Paul Graham’S Lessons For Startups 2006

Paul Graham’s Lessons for Startups Startup School 2006

Background
Paul Graham speaking to students at Startup School 2006, Stanford University
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1. Release Early
Get a version 1 out fast and improve it based on user’s reactions
Startups die because they release too slow, not too fast
User feedback is unpredictable but critical
Releasing early creates a sense of urgency to fix live bugs

2. Keep Pumping Out Features
Improve on version 1 fast
Focus on customer needs
Avoid complexity
Continuous improvement is great marketing
Listen to your users
Force yourself to improve

3. Make Users Happy
Loyal users are worth more than gold
But don’t ignore casual users
Show (don’t tell) users what the software does

4. Fear the Right Things
Worry about the right things
Disasters are normal
Worry about startups, not big companies
Worry about future competitors, not current competitors
Top 3 real concerns: internal miscues, inertia, ignoring users

5. Commitment is a Self-fulfilling Prophecy
Bet on grad-students, not professors
Disasters are the norm
Investors judge startups by the founders’ commitment
Be ready to fight to the death

6. There’s Always Room
Think of the possibilities for improvement, not the status quo
Google, MySpace, Facebook, and del.ico.us are not the final startups ever

7. Don’t Get Your Hopes Up
Optimism is power but also dangerous
Be realistic about what you expect others (users, employees, deals) to do
Don’t pin all hopes on one investor, one customer, one supplier
Be flexible and keep other options open
Focus on users, users, users

Conclusion
Startups are stressful
Why do it?
Startups are a way of compressing years of employment into a shorter time
Startups can be fun

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Paul Graham’S Lessons For Startups 2006

by guest9baf73 on Jan 26, 2008

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Paul Graham’S Lessons For Startups 2006 — Presentation Transcript