the surprising reason your startup is failing by bayuk
TRANSCRIPT
The Surprising Reason Your Startup Is Failing
Lindsay Bayuk@lindsaybayuk
You’re not creating enough value.
Clarity.
What problem needs solving?
Why do they pay you?
Why do they stop paying you?
Discover, define and drivea 1:1 relationship
for the value customers need and what you provide.
Qualitativeand quantitative
“Customer-centric companies are 60% more profitable than their peers.”
- Deloitte & Touche
Get clearon the problem
Pick a market. Dig to discoverthe problem.
Connecta specific need
for a specific marketto a specific solution.
Traction validates a
market need.
Quantify your market and personas.
Product and marketingmust run in parallel.
"The number one reason that we pass on entrepreneurs we’d
otherwise like to back is focusing on product to the exclusion of
everything else. […] But the dark side is that it seems to give
entrepreneurs excuses not to do the hard stuff of sales and
marketing. Many entrepreneurs who build great products simply don’t have a good distribution
strategy."- M. Andreessen
Get clearon value
creation and capture
“Are your metrics aligned with your
customers?”- @davidcancel
Test onboardingto drive core value
metrics immediately.
“7 friends in 10 days”
“An email in week 1”
“2,000 messages”
Capture more leads. Give instant answers. Chat on-the-go.
Price and package your product according to your
value metric.
“Improving retention and monetization has
2-4x the impactof focusing on acquisition.”
- @patticus
Get clearon value loss
Quantifywhy your customers
cancel.
Use what you learn to fix the gaps in acquisition
and activation.
@bbalfour of Hubspot
@danwolch of Hubspot
Do this one thing.
Discover, define and drivea 1:1 relationship
for the value customers need and what you provide.
Clarityon customer value.
