The Startup Rules

By David Murray-Hundley and Kevin Doyle

This book is our gift to the entrepreneurial world we cherish so deeply. 'The Startup Rules' is penned by two seasoned entrepreneurs and friends, boasting decades of combined experience spanning from initial ideas to successful exits and IPOs.

Inside, you'll find:

 

- **Foundational Principles**: Unearth the bedrock rules that govern 90% of startup successes and challenges.

- **Tales from the Trenches**: Anecdotes and stories from our vast experiences, highlighting the highs, lows, and learnings along the way.

- **Sector-Specific Insights**: Learn how the rules can vary across different industries and how to navigate them.

- **Interactive Elements**: Scour the book for hidden gems like our fun 'find the curry names' game, and much more!

 

Together, we've engaged with tens of thousands of companies globally and met countless individuals on our journey. This book is not just a recount of our adventures but a playbook, designed to guide budding entrepreneurs whether you're starting anew or recalibrating an existing venture."

• Language: English
• Publisher: The Grumpy Entrepreneur
• Release date: Oct 11, 2023
• ISBN: 9798223032861

David Murray-Hundley

David Murray-Hundley, fondly known as "The Grumpy Entrepreneur," is a remarkably distinguished figure in the world of entrepreneurship and business. Renowned for his straight-talking, no-nonsense attitude, and an unshakeable resolve, he has created a reputation that reflects both his business acumen and his unique persona. Born in the United Kingdom, Murray-Hundley began his career in the technology sector, where he quickly made his mark. His first venture was Commerce One, a successful tech startup that he co-founded in the late 90s. Despite its initial success, the company was a casualty of the dot com crash, which served as a pivotal learning experience for Murray-Hundley.

Book preview

Dedication

To our long suffering wives, amazing daughters and friends who put up with us.

DMH & KD

Social Media Links

On linkedin just search for The Grumpy Entrepreneur

Twitter/ X @TheGrumpyE but find myself using it less more and more.

YouTube @thegrumpyentrepreneurshow

Instagram @TheGrumpyE

Web – www.parioventures.com

www.Thegrumpyentrepreneur.co.uk

Other Books Authored

Web 1.0 The Dotcom Era Defined

50 Ways For A Startup To Riase Investment Using ChatGPT

Vision 2025 – The Startup Forecast

50 Ways For A Startup To Make Money From ChatGPT

Forward

Starting a company is a lot like deciding you want to drop everything and join the circus. At first, the idea seems brilliant. Bright lights, the thrill of the audience, performing daring acts that defy gravity – all the makings of a grand time. But then, just as you're on the precipice of taking the plunge, a little voice pipes up, You're afraid of heights  . and clowns.

Welcome to the roller-coaster world of startups!

My name is David Murray-Hundley, but most folks know me as The Grumpy Entrepreneur. I'm nearing the half-century mark, and as I approach that milestone, I’m prepping for an epic party. One guest I'm eagerly looking forward to clinking glasses with is my best mate, Kevin Doyle. He's been a constant in my life since my early 20s, starting as one of my first bosses in the tech world. Over the decades, Kevin and I have weathered many a storm and shared countless laughs. Some even jokingly remark that he unofficially adopted me as a younger brother back in the day. Having the opportunity to pen down this book alongside him? Well, let’s just say it’s been an adventure in itself, especially given our shared propensity for, let’s say, 'creative' writing.

But back to startups and circuses.

Throughout these pages, you'll encounter strategies sprinkled with anecdotes, wisdom intertwined with hilarious blunders, and lessons often learned the hard way. I'm no ringleader, but I’ve played nearly every part in this circus - from the juggler trying to keep everything airborne to the occasional clown act, and yes, even the high-flying acrobat who sometimes forgot the importance of a safety net.

This book isn't meant to be a manual, but rather a candid chat between friends. One of whom, admittedly, has stepped on almost every entrepreneurial rake out there. Whether you're on the cusp of your startup journey or deep in the throes of it, I hope our tales and titbits serve you well. If nothing else, may they bring a chuckle or a knowing nod.

So, buckle up. The circus tent is up, the audience is ready, and the spotlight's on you. Embrace the chaos, cherish the highs, and always remember the passion that nudged you towards this thrilling ride in the first place.

To a future filled with startup successes and circus-worthy tales!

