Startup DNA: Speed Wins
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This is an excerpt from my talk "Startup DNA" (http://www.slideshare.net/brikis98/startup-dna) that just focuses on the "Speed Wins" concept. For more info, check out my book "Hello, Startup: A Programmer's Guide to Building Products, Technologies, and Teams" at http://www.hello-startup.net.
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Startup DNA: Speed Wins
- 1. Startup DNA: Speed Wins
- 2. Yevgeniy Brikman ybrikman.com | @brikis98 | brikis98.blogspot.com Worked at a couple successful startups: LinkedIn, TripAdvisor Built a lot of stuff: Enterprise products, hiring tools, scalable infrastructure, company culture, engineering branding, travel apps, VoIP software, innovation programs. About me
- 3. Wrote a book about what I learned www.hello-startup.net
- 4. These are my personal observations on a few traits that make startups successful.
- 5. Outline 1. Make excellent mistakes 2. Boyd's law 3. Speed Wins
- 6. Outline 1. Make excellent mistakes 2. Boyd's law 3. Speed Wins
- 7. "Make excellent mistakes" Dan Pink
- 8. The road to startup success is paved with failure
- 10. ● Answers ● Events ● Tweets ● Github ● Countless other experiments that never made it past a "dark launch"
- 11. ● Beacon ● Places ● Deals ● Credits ● Questions ● Lite ● Email
- 12. ● Wave ● Buzz ● Labs ● Health ● Knol ● Catalog ● Video ● Answers
- 13. The Pivot
- 14. ● Started as a way to share images in Game Neverending, a massively multiplayer online game. ● Rewritten to focus on photo sharing ● Acquired by Yahoo for $35m in 2005
- 15. ● Started out as burbn, an HTML5 mobile app for location-based social networking with photo sharing as one of many features ● Completely rewritten as a photo sharing focused native app ● Sold to facebook for $1bn in 2012
- 16. Twitter ● Started out as odeo, a site to create and share podcasts ● Struggling to stay alive, they held a hackathon. Jack Dorsey proposed the microblogging concept (originally, text message only). ● 500m users and $10b valuation in 2012
- 17. "Timing, perseverance, and ten years of trying will eventually make you look like an overnight success." Biz Stone
- 18. The Failure
- 19. Richard Branson ● Virgin Clothes failed ● Virgin Cola failed ● Virgin Vision failed ● Virgin Vodka failed ● Virgin Wine failed ● Virgin Jeans failed ● Virgin Cars failed ● ... and many others failed ● ... but several hundred others succeeded
- 20. "I have not failed. I have just found 10,000 ways that won’t work." Thomas Edison
- 21. Reid Hoffman ● His first startup was Socialnet.com: a social network for dating. ● Never heard of it? Exactly. ● Went on to become COO of Paypal, co- founder of LinkedIn, and one of the most successful angel investors of the last decade.
- 23. "If you're not failing every now and again, it's a sign you're not doing anything very innovative." Woody Allen
- 24. Note: these are not failures, but experiments. The goal of an experiment is learning.
- 25. Outline 1. Make excellent mistakes 2. Boyd's law 3. Speed Wins
- 26. "Speed of iteration beats quality of iteration." Boyd’s Law
- 27. Time Maturity Mature, stable Proof of concept Idea Product development (assumption)
- 28. Time Maturity Mature, stable Proof of concept Product development (reality) Idea
- 29. Time Maturity Mature, stable Proof of concept Product development (reality) Idea A very large portion of development time is trial and error
- 30. In a trial and error world, getting to errors faster is the key to success.
- 31. Time Maturity Mature, stable Proof of concept Product development (technology comparison) Dynamic/interpreted languages Static languages Idea
- 32. Time Maturity Mature, stable Proof of concept Product development (technology comparison) Idea Dynamic/interpreted languages Static languages Find error Find error
- 33. Time Maturity Mature, stable Proof of concept Product development (technology comparison) Idea Boyd’s Law
- 34. Time Maturity Mature, stable Proof of concept Product development (technology comparison) Idea Dynamic/interpreted languages Static languages Innovation Advantage
- 35. Time Maturity Mature, stable Proof of concept Product development (framework comparison) Idea RoR, Play Spring MVC, Servlets Innovation Advantage
- 36. Time Maturity Mature, stable Proof of concept Product development (methodology comparison) Idea Agile, Lean Waterfall Innovation Advantage
- 37. "If you're not embarrassed by your first release, you've launched too late." Reid Hoffman
- 38. Outline 1. Make excellent mistakes 2. Boyd's law 3. Speed Wins
- 40. Fundamental idea behind Agile and Lean: some of your assumptions wrong.
- 41. The problem is, you don’t know which ones.
- 42. Winners recognize their startup “vision” as a series of untested hypotheses in need of “customer proof.” Steve Blank
- 43. Time Maturity Mature, stable Proof of concept Product development (reality) Idea “customer proof”
- 44. “The only way to win is to learn faster than anyone else.” Eric Ries
- 45. Time Maturity Mature, stable Proof of concept Product development (technology comparison) Idea Faster learning
- 46. Speed wins strategy: design experiments that offer maximal learning at a minimal cost (e.g. MVP, customer development, A/B testing)
- 47. “The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.” Rupert Murdoch
- 48. Recap 1. Make excellent mistakes 2. Boyd's law 3. Speed Wins
- 49. For more info, check out my book www.hello-startup.net