Silicon Valley Entrepreneur Summary 57 pioneering experience: product first

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RETHINKDB founder Slava Akmachet (Slava Akhmechet), the San Francisco Cloud Computing Database services company, published an article summarizing 57 entrepreneurial experiences involving teamwork, finance, marketing, product, marketing, sales, product development, corporate governance, Personal Status, etc. 9 aspects.

The following is the summary of the Akmachet 57 entrepreneurial experience:

Those talented and experienced people have written a lot of entrepreneurial experience and I want to add some more. I have summed up these experiences with the hardships of the last four years. If you are going to start a business, hope your road is flat.

Team Building

1, if your team of 2 to 4 people can not be in 6 months to 1 years to achieve profitability, then there must be a problem. Unless you choose not to make a profit, this must be your choice, not the market reason.

2. Distribute shares evenly among the founders.

3. There is always an option exercise plan.

4. Make most decisions on the basis of consensus, but the only CEO has the final decision. This is clear from the first day.

5, your authority as CEO is won, because you are from scratch. If it wins, the authority will grow and vice versa. Don't try to abuse the authority you didn't win.

6. Morale is real and can be permanent. If you don't win for a long time, your investors, your employees, your family, and yourself will lose confidence. Work hard and don't get caught up in this situation.

7, carefully select the original team members. Everyone should be happy to work together, with at least one business-related skill, highly efficient and pragmatic. Everyone should have a product awareness, in the product and the company has a common concept.

8. The standard you use is the one you accept. Choose a small number of the most important and non-negotiable rules for you, and implement them without any slack.

9. Dismiss those who are difficult to work with, inefficient, unreliable, product conscious and not practical. Quickly dismissed.

10, some rub is good, but rub too much is very deadly. Dismiss people who make too much friction. Good work + bad habit = You are fired.

Fund Raising

11, if in a certain round of financing you have to give up the company 15% of the control, then the company must be in a certain aspect of the problem. This can be salvaged, but not ideal.

12. If you have not earned the respect of people, it is much easier to rely on attractive financing than to rely on storytelling. If you have to rely on storytelling to finance, but do not have your own reputation, then there must be a problem.

13, the financing of their own negotiations as a minimum viable products, launched to go after each meeting are repeated.

14. Most of the investors ' advice helps the company to optimize and develop, and listen humbly.

15, most of the investor's advice does not help to develop a magic product, no one can assist you to develop magical products, this is your own business.

16, do not linger in the financing process. When things are done, move on.

Market aspects

17, the best products must not be produced in a vacuum, the reason for their success is that it wins in a certain area of all other products. Find your own field and do the best. If there is no such an area, there must be a problem.

18. Invest in a problem that can be immediately effective and has great development potential. If it does not help to improve the living conditions of a large number of people, it is not worth doing. Google, for example, fills a huge gap in people's daily lives, benefiting billions of of people. It changes the way people behave and how they perceive the world around them. Try to make the product of this size.

19, just start to set up a correct idea. From experience, you can only move in this time.

20. To know that the market is changing rapidly, many teams will almost simultaneously come up with a valuable concept.

21. Accept new ideas, as this is the result of other social or technological changes. Get back on track early, but make sure the technology is enough to make the product better.

22. If there is an idea that has not worked in the past, and no social or technological change makes it feasible and effective now, it will fail. (This is yet another market hypothesis, and if an idea can achieve results, it has already been implemented.) It is worth trying again only after the situation has changed. )

23, tell the market, do not accept your products means that the loss of aircraft. adhere to their own ideals and beliefs, but respect for objective trends. If you believe the world needs poetry, sell your hip-hop songs and keep the poetry collection.

Products

24, product concept means everything, as soon as possible to grasp this concept. Being good at product technology does not mean good at product management.

25. Do not produce what is already there. Consumers will not buy it because it is yours.

26. Make sure that you know why users have no choice but to turn to your products and why they will not return to other products. Don't trust yourself too much and test your assumptions as much as possible.

27, to each product function to ask two questions. Will people be buying products because of this function? Will people not buy it because of the lack of it? If you can't answer the question later, you can't answer the question. If the answer to the two questions is no, do not develop this function.

28, the production of a although there is insufficient, people are willing to buy things, and do not produce no deficiencies so people should go to buy things. The former is pleasing and pays the purchase, the latter not pleasing.

29, pay attention to the "chicken" and "egg" product relationship to ensure that their products can be used immediately.

30, pay attention to those who may buy your products, and those who only comment on the difference between the people. Pay more attention to the former and ignore the latter.

Marketing aspects

31. Product first. If people like your product, the smallest launch will be a concern. If people don't like products, then big marketing will not help.

32, in the product built-in marketing. If possible, create YouTube effects (people are constantly posting interesting content on your platform) and Facebook effects (if users use the product, their friends will use it).

33, look at the movie "Sushi God", in this way to do marketing. Choose a small number of tasks, keep working, and make new progress every day.

34. Evaluate the efficiency on a regular basis. Undo the invalid practice and redouble the effective approach.

35, do not guess, to visit.

36, facing your users to marketing. Attracting the attention of people who don't buy your product is actually a waste of time and money.

37, if your competitor is not sarcastic, you should not say. For example, your competitor cannot say that your product is slow, so praising your product quickly is ineffective marketing. On the other hand, your competitor says your software is geared toward some programmers, so you say your software is geared toward another programmer, which is good marketing. Apple can not follow this convention, but you can't.

38, not to your users or competitors use the arrogant tone, this does not help you sell products, but will damage your good reputation.

39. Don't shrug off criticism. Instead, use criticism to improve your product. If you take its critical advice seriously, the harshest critics tend to be the strongest supporters.

Sales

40, sales can change everything. If the product sells well, you can make up for it even if you mess up something else.

41. Product first. For a product that everyone wants, it's easy to sell and rewarding, but selling a product that no one needs is a painful digital game.

42, if the product is between two extremes, so relentless pursuit of this digital game. Even if sales are bad, you will gain valuable experience.

43, committed to improve efficiency. Spending time with a user who is unlikely to buy your product is nothing more than a job.

44, the introduction is easier than the output. If possible, produce a product that the customer expresses to you and is willing to pay for.

Product development

45. The speed of development is very important.

46, don't complicate, the simpler the product, the more likely you are to ship, the greater the likelihood that you will fix the problem quickly.

47, choose a pay 20% can get 80% of the implementation of the return.

48, as long as possible, the choice of off-the-shelf parts.

49, the rapid development rate to ensure that this rate will not be more than a week or weeks.

50. Focus on long-term projects. If you can't keep the rate, do not develop.

51, pay attention to long-term changes. If you can't change the rate, don't do it.

52. If you have to do something that does not conform to the product rate, set as many structure and evaluation rounds as possible in this process.

53, work on the wrong things for one months, the equivalent of one months did not work.

Company management

54, do not spend too much time to choose office buildings, accountants, clerks, doorman, furniture, trusteeship tools. Believe that the conditions are good enough, do not hesitate to move forward.

55, take time to find a good, not very expensive lawyer. This is necessary.

Personal Status

56. Try your best to put your own label on your startup (you may fail, but try it). Do your best every day and rest. So after the dust settles, you will be proud of your choices, no matter what the outcome.

57, every once in a while, leave once. Go hiking, visit another city family, dance, play chess, play tennis, anything. You will make you more efficient and make people around you feel happy.