CHECK YO-SELF BEFORE U        WRECK YO-SELF:                 Pivots                     Aaron Batalion                 Co-...
What is a startup? "a search for a scalable, repeatable          business model"          - Steve Blank, Four Steps to the...
If a startup is a search....           then your first idea...                  is probably wrong!                        ...
So what’s a pivot?    "The idea that successful startups  change direction but stay grounded in          what theyve learn...
PivotsOur search for a scalable business                                     5
07/2007Social Application Consulting                                6
7
8
Visual Bookshelf                   9
PivotsScalable?            Need a new idea...                                 10
11
12
10X more reviews than Amazon!31,161 vs 2,921                                      13
14
* 10 employees @ $85k = $1M* $12.50 * 8% = $1* 1% of purchase conversion* 100M visitors = $1M                             ...
* 10 employees @ $85k = $1M          * $12.50 * 8% = $1          * 1% of purchase conversion          * 100M visitors = $1...
Full Site Takeovers                      17
Not enough!      More than Books?                         18
More than Books!                   19
Doubled Traffic!          Not Enough!                        20
Google = Document Graph      Facebook = People Graph           LivingSocial = Stuff Graph                                 ...
Targeted Ad Platform                       22
Need Traffic!!#1 app on MySpace the first day!                                   Uhhh...                                  ...
PivotsScalable?            Need a new idea...                                 24
This Stinks!               25
Pick Your Five!                  26
If we nail this...               Facebook will buy us!!                                        27
28
03/09        ~300k PV/day                       29
3/21   10M PV/day                    30
31
4 engineers6B PVs/month35M in 3 weeks   no sleep.                               32
PivotsScalable?            Need a new idea...                                 33
34
35
36
37
Seriously guys??                   38
Solved a real problem                    Screw it...              Lets just sell to Facebook..                            ...
Facebook didnt buy us...                           40
Careful building “features”...The bigger guy might just build it too.                                          41
42
Fucking Farmville!                          Took #1 Spot! Took user’s CCs!           Reinvested profits for growth!       ...
PivotsScalable Revenue?                    Need a new idea...                                         44
3 cities   Small sales team                              45
07/21/092 week prototype                          46
Scale Users              + Scale Merchants                         = Scale Revenue                                        ...
48
Thousands of field sales                       49
Thousands of field salesInternational Growth                                 50
Thousands of Purchases              Hundreds of Cities                                   51
National Deals                 52
80 purchases/sec      2 largest social commerce deals ever                                             53
54
Escapes - Travellargest flash travel site                             in first week                                       ...
Premium LivingSocial Events                              56
High End Restaurants                       57
White Glove Delivery?                        58
What about regular delivery?                               59
60
61
Lessons Learned                  62
Our Core DNA          =    Products & Techology                           63
Consumer Internet     Hard Part =  TRACTION                    64
Learn as fast as possible       find traction           pour gas on the fire!                                   65
Success  not pretty code     not infinite scale          It’s SUCCESSFUL Products!                                        ...
Measure EVERYTHING!                      67
Does it work?                68
Rails? Node.js? .NET?                Which test framework?Is my domain model correct?      Heroku? Amazon Web Services?  S...
Dont Hate... Iterate!                        70
J.S.I.O.use what you know                    “Good enough is ok”                                          71
each developer          deploys dozens of times                            per day                                      72
Only work with amazing peopleDefault to “no”                               Culture!                                       ...
“12 startups in a startup”                             74
Execution Matters Most                         75
76
PivotsThanks!              77
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Aaron Batalion, LivingSocial, Lean Startup SXSW

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Aaron Batalion, CTO of LivingSocial
Presentation on pivots at the 2012 Lean Startup SXSW in Austin.

