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SAM ALTMAN President, Y Combinator @sama [email protected] WELCOME, AND IDEAS, PRODUCTS, TEAMS AND EXECUTION PART I How to Start a Startup
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Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Apr 21, 2017

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Page 1: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

SAM ALTMAN President, Y Combinator

@sama

[email protected]

WELCOME, AND IDEAS, PRODUCTS, TEAMS AND EXECUTION PART I

How to Start a Startup

Page 2: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

1. Idea 2. Product

3. Team 4. Execution

Page 3: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

1. Idea

1. Idea 2. Product 3. Team 4. Execution

Page 4: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

1. Idea 2. Product 3. Team 4. Execution

The Idea comes first

Page 5: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

The company should feel like an important mission.

1. Idea 2. Product 3. Team 4. Execution

Page 6: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Seems like a bad idea

This is a good idea

STARTUP

1. Idea 2. Product 3. Team 4. Execution

Page 7: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Why now ?

1. Idea 2. Product 3. Team 4. Execution

Page 8: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

!  Think about new ideas !  Meet potential cofounders

While you are a student:

1. Idea 2. Product 3. Team 4. Execution

Page 9: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Most people think first of what they want to express or make, then find the audience for their idea.

You must work the opposite angle, thinking first of the public.

You need to keep your focus on their changing needs, the trends

that are washing through them. Beginning with their demand, you create the appropriate supply.

50 Cent

1. Idea 2. Product 3. Team 4. Execution

Page 10: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

1. Idea 2. Product 3. Team 4. Execution

2. Product

Page 11: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Great Idea

Great Product

Great Company

2. Product 3. Team 4. Execution 1. Idea

Page 12: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

!  Build something users love !  Talk to users

2. Product 3. Team 4. Execution 1. Idea

Page 13: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

2. Product 3. Team 4. Execution 1. Idea

Intensity of like

#U

sers

Page 14: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

2. Product 3. Team 4. Execution 1. Idea

Page 15: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Make something users love.

Great products win.

2. Product 3. Team 4. Execution 1. Idea

Page 16: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Fanatical

2. Product 3. Team 4. Execution

#1

1. Idea

Page 17: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

Get users manually.

2. Product 3. Team 4. Execution 1. Idea

Page 18: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

2. Product 3. Team 4. Execution

User feedback !  What do they like? !  What would they pay for? !  What would make them recommend it?

Show it to users

Product Decisions

1. Idea

Page 19: Y Combinator Startup Class #1 : Ideas, Products, Teams and Execution (Part 1)

!  Total registrations !  Active users !  Activity Levels !  Cohort Retention !  Revenue !  Net Promoter Score

2. Product 3. Team 4. Execution

Metrics: Focus on growth

1. Idea