Building Things Yourself

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BERGHS SCHOOL OF COMMUNICATION 1

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BERGHS SCHOOL OF COMMUNICATION BUILDING THINGS YOURSELF 2 OCTOBER 21 2014 — STOCKHOLM

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BERGHS SCHOOL OF COMMUNICATION (A PRODUCT, SERVICE, OR ANY KIND OF BUSINESS) 3

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BERGHS SCHOOL OF COMMUNICATION 4 INTERACTIVE COMMUNICATION,  ANDREAS ZECHER, INDEPENDENT ! OCTOBER 21 2014 — STOCKHOLM

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BERGHS SCHOOL OF COMMUNICATION 5 HELLO

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BERGHS SCHOOL OF COMMUNICATION 6 PROMOTER WEB SERVICE FOR GAME DEVELOPERS

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BERGHS SCHOOL OF COMMUNICATION 7 WHAT TO BUILD?

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BERGHS SCHOOL OF COMMUNICATION 8 WHAT TO BUILD? YOU ARE A DOMAIN EXPERT

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BERGHS SCHOOL OF COMMUNICATION 9 WHAT TO BUILD? WHAT PROBLEM DO YOU HAVE? HOW CAN IT BE SOLVED?

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BERGHS SCHOOL OF COMMUNICATION 10 WHAT TO BUILD? DO OTHER PEOPLE HAVE THE SAME PROBLEM?

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BERGHS SCHOOL OF COMMUNICATION 11 ANALYSE YOUR SKILL SET

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BERGHS SCHOOL OF COMMUNICATION 12 EXAMPLE: PROMOTER – SKILL SET NETWORKING DEVELOPMENT DESIGN

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BERGHS SCHOOL OF COMMUNICATION 13 EXAMPLE: PROMOTER – OUTSOURCED SKILLS BRANDING ACCOUNTING

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BERGHS SCHOOL OF COMMUNICATION 14 LET’S TALK ABOUT NUMBERS

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BERGHS SCHOOL OF COMMUNICATION 15 PROMOTER – CUSTOMERS 4000 ACCOUNTS 280 TOTAL CUSTOMERS 120 CURRENT CUSTOMERS

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BERGHS SCHOOL OF COMMUNICATION 16 PROMOTER – CONVERSION RATE (TRIAL TO PAID) 2.86%

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BERGHS SCHOOL OF COMMUNICATION 17 PROMOTER – REVENUE PER MONTH SINCE 2012 17678 SEK (HIGHEST) 334 SEK (LOWEST)

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BERGHS SCHOOL OF COMMUNICATION 18 PROMOTER – CUSTOMER LIFETIME VALUE 3388 SEK (HIGHEST) 678 SEK (AVERAGE) 73 SEK (LOWEST)

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BERGHS SCHOOL OF COMMUNICATION 19 PROMOTER – COST PER MONTH SERVER COST 1814 SEK TIME COST 22125 SEK

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BERGHS SCHOOL OF COMMUNICATION 20 THAT’S NOT ENOUGH TO PAY THE RENT

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BERGHS SCHOOL OF COMMUNICATION 21 STRATEGIES TO INCREASE REVENUE GET MORE PEOPLE TO KNOW ABOUT YOUR PRODUCT

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BERGHS SCHOOL OF COMMUNICATION 22 EXAMPLE: FESTIVAL CALENDAR

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BERGHS SCHOOL OF COMMUNICATION 23 STRATEGIES TO INCREASE REVENUE GET MORE PEOPLE TO SIGN UP FOR THE TRIAL

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BERGHS SCHOOL OF COMMUNICATION 24 EXAMPLE: A/B TEST HOMEPAGE TO SIGNUP PAGE “START TRACKING NOW” 4.17% (+23.91%) “START YOUR TRIAL” 3.36%

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BERGHS SCHOOL OF COMMUNICATION 25 STRATEGIES TO INCREASE REVENUE GET MORE PEOPLE TO BECOME PAYING CUSTOMERS

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BERGHS SCHOOL OF COMMUNICATION 26 EXAMPLE: PROMOTER CUSTOMERS PREFER STRIPE OVER PAYPAL 68% STRIPE 32% PAYPAL

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BERGHS SCHOOL OF COMMUNICATION 27 STRATEGIES TO INCREASE REVENUE RETAIN MORE CUSTOMERS

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BERGHS SCHOOL OF COMMUNICATION 28 EXAMPLE: CUSTOMER SUPPORT REPLY WITHIN 30 MINUTES (IF POSSIBLE)

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BERGHS SCHOOL OF COMMUNICATION 29 STRATEGIES TO INCREASE REVENUE PRICING

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BERGHS SCHOOL OF COMMUNICATION 30 EXAMPLE: PROMOTER PRICING TIERS SPLIT PLAN INTO SOLO AND STUDIO

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BERGHS SCHOOL OF COMMUNICATION 31 PRICING THE PRICE IS COMMUNICATING THE VALUE OF YOUR PRODUCT

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BERGHS SCHOOL OF COMMUNICATION 32 PRICING HOW DO YOUR CUSTOMERS THINK ABOUT THE PRICE?

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BERGHS SCHOOL OF COMMUNICATION 33 CHANGE THINGS THAT DON’T WORK

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BERGHS SCHOOL OF COMMUNICATION 34 EXAMPLE: REPLACE “FREE FOREVER” WITH 14-DAY TRIAL FULL SEARCH TAKES 2 HOURS (BEFORE) 15 MINUTES (AFTER)

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BERGHS SCHOOL OF COMMUNICATION 35 DEFINE A GOAL

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BERGHS SCHOOL OF COMMUNICATION 36 PATIENCE “OVERNIGHT SUCCESS TAKES YEARS”

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BERGHS SCHOOL OF COMMUNICATION 37 EXERCISE

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BERGHS SCHOOL OF COMMUNICATION 38 #1 DESCRIBE YOUR BUSINESS OR PRODUCT IN 3 SENTENCES OR LESS.

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BERGHS SCHOOL OF COMMUNICATION 39 #2 ASSUME YOU CAN BOOTSTRAP YOUR BUSINESS FOR 12 MONTHS. ESTIMATE HOW MUCH TIME YOU NEED TO LAUNCH YOUR PRODUCT AND MAKE REVENUE.

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BERGHS SCHOOL OF COMMUNICATION 40 #3 DEFINE A GOAL WHERE YOU WANT YOUR BUSINESS TO BE AFTER 12 MONTHS REGARDING YOUR MONTHLY PROFIT.

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BERGHS SCHOOL OF COMMUNICATION 41 CREATE A SCENARIO TO ESTIMATE YOUR MONTHLY PROFIT, INCLUDING: ! - NUMBER OF CUSTOMERS - MONTHLY REVENUE - MONTHLY COSTS (BOTH FIXED AND PER CUSTOMER/TRANSACTION)

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BERGHS SCHOOL OF COMMUNICATION 42 RECOMMENDED READING

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BERGHS SCHOOL OF COMMUNICATION 43 How to Price Your Products http://www.inc.com/guides/price-your-products.html ! Do Things That Don’t Scale http://paulgraham.com/ds.html ! Overnight Success Takes Years https://signalvnoise.com/posts/1624-overnight-success-takes-years ! Starting+Sustaining  http://startingandsustaining.com ! Start Small, Stay Small http://startupbook.net

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