How to build a startup?

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How to build a startup?

  1. 1. How to build yourstartup?1By Abdullah AlshalabiDate: 25th of MarchEvent: StartupQ8 the 6th
  2. 2. The light bulb moment2
  3. 3. Everyone has thesemoments3
  4. 4. The challenge is how tomove fromAn idea A great businessinto4
  5. 5. Old School methodPlan Build Wait and Pray1 2 3LaunchTime3-4 months 9-12 months5
  6. 6. Plan Build Wait and PraySpend a lot inmarketing1 2 3LaunchTime3-4 monthsBusiness Plan9-12 monthsThings we used to do Things we used to doKeep it a secretThings we used to doRefuse to changeThings we used to doOld School method6
  7. 7. The NEW Startup schoolSteve Blank Eric Ries Alex OsterwalderThe four steps to the epiphany The lean startup Business Model GenerationThe Startup Owner’s Manual 7
  8. 8. Plan Build Wait and Pray1 2 3BuildTest andMeasureLearn andpivotThe old School methodThe NEW school method8
  9. 9. BuildTest andMeasureLearn andpivotA continues processFake ProductphaseMVP phaseFinal Productphase1 2 3Three phases9
  10. 10. Fake Product MVP Final Product1 2 3Is a non functional product:- A prototype- A landing page- A video- A drawing- Power point slides- A drawn story10
  11. 11. Fake Product MVP Final Product1 2 3Buffer fake landing page11
  12. 12. Fake Product MVP Final Product1 2 3MVP = Minimum Viable ProductMVP has just those features thatallow the product to be functional,and no more.You should be embarrassed to show itto people12
  13. 13. Fake Product MVP Final Product1 2 3Fishfishme 1st MVP13
  14. 14. Fake Product MVP Final Product1 2 3Final productIs your beautiful product that youwant everyone to see and you arevery proud of14
  15. 15. Fake Product MVP Final Product1 2 3Fishfishme now15
  16. 16. Fly or Die Cycle$$Time1 week – 4 months1 weekto 4 weeksDie Die$$3 months - ∞FakeProductPhaseMVP phase Final ProductPhase16
  17. 17. Phase 1: Fake Product17
  18. 18. Why we need a Fake product?To test demand To get feedbackThe fastest way….18
  19. 19. How to build it?Build it yourself or get help froma friendAvoid spending moneyas much as you can19
  20. 20. How to test?Start with friendsThen friends of friendsThen people you don’t know20
  21. 21. How to test?Use Instagram or other social networks21
  22. 22. How to test?Another great way to test is via Google AdWords22
  23. 23. Step 1: Buy a domain name for $12 from GoDaddy.comHow to test?23
  24. 24. Step 2: Create a landing page using Wix.com, Unbounce.com, orpower point!!How to test?Choose a countryChoose a country:24
  25. 25. Step 3: Buy Adwords from google (Fishing in Spain, Fishing boatsFishing Trips…etc) Will cost ≈ US$0.3 per clickHow to test?Set your daily budget at $5 or $10Wait and enjoy the show!!25
  26. 26. Step 4: Track and measure using Google Analytics, Google adwordsor unbounce.com to check the resultsHow to test?• I got 30 clicks everyday• I learned how many people are searching for fishing boats around theworld• I learned that people in UK are searching for fishing trips in Spain26
  27. 27. How to make decision?One advice, Never give upUse what you learned to modify youridea and to build a better MVP27
  28. 28. Phase 2: MVP28
  29. 29. What is an MVP again?MVP has just those features that allow theproduct to be functional, and no moreMVP Phase Real Product Phase29
  30. 30. Why we need an MVP?You need MVP to test if people arewilling to pay for your product andeverything else30
  31. 31. What is everything else?Who’s yourcustomers?How you are going to make?And your pricing?How much it will cost you?How areyourpartners?Whatshould youhave todeliver?What youshould yoube goodat?What isthe valueto yourcustomers?What areyou going touse to reachyourcustomers?How youshouldmanage yourclients?31
  32. 32. How to build it?If not, then go there and findyourself a programmer (try Odesk.com)If you are a programmer then youare lucky, build it yourself32
  33. 33. How to test?33
  34. 34. Step 1: Write your assumptionsAssumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!34
  35. 35. Step 2: Build a crappy version35
  36. 36. Step 3: Drive traffic36
  37. 37. Step 4: Test your assumptionsBegging for feedbackMeeting your clientsAlways be ready to change (Pivot)Getting out of the officeUnderstanding their needsBy….37
  38. 38. Step 5: Measure your numbersUsing Google Analytics, your mind andyour calculatorIs there a market for myproduct?How much it costs to acquire one customer?What is the conversion rates?How much I should charge my customers?Is there enough value in my product?38
  39. 39. Step 6: Revisit your canvasAssumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!✓✖✓✓ ✓✖ ✖✓✓39
  40. 40. And then redo everythingBuildTestandMeasureLearnand pivot40
  41. 41. Until you reach thisAssumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!Assumptions?!?!?!?!✓✓✓ ✓✓✓✓✓41
  42. 42. And this what we call PMFProduct Market Fit42
  43. 43. Now go build your final product43
  44. 44. Phase 3: Final Product44
  45. 45. 1- Domain guy (the guy with the idea)2- Programmer3- DesignerForm your team45
  46. 46. Build your beautiful product46
  47. 47. Now go crazy with getting moreand more customers47
  48. 48. Remember……48
  49. 49. You still need to do thisfor every new featureBuildTestandMeasureLearnand pivot49
  50. 50. If you do this……50
  51. 51. You’ll be a millionaire51
  52. 52. Feel free to ask any questions :)52

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