how not to manage product (mike arsenault) - failcon 2012
Post on 13-May-2015
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@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
@mikearsenault #failcon
LEARN FROM OUR MISTAKES
@mikearsenault #failcon
SMB Phone System
Grasshopper R&D
SaaS Subscription Billing 2010
2009
@mikearsenault #failcon
2010
SMB Word of Mouth
April 2011
@mikearsenault #failcon
2010
SMB Word of Mouth
April 2011
$500,000 14 MONTHS
@mikearsenault #failcon
40,000 CUSTOMERS
0 SALESPEOPLE
@mikearsenault #failcon
40% WORD OF MOUTH
@mikearsenault #failcon
Encourage More Referrals
@mikearsenault #failcon
Refer An Entrepreneur
@mikearsenault #failcon
$200 CPA
1.5% CONVERSION
22% CONVERSION
$25 CPA
$100K SIGN UP REVENUE
Otהr"ar#$% &'(ls Re)r ' Ent*p*(ur
@mikearsenault #failcon
Word of Mouth Referral System
@mikearsenault #failcon
@mikearsenault #failcon
+7
@mikearsenault #failcon
✔ A+, Experienced Team
✔ Experienced Founders
✔ 40,000 Customers
✔ 2,000 Beta Opt-ins
✔ Endless Resources
@mikearsenault #failcon
We still failed.
@mikearsenault #failcon
Why?
3x CHURN
+dn’t ,- . Cus./rs
@mikearsenault #failcon
Why?
3x CHURN
3x CPA
+dn’t ,- . Cus./rs
Ra0o Ads?
L1 2ar3 45/
@mikearsenault #failcon
Why?
3x CHURN
3x CPA
✗ High Touch
+dn’t ,- . Cus./rs
Ra0o Ads?
L1 2ar3 45/
No 67s97פ
@mikearsenault #failcon
Wasted Our Beta List
@mikearsenault #failcon
Wasted Our Beta List
CHIRP
@mikearsenault #failcon
Engineering Design
Product
Bigger Team ≠ Higher Velocity
@mikearsenault #failcon
Didn’t Charge From Day 1
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA FEEDBACK
@mikearsenault #failcon
Didn’t Charge From Day 1
MUST HAVE
DATA FEEDBACK MORALE
@mikearsenault #failcon
Product > Marketing
@mikearsenault #failcon
Product > Marketing
Building Product
Talking To Users
@mikearsenault #failcon
@mikearsenault #failcon
Thanks.
@mikearsenault mike@rejoiner.com
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