The blog post I wish I had read when I started out as an entrepreneur

16 December 2010

This is the blog post I wish I had read when I started out as an entrepreneur. It would have saved me a LOT of time and money. They say you learn a lot from your mistakes. But frankly, in start-up world, there are so many possible mistakes available for the making, one needs to cut out the silly ones and focus on making the interesting mistakes. The mistakes you can really learn from.

For example, building your product from scratch, following an enormous spec, not using existing components and not prototyping are very silly mistakes. Making an incorrect assumption about customer needs which you can test cheaply is not.

I was going to make this a list (surprise surprise) but then realised people prefer stories. So here is my (rather dry) tale that incorporates the blog posts Alex and I have read over the last 3 years that have influenced us most; and to the extent that Alex and I are approaching Hidden Little Gems, our new Facebook app, in a completely new way. More about that in my next post. Now – back to the story.

A long while back someone told us to read “Don’t Launch” by Eric Ries. It essentially explained the critical difference between a product launch and a marketing launch. Don’t do your marketing launch until your product is good enough to retain the traffic the marketing launch attracts.

From then on we regularly read Eric Ries and discovered many of the other brilliant principles he advocates:
The Lean Startup

Agile development (developing in sprints and iterating)

Minimum Viable Product

Pivoting until you establish product/market fit

From one of those posts I discovered the inimitable Netscape Founder, Marc Andreessen, who also wrote a brilliant article on Product/ Market Fit.

Through Eric I also discovered Steve Blank. Steve is famous for Four Steps to Epiphany – his big Customer Development idea. Where Eric focuses ‘inside the building’ Steve focuses on ‘outside the building’ i.e. getting the founders talking to customers. Steve’s book “Four Steps to Epiphany” is quite dry and he actually recommends people read a summary some other chaps put together!

Along the way we have also been introduce to two other highly regarded guys who are essential cogs in this landscape – the metrics specialists – Dave McClure & Andrew Chen. Without them we wouldn’t know what our users were up to and what we needed to do to fix broken or weak processes.

Dave is the broader more colourful of the two (as an aside he recently wrote a controversial, but very insightful piece on the decline of the VC industry). He also won legitimate fame for his AARRR! Metrics for Startups presentation.

There is another person whose work I haven’t read enough of yet. Alexander Osterwalder (of Business Model Generation fame)  essentially is the glue that pulls Steve and Eric’s thinking together in a summary as follows.

“This startup search process is the business model / customer development / agile development solution stack. This solution stack proposes that entrepreneurs should first map their assumptions (their business model) and then test whether these hypotheses are accurate, outside in the field (customer development) and then use an iterative and incremental development methodology (agile development) to build the product. When founders discover their assumptions are wrong, as they inevitably will, the result isn’t a crisis, it’s a learning event called a pivot — and an opportunity to update the business model.”

That last paragraph magnificently combines the series of reasonably well thought out positions we had discovered along our journey and re-arranges them into a clear cut, crisp, exciting, scientific approach to startups.

It’s changed our lives, our thinking and the way we are approaching our Snagsta off-shoot start up which is coming soon: Hidden Little Gems.

More to follow on that!


We all live on the Snagsta Submarine

6 May 2010

It’s time we re-surfaced and explained ourselves…

Things have been a little quiet on the Snagsta front for some time now. Our anticipated rise to Facebook/Google challenger status hasn’t come to pass. Yet. Mostly, I like to blame Alex for this, but I guess the volcanic ash must shoulder some of the responsibility, and I’ve also started walking on the cracks in the pavement again which doesn”t help.

In truth it’s a combination of things:

1. The product has design flaws. The product does not match our idea the way it should. The site design has significant flaws – e.g. there’s no tagline explaining what it does!

2. We haven’t been good at iterating. By that I mean we haven’t converted all the really useful feedback into product design tweaks. There is a quote somewhere that mentions that all successful businesses have completely overhauled their business model or product at least 6 times before it worked. Contrary to popular belief, the iPod took forever to take off. You have to do this quickly and regularly. We haven’t. Eric Ries waxes lyrical on this stuff.

3. We’re working part-time. Living in London aint cheap. Alex got so hungry he started a restaurant chain – Rosa’s. Actually, his exceptionally talented wife is the brains and chef behind the Rosa’s (there is a very good chance Alex will bring you the bill though!).

