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Lecture 2 - Sam Altman

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118 views

Lecture 2 - Sam Altman

Borrow or non-commercial use. Original: https://www.dropbox.com/s/f1xgbo6c976di06/Lecture2.pdf?dl=0

Uploaded by

MadsHolmen
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 41

SAM ALTMAN

President, Y Combinator
@sama
[email protected]

IDEAS, PRODUCTS, TEAMS AND EXECUTION PART II
How to Start a Startup
1. Idea 2. Product
3. Team 4. Execution
3. Team
2. Product 3. Team 4. Execution 1. Idea
A. Cofounders
2. Product 3. Team 4. Execution 1. Idea
Relentlessly
Resourceful
2. Product 3. Team 4. Execution 1. Idea
2. Product 3. Team 4. Execution 1. Idea
Know your cofounders
2. Product 3. Team 4. Execution 1. Idea
B. Try not to hire
2. Product 3. Team 4. Execution 1. Idea
C. Get the best people
2. Product 3. Team 4. Execution 1. Idea
great companies
2. Product 3. Team 4. Execution
Mediocre engineers do not build
1. Idea
! Are they smart?

! Do they get things done?
! Do I want to spend a lot of time around them?
2. Product 3. Team 4. Execution 1. Idea
! Good communication skills

! Manically determined
! Pass the animal test
! Would feel comfortable reporting to them
2. Product 3. Team 4. Execution
Also:
1. Idea
D. Youve hired -
the best -
2. Product 3. Team 4. Execution 1. Idea
now keep
them around!
E. Fire fast
2. Product 3. Team 4. Execution 1. Idea
4. Execution
2. Product 3. Team 4. Execution 1. Idea
! Set the vision
! Raise money
! Evangelize
! Hire and manage
2. Product 3. Team 4. Execution
The CEO has ve jobs
! Make sure the entire company executes
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
Focus
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
! Focus
! What are you spending time and money on?
! What are the two or three most important things?
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
! Focus
! Say no. A lot.
! Set overarching goals. Repeat them.
! Communicate.
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
! Focus
! Maintain growth and momentum.
! Work together in person.
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
Intensity
1. Idea
2. Product 3. Team 4. Execution 1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
! Intensity
! Relentless operating rhythm
! Obsession with Execution Quality
! Bias towards action
1. Idea
2. Product 3. Team 4. Execution
they've gotten new
things done.
Every time you talk to them,
1. Idea
2. Product 3. Team 4. Execution
Can you get it done?
! Intensity
! Quick
! Do whatever it takes
! Show up
! Dont give up
! Be courageous
1. Idea
2. Product 3. Team 4. Execution
Always keep momentum.
1. Idea
2. Product 3. Team 4. Execution
Always keep
growing.
1. Idea
2. Product 3. Team 4. Execution
Sales x everything
1. Idea
2. Product 3. Team 4. Execution
! Shipping product
! Launching new features
! Reviewing/reporting metrics and milestones
Set an operating rhythm
1. Idea
2. Product 3. Team 4. Execution
The competitor to be feared is one
who never bothers about you at all,
but goes on making his own
business better all the time.
1. Idea


Henry
Ford
2. Product 3. Team 4. Execution
Dont spend more
money than you
have.
m
o
r
e


1. Idea
2. Product 3. Team 4. Execution
Generate revenue
early on.
1. Idea
2. Product 3. Team 4. Execution
Protability within
grasp
1. Idea
2. Product 3. Team 4. Execution
Deals
Build a great
product
1. Idea
2. Product 3. Team 4. Execution
Deals
Develop a personal
connection
1. Idea
2. Product 3. Team 4. Execution
Deals
Have a competitive
dynamic
1. Idea
2. Product 3. Team 4. Execution
Deals
Be persistent
1. Idea
persistent
persistent
persistent
2. Product 3. Team 4. Execution
Deals
Ask for what you
want
1. Idea
2. Product 3. Team 4. Execution
Get a sales and
marketing engine
going
1. Idea
2. Product 3. Team 4. Execution
! Identifying key marketing messages
! Developing tight relationships with journalists
! Learn how users decide to use or buy your
product
Sales and marketing: do it yourself
1. Idea
2. Product 3. Team 4. Execution 1. Idea

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