Friday, January 13, 2012

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


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

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