I am sure there are more reasons – with start-ups there always are – but I just wanted to get in touch again to let you all know we’re still afloat, still tweaking things, quitely conspiring to find a way to turn periscope ripples into waves.

It’s not quite ‘Full Steam Ahead, Mr Barkley’ but at least our submarine hasn’t cost as much as Trident!


And the winner is…

19 May 2009

tagline

A little while ago we ran a tagline contest for Snagsta. Those of you that have popped by the site recently will have noticed (hopefully!) that our new tagline is ‘Your Favourite Things. Sorted.’

We’ve picked up a few valuable lessons getting there.

1. Say what you do

“Help’s you find the things Google can’t” didn’t really explain that Snagsta involved lists. It got us a lot of attention because it took on Google and because we put it out there with fun chalkboard presentation. What’s more important when you’re launching a new product is to get across what’s it’s about as quickly as possible.

2. Be careful of the big claim

Manage expections. Overpromising gets punished. Wikia’s crowdsourced search engine got a hammering when they first launched. They then admitted it would take years to fill in the gaps. But by then they’d lost the initiative. For the same reason we abandoned the search angle …and the challenge to Google. Google is our friend. The reality is that is how people find our stuff.

3. Be singleminded

We tried to be a list site and a recommendation engine at the same time. While you might think your business solves many problems simultaneously, as a marketing message this simply doesn’t work. In the milliseconds you have to make an impression… make exactly that. One impression. You can’t make three. Not when your audience has a twitter-esque attention span.

But enough pontificating, now the big moment, the winner is… Lesley, with her edgy play on words, or in this case, word: ‘Sorted’.

The finished article – ‘Your Favourite Things. Sorted.’ – is actually a combination of two of the suggestions in the comments: my brother Dave came up with ‘Your Favourite Things.’  But because Dave is helping us with other bits of the site and we don’t want red wine haze to affect his work we have decided to buy him a bottle of mineral water instead.

Lastly, thank you to all of you who suggested ideas. If we could buy you all bottles of wine we would!


Measuring Worth?

16 April 2009

measuring-tape-v2

A long time ago, a clever man once said, “A man’s worth is no greater than his ambitions” (the Roman Emperor Philosopher, Marcus Aurelius).

This may have been true in AD150 but is it still relevant in the always-on world of AD2009? These days a more common measure of worth is your connectivity. Reid Hoffman (LinkedIn co-founder) summed this up nicely when he said, “Your network your net worth.” One of Nassim Nicholas Taleb’s Top Life Tips is to, “go to more parties”. The express reason for this is to expand your network and expose yourself to more positive Black Swans.

A couple of weeks back we received an invite to a London networking event. The speakers were sold on the basis of the number of Twitter followers they had. This made me smile as it reminded me of recent conversations about the pressures and politics of maintaining relationships online.

Is the number of followers a true proxy for how valuable someone’s opinion is? I give you Britney Spears (903,274 followers).

My stepson Newton (694 Facebook friends) loves the fact he’s “more popular” than his younger brother Richard (389 Facebook friends). Phil (646 Facebook friends, 433 LinkedIn connections, 244 Twitter followers) and I (232 Facebook friends, 431 LinkedIn connections, 251 Twitter followers) regularly pull each other’s legs about how ‘popular’ we think we are.

To finish off this post, here’s a list of people we’ve either met or hear about regularly who are attached to the Internet scene here in London. We’ve used Twitter followers to help us measure their worth. Not sure old Marcus would agree with our methods but here you go anyway:

London’s 50 Most Networked Internet People by Twitter followers (As of 14th April 2009)


