In Conclusion-=-=-=-=-=-=-=-=-=-=-=-=-Results speak, and Zuckerberg’s brilliant results, from user engagement to product development and his lemons-into-lemonade PR strategy, are important case studies.
All start-ups should take the following to heart:
1. No one remembers how you got there, only that you got there.
2. Almost any amount of bad behavior will be forgotten and forgiven if you have a big enough checkbook and unique user count. This is not what we should teach our kids, but it is something to keep in mind as an object lesson in the level of forgiveness that can occur.
3. There is no such thing as bad PR in the age when the “Jersey Shore” is creating millionaires out of individuals who have more ounces of gel in their hair than IQ points.
4. Developer-driven startups that move fast win, and “let the chips fall where they may” will win over considered, product manager-driven cultures.*
(Link: Jason Calicanis: What I Learned from Zuckerberg’s Mistakes)
Jason Calicanis: What I Learned from Zuckerberg's Mistakes
December 16, 2010
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David Heinemeier Hansson, 37signals – Unlearn Your MBA (Stanford's Entrepreneurship Corner: )
February 23, 2010
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David Heineimeier Hansson, the creator of Ruby on Rails and partner at 37signals in Chicago, says that planning is guessing, and for a start-up, the focus must be on today and not on tomorrow. He argues that constraints–fiscal, temporal, or otherwise–drive innovation and effective problem-solving. The most important thing, Hansson believes, is to make a dent in the universe with your company.
(Link: David Heinemeier Hansson, 37signals – Unlearn Your MBA (Stanford’s Entrepreneurship Corner: ))
Startup Hiring Advice
November 18, 2009
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Always be hiring
The rule of thumb is that it takes 3-6 months to hire a really good person. Why so long?
* Good people are rare, so it takes a while to dig them up. Like truffles. Or weeds. No, not like weeds.
* Good people won’t change jobs more often than once a year — probably more like every 3-4 years, especially if their employer appreciates their abilities and compensates them accordingly. So you have to find this person in their “once every three years” window.
(Link: Startup Hiring Advice)
Startup Metrics for Pirates (SeedCamp, Sept 2009)
September 23, 2009
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Latest version of Startup Metrics for Pirates (from presentation at SeedCamp Week, Sept 2009, London)
(Link: Startup Metrics for Pirates (SeedCamp, Sept 2009))
3 drivers of growth for your business model. Choose one. | VentureBeat
September 3, 2009
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There are a number of models that you can use to understand any business in an abstract way. For most service startups, I recommend Dave McClure’s AARRR framework.
1. Acquisition
2. Activation
3. Retention
4. Referral
5. Revenue
(Link: 3 drivers of growth for your business model. Choose one. | VentureBeat)
How Freemium Can Work for Your Startup
September 1, 2009
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10 Commandments of a Successful Freemium App
1. Make sure that the usefulness and engagement of the app are in perfect sync.
2. Make your user value proposition a simple one.
3. Focus deeply on one single domain.
4. Clearly define what is free and what is paid.
5. Build a subscription service into your application.
6. Encourage your customers to use your application often, for the more they use the application, more likely they are to establish a relationship with your company and that means you can sell them something new (or an upgrade) in the future.
7. Data is the ultimate lock in. The more data that is stored inside the application, more difficult it is for customer to switch, because of the extra effort involved.
8. Free is free marketing. Instead of advertising, the service should sell itself.
9. Make sure what you started offering for free, remains free.
(Link: How Freemium Can Work for Your Startup)
The long lost formula for start-up success.
August 30, 2009
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The first phase of the process is customer discovery, which is identifying who the people are with the problem. This is harder than it sounds as they must not only have the problem, they must realize they have a problem and be willing to invest time and money in a solution to that problem. These are your early adopters. They are willing to overlook shortcomings in your product and believe that you will make it better with time.
(Link: The long lost formula for start-up success.)
How a 'Made' Startup Was Clipped – iLike – Gawker
August 19, 2009
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The company was once valued at $53 million, back when Ticketmaster bought a 25 percent stake in late 2006, according to the Seattle Times. iLike amassed a total of $17 million from Ticketmaster and other investors like Silicon Valley venture capitalist Vinod Khosla and former AOL exec Bob Pittman. Now it’s negotiating to sell for just $19.5 million
(Link: How a ‘Made’ Startup Was Clipped – iLike – Gawker)
The Incubator Consultancy
August 3, 2009
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#A partner’s responsibilities include making sure there are new projects lined up, and working on their business plan.
#Once a partner starts a new business they become a ‘founder’.
#Founders convince other consultants to contribute their ‘bench time’.
#Founders of startups pay each other in equity, rather than cash.
(Link: The Incubator Consultancy)
How to Hire an A-Team – ReadWriteStart
July 8, 2009
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10 Tips for Hiring an A-Team
1. Don’t be afraid to hire people who are smarter than you.
2. Hire athletes.
3. Focus hard on building a win/win compensation plan.
4. Take the time you need.
5. Be demanding.
6. Be honest and transparent.
7. Listen.
8. Establish techniques and tests specific to the position.
9. Get a second opinion.
10. Don’t just “fill a position.”
(Link: How to Hire an A-Team – ReadWriteStart)
