Female Founders Conference 2014: Insights from Julia Hartz on Startup Success
This article is a summary of a YouTube video "Julia Hartz at Female Founders Conference 2014" by Y Combinator
TLDR The key to success in a startup is perseverance, making wise decisions based on hindsight, establishing a strong team and culture, and implementing customer satisfaction measurement tools.
Perseverance is key to achieving success in the early years of a startup, as hindsight can make you think you have a great idea.
Pets.com was a symbol of the dot-com bust, reminding us to be frugal, but hindsight can help us make better decisions, starting with choosing the right co-founder.
Despite conventional wisdom, Eventbrite founders started their company in San Francisco and grew alongside 20 other companies in a 10,000 square foot space, proving to be the best decision in hindsight.
Eventbrite shifted from a freemium to a paid-only service, leading to increased conversion rates and a shift towards a truly freemium model based on ticket prices, with 30% of their business coming from paid events and 70% from free events.
Growing a successful team requires wise leadership choices, hiring the best and brightest individuals, and transitioning to a hierarchical formation.
Establishing a philosophy is crucial for leaders, as it serves as an anchor and can evolve over time - Eventbrite's vision is to bring the world together through live experiences.
Eventbrite's culture is driven by its people and described by words like accessible, empowering, social, delightful, dedicated, innovative and genuine, while implementing a customer satisfaction measurement tool called Bain to measure satisfaction of customers and Breitlings.
Sending transparent monthly surveys builds trust and drives a strong feedback loop for team success.