MicroConf 2012 Day 1 Summary

Tue, May 1, 2012 by

This is a summary of MicroConf 2012 day 1 as shared on Twitter by the attendees. MicroConf is a conference hosted by Rob Walling and Mike Taber focused on self-funded startups and single founder software companies. The speakers were Jason Cohen, Hiten Shah, Rob Walling, Peldi, Mike Taber, and Dan Martell. I hope you enjoy the insightful quotes from the speakers as much as I did.

If you like this, you will also enjoy reading the best quotes from day 2 of MicroConf 2012.

Jason Cohen – A Smart Bear & WP Engine

Presentation: Naked Business: How honesty makes you more money

Brutal honesty is a differentiator in a world of common marketing lies @ #microconf

@dchurchville

Dave Churchville

“Brutal honesty is a differentiator in a world of common marketing lies.”

“Most websites lie.”

Canon camera’s experiment – the more reviews (good or bad) , the more sales go up. @ #MicroConf

@JasPanesar

Jas Panesar

“Canon camera’s experiment: the more reviews (good or bad) you get, the more your sales go up.”

When you buy a cheaper product people expect less, you’re okay with the differences. @ #Microconf

@JasPanesar

Jas Panesar

“When you buy a cheaper product people expect less, they’re okay with the differences.”

Instead of a competitive analysis chart, list things you’re great for, and not great for – @ #microconf

@dchurchville

Dave Churchville

“Instead of a competitive analysis chart, list the things you’re great for, and not great for.”

Proactive honesty: Truth in limitations earns believability in advantages. @ #MicroConf

@JasPanesar

Jas Panesar

“Proactive honesty: Truth in limitations earns you believability in advantages.”

Copy the inspiration, not the content of someone doing proactive honesty right. @ #MicroConf

@JasPanesar

Jas Panesar

“Copy the inspiration, not the content, of someone doing proactive honesty right.”

On beating the big guys: “When you’re trialling a software, our tech support is a part of what you should trial.” @ #MicroConf

@JasPanesar

Jas Panesar

On beating the big guys: “When you’re trialling software, our tech support is a part of what you should trial.”

“Micropreneurs must use their advantages: All-in ability to take risks, speed, creative solutions and no legacy code” @ #MicroConf

@JasPanesar

Jas Panesar

“Micropreneurs must use their advantages: All-in ability to take risks, speed, creative solutions and no legacy code.”

Lying doesn’t help. It comes back to hurts your credibility. Why lie about your life’s work? @ #MicroConf

@JasPanesar

Jas Panesar

“Lying doesn’t help. It comes back to hurt your credibility. Why lie about your life’s work?”

“Be honest” is everywhere, but rare.. What ppl say isn’t what ppl do. @ #MicroConf

@JasPanesar

Jas Panesar

“‘Be honest’ is everywhere, but rare. What people say isn’t what people do.”

Hiten Shah – CrazyEgg & KISSmetrics

Presentation: More Lessons I’ve Learned as a Serial Entrepreneur

Your success requires focus. When you focus, magic happens. @ #microconf

@juneavila

June Avila

“Your success requires focus. When you focus, magic happens.”

Focus on metrics that matter – vanity metrics will kill your business – @ #microconf

@derrickreimer

Derrick Reimer

“Focus on metrics that matter. Vanity metrics will kill your business.”

Don’t optimize for pageviews. 10k to 20k uniques a month can generate millions in revenue. @ at #microconf (Totally true.)

@patio11

Patrick McKenzie

“Don’t optimize for pageviews. 10k to 20k uniques a month can generate millions in revenue.”

Making money as a consultant doesn’t mean you’re furthering your life as an entrepreneur @ at #MicroConf

@JasPanesar

Jas Panesar

“Making money as a consultant doesn’t mean you’re furthering your life as an entrepreneur.”

“Magic doesn’t just happen: you make your own luck” @ #microconf

@GrayAndy

Andy Gray

“Magic doesn’t just happen: you make your own luck.”

Marry the problem, not the solution. @ at #MicroConf

@JasPanesar

Jas Panesar

“Marry the problem, not the solution.”

Not focusing on customers = needing a magic combination of events to succeed — @ #microconf

@dchurchville

Dave Churchville

“Not focusing on customers means needing a magic combination of events to succeed.”