1. Jemima Kiss

10,568 followers

http://twitter.com/jemimakiss


2. Mike Butcher

8.888 followers

http://twitter.com/mikebutcher



3. Nick Donnelly

4,329 followers

http://www.twitter.com/nickdonnelly



4. Paul Walsh

4,094 follower

http://twitter.com/PaulWalsh



5. Paul Carr

3,551 followers

http://twitter.com/paulcarr



6. Amanda Rose

3,436 followers

http://twitter.com/amanda



7. Michelle Dewberry

3,360 followers

http://twitter.com/michelledewbs



8. Hermoine Way

2,431 followers

http://twitter.com/hermoineway



9. Sam Sethi

2,189 followers

http://www.twitter.com/ssethi



10. Nick Halstead

1,847 followers

http://twitter.com/nickhalstead



11. Michael Acton Smith

1,757 followers

http://twitter.com/acton



12. Richard Morross

1,246 followers

http://twitter.com/stewarttownsend



13. Mat Morrison

1,424 followers

http://www.twitter.com/mediaczar



14. Nathan McDonald

1,362 followers

http://twitter.com/nathanmcdonald



15. Joff Arnold

1,253 followers

http://twitter.com/toodlepip



16. Joshua March

1252 followers

http://twitter.com/joshuamarch



17. Stewart Townsend

1,246 followers

http://twitter.com/stewarttownsend



18. Basheera Khan

1,098 followers

http://twitter.com/bash



19. Andy McLoughlin

1,069 followers

http://twitter.com/robertloch



20. Benjamin Ellis

1,007 followers

http://twitter.com/BenjaminEllis



21. Sam Michel

1,004 followers

http://twitter.com/toodlepip



22. Ben Way

936 followers

http://twitter.com/benbpway



23. Sophie Cox

890 followers

http://twitter.com/sophiecox



24. David Terrar

883 followers

http://www.twitter.com/dt



25. Bindi Karia

803 followers

http://twitter.com/bindik



26. Alex Hoye

765 followers

http://www.twitter.com/alexhoye



27. Stephanie Robesky

756 followers

http://twitter.com/nerdgirl



28. Luke Razzell

736 followers

http://twitter.com/weaverluke



29. Bastian Lehmann

683 followers

http://www.twitter.com/basti



30. Elizabeth Varley

660 followers

http://twitter.com/evarley



31. Robert Loch

656 followers

http://twitter.com/robertloch



32. Sokratis Papafloratos

652 followers

http://twitter.com/sokratis



33. Nic Brisbourne

643 followers

http://twitter.com/pmross



34. Mario Cacciottolo

629 followers

http://twitter.com/mariosotm



35. Andrew Scott

626 followers

https://twitter.com/andrewjscott



36. Danvers Baillieu

610 followers

https://twitter.com/danversbaillieu



37. David Langer

602 followers

https://twitter.com/langer



38. James Cherkoff

600 followers

https://twitter.com/cherkoff



39. Nick Bell

593 followers

https://twitter.com/nickbelluk



40. Barry Vitou

557 followers

https://twitter.com/bazv



41. Steve Kennedy

499 followers

https://twitter.com/stevekennedyuk



42. Chris Osborne

422 followers

https://twitter.com/chrsoz



43. Emma Haslett

415 followers

http://www.twitter.com/emmahaslett



44. Fabio De Bernardi

399 followers

https://twitter.com/fabiodebe



45. Meriem Aissaoui

375 followers

http://twitter.com/mernas



46. Robin Klein

375 followers

http://twitter.com/robinklein



47. Dug Falby

349 followers

http://twitter.com/dug



48. Nikhil Shah

344 followers

http://www.twitter.com/nikhilshah



49. Stephanie Bouchet

328 followers

http://twitter.com/rougefrog



50. Paul Mackenzie Ross

325 followers

http://twitter.com/pmross

The master version of  this list appears on the Snagsta website. View it here to share it with your nearest and dearest.

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Digg!


Glastonbury for Geeks

25 March 2009

digmis South by South West (SXSW) is quite unlike anything I have ever experienced before. Here are ten things that made it unusual and amazing:

