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This is a talk I gave at Microsoft Startup Day. I took a retrospective after Speek raised our Series A round and talked about what I learned when I stepped back and thought about Speek's journey thus far.
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Startups 101Danny Boice, Co-Founder & President
Speek
About Me
Speek Co-Founder
Harvard & MIT
Exited First Startup in 2006
Georgetown Professor
Forbes Columnist@DannyBoice
About Speek
$6 Million In Venture Capital
2 Years Old
Hundreds Of Thousands Of Users
Millions Of Calls
Exponential Growth @SpeekAppwww.Speek.com
Speek Press
We just closed our Series A round and surpassed hundreds of
thousands of users. What did I learn in retrospect?
How Is A Startup Different?
Startups vs Small Businesses
A Restaurant, Barber Shop, bookstore, consulting company, etc. is NOT a startup!
Different DNA (Exponential Growth)
Staff Size Does Not Equate To Revenue
Technology (Web & Mobile) Not Physical Locations
The “Trough of Sorrows”
The Startup Lifecycle
Success Requires 3 Things
Product
Users
Money
Product
The Lean Startup Methodology 101
Most startups fail because they build something nobody wants
Startup success can be engineered
Validate your product ideas with quick experiments
For details see this great article by Grace Ng
To see it in action do a Lean Startup Machine weekend
Lean Steps
• Should I build my idea?
• Construct a hypothesis
• Identify the riskiest assumption
• Pick a test (Exploration, pitch, concierge)
• Agree on success criteria
• Run the experiment
• Analyze the results
• Repeat
Users
User Acquisition 101
Acquisition
Activation
Retention
Referral
Revenue
AARRR, cap'n!
Get to know your subscribers.
Tactics
Viral Loop
Word of Mouth
Freemium
Referrals
Content
SEO / Google / Bing
Social Media
Press
Paid / Ads
The Holy Grail
Money
Revenue 101
Common Revenue Models
Subscriptions
Freemium
Ads
Pay As You Go
License
Venture Capital
** Punting For Future Conversation **
Let’s Discuss!