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I made something people want


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For Microsoft Developer Showdow
Technopreneurship Track
26 June 2008

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I made something people want

  1. 1. I made something people want By Paul Pajo
  2. 2. Startups in 13 sentences <ul><li>From Paul Graham’s Essay – Startups in 13 sentences </li></ul><ul><li>I usually send this to people who want to know what a startup is </li></ul><ul><li> </li></ul><ul><li>INC.Com recently had an article about Y Combinator – launched 145 companies since 2005 </li></ul>
  3. 3. A New Paradigm What do you want to be?
  4. 4. 8 out of 10 businesses fail within 2 years of incorporation How do you feel after reading this statement?
  5. 5. Don’t let the rat race bleed entrepreneurship out of you If you get burned out before you even started, it might be hard to get back to the starting line
  6. 6. 1. Pick good co-founders Good to Great principle – who will be the people in the bus
  7. 7. 2. Launch Fast <ul><li>A reason to engage users </li></ul><ul><li>You start learning immediately </li></ul>
  8. 8. 3. Let your idea evolve <ul><li>PayPal wasn’t originally about payment </li></ul><ul><li>Pivot, Pivot, Pivot </li></ul>
  9. 9. 4. Understand Users <ul><li>Make something people want </li></ul><ul><li>I made something people want </li></ul>
  10. 10. 5. Better to make a few users love you than a lot ambivalent <ul><li>1,000 fans from (Techmium) </li></ul><ul><li>Something in between the “head” and the “long tail” </li></ul>
  11. 11. 6. Offer surprisingly good customer service <ul><li>In a sea of mediocrity, it takes so little to stand out </li></ul><ul><li>At the onset, it SHOULDN’T Scale </li></ul>
  12. 12. 7. You make what you measure <ul><li>What you measure, motivates you </li></ul><ul><li>When people KNOW they are being measured, they up the ante </li></ul>
  13. 13. 8. Spend little <ul><li>What is your burn rate? </li></ul><ul><li>Don’t run out of money </li></ul><ul><li>The cheaper you can do this the MORE you can iterate </li></ul>
  14. 14. 9. Get Ramen Profitable <ul><li>Important Milestone </li></ul><ul><li>“You make just enough to pay for the founder’s living expenses” </li></ul>
  15. 15. 10. Avoid distractions <ul><li>Day Jobs/Consulting/Side Projects </li></ul><ul><li>Give your startup a chance – carve some time </li></ul>
  16. 16. 11. Don’t get demoralized <ul><li>That’s why you need a co-founder </li></ul><ul><li>Pivot, Pivot, Pivot </li></ul>
  17. 17. 12. Deals Fall Through <ul><li>Background processes </li></ul><ul><li>Don’t let your morale depend on it </li></ul>