How to invest $1500

Invest it in yourself. Go to local Melbourne (Y Combinator) Statup site and book a flight to San Francisco.

Spend the next month working on your best idea startup idea.

Get a working prototype, or do those updates you’ve been talking about for the last 6 months on your current startup. Get it in shape.

Book meetings with VC’s, write up a schedule of where all the events are, startups weekends are and build a calendar of people to meet, things to do and actions to take while in Silicon Valley. Ask some locals who’ve been there and done it.

Get your spiel tight. Know how to pitch in 1 minute. With no slides, just your voice box.

Make sure your spiel covers what it is, who it’s for, what it disrupts, and the final revenue model. 

Go there, pitch and win (or lose). But you’ll win regardless. You’ll win with knowledge gains and contacts made. Get excited, have a story to tell, get 2012 off to a fast start.

Didn’t you know it’s an Aussie gold rush over there?


Revenue Compression

When chasing new business in startup land or any business for that matter, the time to revenue is more important than the amount or revenue.

It’s easy to believe that a big $500,000 project is better than a little $5000 project.  Maybe the big one takes a year. Maybe the small one takes a week or two.

I say the small projects rule! But before I choose, the questions I usually ask myself include:

  • How long will it take to get the revenue?
  • What is the potential for expensive mistakes?
  • What is the probability that the project will go over the time estimate?
  • Are we paid in time put in or final completion of said project?
  • What level of resources need to go into pitching & winning the project?
  • Will we get more smaller projects after successful completion of the first?

When we answer these we usually find that the $5000 project that takes a week is a far better option than the $500K project that takes a year. And the reason that they are better is that the revenue is compressed.


The art of pitching

I had a catch up with a well known pitch doctor yesterday. He reminded me of some of the most important factors, and regular mistakes we make while pitching.

Biggest mistake: Wasting time talking about ourselves. They already know enough about us, or they wouldn’t be in the room. The right amount of time to allocate talking about ourselves is close to zero.

Biggest Opportunity: Leave some questions unanswered. (counter intuitive I know) This creates the opportunity for real conversation. When we converse, we see how each party thinks. It also enables us to determine if we have the right chemistry to work together.


TED talks – What the world needs

This talk by Hans Rosling on population growth in the world is incredibly insightful. It goes for about 10 minutes and is worth the investment. His contention is that raising living standards in the poorest countries is the only way to reduce population growth.

Another thing I love is his presentation method and props. Very engaging and a method all entrepreneurs and marketers should consider. Enjoy!


How to pitch

There is more good than bad in these hilarious Ali G pitches to Venture Capitalists.

What to look for:

  • His tone of voice and pausing when speaking.
  • His reliance on talking. There is no powerpoint.
  • Taking them on a journey. Story telling.
  • Simple visuals. Having samples / props.
  • Supreme confidence

I’d seriously recommend this video on how to pitch versus most other examples we see on the web so long as we understand the context.


My new startup

I’m launching a new startup. For those who don’t know about it here are some of the key points:

  • The brand extension comes from an already successful enterprise
  • The partnership & legal agreements were entered into over a year ago
  • The idea is not an original one, rather a new execution of a proven formula
  • We didn’t pitch the idea or ask for permission, we just did it
  • It’s a brand extension
  • It’s a self funded project with no external capital. But we wont have ownership
  • We will give away the corporation, once it is cash flow positive
  • It’s a very long lead project
  • It wont be cash flow positive for more than 20 years
  • Estimated cost of the project is around $500K
  • We do expect to however, to yield emotional & community benefits very early after launch
  • It’s an industry we’ve never worked in before, but have a natural flair for it
  • Some of the product development will be outsourced to 3rd parties
  • Outsourcing will occur in 3 large segments of up to 6 years each
  • The most important product development will be done in house
  • There wont be any major advertising, brand awareness will be driven through family & friends
  • We already know it’s unique, but wont require any intellectual property protection
  • However, major security measures will be taken to protect the asset, especially in the incubation phase

My new startup is my baby due January 25th, and it’s the most exciting one I’ve ever been involved in. We’re involved in more startups than we think…

Startup Blog says: Let’s not define ourselves by what we own, but the cool stuff we do.


Startup School – 1 seat left

I’m very excited that Startup School Melbourne is this weekend. We still have a single seat left which is currently being warmed by this guy….

Picture 128

But we’d love to replace him with you. And if you need any more convincing then I’m pretty sure I’ll have done the job once you finish reading this blog entry.

Firstly – here’s a list of topics we’ll be covering in detail:

  • Idea Generating
  • Creativity in business. Creative thinking
  • Raising Capital
  • Art of Pitching
  • Legal tips, shortcuts and administration
  • Successful outsourcing (digital & production)
  • Building an international work force
  • Cash flow for startups & budgeting
  • Simplified project management
  • Personal & business branding
  • Selling like a guru
  • Generating PR and media
  • Building a Team

All of which is fully documented in a take home working manual so you’ll leave knowing exactly what to do and how to do it. Like I have.

We are also being joined by Yvonne Adele – Globally renowned Creativity and ideas guru!

You can’t learn this stuff in school, books or at University. And I should know as I teach Marketing at Melbourne University. You also get me as an on going mentor as a Startup School graduate with unlimited help in your start up. Which is incredible value give what most consultants (with less real experience) charge by the hour.

We are holding the event in the groovy boutique Lindrum Hotel. Where the space is great and the food and espresso is awesome. I tested it.

Picture 132

All of which is included in the price. You’ll be one of 10 people in an intimate learning environment. Not in a room full of people.

If that’s not enough , Startup School comes with a money back guarantee to blow your mind. I can say this because I know the 2 days will.

No, it’s not priceless – it’s priced at $998.

It will be the best investment in your entrepreneurship education you’ve ever made. it will make and save you thousands. This event is a one off, there is no next chance. If you want to chat about it – call me on the phone number in the right hand side bar of this blog.

Click here to book now.

(Seats still available for Sydney 21st & 22nd of November)

See you on the weekend, Steve.

Picture 116