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Day 10: Those Times When Cheating is Good.

April 29, 2013 at 4:41 am

From an early age, we are told that cheating is bad. There are rules we’re supposed to follow, and breaking these rules – we’re told – is a big no-no. No ice-cream before dinner, no peaking at your classmate’s test, no cutting in line for lunch… or else. But is cheating always a bad thing?

Cheating

Dominic and Scott from The Working Group came up from Toronto to talk to the companies about those times when cheating in development can be good.

Bad cheating breaks the law, puts people at risk or has severe negative consequences. If you’re making a program to run a nuclear reactor: don’t cheat. If something goes wrong then there will be very bad consequences.

Good cheating is like a magic trick: it’s a method to achieve a desired effect. Just don’t get caught. Getting caught ruins the magic and gets you in trouble. Do things “wrong”, get dirty, use hacks, and optimize for very specific cases. Do all this in order to deliver the desired effect.

Applications capture, retrieve and display resources. These resources have costs, such as the cost of transmission, processing and storage. Different resources have varying probabilities of being required; some may be requested and others not, some may be requested frequently and others rarely. These are all things to consider when deciding what processes can and need to be optimized, which will in turn help you choose from your magic bag of tricks. 

Here’s a quick barometer for deciding when to cheat:
- Requests that are free or cheap to deliver and are rare are not worth optimizing since these are essentially effortless already
- Requests that are expensive but rare aren’t a priority, feel free to procrastinate on these
- Requests that are free or cheap and happen frequently are the fun ones to optimize
- Requests that are frequent and expensive are your big wins… if you can figure out how to optimize them.

There are many ways you can use performance cheats to optimize your application. A big part of cheating is first deciding when ‘more is more’ and when ‘less is more.’ For example…

Faster is not always better, sometimes you might actually want to make users wait longer. You can make something appear important by taking longer to load, creating the impression that the user’s request is hard and requires a lot of work (think airlines).  Just make sure you keep your delay proportional to the significance of the request, and make sure you keep your users informed via a spinner or progress bar. Making users wait more for more expensive requests makes users less likely to engage a feature needlessly.

For resources that users don’t see, load lessYou can fetch things on demand or practice “lazy loading”. Apply the refrigerator light principle and make it seem like it’s always on.  On the other hand, for resources that your users do see, fetch them ahead of time or practice “eager loading”.  In these cases, apply the boy-scout principle and be prepared. 

Save less: trim, crop, shrink, and strip out redundant or duplicate content. Go for one-size-fits-all when possible. But have everything that is important ready instantly, which in some cases may mean saving more. 

The fastest database call is the one never made. Cache high frequency requests that are cost-effective; for high cost requests, cache only if it’s likely to be used more than once. But be careful what you cache, since cache mistakes can be very embarrassing. Caches can make updates take longer and can be very hard to invalidate. Also consider that running without a cache leaves you with headroom. 

Sometimes you need to distribute more. Push data closer to your users, go for client storage and content bundles. Other times, you need control over structure, strategy and technology, so distribute less.  

Apply minimalist principles. Delete data that you are no longer using, send archives to cheaper storage systems. Purge. But some unpopular things matter and shouldn’t be purged. Dump these on the cloud, keep them cached longer, or pre-render them. 

Most resources benefit from some sort of compression. But remember that compressed data can’t be queried and databases can’t interact with compressed data.

Indexes massively reduce retrieval time. A query with a tuned index = bliss. But indexes don’t always get used, and every index makes writes more expensive. Rule of thumb: awkward and fast can be better than easy but slow. 

The bottom line is that, like magic, performance cheats are about perception. The key to remember is that if an application feels fast to your users, then it is fast.

Do you have other cheats that work like magic? 

Day 7: Facebook Tips for Startups

April 23, 2013 at 4:12 pm

Today Facebook dropped by for lunch and to chat with the teams. We all got insider tips on how Facebook can help our startups, as well as creative ways to use advertising, reach fans, and optimize the benefits the social media giant can offer even the smallest, most niche startups.

From targeted advertising to interesting content, not to mention the networks’ reach across the globe, Facebook is an engine of growth for many startups.

Thanks for joining us today Daniel!

Check out this infographic on the power of Facebook advertising (and why it’s so awesome):

 

We hope to see all our startups hustling on Facebook and to see Facebook in Montreal again soon! 

Welcome to our newest team: Molson Export!

