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

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  • 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