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Peter Coppinger Teamwork Happy Consultant to Unhappy Product CEO BoS2016

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Peter has done a few uncommon things in his career. He built a product business out of a consulting business, he has built a company to $12 million ARR without external funding, as a developer, he has consistently undervalued the other elements a business needs to be successful. Though it has turned out OK, Peter discusses some of the challenges of making the jump from consulting to a product business and consider some of the key things that he wished he had done sooner as he built Teamwork.com

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Peter Coppinger Teamwork Happy Consultant to Unhappy Product CEO BoS2016

  1. 1. From Happy Consultant Developer to Unhappy Product CEO
  2. 2. Peter Coppinger Co-Founder & CEO at Teamwork.com @irlTopper
  3. 3. High Performance Teams Run on Teamwork
  4. 4. Manage Projects and Get Work Done
  5. 5. Deliver Better Customer Support
  6. 6. Chat Built for Better Teamwork
  7. 7. Used by Over 22K Companies All Around The World
  8. 8. 0 250000 500000 750000 1000000 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Jun 2011 Dec 2011 Jun 2012 Dec 2012 Jun 2013 Dec 2013 Jun 2014 Dec 2014 Jun 2015 Dec 2015 Mar 2016 We’re doing over $12 million in annual sales
  9. 9. So.. What is the talk about?
  10. 10. I’m a TERRIBLE CEO
  11. 11. Part 1 The Hamster Years
  12. 12. 1999 Digital Crew
  13. 13. We were like 2006
  14. 14. CFTagStore.com
  15. 15. Akari Software
  16. 16. GETTING ORGANISED 2007
  17. 17. Whiteboard just wasn’t enough
  18. 18. THE IDEA WAS BORN
  19. 19. "Ted, I’ve been thinking the exact same thing"
  20. 20. Part 1 - Key Takeaways • Consultancy sucks. (If you are doing consultancy, increase your prices & charge for the extras) • Don’t target a small market! • Don’t sell software components to developers. • Consultancy-ware software is no fun to build or sell. • Treat your customers with respect & listen to their suggestions. • Sometimes you've got to go with your gut.
  21. 21. Part 2 If you Build it They Will Come. Right?
  22. 22. Finding the Time
  23. 23. Hackedy hack hack. Product Design? Specs?
  24. 24. Preparing for Launch Eat your own Dog Food
  25. 25. TeamworkPM.NET Whhhhaaaaaaaattt?!?
  26. 26. Worst Product Launch Ever!
  27. 27. No Unique Positioning
  28. 28. Real Work - Ugggghh
  29. 29. Marketing?! Who needs Marketing Anyway? Hackedy hack hack
  30. 30. Engineering as Marketing
  31. 31. • We built a great product • We treated our customers like honored guests • We took every suggestion onboard We did only 3 things right
  32. 32. Riding the Long Slow SAAS Ramp of Death $0.00 $7,500.00 $15,000.00 $22,500.00 $30,000.00 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Sales in Year 1 $13,017 Sales in Year 2 $100,426 Sales in Year 3 $300,014
  33. 33. Our Magic Number: $30k MRR
  34. 34. Web Dev Business for Sale. Price: Don’t Drop the Ball
  35. 35. Side Note on Self-Funding It has never been cheaper to make software
  36. 36. Hell Night August 2012
  37. 37. Everything was down
  38. 38. Panic!
  39. 39. Hitting $1 Million ARR 50 Months after we launched December 2011
  40. 40. Part 2 - Key Takeaways • Make the time to build your product. Start right now. • Start with Research & Design, not Code. Duh. • Launch it Right. • Positioning - Stand Out, Be Different. • Fire your Day Job and Go “all-in” ASAP. • Eat your own Dog Food. • Don’t take funding • AWS hosting for the win. • Continuous Marketing from Day 1!
  41. 41. Part 3 Growing Up
  42. 42. Our Hockey Stick Event
  43. 43. Our Hockey Stick Event Buying the Teamwork.com domain
  44. 44. Did it make a difference?
  45. 45. 0 250000 500000 750000 1000000 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Jun 2011 Dec 2011 Jun 2012 Dec 2012 Jun 2013 Dec 2013 Jun 2014 Dec 2014 Jun 2015 Dec 2015 Mar 2016 Did it make a difference? Teamwork.com launch Hell, Yeaaah…
  46. 46. Time to be an actual CEO...
  47. 47. Aha! It’s my Job
  48. 48. Meetings Suck. But Get Over It.
  49. 49. Set the Vision
  50. 50. Mistake #783: Not Hiring Deliberately
  51. 51. Sculpting our Culture
  52. 52. Don’t Be A Dick
  53. 53. Mistake #386: No Marketing Team
  54. 54. Mistake #1038 We Don’t Need a Sales Team
  55. 55. Process Pains
  56. 56. Nobody has All the Answers
  57. 57. Trust Others and Let Go
  58. 58. Part 3 - Key Takeaways • Be the CEO. • Hold Quarterly Meetings. • Set the Vision. • Establish Your Culture. • Establish processes. • You don’t have to have all the answers. • Trust others and Let Go.
  59. 59. Summing Up Happy Developers can become Happy CEOs. Peter Coppinger @irlTopper peter@teamwork.com Get in touch: Slides at: http://tinyurl.com/topperbos16

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