20. Legend Story = [s] Costs = ($$$) Book = {b} Ask questions as you see fit.
21. Part I: Building Launch ready product Founding Team Company ($$$)
22. Building: Launch ready product You get paid for two things Build the least…you are in a vacuum Don’t build billing Set a deadline for launch What is “ready?” Exactly. Embrace constraints and focus [s]
23. Building: The founding team Two kinds of entrepreneurs Equity = ownership = bigger pie Human qualities: PASSION Trust, honesty, loyalty, openness Not in it for the money [s] Where to find [s] Entrepreneur, manager, technician {b} Roles: design, dev, ops, S$M 3 am test
24. Building: The Company Lawyers ($$$) Docs and dark clouds Hosting ($) Office [s] Advisors [s] Board Business plan
25. Part II: Marketing Categories Choosing a name Domain names Knowing your story Building your website Spending wisely ($$)
26. Marketing: Categories “ Don’t underestimate the power of categories” - Mike McDerment Are you creating a new category? Can you? Read “Positioning” [b]
27. Marketing: Choosing your name Easy to remember Easy to spell without explanation Describes the category Describes the benefit Describes the d ifference BONUS: Fun. Harsh. Consonants. [s]
29. Marketing: Choosing your name (con’t) Google:“How to name your company” It’s a process. It takes discipline. It’s about constraints. It will take 20+ hours. No shit.
31. Marketing: Knowing your story There is an art to telling stories It gives your history It will be remembered Different versions for different people Elevator pitch Stories evolve My story…
32. Marketing: Building a website Three pages Home page must explain: What it is? Who it’s for? Why it matters? Let’s look at a site…
34. Marketing: Spending wisely Out spend or out teach Banners in your community ($) Google PPC (outsource if you can) ($) Conferences, community ($) Community emails ($) PR is the best so… Blog your adventure…without delay
35. Part II: Product management Do support Usability tests Telephone interviews Decisions = Dope
36. Product management: Support Everyone does support [s] Post your phone number [s] Use a forum Hit Twitter Be everywhere It’s all fuel for the Big List…
39. Product mgnt: Telephone interviews ***These are a must *** Prepare a survey Benefits open ended Before and after Listen = energizing [s]
40. Product mgnt: Decisions = dope Decisions are part art, part science You are editor/curator Can’t please all people all the time If you do support, you’ll know Wait, wait, wait Remove the pain, stay true to vision [s]
47. Metrics: Other % of email that is glowing % of people who refer you Job satisfaction Days you did not want to work ?
48. Metrics: Extra - Tracking Track from the start Event logging Google is not enough Marketing/cookies Ref site, land URL, KWP
49. Part IV: Funding When to raise Where $’s come from What to look for in investors Dilution thoughts
50. Funding: When to raise When you don’t have to [s] Know your users better than anyone When you have a formula for the $’s When you’ve got traction When you know your market size
51. Funding: Where $’s come from? Consulting business & savings Love money Angels and advisors (27-1) Your mortgage … the bank? VCs/PE Capital markets (going public)
52. Funding: What to look for in investors Shared values [s] Conviction [s] Trust, honesty Operational experience Domain expertise 3 am test … it’s a marriage
53. Funding: Dilution thoughts Small piece of a big pie Smart investors want you incented You take one round, you’ll take three Barry Diller: “Hang on” Q: can you increase share price by more than dilution? [s]
54. Quiz Guess how many customers we had at the end of 2004? (we launched May 2004)
55. What you need to know to get a successful web app business off the ground.