Don’t prove that your hypothesis is right, prove that it’s wrong. @ at #MicroConf

@JasPanesar

Jas Panesar

“Don’t prove that your hypothesis is right, prove that it’s wrong.”

Understand: Who are your customers? Where do they hang out? How should you engage? What are their problems? @ at #MicroConf

@JasPanesar

Jas Panesar

“Understand: Who are your customers? Where do they hang out? How should you engage? What are their problems?”

There are MANY more ways to reach your customers than Twitter, FB and email – @ #microconf

@newfoo

Jim Connell

“There are MANY more ways to reach your customers than Twitter, FB and email.”

When you start getting bored, start analyzing the data and find the pain patterns to solve.. @ at #MicroConf

@JasPanesar

Jas Panesar

“When you start getting bored, start analyzing the data and find the pain patterns to solve.”

To be a successful entrepreneur you have to embrace the roller coaster, ask the right questions, and FOCUS. -@ at #MicroConf

@genejo

Gene Miguel

“To be a successful entrepreneur you have to embrace the roller coaster, ask the right questions, and FOCUS.”

Frame your questions to potential customers around the problem, not the solution @ #microconf

@derrickreimer

Derrick Reimer

“Frame your questions to potential customers around the problem, not the solution.”

“The right growth hacker will have a burning desire to connect your target market with your must have solution.” #MicroConf

@JasPanesar

Jas Panesar

“The right growth hacker will have a burning desire to connect your target market with your must have solution.”

Rob Walling – SoftwareByRob.com & Start Small, Stay Small

Presentation: How to Be Profitable

“You can’t build a product with a LTV of $2… unless it’s an iPhone app.” @ at #microconf

@patio11

Patrick McKenzie

“You can’t build a product with an LTV of $2…unless it’s an iPhone app.”

Pushing failure into the future just costs you more money before you fail. #failfast #microconf

@andrewangus

Andrew Angus

“Pushing failure into the future just costs you more money before you fail.”

#microconf @: hanging on longer to avoid failure does not equal success

@PatrickFoley

Patrick Foley

“Hanging on longer to avoid failure does not equal success.”

Never try to build two products at once @ #microconf

@derrickreimer

Derrick Reimer

“Never try to build two products at once.”

Fulfilling demand is easier than creating it (educating the market) @ #microconf

@derrickreimer

Derrick Reimer

“Fulfilling demand is easier than creating it (educating the market).”

Asking “What is your customer acquisition cost?” is like asking “How much do you weigh?” @ #microconf

@dchurchville

Dave Churchville

“Asking ‘What is your customer acquisition cost?’ is like asking ‘How much do you weigh?'”

“If you know your competitor’s Lifetime Value and Cost Per Acquisition numbers, you can destroy them.” – @ #MicroConf

@DavidYKay

David Y. Kay

“If you know your competitor’s Lifetime Value (LTV) and Cost Per Acquisition (CPA) numbers, you can destroy them.”

“Failure is not the end point” – @ at #microconf

@jackfoundation

Jack Aboutboul

“Failure is not the end point.”

Inbound marketing means finding places people search for stuff. Amazon, app stores, even craiglist. #microconf @

@PatrickFoley

Patrick Foley

“Inbound marketing means finding places people search for stuff: Amazon, app stores, even Craigslist.”

Restructure your pricing based on the value they receive @ #MicroConf

@JasPanesar

Jas Panesar

“Restructure your pricing based on the value your customers receive.”

What else can you offer your customers? If it’s hard to do, it might be valuable to them. @ #MicroConf

@JasPanesar

Jas Panesar

“What else can you offer your customers? If it’s hard to do, it might be valuable to them.”

Increase your LTV by 1) increasing retention, 2) increasing prices, 3) selling more to existing customers @ #microconf

@derrickreimer

Derrick Reimer

“Increase your LTV by 1) increasing retention, 2) increasing prices, and 3) selling more to existing customers.”

Increase upsells through: Support, Upgrades, Add-on Modules/Integrations, Added Services. @ #MicroConf

@JasPanesar

Jas Panesar

“Increase upsells through: Support, Upgrades, Add-on Modules/Integrations, Added Services.”

