YC
Updates for Startup School 2019 and Office Hours with Kevin Hale
@ Y Combinator
07/03/19
Takeaways
KH
Kevin Hale
07/03/19
@ Y Combinator
In 2019, Startup School will be hosted by me and Adora, and it will be a response to the feedback and learnings from 2018.
KH
Kevin Hale
07/03/19
@ Y Combinator
Last year, over 15,000 people registered for Startup School, with about 5,000 graduating, and 391 of those interviewed for the last YC batch, resulting in over 60 accepted companies.
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Kevin Hale
07/03/19
@ Y Combinator
83% of participants in Startup School were pre-launch, with 52% working full-time and 63% being single founders, which was surprising to us.
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Kevin Hale
07/03/19
@ Y Combinator
We aim to create a new version of Startup School that better fits the diverse backgrounds of participants, focusing on helping them evaluate ideas like an investor would.
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Kevin Hale
07/03/19
@ Y Combinator
We realized that over 6,000 single founders were looking for co-founders, so we are creating a directory to help them connect and build relationships during Startup School.
KH
Kevin Hale
07/03/19
@ Y Combinator
For international participants, we will record lectures and host meetups in the top 18 cities where people participated in Startup School, allowing for direct interaction with YC partners.
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Kevin Hale
07/03/19
@ Y Combinator
The online community will facilitate connections among participants, helping them find co-founders based on time zones and progress levels.
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Kevin Hale
07/03/19
@ Y Combinator
We are changing the group structure so that participants are matched with others who are actively engaged, improving the quality of interactions and advice.
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Kevin Hale
07/03/19
@ Y Combinator
All content from Startup School will be available for free on YouTube, as we believe the lectures are less important than the community and structure we provide.
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Kevin Hale
07/03/19
@ Y Combinator
This year, lectures will be shorter, around 20 minutes, focusing on practical, tactical information backed by case studies to ensure relevance and applicability.
KH
Kevin Hale
07/03/19
@ Y Combinator
In the early days of Wufoo, we prioritized responding to every customer inquiry within 7 to 12 minutes, often by the founders themselves, to ensure a great customer experience.
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Kevin Hale
07/03/19
@ Y Combinator
We built a strong feedback loop by having the founders handle customer support, which helped us improve the product based on real user needs.
KH
Kevin Hale
07/03/19
@ Y Combinator
Wufoo's user interface was designed to be intuitive and simple, allowing users to create forms quickly without needing technical skills, which set us apart from competitors.
KH
Kevin Hale
07/03/19
@ Y Combinator
We launched an interactive demo of Wufoo before the official product, which attracted over 100,000 users and helped us gauge interest and collect feedback. Building an audience before launching a product is crucial; it allows you to start with a trusted base of potential customers.
KH
Kevin Hale
07/03/19
@ Y Combinator
When starting Wufoo, we focused on creating valuable content through our blog, which helped us build a readership of over a hundred thousand subscribers before launching our product.
KH
Kevin Hale
07/03/19
@ Y Combinator
Our freemium model allowed Wufoo to spread organically; users would see 'powered by Wufoo' on forms they created, which helped us gain visibility.
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Kevin Hale
07/03/19
@ Y Combinator
Embedding forms on other websites was a unique feature that helped Wufoo gain traction, as it allowed users to share our product without redirecting their audience.
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Kevin Hale
07/03/19
@ Y Combinator
The design of Wufoo was intentionally casual and friendly, which made it more appealing and memorable compared to other business tools.
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Kevin Hale
07/03/19
@ Y Combinator
In the early days, we relied on ease of use and a friendly interface to differentiate Wufoo from competitors, who often had more complex and less engaging products.
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Kevin Hale
07/03/19
@ Y Combinator
Investors primarily look for great teams and well-thought-out ideas; having a compelling story can be just as important as traction when seeking funding.
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Kevin Hale
07/03/19
@ Y Combinator
Entering an unsexy market can be advantageous because it often means less competition, allowing a strong product team to thrive.
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Kevin Hale
07/03/19
@ Y Combinator
It's important to find joy in the work you do, even if it seems unsexy; the key is to make it your own and take pride in the details.
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Kevin Hale
07/03/19
@ Y Combinator
Achieving product-market fit is not a single moment; it's an ongoing process, and for Wufoo, it was about consistently meeting customer needs and adapting to feedback.
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Kevin Hale
07/03/19
@ Y Combinator
In the early days of Wufoo, we focused on creating a great customer experience by ensuring that everyone in the company was passionate and involved in customer support, which helped maintain our culture and efficiency.
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Kevin Hale
07/03/19
@ Y Combinator
Achieving product-market fit can feel like you're out of control, but it's important to recognize that not every company will experience explosive growth; some can thrive while maintaining control over their destiny.
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Kevin Hale
07/03/19
@ Y Combinator
When gauging product-market fit, if you have to ask whether you've achieved it, you likely haven't. It's crucial to be honest about your startup's performance and growth potential.
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Kevin Hale
07/03/19
@ Y Combinator
To determine the size of your market, conduct thorough research on demographics and industry studies. Understand if your business model can realistically support significant revenue growth.
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Kevin Hale
07/03/19
@ Y Combinator
In startup school, it's essential to participate actively in group sessions to practice your narrative and storytelling, as clear communication is vital for attracting interest and investment.
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Kevin Hale
07/03/19
@ Y Combinator
Finding a co-founder is akin to dating; you should take your time to understand each other, share small tasks, and build a relationship before committing to a long-term partnership.
KH
Kevin Hale
07/03/19
@ Y Combinator
It's important to be proactive in seeking co-founders and to engage with multiple people to find the right fit, as my own journey into entrepreneurship began through meeting my co-founders.