Startup Mixology

Entrepreneurship starts with an idea and a dream: a dream of a better world for others, and a life less ordinary for yourself. These days, more people than ever are full of world-changing ideas and, thanks to technology, have the means to bring them to life. But many ideas remain just ideas, and many dreams just dreams.

Startup Mixology is first and foremost a book about turning your ideas into action. From the cofounder of media company Tech Cocktail, a veteran entrepreneur and investor who was named one of the most connected people in tech, this book covers the basic "ingredients" of winning entrepreneurship. No abstract theories here — it shows you how to tackle everything from idea generation to launch to marketing to funding and how to start getting things done.

Once you've taken that first step, the journey has only begun. Startup Mixology tells it like it is — and it's not easy! You'll learn about the harsh reality of starting up: what happens when you offend your customers, get no attention, or run out of money. These are the stories you don't always hear in the media.

In the end, Startup Mixology is an optimistic book. You can do this — and you can have fun doing it, too. Every chapter also shows you how to enjoy the journey along the way - because if you don't, what's the point of it all? From cake baking to workations to llama parades, you'll learn how entrepreneurs around the world stay sane, reduce stress, and celebrate the positive. This may seem fluffy, but it's actually one of the biggest secrets of successful startups.

Inside, you'll find the stories of companies like MakerBot, WordPress, Zappos, Basecamp, Uber, and more. Hear in their own words how they survived the startup phase, and learn from the straightforward and conversational Frank Gruber, who has met thousands of entrepreneurs and watched them grow their businesses.

In many ways, entrepreneurship will be the most difficult undertaking of your career. But if you can find the right balance of hard work, support, and celebration, it can also be the most rewarding. Startup Mixology takes you through the whole process from start to finish, so you can begin the incomparable journey of turning your great ideas into great startups.

Foreword Tony Hsieh ix

Introduction 1

Part 1 GETTING STARTED 5

1 Entrepreneurial Mind 7

2 Ideas 21

3 Action 31

4 Formation 47

Part 2 PRODUCT 59

5 Product-Market Fit 61

6 Launch 73

7 Metrics 85

Part 3 TEAM AND PEOPLE 95

8 Team 97

9 Culture 109

10 Celebration 123

11 Relationships 135

Part 4 SALES AND MARKETING 147

12 Marketing 149

13 Sales 165

Part 5 MONEY 179

14 Bootstrapping 181

15 Funding 193

Part 6 GROWTH AND CHANGE 211

16 Failure 213

17 Success 223

Conclusion 237

Acknowledgments 239

References 243

Index 247

FRANK GRUBER grew up in the Midwest heartland and is an entrepreneur, new media journalist, and investor. His alma maters include Purdue and Northwestern respectively. He cofounded Tech Cocktail in 2006, which has grown into a hub for the creative class, offering tech startup focused news, events, and resources. Frank has built and launched products for the masses while at AOL, Tribune, and Classified Ventures along with startup efforts like Thankfulfor, Splog Reporter, and more. As a journalist his works have been featured in a number of top media publications. He was named by Forbes as one of the most connected people in tech. Frank is also a Venture Partner with Crystal Tech Fund.

Entrepreneurship starts with an idea and a dream: a dream of a better world for others, and a life less ordinary for yourself. These days, more people than ever are full of world-changing ideas and, thanks to technology, have the means to bring them to life. But many ideas remain just ideas, and many dreams just dreams.

Startup Mixology is first and foremost a book about turning your ideas into action. From the cofounder of media company Tech Cocktail, this book covers the basic “ingredients” of winning entrepreneurship. No abstract theories here—it shows you how to tackle everything from idea generation to launch to marketing to funding and how to start getting things done.

Once you’ve taken that first step, the journey has only begun. Startup Mixology tells it like it is—and it’s not easy! You’ll learn about the harsh reality of starting up: what happens when you offend your customers, get no attention, or run out of money. These are the stories you don’t always hear in the media.

In the end, Startup Mixology is an optimistic book. You can do this—and you can have fun doing it, too. Every chapter also shows you how to enjoy the journey along the way—because if you don’t, what’s the point of it all? From cake baking to workations to llama parades, you’ll learn how entrepreneurs around the world stay sane, reduce stress, and celebrate the positive. This may seem fluffy, but it’s actually one of the biggest secrets of successful startups.

Inside, you’ll find the stories of companies like MakerBot, WordPress, Zappos, Basecamp, Uber, and more. Hear in their own words how they survived the startup phase, and learn from the straightforward and conversational Frank Gruber, who has met thousands of entrepreneurs and watched them grow their businesses.

In many ways, entrepreneurship will be the most difficult undertaking of your career. But if you can find the right balance of hard work, support, and celebration, it can also be the most rewarding. Startup Mixology takes you through the whole process from start to finish, so you can begin the incomparable journey of turning your great ideas into great startups.

“Frank Gruber’s Startup Mixology is a clear and thoughtful distillation of what it takes to take an idea and turn it into a business. I encourage entrepreneurs of all backgrounds to read this book and apply its lessons.”
—Steve Case, Chairman and CEO, Revolution, Cofounder, AOL, and Chairman, Case Foundation

“Too many entrepreneurs these days are burning out, stressing out, and pretending they have no choice. Startup Mixology reminds us all to pause and celebrate the small victories—because the game is really a marathon.”
—Gary Vaynerchuk, Bestselling author and Cofounder, VaynerMedia

“Startup Mixology is an inspiring guide to help take that leap in the right direction. Gruber’s advice on delighting your consumers and thinking like an entrepreneur is uniquely tailored to fit today’s modern, wired age.”
—Randi Zuckerberg, Founder and CEO, Zuckerberg Media, and Author, Dot Complicated

“Tech startups are hyped up and glorified lately, and Startup Mixology gives us a reality check: this isn’t easy! The sections on what can go wrong help entrepreneurs avoid getting blindsided when reality doesn’t live up to fantasy.”
—David Cohen, Cofounder, TechStars

“This isn’t a dry, how-to book. It brings us the stories of startups big and small and teaches by example and inspiration—one of the best ways to teach.”
—Tony Conrad, Cofounder, About.me, and Partner, True Ventures

“Startup Mixology is a GPS tool for entrepreneurs so they can enjoy the leap and avoid burning out. I wish I could have read this book before starting my company.”
—Amy Jo Martin, Founder, Digital Royalty, and Author, Renegades Write the Rules

“Startup Mixology helps shine a light on potential obstacles and pitfalls and takes some of the fear out of making that first step.”
—Fred Mossler, at Zappos.com

“Startup success is the convergence of opportunity, aspiration, and agility. No one knows this more than Frank Gruber. By following his lessons and working smart, he will help you become the next startup success story.”
—Brian Solis, Digital Analyst and Author, What’s the Future of Business?