Startup Pivot: Leaner than LeanStartup
In the past 14 months, @mytweetmark has launched 6 websites. Fail fast, pivot and try again. Some of them died, some of them are doing great but more coming! Here is the @mytweetmark lifestream:
- January 2010: @mytweetmark launched - Saw need for blogging and metrics, cheaper advertising option to Google and Facebook utilizing open Twitter API.
- January 2010 - March 2010: Cloned @mytweetmark to 5 sites,
- @mytweetmark - Auto tweets
- @drspiritcom - Spiritual thought sharing site
- @mytweetsports - Sports score sharing site
- @viralfactors - Viral analytics
- @homecookme - Recipe sharing
- March - April 2010: SXSW affect, killed @drspiritcom, @mytweetsports and @viralfactors! Chirp affect, chip monks coding away at chirp. Many implementing similar ideas to @mytweetmark..
- June - March 2011: First mover advantage in signing up all the local businesses for over 150 farmers' markets in Northern California and Austin. Not signed are still on email campaigns, receiving offers.
- March 2011: SXSW affect, launching @winehomeme for wine sharing and iphone mobile applications!
Some of the lessons learned:
- Speed is everything.
- Execute fast and learn on the metrics.
- Make decisions.
- Implementing new technology is much easier and faster.
- Follow LeanStartup
- @twitter is amazing marketing platform.
- Never be ashamed of fail.
- Quit whining, continue doing.
- Action speaks larger than words.
- Meet as many angels and VCs you can.
- Pivot on feedback.
- Time to market is everything.
- Understand competition.
- If your execution sucks and late, the market will be taken.
- If your execution is early, determine whether the opportunity is worth the wait?
- Only the first one gets the dinosaurs, i.e. the hockey stick chart or biggest piece of the pie, market share.
- Startup is not about weekends, or weak ends (VC terminology). It feels like a weekend every day!
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