Category Archives: Launches

Posted On February 13th, 2018 by Crowded Ocean

How startups can avoid post-launch depression

The concept of the “trough of sorrow”, coined by Y Combinator’s Paul Graham, has clicked with Silicon Valley in a big way because it describes the very real trap that many startups encounter as they enter the market. They’ve invested so much time and money in the launch that they neglected to consider all the steps needed to maintain and leverage that momentum. It’s like two parents in the hospital nursery looking over the top of their baby at each other and wondering: Now what do we do?

The trough can be avoided with smart planning focused on content, lead conversion and nurturing with appropriate contingency planning. And you better be planning and executing on all these fronts, because in the first Board meeting after the launch, where you’re anticipating nothing but praise for your highly successful launch, the Board is going to give you your moment in the sun and then ask the same question as the parents of that newborn: Now what are you going to do?

It’s natural for market interest in your company to diminish to some degree in the weeks and months after your launch. But just as you went from 0 to 60 in the past two months, there’s no reason to go from 60 back to 0. This post-launch period is probably the first time that Sales and Marketing are coming under tough Board scrutiny—and it’s a time of transition for the founders as well. The creation process is over—we’re now in the growth phase. Which means everyone will be asking about numbers: lead pipeline and revenue first and foremost but also website traffic stats, lead status, and metrics. So you better be prepared.

Here are five steps to take to help you avoid ‘post-launch depression’:

  1. A 90-day plan: Easier said than done, but no startup team should claim they are ready to launch without a subsequent 90-day sales and marketing plan in place. The quarter after launch should be a fundamental component of the launch plan, its goal being not the interest generated by the launch into awareness, building inbound traffic, leads, and mindshare.
  2. Contingency planning: Every startup should have earmarked cash reserves to weather any post-launch setbacks. For example, what if the two offers you made to customers at launch don’t drive the clicks and conversions you forecast? If customers respond to door #1, rather than doors #1 and #2, do you have the money and resources ready to quickly tack with a new offer, content and promotion? Or, what if your competition leaps out unexpectedly with a new product that is similar to yours but 25% cheaper? Did you do some “what if” thinking prior to launch to help you mobilize a response quickly?
  3. Salute three chiefs: It’s a nice—and accurate—saying about early startups, that ‘Sales is everyone’s job.’ But ‘sales’ is one thing: revenue is another. In this post-launch phase you need a ‘Chief Revenue Officer’ (and it may be you): someone who is driving the sales process and making the company aware of where it stands vs. its revenue goals (which should be shared internally). That CRO should be a customer of the next ‘Chief’: your Chief Content Officer. This person should be continuing to add to the content on your website—fleshing out your market profile. But, more importantly, s/he should be generating fresh content that Sales can use to remain in touch with early customers, advancing the sales process by delivering new content that deepens their understanding and highlights the benefits of your product or service. Finally, someone on your startup team needs to be your “Chief Culture Officer” to keep a watchful eye on how the culture of your startup is evolving. That way, you can ensure that the attributes you aspire to are reinforced and even strengthened as your team expands. The Chief Culture Officer should be a team player who is tapped to “report in” periodically on how the culture is evolving and who can flag concerns for the leadership team.
  4. Content, content, content: As we said in our book, a startup can never have enough content. And that’s especially true post-launch. But with planning, you can build out a reservoir of content to support your demand gen programs, lead nurturing efforts, as well as content that can be quickly customized for new priorities that pop up.
  5. Listen, test, measure, and iterate: After launch, the path to customer traction also depends upon an iterative approach to messages, materials and focus. In other words, test what’s been done to date (and what response it generated), then tune your plan. Successful startup teams go into launch with the idea of listening, testing, measuring feedback and iterating their sales focus, content and tools based upon feedback and learning from the launch.Launch is a milestone in the long life of your company. Don’t make the mistake of thinking of it as the finish line.

Posted On December 22nd, 2017 by Crowded Ocean

How is “momentum” part of a startup’s “secret sauce”?

When a startup team is heading into launch, ‘momentum’ can be that intangible ingredient that helps fill in gaps in execution, blurs missteps and invigorates a team that is flagging from staff shortages, high expectations and competitive pressures.

