Ignition! How to Startup a Tech Startup -- 50 tips from the trenches

© Andreas Bauer & Julian Hall

© Andreas Bauer & Julian Hall 2

“I’m excited to announce that we’ve agreed to acquire WhatsApp and that their entire team will be joining us at Facebook.” Mark Zuckerberg, February 19 at 2:16pm near PaloAlto, CA, United States www.facebook.com/zuck/posts/10101272463589561

“WhatsApp is well worth $19 billion” CNN Opinion: By Michael Wolf, February 24, 2014 -‐-‐ Updated 1924 GMT ediYon.cnn.com/2014/02/21/opinion/wolf-‐facebook-‐whatsapp/

WHAT MAKES WHATSAPP SO VALUABLE IN OUR OPINION? 1.  A popular and easy-‐to-‐use product 2.  A large market and user base (over 450 million) 3.  A well funded company 4.  An outstanding team, with Jan Koum now joining Facebook’s Board

WHAT CAN STARTUPS LEARN FROM THIS SUCCESS STORY? ★ EXCEL IN ALL OF THESE FOUR ASPECTS… 50 TIPS


1.  Build it and they will come… is a no no 2.  Build only products that solve real customer problems

or saYsfy real customer desires 3.  Don’t underesYmate barriers to adopYon & barriers to entry

in the marketplace… where the rubber meets the road 4.  Achieve first-‐mover advantage and differenYate… but how 5.  Tame the Yger… miYgate technology risk and market risk 6.  Pivot the product to stay alive 7.  Make product innovaYon a reality 8.  Outsource your development, …or don’t… it depends 9.  Don’t give away equity for technology, …or should you?

It depends… again 10.  Go mobile from day one 11.  Scale the business as soon and fast as you can 12.  Protect your IP

4 © Andreas Bauer & Julian Hall


13.  MiYgate the market risk to avoid the involuntary exit (going bust)

14.  Pitch your idea and get your message across

15.  Target your audience to create share of mind and convert it into conYnuous sales

16.  Control your customer acquisiYon cost 17.  Define and develop your routes to market wisely

18.  Learn how to sell to the corporate and SME market

19.  Use SEO/SEM effecYvely

20.  Understand social media markeYng and use it to your benefit

21.  Make inbound, outbound and guerilla markeYng work 22.  Use freemium models, …but only where they make sense

23.  Up-‐sell as much as possible

24.  Go and sell abroad, …but when and how



25.  Understand what investors are looking for 26.  Learn how to get investment pre and post-‐revenue

27.  Find the right investor(s) for you 28.  Learn how to approach angel investors and VCs 29.  Consider crowd funding 30.  Develop your funding roadmap…

know how much money you should ask for

31.  Understand valuaYon… know how much equity to give away

32.  Become investment ready

33.  Prepare your investment pack 34.  Prepare your pitch… and go pitching 35.  Develop your business plan 36.  Learn about metrics and apply them to your business



37.  Learn how to become a lean startup

38.  Choose your CEO wisely 39.  Build a team with the right balance of technical

and business skills

40.  Hire your CFO 41.  Akract the best people to grow your team

42.  Get non-‐execuYves and advisors on board 43.  Pay your staff and give them equity

44.  Build a high-‐performing team

45.  Don’t boil the ocean 46.  Keep your team on track and get stuff done

47.  Lead from the front and lead from the back

48.  Manage your company properly



49.  Read our book and learn from others

by Andreas Bauer & Julian Hall

available on Amazon see: www.TheIgniYonBook.com

50.  Apply lessons learned and be successful!!!


Technology

Ignition! How to Startup a Tech Startup -- 50 tips from the trenches