  1. The Parties
    Facebook, Google, Mashable, the list continues. Each trying to outdo the next with bands, breakdancers and DJs. With the exception of Pure Volume, perhaps…where the VIPs were separated from the regulars with chicken wire!
  2. Elevator Pitches
    Three times I left my hotel room and had already pitched Snagsta by the time I reached the lobby – now that’s an elevator pitch!
  3. Feedback
    People were only too happy to talk through your business and make constructive recommendations. Nothing quite like getting great ideas from people smarter than you that have done it all before.
  4. Content
    There was an astounding array of fascinating and relevant topics being presented and discussed on panels. At times there were up to 18 sessions on simultaneously! I only wish I could understand my notes…
  5. Serendipity
    If I learnt one thing it was say hello to EVERYBODY. One of the chaps in our party, Henry Mackintosh, helped out a panelist at the beginning of the conference he randomly met in the queue.  Bumping into her later on in the week, Henry mentioned the new service he’d just launched: twitterjobsearch. Minutes later she’d tweeted in to her 4000 followers. And then one of her followers re-tweeted it to his 30,000 followers.
  6. People
    SXSW is the place to finally meet all the people you’ve only ever ‘followed’, emailed or talked to on the phone. From Joe Shmo through to the Internet superheroes. I got to talk to Robert Scoble and a couple of the others and loved how genuine and approachable they all were. 
  7. Panels
    The debates were current and candid. With panelist challenging each other regularly and plenty of probing questions from the audience. And then there was the UnPanel (#kebab). A bunch of Brits high-jacked a room and set up an impromptu session called ‘Not Another Social Media Panel’. Less probing but more candid. Look at what happened here (though you kind of had to be there…)!
  8. iPhones
    I have never seen so many iPhones. 95% of the attendees had iPhones. Clear evidence that cutting edge mobile is currently only happening in one place.
  9. Twitter
    Despite occasionally having to endure inane micro commentary, I am now convinced of the value of this tool (if used with self-discipline!). It was used to track session topics, to contribute to panel discussions, to find people, to set up meetings, to broadcast party itineraries.
  10. BBQ
    You can’t come to Texas and not talk about BBQ. That and the rooftop bars are part of the quintessential Austin experience.

Oh…did I mention the parties already??

A big thank you to the companies that sponsored us and the people from the Digital Mission that helped organise the event.


Home alone

13 March 2009

home-alone1Phil and Alex have left me alone while they head off to see the world (insert sad face emoticon if you are that way inclined). Well actually they have left me to go show off Snagsta to the world, but it amounts to the same thing. Alex G is alone at the controls…

On the odd occasion that I am left at home alone, I like to do the things that I usually don’t have permission to do – move things around, throw stuff out or secretly store things in the spare room, etc. These rare moments of complete dictatorship invariably lead to punishment at a later stage, but that doesn’t stop me.

What then can I do at Snagsta, while the “cats” are away?

We’ve been talking about colour a fair bit recently, with the existing purple getting mixed reviews since its inception all those months ago. Some people like it, some don’t, some call it pink, some call it mauve. Some guys like it, some girls don’t. There hasn’t been a formal poll, but I think it might be fun to see if I can’t switch it out while nobody is looking.

Any suggestions on what to change it to?

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Austin & Brussels here we come!

5 March 2009

 

Hide under the table!

Hide under the table!

In addition to giving up several terrible vices too horrible to mention here, one of our key resolutions for 2009 was write regular blog posts again. We haven’t quite managed either yet but, in true Snagsta style, we will persevere.

Since our last post, two rather nice things have happened to Snagsta. First, we were selected by the wonderful people at Digital Mission to accompany them to North America’s biggest Internet trade show: South by South West Interactive or SXSWi for short.

If you’re not familiar with Digital Mission it’s run by Chinwag on behalf of UK Trade & Investment. Its 5 year mission is to explore strange new digital worlds, seek out new life and new civilisations and to boldly go where no man has gone before (or something like that). SXSWi will be the perfect platform for us to shout about Snagsta and hopefully make a few more friends across the pond. A big thank you to the insightful and unbiased selection committee.

Phil leaves to conquer America next Thursday. Please Tweet him @hofmeyr if you’d like to meet him when he’s there. 

Second, we were selected to present Snagsta’s wares at Plugg which also takes place next week. Plugg is a one day conference that takes place in Brussels next Thursday (12th March). Snagsta will be one of twenty companies taking part in the event’s Startup Rally. If you’re planning on being there please send a Tweet to me via @alexandermoore so that we can arrange to meet up.

As has become our tradition, we will end this post with a list. We’ve chosen one that might be of use to someone if they have been unlucky enough to be suffering from the effects of the recession. It was donated to us by the irrepressible Robert Scoble. It offers some great advice to anyone who’s just been laid off and might be looking for a job. Hope it helps spark a few ideas for those in need of some pointers.

What to do if you’re laid off in a recession

By Robert Scoble

1. Volunteer.

Let’s say you are going to be out of work for six months. What could you do with six months of your time? Make sure you come away with it with a great project under your belt. Why not volunteer your time with a charity that could use your skills? Not only will you feel good about yourself, you’ll come away with job experience so you won’t have a hole in your resume (building an IT system for the Red Cross looks damn impressive – saying you were “on the beach” for six months does not). Plus you’ll make great friends with people who are trying to improve the world (they are typically the kinds of friends you should have anyway).

