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CEO/Founder 101 2 nd Half Steve Mushero GLOBALTECH

CEO/Founder 101 2 nd Half Steve Mushero GLOBALTECH. What to do when you get funded. What you need to think about ! What you need to worry about !. December 12, 2000. Thanks. Startup University www.startupuniversity.com Get Out of The Garage. Agenda. Networking Talk Getting started

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CEO/Founder 101 2 nd Half Steve Mushero GLOBALTECH

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  1. CEO/Founder 1012nd HalfSteve MusheroGLOBALTECH What to do when you get funded. What you need to think about ! What you need to worry about ! December 12, 2000

  2. Thanks • Startup University www.startupuniversity.com Get Out of The Garage GLOBALTECH – www.globaltech.com

  3. Agenda • Networking • Talk • Getting started • More Networking, Beer & Food GLOBALTECH – www.globaltech.com

  4. Overview • Things to think about • Wide-ranging • Fast, high level • Ask questions • Starting up • Funding • Growing / Running • Operations GLOBALTECH – www.globaltech.com

  5. Me ? • Steve Mushero • Entrepreneur • BSEE, MBA (US/Japan) • Communications, networking, databases, large scale systems, integration & manufacturing • CTO, Biz-Dev, Sales • Patents • Push, Finance/Insurance, Commerce GLOBALTECH – www.globaltech.com

  6. You ? • Founders • Funded • Not- funded • Too crazy to be funded • Post founders • Executives • Service Providers • Consultants • Recruiters • Randoms GLOBALTECH – www.globaltech.com

  7. We have money • Now what • Life changes • OPM • Board of directors • New management • Growth • Challenges • Strap in ! • Balance • Think long term • Tomorrow, next week, month GLOBALTECH – www.globaltech.com

  8. Executives • CEO • COO ? • CFO • Later, use clerk/controller • CTO • Choose an ‘executive’ person • VP Engineering • Consider carefully vs. CTO • Engineering Manager • VP Marketing • VP Biz-Dev ? • VP Sales ? GLOBALTECH – www.globaltech.com

  9. Running the Company • Executives as 1 voice/mind • No divisiveness • Counseling / Team building • Communication, continuous • Honest • Educate employees of realities • Adjust structure as needed • Fire as needed • Meet weekly • Execs & Company • Build consensus • Delegate • If you can’t, hire better people GLOBALTECH – www.globaltech.com

  10. CEO Role • Raise Money • Lead • Delegate • No, really ! • Letting go is tough • Communicate to investors monthly • Maintain board relationships • Communication • No hiding or no You ! GLOBALTECH – www.globaltech.com

  11. New Executives • Many 1st time executives • Consider training/counseling • Massive stress • Consider how to handle • Productivity is key • Teach delegation • Teach time management • Management by email • Warn families • Long term balance • Watch politics • Incompetence = Bye, bye • Use board / advisors to help guide you GLOBALTECH – www.globaltech.com

  12. Managing Growth • Hire experience • Cultivate managers • Communicate often • Explain goals • Consider counseling • Indoctrinate new employees • Several per week/month ? GLOBALTECH – www.globaltech.com

  13. Product Management • Don’t get ahead of yourself • Demos drive planning • Prototypes • Product Manager • Very early hire • Real documentation • Do not skimp • Requirements docs • In sync with specifications • Don’t get ahead of yourself • Insure features match the benefits you are marketing • And customers’ needs GLOBALTECH – www.globaltech.com

  14. Engineering • Founder’s orientation & skills • CTO • Get one, a real one • Outsource ? • Std. technology vs. proprietary • Speed vs. Knowledge • Engineering people • Product Managers (Marketing) • Program Managers • Manager Managers • Maintain buy-in to company goals/direction • Good practices, experience GLOBALTECH – www.globaltech.com

  15. QA • Test your stuff • Outsource ? • Load test your stuff • Scalability • Test data interfaces • Ugly • 80,000 pages of errors • Test financial stuff • Bad to not receive revenue $$ GLOBALTECH – www.globaltech.com

  16. Marketing • Who are the customers ? • Talk to them ! • What would they say about us if we interviewed them and how do we get them to say that ? • Value propositions • Benefits, problem being solved • Positioning • Find out what others are doing GLOBALTECH – www.globaltech.com

  17. Early Customers • Pick carefully • Commitments help raise $$ • Beta where possible • Have formal coordinator • Love thy customer • Don’t let early/large customer have too much weight GLOBALTECH – www.globaltech.com

  18. Website • Privacy Statement matters ! • Can always tighten, rarely loosen • Copyright notices • Don’t often steal content • Think about fraud & you GLOBALTECH – www.globaltech.com

  19. Sales • Inside vs. Outside • Sales vs. Biz-dev • Semi-different skills • Biz-dev not scalable • Consider pricing & revenue • Need $25,000+ for sales • Sales people • Sales manager • Expenses • Remote offices - $ GLOBALTECH – www.globaltech.com

  20. Business Development • No, not Yahoo, AOL, or Microsoft • Investors’ Portfolio firms • Value proposition • Help their business • $$ flow – which way, why ? • Get experience people • Lots of wannabe’s GLOBALTECH – www.globaltech.com

  21. Finances • Cash management • Weekly cash flow • Capture payroll/taxes correctly • Leases, personal guarantees • Conserve cash • Watch travel costs • Sales/Biz-dev especially • Be auditable • Proper controls • Photocopy checks • Use Quickbooks from day 1 GLOBALTECH – www.globaltech.com

  22. HR & Hiring • Outsource - askHR • Execustaf.com – PEOs / CoEmployers • Watch legal issues • Interviewing • Training (as you grow) • Internet usage policy • Employee Handbook • Free/cheap job services • Recruiters – retainer, contingency • Use admins to manage • Stock Options – • PLAN • Pricing GLOBALTECH – www.globaltech.com

  23. Legal • No need for Staff Lawyer/GC • Be proactive, get stuff early • Law firms busy • Run all agreements, etc. by lawyers • Watch NDAs, • Only let officers sign • Minimize mutual NDAs • Content and development indemnifications • No international • India development • Watch laws • E-Commerce, returns, $$ handling • Privacy Statement matters ! GLOBALTECH – www.globaltech.com

  24. Documentation • Technical Writers • Manuals • Website • Technical docs GLOBALTECH – www.globaltech.com

  25. Support Groups • Customer Support • Install, training • Technical Support • Call center ? • QA Overlap GLOBALTECH – www.globaltech.com

  26. Operations • IT • Outsource parts • Real-estate • Sublease • Use services/brokers • Plan, plenty of time • Consider built-out issues/time • Stay together in one place • Travel • Cheap, discounts GLOBALTECH – www.globaltech.com

  27. Insurance • Workers Comp (WC) • General Liability (GL) • Include business interruption • Loss of equipment • Get earthquake protection • Directors & Officers • Key Man (and Woman) • Life insurance • Physicals GLOBALTECH – www.globaltech.com

  28. Final Questions ? GLOBALTECH – www.globaltech.com

  29. Thanks ! • www.globaltech.com • 888-564-8004 This presentation: www.globaltech.com/events Steve Mushero Mushero@globaltech.com GLOBALTECH – www.globaltech.com

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