Startup weekend

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Startup weekend presentation

Startup weekend presentation

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Transcript

  • 1. STARTUP THINGS I WISH I KNEW THINGS I WISH I KNEW FROM ZERO TO HERO IN 15 MINUTESSaturday, November 17, 12
  • 2. ACTION BEATS THEORY EVERY TIME “solve a real problem” “satisfy real people’s needs” “deliver measurable results” “know your target market” “differentiate from competition” What do all these phrases REALLY mean and what can I SPECIFICALLY do?Saturday, November 17, 12
  • 3. IDEA SHARPENING EXERCISE (1 TO 10) A.K.A. EXTREME PIVOTING How well does your idea turn... Does your idea: • hard into easy or slow into fast (twitter.com) • have the ability to grow quickly • doubt into trust (yelp.com) • match your skills and passion • boring into fun (facebook.com) • make you proud • impossible into possible (ebay.com) • make you want to use it yourself • dispensable into indispensable (toilet paper • have so much potential it scares you story) (amazon.com)Saturday, November 17, 12
  • 4. A-TEAM ONLY THE BEST Cover the basics first • Skills that a startup team must have: technology, designer and business Recruit your weaknesses • find absolutely the BEST people for the job that are amazing in things you don’t know anything about Start right • A teams will attract A players • B team will attract C and D qualitySaturday, November 17, 12
  • 5. SAY HI TO JANE #1 INSIGHT TOOL TO HELP YOUR MARKETING, MESSAGING, PRODUCT Create your customer avatar story Their name, age, gender, relationship status, family. Where do they live, work, socialize. Secrets, dreams and desires... • “Step into her shoes” and define pains and JANE problems related to your specific solution Jane is a single 28-year-old lawyer who lives in downtown • Now you can ask any question you need Sarajevo. She earns 1500 KM the answer to: per month and lives with the Price: help of a credit card and, occasionally, her parents. She How much is that worth to Jane? enjoys going out to clubs and Market size: concerts. She cooks for her How many Janes are out there and will use my friends and hosts mini-parties whenever she can. She product? is fashion-conscious and easily spends a quarter of her paycheck on clothing and beauty products. She is Product design: obsessed with Facebook and Pinterest. She dreams of How would Jane react to this feature? What a trip to ..... you get the picture. can I add or remove to keep her engaged....Saturday, November 17, 12
  • 6. EVERY $1000 HOW TO MAKE MONEY WEB Mobile Apps Ads (adsense, admeld, etc) App sales • $ .50 eCPM = 2 million impressions • @ $.99 = 1000 sales Selling digital goods (ebooks, access to tutorial videos) In-app purchases - similar to Facebook • @ $5 = 200 sales Magazine subscriptions - hard to penetrate Monthly Subscriptions (quality content = video) • @ $2.99 = 300 sales • $25 = 40 subscribers In-app ads (a growing trend) • e.g. https://teamtreehouse.com • $1.64 eCPM iOS SaaS (software as a service) • $.88 eCPM Android • $100+ = <10 • e.g. http://seomoz.org Make your ads meaningful Lifetime access • internal mobile facebook $9.86 eCPM • http://rouxbe.com/ (pronounced ruby) • Sponsorships (requires sales people or self-serving) • @ $399 = 2.5 customers $1000+ - for one sale Facebook Web Apps Facebook game tokens • @$5 to save 1 hour of game play - 200 players = 200,000 players (one in 1000 will pay) Ads - similar to webSaturday, November 17, 12
  • 7. BRAVE NEW WORLD TO UNDERSTAND Kick-start site with external data - APIs Motivate using gamification for social graph, login, geo data, etc. use game principals on non-game e.g. foursquare.com - launched on top of software citysearch.com data (citysearch who?) Crowd-source curation of content Mix mobile and user location (GPS data) to stay up to date & unique to give a whole new life to existing data e.g. yelp.com, twitter, wikipedia, etc e.g. yelp.com’s “what’s nearby” search Deeply understand live social streams stream is sharing, not log (Facebook vs LinkedIn)Saturday, November 17, 12
  • 8. MONEY TO START PRODUCT BEFORE COMPANY, NOT OTHER WAY AROUND Web and Facebook Apps • Servers AWS free tier http://aws.amazon.com/free/ • Use open source http://github.com iPhone and iPad • XCode: https://developer.apple.com/xcode/ • iOS Developer program: $99 https://developer.apple.com/programs/ios/ Android • One time $25 fee: • Android SDK free: http://developer.android.com/sdk/Saturday, November 17, 12
  • 9. MEASURING SUCCESS NUMBERS ARE YOUR FRIENDS Web and Facebook Apps • daily users on weekly basis • Google Analytics & Facebook Insights Mobile • Daily downloads and in-app purchases Cash-flow • weekly estimates, monthly deep-check • Paypal with Mint or XeroSaturday, November 17, 12
  • 10. STARTUP = GROWTH A STARTUP IS A COMPANY DESIGNED TO GROW FAST Three phases of growth • Slow initial period - figuring things out • Rapid growth - made something lots of people want and know how to reach those people • Big company slow growth - bumping against the limits of the market Example of a company making $1000/month Weekly Yearly • 1% a week will 4 years later be making $7900 1% 1.7 x 2% 2.8 x • 5% a week will in 4 years be making $25 million a month 5% 12.6 x 7% 33.7 x • Do you dare to do the math for 10% weekly growth??? 10% 142 xSaturday, November 17, 12
  • 11. INVESTMENT BE THE ONE THAT MIGHT HAVE GOTTEN AWAY Take investment as late as possible • You will optimize your cash-flow early and know exactly how to smartly invest money once you do have it • You will have easier time finding investor and have upper hand in negotiation Look for mentors and advisors that can help beyond money Validation of your business model • Users’ growth or Cash-flow projections • Executive team (success track means less risk) • Expecting 10x return on investment When it comes to choosing between higher valuation and keeping control always, always, always keep as much of control of the company as possible Don’t blow the money - it is not yoursSaturday, November 17, 12
  • 12. SET UP A CLOUD COMPANY Google apps (free tier) for mail http://www.google.com/enterprise/apps/business/ Paypal for bank http://paypal.com/ Mailing services for virtual address http://www.earthclassmail.com/ Support: Zendesk and Twitter http://www.zendesk.com/ http://twitter.com/Saturday, November 17, 12
  • 13. LEARNING THE BEST THINGS IN LIFE ARE STILL FREE Stanford Ecorner: http://ecorner.stanford.edu/ Startup school: http://startupschool.org/2012/ Google Tech talks: http://www.youtube.com/user/GoogleTechTalks • Gamification: http://www.youtube.com/watch?v=6O1gNVeaE4g iTunes U: http://www.apple.com/education/itunes-u/ • iPhone Stanford Classes: http://itunes.stanford.edu/ Rework: http://37signals.com/rework Virtual goods: http://www.dubitplatform.com/blog/2010/12/31/design-a-social-game-economy-how- much-should-a-virtual-t-shi.html/ Google everything else yourselfSaturday, November 17, 12