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Andy Young // @andyy // andy@500.co
@andyy
How not toDrown
inStartup Advice
Andy Young // @andyy // andy@500.co
Hi, I’m Andy!@andyy
#fb
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Andy Young // @andyy // andy@500.co
Let’s talk about..
How Not to Drown inStartup Advice
Andy Young // @andyy // andy@500.co
Let’s talk about..
How Not to Drown inStartup Advice
Andy Young // @andyy // andy@500.co
What is advice, anyways?
Andy Young // @andyy // andy@500.co
Limited life experience+
Over-generalisation
Andy Young // @andyy // andy@500.co
Limited life experience+
Over-generalisation
- Paul Buchheit : creator of Gmail
Andy Young // @andyy // andy@500.co
Advice is our secret weapon
We can benefit from thelearnings of others
Andy Young // @andyy // andy@500.co
Blogs, books, tweets, slide decks, talks..
Some of my favourites:➔ BothSidesOfTheTable.com - Mark Suster’s blog
➔ Paul Graham’s essays➔ Marc Andreessen’s blog archives
➔ Dave McClure - Startup Metrics for Pirates➔ The Lean Startup - Eric Ries
There’s a lot of advice out there..
Andy Young // @andyy // andy@500.co
Generic advice..that you read in the blogs, books..
vs
Specific advice..about your situation, that you get from mentors,
advisors..
Andy Young // @andyy // andy@500.co
“All the Startup Advice You Read is Wrong- but you should read some anyway”
- Ev Williams: Co-founder of Medium, Twitterhttps://medium.com/on-startups/8ba2f1774789
Generic advice
Andy Young // @andyy // andy@500.co
Specific advice
Find yourself mentors & advisors
- People who have been there before(Un-)successful startup founders, business leaders..
- People who are travelling the same journeyFriends / fellow founders..
- People who have seen a lotInvestors..
Andy Young // @andyy // andy@500.co
Getting specific advice
DO: Reach out to people and ask for their advice / feedback
- Be specific- Be courteous
- Give a reason, suggest date(s)- Earn their respect
Andy Young // @andyy // andy@500.co
Advice is great!
but..
Andy Young // @andyy // andy@500.co
Too much advice?Analysis paralysis
Andy Young // @andyy // andy@500.co
Too much advice?Analysis paralysis
Andy Young // @andyy // andy@500.co
Too much advice?Analysis paralysis
The Entrepreneur’s Dilemma:Most advice is contradictory �
Andy Young // @andyy // andy@500.co
Too much advice?Analysis paralysis
Most contradictory advice is still valid
The Entrepreneur’s Dilemma:Most advice is contradictory �
Andy Young // @andyy // andy@500.co
“Have a clear vision, and stick with it”vs.
“Be prepared to change your idea / pivot”
Andy Young // @andyy // andy@500.co
“Get a lot of users,figure out monetisation later”
vs.“Make money from day 1”
Andy Young // @andyy // andy@500.co
“Raise more money than you need”vs.
“Only raise as much money as you need”
Andy Young // @andyy // andy@500.co
“Hire your friends”vs.
“Never hire your friends!”
Andy Young // @andyy // andy@500.co
Understanding & interpreting advice
Who’s giving it?
What’s their context?
What are they assuming?
Andy Young // @andyy // andy@500.co
“You should do X..”
Andy Young // @andyy // andy@500.co
Assuming Y..
“You should do X..”
Andy Young // @andyy // andy@500.co
“Raise more money than you need”vs.
“Only raise as much money as you need”
Andy Young // @andyy // andy@500.co
“Hire your friends”vs.
“Never hire your friends!”
Andy Young // @andyy // andy@500.co
Deciphering the clichés
Andy Young // @andyy // andy@500.co
“Focus”
Andy Young // @andyy // andy@500.co
“Be focused”
Andy Young // @andyy // andy@500.co
“Focus on core”
Andy Young // @andyy // andy@500.co
“The main thing is to keep the main thing
the main thing”
- Stephen Covey
Andy Young // @andyy // andy@500.co
“The main thing is to keep the main thing
the main thing”
¯\_(ツ)_/¯
Andy Young // @andyy // andy@500.co
“The main thing is to keep the main thing
the main thing”
- Stephen Covey
Andy Young // @andyy // andy@500.co
Focus, Level #1Say “no” to distractions
Andy Young // @andyy // andy@500.co
Focus, Level #2Cut things out;
narrow down your scope
Andy Young // @andyy // andy@500.co
Focus, Level #3“Minimum Viable Business”
Andy Young // @andyy // andy@500.co
“Minimum Viable Business”
1 product1 market
1 USP1 distribution channel
1 revenue stream
Andy Young // @andyy // andy@500.co
Focus, Level #4?Identify the 1-2 things you’re trying
to improve right now
Andy Young // @andyy // andy@500.co
Focus, Level #4?Identify the 1-2 things you’re trying
to improve right now
Andy Young // @andyy // andy@500.co
How to not drown
Andy Young // @andyy // andy@500.co
Seek advice
Understand the context / assumptions
Make strong choices
It’s your opportunity
Andy Young // @andyy // andy@500.co
“Avoid decision by indecision”
- Mark Suster bothsidesofthetable.com/2010/05/15/
avoid-decision-by-indecision/
Andy Young // @andyy // andy@500.co
“You’ll often hear conflicting advice about everything but ‘build a great product’
..this means you can go either way on much of the rest of it and it doesn’t really matter.”
- Sam Altman, Y Combinator http://blog.samaltman.com/startup-advice
Andy Young // @andyy // andy@500.co
Good luck!
Andy Young // @andyy // andy@500.co
References
“Avoid decision by indecision” - Mark Susterhttp://www.bothsidesofthetable.com/2010/05/15/avoid-decision-by-indecision/
“All the startup advice you read is wrong - but you should read some anyway”- Evan Williams
https://medium.com/on-startups/8ba2f1774789
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