1. The REAL Life of an entrepreneur Matti Lamminsalo

2. Start of the presentation  Questions can be asked at any time – Just raise your hand  Guideline: 1. My story – Ups & Downs 2. Advising– How to help others to realize their dreams 3. How to recognize a good idea 4. Tips

3. Start situation  I was wondering how some people manage to do 8 hours a day a work that they hated and still be fine with the situation  I found many of my previous bosses were actually not too smart people  I hate 8 – 16 working time  I have always been wanting to create something cool  I had talked with my best friend that it would be nice to have a own company

4. THE START POINT

5. Yossa - First market research  Where would I like to go for a next weekend?  Its hard to find interesting nightlife events  News: Restaurant & Nightlife industry is having hard times  Call to my best friend  Call me back on the next day- LETS DO THIS

6. Planning of Yossa  Punch line: Website that tells everything you want to know about evening- & nightlife activities  Goal: Our users will never have a disappointed nightlife experience  Revenue model: Monthly fee, commissions, advertising.. What ever  Next step: Build a website or find a programmer

7. Overall Support  My parents – Didn’t really know what was going on  Student advisor (Opo) – Finnish the school first  Teachers – Are you stupid?  Friends – Are you out of your mind?

8. Starting knowledge  Don’t know how to be entrepreneur  Don’t know how to program  Don’t have any money  Don’t have any support  … Just super excited!

9. First step – How to start  Time – Leaving the school (not officially)  Money – Student grant + loan  Support – Get an advisor  Recruiting Kristian Jokela from MTV3  Several months of thinking  Lets do it!

10. Pre-sales!

11. Start of Yossa  10 bars & clubs as a pilot customers  1st place at Metropolia’s business idea competition  Start of website programming  Aalto Start-up Center  Full-time work with student grant (Tim in school & Kristian at MTV3)

12. Now it starts!  Contacting event organizer  Lots of “friend connections” in bar & nightclub scene  Launch of website 1.1.2012 with 50 bars & clubs!  User peak at first few days. After that small but decent traffic  Lots of user feedback  Improvements

13. 2012 - Go Big or Go home  Raise of first investment 50,000€ from Business Angel  Raise of 30,000€ from FFF  Office at Ruoholahti, Helsinki  Hire of first employee  Hire of first trainee  Invitation to many start-up/entrepreneur events  Start of Terassit App programming

14. Terassit App - Hype 14 “Loistava keksintö!” “Paistaako terassilla aurinko? Iphone kertoo” “Uusi mobiilisovellus löytää aurinkoisimmat terassit ja halvimman kaljan.” “Moderni terassihai suunnistaa mobiilisovelluksen avulla” “Ilmaisen sovelluksen avulla löydät lähistön parhaat terassit!” “Aurinkoiset terassit voi löytää nyt kännykällä”

15. 2013  30 paying customers  Realistic overview about nightlife markets  Business model pivoting  New Investment Round  TEKES- & Ely Funding for international growth  Shark Tank Finland  Launch of the Yossa App

16. More knowledge  App focus  Finland is not big enough  International market window is open but getting smaller  Team is great  Hype is on  Its important to capture the moment!

17. 2014 – Everything or nothing  App – Offers, discounts & reservations  Fast expansion strategy  VC Investment agreement – around 1m in two parts  Over 50 page long SHA  Warnings from current investors  VC tricks

18. 2014 Summer  Apartment from center of Barcelona  Two offices and 15 employees totally in Finland & Spain  130 Bars & clubs involved in Barcelona  Going out 5 times a week for business purposes  Big marketing budget

19. End of 2014 - Sky Falls  User base is raising  Good analytics & user data  Best Mobile Service in Finland 2014  Spanish customers are not paying their bills!  Big problems with 2 nd part of the VC investment  New revenue model that gives fast cash!

20. 2015 – Brutal reality  Need to fire 10 employee & friends  Need to investment 10,000€ together with other founders  Need to agree low salary  Focus only in Finnish markets  New revenue model: Targeted advertising  Hard work for around 60-70hours per week

21. 2016  New business model is working  Big cooperation agreements  In-house VS Out sourcing & partnerships  Domestic VS Internationally  Board decision in Q1/2016  Big personal decision

22. Benefits of advisors

23. Advisors are there to help  In start-up scene people are really helpful in generally  Ask help & use advisors – Fast track to success  Advisors are people with skills & experience who wants to help  I have:  6 people advisor board  2 other senior advisors  1 Personal entrepreneur advisor  Tens of close friends, entrepreneur and industry specialists

24. My Advisoring career  Willingness to talk about passion is working on everyone!  2012 – People and other entrepreneurs started to reach me  2013 – I was getting confident about my skills & knowledge  2014 – Professional start-up advisor since

25. How to recognize a good idea 1.Your passion 2.Overall market need

26. Case Study - Ivalo 2 nd hand Panda – Market place to buy- & sell everything you want. Really easy to use Swappler – Market place for 2 nd hand clothes Ivalo – Market place for fashion designers

27. General Tips – Everyone fails  If you analyze your behavior, failing is one of the most fastest way to learn  Making mistakes is totally fine, but if you make same mistake twice you are stupid  If you don’t try, how can you know  Doing something you scare but love gives you the best adrenaline rush

28. General Tips – Analyze risks  Bankrupt mark that lasts 5 years  Unstable income  Long working hours

29. General Tips – Just do your thing  Everybody is in charge of their own life  Don’t listen nobodies unless you want to become a nobody  Only listen to people who you admire and/or who you would like to become  Just do your thing and don’t listen bullshit!

30. General Tips – Get advisors  Contact every single person who you would like to get advices or help you  People like to talk with like-minded  People like to help others. Especially if you respect or show that you admire them  What is the worst thing that happens? – They say: NO

31. General Tips – Copy/Paste  Many great things have been invented  Making a great product is about putting lego pieces together  Outsourcing is the key of IT-entrepreneurs  Really few things can be pattented  Don’t be shame of copying!

32. General Tips - Team  At the beginning everybody needs to know about everything  Your goal should to have an All-star team where every single person have area/s where they are awesome  Giving shares / options for shares motivates people a lot

33. General Tips - How to be a boss Others  Its your company – your rules  Hire only people you trust – Micromanaging sucks Yourself  Measure, measure & measure  Clear tasks  In long-term your goal is to be come a ”manager of the team”

34. Last words  Everything is up to you!  Its your life make the MAX out of it!  Don’t be ashamed for being awesome and believe your dreams and work for them!

35. Contacts Matti Lamminsalo Serial Entrepreneur & Start-up advisor +358 40 500 2607 matti.lamminsalo@gmail.com