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So you want to do a startup

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  • Transcript

    • 1. So you want to do a startup? Rashmi Sinha, SlideShare
    • 2. Are you sure?
    • 3. Who am I?
    • 4. SlideShare...
      • best place in the world to share presentations
    • 5. 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!
    • 6. 1. Make your app useful
    • 7. Solve one problem really well
    • 8. Make app social
      • SlideShare as non social app
        • PowerPoint plugin?
        • No virality
    • 9. 2. Speed is imperative
    • 10. Why startups need speed?
    • 11. Small & fast
    • 12. Set the tone for speed
      • In hiring, development, design, releases, biz dev
    • 13. Be agile
      • (worry about scaling later)
    • 14. The monster of expectations
    • 15. 3. What to build
    • 16. Why we built products we did
      • MindCanvas: Could sell into market
      • SlideShare: Understood market
    • 17. 37signals: Build less
    • 18. Build for right reasons
      • Start with less
        • Add complexity (when necessary)
        • Remove features
      • Get people used to change
    • 19. To build a feature or not to
          • Listen to loudest?
          • Watch behavioral metrics?
          • Read blog posts?
    • 20. Loudest users OR silent majority
      • slidecasting example
    • 21. How to double traffic ?
    • 22. Anatomy of a feature launch
      • Groups: V1, V2 & V3
    • 23. 4. Ideas are dime a dozen
    • 24.
      • 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
    • 25. Execution is all that matters
    • 26. 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?
    • 27. 5. Understand market size (& revenue model)
    • 28. http://www.flickr.com/photos/docman/5053155/
    • 29. Potential market size
      • No of PowerPoint presentations
      • Blogs & Video
    • 30. Potential revenue streams
        • AdSense
        • Affiliate Networks
        • Sponsorships
        • Fremium
        • Licensing
        • White label version
        • Marketplace
        • Job board
        • Professional services
    • 31. Good early legs
      • Adsense
      • Consulting revenue
    • 32. Revenue stream impacts application
        • Advertising
        • Pro accounts & Fremium
        • White label solutions
      • -Revenue stream should not kill virality
      • -Don’t loose focus on majority
    • 33. Problems with fremium
    • 34. VC money?
      • Retain control till you can
      • Take money (if you absolutely need it)
        • From right partners
    • 35. 6. Get advisors & angel investors
    • 36. SlideShare advisors & angel investors
      • Dave McClure
      • Guy Kawasaki
      • Mark Cuban
      • Jonathan Abrams
      • Yee Lee
      • Hal Varian
      • Saul Klein
    • 37. Who?
    • 38. 7. Outsource what you can
    • 39. Outsource complexity
      • Amazon S3, EC2
      • Dedicated servers instead of colocation
      • Google Ads
      • Google Search
      • Different widgets (Gigya, AddThis)
    • 40. 8. Working with remote teams
    • 41. Challenges
      • Getting to know each other
        • Hard to develop informal rapport
      • Need to look at same screen.
      • Body clock
      • Benefits: 24 hour cycle
    • 42. Synchronous is must Skype GoToMeeting
    • 43. SCRUM End of day reports
    • 44. 9. How to Launch
    • 45. The Alpha Feedback to the embed No publicity Browser compatibility issues
    • 46. How developed should a Beta be?
        • SlideShare beta
        • Enough to get point across
        • Little of social layer
        • Not buggy
    • 47. SlideShare launch
      • Invite only: Before or after launch?
      Alpha Stealth mode Open to all Launch Invite only
    • 48. Initial Momentum
    • 49. 10. Use metrics
    • 50. What metrics?
      • Performance: page load times...
        • Errors: 404, 500s...
        • Traffic: Web logs
          • Database tracking: No. registrations, login, uploads, contacts
          • Customer feedback emails
    • 51. Get yourself a shadow app
        • Metrics we care about
      • Simple console with daily, hourly
      • Simpler than web analytics
      • Whole team uses it
      • Measure project success, iterate
      • Proxy AB testing
    • 52. Startup Metrics from Dave Mc Clure
      • Acquisition : users come to site from various channels
      • Activation : users enjoy 1 st visit: " happy ” experience
      • Retention : users come back , visit site multiple times
      • Referral : users like product enough to refer others
      • Revenue : users conduct some monetization behavior
    • 53. 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
    • 54. 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
    • 55. Finally
      • slides at
      • http://www.slideshare.net/event/webvisions-2008/slideshows
      • find me at
      • www.slideshare.net/rashmi
      We are hiring!