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10 LESSONS from an incredible first episode of Founder’s Field Guide with @rahulvohra and @patrick_oshag @InvestLikeBest
1/ Software as a Game
• Most startups worry about what users want or need
• When you make a game, you OBSESS over how they FEEL
• When your product is a game, people don’t just use it, they play it
• Most startups worry about what users want or need
• When you make a game, you OBSESS over how they FEEL
• When your product is a game, people don’t just use it, they play it
2/ Schlep Blindness (h/t @paulg)
Founders think:
• It looks hard, so let’s not attempt the problem
Attack MUNDANE areas of business with stiff competition
ie: @Superhuman vs. gmail
Founders think:
• It looks hard, so let’s not attempt the problem
Attack MUNDANE areas of business with stiff competition
ie: @Superhuman vs. gmail
3/ Iteration vs. Movie Production (h/t @rabois)
• Rahul believes in both
• @Superhuman product-market fit engine DOES NOT encourage you to iterate and fail fast
“DON’T put out a minimum viable product, put out a maximally delightful product.”
• Rahul believes in both
• @Superhuman product-market fit engine DOES NOT encourage you to iterate and fail fast
“DON’T put out a minimum viable product, put out a maximally delightful product.”
4/ Leading Indicator of PMF
“How would you feel if you could no longer use the product?”
— @SeanEllis
• Measure the % of users that would be ‘very disappointed’
• If greater than 40%, you have product-market fit
“How would you feel if you could no longer use the product?”
— @SeanEllis
• Measure the % of users that would be ‘very disappointed’
• If greater than 40%, you have product-market fit
5/ Pricing Software
1) So expensive that you WOULDN’T buy it?
2) Priced so low that you feel quality wouldn’t be very good, so you wouldn’t buy it?
3) Starting to get expensive but you would still buy it?
4) Price that would be a bargain?
Go for #3 not 4
1) So expensive that you WOULDN’T buy it?
2) Priced so low that you feel quality wouldn’t be very good, so you wouldn’t buy it?
3) Starting to get expensive but you would still buy it?
4) Price that would be a bargain?
Go for #3 not 4
6/ What if we don’t change the product, but we change the market?
• Ask users: WHO do you think is best for this product?
• Turn that answer into a detailed description of your own “highest expectation customer”
• THEN focus on people that fit that.. Resegmentation
• Ask users: WHO do you think is best for this product?
• Turn that answer into a detailed description of your own “highest expectation customer”
• THEN focus on people that fit that.. Resegmentation
7/ Seeking Word of Mouth Growth
• Listen to people talk about your product
• “What is the 1 word that your customers refer to your product with?” (ie: fast for @Superhuman)
• Double down on that 1 word: “FASTEST email experience in the world”
• Listen to people talk about your product
• “What is the 1 word that your customers refer to your product with?” (ie: fast for @Superhuman)
• Double down on that 1 word: “FASTEST email experience in the world”
8/ @rahulvohra’s Investing Framework
• Do the founders know HOW to make something people want and make people REALIZE they want it?
• Do the founders have grit? (Passion + Perseverance)
• Is there a possibility of a billion-dollar outcome?
• Do the founders know HOW to make something people want and make people REALIZE they want it?
• Do the founders have grit? (Passion + Perseverance)
• Is there a possibility of a billion-dollar outcome?
9/ 3 Pillars of @Superhuman Growth
• Viral: 60% of new customers come from existing ones
• PR: Rahul enjoys talking to press
• Content: pick 1 theme per yr and write a piece of Evergreen content on how @Superhuman does it (PMF, design as a game)
• Viral: 60% of new customers come from existing ones
• PR: Rahul enjoys talking to press
• Content: pick 1 theme per yr and write a piece of Evergreen content on how @Superhuman does it (PMF, design as a game)
10/ @Superhuman’s Design Formula
• 10x execution
• Blazing speed (50 ms or less)
• Keyboard > Mouse
Apple wasn’t the 1st to design touch ID.. 1st to make the experience 10x more enjoyable
• 10x execution
• Blazing speed (50 ms or less)
• Keyboard > Mouse
Apple wasn’t the 1st to design touch ID.. 1st to make the experience 10x more enjoyable
11/ If you liked this, check out the whole episode https://twitter.com/InvestLikeBest/status/1312078993517170694
https://twitter.com/InvestLikeBest/status/1312078993517170694
