Description
Book SynopsisIn this witty and wise guide to the dilemmas of entrepreneurship, Rizwan Virk debunks misconceptions about how the world of startups works and offers hard-earned advice for every step of the journey.
Startup Myths and Models is an ideal companion for readers from those just embarking on the startup life to those looking for their next adventure.
Trade ReviewIn this lively read, Riz Virk scrutinizes popular startup myths and provides crystal-clear startup models to guide entrepreneurs on their journey. Fortify yourself on this book’s rich experience and insights before you set out. -- Randy Komisar, partner, Kleiner Perkins Caufield & Byers, author of
The Monk and the Riddle and
Straight Talk for StartupsRiz Virk has been a founder, advisor and investor in startups for twenty-five years;
Startup Myths and Models condenses those years of experience into a set of coherent lessons about the real challenges entrepreneurs face and how to overcome them. If you are going on the entrepreneur's journey, this book is a great companion for every stage of the adventure! -- Brad Feld, cofounder of Foundry Group and author of
#GiveFirst and
Venture DealsWhen launching a new business, there's no one I'd rather have at my side than Riz Virk as a cofounder or adviser. Having Riz's book,
Startup Myths and Models, is the next-best thing. Equip yourself to win the battles that you'll encounter in your startup adventure by reading and digesting the lessons in this book. 100% results, no fluff! -- Mitchell Liu, cofounder of SLIVER.tv, Theta Labs, Gameview, and Tapjoy
In
Startup Myths, Riz Virk debunks common misconceptions about life in Startup Land. Both funny and wise, this book is a worthwhile read for any entrepreneur. -- Jeffrey Bussgang, Harvard Business School, general partner at Flybridge Capital Partners, and author of
Mastering the VC GameI’ve founded five companies, made angel investments in over 100, and served on numerous startup boards—I wish I'd had a book like this before I started! Packed with hard-earned wisdom, Riz Virk does a great job of debunking myths and over-simple rules of thumb in the startup universe. -- Michael Dornbrook, COO of Harmonix (makers of
Guitar Hero), member of Common Angels, and VP of marketing at InfoCom (makers of
Zork)
Startup Myths and Models is one of the best textbooks for founders who are going through accelerators, (and, of course for those that aren't). Riz Virk reveals secrets about starting, funding, growing, and selling your startup all while doing what's most important - staying sane and healthy. This is one of my go-to recommendations for any founder beginning or currently on the startup journey. -- Pat Riley, CEO of GAN (Global Accelerator Network)
Riz Virk was one of my inspirations to be an entrepreneur. My advice to would-be entrepreneurs is to read Riz's book
Startup Myths and Models, because it contains wisdom drawn from his twenty-five years of startup battles. -- Rajeev Surati, cofounder of Flash Communications (sold to Microsoft) and Photo.net
Whether you're a curious student or a serial entrepreneur,
Startup Myths and Models is on my recommended reading list for any startup founder. Riz's use of the Hero's Journey will help you understand how answering the call to the startup adventure will forever change you for the better! -- Tim Miano, associate director, Harvard Innovation Labs, and cofounder/CEO, SP@CE
Startup Myths and Models cuts through all the startup noise, bringing real world experience to every entrepreneur in a super easy to access reference book. -- Will Herman, coauthor of
The Startup Playbook, angel investor, founder of 5 startups (2 IPOs)
This cogent, far-thinking explanation of how start-ups work will be invaluable for any aspiring founders stymied by traditional business wisdom. * Publisher’s Weekly *
There are practical do's and don'ts, and a nuanced discussion of how to tell if a truism is going to help or hurt your particular situation. This is the kind of expertise most founders don't have direct access to, and there are plenty of useful nuggets here. * ZDNet *
Table of ContentsIntroduction
Stage 1: The Call to Adventure: Myths About Starting a CompanyMyth #1: Build a Billion-Dollar Company
Myth #2: Founders Start Companies to Make a Lot of Money
Myth #3: You Have to Be First to Market
Bonus Myth #B-1: Start Something You Are Passionate About
Stage 2: Fuel for the Journey: Myths About Raising MoneyMyth #4: A Great Product and a Big Market Are the Most Important Things
Myth #5: Two Guys and a Business Are Better Than Two Guys and a Plan
Myth #6: Talk to as Many Investors as You Can
Myth #7: Take the Highest Valuation You Can Get
Bonus Myth #B-2: Raise as Little (as Much) Money as Possible
Stage 3: Travel Companions: Myths About Hiring and ManagementMyth #8: Hire the Most Experienced People You Can Find
Myth #9: Get Out of the Way and Let People Do Their Jobs, or I Can Do It Faster Myself!
Myth #10: Better Management Causes Faster Growth
Bonus Myth #B-3: If I own X%, Then My Stock Is worth $x!
Stage 4: The Road of Trials: Myths About Going to MarketMyth #11: Focus, Focus, Focus
Myth #12: My Product Failed Because My Sales Guy Sucks
Myth #13: If Only We Could Spend More on Marketing!
Myth #14: Fail Fast, Pivot Quickly
Bonus Myth #B-4: There Is No Such Thing as Bad Publicity
Stage 5: Acquiring the Treasure: Myths About Exiting Your CompanyMyth #15: At This Rate, My Startup Will Be Worth Twice as Much Tomorrow!
Myth #16: They’re Buying Us Because Our Product is Awesome!
Myth #17: The Best Way to Cash Out Is to Sell or Go Public
Bonus Myth #B-5: Upfront Cash Is Better than Stock or an Earnout
Stage 6: The Underworld and the Return: Myths About Life and Death in a StartupMyth #18: Startups Are Hard Work
Myth #19: Whew, I’m Glad That’s Over! No More Startups for Me!
Bonus Myth #B-6: If My Startup Fails, My Life Is Over!
Bonus Myths
Appendix A: The Startup Market Lifecycle and Curves
Appendix B: Meet Our Cast of Characters and Startups
Acknowledgments
About the Author
Index
