Redefining your big idea

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This is a talk for participants of the second #startathon in Singapore.

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Redefining your big idea

  1. 1. Masterclass workshop: Redefining your big idea Ryan Lou @RyanLou (Twitter) Ryanlou11@gmail.com
  2. 2. The sad truth Your Idea could be worth billions, but you won’t see a cent of it.
  3. 3. Because… •  •  •  •  •  •  •  •  •  •  •  •  Branding Marketing Forming a team Differentiation Finding partnerships Selling your product Pricing Policies IP protection Design Customer personas User Experience Global markets •  •  •  •  •  •  •  •  •  •  Investors Pitch Decks Government grants Unique propositions Taglines Domain names User stories Picking features Interfaces Team ownership Technology Product testing Market segments Firing staff Team cohesion Founder personality Accounting Innovating Building communities •  LUCK •  •  •  •  •  •  •  •  • 
  4. 4. Also… •  Innovation is becoming increasingly rare and complex
  5. 5. But… •  How does someone who has no idea how a digital camera works •  Take this picture
  6. 6. So… •  You don’t need to know how it works •  Just how to use it
  7. 7. So… •  You don’t need to know how it works •  Just how to use it •  Or as a founder •  Why use it (Problem) •  Who will use it (Customer) •  How they will use it (Product)
  8. 8. Wait… •  How do I know what’s important? •  Business model canvas –  –  –  –  –  –  –  –  –  Key partners Key activities Key resources Value propositions Customer relationships Channels Customer segments Cost Structure Revenue Streams www.businessmodelgenera0on.com/canvas  
  9. 9. Then… •  Focus on the most important
  10. 10. The basis of lean startups •  Learning which activities in a startup creates value
  11. 11. The basis of lean startups Early  focus  was  on  ge#ng  any  individual  to     7  friends  in  10  days.    
  12. 12. The basis of lean startups Get  users  to  5-­‐10  twi:er  accounts  in  their     first  day  on  twi:er.    
  13. 13. Workshop Exercise… •  I need 3 ideas to talk about… –  –  –  –  The problem Who faces it The product The team’s background
  14. 14. The basis of lean startups Validating the idea 1.  Hit the streets 2.  Use social media 3.  Skype with experts/ potential customers 4.  Setup a landing page 5.  Ask for referrals via email Testing the product 6.  Concierge approach 7.  Product pitch 8.  Using free/Creative commons content 9.  Concept demos 10. Produce a video
  15. 15. #1 Hit the streets
  16. 16. #2 Use social media 90k  Retweets  
  17. 17. #2 Use social media Step  2:  Link  to  landing  page   in  profile   Step  1:  Follow  someone  on  TwiCer   Step  3:  Collect  email   addresses  
  18. 18. #3 Skype with experts Source:  hCp://blog.trak.io/39-­‐ac0onable-­‐ growth-­‐hacking-­‐tac0cs-­‐part-­‐1-­‐of-­‐5/  
  19. 19. #4 Setup a landing page Dropbox  Startup  Lessons  Learned  
  20. 20. #5 Email referrals Ash  Maurya,   Running  Lean   Hey  {Friend},       Hope  all  is  well,  I  have  a  quick  favor  to  ask.       I’ve  got  a  product  idea  that  solves  [problem]  that  I’m  trying  to   validate..  I’d  appreciate  if  you  can  send  this  message  along  to   people  you  know  who  fit  this  target.       (Feel  free  to  change  a  bit  if  you  like)       -­‐-­‐-­‐       Hello,  we’re  a  [market]  company  working  on  a  new  service  to   solve  [Problem].       I  would  like  to  get  30  mins  of  your  0me  to  help  understand  how   you’re  solving  this  now.  I’m  not  selling  anything  just  looking  for   feedback.      
  21. 21. #6 Concierge Approach
  22. 22. #7 Product Pitch Sell  your  product   before  it  exists  
  23. 23. #8 Using free content
  24. 24. #9 Concept demos
  25. 25. #9 Concept demos
  26. 26. #10 Produce a video
  27. 27. Thank you! Here’s how you can get connected: @RyanLou   And if you like, stay and we’ll work through your ideas.

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