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Web3 projects can always buy engagement, but is that really valuable? Having real users on your platform, testing your product, becoming a valuable part of your ecosystem is where it's truly at. Which is exactly why we built ActionFi. We believe rewarding real product usage is the future of...

19,505 görüntüleme • 6 gün önce •via X (Twitter)

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Sam Altman on why you shouldn’t track absolute user growth in the early days of a startup “Nothing but a great product will save you; you can get everything else right and it still won’t work.” He points out that almost all startup founders get the following wrong: “It is more important to have a small number of users that love you than a lot of users that like you… Eventually what you want of course is a lot of users that really love your product, but that’s almost impossible to do.” In practice, you have two choices: Deep and Narrow: “You have a small number of users that really love you and then find out how to find more and more of those users and broaden the appeal of the product.” Shallow and Wide: “You can have a lot of people that sort of use the product once or twice and kind of like it and try to figure out how to get them more engaged over time.” “With high confidence, I can say that you want to start with a small number of users that really love you. Almost all great companies have products that start this way.” He argues that a good indicator of users loving your product is retention and frequency of use: “In fact, I think this is so important that you actually shouldn’t track absolute growth in number of users in the early days of a startup. You should just track how often they’re using it… That’s a good early indicator of users that love you—better still is them spontaneously telling their friends to buy your product.” Follow Startup Archive for more tactical startup advice!

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Rahul Vohra on how to measure product/market fit Rahul Vohra is the founder and CEO of Superhuman. He was looking for a metric to measure product/market fit so that he and his team could optimize, and he came across the following methodology from Sean Ellis: Simply ask your users: “How would you feel if you could no longer use the product?” with three options: (1) not disappointed, (2) somewhat disappointed, or (3) very disappointed. It turns out that the benchmark for product/market fit across hundreds of venture-backed startups is 40% of respondents saying “very disappointed”. And as Rahul puts it: “If more than 40% of your users would be very disappointed without your product, then you should focus on growing your company. If less than 40% of your users would be very disappointed without your product, then you’ll probably struggle to grow.” 40% may not sound like a lot, but it’s an incredibly hard benchmark to beat. For example, Slack posed this to 731 customers early in the company’s history, and 51% said they would be very disappointed without Slack. One might expect a terrific product like Slack to have a score of 60-80%, but that wasn’t the case. Rahul’s explanation of why the response options are focused on disappointment rather than happiness is interesting too: “I think the reason behind that is that if you ask people how they feel about a product and you give them positive potential responses, I think it invites more bias. People are more likely to be polite. And it also doesn’t get to the heart of the matter which is: how necessary has your product become in people’s lives? If you’re trying to build a company that’s going to stand the test of time, you really do have to build a product that matters and that people ultimately come to depend on because it’s just so incredible at what it does. And that’s what this question gets to the heart of.”

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Shayne Coplan, CEO of Polymarket, on why dogfooding your own product is the single best shortcut to building something people want: Shayne is asked what he thinks it takes for a founder to build a successful company. He starts by dismantling the fantasy he once had as a teenager: "When I was in high school, I was always like, man, I'm going to build this side project. It's going to get traction. People are going to give me money, and then I'm going to drop out. And it's going to be like this perfect clean break where I take no risk. Completely did not happen." Shayne dropped out of college at 18, but what followed was nothing like the smooth ride he'd imagined. "There were almost 3 years of like complete brutality of things not working and me trying things and me learning different things and running out of money, stressed about rent, like the whole 9 yards." That stretch taught him the first non-negotiable for any founder: full commitment. "If you really want to do this, if you really feel like it's your calling, don't half-ass it. Go all in. Don't hedge your bets." Shayne Coplan 🦅 continues: "If you're hedging your bets and you kind of haven't cut the rope and you're like, 'Well, I'm still at this, but I'm trying this on the side, whatever.' That's not how great, durable businesses and products start in this day and age. You got to go all in. You got to give it every ounce you got." But going all in is only half the equation. The other half, and the part Shayne believes is the real shortcut, is being one of your own users: "You have to obsess over your customers and people who are using your product. And just the easiest thing to do to build a product company is to use the product yourself and to talk to your own users all the time and triage between what you learn from your users, what you learn from dogfooding your own product, and your product development cycles." He ends with a dose of humility: "It's all I got. I'm still learning honestly."

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Michael Seibel on how to get and test startup ideas As the former CEO of Y Combinator puts it in the clip below: “There’s a common misconception that your idea has to be great to start a company, and the first thing I want to do is destroy that misconception.” Michael was one of the cofounders of JustinTV, which later become Twitch and sold to Amazon for almost $1B. Their original idea was to create an online reality TV show—very different from where Twitch eventually ended up. Rather than falling for the trap of thinking that your initial startup idea has to be great, Michael advises founders to start with a problem: “Starting with ideas is tricky because people immediately want to grade your idea. It’s a lot easier to start with a problem and think about how you grade a problem.” Ideally the problem you set out to solve is one you've experienced personally or have some sort of connection to. You should ask yourself: “why am I uniquely qualified to work on this problem?” Is there some unique angle or approach you're taking to the problem that you understand but you don't believe others understand? Peter Thiel argues that “great companies have secrets: specific reasons for success that other people don’t see." After identifying a problem, you’ll want to start thinking about your MVP. What's the first solution you're going to build and release to see if you can help your initial users solve this problem? But don’t fall in love with your MVP. As Michael puts it: “A lot of people fall in love with their product and are not in love with their problem or their customer. I advise the opposite. Be in love with your problem. Be in love with your customer. And treat your product in a way that can change, develop, and improve.” And once you have an MVP, you should have a strong opinion about who your initial customer is and handpick all of your initial users. The goal with an MVP is not to see how many people want to use your product. It's to see if your solution actually solves the problem for your initial target customers. “The best startups very heavily filter the people who are able to use the initial product and make sure that they’re the right type of initial customer.”

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Sam Altman on How to Get Your First 100 Users In the clip below, Sam Altman walks through four common strategies to get your fist 100 users in order of best to worst: 1. Use your network. Email everyone you know and call in favors from anyone you can think of. But if it’s a paid product, make sure you charge them. “People who are inclined to do you favors are going to be too nice in what they tell you. So if it’s a paid product, charge them.” 2. Research people who might use your product and email them asking them to try it. “Conversion rates are low—maybe 2-3%—so you’ll have to reach out to more people. But you can send targeted emails saying ‘Hey, I just made this new product. I’d really appreciate if you would try it out.’ Most people want to be helpful.” 3. Social media outreach, posting to HN, forums, PR, etc. “The important thing to look for here is a traffic source that is sustainable rather than one big pop that then promptly goes away.” Airbnb is an example of a company that made PR work as an ongoing process—they were able to come up with press stunt after press stunt. But it’s hard. 4. Buy ads and point them at your website. “This is the ‘laziest’ and least impressive thing you can do… This is not what I’d recommend. I don’t know of any startup that has gotten big starting this way. I include it because it’s the idea that most people try.” This may sound basic, but I think this advice is important. Getting your first 100 users is mostly hard work. As Sam puts it: “Everyone thinks they’re going to put up this website, tell one person about it, and it’s going to take off like wildfire. But that’s not what usually happens.” For a more detailed guide on customer acquisition, I’d recommend the book Traction by Gabriel Weinberg (founder & CEO of DuckDuckGo). It walks through nineteen channels you can use to build a customer base, and offers a framework to figure out which ones will work best for your business.

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