startup 101
TRANSCRIPT
Passion, lots of it
If you’re in it for the
go get a JOB
- co-founder, not partner- alpha, closed beta, beta, full release- web 2.0 social networks, sharing- back end / front end / AB testing- QR code- CPM / CPC- conversion rate, user acquisition cost- incubators- fundraising aka looking for investors- angels: rich people willing to invest in your crazy idea- sandhill rd- VC: venture capitalist (series A, B, C)
Nobody cares about
your s#!tty idea
If there’s a will there’s a
way!
Set yourself as a thought leader in your industryBefore building anything decide what your product will be, what will it look like, research competition, what do people complain about your competitors? What is the pain you’re trying to solveGet the best team togetherASK! Ask for people to join your team, ask for feedback, ask for free services, for free rent, for advice, for money, ask ask ASK!!!Join an incubatorYou must be ashamed of your first launch, or you’ll never launchMove FAST, you’re small, your competitors are big, fat and slow, use your size to your advantage and adjust as you see your consumers fit, change based on feedback, but don’t take ALL feedbackAnd don’t really worry about your competitors, just give the BEST for your customers, alwaysDon’t get lazy, competition is tough and you always need to be on top of your gameSet goals, yearly, monthly, weekly, daily: have accountability buddyDon’t give up, it’s hard
Who are your customers?Who will pay and use your services? Where do they hang out?What do they read? What are they passionate about? What is the pain you’re trying to solve? How large is your market? Are you catering to
Acquiring them:- Facebook ads, google ads- twitter- the more people you tell, you’ll get earlier access (fab.com)- give $10 for every 20 invites sent- give $10 as soon as your friend buys something- do something crazy…
Resources - odesk.com or elance.com (build site)- techcrunch.com (news) - mashable.com (news)- hackerdojo.com (co-working space)- meetup.com (events + free food!) - wordpress.com (blog)- startupchile.org (free $)- Lean Startup by Eric Ries (book)- ycombinator.com 500startups.com founderinstitute.com (incubators)