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Aaron Batalion, LivingSocial, Lean Startup SXSW

  1. 1. CHECK YO-SELF BEFORE U WRECK YO-SELF: Pivots Aaron Batalion Co-Founder & CTO LivingSocial @abatalion
  2. 2. What is a startup? "a search for a scalable, repeatable business model" - Steve Blank, Four Steps to the Ephiphany 2
  3. 3. If a startup is a search.... then your first idea... is probably wrong! 3
  4. 4. So what’s a pivot? "The idea that successful startups change direction but stay grounded in what theyve learned" - Eric Ries, The Lean Startup 4
  5. 5. PivotsOur search for a scalable business 5
  6. 6. 07/2007Social Application Consulting 6
  7. 7. 7
  8. 8. 8
  9. 9. Visual Bookshelf 9
  10. 10. PivotsScalable? Need a new idea... 10
  11. 11. 11
  12. 12. 12
  13. 13. 10X more reviews than Amazon!31,161 vs 2,921 13
  14. 14. 14
  15. 15. * 10 employees @ $85k = $1M* $12.50 * 8% = $1* 1% of purchase conversion* 100M visitors = $1M 15
  16. 16. * 10 employees @ $85k = $1M * $12.50 * 8% = $1 * 1% of purchase conversion * 100M visitors = $1MHave to be top 200 site in US! 16
  17. 17. Full Site Takeovers 17
  18. 18. Not enough! More than Books? 18
  19. 19. More than Books! 19
  20. 20. Doubled Traffic! Not Enough! 20
  21. 21. Google = Document Graph Facebook = People Graph LivingSocial = Stuff Graph 21
  22. 22. Targeted Ad Platform 22
  23. 23. Need Traffic!!#1 app on MySpace the first day! Uhhh... 23
  24. 24. PivotsScalable? Need a new idea... 24
  25. 25. This Stinks! 25
  26. 26. Pick Your Five! 26
  27. 27. If we nail this... Facebook will buy us!! 27
  28. 28. 28
  29. 29. 03/09 ~300k PV/day 29
  30. 30. 3/21 10M PV/day 30
  31. 31. 31
  32. 32. 4 engineers6B PVs/month35M in 3 weeks no sleep. 32
  33. 33. PivotsScalable? Need a new idea... 33
  34. 34. 34
  35. 35. 35
  36. 36. 36
  37. 37. 37
  38. 38. Seriously guys?? 38
  39. 39. Solved a real problem Screw it... Lets just sell to Facebook.. 39
  40. 40. Facebook didnt buy us... 40
  41. 41. Careful building “features”...The bigger guy might just build it too. 41
  42. 42. 42
  43. 43. Fucking Farmville! Took #1 Spot! Took user’s CCs! Reinvested profits for growth! 43
  44. 44. PivotsScalable Revenue? Need a new idea... 44
  45. 45. 3 cities Small sales team 45
  46. 46. 07/21/092 week prototype 46
  47. 47. Scale Users + Scale Merchants = Scale Revenue 47
  48. 48. 48
  49. 49. Thousands of field sales 49
  50. 50. Thousands of field salesInternational Growth 50
  51. 51. Thousands of Purchases Hundreds of Cities 51
  52. 52. National Deals 52
  53. 53. 80 purchases/sec 2 largest social commerce deals ever 53
  54. 54. 54
  55. 55. Escapes - Travellargest flash travel site in first week 55
  56. 56. Premium LivingSocial Events 56
  57. 57. High End Restaurants 57
  58. 58. White Glove Delivery? 58
  59. 59. What about regular delivery? 59
  60. 60. 60
  61. 61. 61
  62. 62. Lessons Learned 62
  63. 63. Our Core DNA = Products & Techology 63
  64. 64. Consumer Internet Hard Part = TRACTION 64
  65. 65. Learn as fast as possible find traction pour gas on the fire! 65
  66. 66. Success not pretty code not infinite scale It’s SUCCESSFUL Products! 66
  67. 67. Measure EVERYTHING! 67
  68. 68. Does it work? 68
  69. 69. Rails? Node.js? .NET? Which test framework?Is my domain model correct? Heroku? Amazon Web Services? Shut up and build stuff! 69
  70. 70. Dont Hate... Iterate! 70
  71. 71. J.S.I.O.use what you know “Good enough is ok” 71
  72. 72. each developer deploys dozens of times per day 72
  73. 73. Only work with amazing peopleDefault to “no” Culture! 73
  74. 74. “12 startups in a startup” 74
  75. 75. Execution Matters Most 75
  76. 76. 76
  77. 77. PivotsThanks! 77

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