David Murray-Hundley (and, in spirit, Kevin Doyle)

Who Needs to Read This Book

1.   Budding Entrepreneurs:   If you have an idea and the urge to start your own business, but you're not sure how to begin, this book is your roadmap. Avoid the pitfalls many of us have stumbled into and learn how to navigate the startup terrain.

2.   Seasoned Business Owners:   Even if you've been in the game for a while, there's always room for growth and new perspectives. This book can offer fresh insights and serve as a much-needed reminder of fundamental principles.

3.   Investors:   To better understand the inner workings of the startups you're considering investing in, it's crucial to grasp the challenges and nuances they face. This will give you a richer understanding of the entrepreneurial mindset.

4.   Business Students:   The real world isn't quite like the classroom. This book provides practical wisdom that you won't find in textbooks, making it a valuable supplement to academic learning.

5.   Employees in Startups:   To better understand the vision and struggles of the founders you work for, dive into these pages. By grasping the bigger picture, you can become an even more integral part of the team.

6.   Dreamers on the Sidelines:   If you've ever thought about launching a startup but have held back due to fear or uncertainty, this book may just be the nudge you need to leap into action.

Why Read This Book 

1.   Real-World Insights:   Gleaned from actual experiences, this book doesn't just dish out theoretical advice; it offers genuine, hard-earned wisdom.

2.   Humour and Honesty:   The journey of entrepreneurship is a blend of highs and lows. This book tells it as it is, with a sprinkle of humour, ensuring that learning never becomes a bore.

3.   Empowerment:   Armed with the knowledge contained in these pages, you'll be better equipped to tackle challenges, make informed decisions, and increase your chances of success.

4.   Inspiration:   Beyond the practical advice, the stories and anecdotes shared can serve as a wellspring of motivation, reminding you that with determination, even the toughest obstacles can be overcome.

5.   Community:   Reading this book is like joining a community of fellow travellers on the entrepreneurial path. You're not alone in this journey, and the shared experiences can be both comforting and enlightening.

About the Authors and Pario Ventures (Written by DMH as Kevin hates doing this stuff)

Let's start with Kevin Doyle. I first got to know Kevin when he served as the CTO of BVR, and I'd managed to secure a job there. I recall an evening out in Leamington Spa, with Kevin having a board meeting the next day. Subsequently, Chase acquired the companies, and by the mid-1990s, we all found ourselves in New York with the company rebranded as Intellisys.

Kevin's achievements didn't stop there. He went on to accomplish great feats, including the sale of his Tring-based company, EPL, to an AIM-listed company. The list of Kevin's accomplishments is truly extensive. He's one of the most forward-thinking individuals I've ever encountered, and I'm proud to call him a close friend — almost like a brother

If you asked Kevin about a mentor he ever had, he would say his roots and his Irish father was his mentor

As for me, it's not so much about my journey. My first real tech job was with Kevin at BVR and Intelysis. After soaking in the bright lights of New York, I transitioned to Dione, exploring the realms of set-top boxes and chip and pin cards. Feeling the pull of the corporate world, I joined Reuters, which was an eye-opener as I managed a group of traders and their trading floors. My big break came when I joined the founding team of Commerce One in Silicon Valley, a company that became a NASDAQ darling. This was followed by my first stint as CEO at Convey in Belgium. Since then, I've been deeply involved in several early-stage companies — some were great experiences, while others were learning opportunities. We've exited from some ventures, while others are ongoing. My most recent role was as Chairman for E-Fundamentals, which was later acquired by CommerceIQ.

Pario Ventures was born from a collaborative vision. Around 2010 or 2011 (the exact year escapes me), Kevin and I decided to create a unified platform for our joint investment endeavors. Interestingly, we didn't establish a website for the venture until 2020.

Since its inception, Pario Ventures has made over 100 investments worldwide. At one point, we considered scaling up, but eventually realized the value in keeping things intimate — just Kevin, myself, and a select few collaborators. Our portfolio boasts successful exits, including Rivian's IPO, and we've been part of some of the most significant funding deals in recent memory. We operate from offices in Belgium, London, and New York.

The Great Curry Hunt Challenge!

Dear readers,

As you embark on this enlightening journey through the pages of this book, I've sprinkled in a bit of flavourful fun for you. Hidden throughout the text are names of 10 famous Indian curries. Your challenge, should you choose to accept it, is to spot them all!

Why embark on this spicy quest, you ask?

