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A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
A New Entrepreneurship - A Backwards Approach
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A New Entrepreneurship - A Backwards Approach

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Presentation given by Eric & Ashley Jennings of Loopshot, for the 2010 Nevada Interactive Media Summit.

Presentation given by Eric & Ashley Jennings of Loopshot, for the 2010 Nevada Interactive Media Summit.

Published in: Business, Education
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  • - Raised $393M in two years (Emphasized execution over discovery) - Built several distribution centers, complete with custom-developed warehouse robots - Developed custom software to manage customer ordering and delivery processes - Launched in June 1999, filed for IPO 60 days later. End of 2000, -600M, 6 mos later bankrupt.
  • - Started in November 2006, scratched a personal itch - Heard that others might be interested in this. Decided to build a commercial version - Over years, redesigned site once, added too little number of features that solved painpoints, spent more than we care to share on adwords. - Now retrofitting into a customer-driven development. Survey.io, GetSatisfaction, etc.
  • - Started as etsy shop selling custom-made jewelry - Discovered quite by accident that supplies for jewelry are in higher demand than jewelry itself. (Etsy’s market was saturated with jewelry shops) - Decided instead to sell the findings for jewelry. Sales skyrocketed - Began investing in purchases of jewelry metal at wholesale quantity. Continued growth. Now full-time business--costs low, customer feedback loop is tight and helps guide continued product growth.
  • - Began from day one as a customer-driven development model. Solved a major pain point for many people, without being too broad. No boiling the ocean here. - Chose smart mentors in early stages, by applying to YCombinator. - Extremely simple interface. It just works. Has become a must-have for anybody sharing files online. Has received $7.2M in funding, funded by Sequoia Capital and Accel Partners, and has millions of users and growing rapidly.
  • Transcript

    • 1. Toward a New Entrepreneurship
      • A Backwards Approach
    • 2.  
    • 3. Hello!
      • Eric Jennings - Techno
      • Ashley Jennings - Marketeer
    • 4. Let’s Try It Out
    • 5. The worst thing about my bank is ____________ . (Hold that thought for a moment)
    • 6. First, Brand!
    • 7. First, Brand!
    • 8. First, Brand! 2.0
    • 9. Next, Product!
    • 10. Next, Product!
    • 11. Next, Product!
    • 12. Next, Product!
    • 13. Next, Product! and frappe!
    • 14. Now, Market!
    • 15. Now, Market!
    • 16. Now, Market!
    • 17. Now, Market!
    • 18. Now, Market!
    • 19. First Year Sales
    • 20. First Year Sales
    • 21. First Year Sales
    • 22. What Went Wrong?
    • 23. What Went Wrong? Stop doing, start listening
    • 24. The Backwards Approach - Step 1 Customer Discovery
    • 25. The Backwards Approach - Step 2 Minimum Viable Product (MVP)
    • 26. The Backwards Approach - Step 3 Product/Market Fit (40% Fit)
    • 27. Check Your Progress
      • if (P/M Fit >= 40%) {
        • Company::rampUp();
        • Employees::hire();
        • Marketing::purchase();
        • startAtStep1Again();
        • } else {
        • }
    • 28. From EPICFAIL to Grandmaster
    • 29. From EPICFAIL to Grandmaster
    • 30. From EPICFAIL to Grandmaster
    • 31. From EPICFAIL to Grandmaster
    • 32. From EPICFAIL to Grandmaster
    • 33. To Recap
    • 34. To Recap
      • First, discover customer pain points
    • 35. To Recap
      • First, discover customer pain points
      • Next, build Minimum Viable Product
    • 36. To Recap
      • First, discover customer pain points
      • Next, build Minimum Viable Product
      • Then measure product/market fit
    • 37. To Recap
      • First, discover customer pain points
      • Next, build Minimum Viable Product
      • Then measure product/market fit
      • Have at least 40%? If not, repeat
    • 38. To Recap
      • First, discover customer pain points
      • Next, build Minimum Viable Product
      • Then measure product/market fit
      • Have at least 40%? If not, repeat
      • Under 40% after several iterations? Fail fast. Try another idea.
    • 39. Tools of the CDD Trade
      • Survey.io
      • GetSatisfaction
      • MailChimp
      • Google Analytics with conversion funneling and ROI goals
    • 40. Thank you! Questions? Questions? Questions?

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