Who owns the company?
You need to know who owns the equity at each stage in the company
- considering vesting
- no oral promises
- no napkin promises
Who owns the technology?
- the importance of confidentiality and assignment agreements
- exclusive license? the "poison pill"
- narrow the risk IP exposure
Who controls the company?
- the board
- the shareholders
- Section 2115 of the California Corporations Code
Who gets what if the company is liquidity?
- liquidation preferences
- participating preferred
- divends - cumalative and noncumalative
- acceleration of vesting?
- other payments due on charge of command?
Monday, November 24, 2008
Time Line Startup
explore idea --> raise money --> hire core team --> build product --> early release
- get term sheet
- negotiate lease;computers
- order lan,sw,phone, dsl
- setup bank accts, paychex, desks/chairs
- property insurance, sw control
- set up office
-
- get term sheet
- negotiate lease;computers
- order lan,sw,phone, dsl
- setup bank accts, paychex, desks/chairs
- property insurance, sw control
- set up office
-
Getting Press for Your Startup - Mike Arrington
Innovator's Delemia
Seth Goodin's Purple Cow
Mobile Platform --- facebook to worried about privacy (can you broadcast information)
Seth Goodin's Purple Cow
Mobile Platform --- facebook to worried about privacy (can you broadcast information)
Business Model
Go after the sustainable customers ---> not consumer but fortunate 5 million
You don't need to be mom & pop nor the other end of the spectrum the big "google"
Being able to run your own business without VC money, and calling your own shots, and own pace can be pretty amazing.
Look you can make a million dollars with:
2,000 * $40 = 1,000,000
If you can find a business that you love that has good cause.
How to Get Started?
1) Solve a simple probelm
2) Continue to Evolve
3) Devote the time (quality over quantity)
You don't need to be mom & pop nor the other end of the spectrum the big "google"
Being able to run your own business without VC money, and calling your own shots, and own pace can be pretty amazing.
Look you can make a million dollars with:
2,000 * $40 = 1,000,000
If you can find a business that you love that has good cause.
How to Get Started?
1) Solve a simple probelm
2) Continue to Evolve
3) Devote the time (quality over quantity)
Benevolence is needed in startups
Main Entry:
be·nev·o·lent Listen to the pronunciation of benevolent
Pronunciation:
\-lənt\
Function:
adjective
Etymology:
Middle English, from Latin benevolent-, benevolens, from bene + volent-, volens, present participle of velle to wish — more at will
Date:
15th century
1 a: marked by or disposed to doing good b: organized for the purpose of doing good 2: marked by or suggestive of goodwill
— be·nev·o·lent·ly adverb
— be·nev·o·lent·ness noun
be·nev·o·lent Listen to the pronunciation of benevolent
Pronunciation:
\-lənt\
Function:
adjective
Etymology:
Middle English, from Latin benevolent-, benevolens, from bene + volent-, volens, present participle of velle to wish — more at will
Date:
15th century
1 a: marked by or disposed to doing good b: organized for the purpose of doing good 2: marked by or suggestive of goodwill
— be·nev·o·lent·ly adverb
— be·nev·o·lent·ness noun
Tuesday, November 18, 2008
agile
xplanner
request for proposal
Requirements ---> don't call them
still do stories...and map to requirements
make matrix ...these are the requirements
helps with negotiation to find gaps
If you do this..then can do sm, med, large (need velocity)
in binder with relative sizes (make matrix could defend)
for example 570Points
Top ones were sprint with estimate (points)
Next sprint (points)
requirement -----> total points
Change requirement ----> estimate points (no changing sprint once in progress)
ts
nc
aos
new requirement (x pts) --- does customer want to pay for it, usually not so have to take out some other pts will then need to add to aos (this pts take into effect with change of in process pts)
Customer Price
if you ask fixed price then customer contract
* all risk on supplier
Supplier Contract
opposite time and material
* all risk on customer
- very low rates plus shared bonus on minimum knowing you are going to do more, we split the high price it was going to be. Must be agreement on bonus.
Need to make sure you include risk in price
enumerate the risks (my price is x because that is not need, complexity) Be explicit on why price is high
Given your high price but could give alternative staged price
for example, what is the three services you want us to work on (fixed price we prove scrum type of way we can deliver then you learn other stuff, so your priced will go down (in the rest risk lower because you know)).
need to know velocity of how many pts they team can do (know predictability)
if don't now get they team to start hacking together so you get a better prediction
Use 300% of points (if don't know your team)
* don't use agile and scrum words :)
want a system of tracability and tranperancy (does not use word of stories)
translate that ...
in the future we want to talk about these things this is the product owner
* look creative at process and lifecycle
we will give you X (the standard) AND
what ever language they use we use too for instance
freeze date X
but we are testing since day one.
1) we want business plan (product back log, estimates, and priorities)
trick is to have milestones fit in two week (iteration) and give more
"if you can't make the process fake it"
just fit your scrum to there process (give feedback and document one page or two sid that gives info they want)
need to be creative with simple metrics
Need Velocity
--------------------
1) M 65 p ----> should never be less than 65%
2) S 25 p
3) C 45 p
4) Y minimum 30 or 100 if really big and add to M
- want risk on business side so it can only get better
Total: 105 PTS
105 pts is what I want to deliver
what was my velocity 10 pts
that means I need 101/2 so 11
I would have to tell my product owner this is going to be 11 sprints
If product owner soes no say can only do 80 pts ...start negociating
Keep track of velocities
* not standard scrum
65 |
|
pts |________
time
| - make bugs timeline
shouldn't make distingquish between bug and feature, however bug guys want to know.
