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Seattle Startup Week | Matt Heinz explains why you have to fail in order to succeed

matt-and-audienceThe dust surrounding Seattle Startup Week is settling, but on Wednesday morning, in the midst of the hustle and bustle, we hosted a Startup Week event in our Redmond location. Matt Heinz, president of Heinz Marketing, joined us for breakfast and told us how we could scale our sales and marketing without breaking the bank. One of the ways to do this is to assess what you’re doing on a regular basis. Regular as in weekly, or—better yet—daily. Another way is to fire a lot of bullets. As Matt said, “You will not get it right right away.” Because what works for one company may not work for you.

Matt explained:

“Even if you do the math of what you need to achieve, even if you define your customer in a really crisp way, you will still fail a lot. If you’re doing it right. The path to innovation and success is paved with failure.”

Matt described the following scenario: A company thinks they have a great idea and they just go for it, guns blazing. But what if it doesn’t work? Or what if parts of it don’t work? You have an entire program or organization built around something that’s broken. They just built a cannon that doesn’t fire. They just wasted a lot of resources.

“What if you fired a couple of bullets instead? That’s faster, easier, cheaper. Some of those bullets will hit the mark, some of them won’t. But if it hits the mark, and you validate it a couple more times? Put down the gun and pick up a cannon.”

“We all need cannons in our business,” Matt explains, “But we can’t figure out which cannon to build until you do some testing and actually validate that.”

Check out Matt’s SlideShare deck from Wednesday’s presentation:

And for those who were unable to attend the event, you can see the full video here:

Check out our recaps of our other Startup Week events:

Kicking off with Aviel Ginzburg of Simply Measured
Russell Benaroya talks night runs and how to ease the loneliness of entrepreneurship
Angel investor Andy Liu illustrates the importance of building rhythms

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Seattle Startup Week | Kicking off with Aviel Ginzburg of Simply Measured

aviel-ginzburg-what-is-a-high-growth-startupYesterday, we spent the afternoon kicking off Seattle Startup Week with Aviel Ginzburg of Simply Measured, which recently raised $20M in venture capital funding. Aviel joined us in our Fremont location to talk about what a high growth startup really means. During his presentation, he mentioned Simply Measured’s first incarnation, Untitled Startup, Inc., which, as Aviel described it, was pretty much two guys with $150K in funding from Founders’ Co-Op “throwing ideas at the wall.”

Which begged the question:

“Why would they put money into you when you didn’t even have an idea or specific plan?”

Aviel smiled and quickly responded, “That is a phenomenal question. You should ask Andy Sack that question.”

But then he explained what investors are really investing in: people. Aviel had a proven track record as a software engineer at Appature, and, during a Startup Weekend, he and Simply Measured co-founder Damon Cortesi built an application called TweetSum. This app utilized something called the DBI, which, no joke, stood for Douche Bag Index. (Now, keep in mind that this was before social media analytics like Klout existed.) The DBI would score your followers from 1-100, letting you know how big of a douchebag they were. The catch?  The only way to see your own score was to tweet it. TweetSum ended up trending on Twitter for four straight days, and Aviel and Damon ended up being approached by Madrona Venture Group.

So why did a company without an idea or a specific plan get funded? According to Aviel:

“We had this track record of being people who could execute and who had interesting ideas…For an investor, it’s like, these guys are going to do something. I want a piece of this.”

For those who were unable to attend the event, watch the full video here:

Seattle Startup Week is in full swing! Join us for one of our upcoming events. Each will focus on scaling up and will feature a speaker sponsored by the Entrepreneurs’ Organization:

Wednesday, October 22 @ 8am | Scaling Sales & Marketing on a Shoestring Budget with Matt Heinz
Thursday, October 23 @ 1pm | Everything I Screwed Up While Scaling up with Andy Liu + Russell Benaroya
Friday, October 24 @ 1pm | Random Acts of Cupcakes with Jody Hall

Seattle Startup Week may be over, but we’re still basking in the event afterglow. Check out these recaps of our other events:

Matt Heinz explains why you have to fail in order to succeed
Russell Benaroya talks night runs and how to ease the loneliness of entrepreneurship
Angel investor Andy Liu illustrates the importance of building rhythms

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Seattle Startup Week | Scaling, and funding, and cupcakes! Oh my!

startup-week-seattle-header-wide We are excited to be sponsors for Seattle Startup Week!  With over 40 events hosted over five days, this is a celebration of entrepreneurship in Seattle.  thinkspace is hosting the “Scale Up” track, which will feature four events with EO-sponsored speakers, each with a focus on scaling up.  Check out our events below, and see the full line up of Seattle Startup Week events here.

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Entrepreneurs’ Organization (EO) is the only global network exclusively for entrepreneurs.  EO helps leading entrepreneurs learn and grow through peer-to-peer learning, once-in-a-lifetime experiences and connections to experts.  EO also has an Accelerator program.  The EO Accelerator program is the catalyst that enables first-stage entrepreneurs to catapult your business to the next level.  Our mission is to empower you with the tools you need to grow your business to more than US$1 million in sales and provide you with the skills to make yourself a better entrepreneur and leader.

 

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What is a High Growth Startup?

Monday, October 20th 1:00 pm – 2:30 pm // thinkspace Seattle

[Who] Aviel Ginzburg, co-founder of Simply Measured

[What] What a high growth startup really means.  The mentality, the expectations, the challenges and the fundraising.

[Why you should go] When it comes to raising venture funding, Aviel is a pro.  His company recently raised $20M in VC funding.

Refreshments provided.

Register for “What is a High Growth Startup?” here:

Scaling Sales & Marketing on a Shoestring Budget

Wednesday, October 22nd 8:00 am – 9:30 am // thinkspace Redmond

[Who] Matt Heinz, President of Heinz Marketing

[What] A fast-paced, action-oriented framework for building, managing and executing a scalable, predictable sales and marketing engine without breaking the bank.

[Why you should go] Matt brings more than 15 years of marketing, business development and sales experience from a variety of organizations, vertical industries and company sizes.

Refreshments provided.

Register for “Scaling Sales & Marketing on a Shoestring Budget” here:

Everything I Screwed Up While Scaling Up

Thursday, October 23rd 1:00 pm – 2:30 pm // Graham & Dunn

[Who] Andy Liu, angel investor, CEO of BuddyTV + Russell Benaroya, co-founder & CEO of EveryMove

[What] Both Andy and Russell have built and sold companies.  They will share how they screwed up along the way but still managed to succeed.

[Why you should go] Andy is an entrepreneur and angel investor who has invested in over 40 startups.  A former private equity investor and investment banker, Russell also appeared on Puget Sound Business Journal’s 40 Under 40 list and is on a mission to improve the health of 10 million people in 10 years.

Refreshments provided.

Register for “Everything I Screwed Up While Scaling Up” here:

Random Acts of Cupcakes

Friday, October 24th 1:00 pm – 2:30 pm // thinkspace Redmond

[Who] Jody Hall, founder of Cupcake Royale

[What] It’s not about the cupcakes. How to build a foundational culture of trust, collaboration and fun for a sustainable business.

[Why you should go] Not only is Seattle’s first cupcake bakery and café celebrating 11 years in business and soon-to-be seven locations, Jody was also former marketing lead for Starbucks, helping scale the company’s growth in early years.  (If that doesn’t convince you, come for the cupcakes.)

Cupcakes provided.

Register for “Random Acts of Cupcakes” here: