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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    1. Patrick McKenzie‏ @patio11 16 Sep 2018
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      What is your price? You are B2B? Your price is too low. You are B2C? Can I convince you on doing it as a hobby after a B2B product solves your money problem? No? Really, not to be pushy but it will be easier? No, OK, B2C then. Your price is too low.

      2 replies 6 retweets 69 likes
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    2. Patrick McKenzie‏ @patio11 16 Sep 2018
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      Tell me every automated email your business sends right now. I’m going to add five to that list. They go into prod within next week.

      4 replies 2 retweets 40 likes
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    3. Patrick McKenzie‏ @patio11 16 Sep 2018
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      What’s the task you spend the most amount of time on that you hate? How do we decrease the amount of time we spend there? Is there a process improvement or should we outsource it? Should we just not do it? Should we hire someone.

      1 reply 2 retweets 24 likes
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    4. Patrick McKenzie‏ @patio11 16 Sep 2018
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      You are an early stage entrepreneur and have told me you hate “marketing” or “sales.” I’m going to ask some clarifying questions to verify that you’re functionally not doing them right now, then I’m going to emphasize the importance of them to your future happiness running biz.

      1 reply 1 retweet 19 likes
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    5. Patrick McKenzie‏ @patio11 16 Sep 2018
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      You want to raise money. Clarifying question that you want to be on rocket ship growth trajectory for next several years of your life and don’t simply want money. Awesome: your next step is getting into YC. It’s absurdly better than any other fundraising path.

      1 reply 0 retweets 16 likes
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    6. Patrick McKenzie‏ @patio11 16 Sep 2018
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      “Would you do YC in my circumstance, Patrick?” Contingent on you wanting to do a rocket ship trajectory company, which is something that many more people say they want than actually want, unambiguously yes. I have asked ~X00 entrepreneurs whether they’d do it again. One no. One.

      2 replies 1 retweet 22 likes
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    7. Patrick McKenzie‏ @patio11 16 Sep 2018
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      You’ve told me that you’re building X. Who have you talked to about X? Have you had 50 conversations with potential buyers? Did they actually tell you they’d buy it? If they didn’t can I impose on you to keep talking until you find something people actually want?

      1 reply 7 retweets 36 likes
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    8. Patrick McKenzie‏ @patio11 16 Sep 2018
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      (Talk to customers before building the thing is received startup wisdom but, like flossing your teeth, it is easy to observe in the breach, to let the joy of building convince you that 4 conversations is plenty, etc. Also:

      2 replies 3 retweets 23 likes
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    9. Patrick McKenzie‏ @patio11 16 Sep 2018
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      While friends in Silicon Valley model the world like “Everyone knows a collection of startup facts”, there are many paths to entrepreneurship which don’t go through startup culture and therefore invent some of the same mistakes (goodness knows I did), and also education is hard.)

      1 reply 0 retweets 14 likes
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    10. Patrick McKenzie‏ @patio11 16 Sep 2018
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      You’ve told me you are building a services business. Awesome: have you ever sold an engagement? If yes, great, you likely have everything you need on the delivery side of the business and let’s just talk packaging, price, pipeline management, and sales. Your price is too low.

      1 reply 1 retweet 22 likes
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      Patrick McKenzie‏ @patio11 16 Sep 2018
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      You will henceforth ask, immediately at the point where the gig is on and then again after delivery, for: 1) Referrals, referrals, referrals, seriously this point is much more important than the other ones 2) Logo rights 3) References 4) “Can we write up a case study? You OK it”

      6:25 PM - 16 Sep 2018
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      • Josh Kaufman Rahul Ramchandani Kaushik Gala Kevin Cantú Aaron Goodman jasonmonberg Matt Gillooly shawn swyx wang the dragon at fort fuckshit
      2 replies 2 retweets 50 likes
        1. New conversation
        2. Patrick McKenzie‏ @patio11 16 Sep 2018
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          Do you have an explicit cadence of repeat engagements? Do you have retainers? Let’s start getting both.

          1 reply 1 retweet 14 likes
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        3. Patrick McKenzie‏ @patio11 16 Sep 2018
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          Do you have written contracts? With an acceptance period? Does your acceptance mechanism default to indecision or default to acceptance? Let’s change to latter; it’s huge.

          1 reply 1 retweet 25 likes
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        4. Patrick McKenzie‏ @patio11 16 Sep 2018
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          “Client shall make a specific written objection to deliverables within N business days of delivery or they shall be deemed accepted.” Lawyer it up but that’s the business process you want.

          1 reply 1 retweet 36 likes
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        5. Patrick McKenzie‏ @patio11 16 Sep 2018
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          (Decreases by 90% the amount of time you spend chasing Jim who is out on vacation who Taro said is the decision maker with regards to UX issues who Mary said gets a veto because you shipped customer-facing features.)

          1 reply 0 retweets 12 likes
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        6. Patrick McKenzie‏ @patio11 16 Sep 2018
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          How do we position you as a boutique offering for discerning clients near the top of the market, and charge an appropriate premium for that?

          1 reply 0 retweets 21 likes
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        7. Patrick McKenzie‏ @patio11 16 Sep 2018
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          Do you have a peer group of founders? Your life will get much better once you do, particularly if there are a small set you can talk to regularly about your challenges. Find people who want the same things; predict you’ll have the average experience of this peer group.

          2 replies 2 retweets 35 likes
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        8. Patrick McKenzie‏ @patio11 16 Sep 2018
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          After years of orbiting or participating in multiple communities I can’t say this loud enough: pick your peers *very* carefully. You will discover a magic ability to reproduce their successes, failures, and issues which they complain about to their therapist/etc.

          6 replies 21 retweets 115 likes
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        9. End of conversation
        1. Sammy Mwiti‏ @Sammymwiti 16 Sep 2018
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          Replying to @patio11 @sehurlburt

          Following this thread: Great stuff. Keep it flowing.

          0 replies 0 retweets 0 likes
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