startup istanbul 2016 / utku azman - managing director citus data
TRANSCRIPT
![Page 1: Startup Istanbul 2016 / Utku Azman - Managing Director Citus Data](https://reader031.vdocuments.pub/reader031/viewer/2022030307/58eb65e31a28abef178b457f/html5/thumbnails/1.jpg)
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MYTH 1: RAISE $$ FAST TO BUILD MOMENTUM
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FOR AGAINST
MYTH 1: RAISE $$ FAST TO BUILD MOMENTUM
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FOR AGAINST• Pay big salaries to attract good
people
• No immediate sales/profit pressure
• Early start to marketing, build brand
• Unnecessary dilution
• Spending too much time & focus on money vs. other priorities
• Rushing into “not-so-smart” money
MYTH 1: RAISE $$ FAST TO BUILD MOMENTUM
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My verdict:
MYTH 1: RAISE $$ FAST TO BUILD MOMENTUM
![Page 8: Startup Istanbul 2016 / Utku Azman - Managing Director Citus Data](https://reader031.vdocuments.pub/reader031/viewer/2022030307/58eb65e31a28abef178b457f/html5/thumbnails/8.jpg)
My verdict:
MYTH 1: RAISE $$ FAST TO BUILD MOMENTUM
BUSTED!
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MYTH 2: ATTEND LOTS OF EVENTS, WORKSHOPS FOR XP
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FOR AGAINST
MYTH 2: ATTEND LOTS OF EVENTS, WORKSHOPS FOR XP
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FOR AGAINST• Hear lots of feedback, learn
• Network
• Practice pitching
• Takes a lot of time
• Too much advice, many in different directions
MYTH 2: ATTEND LOTS OF EVENTS, WORKSHOPS FOR XP
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My verdict:
MYTH 2: ATTEND LOTS OF EVENTS, WORKSHOPS FOR XP
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My verdict:
MYTH 2: ATTEND LOTS OF EVENTS, WORKSHOPS FOR XP
BUSTED!
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MYTH 3: HAVE SPECIFIC GOALS AND PLANS (VS. REACTIVE)
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FOR AGAINST
MYTH 3: HAVE SPECIFIC GOALS AND PLANS (VS. REACTIVE)
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FOR AGAINST• Helps focus resources
• Aligns people on same goals
• Let’s you measure success, failure
• Rely on assumptions that may not be true
• Give up other opportunities, paths
• Takes time, adds overhead
MYTH 3: HAVE SPECIFIC GOALS AND PLANS (VS. REACTIVE)
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My verdict:
MYTH 3: HAVE SPECIFIC GOALS AND PLANS (VS. REACTIVE)
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My verdict:
MYTH 3: HAVE SPECIFIC GOALS AND PLANS (VS. REACTIVE)
CONFIRMED
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MYTH 4: BUILD STRATEGIC PARTNERSHIPS W/ ENTERPRISES
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FOR AGAINST
MYTH 4: BUILD STRATEGIC PARTNERSHIPS W/ ENTERPRISES
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FOR AGAINST• Gets you a good reference
• You get resources, maybe money
• You may land a big deal at the end
• Enterprises are slow
• Engagements will tie up valuable resources
• Difficult to align goals
MYTH 4: BUILD STRATEGIC PARTNERSHIPS W/ ENTERPRISES
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My verdict:
MYTH 4: BUILD STRATEGIC PARTNERSHIPS W/ ENTERPRISES
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My verdict:
MYTH 4: BUILD STRATEGIC PARTNERSHIPS W/ ENTERPRISES
BUSTED!
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MYTH 5: HIRE SLOWLY, FIRE FAST
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FOR AGAINST
MYTH 5: HIRE SLOWLY, FIRE FAST
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FOR AGAINST• Hire really good people
• Minimize bad influence on team
• Don’t have time to wait for prince charming
• Firing is difficult...
• May affect team morale
MYTH 5: HIRE SLOWLY, FIRE FAST
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My verdict:
MYTH 5: HIRE SLOWLY, FIRE FAST
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My verdict:
MYTH 5: HIRE SLOWLY, FIRE FAST
CONFIRMED
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MYTH 6: FIND AN IDEA EVERYONE LIKES
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FOR AGAINST
MYTH 6: FIND AN IDEA EVERYONE LIKES
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FOR AGAINST• Feel good about yourself
• Win competitions
• You’ll probably get angel funding
• It’s probably not that revolutionary
MYTH 6: FIND AN IDEA EVERYONE LIKES
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My verdict:
MYTH 6: FIND AN IDEA EVERYONE LIKES
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My verdict:
MYTH 6: FIND AN IDEA EVERYONE LIKES
BUSTED!
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BONUS MYTH 7: LISTEN TO EXPERT, MENTOR ADVICE