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  • 1. produced by
  • 2. Team Shervin Talieh - Drumbi,Version Zero Labs, OC Tech Startup Format 2 produced by Melinda Kim - Aspirely, OC Tech Startup Charlie Baecker - UCI,The Don Beall Center for Innovation & Entrepreneurship 4-part series, hands-on, no bullshit, discussion based Connecting #innovateuci @calitalieh @melindapkim
  • 3. Forward 3 “As disruption occurs, it commoditizes a layer in the stack, so what used to be a high value- added activity that was very profitable and others couldn’t replicate, now becomes cheap and easy and anyone can do it. It used to be that news and information was one of those layers in the stack — no one could play that game like the NewYork Times… but now everyone has access to more information than they could possibly use.” - Clay Christensen produced by
  • 4. Workshop Thesis 4 We are entering an economic cycle of growth and expansion.The ability to innovate is what will separate the winners from the losers, the “good idea” from the killer product. produced by
  • 5. Which One AreYou? 5 produced by Startups are not smaller versions of big companies. They innovate, or die. Startups Enterprise
  • 6. Two Categories - Which One AreYou Focused On? • Product • New Offering • Partnership • Rebranding 6 • Process • Business Model • Incentives • Training produced by Two “Faces” ExternalInternal “how” “what”
  • 7. 7 Success is the silent killer of innovation. Automation,“group think”, conventions and conformity are the instruments of death. High revenues and margins kills hunger, and attracts the hungry. produced by 0 25 50 75 100 Idea Launch Success Scale Revenue Velocity What Kills Innovation? Achilles Zone
  • 8. 8 The most successful companies keep the pace of innovation constant, while commodotizing their own cash- cows. This results in a shorter, smaller window for external forces to impact the business. produced by 0 25 50 75 100 Idea Launch Success Scale Reinvent Relaunch Revenue Velocity Controlling the Disruption Controlled Disruption
  • 9. • My idea is priceless • I don’t know where to begin • I can’t show it anyone...it’s not ready • I just need $$$$ • I just need a meeting with Sequoia • I need a technical cofounder/developer/designer/business person Startup Founder’s Perspective 9 produced by
  • 10. Enterprise CXO’s Perspective 10 produced by • This would never work at our company • You don’t understand our industry/customers/people • We can’t stop our business to make these changes...it’s not a good time • That’s now how we do it here
  • 11. This Stuff Doesn’t Matter (much)...in the Short-Term ✓ BUSINESS PLAN & DETAILS ✓ COMPETITION ✓ PRODUCT OR COMPANY NAME ✓ URL 11 produced by ✓ COMPANY STRUCTURE ✓ $$$$$$ ✓ PATENTS/IP ✓ TEAM & RESOURCES ✓ ADVANCED/PERFECT PLANNING
  • 12. Validating a key assumption which could otherwise prove fatal, by pulling “risk forward” 12 produced by So...What Does Matter?
  • 13. The Old Way - Waterfall,“Idea’s Are King” 13 produced by ! I"have"an"idea…" I"have"a" sustainable" solu1on" RESEARCH MARKETING SALES $$$$$ $$$$$ $$$
  • 14. The New Way - Kill Fast,“Velocity is King” 14 produced by the$goal$is$to$get$to$this$point$as$ quickly$and$efficiently$as$possible$ ! I"have"an"idea…" I"have"a" sustainable" solu1on"
  • 15. 15 produced by 5"1" Start" (“I"have"an"idea!”) 2" 3" 4" What"type"of"idea"is"it?" ■  brand"spanking"new!" ■  a"beBer"mousetrap" ■  new"product/service" ■  internal"innovaHon" What"are"the"risks?" !  building"it"(technology,"complexity)" !  selling"it"(business"model,"distribuHon)" !  geKng"people"to"use"it"(users,"customers)" Create"a"test/hack!" !  focus"on"high"impact"risks"first/only" !  create"1"or"more"tests" !  run"the"test" !  collect"data" !  go"back"to"step"3" Finish" I"have"a"sustainable…" !  business,"or" !  new"product/service,"or" !  process"improvement" The Process
  • 16. Examples of Key Assumptions 16 produced by Startups Enterprise ‣ People will want it ‣ We can build it ‣ It’s sustainable ‣ Our customers will buy it ‣ It wont kill our brand ‣ We can adapt
  • 17. 17 produced by Idea Key Assumption/Risk JetBlue Employee Retention Program employee adoption AirBnB trust Uber ??? Netflix Streaming Service ???
  • 18. Tests & Hacks 18 produced by ➡ Restauranteurs will use food-trucks to test concepts ➡ Google conducts over 1,000 live tests on Google.com ➡ Off-brand testing is common in most industries ➡ 404 error pages are not always as a result of an error ➡ Most websites and apps are doing A/B testing, live ➡ Kickstarter is primarily used to validate demand (and not simply for funding) Fast, cheap, creative methods for testing a hypothesis
  • 19. Intuition & Data 19 produced by Intuition: Good Intuition: Bad Data: Good 1. Confirmed intuition 2. Intuition false negative Data: Bad 3. Intuition false positive 4. Confirmed intuition From Quora, Joel Lewenstein
  • 20. Drumbi New Product Hack 20 produced by Key Assumption/Risk Test Companies Want Drumbi for Support Calls Google Form, with 3 questions, sent to a few friends, posted to Hacker News, Facebook, LinkedIn,Twitter We Knew Exactly What To Build Google Form, with 3 questions, sent to a few friends, posted to Hacker News, Facebook, LinkedIn,Twitter We Could Sell It Google Form, with 3 questions, sent to a few friends, posted to Hacker News, Facebook, LinkedIn,Twitter
  • 21. 21 produced by This took 3 minutes to build, and 3 clicks to share with my friends.
  • 22. 22 produced by 56 Responses 23 Leads Clear Product Direction First Integration Partner Cost $0
  • 23. 23 produced by More data, using Google Surveys, to help sell our product.
  • 24. 24 produced by Idea Key Assumption/ Risk Test JetBlue Employee Retention Program employee adoption sign-up email, landing page AirBnB trust Craigslist email hack, paid traffic to sign-up page Uber ??? #### Netflix Streaming Service ??? ####
  • 25. 25 produced by Idea Assumptions/ Risks Key Assumption/ Risk Test “glassware for men” “new angel on home rental industry” changing platform + improving SEO = more online $$$ “white label photo- sharing for professionals”
  • 26. 26 produced by Tool Usage Google Forms survey design and data collection Google Survey, Survey Monkey create, distribute surveys to targets Unbounce, Mixpanel, Qualaroo A/B testing, funnel, conversion Wordpress rapid website building Craigslist/eBay price, demand testing Kickstarter demand and early adopter targeting LinkedIn/Groups/InMail demand testing Hootsuite, Buffer, Bitly demand testing, referral traffic testing 3D Printing prototyping YouTube, Facebook, Twitter Virality, content testing UsabilityHub product usage and experience testing
  • 27. Step 1: identify the risk/assumption 27 produced by Step 2: create a hack/test Step 3: collect data
  • 28. ➡ Get out of the building. ➡ Wrap data around your intuition. ➡ Fail fast. Fail cheap. 28 produced by Pro-Tips
  • 29. produced by THANKYOU!