Auto/pers What onal/comm will you unities? need to What do Who areWhat can master? you offer? youryou Value? customeroutsource Uniqueness s?to whom? ? What do How to you need communic to build ate & up? deliver? How will What you make are my money? costs?
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Merchant Personal/Call Acquisition Centers Copy-writing Automated/ Deal New, local Merchants E-mail selection customers (guarantee #) Consumers Discounts Direct sales Email DB Google ads Personalization engine Social media 50% commission Cust. acquisition Merchant (30% of revenue) 20% unfulfilledAcquisition (sales = groupons ½ employees) Churn
parkr™ Bootstrapping: parking scouts SMS Help find Drivers in parking Mobile appGPS producers cities Monetize Near-location unused notifier + UI parking App store Community Viral User credit cards Micro Community commission Platform (parking spotter)
parkr™ Bootstrapping: parking scouts SMS Help find parking Mobile app Drivers inGPS producers cities Monetize Near-location unused notifier + UI parking App store Community Viral User credit cards Micro commission Community Platform (scouts)
Customers Problemdo I know who they are & how to reach top 3 customer problems? them? Pain level: must have vs nice to Segment? Early adopter? have Roles: user, economic buyer, Awareness: active vs. latent influencer, saboteur? How do they search for Alternatives : how do they deal products? with these problems today? Solution top 3 product features? Do they solve the top 3 problems? Barriers to adoption (e.g. fit/integration with existing workflow)? Is my price accepted?
A 1st problem is… Would you pay $20 aDoes this resonate with month to use a tool likeyou? How do you deal this?with it today?Is it a must-have?... This is how our solution looks today (screen per problem). Which of the screens resonated the most? Which could you live without? Are there any additional features you think are missing? Use Mocks
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Document Hypotheses Pivot or Experimentpersevere
CHEATSHEET Customer problem pivot: same product, same segment, different problem Change of an aspect of Starbucks : started selling coffee beans & espresso makers Segment pivot: same product , similar problem, a business model different set of customers e.g. consumers aren’t buying, enterprises have a similar problem Successful startups Sometimes a pure marketing change Technology pivot: repurpose the technology to solve a change direction quickly more pressing or marketable problem Product feature pivot: remove features for focus, or to Based on learning add features for a more holistic solution pay close attention to what real customers are doing Revenue model pivot e.g. from a premium customized, to a low price commoditized solution Grounded in the vision e.g. from a one-time sale to monthly subscription or license fees e.g. razor versus blade strategy They keep one foot in the Sales channel pivot: use lessons learned from customers to switch from direct sales past and place one foot in E.g. distribution channel, ecommerce, white-labeling … Product versus services pivot: if products are too a new possible future different or too complex to be sold effectively to the customer with the problem bundle support services with the product, education offerings... Vision: search space Major competitor pivot: react when a major new player or competitor jumps into your space one of the above pivots to build your differentiation and stay alive
Parkr™ foursquare for parking spots Bootstrapping: parking scouts SMS Help find parking Community Drivers inGPS producers cities Monetize Near-location unused notifier + UI parking App store Community Viral Cities Promoting User credit public cards Mobile app transport App fee Micro Building commission Platform Community Subvention (critical mass)
IDEAS Pivot Continuous LEARN BUILDRoot-cause deployment DATA PRODUCT MEASURE Metrics Lean startup Feedback build-measure-learn loop by Eric Ries
Counter-intuitive and Speed beyond comfort zone If you’re really on to something, there are other Learn from the data 4-5 companies pursuing a similar vision You don’t get a gold star for following the process Techniques helpful, but It’s okay to be you need to be very opportunistic creative …but stay grounded in your vision Emotional rollercoaster Find mentors
Lean Startup by Eric Ries Tools startuplessonslearned.com leancanvas.com theleanstartup.com/book leanlaunchlab.com sllconf.com usertesting.com Steve Blank KissMetrics, Piwik steveblank.com uservoice.com steveblank.com/books.html Ash Maurya More references ashmaurya.com businessmodelgeneration.com runningleanhq.com (book) venturehacks.com Dave McClure 500hats.typepad.com AARRR: Startup metrics for paulgraham.com pirates news.ycombinator.com/ Even more: steveblank.com/tools-and- blogs-for-entrepreneurs
Startup Weekend Talk to us Brussels 21-23 October Vladimir Blagojevic Featuring Ash Maurya ▪ vladimir .firstname.lastname@example.org brussels.startupweeken ▪ blog.launched.be d.org ▪ @vladblagojevic betagroup.be Nick Boucart Founder Institute & ▪ email@example.com MIC ▪ sinnobok.org westartup .eu ▪ @nickboucart techbrew.be ▪ Book: The art of software innovation