LeanStartup Challenge Presentation


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7/15/2011 Presentation to Lean Startup Challenge on how to start a web company without coding

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LeanStartup Challenge Presentation

  1. 1. Build & Test YourIdea WithoutProgrammingLean Startup ChallengeJuly 15, 2011Elizabeth Yinco-founder of LaunchBit
  2. 2. Agenda Introduction Interviewing customers Wizard-of-Oz prototypesQ&A
  3. 3. In high school, we decided tobecome internet entrepreneurs
  4. 4. Shiny Orb is a social shopping sitefor wedding apparel
  5. 5. DressMob is a social shoppingsite for all dresses
  6. 6. The first step is to achieveproduct/market fit Maximize  Product/Market Fit Scale Up Profit
  7. 7. Progress happens in parallelTalk with Talk with Talk withcustomers customers customers Collect landing page signups Wizard-of-Oz your prototype
  8. 8. Talk to a range of customers… notyour mom! ?
  9. 9. Post an ad on Craigslist to findlocal people willing to help you http://www.craigslist.org Cindy Alvarezhttp://www.slideshare.net/cindyalvarez/user-testing-tacticshttp://www.surveymonkey.com http://docs.google.com
  10. 10. Start by asking questions to helpyou understand user behavior What are the most frustrating aspects of ABC? May I ask you why ABC is frustrating?What is the process you gothrough today to do ABC? If you had a magic wand to help you with ABC, what would it do? How much would you expect this magic wand to cost?
  11. 11. In subsequent interviews, presentyour solution for feedback So, you said ZYX of ABC wasfrustrating, what if the product Would you use it? looked like this? Do you have any friendsHow much would you expect whom you think could this to cost, if anything? benefit from this? We’d love to learn from your friend, mind making an intro?
  12. 12. Ask about behavior and bring asimple set of “paper” prototypes Image credit: Simon Collison (flickr) Image Credit: Mathieu Brault Do people “get” your idea?
  13. 13. Hanging around coffee shopshelps Pulse refine their new ideas
  14. 14. Collect signups with a simplelanding page
  15. 15. Make sure your messaging isclear and there is a call to action
  16. 16. Your Minimum Viable Productshould have just 1 or 2 functions Image Credit: Hammacher Schlemmer Can you explain your product in 1 sentence?
  17. 17. Aardvark went to see thewonderful Wizard of Oz
  18. 18. Food on the Table started withreal, live “concierge” service
  19. 19. The Wed Connect is our ownexperience at quick idea testing
  20. 20. Online tools made it possible towork behind the curtain Image Credit: Wizard of Oz
  21. 21. Get your first users:5 – 50 customers Image Credit: Wizard of Oz
  22. 22. Find out what your users are doingon your website
  23. 23. There are many affordable tools forquantitative & qualitative analysis
  24. 24. In 5 days, we had numbers toevaluate The Wed Connect Bounce Rates 87% of 68 people 56% of 16 people 21 Signups Quick math:  Charge wedding vendors $2 / lead * 21 leads = $42  Costs: $0.44 * 68 people = $29.92  Potential profit: $0.58 / person
  25. 25. Qualitative feedback taught usabout the customer
  26. 26. We determined the viability of TheWed Connect in just 1 week0 1 2 7 81 day Customer Research 1 day Analysis 1 day Build MVP 5 days Testing and MarketingGreat initial numbers but a frustrating business
  27. 27. LaunchBit Startup Guide helpsnew entrepreneurs launch ideas
  28. 28. Build and test your idea withoutprogramming – Get going! More questions? hello@launchbit.com Blog: blog.launchbit.com @launchbit www.launchbit.com