Cory Miller, founder of iThemes.com and StartupSofa.com, shares lessons he's learned starting an online, digital product company.

1. How to Bootstrap
an Online Startup

2. What kind of startup
am I talking about?
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3. The Bootstrapped Startup
Bootstrapped on your time, talent and treasure
Online only
No physical location or goods
Digital Product
Software
File (i.e. Templates)
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4. Our Startup Formula
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5. The product
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6. What the product really does ...
Products must be solutions to people’s problems
Find the pain points and common problems
Real pain = real need
Champion a cause and compelling vision
The cause and vision is a ‘better way’
#startupsofa @corymiller303

7. It’s all about the solution ...
What do you possess that people would willingly pay
you for? (Skills, knowledge, etc.)
What is the core irritation? The deep pain?
What could be substantially improved?
What is the “secret sauce” that would be remarkable,
maybe even life changing?
What offers freedom, saves times, makes someone
more money, look better or do more?
#startupsofa @corymiller303

8. Narrowing in on THE solution ...
Build a laser beam
Aim it at a narrowly defined problem within a niche
Pick a ripe existing market w/ easily reachable
customers
Find an easy win FIRST to prove the concept
Don’t eat an elephant - Try a monkey instead
#startupsofa @corymiller303

9. Everything will change.
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10. Ultimately, go with your gut.
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11. Launch and improve
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12. Launch and improve
Dusty products are failures and suck
Shelved products are fancy narcissistic art sculputures
Perfectionism is evil poison to startups
Get something ‘good’ out
Give them the opportunity to react and respond
Let them mold it for you - and ultimately pay the bills
#startupsofa @corymiller303

13. The champion, you
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14. Champion the cause
You are champion of the cause
Products champion the cause too - they are the CURE
Champions are storytellers
Need to be crystal clear and be able to communicate
Champions know the story, the characters, plot
Champions bleed the brand
#startupsofa @corymiller303

15. Marketing it
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16. Guerrilla marketing
No money, no worries
Use your time, energy, skills and knowledge
aggressively
Start where you are .... start now
Build an email list for launch YESTERDAY
Blogging, Videos, Webinars, Social Media
Buy Content Rules book today - soak up & do it
#startupsofa @corymiller303

17. Email marketing
Don’t underestimate the value of email marketing
Email is still king
Email is not dead; we launched with 400 people or less
Write emails like you write personal replies
Think of a person; Build a relationship (ref. the cause)
Email news features, new launches, new tips
#startupsofa @corymiller303

18. Service is marketing
Customer service and support IS marketing
Your first customers become your raving fans
Ravings fans are the best marketing (word-of-mouth)
Underpromise and overdeliver
Be personal and human
Build and foster community
#startupsofa @corymiller303

19. Selling it
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20. On sales emails
Contact form is THE primary sales tool
Reply fast
Use questions to improve sales pages
Create a cheatsheet to copy and paste
Start a FAQ page and build it over time
#startupsofa @corymiller303

21. On sales pages
Sales pages help people make informed decisions
Give the right information most buyers would need
Better sales pages cut down on emails
Use good product images, videos, demos
SHOW them the product they are buying
Instill confidence
#startupsofa @corymiller303

22. On sales pages
Focus on benefits over features
What does the product do for them?
Use FAQs and list product specs somewhere
Test and refine - see what works
Go to your sales pages once a week (I don’t do this
enough)
#startupsofa @corymiller303

23. On pricing
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24. How do you price it?
More art than science
Review and compare what others are charging & how
Ponder what your ideal client would pay for it
What time do you have in development & supporting it?
Don’t underprice yourself!
Unless you’re iTunes, you’re not making money on $1
Build biz on higher priced items & those custmoers
#startupsofa @corymiller303

25. Supporting it
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26. Taking care of customers
There is ALWAYS support - no matter how good your
widget is
People have questions - sometimes obvious ones
Passive income biz don’t exist - SORRY!
Being responsive & helpful builds fans
#startupsofa @corymiller303

27. Supporting your community
Forums are most efficient way to support
Not always liked but realistic in digital products
Answering questions for everybody’s benefit
Leveraging community - find ambassadors
Our best moderators came as customers
Repost common questions as blog posts &
documentation
#startupsofa @corymiller303

28. One last thought ...
Always be improving
and innovating
#startupsofa @corymiller303

29. @corymiller303