Yunha Kim is CEO and Co-founder of Locket, a category-creating mobile advertising company.
Patience is important for leaders at a big company because you have to launch a perfect product. One minor mistake can kill the brand that your company built for years. At a startup, patience, I believe, can be the poison that kills the company. Perfect product means a suite of products you could have launched to find out which feature works the best. Startup leaders with impatience get more things done and learn more in a short period of time.
Marketing – TechCrunch article. Sales – Evangelize the thought leaders in the company. Evangelize and sell them on your vision and your story, not your current product or user base.
Do not try to get a team member by giving the best offer. You don’t want to attract the kind of talent that are driven by compensation package. Bring in the members that would sign up for your vision despite the cut in salary, working environment, and other factors.
Get an apartment where you live and work. We have done it for only 6 months, so you can ask me again after a few months to see if I have a different opinion then, but so far, it has been the single best decision ever.
Don’t have any connections in the industry? Before you start cold-emailing strangers, access your college alumni connections. Shamelessly ask them for help and intros to other contacts. People are kind and many will help you.
We had the conviction that movie ads would work really well on our lock screens. Before we launched, we reached out to several movie studios but they were telling us to come back to them when we have half a million users. We created our own movie ads, and without their approval – which is quite risky – we just ran it on the lock screen.
And those ads ended up being the best performing ones ever on our lock screens. Because of that, the movie studios started noticing our campaigns via various channels and that’s how we were able to get more advertisers on board.
Adding extra zero to the number of impressions by mistake and promising 10 times more impressions, effectively making our CPM 10 times cheaper…