In honor of the 10th anniversary of launching Twitch…
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Highlights
- If your product is for consumers, either it’s a daily habit, it’s used consistently in response to an external trigger, or it’s not going to grow.
- The five growth strategies are high-touch sales, paid advertising, intrinsic virality, intrinsic influencer incentives (Twitch!), and platform hacks.
- For internet companies, growth is more important than profit. It’s very rare for a company to achieve massive scale of use, and then die because they can’t figure out the economics. The reverse is common.
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Over time, develop a huge vision that’s bigger than any specific thing you’re working on. Put it as far in the future, and make it as huge, as you have the guts to.
- Three ways to have a startup idea: something you want, something you’ve directly experienced others needing, something you’ve invented through analytic thought. They are listed in order of increasing risk.
- Do the job before you hire for it. You know nothing about X, so you think you need to hire an expert in X. But you can’t tell which experts are any good until you’ve learned enough to be dangerous yourself. (Exception: cofounders)