2 years, 1 deck - Lessons learned doing my startup

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I gave this talk in seedcamp paris. It's about things we did right and things we did wrong with LOOKK.com. …

I gave this talk in seedcamp paris. It's about things we did right and things we did wrong with LOOKK.com.

Disclaimer: We actually worked 3-4 years on LOOKK.com But for simplification i excluded the wins and fails of the time before launch.

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  • 1. 2 years, 1 deck Things… We did right We did wrongflickr: pictureperfectpose #seedcamp – @andreasklinger
  • 2. June 2010 Sept. 2011ext May 2012 2.0 @andreasklinger
  • 3. TextJune 2010 - Garmz.comYou design, we do the rest. @andreasklinger
  • 4. Bird-eye view ofour processes.Done for a“F-Level” Investor.“Most complex businessmodel ever (tm).”It worked. But toomany moving parts. @andreasklinger
  • 5. G IN TH Bird-eye view ofDA our processes.B Done for a “F-Level” Investor. “Most complex business model ever (tm).” It worked. But too many moving parts. @andreasklinger
  • 6. G IN THD Us:AB fanbase crowd- proto- pre- prod- logistics building sourcing typing ordering uction Competitor: fanbase crowd- proto- pre- prod- logistics building sourcing typing ordering uction
  • 7. G IN THDAB @andreasklinger
  • 8. G IN TH E M O ESAW Very Strong Community & Support Mostly through telling the “Startup Story” @andreasklinger
  • 9. Very successful competition:- 7 Fashion shows- 25k+ new users- 100’s of sketches submissions- 100’s of collections (first time)All numbers UP X-timesDuring fundraising ! @andreasklinger
  • 10. G IN THDAB Very successful competition: - 7 Fashion shows - 25k+ new users - 100’s of sketches submissions - 100’s of collections (first time) All numbers UP X-times During fundraising ! @andreasklinger
  • 11. G IN THDAB Competition Created “Dataschmutz” * Users had huge extra incentive. * Marketing can hurt your numbers. * While we decided on how to relaunch we had dirty numbers. @andreasklinger
  • 12. G IN TH E M O ESAW September 2011 Launch of LOOKK.com @andreasklinger
  • 13. G IN TH E M O ESAW INVESTORS Carmen Busquets Dave McClure Eden Ventures Sherry Coutu Tom Hulme Seedcamp 500 Startups … Acceptance in fashion scene PARTNERS + Awesome investors Rafael Jimenez Marco Innocenti … @andreasklinger
  • 14. G IN TH E M O ESAW Won Techcrunch’s “Best Fashion Startup” Europas Acceptance in fashion scene + Awesome mentors @andreasklinger
  • 15. G IN THDAB Relaunch = “All-in Pivot” Bad: * should have “launched” separately (no compromise) * slow big change * worried a lot about scaling * based on invalidation not validation (no learning what actually works) @andreasklinger
  • 16. G IN TH E M O ESAW Starting to rethink… Found out we were biasing & misunderstanding customers… Please watch Rob’s Talk: http://bit.ly/rf-custdev @andreasklinger
  • 17. G IN TH Started doing E M Customer Development O ESAW Turns out… We had no idea. Pink = assumptions Yellow = new learned facts <- Sea of Sorrow aka Invalidated Assumptions @andreasklinger
  • 18. G IN TH E M O ESAW Jan 2012 - Instead changing the whole website & backend-processes (3 months lead) we started experimenting with isolated tests … @andreasklinger
  • 19. G IN TH E M O ESAW LOOKK 2.0 * zoom-in pivot * focus on the things that worked @andreasklinger
  • 20. G IN TH E M O ESAW LOOKK 2.0: fanbase crowd- proto- pre- prod- logistics building sourcing typing ordering uction * focus on the things that worked * focused team -> down to 3 people (excl. me)
  • 21. No longer operative since November 2012 Move to Berlin: Prototyping on new ideas.2 Years of rollercoaster2 Years of failure and success2 Years of loads of awesome learning #seedcamp – @andreasklinger
  • 22. Thanks! 2 years 1 deck #seedcamp – @andreasklingerflickr: pictureperfectpose