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Yesterday I spoke with lean startup guru Eric Ries who is hosting the Startup Lessons Learned conference this Friday in San Francisco and at live simulcasts around the world. Ries says he considers entrepreneur turned educator turned public servant Steve Blank to be his mentor in the startup world, and Blank will be among Ries' lineup of speakers at this week's conference. Blank will give a talk he's titling, "Why Accountants Don't Run Startups," (or Customer Development 2.0 on the conference site ) which details the major differences between startups and large companies - a speech whose slides Blank posted to his blog via SlideShare late last week. Sponsor According to Blank, the line he draws between smaller startups and larger companies is based around the business model. Startups, he says, exist in the state where they are searching for a business model, and large companies are the result of finding and executing that business model. The reason he calls out accountants in the title of his talk is that as startups transition into larger companies, their less conventional methodologies become more traditional, and that's when accountants are needed. Early on, startups, in his opinion, should rely on such metrics as customer acquisition cost, viral coefficient, customer lifetime value, and monthly burn rate. These types of measurements become de-emphasized in larger companies which focus on balance sheets, cash flow statements and income statements, Blank says. Parallel ways in which startups transition into larger companies include customer development giving way to product management, and agile development becoming engineering. Early-stage companies, searching for a business model and for customer traction, will test hypotheses, discover their minimum feature sets, and pivot their focus if things don't work out, he says. Product management takes over once a viable model is found. One of the major stepping stones toward becoming a successful larger company, Blank says, is discovering the winning model or process and focusing on making it work over and over. Entrepreneurs begin their startups with a hatred for processes, but learn to love and implement processes as the company grows into a profitable business. Passionate focus transitions to focus on the company's mission, and ultimately to the execution of that mission. Blank wraps up his presentation by drawing the same lines between two types of education, business school and entrepreneurship school. Business school, he says, is far better suited for teaching students to run larger companies, while startups need founders with better entrepreneurial training. These ideas merely scratch the surface at what Blank is likely to dive into during his 45 minutes presentation Friday afternoon, so be sure to check out the event if you're in San Francisco, or find a live simulcast to attend in your area. Photo by Flickr user dux_carvajal . Discuss
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Steve Blank On How Startups Evolve Into Large Companies
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Today is the last day to save $200 on your tickets to ReadWriteWeb Mobile Summit 2010 ! Tomorrow the price goes up to $595. Register now! The ReadWriteWeb Mobile Summit will take place May 7, 2010 , in Mountain View, California and will be an exploration of the latest mobile development trends, both the technology and the emerging business applications. We are looking forward to some amazing discussion and debate about mobile with participants like : Sponsor Deb Schultz of Altimeter group Patrick Chanezon, Don Dodge & Bob Meese of Google Ted Morgan of Skyhook Wireless Scott Raney & Tom Tunguz of Redpoint Ventures As with our first event, the Real-Time Web Summit last October, the Mobile Summit will be in the "unconference" format. We discovered in October that the unconference is a perfect complement to our brand, because it encourages a high quality two-way dialog. Not only that, but the knowledge and ideas that came out of our Real-Time Web Summit were practical and useful - we got a lot of great feedback about that. As with our previous event, the Mobile Summit will be facilitated by Kaliya Hamlin , who in our opinion is the best in the business at this style of event. We're using the same venue too, the beautiful Computer History Museum. Mobile was one of our top five trends last year and continues to undergo explosive growth , so our aim with this event is to help you navigate the opportunities. Get ready to explore, think and create the future of mobile! Because it will be you - the attendees - who ultimately set the agenda. You can begin adding your suggestions now. We will have two main tracks at this Summit, Development and Business . Here's a sample of some of the topics we'll explore in both of these tracks: Geo-location services - what can you do using location as a platform ? Commerce & Marketing - as more and more consumers use smartphones, how can businesses utilize this channel? Content, Publishing & Recommendations - the technologies and best practices. Mobile Social Networking - how to tap into communities on mobile devices. Internet of Things - the emerging opportunities from sensor and RFID data. Augmented Reality - the technology and business applications of AR. Native App vs. Browser Based - Including iPhone, Android, RIM, Palm, Windows Mobile and Symbian. If you're a company in the Mobile Internet market, you may be interested in helping sponsor this event. Current sponsors include: Platinum Sponsor: CallFire CallFire allows SMBs and developers to easily & cost-effectively build rich interactive phone systems. In minutes, users can create useful toll free hot-lines, send notification & emergency response phone calls, and