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How to grow your startup to the next level
practical insights on running a startup
#dffestival@bernardjhuang
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who?
Bernard Huang
Distro team at 500 Startups
Co-founder at Mushi Labs
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#dffestival@bernardjhuang
which level?
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● fundamentals○ business model○ market size○ customer acquisition
your startup fundamentals
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grow to the next level● advice for growth○ ask for help○ always be hustling○ persistence
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your startup fundamentals
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fundamentals#businessmodel
#marketsize
#customeracquisition
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#businessmodel
How’re you going to make monies?
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“we’ll figure our business model out later...
NO, figure it out now”
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$20 (high end)
We take: 10%
$20*10% = $2
#businessmodel
Rough calculations are fine when starting.
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#marketsizeHow many paid coaching sessions do we need to stay alive?
$10k / $2 = 5,000 per month
And how many do we think there are total?
NOT THAT MANY!!!
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“either have a large # of people who will pay $”
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“or a few # of people who will pay $$$$”
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#customeracquisition
Where are you going to find your first customers?
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“validate the channel / tactic and close your first customers
ASAP.”
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#customeracquisition
Sleep better at night knowing people already bought.
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“morale and momentum are the lifeblood of your startup”
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grow to the next level #askforhelp
#alwaysbehustling
#persistence
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“no one initially cares about what you’re working on”
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#askforhelp
Your friends, family, and fools will be your first traction.
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“tell everyone you know what you’re working on”
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Your friends want to hear from you, take the initiative.
#askforhelp
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“a lot of asking will be a waste of time, but you never know”
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Don’t be a dick. Be respectful of everyone’s time & interests.
#askforhelp
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The world provides.
#askforhelp
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The world provides.
#askforhelp
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#alwaysbehustling
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#alwaysbehustling
Even if you try to tell the world, it’s going to be uphill.
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#alwaysbehustling
Don’t stop following up until someone says NO.
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#alwaysbehustling
Even if you piss some people off along the way :(
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“learn what works by learning what doesn’t work”
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(2007 - 2010) Online poker
(2010 - 2011) Dickey’s BBQ restaurant
(2011) snapsolve.com
(2011) zonted.com
(2011 - 2013) Mosec, Mobile Secretary
#persistence
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(2013) Food by People
(2013 - 2015) 42Floors?
(2015) GameRunners
(2015) BakeCalc
(2016 - ?) Mushi Labs?
#persistence
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“Keep on keeping on, startup is a journey”
#dffestival
@bernardjhuang