From Developer to Startup CEO: Things I've Learned on the Journey (CEE MVP Community Open Days 2016)
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Alan Mendelevič shares insights from his journey transitioning from a developer to a startup CEO, highlighting his experiences in founding AdDuplex and participating in startup accelerators. He emphasizes the importance of leveraging technical skills, networking, and understanding funding dynamics in the entrepreneurial process. Mendelevič encourages aspiring entrepreneurs to engage with their ideas regularly and to be mindful of building relationships, which can lead to business opportunities.
From Developer to Startup CEO: Things I've Learned on the Journey (CEE MVP Community Open Days 2016)
- 2. From Developer to Startup CEO Things I’ve learned on the journey. Alan Mendelevič @ailon
- 3. A little bit of history…
- 4. About me… as a developer • Started on a ZX Spectrum in late 80s • Graduated from Vilnius University with BSCS in 1997 • Developed in everything from Pascal to VB to C++ to PHP, but mostly C# • Was an expert in JavaScript before it was hip (in 2002-2004), but lost the edge later on
- 5. About me… as a part-time entrepreneur • Developed my first “product” (a game for ZX Spectrum) as a teenager. Stolen by a “friend”. • Had a developer article directory site called ArticleCentral.com (1999-2002). Sold for not much. • Created SPAW Editor (one of the first and most popular web WYSIWYG HTML editors) (2003- 2008). Didn’t go all-in and lost • Led .NET branch of amCharts (2008-2011). Didn’t get near the traction of the Flash (now JavaScript) branch.
- 6. About me… as AdDuplex CEO • Launched AdDuplex (the product) in January 2011 • Established UAB AdDuplex (the company) in November 2011 • Participated in Startup Sauna accelerator in Helsinki, Finland (Spring 2012) • Participated in various startup events (Startup Sauna Silicon Valley trip, Startup Lithuania Roadshow, TechCrunch Disrupt Berlin, DLD Tel Aviv, etc.) • Raised seed funding (€400,000) in 2013
- 7. What is AdDuplex? Our mission is helping indie developers achieve success
- 8. Developer success factors Marketing/User acquisition Monetization
- 9. Empowering developers to help each other grow. • free advertising for your apps • utilize 100% of your ad space • 10,000+ apps, more than 1 billion ad impressions a month www.adduplex.com The largest cross-promotion network for Windows Phone and Windows Store apps
- 10. NEW. RISING. BEST. Expose your Windows app or game to the widest community of Windows 10 users and enthusiasts. If an app or game release is not on AppRaisin – it didn't happen. http://appraisin.com
- 11. Crowdsource ideas for new features CrowdSource.CrowdFund.CrowdMarket Let your loyal fans help you grow your business. Crowdfund the development of these ideas Crowd-promote their availability A P P S T R E TC H . C O M
- 13. Developer’s Work Cycle Task Deliverables Money Employee/Contract developer Task Deliverables Money Entrepreneur developer SALE SALE
- 14. As a technical person you have a huge advantage over wanterpreneurs
- 15. IMHO FTE-to-entrepreneur is easier than freelancer-to-entrepreneur
- 16. Having passive income source(s) is the best Recommended reading: The 4-Hour Workweek by Tim Ferris
- 17. You will have to build (and probably fund) a prototype or, preferably, an MVP yourself
- 18. Release date is a feature • Your runway is limited • You are probably not the only one with a similar idea
- 19. Use what you know.
- 21. Implementation on crutches Refactoring Perfect implementation time W1 W2 The cost of opportunity Cx Cy Cz Opportunity Cost
- 22. No one cares how clean your code is
- 23. Getting ideas and inspiration The Daily Practice “Every day I write down ideas. I write down so many ideas that it hurts my head to come up with one more. Then I try to write down five more. … The “idea muscle” atrophies within days if you don’t use it. Just like walking. If you don’t use your legs for a week, they atrophy. You need to exercise the idea muscle. It takes about 3-6 months to build up once it atrophies. Trust me on this.” http://www.jamesaltucher.com/2011/02/how-to-be-the-luckiest-guy-on-the-planet-in-4-easy-steps/
- 25. Recommended reading The Lean Startup by Eric Ries Zero to One by Peter Thiel & VS
- 27. The Sad Truth: You will have to talk to people
- 28. I’m an introvert. What about you?
- 29. Some networking tricks for introverts
- 30. The hardest trick: start way before you actually need it
- 31. “Facebook is the people you went to high school with. Twitter is the people you wish you went to high school with.” probably by Adrian Parsons @adrianparsons Software Engineer @etsy. Hacker. Optimist. https://twitter.com/adrianparsons/status/12919404808 Twitter
- 32. Conferences and other events
- 33. Know the reason you are going there Hint: it’s not for the content
- 34. Create a list of people you want to meet there. Leave happy if you’ve talked to 30%-50%.
- 35. Engage them on Twitter beforehand Gives you a very easy “ice breaker” when you meet in person
- 36. Never eat alone
- 37. Always wear a Whatzit Leil Lowndes How to Talk to Anyone
- 38. “Dress code” • Wear company branded apparel • Add your Twitter handle
- 39. Recommended reading • Networking for People Who Hate Networking: A Field Guide for Introverts, the Overwhelmed, and the Underconnected by Devora Zack • Quiet: The Power of Introverts in a World That Can't Stop Talking by Susan Cain • How to Talk to Anyone: 92 Little Tricks for Big Success in Relationships by Leil Lowndes
- 41. Serendipity* A lot of our business deals came out of getting to know someone at some event with no specific agenda set in advance.
- 42. *Be careful not to become a conference ho Mark Suster
- 44. “Stage pitch” is very different from speaking at conferences
- 45. The most important public speaking advice I ever got Find a memory when you felt really appreciated by someone (preferably not your family). Think about it every time before going on stage.
- 46. Startup Accelerators are a good way for techies to get a business crash course Make sure to understand what you are getting into, though.
- 48. Do you really need or want it? Recommended reading: Start Small, Stay Small: A Developer's Guide to Launching a Startup by Rob Walling
- 49. No one will fund your PowerPoint deck
- 50. Fundraising takes a while Maybe you should spend that time on your product instead?
- 51. The best time to raise money is when you don’t need it
- 52. Cash constraints are good for you
- 53. Once you get funded you get a boss… again.
- 54. “Invest in Lines, Not Dots” Mark Suster GP at Upfront Ventures
- 55. Know how much money you want to raise
- 56. Know how you are going to spend it
- 57. Know how you are going to make money
- 58. Look for your first investment close to home Or a place you are willing to relocate to
- 59. Get a good lawyer, but do your homework Understand industry jargon and “standard” terms
- 60. Must-read: “Venture Deals” by Brad Feld and Jason Mendelson
- 61. Hiring: the other side of the table
- 62. Don’t hire until you have to
- 63. Once you get to a team of ~5, your next hire should be an office manager. Otherwise you’ll become one.
- 64. Hire for culture fit more than competency
- 65. IMHO Stock options don’t really work in our neck of the woods Show me the money!
- 66. One more use for your network
- 67. Sponsor and attend local user groups, meetups, etc.
- 68. Get a Premium LinkedIn account
- 69. Recommended reading Who: The A Method for Hiring by Geoff Smart and Randy Street.
- 70. So, do you still want to launch a startup?
- 71. Building your own company is hard, but fun and rewarding. Even if you don’t make a billion in the end.