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But the thing I am most proud of about Rob is that he has taken a company with a uniquely talented founder & CTO – Nick Halstead – and managed to build a very tight working relationship with Nick where we drive world-class productdevelopment without having the usual founder / CEO conflicts.
This is one of my favorite startup presentations of all time by Mike Cassidy on going fast. Demonstrate that you can pull the trigger on things quickly — whether it be getting customers, hiring / firing employees, or productdevelopment. And convey this in your pitch.
If you don’t yet have a team yet, list the roles you need to hire for. If you don’t yet have a team yet, list the roles you need to hire for. Another great way to test your idea is to create a minimum viable product, or MVP. This is the simplest version of your product minus the frills and frosting. The business model.
Instead, we built a product first (that’s expensive!) and then started hunting around for the right target market (that’s usually the cheap part of productdevelopment). Do you have a plan for differentiating yourself from your competition? We neglected to do our market research. First, what’s market research?
Paid - if your product monetizes customers better than your competitors, you have the opportunity to use your lifetime value advantage to drive growth. In this model, you take some fraction of the lifetime value of each customer and plow that back into paid acquisition through SEM, banner ads, PR, affiliates, etc.
The application of agile development methodologies which dramatically reduce waste and unlock creativity in productdevelopment. See Customer Development Engineering for my first stab at articulating the theory involved) Ferocious customer-centric rapid iteration, as exemplified by the Customer Development process.
The more work youve sunk into a product or vision, the harder it is to let it go. As the CTO/VP Engineering, I was the worst offender. Excellent analysis of "evolution vs. re-volution" and differentiation of team roles. I'm glad there's a 'name' for this part of the process Eric. Great post Eric.
Smart teams understand quickly that all three skills are essential - if you can't recognize the need, you won't be able to hire for it or value it. Distribution/sales guy-Has an awesome understanding of the industry and product and can sell the vision and problem you are solving to investors, users, and potential partners. (he
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