Download - What startups are
![Page 1: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/1.jpg)
Startups
![Page 2: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/2.jpg)
Three ingredients
• Good people• Make something that customers want• Spend as little money as possible
![Page 3: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/3.jpg)
Good Team
• Ideas are worthless• It’s the execution that matters• Ideas mutate• Startups always mutate• Good people can fix bad ideas, mediocre team
won’t execute even on a good idea.
![Page 4: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/4.jpg)
Good team - II
• Hackers• People who understand what customers want
![Page 5: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/5.jpg)
Give customers what they want
• Most biz fail since they don’t give customers what they want
• Get v1 of your product out as soon as you can. • Get a prototype out, refine based on customer
needs
![Page 6: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/6.jpg)
Generally
• Always trade stock for odds of success
![Page 7: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/7.jpg)
Cofounders
• Be careful with people• Company owns the IP• Have you created something together before?• Don’t have a sales guy running to company
![Page 8: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/8.jpg)
Startup == growth
• Difference between Google and barbershop• To grow rapidly, you need to make something
you can sell to a big market.• A barbershop doesn't scale.• If you start a barbershop, you only have to
compete with other local barbers.• If you start a search engine you have to
compete with the whole world.
![Page 9: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/9.jpg)
Startup == growth
• A startup has to make something it can deliver to a large market, and ideas of that type are so valuable that all the obvious ones are already taken.
![Page 10: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/10.jpg)
Growth rate
• The best thing to measure the growth rate of is revenue. The next best, for startups that aren't charging initially, is active users.
![Page 11: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/11.jpg)
Startup lessons
• Release early• Release often - make your system better at
least in some small way every day• Even better when you improve in response to
customer feedback – they’ll become evangelists
• Fear not the incumbents, but other startups you’ve not heard of.
![Page 12: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/12.jpg)
Startups get killed…
• Way more startups hose themselves than get crushed by competitors.
• There are a lot of ways to do it, but the three main ones are – internal disputes, – inertia, and – ignoring users.
![Page 13: What startups are](https://reader036.vdocuments.site/reader036/viewer/2022082915/53f921508d7f7253318b4ac0/html5/thumbnails/13.jpg)
Startups in a few sentences• Pick good co-founders• Launch fast• Let your idea evolve• Understand your users• Better to make a few users love you than a lot ambivalent.• Your improve what you can measure• Spend little• Avoid distractions• Persistence - don't give up• Things fall through all the time• Focused on growth• Get stuff done• Move fast