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

1. How to grow your startup to
the next level
practical insights on running a startup
#dffestival@bernardjhuang

2. who?
Bernard Huang
Distro team at 500 Startups
Co-founder at Mushi Labs

3. #dffestival@bernardjhuang
which level?

4. ● fundamentals
○ business model
○ market size
○ customer acquisition
your startup fundamentals

5. grow to the next level
● advice for growth
○ ask for help
○ always be hustling
○ persistence

6. your startup fundamentals

7. fundamentals
#businessmodel
#marketsize
#customeracquisition

8. #businessmodel
How’re you going to make monies?

9. “we’ll figure our business
model out later...
NO, figure it out now”

10. $20 (high end)
We take: 10%
$20*10% = $2
#businessmodel
Rough calculations are fine when starting.

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. “either have a large # of
people who will pay $”

13. “or a few # of people who will
pay $$$$”

14. #customeracquisition
Where are you going to find your first customers?

15. “validate the channel / tactic
and close your first customers
ASAP.”

16. #customeracquisition
Sleep better at night knowing people already bought.

17. “morale and momentum are
the lifeblood of your startup”

18. grow to the next level
#askforhelp
#alwaysbehustling
#persistence

19. “no one initially cares about
what you’re working on”

20. #askforhelp
Your friends, family, and fools will be your first traction.

21. “tell everyone you know what
you’re working on”

22. Your friends want to hear from you, take the initiative.
#askforhelp

23. “a lot of asking will be a waste
of time, but you never know”

24. Don’t be a dick. Be respectful of everyone’s time & interests.
#askforhelp

25. The world provides.
#askforhelp

26. The world provides.
#askforhelp

27. #alwaysbehustling

28. #alwaysbehustling
Even if you try to tell the world, it’s going to be uphill.

29. #alwaysbehustling
Don’t stop following up until someone says NO.

30. #alwaysbehustling
Even if you piss some people off along the way :(

31. “learn what works by learning
what doesn’t work”

32. (2007 - 2010) Online poker
(2010 - 2011) Dickey’s BBQ restaurant
(2011) snapsolve.com
(2011) zonted.com
(2011 - 2013) Mosec, Mobile Secretary
#persistence

33. (2013) Food by People
(2013 - 2015) 42Floors?
(2015) GameRunners
(2015) BakeCalc
(2016 - ?) Mushi Labs?
#persistence

34. “Keep on keeping on,
startup is a journey”
#dffestival
@bernardjhuang