Success, according to the “Yoda of Silicon Valley”, Sam Altman, CEO of startup accelerator Y Combinator is:

something like idea times product times execution times team times luck, where luck is a random number between zero and ten thousand.”

In other words, who the hell knows. Or, if someone did know the secret to a winning startup, there’d be an algorithm for that.

This 2016 article in the New York Times contrasts the “mojo” of social media favorite Snapchat to the tumbling fame (and valuation) of Twitter. In the recent past, it was Google vs. Yahoo or Slack vs. Hipchat. The point that matters is that momentum can be a powerful force that helps accelerate success in startup teams.

So how do you foster momentum across your team? From our vantage point as CMO guns-for-hire, teams with momentum share a few basic attributes that are always modeled by the founders. These may not be all of the steps to momentum, but they are our top favorites:

  • Goal setting: Everyone on the team knows what the company goals are and how their own job goals support those goals.
  • Accountability: Maybe it’s an individual or maybe it’s a team but there’s an owner for every deliverable and it’s understood across the organization, from top to bottom.
  • No excuses: When mistakes are made, they are acknowledged and the team pulls together to fix them and move on. No finger pointing. No blame.
  • No assholes: When there’s a new-hire who’s a bad fit, culturally, or who brings a toxic style to the office, they never last long. Mistakes in hiring happen, unfortunately. But life is too short to tolerate them.

Posted On December 14th, 2017 by Crowded Ocean

Four reasons to invest in a “soft launch” of your startup

Launch day for a startup is a major milestone for the entire team – founders, investors, customers, partners, suppliers, employees and their families.

In the world of technology startups, launch day is typically when a startup steps out “officially” (out of stealth, out of beta) to make its product or service widely available. Launch says the startup is ready to stand up to public evaluation and scrutiny of its product and value; typically, it is also when the team has invested in PR to generate favorable coverage and inbound traffic to garner visibility that can turn into new business.

But sometimes a startup team chooses a “soft launch.”

So what is a “soft launch” and why do it?

A soft launch is usually phase one of a two-phase launch that involves a greater focus on the company than on the product. It may focus primarily on the founding team, its space and the funding it has received. It may also involve a “limited” release of the product but without significant details.

Here are four motivations for a soft launch:

Recruiting – startups, especially in the super-heated and super-competitive job market of Silicon Valley, will often “soft launch” in order to use the visibility it generates to be able to recruit top talent to build out their team.

Competition – with an ear to the ground, a startup may believe that a competitor is going to beat it to market. In order to be first – to define the market need on their terms and to set the stage for why their technology is superior – many startups will launch in two phases, with a soft launch intended to blunt the competition and relegate them to followers.

Buzz-building – to be the shiny new thing in tech – even in a less sexy, geeky market segment – can be a very valuable, momentum-building period. Social media and press buzz can help a startup accelerate recruiting, fundraising and customer development.

Enterprise-ready – large enterprises are more sophisticated these days about the value of new technology from young startups. But that doesn’t mean they want to risk a vital portion of their IT operation and budget on a product from a newly minted startup. But, the market validation and favorable coverage by analysts and press of a soft-launch can convey a great deal of legitimacy to a young startup that can help it close pivotal deals with early-adopter, brand-name enterprise customers.

 

Posted On November 28th, 2017 by Crowded Ocean

Anatomy of a Successful Startup Launch

Ask anyone in Silicon Valley and they’ve got their theory about how to launch a startup. There are plenty of startup founders (Slack, Atlassian) and industry watchers who will proudly boast that you can launch a unicorn without marketing. But then there are the 90 percent of startups that have to dig in and build their customers and grow their enterprise click by click, demo by demo, free trial by free trial.

Here’s our advice for the 90 percent:

1 – launch with a cross-functional team – According to a feature in the Harvard Business Review, 75% of cross-functional teams are dysfunctional. That stat caught our eye because the heart of every successful startup launch is the launch team—which by its very nature is cross-functional. That’s product, support, sales, marketing, and the CEO/founder coming together to introduce a new solution that solves a real pain point. The dependencies, tradeoffs and decisions that need to be made to meet the goals of launch can be made faster and more effectively with a cross-functional team. And with an experienced marketing pro chairing the team, your startup can banish dysfunction.

2- tops-down support is essential – if you want your launch to happen fast, be sure to include the CEO or co-founder on the cross-functional launch team. The CEO is a member of the launch team, not its leader. The leader is your head of marketing or CMO. You want the CEO there to reinforce the importance of goals, deadlines and accountability, and when tough decisions need to be made, it’s easier when the CEO is at the table not coding or pitching new customers. Without the CEO engaged, the CMO will likely have to spend more time socializing options and hunting down decisions and less time getting everything done.

3 banish pixel polishing – part of the Steve Jobs legacy is his famous (and infamous) attention to the details of Apple product design that bordered on obsession, a habit we call “pixel polishing.” Now Jonathan Ive and Elon Musk are celebrated for their same rabid focus on product details — admirable but a huge obstacle for a startup preparing to launch. A startup team in launch mode doesn’t have the time or the money to afford to do any pixel-polishing. Just say no to pixel polishing and yes to “good enough.”

4 – beware nomadic board members– when board members start chiming in to “help” give feedback on messaging and marketing strategy, that’s often problematic. In fact, when we see board members dropping in to the startup’s offices frequently prior to launch, it’s usually a red flag. That often signals that the CEO is not strong enough to manage his board out of the way of his team. In launch mode, feedback can be hugely valuable. But, it’s better to get feedback from early customers, not board members.

5 – bring PR to the table early — there are strategic PR firms that can participate “upstream” with startup founders to nail down the positioning and messaging that’s core to launch. They can bring their experienced outsider perspective to build a solid story that will attract attention and followers among media, analysts and industry influencers. Then, there are “downstream” PR firms that are waiting to be handed the story. Hire the former, not the latter. Launch is too important not to invest in hiring an experienced PR team that will challenge assumptions, build and test the message and advocate their point of view at the table.

6 it’s never too early to build content – when a launch is delayed, it’s usually one of three reasons: product issues, customer problems, content delays. You can never have enough content and the way to avoid delaying the launch because of late or missing content is to start launch planning early. No, you don’t want to start drafting content before the messaging and customer targets are baked. But since iteration is a way of life in startup marketing, start drafting content early to hit your deadlines.

7 website UX trumps brand – if the founder starts talking about favorite brand colors and fonts, that’s another red flag. The most important thing for your launch website is designing the information architecture and content to drive conversions. Yes, design is integral to a successful site. Yes, building your brand is a process that starts with launch. But you need to focus on content and conversions first, or you’ll wander off into discussions of fonts and colors. See dangers of pixel polishing above.

8 anticipate the trough — before you launch, be sure to have at least two months of demand gen programs defined, funded and queued. Otherwise, you run the risk of allowing all of the visibility, brand awareness and site traffic from early adopters to vaporize. To leverage the blood, sweat and tears of launch and leverage early market momentum to build early sales, avoid the post-launch trough with smart planning.

 

Posted On November 7th, 2017 by Crowded Ocean

Content, Customers, Competition, Conversions – a mantra for startup marketing

As we work with startups that are preparing to launch and that are, by definition, strapped for time, talent and resources, we find ourselves turning to the mantra of the four C’s: content, customers, competition and conversions. These four priorities should dominate the focus of your startup marketing team as you prepare to launch:

Content – It’s a rule of thumb in B2B startup marketing that there is never enough good content to tell your story. For written (not rich media) content, that means well-crafted, easily accessible, visually-rich content that drives your message home for your different targets (buyer, partner, analyst, etc.) and moves them through the sales cycle. That’s why we urge every client to start as early as possible to lay out a plan for content so that there is ample time to write, edit and review your content and to ensure that every piece is designed to move a prospect to the next stage in the sales process.

Planning for more time, somewhat conversely, also allows for your content to “gel” so that they can be shorter, pithier and more substantive. And more time will allow your content team to plan for ways to repurpose, say, that 5- to 7-page white paper into blog posts, contributed articles, and perhaps newsletter copy.

When it comes to creating a new website for launch, we know from experience that it’s almost always the content that lags, not the design or coding. That’s why we recommend you start your content development early.

