The Next Wave of Bold Ideas in Europe Tom Hulme (Google Ventures) Derek Andersen (Startup Grind)
1. About this mind map
1.1. Created by Liam Hughes
1.1.1. Founder: Biggerplate.com
1.1.2. Conference attendee
1.1.3. @BiggerplateLiam
1.2. Shared on Biggerplate.com
1.2.1. Software neutral
1.2.1.1. Don't make/sell software
1.2.1.2. Impartial guidance/advice
1.2.2. Mind Map Library (free)
1.2.3. Mind Map Community (free)
1.2.4. Business Club (nearly free)
1.2.4.1. Webinars & content for business
1.2.4.2. Use code: SGEUROPE17
1.2.4.2.1. Save 50% on first year
1.2.4.2.2. (Normal price: $29/year)
1.3. Created using MindMeister
1.3.1. Collaborative online mapping
1.3.2. Free version available
1.3.3. Vienna & San Francisco
1.3.4. Nice people!
2. How to engage investors?
2.1. Why so hard?
2.1.1. Investors are busy
2.1.1.1. Complex processes
2.1.2. No incentive for them to say no
2.2. Tips
2.2.1. See who they co-invest with
2.2.2. Don't over-value a 'maybe'
2.2.2.1. "Don't want to marry you today but..."
2.2.2.2. They want options open
2.2.2.3. Not a good signal
2.2.2.4. Move on
2.2.3. Do your due diligence
2.2.3.1. On the investment company
2.2.3.2. On the individual partners
2.2.3.3. Who else did they invest in?
2.3. Who to talk to?
2.3.1. Not their 3 given references...!
2.3.2. Find the failed deals
3. What can investors do for you?
3.1. 3 types
3.1.1. Dumb and know they're dumb
3.1.2. Dumb and think they're smart
3.1.3. Smart and know they're smart
3.1.4. Aim for number 3!
3.2. How they help?
3.2.1. Accessibility
3.2.2. Social contract
3.2.2.1. How to work together?
3.2.2.2. What does 'good' look like?
4. What causes investor friction?
4.1. Founder getting fired
4.1.1. Very rare
4.1.2. But sometimes paths diverge
4.2. Sources of problems
4.2.1. Dishonesty
4.2.2. Unethical
5. How do deals get done?
5.1. Deal flow
5.1.1. Normally through trusted network
5.1.2. Referral network drives
5.2. Picking deals
5.3. Supporting the deals
6. Customer empathy
6.1. Leading indicator of success
6.2. Love and listen
6.2.1. Love the customer
6.2.2. Listen to them
6.3. Spend time with customers
6.3.1. What is the need?
6.3.1.1. Unmet, or poorly met need
6.3.1.2. Who does this apply to?
6.3.2. What value do you bring?
6.3.3. In their natural environment
7. Paying customers
7.1. People value what they pay for
7.2. People pay for what they value
7.3. Revenue is an indicator
8. GV in Europe
8.1. Launched 3 years ago
8.2. Successes
8.2.1. 12 investments in Europe
8.2.2. 1 investment in Israel
9. IDEO experience
9.1. About IDEO
9.1.1. Innovation consultancy
9.1.2. Product design
9.1.3. Learned a huge amount
9.2. Key lessons
9.2.1. Frame the right questions
9.2.1.1. Don't jump to action
9.2.1.2. Pause and question
9.2.2. Power of diverse teams
9.2.2.1. Difficult problems need diverse perspectives
9.2.3. Prototype only
9.2.3.1. Get out and learn
9.2.3.2. Prototype first
9.2.3.3. Get real customers