1. Deciding to Start a Startup
Should you start a startup? What type of people?
- Resilence
Motivation change very often, but
- Solve the problem
- People to work with
Ideas should be come up with the co-founder
- Flash thoughts
- Work with talented people
Can I live with worst case? Worst Case Scenario Analysis
Why NOT NOT startup
- Young
- Inexperienced
- Not smart
- Business
- No cofounder
- No idea
Things to Remember
- Counterintuitive 反直觉
- For decision
- Believe instinct about people
- Expertise: on the product and people rather than the startup itself
- Product: product is the most important thing for people to purchase
- All consuming: take up the life greatly
- Idea? Just try to build something you like
- Learn more about the state of art. So you can see what’s going on
2. Ideas
Common Mistake
- Not solving a real problem
- Stuck with tarpit idea (seems easy but actually hard to solve)
- Not evaluating
- Wait for the perfect idea
How to know its good or not
- Fit
- Market size
- Problem, really need?
- Competition
- Do you want this
- Change for the new market
- Idea Space
Seems bad and actually good idea
- Hard to start
- Boring
- Already competitor
How to come up with idea
- Become an expert on something valuable
- Work at a startup
- Build things you find interesting
- Live in the future
Take advantage of the team
3. MVP
How to find users?
- People in your network
- Coworkers
Interview
- Video, phone, in-person
- Build rapport
- Don’t introduce your product
- Listen
- Open-ended question
Product easier to sell to startup company
Build with time limit and spec
4. Launch
Customer is the most important
- They should pay
Sale: short, clear, address the problem
- Outbound sales email
Order: start with easiest
No free-trial
5. Growing
Set KPI, prioritize your time
Do things really impact the business
- Revenue Growth should be FIRST one
- Other metrics ensure the business going