Lessons Learned from Bootstrapping
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Follow LiquidPlanner's journey from the early days to profitability.
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Lessons Learned from Bootstrapping
- 1. Lessons Learned from Bootstrapping @lizprc A look back at LiquidPlanner’s journey Liz Pearce, CEO from inception to profitability
- 2. Online Project Management Software Seattle-based start-up Founded in 2007 1200+ Corporate Customers 50 Countries 20 People Profitable and Growing 2
- 3. My Background Lesson: ignorance is bliss
- 4. a really great Two Guys and an Idea
- 5. Forming the Band Lesson: who you work with matters
- 6. Taking on a BIG , Stale, CROWDED Market Lesson: Be different and disrupt status quo
- 7. Honesty and transparency Principles Innovation as differentiator are Play the long game Priceless Always be learning Priority-based execution Lesson: it‘s a marathon, not a sprint - do the right thing
- 8. Founders, Angels, Advisors – oh my! Lesson: stay lean, focus on solving a meaningful problem
- 9. Going to Market Lesson: it’s a lifestyle, not an event
- 10. Building a Customer-Focused Organization Lesson: the customers are the rock stars (not you)
- 11. Building a Customer-Focused Organization People Tools Repeatable Processes Lesson: Be loose with ideas & disciplined in operations.
- 12. Product Reinvention 5 laws of Lean Startup Social Project Methodology Management Design Quality Obsession Obsession Image credit Eric Ries / The Lean Startup
- 13. Sprint 13 Summer 2008 Ugly baby.
- 14. Sprint 38 Now Sexy.
- 15. Business Model Lessons 1. Make a good product that solves a problem 2. Use a subscription model 3. Price the product so that it makes a profit 4. Make it easy to buy 5. Keep people happy
- 16. Hitting Key Milestones and celebrating them with the team First paid customer First raving fan First $100k revenue month Becoming cash flow positive First $1M year Becoming profitable First $250k revenue month Best workplaces award
- 17. Scaling #1 challenge: managing growth Shifting focus from research to growth Peaceful transition of roles Investing profits Evaluating growth funding Moving & hiring!!
- 18. Q&A @LiquidPlanner or @lizprc facebook.com/LiquidPlanner linkedin.com/company/LiquidPlanner