So you want to do a startupPresentation Transcript
So you want to do a startup? Rashmi Sinha, SlideShare
Are you sure?
Who am I?
best place in the world to share presentations
Taking over the world (one PowerPoint at a time!)
Start May 06 > Beta > Launch Oct 06 > Grow > Grow more > Angel funding Dec 07 > Series A Apr 08
We are hiring!
1. Make your app useful
Solve one problem really well
Make app social
SlideShare as non social app
2. Speed is imperative
Why startups need speed?
Small & fast
Set the tone for speed
In hiring, development, design, releases, biz dev
(worry about scaling later)
The monster of expectations
3. What to build
Why we built products we did
MindCanvas: Could sell into market
SlideShare: Understood market
37signals: Build less
Build for right reasons
Start with less
Add complexity (when necessary)
Get people used to change
To build a feature or not to
Listen to loudest?
Watch behavioral metrics?
Read blog posts?
Loudest users OR silent majority
How to double traffic ?
Anatomy of a feature launch
Groups: V1, V2 & V3
4. Ideas are dime a dozen
NO EXECUTION = $1
WEAK EXECUTION = $1000
SO-SO- EXECUTION = $10,000
GOOD EXECUTION = $100,000
GREAT EXECUTION = $1,000,000
BRILLIANT EXECUTION = $10,000,000
AWFUL IDEA = -1 WEAK IDEA = 1 SO-SO IDEA = 5 GOOD IDEA = 10 GREAT IDEA = 15 BRILLIANT IDEA = 20 Ideas are just a multiplier X http://www.oreillynet.com/onlamp/blog/2005/08/ideas_are_just_a_multiplier_of.html
Execution is all that matters
Care about execution
Scrutinize ideas: “can we execute on this?”
How fast? When can we start work?
What will first version take?
Which team member will do it?
What metrics to track progress?
What will we push back to work on this?
5. Understand market size (& revenue model)
Potential market size
No of PowerPoint presentations
Blogs & Video
Potential revenue streams
White label version
Good early legs
Revenue stream impacts application
Pro accounts & Fremium
White label solutions
-Revenue stream should not kill virality
-Don’t loose focus on majority
Problems with fremium
Retain control till you can
Take money (if you absolutely need it)
From right partners
6. Get advisors & angel investors
SlideShare advisors & angel investors
7. Outsource what you can
Amazon S3, EC2
Dedicated servers instead of colocation
Different widgets (Gigya, AddThis)
8. Working with remote teams
Getting to know each other
Hard to develop informal rapport
Need to look at same screen.
Benefits: 24 hour cycle
Synchronous is must Skype GoToMeeting
SCRUM End of day reports
9. How to Launch
The Alpha Feedback to the embed No publicity Browser compatibility issues
Retention : users come back , visit site multiple times
Referral : users like product enough to refer others
Revenue : users conduct some monetization behavior
Customer Lifecycle & Conversion Behavior 4. REFERRAL Emails & widgets Campaigns, Contests 5. Revenue $$$ Biz Dev Ads, Lead Gen, Subscriptions, etc 2. Activation Homepage / Landing Page Product Features 1. ACQUISITION SEO SEM Apps & Widgets Affiliates Email PR Biz Dev Campaigns, Contests Direct, Tel, TV Social Networks Blogs Domains
Example Conversion Metrics (note: *not* actuals… your mileage may vary.) Category Conversion Status Conv % Est. Value Acquisition Visit Site (or landing page, or external widget) 100% $.01 Acquisition Doesn't Abandon (views 2+ pages, stays 10+ sec, 2+ clicks) 70% $.05 Activation Happy 1 st Visit (views X pages, stays Y sec, Z clicks) 30% $.25 Activation Email/Blog/RSS/Widget/Acct Signup (anything that could lead to repeat visit) 5% $2 Retention Length of Session / # of Clicks (length/intensity of engaged visit, >180s) 10% $1 Retention Email Open/ RSS view -> Click/Repeat Visit (3+ visits in first 30 days) 3% $5 Referral Refer 1+ users who visit site 2% $1 Referral Refer 10+ users who activate 0.2% $10 Revenue User generates minimum revenue 2% $5 Revenue User generates break-even revenue 1% $25