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Keys to Thin Capital IT Startups

Keys to Thin Capital IT Startups. From the experiences of Brett Caird. My Background. 5TH Cell Media – Video games Scribblenauts Drawn to Life Run Roo Run Hybrid Brisbane Internet Technology – ISP MBA, BGSB, QUT. And now in chronological order.

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Keys to Thin Capital IT Startups

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  1. Keys to Thin Capital IT Startups From the experiences of Brett Caird

  2. My Background • 5TH Cell Media – Video games • Scribblenauts • Drawn to Life • Run Roo Run • Hybrid • Brisbane Internet Technology – ISP • MBA, BGSB, QUT

  3. And now in chronological order • 1992-93 Bachelor of Info. Tech. (incomplete) • 1993-95 Office job • 1995-2000 Brisbane Internet Technology • 2001-02 Hiatus • 2002-03 MBA • 2003-13 5TH Cell Media

  4. Management team balance • Diversity of skills • Commercial • People • Marketing/product • Organizing resources • How to actually make the product

  5. Management team balance • Diversity of attitudes • Big picture • Detail oriented • Organizational culture • Customer focused • Analyst • Creative • BUT!... Not so diverse that you can’t achieve consensus

  6. Opportunity • Kind of obvious • … that you need an opportunity • But the best opportunities are not obvious • If everyone is jumping on the bandwagon, its already too late

  7. Timing • A good product at the wrong time will fail, whether too early or too late • Need to plan ahead and take some risks • Good luck with this one…

  8. Cash Flow • Make cool stuff • Find people to buy it • … • Profit! • Your projections will always be wrong • Be prepared for delays

  9. Commercial reality vs Passion • If you go into business not caring about money, you will fail • If you go into business caring ONLY about money, you will probably fail • To excel you need both passion and commercial sense

  10. Robustness • Don’t risk what you can’t afford to lose • Different attitudes in Australia vs US • Most small businesses fail immediately after their highest revenue period

  11. Find good professional advisors • You are not an attorney or CPA • You know enough to ask the right questions • Good professionals: • Are well versed in their field (obviously) • Will talk to your level • Know their limitations

  12. Exit strategy • Greatest economic gain is usually on exit • Even if you want to do it forever, some day it will end • Industry change • Better opportunity • Die of old age • Understand your options • Assume it will happen someday

  13. Q&A

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