Review: Aaron Patzer (mint.com) - The $170 Million Idea: From Idea to Exit in 3 Years

Summary


Mint: The product is FREE, we get money if we can help you save money. Our ad helps you save money: e.g. Save $200 on interest if you switch your current mortgage to this one.

• Validate your idea
• Prototype
• Build the right team
• Raise the funding

Real Business: Business is creating value (not just a feature)

• Problem people will still have in 5-10 years
• Billion dollar market
• Sustainable advantage

Pasychology of Startup: Listen to Frank Sinatra - That's Life to counter Depression

• Quit your job
• Self doubt is okay
• Work flat out hard
• Can be very lonely: working in a room in a new city alone for 7 months, thinking you could change the world could be pretty daunting

Pre-launch Evaluation: +500K per Engineer, -250K per Business Person

1st 5 hires are Engineers, 6th person is Marketing

Profit Projection = Relistic Estimated User Base * Revenue per Year