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Echelon 2012 - The Art of Pivoting by Simon Newstead
 

Echelon 2012 - The Art of Pivoting by Simon Newstead

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Simon Newstead, CEO of Frenzoo shares The Art of Pivoting at Echelon 2012 - Asia's leading tech startup event, organized by e27. ...

Simon Newstead, CEO of Frenzoo shares The Art of Pivoting at Echelon 2012 - Asia's leading tech startup event, organized by e27.

Official Coverage: http://e27.sg/2012/06/11/echelon-live-how-a-successful-pivot-scored-a-1-million-user-growth-in-just-2-weeks/

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Echelon 2012 - The Art of Pivoting by Simon Newstead Echelon 2012 - The Art of Pivoting by Simon Newstead Presentation Transcript

  • Art of theStartup Pivot Simon Newstead CEO Frenzoo @simonhk
  • We launched at e27 conference in 2009 “The first 3d virtual world on the web” We were on top of the world!
  • We had a Product. Seed Funding. Press… “Skype Founders invest in Frenzoo”
  • BUT….Only grew to 500,000 usersOrganic growth was slowPaid acquisition expensiveOnly retaining niche usersMainstream users not engaged
  • The Problem – Friends Are Nice Easy to believe your own hype
  • We HAD to pivot…
  • Reached: #1 free RPG on iOS #1 free game on Kindle FireUnder 1 Million users in two years vs 1 Million users in two weeks.
  • Want to pivot? You’re not alone
  • Social network to flash sales giant
  • Hands up if you know this company?
  • Red Octane
  • Pressing factors for changeUsers not excited?Steep retention drop off?Mismatch of CPA vs LTVMarket too small?Running out of runway…
  • 5 tips for your successful pivot
  • Tip 1 – Increase your runway(survive!)
  • Tip 2 – Learn from your mistakes Area Before After UX ✖ ✔ Tech ✔ ✔ Market need ✖ ✔ Distribution ✖ ✔ Team ✔ ✔ Unique product ✖ ✔
  • Tip 3 – Leverage what you did right Nowbox.com Delight.io Video player Video capture SDK tool
  • Tip 4 – Rebrand
  • Tip 4 – Rebrand
  • Tip 5 – Don’t look back
  • Thanks! Questions? simon@frenzoo.com @simonhk IteratingFun.com