Bryan Starbuck, CEO, [email_address] One Philosophy for running a Startup Company

Bryan Starbuck, CEO, [email_address]

Company Direction Funding Marketing Philosophy for Running a Startup Company “ 10x ”

Company Direction

Funding

Marketing

achieving it will… Easier to hire Easier to receive funding … Define a High Bar for your Startup

achieving it will…

Easier to hire

Easier to receive funding

…

Your Grandma lives off of $1mil savings now in the Stock Market Pick your Friend’s Startup Would you advise her to invest $50k in your friends startup? The “ Grandma Test ”

Your Grandma lives off of $1mil savings now in the Stock Market

Pick your Friend’s Startup

Would you advise her to invest $50k in your friends startup?

10x Philosophy is: 10x Pain 10x Solution Financial Transaction Scale Transactions Definition of “ 10x ”: Ten Times Better

10x Philosophy is:

10x Pain

10x Solution

Financial Transaction

Scale Transactions

10x Pain What is the large customer pain? Problem: Resumes are NOT ranked Only time to read 200 of 40,000 Job Boards return 40,000+ unranked resumes resumes

10x Solution How is the problem Solved? Fixed: Resumes are ranked Immediate access to BEST from millions

Financial Transaction Show one financial transaction Customer Acquisition Cost: $x Price: $y Cost to Service: $z

Scale Transactions How Many Transactions until Max? Market Size 78 mil Transactions My Market Size 10% of market Total Revenue: $x mil

AoA Slides : Angel Check List With 10x, the other areas of your company need to be solid

The Marketing Beast

Conversion Rates Drop off rates RADICALLY drive up Customer-Acquisition-Costs Conversion Rate $1 per click (CPC) Create Account Create Account Free Account Create Account Task 2 Paid Account Landing Page $1.00 $4.00 Task 1 $8.00 $4.00 $20.00 $25.00

Not a Final Marketing Solution Great for Beta 1 Iterate before you are perfected WATCH OUT for VC Traction paradox Full Solution if… You can take 5+ years to grow & burn rate ~= $0 First to market in new segment Organic Growth

Not a Final Marketing Solution

Great for Beta 1

Iterate before you are perfected

WATCH OUT for VC Traction paradox

Full Solution if…

You can take 5+ years to grow & burn rate ~= $0

First to market in new segment

Organic Growth is being hopeful… … Hope is Not a Strategy … founder, “ I need Marketing for Customers ” Reply, “ Your problem is upstream ” Famous Quote: -vs- -Tony Wright or Mark Mauder (?)

Total Customer Acquisition Costs: $20/2 = $10 CAC Organic vs Paid Traffic $1 per click (CPC) Conversion Rate results in $20 CAC Organic Traffic 1-to-1 Word of Mouth

Creating Businesses Key Steps 10x Pain 10x Solution

Creating Businesses Key Steps 10x Pain 10x Solution Conversion Rates are Brutal Customer Acquisition Costs are often $20 to $100 Don’t under estimate this impact in your business model