even setup cloud call centers with agents located anywhere in the world. CallFire's text-to-speech engine lets you create database-driven appointment reminders, toll-free information hotlines & outbound power-dialing campaigns for pennies a call. Call 877.897.FIRE to learn more, or check out a video: IVR , Cloud Call Center , Toll Free Numbers . CallFire will be introducing our very own Richard MacManus for the keynote and has a surprise giveaway for all attendees of the morning keynote - so make sure you arrive early! Travel Sponsor: World Mate WorldMate, the world's leading mobile travel assistant with over 5 million members worldwide, is the official travel sponsor of the upcoming 2010 ReadWriteWeb Mobile Summit. Add WorldMate to your Blackberry or iPhone today and use its powerful features to deliver an unparalleled travel experience as you make your way to the Summit on May 7th in Mountain View. WorldMate can recommend flights, hotels and ground transportation to suit your individual needs - you can even book your travel through the mobile application. Visit www.worldmate.com for more information. Lunch Sponsor: Alcatel-Lucent Finally, Alcatel-Lucent will be sponsoring the lunch at the Mobile Summit. By the way, this isn't a boxed lunch, we know that shaping the future of mobile takes energy and therefore you need good food - so we're pleased to announce the lunch will be fresh grilled made to order tacos, burritos & quesadillas. Also, while ordering your lunch make sure to drop your business card in for a chance to win one of the six iPads Alcatel-Lucent's team will be giving away! Please contact our COO Sean Ammirati for more information on the sponsor options. The ReadWriteWeb team is excited about our second event and we can't wait to discuss the opportunities in Mobile with you on May 7. You can find banners and logos to link to our event here , if you're so inclined. We hope to see you on May 7! Discuss
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Mobile Summit Second Round Pricing Ends Today! Last Day to Save $200!
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For most startups in the early-stages of development, much of the building process includes repetitions of prototyping, testing, receiving feedback and iterating the product several times over. The toughest part of this process isn't building or making changes, it's getting that valuable feedback on where your product could be improved. Concept Feedback , a simply named online service, wants to help your startup with constructive criticism from its quickly growing community of over 5,000 designers, developers, marketers and entrepreneurs. Sponsor The process at Concept Feedback is pretty simple: users can upload their concept work for the community to view, other members comment and provide their opinions and feedback for the concept, then the original user can upgrade their product, and even resubmit for further feedback. Companies can choose to post a "premium concept" which will be more visible on the Concept Feedback homepage and for which they can offer cash rewards for the most constructive comment or piece of advice. Most of the items are site are full web or logo design mockups, but there were a few rough wire-framed sites scattered through the concepts. Other, less popular entries, include films, posters, business cards and a whole lot more. For a small startup team looking to get some fresh sets of eyeballs on their latest project, Concept Feedback could be an excellent resource to do so. With most of the feedback based around design and aesthetics, startups may still need to look elsewhere for direct usage and feature feedback for their product. The truth is, with this type of feedback, you want people taking a deep dive and playing around with your product for some time before providing their opinion; Concept Feedback seems geared at providing mostly visual feedback, so usability and functionality reviews are much less common. There are several ways of gathering feedback from actual users of your site; one such service we mentioned in January allows companies to automate phone surveys and displays the results as charts and graphs. But if your goal is to show off the latest design iteration of your site, Concept Feedback is a great place to unveil it and receive some educated opinions to make it look its best before launch day. Discuss
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Get Quick Impressions of Your Latest Product Iteration with Concept Feedback
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Over the last few months, as data has been released by the National Venture Capital Association , we have spoken about how the venture capital industry struggled in 2009 . Though things appear to be returning to normal , 2009 was still a tough year for both VC investments and fund raising. Investor Seth Levine offered his opinion Monday on where he thinks the industry is headed and raised some interesting points on how VC firms will be funded in the future - an issue which could impact the way startups get funding. Sponsor Interestingly enough, according to VentureSource , VCs have been investing more than they have been raising themselves - $14 billion more over the last five years, to be exact. The strange thing is that $9 billion of that difference came in 2009 alone when VCs invested $21 billion but only raised $12 billion for themselves. This is a steep decline from the previous four years which saw fundraising and investment hover around $25 billion. Levine believes that because of the drop in fund raising, VCs will begin settling into a lower level of investment. "Somewhere around $15Bn is the right 'steady state' investment pace for the venture industry as an asset class. At this investment level the return profile of the