Well, for those culinary detectives who manage to uncover all the curry names, there's a reward waiting for you. You'll get exclusive access to Pario Ventures'  startup chicken korma tracker/checklist – a tool designed to aid and amplify your startup journey. Think of it as the essential spice mix to kickstart your entrepreneurial endeavours!

Now, here's a bit of trivia: I can't take full credit for coming up with this idea. Paul Alder, a colleague from my Ariba days, used to sneak curry names into scope documents. He'd then challenge folks to find them, ensuring they had thoroughly read the document. Brilliant, right? So, hats off to Paul for this ingenious concept.

Once you've got all 10 names, head on over to [www.parioventures.com](http://www.parioventures.com) for details on how to claim your prize.

Happy hunting and enjoy the read!

Warm regards,

David The Grumpy Entrepreneur Murray-Hundley

P.S.: Kevin and I had a blast hiding these names, so we hope you have just as much fun finding them!

My Personal Note to You

Chances are you might not read this entire book, but I wanted to share a personal statement nonetheless.

Any business is challenging. You'll encounter good people, and sometimes, good people may change for the worse. There are also those who were never good to begin with.

Never prioritize your business over your family or loved ones; doing so often leads to negative outcomes.

You might fail, or you might experience success only to fail later.

There might be times when you yearn for a regular job, and other times when the thought never crosses your mind.

Expect some to belittle or ignore you. When they do, use their doubt as fuel.

Things might not unfold as you envisioned — and that's okay.

Whether you're 18 or 60 when you embark on this journey, age doesn't define success. Good luck.

I personally consider myself fortunate, even with the challenges I've faced. This journey has blessed me with friendships that have spanned over 30 years. Companies and people come and go, but you remain the constant. Take care of yourself. Celebrate your victories, but remember we have our limits. Understand that it's natural to feel down or overwhelmed. If you ever reach that point, take a break. When you're ready, come back even stronger.

Best, 

DMH  The Not-Always-Grumpy Entrepreneur

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Vision First

Clearly define your purpose Kevin Doyle wisdom 

Vision. It’s one of those words tossed around so casually in startup circles, it might as well be the office coffee mug everyone keeps using. It's pervasive, essential, and, unfortunately, often diluted or deviated from its true essence.

Let’s get one thing straight: having a vision doesn’t mean painting grandiose pictures of becoming the next Elon Musk or Reid Hoffman. It’s not about lofty ideals or overly-ambitious goals that are far removed from reality. It’s about having a lucid, vivid picture in your mind—like a frame on a storyboard—depicting where you see your startup heading in the short term. It’s about clarity of thought and purpose.

Many people seem to conflate vision with a dreamy illusion, but in the true entrepreneurial sense, it’s more about the concrete direction in which you are trying to steer your startup. It's a mental blueprint of your immediate aspirations, an intimate understanding of your path forward.

Reality and Alignment 

Vision is like the foundation stone. It's where the nuances start, where the essence is captured. If your delivery doesn’t align with the vision you originally had, it's like building a skyscraper on quicksand. Stability in execution stems from clarity in vision, from the alignment between what we see in our mind and the reality we are building.

And here's the reality check: if you, the founder, don’t see it clearly, don’t expect investors, staff, or the media to see it for you. They are not mind readers, and your vision is not a guessing game. It's your compass, guiding your enterprise through unchartered territories, steering the wheel during the unpredictable journey of entrepreneurship.

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Originality and Improvement 

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Here’s a tip straight from the trenches: Don’t mimic other people's visions. Sure, drawing inspiration is part and parcel of the process, but there’s a fine line between being inspired and outright cloning someone else’s idea. If your vision is a mere replica, it lacks authenticity. It lacks the unique DNA of your thought processes, experiences, and aspirations.

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You might think, But what if their vision is successful? Well, success isn’t one-size-fits-all. Forge your path, improve upon what exists, innovate, iterate but keep your essence intact. Allow your vision to be a reflection of your values, your beliefs, and your aspirations.

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Building Blocks of Vision 

So, how do you form a vision that’s both clear and unique to your identity? Start by asking yourself the pertinent questions: Where do you see your startup in one year, three years, five years? What values are you upholding? What problems are you solving? How are you impacting the industry, the community, the world? Create a narrative, a story that resonates with your aspirations. Make it tangible, make it believable, make it your north star.

Remember, your vision is your guiding principle, the beacon that lights your entrepreneurial journey. It’s not about what you tell the world; it’s about what you show the world through your actions, your commitment, your