 101," then look no further than Rose's 2008 TED University presentation on how to give presentations (embedded below). Rose, who has raised and invested millions through pitches, leads Rose Tech Ventures which after educating prospects on the art of the pitch saw investment rates climb. "Our investment rate more than DOUBLED, and we have funded over $35 million into more than 50 companies during the past six years," writes Rose. Highlights from Rose's speech include taking the VC on an emotional journey during your pitch by telling a story, and remember that they are there to evaluate you more than your idea. Chris Dixon - Pitch yourself, not your idea Investor and entrepreneur Chris Dixon reiterated Rose's point last November that VCs are more interested in the quality of the team than the quality of the idea. Ideas are subject to change, but how people work and interact are pretty solid and unmovable, so remember to be self-aware, he says. "What you should really be focused on when pitching your early stage startup is pitching yourself and your team," writes Dixon. "Of course a great way to show you can build stuff is to build a prototype of the product you are raising money for. This is why so many VCs tell entrepreneurs to 'come back when you have a demo.' They aren't wondering whether your product can be built - they are wondering whether you can build it." Mark Suster - Who Should Attend Your VC Pitch? Mark Suster, who has written extensively on pitching to VCs, brought up an interesting decision entrepreneurs need to make before their pitch: who is coming? Suster argues that for most situations just having the CEO is plenty, but that showing "the depth of your bench" can be beneficial too. However, there are several pitfalls he warns you to avoid when you start including more people in your pitch. "If you bring the full team make sure that you construct the entire storyline in advance so everybody knows how you plan to have the meeting flow," writes Suster. Who is going to cover which slides, who is going to field which questions, how are you going to answer difficult questions (which you should write down in advance and practice). Definitely don't "wing it" - have practice sessions to see how each member performs. Honestly I would say a good 50% of team presentations that I see seem like they really haven't practiced the flow very well amongst team members." Guy Kawasaki - The 10/20/30 Rule of PowerPoint Though originally posted in 2005, Kawasaki's rule of 10/20/30 in presentations still holds true. We've all seen those terrible presentations with way to many slides and way too much text that is way to small. The slideshow isn't supposed to do the talking for you, its merely a supplement to the wisdom that will come flowing from your voice. "I am evangelizing the 10/20/30 Rule of PowerPoint. It's quite simple: a PowerPoint presentation should have ten slides, last no more than twenty minutes, and contain no font smaller than thirty points. While I'm in the venture capital business, this rule is applicable for any presentation to reach agreement: for example, raising capital, making a sale, forming a partnership, etc." In another related post, Kawasaki points out this presentation as a great example of using visuals and text together with expert ability. It's not a great example of a VC pitch, but the presentation does a great job of conveying the message of the presenter. In other words, be more like Steve Jobs - that man knows how to pitch! Don Rainey - The Top 5 Rookie Mistakes in Pitching VCs Enough about what to do right, lets talk about what not to do. Among Rainey's list of the top mistakes made by novice pitches is presenting terms to the VCs, being late to the meeting, or asking VCs to sign a non-disclosure agreement (NDA). But the number one issue Rainey sees all too often is when the entrepreneurs come to pitch a VC firm without any prior knowledge of the firm and its investments. "One doesn't need be an expert on our history, track record or portfolio but a little knowledge can go a long way. Just a little awareness on our companies, professional background, and current boards, can drive efficiency for the person pitching an idea," writes Rainey. "If I've had three companies in Internet Advertising, for example, you can probably skip explaining simple concepts related to it. If one lacks that awareness, it wastes time AND undermines credibility. Plus, you look [like] someone who doesn't do what it takes to succeed because, in this instance, you haven't." Bijan Sabet - Startup Presentations Sometimes your aren't the only company pitching to VCs in a single day. In the case of this week's Y Combinator Demo Day, 26 startups presented back-to-back with one intermission. This means that by the 26th presentation, which could be you, the VCs in attendance are likely itching to get out of their seat and go meet the other entrepreneurs, so how will you grab their attention? Bijan Sabet says humor can be a great ice-breaker and get your audience engaged with your pitch. "A number of entrepreneurs used humor in their presentations in just the right amounts. Too little and the presentation can by dry. Too much and it's just, well, a joke. But the right amount is a wonderful way to engage your audience," writes Sabet. "It's obvious that Paul Graham, the founder of YC, plays a huge role in helping these (mostly) first time entrepreneurs find their way and put together their presentations. And it's also obvious that these founders practice their pitch over and over again so they can nail it in a room full of strangers." So what have we learned? Remember that you are just as much if not more important than the idea you are pitching, figure out before the pitch who is coming in the room and who is saying what, make sure your slides aren't poorly designed, avoid common rookie errors, and don't be afraid to spice things up with a dab of humor. Of course, there are a countless number of lessons to be learned before pitching VCs, but hopefully this has covered the basic and most important ones. If you need an example of a well designed pitch deck, Mint.com (which was eventually bought out for big bucks by Intuit) recently made an early deck of theirs available on slideshare. If you have other suggestions for first-time pitchers, leave your thoughts in the comments! Photo by Flickr user Dawn Ashley . Discuss
