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How to Get Your First Customers | Startup School
This is an AI-generated summary of a YouTube video "How to Get Your First Customers | Startup School" by Y Combinator!

Founders should focus on demos, outreach, and doing things that don't scale to close customers and drive growth when starting a startup.

  • πŸš€
    00:00
    Founders must manually recruit customers and find creative ways to do so to get their startup off the ground, as explained in Paul Graham's essay "Do Things That Don't Scale".
    • Paul Graham's essay "Do Things That Don't Scale" explains how Airbnb used the Y Combinator mindset to get their feet off the ground and become a successful startup.
    • Founders must manually recruit customers and continuously find ways to do so, as pushing a button on an advertising network is not enough.
  • πŸš€
    02:18
    Founders should stay the course, learn sales, and focus on the minimum viable product to reach market fit.
    • Most companies launch on Product Hunt or Hacker News and then experience a decrease in energy as early adopters look for something new.
    • Founders must stay the course and not give up to reach the promised land of market fit.
    • Founders should learn how to do sales to understand their customers and have full control of their startup destiny.
    • The Brex founders asked themselves what the minimum product they could build to be useful to other startups was, and then signed up the first 10 customers.
  • πŸ’³
    05:32
    Brex provides a corporate credit card with no personal guarantee and no annual fees for tech companies, and encourages plain text emails to address customer issues.
    • Brex offers a corporate credit card with no personal guarantee and no annual fees, targeted at technology companies.
    • Write concise emails with clear language addressing the customer's problem, using plain text instead of HTML formatting.
  • πŸ“Š
    07:19
    Track prospects and store contact info in a CRM to ensure successful customer retention.
    • Include social proof and simple website information about your product with screenshots and bullets to show, not tell, your expertise.
    • Prospecting or lead generation is the first step in the sales funnel, which involves making a list of customers to reach out to.
    • Track industry, company, contact info, and onboarding status of prospects to ensure successful customer retention.
    • Storing contact information in a CRM software is a good idea and can be outsourced if you know what you're looking for.
  • πŸ’°
    10:31
    Focus on the easiest customers and leverage your network to make sales easier.
    • Focus on the easiest customers and prioritize those who are most likely to close, while taking advantage of your network to make sales easier.
    • Startups are easier to sell to due to their short decision-making lines and lack of bureaucracy.
  • πŸ’°
    12:35
    Focus on finding the right customer and offer a money back guarantee instead of free trials in B2B sales.
    • To reach early adopters, you have to send more outbound messages and focus on them instead of trying to convince everyone to become an early adopter.
    • Customers paying you money is a great sign that you're providing them real value, so resist the fear of getting a no because of price and focus on finding the right customer.
    • Go for a money back guarantee and opt out option instead of offering free trials in B2B sales.
  • πŸ“Š
    15:24
    Track conversions with a CRM to understand drop-off percentages and identify areas of improvement.
    • Track conversions when sending outbound emails to understand drop-off percentages and identify areas of improvement.
    • Track data to measure success when launching a product or doing sales.
    • You need to track your sales conversion rate with a CRM to understand why sales isn't working and to identify early adopters.
  • πŸ’°
    18:22
    Focus on demos, outreach, and doing things that don't scale to close customers and drive growth when starting a startup.
    • Founders should do demos to close their first customers, asking questions to understand customer pain points and using the product to drive growth.
    • Outreach is key to success in sales, and outsourcing sales is not the answer.
    • I recommend Apollo.io, Close.com, Pipedrive, Hunter.io, Founding Sales book, and Lineage Newsletter.com for sales tools and resources.
    • When starting a startup, focus on doing things that don't scale instead of jumping straight into scalable growth channels.
    • To get started with growth, identify where your target audience is online and use personal networks, sales, SEM, SEO, or virality/referrals to reach them.
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How to Get Your First Customers | Startup School
This is an AI-generated summary of a YouTube video "How to Get Your First Customers | Startup School" by Y Combinator!