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Learn & Confirm - Founder-Centric F-Day at UCL SMILE
 

Learn & Confirm - Founder-Centric F-Day at UCL SMILE

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Learn & Confirm - Founder-Centric F-Day at UCL SMILE Learn & Confirm - Founder-Centric F-Day at UCL SMILE Presentation Transcript

  • Startupsare more likefrogs than fish
  • 2 stages of learning 1. 2. Discovery Validation
  • A man wakes up,turns on the radio,goes upstairs, turnson the light, and killshimself.Why?
  • (picture of wedding ring forcommitment)1. best: take their money2.okay: take their email with permission to contact them Image by wstryder
  • 2 stages of learning 1. 2. Discovery Validation
  • 2 stages of learning “Learn”“Confirm”
  • 2 stages of learning “Ask” “Sell”
  • Do we understandthis industry? Does anybody care at all?
  • Do we Are we understand building thethis industry? right product? Does Will they anybody care at all? pay for it?
  • ❝ Build something people want! Paul Graham ❞ @paulg
  • Anyone will tell you your ideais great if you annoy them forlong enough
  • Dear Mom,Don’t youthink I’mgreat?Love,Your son
  • But, everybody will lie to you (not just mom)
  • The mom testTalk about their life, Future-tensenot your idea opinions are liesAsk about specifics You gain nothingin the past by convincing them
  • ❝ Do think it’s a good idea? ❞ Us
  • ❝ Do think it’s a good idea? ❞ Us
  • ❝ Would you buy a product which solved this problem? ❞ Us
  • ❝ Would you buy a product which solved this problem? ❞ Us
  • ❝ How do you currently deal with this problem? ❞ Us
  • ❝ How do you currently deal with this problem? ❞ Us
  • ❝ Talk me through the last time you had this problem ❞ Us
  • ❝ Talk me through the last time you had this problem ❞ Us
  • ❝ How much would you pay for this? ❞ Us
  • ❝ How much would you pay for this? ❞ Us
  • ❝ How much money does this problem cost you? ❞ Us
  • ❝ How much money does this problem cost you? ❞ Us
  • ❝ Is there a budget for it? ❞ Us
  • ❝ Is there a budget for it? ❞ Us
  • ❝ Who else should I talk to? ❞ Us
  • ❝ Who else should I talk to? ❞ Us
  • Opinions are worthless!
  • 2 stages of learning “Learn”“Confirm”
  • So, we had a meeting!
  • ❝ Sounds great. I love it! ❞ Claudia
  • ❝ Sounds great. I love it! ❞ Claudia
  • ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  • ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  • Compliment+ Stalling tactic ------------------They don’t care:(
  • ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  • ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  • Partialcommitment... ...what needs to happen to get the intro?
  • ❝ I would definitely buy that! ❞ Claudia
  • ❝ I would definitely buy that! ❞ Claudia
  • DANGER!!Good signal, butif you mis-read ityou will loseeverything
  • Meetings succeedwhen they committo the next step
  • Examples ofadvancement> Permission to contact again> Clear next meeting> Introduction to decision-maker> Commitment to run a trial> Pre-purchase
  • Real learning comes Facts Commitment
  • Title Text
  • It helps to pre-plan the big 3questions you need to answer
  • My big 3 right now:> Does it do what it says on the tin?> Can we make it usable enough?> Do people really, truly want it?
  • My big 3 right now:> Does it do what it says on the tin?> Can we make it usable enough?> Do people really, truly want it? What are yours? Take 3 minutes to write them down. Are they to learn or confirm?