How to start a startup
By Sam Altman
Idea + Product + Team + Execution
- 2-3 co-founders
Are they smart?
Do they get things done?
Do I want to spend a lot of time around them?
- give 10% to the first 10 employees
5 jobs of CEO in early stage
- set the vision
- raise money
- evangelize
- hire and manage
- make sure the entire compony executes
Where to start
- learn a lot, become an expert
- identify customer segments
- storyoard ideal user experience
What is v1?
- MVP (minimum viable product)
- simple product positioning
- this is not the hard part
v1 feature creep
- build fast, but optimise for now
- manual before automation
- temporary brokenness -> permanent paralysis
- beware of frankenstein
Find correct customers
- talk to users
- pre-sale
- low price trail
Viral Marketing
- payload
- conversion rate
- frequency
Tips
- make sth people want
- do your things well
- stay focused
- measure your growth
- know if you are default alive
- keep expenses low
- fundraising gets harder
- MVP (minimum viable product)
- start small and expand
- retention, keep your users