Peter Coppinger Teamwork Happy Consultant to Unhappy Product CEO BoS2016
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Peter has done a few uncommon things in his career. He built a product business out of a consulting business, he has built a company to $12 million ARR without external funding, as a developer, he has consistently undervalued the other elements a business needs to be successful. Though it has turned out OK, Peter discusses some of the challenges of making the jump from consulting to a product business and consider some of the key things that he wished he had done sooner as he built Teamwork.com www.businessofsoftware.org
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Peter Coppinger Teamwork Happy Consultant to Unhappy Product CEO BoS2016
- 1. From Happy Consultant Developer to Unhappy Product CEO
- 2. Peter Coppinger Co-Founder & CEO at Teamwork.com @irlTopper
- 3. High Performance Teams Run on Teamwork
- 4. Manage Projects and Get Work Done
- 5. Deliver Better Customer Support
- 6. Chat Built for Better Teamwork
- 7. Used by Over 22K Companies All Around The World
- 8. 0 250000 500000 750000 1000000 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Jun 2011 Dec 2011 Jun 2012 Dec 2012 Jun 2013 Dec 2013 Jun 2014 Dec 2014 Jun 2015 Dec 2015 Mar 2016 We’re doing over $12 million in annual sales
- 9. So.. What is the talk about?
- 11. Part 1 The Hamster Years
- 14. CFTagStore.com
- 15. Akari Software
- 18. THE IDEA WAS BORN
- 19. "Ted, I’ve been thinking the exact same thing"
- 20. Part 1 - Key Takeaways • Consultancy sucks. (If you are doing consultancy, increase your prices & charge for the extras) • Don’t target a small market! • Don’t sell software components to developers. • Consultancy-ware software is no fun to build or sell. • Treat your customers with respect & listen to their suggestions. • Sometimes you've got to go with your gut.
- 21. Part 2 If you Build it They Will Come. Right?
- 22. Finding the Time
- 23. Hackedy hack hack. Product Design? Specs?
- 24. Preparing for Launch Eat your own Dog Food
- 26. Worst Product Launch Ever!
- 28. Real Work - Ugggghh
- 29. Marketing?! Who needs Marketing Anyway? Hackedy hack hack
- 31. • We built a great product • We treated our customers like honored guests • We took every suggestion onboard We did only 3 things right
- 32. Riding the Long Slow SAAS Ramp of Death $0.00 $7,500.00 $15,000.00 $22,500.00 $30,000.00 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Sales in Year 1 $13,017 Sales in Year 2 $100,426 Sales in Year 3 $300,014
- 33. Our Magic Number: $30k MRR
- 34. Web Dev Business for Sale. Price: Don’t Drop the Ball
- 35. Side Note on Self-Funding It has never been cheaper to make software
- 38. Panic!
- 39. Hitting $1 Million ARR 50 Months after we launched December 2011
- 40. Part 2 - Key Takeaways • Make the time to build your product. Start right now. • Start with Research & Design, not Code. Duh. • Launch it Right. • Positioning - Stand Out, Be Different. • Fire your Day Job and Go “all-in” ASAP. • Eat your own Dog Food. • Don’t take funding • AWS hosting for the win. • Continuous Marketing from Day 1!
- 42. Our Hockey Stick Event
- 43. Our Hockey Stick Event Buying the Teamwork.com domain
- 51. Did it make a difference?
- 52. 0 250000 500000 750000 1000000 Nov 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Jun 2011 Dec 2011 Jun 2012 Dec 2012 Jun 2013 Dec 2013 Jun 2014 Dec 2014 Jun 2015 Dec 2015 Mar 2016 Did it make a difference? Teamwork.com launch Hell, Yeaaah…
- 53. Time to be an actual CEO...
- 54. Aha! It’s my Job
- 55. Meetings Suck. But Get Over It.
- 56. Set the Vision
- 57. Mistake #783: Not Hiring Deliberately
- 59. Don’t Be A Dick
- 60. Mistake #386: No Marketing Team
- 61. Mistake #1038 We Don’t Need a Sales Team
- 62. Process Pains
- 63. Nobody has All the Answers
- 64. Trust Others and Let Go
- 65. Part 3 - Key Takeaways • Be the CEO. • Hold Quarterly Meetings. • Set the Vision. • Establish Your Culture. • Establish processes. • You don’t have to have all the answers. • Trust others and Let Go.
- 66. Summing Up Happy Developers can become Happy CEOs. Peter Coppinger @irlTopper peter@teamwork.com Get in touch: Slides at: http://tinyurl.com/topperbos16