«THE KEY STARTUP METRICS FROM I DEATION TO ACQUISITION » #TFWORKSHOP
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« THE KEY STARTUP METRICS FROM IDEATION TO
ACQUISITION »
#TFWORKSHOP
TheFamily
code: lamifasisi
WIFIWIFI
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#TFWORKSHOP
#TFWORKSHOP
STELLA GARBERVP OF MARKETING AT TRELLO
@STARTUPSTELLA
« THE KEY STARTUP METRICS FROM IDEATION TO ACQUISITION »
From Ideation To Acquisition
The Family: October 30th
Stella GarberVP of Marketing
Who Am I?• VP, Marketing @
• Co-Founder/CEO, (acquired 2015)
• Founding Team, TechStars ’10, (acquired 2012)
• Brief stint in VC at OCA Ventures and Foundation Capital
• MBA, University of Chicago Booth School of Business, BA, Northwestern University
Goals For Today
• Cover basic life cycle of a startup
• Share my personal experiences as an entrepreneur
• Plenty of time for questions and discussion
Questions to Start?
Ideation• Make a framework. Use it religiously.
• Mine:
• Am I going to be passionate about solving this problem in 5 years?
• Do I have the right set of skills and experiences to solve this problem?
• Will this be the type of business I want to run?
• Will I have access to the right resources?
Product Development
• Scale down your idea of an MVP
• Launch something that has metrics you can track
• Always be selling
• Constantly iterate
• Beware seeking validation for your ideas
Building a Team
• How to find the right cofounder
• Analyze in terms of long term and short term
• Consider: risk tolerance, working style, future goals
• Align compensation with incentives
• Should you consider a technical cofounder?
Questions Founders Ask
• When should I raise money?
• Should I raise money?
• Should I do an accelerator?
• How do I know when there is product/market fit?
• When will I know I’ve built something of value?
Funding The Business
• Seed Funding - money from angel investors, friends and family, etc to build something
• Series A - you’ve built something, now scale it and get traction
• Series B - you’ve found the formula, now add fuel to the fire
Angels vs VCs• Angels
• Informal
• Passionate
• Live vicariously
• Don’t do follow on
• VCs
• Sophisticated
• Value add driven
• See a ton of deal flow
• Understand the market
How To Find Investors• Almost all completely organic and network driven
• No secret formula
• Try to develop a robust network well before you seek to fundraise
• “Lines not dots” find graphic for this.
• If they say no, find out why. Be relentless.
Getting Traction
• Initial questions to answer:
• What are my unit economics?
• How can I iterate and move quickly?
• What is my business model?
Unit Economics
• Customer Acquisition Cost (CAC)
• Customer Lifetime Value (CLTV or just LTV)
• LTV>CAC
Acquisition
• Can come along when you don’t expect it
• Like most things, will come from networking
• Lean on investors
• Lean on entrepreneurship community
• Understand acquirer’s perspective
Questions?
• Contact me:
• @startupstella on Twitter
• **Also- Trello is great. You should use it.**
SEE YOU SOON!
LOVE.
THEFAMILY.CO___
___
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