shift conference 2015 - andrea barrica (500 startups)
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- 1. Andrea Barrica, venture partner/EIR @ @abarrica
- 2. From Vitamin to PainKiller: Story of
- 3. ! ! ! $1.1M seed ! !
- 4. 2011 (private chefs)
- 5. 2011
- 6. We werent making money. !
- 7. Steve Blank, a forefather of Lean Startup
- 8. Congratulations, youve failed!
- 9. 5 Lessons ! (on how to bootstrap a startup after burning $1M)
- 10. Lesson #1 dont look back
- 11. we fired everyone
- 12. (even our customers)
- 13. Lesson #2 back to basics: find the pain
- 14. Lesson #3 empathy pay$ !
- 15. be delightful, get referrals = $1M ARR in 10mo
- 16. "inDinero has saved us thousands of dollars and reduced the amount of time I spend thinking about accounting by many hours a week. A fantastic investment." ! - Kaz, CEO of Kash
- 17. Lesson #4 beware metrics that dont matter
- 18. the vitamin:
- 19. 20K users 5M transactions/month $2B processed
- 20. the painkiller:
- 21. ! $315K MRR -400+ paying customers ! -growing 2x YoY ! -99% MoM retention rate
- 22. ! revenue MoM % growth CAC vs. LTV % referrals WAU/DAU !
- 23. Lesson #5 find pain first, then worry about scale !
- 24. not scalable? 315K MRR! 99% MoM retention rate 80% gross margins
- 25. Bonus Lesson: diverse teams win
- 26. ! Diversity will make you more money. ! +women +minorities +introverts +high empathy +all ages !
- 27. Andrea Barrica @abarrica firstname.lastname@example.org Hvala lijepa!
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