March 22, 2013 at 3:21 pm

Today we’d like to wish a warm welcome to the newest resident of Notman House and one of the best additions to our Cohort: Molson Export!

They’re providing a fridge, which of course we happily brought in and beer to make for many happy Fridays during our upcoming Cohort. The perks of having a beer fridge on site? Our startups will be working that much harder to make it to Friday night and deserve a cold one.

photo

 

2013 BDC Young Entrepreneur Award

January 30, 2013 at 9:24 pm

 

The BDC has some big news to announce. In fact, it’s a big competition: the 2013 BDC Young Entrepreneur Award! Here’s a little more about the award:

Are you an entrepreneur aged 18-35? Is your company at a crossroads? Do you have a solution that could take your business to the next level? Tell the BDC about it. It could be worth $100,000, or $25,000 in consulting services.

We at FounderFuel know better than many that all companies reach turning points — decisive moments when entrepreneurs need to make important decisions that can change the future of their business, and every entrepreneur’s turning point decision is different.

So why not take that turning point, that important decision, and compete to win $100,000 to implement your solution? We think you should! 

To enter the contest, create a short video (1 to 2 minutes) outlining the turning point or decisive moment your business has reached and the solution that will put it on a new trajectory toward growth. Your video is your pitch to Canada, so be clear, concise and persuasive. Then, fill out the 4-step application form and submit your video. Your proposed solution must not have been implemented already–that’s what the prizes are for, to help you through the change process.

Once applications have been received, the judges will choose 11 finalists — one from each province and one for the territories (Yukon, Northwest Territories and Nunavut)–to be featured on their national website and to receive cross-Canada visibility and national media coverage from BDC’s media partners.

THEN WHAT? This is the fun part.

Then, Canada will choose the winners. Canadians will vote on BDC’s microsite or Facebook page for the project they think most deserves the $100,000 Grand Prize. The finalist with the second highest number of votes will win $25,000 in consulting services.

Are you at a crossroads? Apply to be the BDC’s 2013 Young Entrepreneur. 

Want more information? Visit the BDC’s 2013 Young Entrepreneur’s official website here

Elevator World Tour…Coming to a City Near You!

December 11, 2012 at 5:19 pm

International Startup Fest: Announcing the Elevator World Tour

The International Startup Festival is hosting elevator pitch competitions in the most impressive elevators in major cities around the world. Everyone’s really excited about it. You should be too, because they might be coming to an elevator near you. They’re kicking off the Elevator World Tour at Toronto’s CN Tower, Canada’s tallest elevator. Accelerators, investors and startups are coming together for the ultimate elevator pitch competition. Winners will be announced that evening at a VIP cocktail at the top! For more information, to join them in bringing entrepreneurs to new heights, or to nominate your elevator, go to www.startupfestival.com/elevatortour

Perks!

July 9, 2012 at 7:36 pm

As part of the FounderFuel program, teams get access to over $100K in perks from over 75 different companies. These deals range from discounts on services to credits for use on merchandise. Not only do these perks help startups save money, they’re also crucial in establishing relationships between fairly established startups and those just getting off the ground. Our teams are proud to call companies like Amazon AWS, Zendesk, Pivotal, MixPanel and SendGrid–and many more!–their partners, and we are proud to offer such partnerships through our program. 

Managing perks like these can be tricky, which is why we recently jumped on board with Rewardli to keep all the FounderFuel perks in one place so teams can access the program’s perks via a simple home page.

If your company is interested in partnering with FounderFuel, submit your discount here!  

Startup Festival is Offering Tickets to Starving Startups!

June 27, 2012 at 2:51 pm

The International Startup Festival is bringing back its much-loved STARTUP PATRON and STARVING STARTUP PROGRAM!

What’s it all about, you ask?

A Startup Patron is a person who is doing their part to support the startup community. While they’ve made the registration fee as inexpensive as possible, not all startups are in a position to be able to afford this fee. And because this event is about startups, they want to give each one as much chance as possible to attend. Thus, they created a ticket for the event we are calling “Startup Patron” tickets. For every Patron ticket sold they will give two passes, one for the Patron and one for a “Starving Startup”. Patrons will be matched with the Startups they sponsor, they will be recognized on the website as a Patron, and they will be mentioned at the event. And let’s face it; you know what it’s like to need a mentor/patron so this is your chance to do good!

Calling all Patrons! Get your tickets HERE.

Are you a Starving Startup? Apply to get a ticket HERE.

Thank you to all the generous Patrons out there! 

