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Grow Your Startup to the Next Level

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Keynote given at the Digital Freedom Festival in Riga, Latvia on 11/29/16. I cover practical insights on going from idea to your first few customers. Topics covered include:
* business model
* market size
* customer acquisition
* how to hustle your first few customers
* how to ask for help from your network
* the importance of persisting in your startup journey

Published in: Business
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Grow Your Startup to the Next Level

  1. 1. How to grow your startup to the next level practical insights on running a startup #dffestival@bernardjhuang
  2. 2. who? Bernard Huang Distro team at 500 Startups Co-founder at Mushi Labs
  3. 3. #dffestival@bernardjhuang which level?
  4. 4. ● fundamentals ○ business model ○ market size ○ customer acquisition your startup fundamentals
  5. 5. grow to the next level ● advice for growth ○ ask for help ○ always be hustling ○ persistence
  6. 6. your startup fundamentals
  7. 7. fundamentals #businessmodel #marketsize #customeracquisition
  8. 8. #businessmodel How’re you going to make monies?
  9. 9. “we’ll figure our business model out later... NO, figure it out now”
  10. 10. $20 (high end) We take: 10% $20*10% = $2 #businessmodel Rough calculations are fine when starting.
  11. 11. #marketsize How many paid coaching sessions do we need to stay alive? $10k / $2 = 5,000 per month And how many do we think there are total? NOT THAT MANY!!!
  12. 12. “either have a large # of people who will pay $”
  13. 13. “or a few # of people who will pay $$$$”
  14. 14. #customeracquisition Where are you going to find your first customers?
  15. 15. “validate the channel / tactic and close your first customers ASAP.”
  16. 16. #customeracquisition Sleep better at night knowing people already bought.
  17. 17. “morale and momentum are the lifeblood of your startup”
  18. 18. grow to the next level #askforhelp #alwaysbehustling #persistence
  19. 19. “no one initially cares about what you’re working on”
  20. 20. #askforhelp Your friends, family, and fools will be your first traction.
  21. 21. “tell everyone you know what you’re working on”
  22. 22. Your friends want to hear from you, take the initiative. #askforhelp
  23. 23. “a lot of asking will be a waste of time, but you never know”
  24. 24. Don’t be a dick. Be respectful of everyone’s time & interests. #askforhelp
  25. 25. The world provides. #askforhelp
  26. 26. The world provides. #askforhelp
  27. 27. #alwaysbehustling
  28. 28. #alwaysbehustling Even if you try to tell the world, it’s going to be uphill.
  29. 29. #alwaysbehustling Don’t stop following up until someone says NO.
  30. 30. #alwaysbehustling Even if you piss some people off along the way :(
  31. 31. “learn what works by learning what doesn’t work”
  32. 32. (2007 - 2010) Online poker (2010 - 2011) Dickey’s BBQ restaurant (2011) snapsolve.com (2011) zonted.com (2011 - 2013) Mosec, Mobile Secretary #persistence
  33. 33. (2013) Food by People (2013 - 2015) 42Floors? (2015) GameRunners (2015) BakeCalc (2016 - ?) Mushi Labs? #persistence
  34. 34. “Keep on keeping on, startup is a journey” #dffestival @bernardjhuang

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