Published on March 19, 2014
© Andreas Bauer & Julian Hall
© Andreas Bauer & Julian Hall 2
“I’m excited to announce that we’ve agreed to acquire WhatsApp and that their entire team will be joining us at Facebook.” Mark Zuckerberg, February 19 at 2:16pm near PaloAlto, CA, United States www.facebook.com/zuck/posts/10101272463589561 “WhatsApp is well worth $19 billion” CNN Opinion: By Michael Wolf, February 24, 2014 -‐-‐ Updated 1924 GMT ediYon.cnn.com/2014/02/21/opinion/wolf-‐facebook-‐whatsapp/ WHAT MAKES WHATSAPP SO VALUABLE IN OUR OPINION? 1. A popular and easy-‐to-‐use product 2. A large market and user base (over 450 million) 3. A well funded company 4. An outstanding team, with Jan Koum now joining Facebook’s Board WHAT CAN STARTUPS LEARN FROM THIS SUCCESS STORY? ★ EXCEL IN ALL OF THESE FOUR ASPECTS… 50 TIPS © Andreas Bauer & Julian Hall 3
1. Build it and they will come… is a no no 2. Build only products that solve real customer problems or saYsfy real customer desires 3. Don’t underesYmate barriers to adopYon & barriers to entry in the marketplace… where the rubber meets the road 4. Achieve ﬁrst-‐mover advantage and diﬀerenYate… but how 5. Tame the Yger… miYgate technology risk and market risk 6. Pivot the product to stay alive 7. Make product innovaYon a reality 8. Outsource your development, …or don’t… it depends 9. Don’t give away equity for technology, …or should you? It depends… again 10. Go mobile from day one 11. Scale the business as soon and fast as you can 12. Protect your IP 4 © Andreas Bauer & Julian Hall
© Andreas Bauer & Julian Hall 5
13. MiYgate the market risk to avoid the involuntary exit (going bust) 14. Pitch your idea and get your message across 15. Target your audience to create share of mind and convert it into conYnuous sales 16. Control your customer acquisiYon cost 17. Deﬁne and develop your routes to market wisely 18. Learn how to sell to the corporate and SME market 19. Use SEO/SEM eﬀecYvely 20. Understand social media markeYng and use it to your beneﬁt 21. Make inbound, outbound and guerilla markeYng work 22. Use freemium models, …but only where they make sense 23. Up-‐sell as much as possible 24. Go and sell abroad, …but when and how © Andreas Bauer & Julian Hall 6
© Andreas Bauer & Julian Hall 7
25. Understand what investors are looking for 26. Learn how to get investment pre and post-‐revenue 27. Find the right investor(s) for you 28. Learn how to approach angel investors and VCs 29. Consider crowd funding 30. Develop your funding roadmap… know how much money you should ask for 31. Understand valuaYon… know how much equity to give away 32. Become investment ready 33. Prepare your investment pack 34. Prepare your pitch… and go pitching 35. Develop your business plan 36. Learn about metrics and apply them to your business © Andreas Bauer & Julian Hall 8
© Andreas Bauer & Julian Hall 9
37. Learn how to become a lean startup 38. Choose your CEO wisely 39. Build a team with the right balance of technical and business skills 40. Hire your CFO 41. Akract the best people to grow your team 42. Get non-‐execuYves and advisors on board 43. Pay your staﬀ and give them equity 44. Build a high-‐performing team 45. Don’t boil the ocean 46. Keep your team on track and get stuﬀ done 47. Lead from the front and lead from the back 48. Manage your company properly © Andreas Bauer & Julian Hall 10
© Andreas Bauer & Julian Hall
49. Read our book and learn from others by Andreas Bauer & Julian Hall available on Amazon see: www.TheIgniYonBook.com 50. Apply lessons learned and be successful!!! © Andreas Bauer & Julian Hall
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