From Designer To Founder

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The document provides advice and lessons learned from becoming an entrepreneur and starting a company. It discusses common misconceptions about entrepreneurship, such as thinking you can do it alone or that venture capital is evil. It also offers tips for starting a company, such as choosing an idea you are passionate about, understanding how to fund a startup through various options like friends/family or venture capital, picking a great team, and launching early with a minimal product to begin learning. The overall message is that starting a company is a learning process and not to believe common myths about what it takes to be a successful entrepreneur.

Why become an entrepreneur? Times when I am truly happy Times when I am wearing pants Gap analysis: this is a gap here

Idea Entrepreneur (not fast enough) In reality, it’s more like this

Some ideas sneak up on you Early practitioner of IA Author of third book on it Partner of Carbon IQ Founded Boxes and Arrows Founded IAI Founded MIG Founded Cucina Media I realize I’ve been edging toward this my entire professional life…

So what’s it like? Not what you’d expect… Five lies I ran into, and five (personal) truths…

Lie #1 Finally a chance to do things right Truth: Finally a chance to learn why things are done wrong

Lie #2 I don’t know anything about business, I’m a designer Truth: Nobody knows everything On the other hand, now is a good time to learn excel

Lie #3: I can’t do it alone Truth: Then don’t do it at all

Lie #4: VC are evil Truth: VC have a job to do

Lie #5: I can do it like 37 signals. Truth: Don’t believe the hype. Anyone’s hype

So how do I do start a company? Let me tell you what I’ve got so far…

Choose your idea From Guy Kawasaki, Art of the Start Ability to provide unique product or service Value of customer compete on price stupid bankrupt The holy grail We designers are good at this!

Still… That doesn’t matter as much as this does. Passion trumps rational every time.

Signing up to be an entrepreneur is like signing up to be bipolar James Hong, Hot or Not founder

Choose how to fund a startup Friends and family Consulting Angel Investors Seed Funding Firms Venture Capital Don’t forget the “ lifestyle business” From: How to fund a Start-up http://www.paulgraham.com/startupfunding.html

Math 10X return means taking a 2M investment = exit of 20M + a little something for the wife and kids… How big is your market?

You will need for fundraising An executive summary Powerpoint of your story A Forecast of when you break even Good to have A mockup Better: A demo Still better: A working product generating revenue

Pick great people Take “the shopping mall test”

You suck Designers are jerks. Including me.

Christina Wodtke, Founder & CEO | christina@cucinamedia.com

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