Bugs should be part of product (don't call it bug) except for legacy with integration
bugs bring things like fear and blame, don't promote this by calling it bug it is not added it is part of the size (it implies it - not time linked to it)
yes, we can do it but what do you want us not to do. you don't charge for every change if reasonable.
The product is initial target but when you finished it keep going
Burn up for product back log
Value
Risk
Cost
Operation
Learning
scrum alliance (tab of resources & tools)
scrum works (maybe a bit overwork)
xplanner
mingle (?)
teamfoundation
no microsoft project
request for proposal
Requirements ---> don't call them
still do stories...and map to requirements
make matrix ...these are the requirements
helps with negotiation to find gaps
If you do this..then can do sm, med, large (need velocity)
in binder with relative sizes (make matrix could defend)
for example 570Points
Top ones were sprint with estimate (points)
Next sprint (points)
requirement -----> total points
Change requirement ----> estimate points (no changing sprint once in progress)
ts
nc
aos
new requirement (x pts) --- does customer want to pay for it, usually not so have to take out some other pts will then need to add to aos (this pts take into effect with change of in process pts)
Customer Price
if you ask fixed price then customer contract
* all risk on supplier
Supplier Contract
opposite time and material
* all risk on customer
- very low rates plus shared bonus on minimum knowing you are going to do more, we split the high price it was going to be. Must be agreement on bonus.
Need to make sure you include risk in price
enumerate the risks (my price is x because that is not need, complexity) Be explicit on why price is high
Given your high price but could give alternative staged price
for example, what is the three services you want us to work on (fixed price we prove scrum type of way we can deliver then you learn other stuff, so your priced will go down (in the rest risk lower because you know)).
need to know velocity of how many pts they team can do (know predictability)
if don't now get they team to start hacking together so you get a better prediction
Use 300% of points (if don't know your team)
* don't use agile and scrum words :)
want a system of tracability and tranperancy (does not use word of stories)
translate that ...
in the future we want to talk about these things this is the product owner
* look creative at process and lifecycle
we will give you X (the standard) AND
what ever language they use we use too for instance
freeze date X
but we are testing since day one.
1) we want business plan (product back log, estimates, and priorities)
trick is to have milestones fit in two week (iteration) and give more
"if you can't make the process fake it"
just fit your scrum to there process (give feedback and document one page or two sid that gives info they want)
need to be creative with simple metrics
Need Velocity
--------------------
1) M 65 p ----> should never be less than 65%
2) S 25 p
3) C 45 p
4) Y minimum 30 or 100 if really big and add to M
- want risk on business side so it can only get better
Total: 105 PTS
105 pts is what I want to deliver
what was my velocity 10 pts
that means I need 101/2 so 11
I would have to tell my product owner this is going to be 11 sprints
If product owner soes no say can only do 80 pts ...start negociating
Keep track of velocities
* not standard scrum
65 |
|
pts |________
time
| - make bugs timeline
shouldn't make distingquish between bug and feature, however bug guys want to know.
Bugs should be part of product (don't call it bug) except for legacy with integration
bugs bring things like fear and blame, don't promote this by calling it bug it is not added it is part of the size (it implies it - not time linked to it)
yes, we can do it but what do you want us not to do. you don't charge for every change if reasonable.
The product is initial target but when you finished it keep going
Burn up for product back log
Value
Risk
Cost
Operation
Learning
scrum alliance (tab of resources & tools)
scrum works (maybe a bit overwork)
xplanner
mingle (?)
teamfoundation
no microsoft project
Monday, November 17, 2008
Saturday, September 13, 2008
Traits of people at the top
How to Think Like a CEO
by D.A. Benton describes the 22 vital traits to be the person at the top:
by D.A. Benton describes the 22 vital traits to be the person at the top: - Secure in self
- In control of attitude
- Tenacious
- Continuously Improving
- Honest and Ethical
- Thinking before talking
- Original
- Publicly modest
- Aware of style
- Gutsy / A little wild
- Humorous
- A tad theatrical
- Detail oriented
- Good at their job and willing to lead
- Fighters for their people
- Willing to admit mistakes, yet unapologetic
- Straightforward
- Nice
- Inquisitive
- Competitive
- Flexible
- Good Storytellers
Notice that the first item on the list is secure in self. Being confident is extremely important in anything that we do in life. One common characteristic of chiefs is that they have more self-confidence than most other people. So how do you build enough self-confidence to reach the top job? Through small victories.
Most chiefs have had many successes in previous positions of lesser responsibility. This does not mean that they never failed. Much to the contrary, they learned from their mistakes and carried those lessons with them so that that they wouldn't make the same mistake again. If you are going to make a mistake, it is better to make it early when the consequences of your mistakes do not have as large an impact as when you are the CEO. Jack Welch, the famous ex-CEO at General Electric was very aware of the importance of building self-confidence is his subordinates. He has written and lectured about giving high potential employees an opportunity to get additional responsibility and build enough confidence to take on the next job in the corporate hierarchy. Many of the CEOs of the largest companies in America came from GE, where they had a chance to hone their skills and build their self-confidence.
PR: 
LD: 
I: 
C: 
SD: 
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