StartupSchool - Joe Krause
Notes from joe krause preso:
Joe Kraus
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1) Test your business plan early
2) Like olympic trials. Every success leads to a tougher round. Keep enjoying success. Stakes raised every victory.
But important to celebrate and keep motivating
3) Differences between 1996 and 2006
- Easier to start a company, but same difficulty to start a business
- Funding is more available than ever
- more succesful exits than before
- Difference between need/take
- example of funding of 250,000 at 500K premoney
- 3.75M exit = 5x return for the investors
- example of funding at 5M at 10M premoney
- 5x return means a sale price = 75M
- Persist
- Hire people with talent.
