The document discusses the key steps to starting a successful startup: 1) Having a strong idea that addresses an important problem or need; 2) Building a product that users love by talking to users, getting feedback, and focusing on growth metrics; 3) Assembling a strong founding team; and 4) Executing effectively through constant iteration and a focus on the product and customer experience. The ideal startup has an important mission that motivates the team to create a fanatically great product for users.

1. How to Start a Startup
WELCOME, AND IDEAS, PRODUCTS, TEAMS AND EXECUTION PART I
SAM ALTMAN
President, Y Combinator
@sama
sam@ycombinator.com

2. 1. Idea 2. Product
3. Team 4. Execution

3. 1. Idea
1. Idea 2. Product 3. Team 4. Execution

4. The Idea comes
first
1. Idea 2. Product 3. Team 4. Execution

5. The company
should feel like
an important
mission.
1. Idea 2. Product 3. Team 4. Execution

6. Seems like a bad idea
STARTUP
This is a good idea
1. Idea 2. Product 3. Team 4. Execution

7. Why now
?
1. Idea 2. Product 3. Team 4. Execution

8. While you are a student:
! Think about new ideas
! Meet potential cofounders
1. Idea 2. Product 3. Team 4. Execution

9. Most people think first of what they want to express or make,
then find the audience for their idea.
You must work the opposite angle, thinking first of the public.
You need to keep your focus on their changing needs, the trends
that are washing through them. Beginning with their demand, you
create the appropriate supply.
50 Cent
1. Idea 2. Product 3. Team 4. Execution

10. 2. Product
1. Idea 2. Product 3. Team 4. Execution

11. Great Idea
Great Product
Great Company
1. Idea 2. Product 3. Team 4. Execution

12. ! Build something users love
! Talk to users
1. Idea 2. Product 3. Team 4. Execution

13. Intensity of like
#Users
1. Idea 2. Product 3. Team 4. Execution

14. 1. Idea 2. Product 3. Team 4. Execution

15. Great products win.
Make something users love.
1. Idea 2. Product 3. Team 4. Execution

16. Fanatical
#1
2. Product 3. Team 4. Execution
1. Idea

17. Get users manually.
1. Idea 2. Product 3. Team 4. Execution

18. User feedback
! What do they like?
! What would they pay for?
! What would make them recommend it?
Show it
to users
Product
Decisions
2. Product 3. Team 4. Execution
1. Idea

19. Metrics: Focus on growth
! Total registrations
! Active users
! Activity Levels
! Cohort Retention
! Revenue
! Net Promoter Score
2. Product 3. Team 4. Execution
1. Idea