Hey guys! Good morning or afternoon depending on where you're watching today.
We're just gonna answer questions. We're excited, we've got a bunch
of questions from the community. We're trying to keep up with them as you saw
in a video last week where we're starting to add questions to the end of
each video but today we're just gonna dedicate you know I don't five seven
minutes to answering questions of you guys sent over so alright so the first
one comes from Saeed: I have a naive question did you build
the AI solution just for getting more round of investment Silicon Valley
buzz words or do you need to differentiate your company with your
competitor? I don't think that neither of them applies we really built it to build
a better user experience in the way Slidebean worked originally we used a set
of rules that would arrange slides based on certain characteristics and the type
of content they had but slides ended up looking rather similar and they weren't
cool like they didn't stand apart. They weren't as cool as a slide that a designer
would build because they were just following rules the idea of kind of
rethinking the way that worked and building it on using AI was to make it
look drastically better without the need for for a human being to do it and then
end up working rather well so no like the reason is no it's not just a
buzzword we didn't try to raise money after this it's more about providing the
best user experience and the way AI has evolved in the past few years it's
really the best option to providing a better experience. Next up now question
by Oduwin, alright: Amazing video this is on the start mistakes
video thank you very much would love a video on what statistics a start-up
should track or maybe which ones you track in Slidebean and why. What KPI's
you find most important that's pretty good it really depends you know for
teams for each team there's a KPI that they should be sticking to in our case I
mean in like a company broad case it's probably around revenue it's definitely
around MRR in our case as a SAS company so revenue, MRR, our churn rate
for a SAS companies is a really important metric which kind of derives
into customer lifetime value into cost of acquisition into margins again I'm
talking specifically about a SAS company growth rate is another metric that we
report to investors and then investment usually gets new investors interested in
joining the business in our case we're a profitable company now so in the end you
know probably our key metric is just are we making money is a company in green or
black numbers instead of red but yeah, each team will have its own KPI
after that next up a question by Obieze: no team doing everything alone
at this point what is the best way to approach this in pitching that really
depends on the business right I am a bit of a skeptical in terms of solo founders
not that it can't be done there are fantastic solo founders out there and
fantastic companies both out by solo founders but you know if ask me if you
ask me I wouldn't start my next company alone we actually made a video about
that go check it out no I wouldn't start alone because there's so much to do as
you start a company that you not only need like the emotional support of
having somebody who is suffering suffering next to you but you know also
an extra pair of hands to do all these things you know I am NOT a developer but
I can code a little bit but I couldn't kind of code and do the business side
and do the marketing side of the business and the operations I just you
can't do it everything even at the very beginning so yeah I think you need an
extra set of hands it creates credibility it projects an
image that you were able to convince one other or two other people to take a huge
risk in their lives and their careers and join this company because they
believe in it so there's there's an intangible value to having co-founders
next up by Christian, okay: love your videos you're welcome keep it up
I do have questions I'm hoping this finds your way we found it so okay so
what is your best advice or recommendations for founders who are
working with an agency helping develop an app and launch it to the market
Continue to work with the agency as it grows or have them transfer everything
to start doing it in-house man if I don't I don't do outsourcing agencies
I'll tell you why if you're building an app any software product website
whatever you as a CEO you'll come up with with an idea of how this product
should be and how this product shouldn't work and you'll project that idea to the
design agency you to the development agency and they'll create a prototype
based on this the problem is you as a CEO you're not a product person you're
you a businessperson and you have an idea of
how the product should look and how the product should work the agency will just
follow those specifications but it is very likely that this product is not
what customers want even today like if I were designing a new product and I have
some experience in the whole startup thing probably my first idea of
a product would be wrong so point being that product is gonna have to iterate
it's gonna have to change and if you have to pay an agency for each one of
those changes you're gonna run out of money really fast a lot of those changes
require strong good strong arguments and conversations about you know what needs
to change and what's needs to evolve in the product you know a lot of our
features I mean our most complex features we've sat down you know five
people in the company who are well digging deep into the metrics involved
in the business on a day-to-day they have a stake in the game like they're
actually my co-founders or their business shareholders and they really
care about the product succeeding so it you know there are no kind of like
secret agendas here of you know the agency wanting to bill you more or the
end user wanting to take in a larger project it's you know it's people that
who's first and foremost priority is just growing this business and that's
something that you don't get with an agency so no I think that this that your
team should be in-house as soon as possible I've never paid an agency to
build a first version of the app I think it's something that needs to scale
inside the company that's just the way I think I've seen companies succeed and
like outsourcing their their products I just don't think it's it's the norm all
right thanks a lot for watching guys we're gonna do we're gonna be doing
questions on our weekly basis now and we're gonna add those questions at the
end of each video so go ahead and submit them in the comments on this video or
any other video I'll drop links to our usual 3-month promo code right here and
our of course our subscribe button so we'll see you next week
you