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Lecture 1 Sam PDF

The document discusses the key steps to starting a startup: developing an idea, building a product, assembling a team, and executing. It emphasizes that the idea comes first, but the product is most important - it should solve users' needs and be something they love. The founder advises talking to users directly to get feedback on the product and what would make them recommend it. Metrics like growth in registrations, active users, and retention should be the focus over just revenue. Successful startups require getting all four steps - idea, product, team, and execution - right.

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Wesley Lima Alves
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112 views19 pages

Lecture 1 Sam PDF

The document discusses the key steps to starting a startup: developing an idea, building a product, assembling a team, and executing. It emphasizes that the idea comes first, but the product is most important - it should solve users' needs and be something they love. The founder advises talking to users directly to get feedback on the product and what would make them recommend it. Metrics like growth in registrations, active users, and retention should be the focus over just revenue. Successful startups require getting all four steps - idea, product, team, and execution - right.

Uploaded by

Wesley Lima Alves
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
Download as pdf or txt
Download as pdf or txt
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How to Start a Startup

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

SAM ALTMAN
President, Y Combinator
@sama
sam@ycombinator.com
1. Idea 2. Product

3. Team 4. Execution
1. Idea

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


The Idea comes
first
1. Idea 2. Product 3. Team 4. Execution
The company
should feel like
an important
mission.

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


Seems like a bad idea

STARTUP

This is a good idea

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


?
Why now

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


While you are a student:

!  Think about new ideas

!  Meet potential cofounders

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


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
2. Product

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


Great Idea

Great Product

Great Company

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


!  Build something users love

!  Talk to users

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


#Users

Intensity of like

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


1. Idea 2. Product 3. Team 4. Execution
Great products win.
Make something users love.

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


Fanatical #1

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


Get users manually.

1. Idea 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
Product
to users
Decisions

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


Metrics: Focus on growth

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

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

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