Idea to Reality, as I mentioned at the start it’s all about execution
What happens if you don’t have an idea?
Search for problems Twitter Conference Presentations
Even if it’s completely random
Start testing and validating as quickly and dirty as possible. Tim Ferrirs – Adwords for the title. Book in bookstores, changed covers and watched people to see if they spotted and picked up the book. Naughty… smart… but naughty.
Only one sure fire way to get validation – get someone to pay for it
How to solve the empty community problem
Dropbox Spotify Gmail Google Facebook
Biggest way to get to a $1b.
Get them to bring more people
Sold Paypal in 2002 for $165m
Embracing “Startup Life” and learning
to think “The Startup Way”
Disney – To make people happy
Ikea – To create a better every day life for the many
Wal-Mart – Become a $125 billion company by the year
Honda – in 1970: We will destroy Yamaha.
Nike – in 1960s: Crush Adidas.
Stanford University – To become the Harvard of the
Telsa - To accelerate the advent of sustainable
transport by bringing compelling mass market
electric cars to market as soon as possible
SpaceX - To accelerate development of rocket
technology, all for the goal of establishing a
self-sustaining, permanent base on Mars
People don't buy what you do;
they buy why you do it.
Ideas to avoid / be aware of?
• Market places / two sided markets
– They do lead to digital transaction businesses ==
most likely to hit $1b
– Winning once is hard. Here you need to win twice.
– Generally all about luck
• Photo Sharing etc
– Yawn!!! Be original.
Easier to go from shit to great
than from nothing
“An MVP is an experiment that tests a
critical, falsifiable hypothesis of your
“MVPs are just a tool to conduct fast,
measurable customer learnings”
Devin Hunt - http://dex.io/hailpixel/mvps-in-practice/
Elon Musk - 2008
SpaceX Falcon 1 launches was 0 for 3.
Telsa was hemorrhaging money
“man, I never thought I was someone who
could ever be capable of a nervous breakdown”
~Iron Man Elon Musk
Elon Musk - 2008
Sept. 28, 2008 - Falcon 1 – Successful
launch on fourth attempt
Dec. 23, 2008 - SpaceX awarded $1.6billion
Dec. 25, 2008 – Telsa investors pour more