Customers – It should almost go without saying that the customer needs to be front and center as a startup team prepares to launch. Customers are essential public validation (as logos on your website, quotes for the media, case studies for sales) for market launch that are almost always a prerequisite for launch. To make that customer focus a reality, the Chief Revenue Officer is involved in our launch planning and deliverables from day one.

Competition – Every startup preparing to launch benefits from having an enemy. Having a clear competitor gives your team a target to focus on and it helps to force your team to shift its aim from the internal development and early support issues to external customer development and sales. We recommend assigning someone on your team to study and monitor your competition and to regularly report on their progress to the rest of the startup to help your team be externally focused on sales growth and customer satisfaction.

Conversions – When preparing to launch your startup, it can be an endless distraction for a startup team to dive into logo design, taglines, and other elements of brand, especially the website. It’s a common wasteful detour for a startup team designing their launch website to engage in what we like to call “pixel polishing.” (that’s a form of “camel marketing”, or design-by-committee) That’s why we steer our clients to think about conversions instead. What is the path through the site for your target prospect? At every step through the site, what action do you want your target to take? What content do you have to move your target through the sales process? In other words, how do you convert a website visitor into a sales prospect as quickly as possible.

If your team is preparing to launch, repeat after us: content, customers, competition and conversions.

Posted On September 5th, 2017 by Crowded Ocean

How many assholes does it take to tank a startup?

Below is a past blog post that triggered many favorable comments from readers. So, we’re bringing it back for our fans…

Despite the celebrated “no assholes” rule that many founders claim defines the culture of their startup or is a guiding rule for interviews/hiring, our experience is a lot of assholes slip through the net.

Here are some of the types that we’ve encountered:

Dick, the brilliant coder: This is a stereotype, to be sure, but where do you think stereotypes come from? These are the socially- and hygienically-challenged guys who live in their own bunker and aren’t allowed to interface with customers. The largest % of assholes is among the technical group, many of whom lack both the social skills and the self-awareness to even know they have a problem. And they get to skate because of a simple fact: no product, no company. Unfortunately, they will hire in their own image and then you’ve got an engineering team of assholes.

Dick, the sales chief: Just as CEOs will defend obnoxious behavior by citing Steve Jobs, VPs of Sales will defend their boorish behavior by saying the pressure they’re under to drive revenue (often when the product is late or still being created) entitles them to be an asshole. Maybe it’s in the DNA, but, unlike the technical founders, these guys (and they’re almost always guys) can control themselves. They just choose not to..

Dick, the board member who is a self-appointed expert in marketing: This guy surfaces when launch plans, timelines and fundamental positioning and messaging are being finalized. Because he is a board member, he can claim the freedom to exit the boardroom and wander the halls, opining about everything from product nomenclature to website structure. Under the guise of ‘just trying to help’ he (and they’re almost always guys) can either hijack or move the launch off its track. Trust us, we’ve seen it. If the CEO lets this go on, it can be incredibly destructive to the team.

Board members can bring pivotal insights and advice at critical points in the lifespan of a startup. But they never seem to offer advice as “a” point of view. It’s always “the” point of view (or an opinion that the offer as ‘fact’) that can sway the startup team in a way that shuts down conversation or consideration.

If you don’t believe us when we say assholes in Silicon Valley are a problem, read the book from 2007 by Dr. Robert Sutton. Or, better yet, take the self-assessment by none other than Guy Kawasaki.

 

Posted On May 16th, 2017 by Crowded Ocean

Building a startup: ten startling facts

High growth startups are very different from other businesses. And they die remarkably young. In fact, nine out of ten startups fail within their first 24 months of operation.

Since our founding in 2008, we’ve worked with more than 50 companies and 45 startups. What makes startups so unusual? Let’s take a closer look:

