BC STARTUPS
Saved by @zmbnski

💬 I often get Q’s like these:

How did you get your first customers for WIP? How did you grow BetaList’s traffic? Etc.

Makers are looking to reverse-engineer success. I see it everywhere.

I don’t think it works that way and the answers to those questions are mostly useless. 💥

 I have built dozens of different products over the last couple of years. The vast majority failed. 😭

Surely if I know the answers to these questions, but still fail over and over again, these answers aren’t that useful. 🤷‍♀️

So what’s a better question to ask? 🤔
99.9% of the questions I receive are about the products that did well. In a way that makes sense, because we quickly forget about those that didn’t succeed.

🧠 This is known as survivorship bias.

Focusing on what survived, while ignoring what made it survive in the first place.
The real question, what you really want to know, is this:

What makes @WIP, @BetaList, and to some extent @AllStartupJobs succeed where my countless other attempts failed?

What separates a failed product 👎 from a successful product 👍?
Honestly, I don’t know. I wish I did.

It’s like Steve Jobs said “I’ll know it when I see it.” 👀

Same is true when we make products. We don’t know upfront what will work. But once we see an inkling of a product that does have potential, it’s not that hard to spot.
🚫 The wrong idea requires you to push and push until you’re tired and can’t take it anymore.

👌 The right idea will pull you forwards.
🚫 The wrong product will have you begging people for feedback. You’ll cling to any comment remotely positive. (“Wouldn’t use, but nice idea!”)

👌 The right product will attract people wanting to use it. People will give feedback without you asking for it.
🚫 The wrong product will have you focused on the technology, fine-tuning the design, tweaking the copy.

👌 The right product will give you the confidence to ship something embarrassing, because you know despite all its shortcoming it’s useful.
So keep shipping. Assuming your current product will fail and you need to try a bunch more before you’ve found the metaphorical spaghetti that sticks to the wall. 🍝
This means you need to keep your initial products small. If it takes 10 tries to find something that works, you can’t afford to spend more than month trying out an idea. 💡⏳
Persistence is not about sticking with what doesn’t work. Persistence is continuously experimenting until you’ve found something that goes work. ♻️💪
Happy shipping! 🚢✨

—
Inspired by conversations in 🚧 @WIP

https://t.co/J4IDFyoUgD
Grammar mistakes, stupid ideas, etc courtesy of tweeting at 6am in morning (that’s before I go to sleep, not after waking up). Bye! 😴
Oh, and when I talk about successful products and refer to my own, I mean that in the context of what’s successful for me personally. I prefer speaking from personal experience hence referring to my own products.

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1/ Pro Tip: Best way to find a job at a startup…

Hint: it doesn’t start with a job board…

a thread

2/ Go to @crunchbase and set up a filter for the following:

1. Amount raised: $5M - $10M
2. Announced on: today - 3 days ago
3. Headquarters location: your preference
4. Investor Name: @Accel, @Greycroftvc, @Sequoia, @a16z etc...

It should look something like this.


3/ When a company raises money… they are going to use the capital to build out their team.

It isn’t rocket science!

4/ When successful venture firms with track records like, @Accel, @Greycroftvc, @Sequoia, @a16z sink money into a startup. Their chance of success increases astronomically.

5/ Filtering for recent fundraising allows you to get a pulse for when a company is going to add positions to their job board (if they haven’t already)
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A thread.

As a freelancer,

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Second, prioritise its improvement.

The technology you use is irrelevant.

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It doesn't matter which you choose,

What matters is you have a website.

Pick a platform that you're comfortable with.

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If your website doesn't get leads,

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There are some amazing founders and indie hackers that have made 🤯-worthy progress this last year.

The stuff you can do in a year is seriously astounding 👇

👉 @TransistorFM reaching $22k MRR in one year: https://t.co/BuKmXEeEtH

I was one of their first customers and the progress @mijustin and @jonbuda have made working mostly part-time has been crazy.

Now both are full-time. Follow them on @buildyoursaas

👉 @talk2oneup reaching $10k MRR in one year: https://t.co/SOoGkKA19r

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@_shahedk
8 things startups can do early on to optimize for focus & productivity:

1. Synchronous meetings only for p0 and p1 items

All meetings should be 25 minutes by default with the ability to extend by 15 minutes if necessary.

Each meeting should have a clear agenda that outlines its context, asks, action items, etc.

Meetings should be brief & impactful

2. Asynchronous for everything else

- Stand ups
- Project demos / updates
- Design / Eng handoffs
- Documentation walkthrough

A simple flowchart for meetings:


3. Strive for 90% focused work / 10% meeting & sync time

- No meetings on Tues & Thurs
- Encourage turning off Slack & distracting notifications
- Track your time to better understand your distractions
- Buy your team a copy of Deep Work & Getting Things Done

4. No recurring meetings

Recurring meetings are a productivity killer. Try to avoid them when possible.

Instead, assess whether a follow-up meeting is needed at the end of each meeting.
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Elizabeth Yin
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@dunkhippo33
Saturday thoughts on funding: Where it helps. Where it doesn't. And how it affects team, success, and PM fit.

This is just my $0.02 after looking reviewing 30k+ early stage startups personally and having led 350+ investments across 2 VC firms & as an angel.

Let's begin! >>

1) Money is great to have in building a startup (for the least dilution and pain possible) That's true and always will be true. 😆

But just like how money can't buy you happiness, it also can't buy you PM fit.

2) PM fit is the holy grail for software startups. (we're not talking biotech - if you have a cure to cancer, I guarantee you everyone wants it).

But for software startups, it's unclear if ppl want your product at your price pt.

3) If you don't find PM fit, in this day and age, you will be able to get some sales. Maybe even say $1m in sales (or more!) per year, and you can still make a living.

But having sales does not mean that you have a repeatable customer acquisition process that can be sustainable

4) As an aside, that is why we invest at pre-seed & don't care about startup traction, because I don't believe traction at the earliest stages suggest PM fit. Traction only shows that a founder can execute (& that's impt too) but there are other ways to assess execution earlier.
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Magudeswarar Temple, Kodumudi
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