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.gitignore

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 *.mp4
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42min-StartupsTechTalk-AGENDA-FULL.txt

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-AGENDA:  Most important things to look for in a start up
-
-TAM: Make sure the market is sufficiently large than once they win they can get rewarded
-- Medium sized markets that should be winner take all can work
-- TAM needs to be realistic of direct market size
-
-Product market fit: Being in a good market with a product than can satisfy that market
-- Solves a problem
-- Builds a solution a customer wants to buy
-- Either saves the customer something (time/money/pain) or gives them something (revenue/enjoyment)
-
-Unit economics: Profit for delivering all-in cost must be attractive (% or $ amount)
-- Revenue minus direct costs
-- Raw input costs (materials, variable labour), direct cost of delivering and servicing the sale
-- Attractive as a % of sales so it can contribute to fixed overhead
-- Look for high incremental contribution margin
-
-LTV CAC: Life-time value (revenue contribution) vs cost to acquire customer must be healthy
-- LTV = Purchase value x number of purchases x customer lifespan
-- CAC = All-in costs of sales + marketing over number of new customer additions
-- Strong reputation leads to referrals leads to lower CAC. Want customers evangelizing product/service
-- Rule of thumb higher than 3
-
-Churn: Fits into LTV, low churn leads to higher LTV and helps keep future CAC down
-- Selling to replenish revenue every year is hard
-- Can run through entire customer base over time
-- Low churn builds strong net dollar retention
-
-Business: Must have sufficient barriers to entry to ward off copy-cats once established
-- High switching costs (lock-in)
-- Addictive
-- Steep learning curve once adopted (form of switching cost)
-- Two sided liquidity
-- Patents, IP, Branding
-- No hyper-scaler who can roll over you quickly
-- Scale could be a barrier to entry but works against most start-ups, not for them
-- Once developed, answer question: Could a well funded competitor starting up today easily duplicate this business or is it cheaper to buy the start up?
-
-Founders: Must be religious about their product. Believe they will change the world against all odds.
-- Just money in the bank is not enough to build a successful company. Just good tech not enough
-to build a successful company
-- Founders must be motivated to build something, not (all) about money. They would be doing
-this for free because they believe in it. Not looking for quick score
-- Founders must be persuasive. They will be asking others to sacrifice to make their dream come
-to life. They will need to convince investors this company can work and deserves funding.
-- Must understand who the customer is and what problem they are helping to solve.
-- Founders aren’t expected to know all the preceding points in this document but have an understanding of most of this, and be able to offer a vision.