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Agile Mindset for Your Startup: From Vision to Viability
 

Agile Mindset for Your Startup: From Vision to Viability

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This is the presentation Jeffrey Beir & I gave at Harvard Innovation Lab on 7/23/2013. ...

This is the presentation Jeffrey Beir & I gave at Harvard Innovation Lab on 7/23/2013.

You’ve got a big idea addressing a huge market opportunity - should be no problem getting financed and building a successful company. But that’s not how real companies get built. In the engineering world, agile has replaced traditional waterfall methodologies because it lowers risk, improves predictability and allows for mid-course correction. The same applies when thinking about how you build your business.

Abby and Jeffrey will present a framework for building your business with an agile mindset and explain why most companies should be built this way...

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    Agile Mindset for Your Startup: From Vision to Viability Agile Mindset for Your Startup: From Vision to Viability Presentation Transcript

    • Vision to Viability Agile Mindset for your Startup Abby Fichtner @HackerChick Harvard Innovation Lab Jeffrey Beir @jbeir seed2A
    • @jbeir | @HackerChick@jbeir | @HackerChick@jbeir | @HackerChick
    • Startup Stage? Idea Plan/Prototype Building Product in Market
    • Some startups get stuck in the mud • Too big, or too small of an idea • All product, no customer • Surprised by external events • Assuming a straight line • Running out of money
    • 9 out of 10 New Products FAIL
    • @jbeir | @HackerChick Single Biggest Predictor of Failure?
    • @jbeir | @HackerChick Single Biggest Predictor of Failure? Sticking to Initial Business Plan
    • @jbeir | @HackerChick@jbeir | @HackerChick
    • We DON’T Have All the Answers! What should we DO About it?
    • Defer Decisions Deliver Fast AGILE Mindset Iterate Learn Eliminate Waste
    • Agile Mindset: Vision to Viability Vision Focus Risks Flexibility Sequence Value
    • VISION
    • @jbeir | @HackerChick
    • @jbeir | @HackerChick
    • @jbeir | @HackerChick@jbeir | @HackerChick “To organize the world’s information and make it universally accessible & useful”
    • @jbeir | @HackerChick@jbeir | @HackerChick “To be the earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”
    • @jbeir | @HackerChick@jbeir | @HackerChick “To be the pulse of the planet”
    • @jbeir | @HackerChick
    • @jbeir | @HackerChick
    • @jbeir | @HackerChick
    • What’s Your Big Vision?
    • FOCUS
    • GoBig VISION
    • GoBig VISION
    • @jbeir | @HackerChick
    • GoBig GO SMALL (dominate Small Market) VISION
    • Minimal Viable Company Financeable - oR – Self-Sustaining
    • What’s Your MVC?
    • RISKS
    • Sources of Risk IP Competitors Customers Suppliers Employees Technology Legislation
    • What’ Risks Are you Taking?
    • VALUE
    • How can I demonstrate value? Progress towards vision User traction Product/technology Not the Kitchen Sink Revenue
    • @jbeir | @HackerChick
    • @jbeir | @HackerChick @ashmaurya, Running Lean
    • @jbeir | @HackerChick @ashmaurya, Running Lean
    • What’s Your Most Important Metric & What are you doing to move it?
    • SEQUENCE
    • Riskiest Assumptions? Can I Build It? Can I Get People to Know About it? Can I Make Money from It?
    • Can I Make Money from It? Riskiest Assumptions? Can I Build It? Can I Get People to Know About it?
    • Milestone- Driven Development
    • MDD Logical milestones that achieve certain proof points, and allow to you raise capital, (ideally at an increased valuation).
    • MDD Start with your MVC • What (will I prove)? • How (will I prove it)? • When (and how much)?
    • @jbeir | @HackerChick Half done on all elements isn’t financeable
    • @jbeir | @HackerChick Prove something
    • Flexibility
    • Set interim milestones Plan for rework Build in Flexibility Build the bare minimum Test early and often Add cushion
    • Agile Mindset: Vision to Viability Vision Focus Risks Flexibility Sequence Value
    • But will I get financed?
    • How do I protect my downside? What proof do you have that it will work? You should be able to answer these questions Why is this a big opportunity? How can I write a small check so I can see some proof? what will you do next and how much more capital will you need? What can go wrong?
    • Agile Mindset: Vision to Viability Vision Focus Risks Flexibility Sequence Value
    • Jeffrey Beir, seed2A @jbeir | seed2a.com Abby Fichtner, i-lab @HackerChick | HackerChick.com