  1. 25% of startups were started by immigrants  Source: Reuters, 2016
  2. By 2013, the median time to IPO was 7.4 years  Source: NVCA, 2014
  3. By the time startups raise the third round of financing, 52 percent of founder CEO’s have been replaced  Source: New York Times, 2012
  4. More than half of U.S. unicorns – startups valued at $1 billion or more – have at least one immigrant founder  Source: Wired, 2016
  5. VC firm Andreessen Horowitz funds about 20 startups a year out of 2000 warm referrals  Source: The Macro, 2016
  6. The Y Combinator accelerator is more exclusive in its acceptance rate than Stanford University  Source: The New Yorker, 2016
  7. Only 20% of the Inc 500, the fastest growing private companies, raised outside funding  Source: The New Yorker, 2016
  8. Americans in their 50s and 60s make up a 24.3% share of entrepreneurs who launched businesses in 2015, up from 14.8% a decade ago. And, 70% of startups founded by people age 50 or older last longer than 3 years, versus 28% for those younger than 50  Source: Wall St. Journal, 2016
  9. The majority of startups die after an average of 20 months and $1.3 million in financing  Source: New York Times, 2016
  10. In a 2016 survey of 700 founders, 31% said they didn’t intend to IPO and 69% expected to be acquired  Source: First Round, 2016

Posted On December 28th, 2016 by Crowded Ocean

Book excerpt: how to launch a startup by Hogan and Broadbent

Our new book, The Ultimate Startup Guide, is launching January 23, 2017. That’s less than a month, people! Check out an excerpt from Chapter 15, “Launch” below. It was originally published in VentureBeat.

Screen Shot 2016-08-12 at 8.04.28 PMEveryone in Silicon Valley has their own theory about how to launch a startup. There’s the “Soft Launch,” the “Rolling Launch,” the “Steady Drumbeat Launch.” You get the idea.

Then there’s the founder who brags that he didn’t spend a dime on marketing and sold his company for a gazillion dollars (that rarity — of which WhatsApp is a great example — is responsible for more company failures than we can count).

But for 98 percent of us — the ones who haven’t caught the market at the perfect time with the perfect product — there is “The Launch.” It’s your coming-out party, the milestone that moves your company officially from stealth or “in the bunker” into the public marketplace with a generally available product. In other words, this is it. Don’t screw it up.

To make the most of that once-in-a-lifetime opportunity requires planning, care, collaboration, and creativity. Even in the era of The Lean Startup, with its iterative approach to tuning your product feature set and product applications based upon active customer feedback, nailing the official debut of your company is a huge deal. It’s possible to survive a botched launch but not likely.

Some startups launch to “legitimize” their business in the eyes of customers and potential investors. Everything that takes place prior to your launch — even if you have a preliminary website — can be regarded as trial and error. Typically, your launch is your announcement to a wide variety of audiences — customers, investors, market analysts, the press, the competition — that you’re serious and open for business. You’ve polished and defined your market message through components like your website, sales content, and PR. Perhaps you’ve even upgraded your office space. All because customers want to do business with a brand they trust, one that they believe has staying power. Same for the next round of investors. Same for employees. Every startup wants to look larger than they are, and an official public debut (including favorable press coverage) can go a long way to achieving those business goals.

There are other reasons to launch. Some startups will tell you that their launch was key in attracting the right talent to build their team in a competitive job market. Others say that, post-launch, they were approached by investors or potential partners who wouldn’t return their calls prior to launch. Bottom line: Your launch is about investing in getting your story out into the marketplace in a powerful, differentiated, memorable, and unified way in order to connect with stakeholders so you can grow your business and scale your company.

The soft launch

In contrast to a one-time, major launch, some companies will choose a soft launch, which is usually phase one of a two-phase launch that involves a greater focus on the company than on the product. It may focus primarily on the founding team, its market space and the funding it has received. It may also involve a limited release of the product but without significant details.

When is a soft launch appropriate? Here are four reasons to go that direction:

1. Recruiting.  Startups, especially in the super-heated and super-competitive job market of Silicon Valley, will often soft launch in order to use the visibility it generates to be able to recruit top talent to build out their team.

2. Competition. A startup may believe a competitor is going to beat it to market. In order to be first – to define the market on its own terms and to set the stage for why its technology is superior – the startup will launch in two phases, with a soft launch intended to blunt the competition and relegate them to second-to-market.

3. Buzz-building. To be the shiny new thing in tech, even in a less sexy, geeky market segment, can be a very valuable, momentum-building period. Social media and press buzz can help a startup accelerate recruiting, fundraising, and customer development.

