Timestamps:

0:45 - What mistakes do Swiss startups make repeatedly when it comes to bootstrapping?

14:20 - Boostrapping and growing fast

17:43 - Constant AB testing

25:48 - Building a solid user base

32:45 - Organic traffic & relying on Google

The Episode in 60 seconds:

Considerations when deciding whether to bootstrap:

Bootstrapping is a long term project which needs time and dedication.
Once you decide to get on the VC train, you can’t go back.
External funding rounds also mean valuation rounds, which you have to keep driving up. A downround can be detrimental.
If you cannot get a top tier international investor, it may not be worth the trouble.

Bootstrapping a user base:

Brand: building trust and recognition is a long term game that will pay off.
SEO / organic search: quality content and a product that truly meets the user needs will go a long way. Of course, this makes you dependent on the search engine algorithm.
Community: know your target audience and build a community around your product.

Running experiments:

Once you have a user base, experiment everything and optimize whatever you can.
Always test on a subset of users to minimize overall impact of negative test results.
Monitor all KPIs, not just conversion (e.g. customer retention, customer lifetime value, satisfaction, etc.).

Don’t forget to give us a follow on our Twitter, Instagram, Facebook and Linkedin accounts, so you can always stay up to date with our latest initiatives. That way, there’s no excuse for missing out on live shows, weekly give-aways or founders dinners!

Opening Your Fan Mail For the First Time - Star Wars Theory