How to Start a Web-Based Startup (IMG version)
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The document provides guidance on starting a web-based startup. It discusses generating ideas by identifying problems, technological simplifications, and professional gripes. Ideas should be validated by determining if the problem is real, the market is large enough, and the product is achievable. Feedback should be gathered from potential customers as early as possible. The technology used should be something the founder is familiar with and has a large developer community. Revenue models should be implemented from the start. As the startup grows, considerations include hiring employees, raising capital, and eventually exiting via strategies like pivoting, selling, or IPO.
![Concept Statement
[product]
will provide [target customers]
with [desired benefits]
by [delivery method],
which is different than [competitors]
because [new product attributes].](https://image.slidesharecdn.com/howtostartaweb-basedstartupimgversion-120218022234-phpapp01/85/How-to-Start-a-Web-Based-Startup-IMG-version-24-320.jpg)
How to Start a Web-Based Startup (IMG version)
- 1. How to Start a Web-based Startup Isaac Sukin @IceCreamYou isukin@wharton.upenn.edu
- 2. Ego •5 years of webdev •20+ open-source projects •100+ consulting/freelance •Social communications •GSOC •35+ members •11 countries, 4 continents •49 awards •200,000+ downloads •Entrepreneurship & Innovation •Information Systems Management •CS minor & TA
- 3. Turntable.fm
- 5. How to Start a Web-based Startup
- 7. That’s what I’m good at •Low-cost •Fast time to MVP •Easier transition to mobile •Wider reach •Accessible
- 8. Almost none of this talk is specific to web-based startups
- 9. Bandwagons It’s a bubble It’s terrifying You’ll probably fail You probably won’t get rich
- 10. Fun Responsibility Autonomy Learning
- 11. Let’s do this
- 12. Idea Generation
- 13. Idea Generation • General areas of interest • Identify: – Problems – Technological simplifications – Workarounds • Identify solutions
- 14. Inspiration • Copy something else – Cross-application – Different approach • Professional gripes • Easy but tedious • Existing “solutions” • Invert cliches
- 15. Idea Validation
- 16. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 17. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 18. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 19. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 20. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 21. The Gauntlet 1. Is the problem real? 2. Is the target market segment big enough? 3. Is the product/service achievable for you to build? 4. Why you and not someone else? 5. Can competitors beat you if you prove this is a good idea? 6. Will people actually pay enough for this? 7. Is this actually what people want, or just another workaround? 8. Why now? Is the market and technology ready? 9. Is the up-front investment achievable? 10. Is the required time frame reasonable? 11. Are there other advantages to just trying it?
- 22. Is it a good idea? • Is the user the one giving you money? • Do you have experience with and interest in the topic? • Are you scratching your own itch? • Are there barriers to entry for future competitors?
- 23. Can it be bigger? • If it doesn’t pass the questions above, can you tweak it so it does? • Could you make more money if you changed the target audience? (Enterprise?) • Are you envisioning just the product or an entire new market infrastructure? • Is there a better niche for your idea?
- 24. Concept Statement [product] will provide [target customers] with [desired benefits] by [delivery method], which is different than [competitors] because [new product attributes].
- 25. Feedback • Show people what you mean, and ask if they would pay for it • Surveys are useful more for uncovering needs than confirming specific solutions • Research • Get people using a MVP ASAP • Fail fast, but don’t correct without data • Feedback is not the same as commitment
- 26. Build It
- 27. Design Ship Test Create
- 28. Technology No. Does it matter?
- 29. Well, maybe • Choose something that: – you know – you want to learn – is Open – has a large developer community – makes development fast – lets you get your data out easily later – aids maintainability
- 30. Being Technical • If you’re not technical: – Non-tech-dependent ideas – Outsourcing – Technical cofounder – Learn tech yourself • If you need to bring on technical help, recognize: – They have options – They might be doing most of the work
- 31. Sell it • Revenue model • Sell from day 1 • Gather data and use it to change business decisions • Build trust • Pretend to be big • Customers first
- 32. Hiring • Hire when it hurts • Don’t be greedy • Be considerate • Do your research • Hire engineers • Brag about numbers • Know what employees want • Ask the right questions • Look in the right places • Be direct and specific • Know what you’re looking for – Passion – Intelligence – Creativity – Communication – Pickiness
- 33. Raising Capital • Capital is an accelerant, raise for the right reasons – Extract liquidity – Push the limits of a product – Gain access to investors • Pick the right investors • You’ll get distracted • Doing it wrong is the biggest cause of failure
- 34. Exiting • Pivoting • Selling • IPO • Failing • No exit
- 35. Q&A / Workshop