Agile In Everything Web And Mobile – AgileStorm

On Linkedin Answers, Tatjana Torkel asked the question “What is the Biggest challenge to implement a Business Idea?”.

My answer:

Most importantly, make sure your business idea actually solves a problem. If it doesn’t solve problems, no one is going to care about it no matter how good you think your idea is.

2nd. Good ideas are a dime a dozen. Execution is everything. Find good partners. Build a good team. Stay focused.
At the end of the day, your success is all tied to the whole team, not your idea.

admin Entrepreneur Entrepreneur, Idea, Linkedin, Linkedin Answers, startup

Notes and thoughts from SVASE Digital Media Startups – Expectations and How to Achieve Them in the Current Market meeting on Feb 19th, 2009:

The majority of the discussion is on surviving the downturn(recession).

General thoughts:

• Be scrappy
• do more with less
• Save money, cut cost
• be data-driven
• the bar for VC series A is very high
• VCs will still bet on very viral products.  But you need to keep the burn rate down

Good points by Andrew Chen:

• Vcs tell you what’s hot, but they already invest tons of money into this space.
• Don’t build your business around corporate partnership – you can’t predict
• Execution always beats ideas.  Great team + mediocre ideas > mediocre team + great ideas
• No need to worry about cutting edges
• 6-9 months bootstrapping(then raise angel, then raise VC if you can or you need it)

It was a great discussion.

mo

admin Entrepreneur Entrepreneur, startup, survival, VC Funding

I went to the Stanford Entrepreneur Week event in Feb. One session is around “Pitching and Presenting Workshop: How to Make Your Story Compelling”.  The session was so crowded, but it’s really good as I practiced my pitching skills in a couple of the round in a group fashion.   Here are my learning and thoughts around a good pitch:

1. What is pitching? In Silicon Valley, it’s very common for entrepreneurs to pitch their ideas to VC for funding.  But pitching actually has a much broad meaning.  The goal of pitching is really on how you can get enough attraction from telling your story to generate new relationship or to get some one’s buy-in .  It is actually such an important and common task that we deal with every day on about everything.
2. Pitching is not just a business activity. It happens at work, at home, at movie theatre, among colleagues, between wife and husband, among friends, online and offline…  When you and your friend were discussing if they would all go to the movie you want, it’s your pitch. You want to persuade your husband or wife to buy a Graco car seat versus a Chicoo brand, it’s a pitch. You have an innovative idea on how to improve one project and you need to get your boss’ buy-in, it’s a pitch. You run into a person at a bar, who could be your potential client, and you want him/her have more interests in your offering, it’s a pitch…  You can practice your pitching skills whenever
3. The secret of a successful pitch is so simple, yet so few people know how to make it work. There are three basic elements of a good pitch, and the goal is to make these three elements clear and short! Below is a great presentation from the session:
   • what is the problem you are trying to solve
   • why it matters /why it is a problem
   • how you are going to solve the problem and why it’s different
   Stanford E Week 2009 Pitching&Presenting Workshop

   View more presentations from agilestorm.
4. A very practical way of practicing pitching that I found useful is: have a live elevator pitch for yourself (who you are & what you do). Practice this often (daily or weekly); write it down in a piece of paper; keep it in your pocket; revise it while you are in a car or waiting for lunch…

Have a great pitch next time!

admin Entrepreneur business, Elevator pitch, Entrepreneur, pitching, Stanford University, startup, VC Funding