Co-Founders - short lessons learned
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Co-Founders - short lessons learned Presentation Transcript

  • 1. Co-Founders Lessons Learned @andreasklinger
  • 2. Co-Founders#1 searching#2 considering#3 joining#4 working(short lessons learned)
  • 3. @andreasklinger TL;DR: I do startups…LOOKK.com, die.socialisten.at, seedcamp mentor, leancamp fanboy Slides: http://www.slideshare.net/andreasklinger
  • 4. #1 searching @andreasklinger
  • 5. Searching sucks.
  • 6. Waiting sucks.
  • 7. Being dependent sucks.
  • 8. If I find a technicalco-founder…
  • 9. There is no “if” inentrepreneurialgrammar.And there istoo much stuff to doto wait or just search…
  • 10. Startup phases… Discovery Validation Efficiency Scale AcquisitionProblem/Solution Company building Product/Market Source: Steve Blank’s Customer Development
  • 11. Startup phases… Discovery Validation Efficiency Scale Acquisition Problem/Solution Company building Product/Market “Talking” Land(problem validation, first customers)
  • 12. Startup phases… Discovery Validation Efficiency Scale Acquisition Problem/Solution Company building Product/Market “Talking” Land “Public Hacked(problem validation, Prototype Land” first customers) (solution validation, more customers)
  • 13. Startup phases… Discovery Validation Efficiency Scale Acquisition Problem/Solution Company building Product/Market “Talking” Land “Public Hacked “Fix that crap” Land(problem validation, Prototype Land” (Becoming a real first customers) (solution validation, product and more customers) company, Fixing legacy, Channel optimization)
  • 14. Startup phases… Discovery Validation Efficiency Scale Acquisition Problem/Solution Company building Product/Market “Talking” Land “Public Hacked “Fix that crap” Land “Mystery Land”(problem validation, Prototype Land” (Becoming a real (Fighting Dragons, first customers) (solution validation, product and Saving princesses, more customers) company, etc) Fixing legacy, Channel optimization)
  • 15. Startup phases… Discovery Validation Efficiency Scale5-7 Months 3-5 Months Source: Startup Genome Project
  • 16. Startup phases…Discovery Validation Efficiency Scale Enough time to kill your first startup idea. You can do dozens ofiterations of your potential problem and solutionwithout ever touching code. Source: Startup Genome Project
  • 17. How to kill yourfirst 100 startupideas…CustDev is themost efficient way visualizing the solutionto kill your dreams. without biasing customersEver. committing customers testing the solution ( www.Keynotopia.com )
  • 18. Learncoding.Coding is not a sacred art, it’s a craft.
  • 19. Learncoding.Coding is not a sacred art, it’s a craft.Everyone can learn to code on“hacky prototype level”.
  • 20. GetClients.Money talks.
  • 21. GetTraction.There are millions of reasonsfor not having traction.But none of them is an excuse.
  • 22. Good problemsto have:“I got clients’ money, I need developmentsupport” (real)“My hacked-together prototype gets toomuch traffic, can you help me” (concrete)
  • 23. #2 considering @andreasklinger
  • 24. Beforeyou join:Write downyour first impressions and concerns.Positive and negative.Revise this every two weeks.People don’t change &Your gut is always right.
  • 25. Beforeyou join:Have a VERY honest talkabout WHY each of youwants to do that startup.
  • 26. Keeping the product abstracthelps in that talk.Goal: Find real intrinsic motivation
  • 27. E.g.Becoming known in the startup “scene”.Making money.Being known worldwide.Building software people use.Coding in that new language.Being innovativeHelping underdogs.Sounds more fun than my agency job.Play the VC/Startup game.
  • 28. Why?Intrinsic Motivationaffects Values and Comfort Zone.Both affect Strategies.People only do what people like to do.
  • 29. See finding a co-founderas hiring process.It’s the most expensive jobof the company. (equity intense)Still people spend less time on assessingtheir co-founders than their employees.Why?
  • 30. StartLoose…Loose projects…Loose contracts…Loose hopes…Loose (but honest) or no promises…
  • 31. #3 joining @andreasklinger
  • 32. Co-Founding~= Marriage54% of all marriages end in divorce.
  • 33. Co-Founding~= Marriage54% of all marriages end in divorce.Set up vesting.
  • 34. Co-Founding~= Marriage54% of all marriages end in divorce.Set up vesting (with 6-12 month cliff).
  • 35. Co-Founding~= Marriage54% of all marriages end in divorce.Set up vesting (with 6-12 month cliff).(seriously do it)
  • 36. #4 working @andreasklinger
  • 37. ClearLeadership“Some startup founder teams have a unified vision. Most have one strong leader.” ~ Devin Hunt
  • 38. ClearLeadership“Some startup founder teams have a unified vision. Most have one strong leader.” ~ Devin HuntBe clear who defines (and changes) the vision.Be clear about who decides in the end, if needed.Don’t confuse common agreement with democracy.
  • 39. Make communicationa habit.Daily calls.Weekly progress check.Clear process for each of them
  • 40. Make communicationa habit.Daily calls.Weekly progress check.Clear process for each of themE.g. Daily calls(only one person talks at a time, 10 mins max, discussions are done in a seperate call):1) What did i do today2) What am i going to do tomorrow3) Problems i face4) Announcements5) Ways i found to improve (e.g. myself) [idea by buffer]
  • 41. Co-Founders#1 searching#2 considering#3 joining#4 working(short lessons learned)
  • 42. recommended presentations by @robfitz on custdev/lean: http://leanca.mp/2012/01/intro-to-lean-startup-with-no-buzzwords-by-robfitz/http://thestartuptoolkit.com/blog/2012/05/how-to-do-and-what-to-expect-from- early-stage-customer-development-sales/ Pictures by “Where the Wild Things Are” by Warner Bros http://www.imdb.com/title/tt0386117/
  • 43. And if they haven’t killed each other they are livinghappily ever after… @andreasklinger