4. Enterprise-ready. Large enterprises are more sophisticated these days about the value of new technology from young startups. But that doesn’t mean they want to risk a vital portion of their IT operation and budget on a product from a newly minted startup. But, the market validation and favorable coverage by analysts and press of a soft launch can convey a great deal of legitimacy to a young startup that can help it close pivotal deals with early-adopter, brand-name enterprise customers.

The un-launch

Companies like Slack and WhatsApp have famously boasted that they spent next to nothing on marketing, that they never launched, that they just released their new product “into the wild” to gauge public reaction. This strategy is one that has worked well for a very select group of startups. It’s not a “thumb your nose” strategy, where the company is deliberately flaunting established market presence. Instead, it’s an experiment that goes so well that it obviates the need for the traditional launch. So if you want to go that route, take your shot. Just remember that press and analysts do their research, and if you come back to them because there was limited market response to your “un-launch,” they normally won’t cover you, since you’re yesterday’s news.

The serious launch

You need a lot of things lined up in order to launch. Here are the key ones:

Launch leader: The heart of every successful startup launch is the cross-functional team chartered to build the story and tools to put your startup on the map. While marketing is in charge of the launch, it’s an all-hands effort, with the founders and representatives from product, support, and sales joining the marketing team to craft the value and benefits of a new solution that solves a real pain point.

While everyone still has their day job (finalizing product, supporting early customer trials, and staffing critical job functions across the company), the launch will only come off if it is Job One for the entire company. To that end, we recommend creating the position of Launchmeister and telling everyone (founders included) that during launch period everyone (again, founders included) reports to the Launchmeister. Without that commitment you’ll either miss your launch date (which looks bad) or produce a half-ass launch (which looks worse).

We’ve covered who should be involved in the launch. There’s also the matter of who shouldn’t be. When board members, or well-meaning investors (or the founder’s spouse) start chiming in to “help” with such launch items as messaging, materials, or taglines, that’s problematic. In fact, when we see board members dropping into the startup’s offices frequently prior to launch, it’s usually a red flag.

PR: An important goal of any launch is favorable media coverage. Which means investing in PR. You’re going to need PR earlier than you think — and pay more for it than you want. By “earlier than you think,” we mean that, ideally, your PR agency has been in on the positioning and messaging process from the beginning. Ideally, they’ve even been a participant in the process, giving their feedback on what their market — analysts, press, and market influencers — will accept/believe and what won’t play with them.

This is also the point at which you find out how good your agency is. In launching as many startups as we have, we’ve worked with too many PR agencies to count. And the most important thing is to have an active partner in this process.

Product: Unfortunately, almost every launch will hit a snag. If a launch date slips, it’s usually one of three reasons: product issues, customer problems, content delays. Products have a nasty habit of taking erratic paths to completion. In the technology world, the unstated expectation is that products will slip at least twice on their way to market. Plan accordingly.

Customers: The union of product and customer — especially in early days — is a delicate one. On the one hand, early adopters are pioneers, willing to take on an incomplete product so that they can play an active role in its finishing. But early adopters are also notoriously squirrelly, sometimes working without the knowledge or approval of their company. So, we have a rule of thumb: We won’t launch a startup unless/until it has three referenceable customers — people who will take calls from press and analysts and say glowing things about their experience with the product, both in its current state and long-term. There are exceptions, such as the secretive cyber-security market, where getting companies to deliver a public “testimonial” is problematic. (Press, in particular, won’t write about a product without a customer as reference; they’ve been burned too often by company claims about their product that simply aren’t true.) The reason for requiring three is that there’s at least a 50 percent mortality rate of referenceable customers due either to product malfunction or company policy about talking to the press.

Content: In today’s arena of immediately available online information, the adage that “you can never have enough content” is true. It’s true for your website, simply as a means to make it richer (keeping viewers on-site longer, building brand loyalty), but it’s even more true for your sales efforts. These days, unless you’re selling an impulse-buy product, you need to nurture your prospects. It’s estimated that the normal enterprise sale requires 5-7 interactions (or touches) with your prospect. That means, unless you want to approach them empty-handed, with nothing new to justify the contact, you better have 5-7 pieces of content (it could be a white paper, data sheet, a demo video, a copy of your CEO’s latest article, a new blog on topic, etc.) available at launch and beyond. So don’t let your launch be delayed — or incomplete — because of a lack of content.

