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40 Reasons Not To Start Up Life on a burning platform - a tech entrepreneurs view. Nick Pelling, Nanodome Ltd –

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Presentation on theme: "40 Reasons Not To Start Up Life on a burning platform - a tech entrepreneurs view. Nick Pelling, Nanodome Ltd –"— Presentation transcript:

1 40 Reasons Not To Start Up Life on a burning platform - a tech entrepreneurs view. Nick Pelling, Nanodome Ltd –

2 1. Statistically, startups are for losers. (Startup failure rate: 80%+)

3 2. Your business plan sucks. (But everyones far too polite to say.)

4 3. Youll lose your own money. (Its nice having a shirt. Youll miss it.)

5 4. The world changes too fast. (i.e. your opportunity will probably vanish.)

6 5. UK angels wont fund you. (Not a serial entrepreneur? Oh dear.)

7 6. UK banks wont lend to you. (Sub-£100K turnover? Oh dear.)

8 7. UK VCs wont fund you. (Sub-£1m turnover? Oh dear.)

9 8. There are no grants any more. (Youre a decade too late for those, sorry!)

10 9. Good ideas are worth nothing. (Execution and sales are 50% each.)

11 10. Nobody at all believes in you. (Not your partner, your children, your dog.)

12 11. Is your startup worth a divorce? (Because thats exactly how bad it gets.)

13 12. Web business advice is crap. (Toxic, self-serving, superficial nonsense.)

14 13. TechCrunch is full of PR lies. (Does anyone believe a word of it?)

15 14. Business schools know nothing. (Will Peter Drucker help you start up? No.)

16 15. Nothing prepares you for this. (Entrepreneurship? 100% misery and pain.)

17 16. Wholl work for you? (…given that you cant pay them anything.)

18 17. Wholl supply your startup? (…given that nobody believes in you.)

19 18. Wholl buy from you? (No track record, no resources, nothing.)

20 19. How long will your savings last? (and is that a wall at the end of the runway?)

21 20. Your graphs make me gag. (Nobody believes graphs any more, sorry!)

22 21. Your market research stinks. (You found it in the library. So its true?)

23 22. Decision-making is really hard. (Is this the right font size? Errrmm…)

24 23. Your vision is just a delusion. (Mystic Meg wont invest in you either.)

25 24. Demos fail, and so will yours. (Ground open up and swallow me, please.)

26 25. Call an army of one a team? (Are you Leonardo da Vinci? Sorry, no!)

27 26. You prefer function to design. (Hey, so guess which one actually sells?)

28 27. You have no sales experience. (All entrepreneurs actually do is sell things.)

29 28. Youve got a big company CV. (Which will help you start up how, exactly?)

30 28. You can buy tech in, right? (So what you do is the really hard bit? No.)

31 29. It worked for James Dyson. (Thats far more nuanced than you think.)

32 30. It worked for Alan Sugar. (Is he really your role model? Lord help us!)

33 31. The Coalition wants startups. (Good job youre here to save the day, eh?)

34 32. You hate your day job. (But you love paying your mortgage, right?)

35 33. Youve got something to prove. (Try counselling, its quicker and easier.)

36 34. Youre hungry and ambitious. (Most entrepreneurs are just plain hungry.)

37 35. The world needs your gadget. (Oh, so you asked the world, did you?)

38 36. Youve read 100 good books. (History as written by lottery winners.)

39 37. You understand economics. (Manitee husbandry is just about as useful.)

40 38. Youve got great tech skills. (Shame about the rest, though.)

41 39. Youve got an MBA. (So get a proper consultancy job, then.)

42 40. You see things others dont. (Opportunities, or dead people? Or both?)

43 Despite all that, there is still…

44 …One Reason To Start Up (…but youre not going to like it)

45 1. You absolutely have to. The raging animal inside you wont let go. You come to realize: this is how it ends. You will battle the consequences till you die. Worse still, you know it isnt a real reason. But… you have no choice.

46 (I said you wouldnt like it)

47 The End! Thanks for listening! Any questions?


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