Here is the short version.
- Make Meaning – your desire and major goal should be to leave a mark on the world and not to make money.
- Mantra - define your goals with a four words mantra.
- “Jump to the next curve” - make a ten fold improvement over the prior art. Jump to the next Generation.
- The product must have Depth, Intelligence, and elegance. It must evoke emotions and be complete.
- Don’t worry, be crappy - If you have done all the above, and your product is complete but not perfect, it will be accepted.
- Polarize people - Do not be afraid to aim your product to an exclusive group of people, and invest in making your target consumers very happy.
- Let it grow - If your product turns to fit a different market segment than planned, don’t hesitate to sell it to anyone who wants it.
- Reduce churn - Improve the product to the users who bought it. Don’t listen to those who didn’t. Those who didn’t will always find a valid reason why not to buy.
- Make sure your product is unique and valuable (see diagram).
- Be prepare to pitch - follow Guy’s 10/20/30 rule.
10 Slides – must be sufficient
20 Minutes presentation – leave time for questions
30 Points font – VCs are older than you or use the following font size formula (VC_age / 2)
- Don’t give up when people that look smart tell you it will not work. Even Guy gave up 2B dollars when he refused to be the CEO of Yahoo on the grounds that it is not interesting and too long of a commute.
The session was very entertaining, if you get a chance go and listen to Guy first hand.
Alon Cohen
