SF Mobile Entrepreneurs meetup

Pivotal Labs hosted the SF Mobile Entrepreneurs meetup which was coordinated by Yuliya Dmytryshyn of Stanfy.

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Bob Dana of Tripshare candidly shared his mobile strifes with $1.2m put into developing a travel itinerary IOS app. This is a productivity tool so he has a very high MVP threshold (most viable product). When you have a social sharing app, there are more platforms which means multiple management for software updates.

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User needs the shortest path to doing 200 things: create. share. book.

Disrupt existing brands: Travel is the biggest ecommerce business. Travel section is the most expensive SEM section. This is a big market: $800 billion.

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Start off with your generic tagline “social travel” but now offer a better distinction: pod hotel offering accomodations and an online profile of each guest.” = “a social network with a physical address.”

You want to solve a real need. With travel, people want to cheapest option. Prove this is do-able and people want it. If you don’t solve a real problem, you’re just practicing.

TIP: you can call Expedia and get affiliate distribution with 8-10% commission.

DEF: STARTUP
“a company seeking product market fit.”
Better put though, “when 40% of customers tell you that they can’t live without your product, you have reached success.”

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Journey is destination – enjoy the process
It’s going to take time, don’t force it and pay for customers.

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Shaan Puri, CEO of the Monkey Inferno confidently gave the Do’s and Don’t of mobile development. He works on 5 projects simultaneously. Personally, I get it. I have PodShare, ScoutMy.com and production jobs for BTS on music videos. When you hit a road block on one project, you can jump onto another. This is for the type of person that naturally keeps on ticking when others have tuned out for the night.

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-passion
-potential to tackle big problems: solve or tackle big market.
-progress or accountability. Set a chunk of time to work on it but if no progress, then stop.

Don’t assume if you build it, they will come.
Don’t skimp on design & UX. You need real testing.
Do things that don’t scale. You don’t have money but you have time. Use that. Creativity will be a natural marketing tool. Beer Hunt app would make funny customer service videos for complaints.
Don’t get too cute with your ideas, get login information from the get-go
Measure everything. Most importantly is how many people are using your product. Can we increase that amount by 10% every weekend?
Do it. Jump in. Mobile is hot. Make your first app.

FYI: Beer is the third most consumed drink after water and tea.

TIPS:
Go Android first. Why? Speed of iteration, measurement tracking users on what’s working and what’s not. As soon as the app hits the Apple store, there are no measurements available. Scale android, monetize on IOS.

Push notifications helped. Create funny ways to portray stats. People don’t like losing streaks so make a design habit, where the product has the ability for habit forming. Internal triggers like tapping into people’s pride or external like push notifications.

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TIP: Read http://www.nirandfar.com/ blog

The Monkey Inferno is an interesting concept: It is Michael Birch‘s personal incubator and everything is built in shop – built to fail. Meaning they expect 1 out of 4 apps to be successful. Beer hunt is doing OK by hitting 200 downloads a day no matter what they do. If it does not peak in the near future they will put it on auto pilot and move on.

One Response to SF Mobile Entrepreneurs meetup
  1. [...] cool startup called Pod-Share in Hollywood, also took the time to blog her own spin on my speech here... blog.tripshare.com/2013/11/07/some-tips-for-startup-entrepreneurs

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