Startups Best Practices
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This document provides best practices for startups. It discusses the importance of having a great idea, building a product that users love through constant improvement and feedback, assembling a strong founding team, and relentless execution to gain momentum. Key aspects include focusing on a niche, gaining feedback, prioritizing product development over other activities, hiring experts when needed, setting big goals, and constantly shipping new features and versions. The overall message is on passion for the mission, building engagement through a top-quality product, and relentless effort to achieve growth.
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Startups Best Practices
- 2. What Do you need? 1. Idea → Product 2. Team → Execution 3. Money
- 3. Build something that users love
- 4. Idea ● Ideas DO matter. ● Passion. ● Long term planning! ● The idea will expend. Start small/focus.
- 5. ● Should feel like a mission to the moon. ● It’s easier to start a hard startup than an easy one.
- 6. Looks like a good idea Looks like a bad idea Stratup
- 7. Idea ● You wish to gain a monopoly. ● Focus on a niche market. ● Analyze the market growth rate. ● Tell EVERYONE - Gain a lot of feedback.
- 8. What Do you need? 1. Idea → Product 2. Team → Execution 3. Money
- 9. Build a great product “Your time should be spent on building the product and talking to customers. 50/50 is a good start.”
- 10. Product Better to build something that a few users LOVE than something that a lot of users like.
- 11. Product - Signals word of mouth Needs to pay for growth
- 13. Product ● Get users manually. ● Listen to outside users. ● Build an engine: users -> feedback -> product improvement
- 14. What Do you need? 1. Idea → Product 2. Team → Execution 3. Money
- 15. Team Find a co-founder you know really well
- 16. Team - How? ● Resourceful ● Determination ● Hire only when you desperate
- 17. Questions to ask yourself ● Are they Smart? ● Do they get things done? ● Do you wish to spend a lot of time around them?
- 18. Questions to ask yourself ● Communication skills ● Determined ● You would feel comfortable reporting to them
- 19. Hire Hire True experts (especially at the start) Hire due to urgent need
- 20. Team - How? Employees should feel valued
- 21. Team - How? ● 1:1 meetings ● Expectations / Goals ● Weekly company meeting ● Fire fast
- 22. A great team builds a great company
- 23. What Do you need? 1. Idea → Product 2. Team → Execution 3. Money
- 24. Execution Everything will follow the founder - Do it yourself!
- 25. Execution - How? Put an effort and be productive
- 26. CEO ● Vision -> Company executing ● Raise -> Keep the money ● Hire -> Sell + Manage ● Sale -> Evangelize
- 27. Execution ● What to do? ● Get it done! ● Focus - Focus - Focus ● What are the 2-3 things you should do each day/week/month?
- 28. Get Things Done Say No (often) Set big goals Talk & Listen
- 29. Execution You need growth and momentum ● Get new things. Fast. ● “Move fast and break things” ● Be obsessed with quality ● Measure what moves the needle
- 30. Execution Do everything you can (and more) Don’t give up
- 31. Keep momentum ● Shipping new version every day/week ● New features ● Listen to your users ○ Actions ○ Metrics
- 34. Resource ● Booting ○ How to start? ○ How to build an amazing product? ● Money ○ how to raise money? ○ Valuation vs terms ● Monetization ○ App monetization course ○ Monetization questions