2. Do the basics.

I got my NEC job by sending a resume into a job that I found on Craig’s List. Yes, my blog helped me AFTER I got the interview, but I got the interview just by having a great cover letter and an interesting resume.

3. See if you can keep coming into the office.

This isn’t open to everyone, but at Userland I kept coming into work everyday after the paychecks stopped. That made me feel better, plus it gave me the ability to use phones, stay away from negative situations (do you really want to be around family all day, everyday, who might remind you that you need to find a job?) as well as give you a place to work hard on finding your new job.

4. Start a blog on the field you want to work in.

Want to be a PHP programmer? Start a PHP blog and make sure you put world class stuff there. Link to EVERYONE who has a PHP blog. But that’s only the beginning.

5. Do a video everyday on YouTube that demonstrates something you know.

Loic does a video everyday. If you’re laid off you have absolutely no excuses. Get a cheap Web cam and get over to YouTube or Seesmic.

6. Don’t get lazy.

It might seem dire, but if you work it you WILL find a job. Some of my friends went on vacation, started drinking, or generally just hung out with their families. Those people took a LOT longer to find a job than the friends of mine who approached their time off with these tips.

7. Take a little bit of time to work on family and health.

You probably haven’t been paying enough attention to these two things. This is the time to start some healthy habits. Give up smoking, if you’re doing that. Drink less (the temptation will be to drink more, don’t give in). Get more exercise. Yes, I should take my own advice (I went for a long walk this morning in Davos and had fish last night).

8. Make sure you spend at least 30% of every day trying to find a job.

That means working on your resume. Getting your cover letter finished. Sending out resumes. Searching the web for work. Networking. Etc. At first your time spent on these tasks should be a lot higher, but after weeks of watching the job sites for jobs and having your resume checked over by 10 of your friends you will naturally have more time to spend on other things.

9. Go where the money is.

If you are laid off and you haven’t sent your resume to Matt Mullenweg this morning, why not? People with new funding are the ones who are hiring. You want to work for them, so do what you can to at minimum get an informational interview. Why don’t you interview Matt for your blog? You never know, he just might give you an interview and that might lead to a discussion about how you could fit into his company. Even if it doesn’t, at least you get an interesting interview with someone in the industry who is seeing success. Other employers want to be like Matt, so if you have some insights to his success you might be surprised by how that gets you job interviews.

10. Go to any job networking session you learn about.

All of them were valuable to me, even though they didn’t necessarily bring me a job. Part of it is just feeling like you’re doing everything you can to get back on your feet. It’s an attitude thing. If you have an attitude that you’re going to work at this that will come across and will bring opportunities to you.

11. Don’t feel bad about taking government assistance.

You’ll need it to pay your bills. I took it and it helped me get over that tough period.

12. Always have your suit ready.

Some interviews happen fast “can you be here this afternoon?” The one who is ready will get the interview.

13. Show your friends your resume and cover letter.

Don’t have any friends? Now is the time to make some. Call up some interesting people and ask for an informational interview. This is particularly key if you work at a big company and are getting laid off. I watched people at Microsoft get laid off and the ones who had tons of internal informational interviews got new jobs fast. The key is to meet people everyday and get in front of them. Not to beg for a job, but to do research on the industry you want to work in. You’d be amazed how showing some interest in your industry will get noticed itself.

14. Do things that will get you to be recognized as a world leader in the field you want to be in.

15. Are you a programmer?

Build something and put it up! Share your knowledge on your blog (give tips you’ve learned). Are you a program manager? Those jobs will be tougher to find, but you should demonstrate that you are a great manager of people as well as that you’re expert on the kinds of things you want to do. Demo! Demo! Demo!

16. Go to every business event you can attend.

Can’t afford to get in? Me neither and I have a job! Hang out in the hallways. You never know who you might meet. At minimum you’ll get interesting interviews for your blog. Have your resumes ready.

17. Learn from Loic Le Meur.

How did he get thousands of videos uploaded on Seesmic everyday? He networked. He visited tons of journalists, bloggers, executives. He is a consumate networker (you should watch him work the halls here at the World Economic Forum).

18. Make sure you take advantage of any help your former employer is offering.

Sometimes they have retraining or other programs that might help you land an even better job.

This list is available on Snagsta here.


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