BC STARTUPS
Saved by @zmbnski

1) Core attributes of a promising founder worth following:
- Progress/trajectory over time
- How well they lead a team &
- Make the vision happen
- Most impressed when someone is way ahead of where you thought they would be when you check up/see them a few months later.

 2) Indie Makers have such a benefit of being small, fast, nimble workers in comparison to big companies.

We can easily pivot and vastly change a project of ours. We can change as we learn more about our users.

Big companies can take months/years for even the smallest of pivots.
3) Before you find a product market you can pivot your project as many times as necessary until you find something that works.

Then you only have one thing to do: scale, scale, scale.
4) Be obsessed with the little details.
- listen to every single person who uses your product
- reply to every single person who emails you about your product
- ask them what they like and do not like
- iterate your product, make changes, pivot if necessary
5) Paul Graham's (@paulg) name came up with a feeling of great admiration! Naturally! It was Paul who said:

In the early stages of a company just;
- write code
- talk/sell to customers to stress test your idea

Nothing else.
6) A great reason somebody will use your product is that it makes them more productive.

You gain great leverage in making products that make many many people better at their jobs.

This is a vastly under appreciated market that needs to be addressed.
7) Don't spend a long time making a product without at least asking (or straight charging) users if they would pay.

Release as soon as possible. Get feedback. See if it works.
8) Some very enthusiastic users are far far better than a large number of users who kind of like the product or service.

Take your small very enthusiastic user base and keep making the product better for them.

More users will come naturally via word of mouth.
9) As soon as you have found something that your users love... scale like your life depended on it.

How do you scale? Marketing & Sales.

Don't try to do it all yourself. Get help. Outsource. Hire.

Smart people know when to delegate.
10) There has always been an opportunity looking at complicated software that's not listening to/satisfying its user's needs.

Look for big products with a lot of negative feedback.

Make something better. Even if just a small amount of those agitated users will love it.
11) One of the best methods of preparing yourself for the corporate world (when you're an undergrad) is by getting real-world experience.

- work experience
- projects
- failing
- learning
- trying again

I think that advice is useful for a lot of us!
12) Keep moving fast by working smarter not harder.
- spending your time wisely
- working with co-founders who you get on with very well
- sharing your ideas and getting feedback
- slowly but surely learning more about what works and what does not work
13) John stays motivated and is full of energy to work in the morning because there are so many exciting problems to solve.

He loves hearing that people use his products and that they are really helpful.

Hearing that peoples lives are easier because of Stripe.
14) Courtland finds it much easier to stay motivated when somebody is holding you accountable for your work.

A weekly mailing list.

A product that needs updating.

When somebody depends on you to work, you will be much more likely to complete that work.

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Makers Up
Makers Up
@makersup
💪 And we're down to the last 48 hours until the biggest live-streamed startup event hosted by @thepatwalls & @shipstreams kicks off!

With this, let's get motivated with some curated readings & posts by fellow #24hrstartup participants & indie makers. Check them out below!

✍️ Andrew Parrish wrote - "Why I'm Participating in the 24 Hour Startup Challenge".

@makersup's takeaway - Makers love possibilities, the joy of building. Any aspiring maker should experience the end of lurking on forums & reading @wip's to-dos.

Read:

👩‍💻 @anthilemoon created a list of @women_make_ members participating in the #24hrstartup challenge. Do let her know if she missed anyone!

More at: https://t.co/zYKVZEq8aq


😺 We can't forget one of the key platforms in shipping indie, can we, @ProductHunt?

Check out @ProductHunt's guide to launching at: https://t.co/VB6WgGx6sa.

In addition, it would be wise to prepare for the launch. Fine tune your assets and post at

🚢 Well, we definitely can't leave out the man behind all of this, @thepatwalls!

Launching isn't easy, but know what you'll be facing even before coding. Check out @thepatwalls' "words of shipping" at:
STARTUPS
Patrick McKenzie
Patrick McKenzie
@patio11
There are a *lot* of software shops in the world that would far rather have one more technical dependency than they'd like to pay for one of their 20 engineers to become the company's SPOF expert on the joys of e.g. HTTP file uploads, CSV parsing bugs, PDF generation, etc.


Every year at MicroConf I get surprised-not-surprised by the number of people I meet who are running "Does one thing reasonably well, ranks well for it, pulls down a full-time dev salary" out of a fun side project which obviates a frequent 1~5 engineer-day sprint horizontally.

"Who is the prototypical client here?"

A consulting shop delivering a $X00k engagement for an internal system, a SaaS company doing something custom for a large client or internally facing or deeply non-core to their business, etc.

(I feel like many of these businesses are good answers to the "how would you monetize OSS to make it sustainable?" fashion, since they often wrap a core OSS offering in the assorted infrastructure which makes it easily consumable.)

"But don't the customers get subscription fatigue?"

I think subscription fatigue is far more reported by people who are embarrassed to charge money for software than it is experienced by for-profit businesses, who don't seem to have gotten pay-biweekly-for-services fatigue.
STARTUPS
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Andrew Chen
Andrew Chen
@andrewchen
👇Thread.

Published a new essay: The red flags and magic numbers that investors look for in your startup’s metrics – 80 slide deck included!


This was a deck that I created on my (longish) interview process with @a16z. It was a long path, starting with meeting folks at the firm 10 years ago. But the purpose of the deck was to explain how I would use my superpower in an investing context

Here's what I explain in the deck. As investors (whether angel or VC) we're often confronted with an up-and-to-the-right graph. Is it going to go up? Or down?


One solution to forecast these growth curves is the Growth Accounting Framework, where you add up New+Reactivated and subtract churned users. In each time period that gives you the difference in monthly actives.


The problem with this is that it's a lagging metric, not a leading one. We need to go one level deeper and look at the underlying loops that drive these numbers, to understand the quality.
STARTUPS
Sharath \U0001f4e3
Sharath 📣
@5harath
From day 1, I intended to build @shoutoutso_ in public, and part of it is to be transparent with numbers, talk openly about our highs and lows, and share lessons as we grow!

I have been doing individual posts on numbers every week so wanted to one big thread with all updates 👇🏽

Week


Week


Week


Week
STARTUPS
Gagan Biyani
Gagan Biyani
@gaganbiyani
Nobody talks about failure in Silicon Valley, yet 90% of startups fail.

Why?

3 yrs ago, @neerajberry and I shut down @Sprig, which raised $60M from @GreylockVC + @socialcapital & grew to $20m revenue.

Then, it all fell apart.

For an honest story about failure,

**Read on**

In 2013, I was @lyft, envious of how fast it was growing!

What about @lyft for food?

We looked @Postmates + thought:
- the food arrived sloppy / restaurants don't care about delivery
- it took forever (1hr)
- too expensive

We struggled through product iterations until we found "magic":

3 taps and $15 for a healthy meal delivered in 15 min

To make it possible, we had to run the restaurant ourselves; it would be expensive but worth it

We recruited @n8keller, Morgan Springer + @mattkent as founders

We launched and had immediate success. The buzz was unbelievable. Within months we were on track to do $1M revenue/year.

Our Series A was a hot round. I did 4 partner meetings on the same day. Raised $10M.

Great investors, great team, off to the races - @omal and @simonrothman

2 challenges arose:

1) Govt. SF health + planning made our lives hell. They didn't like our innovations. We had to bribe officials ("lobbying").

2) Gross Margins (GM). As we grew, our burn rate grew too. We were losing money on every meal. If only we could get to critical mass.
STARTUPS

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