down to whether a problem is solvable or not. Is there a stable outcome? Is there an end state? Can research and expertise provide us with answers? Is the situation predictable? Answer yes to these questions and you have a complicated problem. Answer no and you have a complex one. It comes down to the diﬀerence between building a community and building a building. Complex vs. Complicated – Chris Corrigan
to hire a marketing person / CEO / unicorn…” • Double-down on strengths • Outsource + work with pros • You’re still going to have to understand a little about a lot • Learn by doing – you’re going to get good at some of it
telephone were once considered new-fangled technology • Which parts of technology are you experimenting with in growing your business? • Marketing tools, payment systems, apps • What ROI are you seeing by ﬁguring out technology?
to handle numerous complicated devices in their lifetimes. The learning is not always easy, but once the complications are learned – if they are learned properly – it all becomes automatic. The thought of abandoning it and learning something else, of going through the process again, is terribly frightening.”
All businesses are not a candidate for venture investment • Big idea, big market, big growth, big outcomes • Venture investment is not the goal — building a sustainable business that lets you do what you want is
Vision and purpose that form core passion & “true north” for the company & team • You also need an execution plan: • What can you build and sell today? • Prove you can ship • Charge money so you don’t die in the short term
can be sent by email and make sense without you “live” talking about it • Market: who are the customers? what are their pains? • Solution: how are you solving the pain? have you developed novel technology or marketing channels? • Distribution: how do you think you will sell it to customers? • Team: why you, why now, why this?
is not very useful • “A 12 month budget is ﬁction. A 5 year plan is science ﬁction” • Hiring: who will be working on it full time, who do you need to hire? • Marketing: what marketing experiments will you run? • How many customers? Which methods of marketing work better than others? • What are the end goals? Customer adoption, revenue, building out product features
add customers, lose customers, and bill customers • Self serve: we do marketing, drive traﬃc to our website, and users sign up / trial / pay us • Enterprise: we phone a lot of people, have a lot of meetings, and spend 1 - 3 months+ to sign up a customer • In reality: trying lots of things to beg anyone to use your product, so at least you can get feedback