The Author has written his memoirs in Hailo and his experiences in building a billion dollar startup in the western hemisphere of the Globe and then spreading globally with the app to amass huge wealth during the process. Not only is this book very impressive, but it can be used as a rough guide for anybody willing to build a billion dollar company based on app.
This book is a must read for product managers - The book is set in stone about what to do and at what stage, carefully defined and sorted out for product managers. The author himself, served as a product manager for the team.
The book begins very well with talk about principles and strong theories of how to build your team and how to grow from a team of 10 people to 50 people and so on. The author has taken time to structure the book pretty well, from an app that generates no revenue to an app that generates thousands of dollars, to an app that generates millions of dollars and then progressing to Series round of funding. He also talks about scaling the company, the troubles faced while scaling.
The crux of the book lies in the first half. The first half of the book is extremely more useful, and more instructional than the second half. The second half of or the last one third of the book seems more like politics rather than a startup. The talk then moves to managing and controlling rather than inventing. The books meaty and juicy stuff comes to an end after the talk about the growth and retention metric discussion. After that it is just bringing the right people and getting the right funding i.e. proper delegation. Till that point everything on the book is hands on i.e. the founders have their fate more or less in their control, but post that road sign everything in the book is about serendipity i.e. getting lucky with funding, getting lucky with the hard hitters, getting lucky with the market and getting lucky with the customers and so on.
The book starts off pretty concrete telling you exactly what you need to. I am impressed that the author has decided to include various analytics, CRM tools that he loved using while building the startup. He stressed the agile development method and the need to keep the entire team at the same location. All the lessons that he has learned through direct experience or through indirect experience have been distilled into this book. The discussion about Square App, Uber App, Whatsapp along with his own Hailo app are impressive, but the later one third of the book is biased, sometimes extremely biased, with the typical western view, that billion dollar apps can only be made in one particular way. Unfortunately the author has refused to talk about the other parts of the world i.e. Russia, China, India, Brazil, only talking about markets in EUROPE and USA, which are the economic powerhouses of the globle. Now wonder billion dollar apps arise out of this over invested ecosytems. I bet that trying to apply the same lessons i.e. beyond a certain point in the book, would cause serious mental and physical issues to the founders and the company in another part of the world. Other than that the book is impressive. The author is definitely an expert at startup and making it big. I have no qualms about that but rules change and in IT they change extremely fast and new rules are written in eco systems in China. The dynamics are different. The author talks about business models, pricing models, about ad revenues, about the app that could help you place your ad perfectly in other apps. He discusses almost every aspect related to building an app, including the office space requirements, pay scales, scaling the app, the strategies followed by the finnish app rovio to scale clash of clans, the angry birds strategies while scaling up. If there is one thing I can say about this book, it would be that it isn't boring. All of it is extremely engaging and I just love the way author thinks.
The author also talks about how to hire, whom to hire, when to hire who, freelancers, agencies etc.. I just loved the entirety of the book, it is a coherent whole, never losing the underlying narrative, i.e. scaling the app, while keeping the finances stable.
Here is a list of books mentioned in this work:
Lean startup Eric ries
Venture deals and venture capitalist
Srartup owners manual
High output management
Scaling agile at Spotify with tribes squads chapters and guilds
Outliers
Ptttrns.com
Key words:
Product market fit
Growth engine and revenue engine
Fiksu
Incent networks
Freemyapps.com
Mixpanel analytics