MicroConf 2012 Day 1 Summary

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.”

“Most websites lie.”

“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, they’re okay with the differences.”

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

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

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

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.”

“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 people say isn’t what people do.”

Hiten Shah – CrazyEgg & KISSmetrics

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

http://twitter.com/#!/juneavila/status/197022616672935936

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

http://twitter.com/#!/derrickreimer/status/197022924522270721

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

http://twitter.com/#!/patio11/status/197023108799008768

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

http://twitter.com/#!/JasPanesar/status/197024396651659264

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

http://twitter.com/#!/GrayAndy/status/197025457248546816

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

http://twitter.com/#!/JasPanesar/status/197025613545078784

“Marry the problem, not the solution.”

http://twitter.com/#!/dchurchville/status/197025501330681856

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

http://twitter.com/#!/JasPanesar/status/197027101617045505

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

http://twitter.com/#!/JasPanesar/status/197028727392178176

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

http://twitter.com/#!/newfoo/status/197032265765765121

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

http://twitter.com/#!/JasPanesar/status/197032406505627649

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

http://twitter.com/#!/genejo/status/197033284474126336

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

http://twitter.com/#!/derrickreimer/status/197032438835318785

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

http://twitter.com/#!/JasPanesar/status/197032092226433025

“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

http://twitter.com/#!/patio11/status/197061532289478657

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

http://twitter.com/#!/andrewangus/status/197062986244960257

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

http://twitter.com/#!/PatrickFoley/status/197063021628108801

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

http://twitter.com/#!/derrickreimer/status/197064045545787393

“Never try to build two products at once.”

http://twitter.com/#!/derrickreimer/status/197066034023383040

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

http://twitter.com/#!/dchurchville/status/197067765838905344

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

http://twitter.com/#!/DavidYKay/status/197069267307466754

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

http://twitter.com/#!/jackfoundation/status/197063427045343233

“Failure is not the end point.”

http://twitter.com/#!/PatrickFoley/status/197067113511403520

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

http://twitter.com/#!/JasPanesar/status/197072969053384704

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

http://twitter.com/#!/JasPanesar/status/197074057294909440

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

http://twitter.com/#!/derrickreimer/status/197073650602614785

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

http://twitter.com/#!/JasPanesar/status/197074589837307904

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

http://twitter.com/#!/JasPanesar/status/197075674014564352

“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

http://twitter.com/#!/JasPanesar/status/197081120628678656

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

http://twitter.com/#!/JasPanesar/status/197081464720998400

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

http://twitter.com/#!/icesar/status/197083098750533632

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

http://twitter.com/#!/JasPanesar/status/197084216629010432

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

http://twitter.com/#!/JasPanesar/status/197084992080326656

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

http://twitter.com/#!/JasPanesar/status/197086251705319425

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

http://twitter.com/#!/DavidYKay/status/197088359854772224

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

http://twitter.com/#!/lonroth/status/197088131516870656

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

Mike Taber – SingleFounder.com

Presentation: Losers Have Goals, Winners Have Systems

http://twitter.com/#!/mhmazur/status/197096971159347201

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

http://twitter.com/#!/mhmazur/status/197098366381981697

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

http://twitter.com/#!/mhmazur/status/197100063812620288

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

http://twitter.com/#!/mhmazur/status/197100434400354304

“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

http://twitter.com/#!/mhmazur/status/197104012120698880

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

http://twitter.com/#!/jackfoundation/status/197105535265411072

“Often Wrong. Never in Doubt.”

http://twitter.com/#!/mhmazur/status/197105859212488705

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

http://twitter.com/#!/DavidYKay/status/197106545119608832

“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.”

http://twitter.com/#!/DavidYKay/status/197107122629120001

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

http://twitter.com/#!/hnshah/status/197107574854782976

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

http://twitter.com/#!/jackfoundation/status/197111543350046720

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

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