My daily readings 04/20/2011

    • You quit when you can’t find any customers, you stick when all signs point upward and you pivot when your customers keep asking you too
  • tags: Pivot Startup

    • Changing your idea frequently is perfectly fine and likely healthy (as long as you are not going around in circles). It suggests that you are responding to the competitive landscape, adjusting to use cases, testing hypothesis and tuning what you might build based on what is feasible (given technical, skill, and financial constraints).

      Changing your product frequently is, more often than not, very unhealthy. It increases the likelihood that your code will be messy, the user experience confusing and your efforts used inefficiently.

      So, if your idea of what to do is changing once a week, the right time to start building the product is when

      1. Your idea matures. You will know you are ready when the idea remains mostly unchanged after a couple of weeks.

      2. You identify a core feature that is common to many of your ideas over the last few weeks. Often similar set of features can support quite different ideas. Maybe you have been “thinking too big”; making the idea too complex (and thus unstable).* Think in terms of the Minimum Viable Product (MVP)…

  • tags: Startup Pivot

    • First, some context. We’re not at all unique. Many successful startups go through some form of pivot, changing their direction when their first idea was not successful. PayPal was beaming money between Palm Pilots. YouTube was a video dating site. Twitter was group SMS, which came out of a struggling Odeo. Pandora started as a B2B music recommendation service. Groupon started as The Point, serving collective political action. The list goes on.

      Of course, there are some notable exceptions, such as Amazon, eBay, LinkedIn, Facebook and Yelp, which brings up an important distinction between pivots and merely expanding a core business: Amazon going from books to other categories and Facebook going from college students to open registration. Tagged also first attempted an expansion and then a pivot.

    • By late 2007, our traffic was flat while others were growing. We weren’t in the top 5 social networks and faced being pushed out of the top 10. We had to acknowledge we’d lost the particular social networking battle we were fighting.
    • We took a step back and conducted a series of user polls and surveys. We also dug deep into our own stats to find answers to fundamental questions: Who were our users? What were they doing on Tagged? What was Tagged to them? The results were astounding:
    • This was an “ah ha” moment for us! People weren’t using our site to stay in touch with their friends. They were using it to meet new people. Tagged isn’t social networking, it is social discovery.
    • This pivot to social discovery has led to tremendous growth. Today we have over 100 million registered users with more than 20 million monthly unique visitors. Collectively, they form over 100 million new connections and consume over 5 billion pageviews per month.
      • 20M Monthly unique visitors 产生50B PV, 平均每人每月250 个。   我们2M UV, 产生8M PV, 平均每月每人4次。
  • tags: Entrepreneur

  • tags: MiniBook

  • tags: Startup Case

Posted from Diigo. The rest of my favorite links are here.

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