A startup education prior to diving in
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A startup education prior to diving in

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In Ideasinc, we have discovered and combine cutting edge concepts and framework tools that have proven useful to help startups discover uncertainties sustainably. This leads to better product market ...

In Ideasinc, we have discovered and combine cutting edge concepts and framework tools that have proven useful to help startups discover uncertainties sustainably. This leads to better product market fit ...

Business Model Canvass + Customer Development / Lean Startup + Design Thinking (we adding Future Thinking very soon, so watch this space ...)

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A startup education prior to diving in A startup education prior to diving in Presentation Transcript

  • HOW WE HELP STARTUPS BEFORE THEY DIVE IN @khairurejal
  • EVERYBODY HAS A PLAN UNTIL THEY GET PUNCH IN THE FACE MIKE TYSON
  • In a more robustand dynamic manner!
  • When big companies ignore smaller markets, startups disruptively creep in ... ...#ideasinc.sg
  • USD2.5B
  • USD8.5B
  • SME   Businesses people  who   need  to   communicate   globally Free  VOIP/   Free   Calling skype.com service  management payment   provider software software  developers mass   customization software   development cheap  calls skype  out service   management software   development payment   provider
  • multi-sided platform
  • “students” advertisers Free   Search google.com search   platform platform  cost Targeted   Ads free! keyword   auction platform   management service   management google.com platform   management expand  reach platform  cost 3rd  Party   Ads content   owners expand  reach service   management keyword   auction
  • KNOWN
  • Customer feedback is integral to the lean startup, and ensures that the producer does not invest time designing features or services that consumers do not want.
  • Do you understand what your customer wants?
  • “Most startups fail due not to the failure of product development but due to the lack of customers”
  • Ask yourself, does my product address any pain?
  • CUSTOMER   DISCOVERY 1 CUSTOMER   CREATION 3 COMPANY   BUILDING 4 CUSTOMER   VALIDATION 2 KNOW YOUR CUSTOMER! PIVOT
  • WATERFALL MODEL requirement design implementation verification maintenance
  • CUSTOMER   DISCOVERY 1 CUSTOMER   VALIDATION 2 PIVOT VALIDATED LEARNING
  • GET OUT OF THE BUILDING
  • But, what do you do when you get out of the building?
  • What was interesting with that video?
  • VALIDATION
  • KNOWN
  • CUSTOMER SEGMENT VALUE PROPOSITION HYPOTHESIZING The different groups of people or organizations that you are reaching out to or aim to serve. The products and/or services that create value for the Customer.
  • CUSTOMER SEGMENT VALUE PROPOSITION HYPOTHESIZING ‣ Needs ‣ Behaviour ‣ Price sensitivity ‣ Demographic ‣ Geo-Culture ‣ Life-style ‣ Profession ‣ etc. ‣ Newness ‣ Improved Performance ‣ Greater Customization ‣ Getting-the-job-done, and better ‣ Greater Design ‣ Brand/ Status ‣ Price ‣ Risk Reduction ‣ Convenience
  • SOLUTION HYPOTHESIS CUSTOMER HYPOTHESIS 1 3 orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum. Typi non habent claritatem insitam; est usus legentis in iis qui facit eorum claritatem. Investigationes demonstraverunt lectores legere me lius quod ii legunt saepius. Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum. Mirum est notare quam littera gothica, quam nunc putamus parum claram, anteposuerit litterarum formas humanitatis per seacula quarta decima et quinta decima. Eodem modo typi, qui nunc nobis videntur parum clari, fiant sollemnes in futurum. PROBLEM HYPOTHESIS 2 orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil
  • ASKING THE RIGHT QUESTION EXERCISE NOW
  • % + VALIDATED or INVALIDATED
  • EARLY ADOPTERS #  1    -­  do  the  customers  actually  have  the  problem #2  -­  if  there  was  a  solution,  would  they  buy  it? #3  -­  would  they  buy  it  from  us?
  • Text Fail fast to succeed sooner
  • SUCCEED SOONER FAIL FAST TO
  • CUSTOMER   DISCOVERY 1 CUSTOMER   VALIDATION 2 PIVOT VALIDATED LEARNING
  • MINIMUM VIABLE PRODUCT MVP helps entrepreneurs start the process of learning as quickly as possible. MVP does not just merely answer product design or technical questions, but often as well test fundamental business hypothesis Hi! What do you think of this?
  • MINIMUM VIABLE PRODUCT MVP helps entrepreneurs start the process of learning as quickly as possible. MVP does not just merely answer product design or technical questions, but often as well test fundamental business hypothesis Wow! This is totaly what I have been looking for!
  • VALIDATION I’ll  pay  you  right  now  at  half  the  cost  that  you   would  charge  others  when  you  launch! Sure,  here  are  my  details  and  I  would  love  to  know  more  :) Ok,  I’ll  “like”  your  Facebook  page    
  • NEED WANT Where have you been, I must have this! That’s Really nice, but ...
  • VANITY METRIC The real data is retention and repeat usage!
  • Get ready to pivot!
  • ABOUT PIVOT 1. Pivots are restatements of your business model, not synonymous with change. 2. Pivots are a consequence of learning about your business, not just your product (i.e. the business is not sustainable!) 3. Step away and zoom out ... 4. Pivot is part of founder’s visioning process, through deep considerations leading to that decision.
  • Zoom-in pivot: What previously was considered a single feature in a product becomes the whole product. This highlights the value of “focus”. Zoom-out pivot. In the reverse situation, sometimes a single feature is insufficient to support a customer set. In this type of pivot, what was considered the whole product becomes a single feature of a much larger product.
  • Customer segment pivot: Your product may attract real customers, but not the ones in the original vision. In other words, it solves a real problem, but needs to be positioned for a more appreciative segment, and optimized for that segment. Customer need pivot. Early customer feedback indicates that the problem solved is not very important. This requires repositioning, or a completely new product, to find a problem worth solving.