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Lessons Learned from Bootstrapping Liz Pearce, CEO A look back at LiquidPlanner’s journey from inception to profitability @lizprc

Lessons Learned from Bootstrapping

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Follow LiquidPlanner's journey from the early days to profitability.

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Page 1: Lessons Learned from Bootstrapping

Lessons Learned from Bootstrapping

Liz Pearce, CEO A look back at LiquidPlanner’s journey

from inception to profitability

@lizprc

Page 2: Lessons Learned from Bootstrapping

2

Seattle-based start-up

Founded in 2007

1200+ Corporate Customers

50 Countries

20 People

Profitable and Growing

Online Project Management Software

Page 3: Lessons Learned from Bootstrapping

My Background Lesson: ignorance is bliss

Page 4: Lessons Learned from Bootstrapping

Two Guys and an Idea a really great

Page 5: Lessons Learned from Bootstrapping

Forming the

Band

Lesson: who you work with matters

Page 6: Lessons Learned from Bootstrapping

Taking on

a BIG,

Stale,

CROWDED

Market

Lesson: Be different and disrupt status quo

Page 7: Lessons Learned from Bootstrapping

Principles

are

Priceless

Lesson: it‘s a marathon, not a sprint - do the right thing

Honesty and transparency

Innovation as differentiator

Play the long game

Always be learning

Priority-based execution

Page 8: Lessons Learned from Bootstrapping

Founders, Angels, Advisors – oh my!

Lesson: stay lean, focus on solving a meaningful problem

Page 9: Lessons Learned from Bootstrapping

Going to Market Lesson: it’s a lifestyle, not an event

Page 10: Lessons Learned from Bootstrapping

Building a Customer-Focused Organization

Lesson: the customers are the rock stars (not you)

Page 11: Lessons Learned from Bootstrapping

Building a Customer-Focused Organization

Lesson: Be loose with ideas & disciplined in operations.

People Repeatable Processes Tools

Page 12: Lessons Learned from Bootstrapping

Product Reinvention

5 laws of

Social Project

Management

Lean Startup Methodology

Design Obsession

Quality Obsession

Image credit Eric Ries / The Lean Startup

Page 13: Lessons Learned from Bootstrapping

Sprint 13 Summer 2008

Ugly baby.

Page 14: Lessons Learned from Bootstrapping

Sprint 38 Now

Sexy.

Page 15: Lessons Learned from Bootstrapping

Business Model Lessons

1. Make a good product that solves a problem 2. Use a subscription model 3. Price the product so that it makes a profit 4. Make it easy to buy 5. Keep people happy

Page 16: Lessons Learned from Bootstrapping

Hitting Key Milestones

and celebrating them with the team First paid customer

First raving fan

First $100k revenue month

Becoming cash flow positive

First $1M year

Becoming profitable

First $250k revenue month

Best workplaces award

Page 17: Lessons Learned from Bootstrapping

Scaling

Shifting focus from research to growth

Peaceful transition of roles

Investing profits

Evaluating growth funding

Moving & hiring!!

#1 challenge: managing growth

Page 18: Lessons Learned from Bootstrapping

Q&A @LiquidPlanner or @lizprc

facebook.com/LiquidPlanner

linkedin.com/company/LiquidPlanner


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