industry maps to a reasonable expectation of inputs and outputs (the money invested in start-ups as compared to the exit activity)," writes Levine. Additionally, he believes that VC fundraising is headed towards an inverted bell-curve distribution where the majority of the money goes to the "outliers" of the industry. Larger funds with diverse portfolios will continue to attain large funds (like the $750 million we saw go to Battery Ventures earlier this month), while smaller funds which place higher investments in fewer companies will also grab a majority of the VC funds. It's that middle group of funds that will likely suffer, he says. So what does this mean for startups looking for funding? Unfortunately, if this trend continues, lower VC funds means fewer investments, so the pool of money available to startups is shrinking. However, if Levine's idea of the inverted bell-curve holds true, then that means more money will be pumped into the smaller venture funds that provide many early-stage investments. In other words, it could become significantly easier to snag seed funding, but much more difficult to raise those subsequent rounds of funding later on down the road. This, of course, all hinges on Levine's subscription to the idea of the $15 billion "steady state" (an idea he attributes to investor Fred Wilson ) that he thinks the industry is headed to. But if early indicators of 2010 activity show anything, VC investments could be making a rebound from 2009 instead of heading for the "safe zone". It will be interesting to watch the numbers to see which way this scenario plays out, but it seems that either way, seed investments should stay steady or go up in 2010. Discuss
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How Upside Down Bells Could Help Startups Get Seed Funding
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Fliptop , a new content subscription service, is one of several companies presenting at this week's DEMO conference in Palm Springs. Among a large group of startups, this was one of the first to catch my eye, making me think "wow, I need that!" In short, what Fliptop offers is a simple way to subscribe to a website's content. But unlike traditional RSS feeds, which just offer a direct feed which must be added to an RSS reader like Google Reader or FeedDemon , Fliptop's service provides more features, like the option to filter content by keyword, follow only select topics or categories and the ability to receive email digests of the just content you're interested in. Sponsor For Web Publishers The Fliptop service is available in two formats - one designed for website publishers and another designed for web surfers . The first provides an embeddable button that publishers can add to their site. When clicked, this button prompts the user as to which topics they want to follow. A sports site could set it up so fans could just check boxes next to their favorite team names, for instance. Another option below the checkboxes lets you further refine the content you choose by keyword filters. So, here on ReadWriteWeb.com , for example, you could follow news about "mobile, real-time web, apple" etc. (Keywords are separated by commas). After picking your options, you click "Next" and then choose how you want to be alerted - either via a traditional RSS feed or by email, Twitter, Facebook, or SMS text. If choosing the email option, you can even configure how often you want to be alerted - once per day, once a week or immediately. For Consumers However, you don't have to rely on publishers to begin using Fliptop before you can try it. A browser bookmarklet is available which lets you drag-and-drop a Fliptop button to your web browser's bookmarks. Click the new "Subscribe" button it creates when you're on any page that has an RSS feed (look for the orange icon in the address bar of your browser). When clicked, you can configure how you want to follow that site. At the moment, your only options here are email or RSS. The service is simple, incredibly easy to use and useful for anyone who feels overwhelmed by their news feeds. (Gadget blog readers, rejoice! This product is perfect for you!). The only downside to the service as it stands right now is that it requires you to fill out CAPTCHAs when signing up. These spam blocking tools force you to type in the blurry words you see into a text box before confirming your subscription. And if requesting an email subscription, you then have to click yet another confirmation sent to you via email to assure Fliptop that you really did want to subscribe. We appreciate that the company is looking out for us, but two confirmations is at least one too many for what should be a speedier service, in our opinion. Will Fliptop Make Website Subscriptions More Mainstream? The real question now is whether something like Fliptop will encourage more people to follow a website's content via an automated mechanism, be it a customized, filtered RSS feed or an email digest. The idea of subscribing to a website directly via an RSS feed is one that, for whatever reason, never quite caught on with the general public. However, those same folks probably use RSS without even knowing it - like when they follow their favorite blog on Facebook, for example. The updates they track there are, in most cases, automated via RSS technology. Fliptop could potentially reach these same sort of non-technical users too, thanks to its simple terminology (publisher buttons say "follow" not "subscribe"), a clean layout and easily understandable filtering options. Now it's just a matter of waiting to see if any web publishers pick this up and place it on their site. Discuss
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Fliptop Makes RSS Easy, More Configurable
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