Before raising prices, grandfather existing people, and market on site + list for 2 weeks that prices are going up. @ #MicroConf

@JasPanesar

Jas Panesar

“Before raising prices, grandfather in existing customers plus market on your website for 2 weeks that prices are going up.”

Peldi Guilizzoni – Balsamiq

Presentation: Ask Me Anything

Give your software character, make it immediately recognizable. @ #MicroConf

@JasPanesar

Jas Panesar

“Give your software character, make it immediately recognizable.”

Feedback and building community is really important in the beginning. @ #MicroConf

@JasPanesar

Jas Panesar

“Feedback and community building is really important in the beginning.”

@ When to hire? Wait until you wake up sweating. “If I don’t hire someone today, I’m going to die.” #microconf

@icesar

Cesar Gonzalez

When to hire? Wait until you wake up sweating. ‘If I don’t hire someone today, I’m going to die.'”

Welcome your competitors to the race, everyone loves a horse race, and it cements you as the leader. @ #MicroConf

@JasPanesar

Jas Panesar

“Welcome your competitors to the race, everyone loves a horse race, and it cements you as the leader.”

Your job is to go to your team every morning and asking “What do you need?” @ #MicroConf

@JasPanesar

Jas Panesar

“Your job is to go to your team every morning and asking ‘What do you need?'”

“Competing on features is very 90’s. Don’t compete on features” @ #MicroConf

@JasPanesar

Jas Panesar

“Competing on features is very 90’s. Don’t compete on features.”

“As the founder, you’re the generalist. Hire specialists to tackle the hard stuff and let them run.” – @ #MicroConf

@DavidYKay

David Y. Kay

“As the founder, you’re the generalist. Hire specialists to tackle the hard stuff and let them run.”

“The main reason for doing all of this is to continue learning.” @ at #microconf

@lonroth

Jacob Lönroth

“The main reason for doing all of this is to continue learning.”

Mike Taber – SingleFounder.com

Presentation: Losers Have Goals, Winners Have Systems

“My philosophy is that losers have goals and winners have systems.” – Scott Adams via @ #microconf

@mhmazur

Matt Mazur

“My philosophy is that losers have goals and winners have systems.” – Scott Adams

“Pipeline most of your business using systems. Use goals to measure and correct those systems.” @ #microconf

@mhmazur

Matt Mazur

“Pipeline most of your business using systems. Use goals to measure and correct those systems.”

“Set aside one full day each week to do marketing tasks.” @ #microconf

@mhmazur

Matt Mazur

“Set aside one full day each week to do marketing tasks.”

“By putting it on paper, you’re asking people to make an upfront commitment to say ‘Yes, I will pay for that'” @ #microconf

@mhmazur

Matt Mazur

“By putting it on paper, you’re asking people to make an upfront commitment to say ‘Yes, I will pay for that.'”

Dan Martell – Clarity.fm

Presentation: Growth Hacking

“Am I working on my most meanful and impactful stuff?” @ #microconf

@mhmazur

Matt Mazur

“Am I working on my most meaningful and impactful stuff?”

“Often Wrong. Never in Doubt.” – @ at #microconf

@jackfoundation

Jack Aboutboul

“Often Wrong. Never in Doubt.”

“What am I building and do my customers actually care?” @ #microconf

@mhmazur

Matt Mazur

“What am I building, and do my customers actually care?”

If a customer says, “I got busy, but I’ll check out your product tomorrow.” It really means you didn’t truly solve their problem. #MicroConf

@DavidYKay

David Y. Kay

“If a customer says, “I got busy, but I’ll check out your product tomorrow.” It really means you didn’t truly solve their problem.”

“If you can flatline at 15% weekly retention, you’re doing something good.” – @ #MicroConf

@DavidYKay

David Y. Kay

“If you can flatline at 15% weekly retention, you’re doing something good.”

Other people’s networks (OPN) are networks you can leverage for growth. @ #MicroConf

@hnshah

Hiten Shah

“Other People’s Networks (OPN) are networks you can leverage for growth.”

“When you want to succeed as much as you want to breathe, you will have success” @ at #microconf

@jackfoundation

Jack Aboutboul

“When you want to succeed as much as you want to breathe, you will have success.”