funding Archives - Page 2 of 2

My new startup

Posted on November 19, 2009 by Steve Sammartino

I’m launching a new startup. For those who don’t know about it here are some of the key points:

The brand extension comes from an already successful enterprise
The partnership & legal agreements were entered into over a year ago
The idea is not an original one, rather a new execution of a proven formula
We didn’t pitch the idea or ask for permission, we just did it
It’s a brand extension
It’s a self funded project with no external capital. But we wont have ownership
We will give away the corporation, once it is cash flow positive
It’s a very long lead project
It wont be cash flow positive for more than 20 years
Estimated cost of the project is around $500K
We do expect to however, to yield emotional & community benefits very early after launch
It’s an industry we’ve never worked in before, but have a natural flair for it
Some of the product development will be outsourced to 3rd parties
Outsourcing will occur in 3 large segments of up to 6 years each
The most important product development will be done in house
There wont be any major advertising, brand awareness will be driven through family & friends
We already know it’s unique, but wont require any intellectual property protection
However, major security measures will be taken to protect the asset, especially in the incubation phase

My new startup is my baby due January 25th, and it’s the most exciting one I’ve ever been involved in. We’re involved in more startups than we think…

Startup Blog says: Let’s not define ourselves by what we own, but the cool stuff we do.

Startup School – 1 seat left

Posted on November 2, 2009 by Steve Sammartino

I’m very excited that Startup School Melbourne is this weekend. We still have a single seat left which is currently being warmed by this guy….

But we’d love to replace him with you. And if you need any more convincing then I’m pretty sure I’ll have done the job once you finish reading this blog entry.

Firstly – here’s a list of topics we’ll be covering in detail:

Idea Generating
Creativity in business. Creative thinking
Raising Capital
Art of Pitching
Legal tips, shortcuts and administration
Successful outsourcing (digital & production)
Building an international work force
Cash flow for startups & budgeting
Simplified project management
Personal & business branding
Selling like a guru
Generating PR and media
Building a Team

All of which is fully documented in a take home working manual so you’ll leave knowing exactly what to do and how to do it. Like I have.

We are also being joined by Yvonne Adele – Globally renowned Creativity and ideas guru!

You can’t learn this stuff in school, books or at University. And I should know as I teach Marketing at Melbourne University. You also get me as an on going mentor as a Startup School graduate with unlimited help in your start up. Which is incredible value give what most consultants (with less real experience) charge by the hour.

We are holding the event in the groovy boutique Lindrum Hotel. Where the space is great and the food and espresso is awesome. I tested it.

All of which is included in the price. You’ll be one of 10 people in an intimate learning environment. Not in a room full of people.

If that’s not enough , Startup School comes with a money back guarantee to blow your mind. I can say this because I know the 2 days will.

No, it’s not priceless – it’s priced at $998.

It will be the best investment in your entrepreneurship education you’ve ever made. it will make and save you thousands. This event is a one off, there is no next chance. If you want to chat about it – call me on the phone number in the right hand side bar of this blog.

Click here to book now.

(Seats still available for Sydney 21st & 22nd of November)

See you on the weekend, Steve.

Startup negotiating tactic

Posted on October 12, 2009 by Steve Sammartino

A simple way to keep a fair and reasonable percentage in your startup when getting funding is this.

Argue you require a sufficient percentage to keep you motivated.

Tell them you need enough stake to bring out your best performance. That they are investing in your performance and that this is part of the human make up. Then remind them that you are human.

Business Pitch

Posted on May 13, 2009 by Steve Sammartino

The other day I was involved in pitching my business rentoid.com – I wanted to stay true to my beliefs and present a largely visual presentation to what I expected was an ‘info hungry’ crowd. The type who don’t mind a page full of words and numbers. My rule was no more than 6 words per slide. Some had only 2.

I think the format is pretty useful, so I thought I’d share it. Basically in each chart just change the word ‘rentoid’ and insert ‘your business’ and I think it would be just fine. It was for a pitching competition (I know they seem to be the trend of the day) and we made it to the final after a few stages so I guess it’s a method which has worked. It’s only 5 slides. I think talking to pictures works because it makes people listen, not read, and it shows you know your business.

When seeking investors

Posted on April 10, 2009 by Steve Sammartino

Here’s some simple advice when seeking investors for your startup.

Never use the words ‘The Next’…

picture-411

Regardless of the uber successful business which follows these two words it just isn’t going to happen. For two reasons. The first is our probability of being this successful is almost non existent. Secondly if we are this successful, we wont be the next, but something new.

The main point is when people use the words the next, they lose credibility. And when someone says it to me regarding their new business venture, I find it hard to believe anything they say after that.