Go here to see the original:
The Art of the VC Pitch: A Roundup of Advice from 6 VCs
Tags:
angel,
audience,
Business,
flickr,
internet,
meeting,
person,
pitch,
presentation,
presentations,
Tips,
university
•
The US Department of Justice this week released slides from a presentation deck titled Obtaining and Using Evidence from Social Networking Sites . The document was released in response to a Freedom of Information Act request by the Electronic Frontier Foundation (EFF) . The DoJ presentation describes Facebook as much more co-operative with law enforcement requests for user information than Twitter and MySpace are. It also explains to officers what the advantages of going undercover on social networking sites are. The EFF posted IRS training documents for using various internet tools as well, including Google Street View, but those were much tamer than the Justice file. Sponsor Highlights from the deck include: On "getting info from Facebook" - options include photos, contact info, group contact info and IP logs. "HOWEVER, Facebook has other data available." The deck notes that Facebook is "often cooperative with emergency requests." MySpace and Twitter, on the other hand, are described differently. MySpace "requires a search warrant for private messages/bulletins less than 181 days old." Twitter "will not preserve data without legal process," has a "stated policy of producing data only in response to legal process" and has no Law Enforcement Guide (or spying manual, as some parties call such documents). Wouldn't you like your social network to say no before it says yes and require a warrant before handing over information to law enforcement? We reached out to Facebook this evening about the government claim that it was unusually co-operative but have not yet received a response. Funny: As social networks go, LinkedIn's "use for criminal communications appears limited" the document says. You don't say. LinkedIn can be useful in finding expert witnesses, however. "Why go undercover on Facebook, MySpace, etc?" the document asks. Three reasons are offered: 1. Communicate with suspects/targets. 2. Gain access to non-public info. 3. Map social relationships/networks. "If agents violate terms of service," the document asks, "is that 'otherwise illegal activity'?" No answer is offered in the text. "Many witnesses have social-networking pages," the presentation notes. Those pages can be a "valuable source of info on defense witnesses" and "potential pitfalls for government witnesses." Also funny: DoJ prosectors are urged to "use caution in 'friending' judges, defense counsel." We expect the Electronic Frontier Foundation to offer further analysis in coming days. You can download a PDF of the document yourself here . For further discussion of these documents, see blog posts clustered on Techmeme . Discuss
Read more here:
How US Government Spies Use Facebook
Tags:
advantages,
analysis,
data,
facebook,
freedom,
government,
info-on-defense,
pdf,
presentation,
social
•
Fascinated by the cloud and what it means for the future of Web apps, social gaming, open-source and the after life? Then you have plenty to keep you busy if you are heading to SXSW this year. This is part of a series of ReadWriteWeb guides to SXSW Interactive 2010. If this guide isn't your cup of tea, be sure to check back for more information soon! Sponsor Can You Run a 'Serverless' Business? This discussion looks like one of the better cloud panels at SXSW. It features panelists such as Amazon CTO Werner Vogels, who is there to discuss how cloud computing platforms have evolved so that it is possible to run a ''serverless'' business with confidence. Accessibility: What It Is For and Where It is Going How does the cloud affect accessibility? Will cloud-computing allow for a metaphorical curb cut out, allowing access to rich Internet applications? Ahhh - another example of how cloud computing is affecting all aspects of our word. From the SXSW guide: "Could a Software as a Service (SaaS) model deliver assistive technologies as a cloud-based service? The National Public Inclusive Infrastructure (NPII) is trying to do just that. As a facilitator for more rapid deployment of assistive technologies and a means to prototype new business models for emerging assistive technologies, AT could become part of an extensive infrastructure of readily available, electronic curb cuts that allow for seeamless access for a broader range of users than have been included to date." Drupal in the Cloud! Pantheon is an open-source cloud hosting initiative for the Drupal development community. Josh Koenig will examine "The Cloud" as a concept, look at the marketplace for cloud services, and dig into what it takes to build an application on a cloud-based platform. Our Interactive Culture Clouds Were not sure about this one. Looks like it's made for SXSW with its discussions about how business and love meet. We're uncertain how the cloud plays into this one but just about everything does these days, doesn't it? Next! You Developed the Content -- Now Build The Hardware The cloud is sending developers back to the labs to rethink and build new hardware that fits the wave of cloud-based applications in the market. Cool! From the SXSW Guide: "This presentation discusses how software/content developers can use open-source hardware to build devices that integrate tightly with their applications." Become Immortal: Understanding the Digital After Life Now talk about ghosts in the machine. Just think, when we die our identities will float in cloud networks all over the world. This may be the most philosophical discussion around cloud computing that we see at SXSW. It's time to explore the digital beyond! Finally, can one man be a cloud? The cloud is just about anything at SXSW so a man on a bike with a wifi hotspot in his backpack must qualify. Look for "The Jason Cloud," as you walk the streets of Austin. Considering AT&T's service, you may want to hire a bike taxi and follow Jason around for a few days. Discuss
Read the rest here:
SXSW 2010 for Cloud Lovers
Tags:
amazon,
Business,
cloud,
cloud computing,
digital,
guide,
internet,
presentation,
SXSW