Working on a side project and hoping it'll turn into your full time venture? As a developer, we know you can build anything but how do you turn it into a fundable startup? Come and learn the 7 things you MUST do in order for that to be a success!

1. 7 MUST DO’s to Turn Your Side Project into a
Fundable Startup

2. Melinda Kim
Executive Director, PeopleSpace
After 8 years in corporate, I decided technology is where my heart is and immersed
myself in the startup and technology community. My former startups as an accelerator
alumni included Aspirely and Trustvillage.
Currently, being a part of PeopleSpace and Irvine Tech Hub allows me to facilitate
collaboration and innovation between developers and entrepreneurs. I believe in the
power of joining forces to enrich each other's lives. Aside from my responsibilities, I'm
also the co-organizer for OCTech Startup, Startup Weekend Organizer and NASA
Space Apps.
On occasion, I also advise and consult with startups and companies on Statistics
Driven Product Analysis, Business Strategy, Community, Social and Content
Engagement.

3. So you can build anything, now
what?

4. “Is this a hobby or a startup?”

5. hobby
When you build something cool
for the sake of learning a new
technology or getting your idea
out there, but you don’t
necessarily care about the
business or marketing side of
things.
startup
You have: global reach, early
adopters that were helping you
drive the product forward, and
revenue.
Goal: Product Market Fit

6. 1. Have Metrics
in Mind

7. Data - typical traction for
accelerators
✤ Data: LTV (life time value), CAC (Cost of Customer
Aquisition), retention / engagement / churn.
✤ $10k+ MRR.
✤ Growth Metrics: monthly revenue, or new
users/customers per month, % growth month over
month
✤ Watch out for vanity metrics

8. 2. Take it outside of your 4 walls.
Listen to the right people…

9. 3. Move as fast as possible.

10. ✤ 4. Get a great partner. Start building your team.

11. 5. Test and
Validate
Be scientific: (lean methodology) - THIS IS AN
OPERATIONAL MODE
hypothesis
prove
result
learn
reiterate

12. 6. “Scale ONLY when the product needs, be 100% product
focused.”

13. 7. Take a leap of faith

14. IN SUMMARY
✤ Target Market Fit
✤ Exponential Growth
✤ Credible path to revenue

15. twitter: @melindapkim
Thank you.
Connect with me: melinda@peoplespace.us