Happy Birthday to JS!

May 16, 2012 at 7:57 pm

Today we wished JS Cournoyer, partner at Real Ventures, a very happy birthday. Hip hip! Hooray!

Day 39: John Stokes Gets Real About How to Pitch for a Seed Round

April 19, 2012 at 6:45 pm

Today, Notman’s own Real Ventures partner and FounderFuel mentor John Stokes talked to the teams about how to pitch for a seed round. The idea behind his class: “Attention, insight, implication, greed, capability, awareness, moving, ask, greed.” That’s his basic outline for how to pitch on Demo Day, which he went through in great detail and insight during his hour-long class. He also took the time to ask the teams for their insights, implications, capabilities, and the like, in order to bring the talk into perspective. John answered a few questions for us before coming in, which are just below, and we’ve included some insightful quotes from his talk below the interview. Comment if you have tips on how to pitch for a seed round! 

On Day 2 of the program (Show and Tell #1), you told the teams that it was your job to make them cry, only to then make them laugh even harder. What effects have you noticed the “tough love” approach has on startups and their founders?

We owe it to entrepreneurs to be honest with them. Being honest doesn’t mean being right, but it does force them to either a) change their views or approach or b) improve the messaging they use to deliver the story. One of these two things often has to change in order for an entrepreneur to succeed, but they aren’t going to go through the process of finding out which one it is unless they are challenged.

What role does being torn down and then picked up again play in an accelerator program?

Entrepreneurs have to focus intensely on their business in order to succeed. This does mean that they can often end up focusing inward and believing that “their” world is “the” world. They have spent so much time in their world it becomes “warm and comfortable” – they can become protected by their bubble – until they run out of oxygen in their bubble. Tough love is meant to pop that bubble ! Popping the bubble is uncomfortable for many, but it means that they can see beyond it, grow beyond it and most importantly, scale beyond it.

You have over 15 years of experience as a founder and investor in early stage startups. What was the first startup you ever played a role in?

The first one I founded was called Forte Communications and the product was called Bulletin.net. It was a great experience. We bootstrapped the company quite successfully and sold it in the late 90′s.

Is that what got you hooked?

I had always been hooked on the idea of building a business but having success certainly poured fuel on the fire.

You’re a citizen of both the UK and New Zealand. How did you end up in Montreal?

I met my now wife in Tokyo and she is a native Montrealaise – she sold me on the place !

What do you think the Montreal startup space has to offer that others don’t?

It has the essential ingredients that I think all startup environments need – close-knit community, good number of passionate entrepreneurs, willing mentors and a reasonable amount of venture capital.

You’re going to be talking to the teams about how to pitch for a seed round. What is the biggest mistake you think that startups make when pitching for a seed round, and how do you recommend they might fix this mistake?

Biggest mistake is thinking that your product is your business. Presentations that are all about features, roadmaps and generic industry growth charts miss the point. Entrepreneurs need to base their pitch on the key insight that drives their thinking, explain why this insight gives them an edge, and explain how this edge will place the company in a winning position.

What, for you, is the most rewarding part of being a mentor for FounderFuel and so involved in the program?

Seeing the change between day 1 and demo day and knowing that you have had some impact on that change.

Any words of advice for the cohort as they catapult themselves towards Demo Day?

Be unrealistic in what you think you can achieve by DemoDay – and then achieve it !

 

Here are some quotes and photos from his talk: 

“[Think] about it from an opportunity, rather than a problem point of view […] The problem matters to the person that might buy your product. The opportunity matters to the investor [...] I am not going to buy your product. I am going to invest in you so that others buy your product.”

“The more you can boil it down to that key insight, the more chance you have of creating a unique story about how you’re going to take ownership of this space … [you need to] really peel back the layers to understand what the insight is that drives your business.”

“Give a sense that the train is leaving the station and people need to jump on it. No one wants to get on a train that is not moving.”

“It’s not a snapshot, it’s a video. The video that you’re [showing] people is not just a video from day 1 to day 90, Demo Day, but it’s also then panning out and giving a sense of where it’s going to go in the future.”

You want them to say “‘They’ve had three months and shit, look what they’ve done.’ If it’s ‘Look, they’ve done shit,’ you’ve got a problem.”

Happy Birthday, Alan!

March 27, 2012 at 4:46 pm

Today we celebrated Alan’s birthday with the whole cohort, champagne, cake, and chocolates! Happy birthday, Alan! 

            

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