Graham Brown with Angel Investors Stephen Liew and Rina Neoh
Magnus Grimeland, Founder Antler
Graham Brown with Vinnie Lauria, Partner Golden Gate Ventures
20 Years an Entrepreneur
Forfeited 240 regular pay cheques
Every day a hustle.
The highs are higher, the lows lower
Never easy, often vulnerable
Sometimes brutal, sometimes glorious
Every day deciding, thinking on your feet
Trying to improve
This is what we signed up for.
– start with the problem. This and nothing else should be slide 1
– less is more. 10 slides is plenty for an early stage startup
– study success: you can download and study the early pitch decks of companies like Airbnb
– learn how to tell a story. Your pitch deck should support the narrative you want to tell
– keep practising and refining your pitch
In a half-empty run-down shopping mall on the east side of Singapore, Jiawen Ngeow shares her memories of a 7 startup year journey. It’s a journey with plenty of struggles leading to 2 successful exits totalling $25m.
When we met to record the scene for our new podcast, JW hadn’t been to her old office for 5 years. It was a moment filled with mixed memories.
1) Start your conversations with investors long before you need them. Start an investor newsletter, share updates with potential investors and advisors.
2) Startups should do due diligence on investors too, there are “good” and “bad” (unsophisticated) investors out there.
3) Investors & startups should be one team working together, not adversaries sitting opposite sides of the table.
4) Don’t approach an investor like applying for bank loan. They are not ATMs distributing cash. They want to be part of something.
5) Get your numbers together before you pitch – burn rate, runway, cash in the bank, funding requirement. Good financial discipline goes a long way.
👍 Insights from the startup panel session today. Thank you to the panelists for your insights, the startups for your questions + the XERO team for supporting the startup community here in Singapore with these events.
Storytelling for Startups. One of the most important skills for a startup founder or business leader is the ability to turn a pitch deck, presentation or a product into a STORY.
Stories are how we relate to each other.
And getting your story right will significantly impact your ability to
a) raise money
b) hire good people and
c) win clients.
A simple HACK to improve your STORY is to give it structure:
1) BEGINNING – what is the problem and why are you the hero solving it?
2) MIDDLE – what are you building and what is the journey you are on?
3) END – what will the future look like if we work together on this?
Here are 3 lessons from the story of Junxian “Jonah” Lee, serial entrepreneur, captured in our Podcast:
1) Passion is for amateurs. Every startup founder thinks they can succeed at food retail because they are passionate about eating. But 12 month survival rate is LOW. Belief in passion and ‘never give up’ is why entrepreneurs FAIL. Good systems are what grows businesses.
2) Your life is a STORY. What story are you telling? If you want a better life, tell a better story.
3) If you want to learn business, SELL waffles for a dollar. An MBA is easier, but waffles will teach you more.