Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna


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Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna

  1. LessonsLearned #sulvienna13 – @andreasklinger
  2. The hype of“Startups”[ ] Do magic landing page[ ] Build your thing[ ] Go to shit-loads of conferences[ ] Get Investment[ ] Get on Techcrunch[ ] Get viral[ ] Get rich[ ] … or fail and start an acceleratorThere is too much noise…We tend to believe the “rockstar” sh*tSome lessons from someone beenthere.
  3. INVESTORS Carmen Busquets Dave McClure Eden Ventures Sherry Coutu Tom Hulme Seedcamp 500 Startups LOOKK Social Discovery &Shopping of emerging Fashion Designers.
  4. OK June 2008 GO June 2010 Sept. 2011 May 2012 2.0ext QUIT Oct 2012 @andreasklinger
  5. No time forWar-stories.Read: www.klinger.ioor: http://www.thegap.at/autoren/autor/redakteur/andreas-klinger/@andreasklinger#sulvienna13slides: http://slideshare.net/andreasklinger
  6. LessonsLearned #sulvienna13 – @andreasklinger
  7. Don’t rush #sulvienna13 – @andreasklinger
  8. Don’t rush ahead. Typical patterns something is wrong: “We need more customers” “We just need an investment” “We are looking for a VC” “How do i scale” … but no market proofflickr: good_day #howtoweb – @andreasklinger
  9. Startups have phases. Scale into Find Find Get efficient similar problem/ product/ in Cust-acq. markets and solution market products Always be aware - Which phase are you? Act accordinglyfoto: LEAN LA #howtoweb – @andreasklinger
  10. E.g. Marketing Stunts, PR Campaigns Without a proven product you get thousands people on your product. They will not stick. Just slide off. Teflon Marketing Usually biggest reason your product doesn’t sell: It’s not solving the customers problem. Focus on customer retention not acquiring more.flickr: neilarmstrong2 #howtoweb – @andreasklinger
  11. Scale into Find Find Get efficient similar problem/ product/ in Cust-acq. markets and solution market products Qualitative Quantitative Validation ApproachesThere is nothing you learn from 1000 or 10.000potential customers, you wouldn’t learn from 10 or 100. #howtoweb – @andreasklinger
  12. Focus #sulvienna13 – @andreasklinger
  13. Focus your product.Dont confuse long-termvision with short-termstrategy.What is really the coreof what you do?Start with that and nothingelse.Plan outcomes not tasks
  14. What’s your product’s job.Do guys get racing cars justto drive to work?Read about Jobs to be doneframework by ClaytonChristensenUnderstanding the real job:- better value description- better focus- better product differentiation
  15. Marry a problem, not a solution Space Problem ,- current | solutionflickr: bombeador #sulvienna13 – @andreasklinger
  16. When we speak withcustomers…We bias them…Please watch Rob’s Talk:http://bit.ly/rf-custdev
  17. Niche,but globally #sulvienna13 – @andreasklinger
  18. Find your global niche We are trained to niche regionally. Find your global’s best… Customers, Partners, Advisors Get traction in your niche before you extend.flickr: jdhancock #sulvienna13 – @andreasklinger
  19. Investment #sulvienna13 – @andreasklinger
  20. Money is either… For proofing - you need surprisingly little For growing - did you proof? Try not to mix them up.flickr: bombeador #sulvienna13 – @andreasklinger
  21. “We are talking to VCs” It’s easy to get a meeting. VCs have “Radar” people. “Associates.” Nothing but a time-sink. Don’t think of investments as a milestoneflickr: bombeador #sulvienna13 – @andreasklinger
  22. How to approach investment: Draft your company’s topics community hotels marketplaces global scale Find the best possible advisors for each topic. Global people. Try to get them commit in time first, then in investment.flickr: nasamarshall #howtoweb – @andreasklinger
  23. B-level peoplegive C-level adviceWork with the best accelerators andincubators to get network to advisors.Risk-takers need guidance.Best incubators:YCombinator500 StartupsTech StarsSeedcampAngelpad
  24. Avoid the typical mistakes… “There is no* NO GMBH Heimvorteil in* NO STATEFUND investment…”* DO VESTING* FUNDRAISE GLOBALLYflickr: eole #sulvienna13 – @andreasklinger
  25. Summary: Don’t rush, be aware of your phase Focus. Get traction by global niching Be strategic about investmentflickr: good_day #sulvienna13 – @andreasklinger
  26. Thanks! Feedback & Questions please. #sulvienna13 – @andreasklingerflickr: pictureperfectpose