Demand programs: In the run up to launch, we recommend that your launch team develop at least three months of demand generation programs so that you have some “canned” programs available subsequent to launch that can help turn the increased awareness and interest generated by launch into sales leads. Otherwise, you run the risk of allowing all of the visibility, brand awareness, and site traffic from early adopters that respond at launch to go unleveraged.

Measurement: On the quantitative front, look at the conversions that were planned into the website and whether you are actually seeing the signups, downloads, and registrations you were aiming for. On the qualitative front, it’s about what the sales and customer support/success team are reporting. What are they actually hearing in conversation with customers and prospects, live and on social media? And does it validate or contradict what the data from your website is telling you.

Posted On December 6th, 2016 by Crowded Ocean

Building your startup: start with the press release

A VC partner whom we greatly respect, and who shared some valuable lessons that we incorporated into our book (that’s The Ultimate Startup Guide—which we’re shamelessly thinkingstrategpromoting here—due out Jan 23) approached us a while back with an interesting proposal. In conversations with him about past shared clients, we talked about what it takes to get founders’ attention—to really make them commit to what they’re all about and translate that essence into the core positioning of their company. And we all agreed that it was the press release. Powerpoint can be changed, whiteboards are too vague. But seeing your company, product and news and the claims behind them in a legal-looking doc—that seems to get the attention.

Company building by press release

So this VC told us that, for his next company, he wants us to come in and do our regular workshop. But, unlike most of our engagements, where we come in 3-4 months before the company (or product) launch, he wanted to do the workshop at the company’s founding. Then based on what we heard in the workshop, we were to write (with the involvement of the team) the press release for the new company and its product. And then he wanted his team to work to make the claims and promises in the press release a reality.

Screen Shot 2016-08-12 at 8.04.28 PMExpand a tactic of PR firms and web design firms

It turns out that this is a tried-and-true planning practice already employed by many public relations firms and web design firms. PR firms will ask the management team during the message planning phase to identify the key headlines and takeaways for the reader of targeted media that you want to compel to cover your news. This exercise can help focus everyone on simplifying your message and making it consistent while also identifying different approaches or angles to your story.

Web design firms typically have an input session where they will ask the management team to identify the key takeaways of a visitor to your future website. They are looking for words, tone, attitude and treatments. And some of this is the “same stuff” that writing that press release early will help identify and make consistent across your marketing tool set.

Posted On October 18th, 2016 by Crowded Ocean

Is “momentum” part of the secret sauce of startup success?

When a startup team is heading into launch, ‘momentum’ can be that intangible ingredient that helps fill in gaps in execution, blurs missteps and invigorates a team that is flagging from staff shortages, high expectations and competitive pressures.

moneySuccess, according to the “Yoda of Silicon Valley”, Sam Altman, CEO of startup accelerator Y Combinator is:

something like idea times product times execution times team times luck, where luck is a random number between zero and ten thousand.”

In other words, who the hell knows. Or, if someone did know the secret to a winning startup, there’d be an algorithm for that.

This recent article in the New York Times contrasts the rising “mojo” of social media favorite Snap (the channel formerly known as Snapchat) to the tumbling fame (and valuation) of Twitter. Not too long ago (before we moved to a new slugfest) it was Google vs. Yahoo or Slack vs. Hipchat. The point that matters is that momentum can be a powerful force that helps accelerate success in startup teams.

So how do you foster momentum across your team? From our vantage point as CMO guns-for-hire, teams with momentum share a few basic attributes that are always modeled by the founders. These may not be all of the steps to momentum, but they are our top favorites:

  • Goal setting: Everyone on the team knows what the company goals are and how their own job goals support those goals.
  • Accountability: Maybe it’s an individual or maybe it’s a team but there’s an owner for every deliverable and it’s understood across the organization, from top to bottom.
  • No excuses: When mistakes are made, they are acknowledged and the team pulls together to fix them and move on. No finger pointing. No blame.
  • No assholes: When there’s a new-hire who’s a bad fit, culturally, or who brings a toxic style to the office, they never last long. Mistakes in hiring happen, unfortunately. But life is too short to tolerate them.