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

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Transcript

  • 1. Startupsare more likefrogs than fish
  • 2. 2 stages of learning 1. 2. Discovery Validation
  • 3. A man wakes up,turns on the radio,goes upstairs, turnson the light, and killshimself.Why?
  • 4. (picture of wedding ring forcommitment)1. best: take their money2.okay: take their email with permission to contact them Image by wstryder
  • 5. 2 stages of learning 1. 2. Discovery Validation
  • 6. 2 stages of learning “Learn”“Confirm”
  • 7. 2 stages of learning “Ask” “Sell”
  • 8. Do we understandthis industry? Does anybody care at all?
  • 9. Do we Are we understand building thethis industry? right product? Does Will they anybody care at all? pay for it?
  • 10. ❝ Build something people want! Paul Graham ❞ @paulg
  • 11. Anyone will tell you your ideais great if you annoy them forlong enough
  • 12. Dear Mom,Don’t youthink I’mgreat?Love,Your son
  • 13. But, everybody will lie to you (not just mom)
  • 14. The mom testTalk about their life, Future-tensenot your idea opinions are liesAsk about specifics You gain nothingin the past by convincing them
  • 15. ❝ Do think it’s a good idea? ❞ Us
  • 16. ❝ Do think it’s a good idea? ❞ Us
  • 17. ❝ Would you buy a product which solved this problem? ❞ Us
  • 18. ❝ Would you buy a product which solved this problem? ❞ Us
  • 19. ❝ How do you currently deal with this problem? ❞ Us
  • 20. ❝ How do you currently deal with this problem? ❞ Us
  • 21. ❝ Talk me through the last time you had this problem ❞ Us
  • 22. ❝ Talk me through the last time you had this problem ❞ Us
  • 23. ❝ How much would you pay for this? ❞ Us
  • 24. ❝ How much would you pay for this? ❞ Us
  • 25. ❝ How much money does this problem cost you? ❞ Us
  • 26. ❝ How much money does this problem cost you? ❞ Us
  • 27. ❝ Is there a budget for it? ❞ Us
  • 28. ❝ Is there a budget for it? ❞ Us
  • 29. ❝ Who else should I talk to? ❞ Us
  • 30. ❝ Who else should I talk to? ❞ Us
  • 31. Opinions are worthless!
  • 32. 2 stages of learning “Learn”“Confirm”
  • 33. So, we had a meeting!
  • 34. ❝ Sounds great. I love it! ❞ Claudia
  • 35. ❝ Sounds great. I love it! ❞ Claudia
  • 36. ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  • 37. ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  • 38. Compliment+ Stalling tactic ------------------They don’t care:(
  • 39. ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  • 40. ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  • 41. Partialcommitment... ...what needs to happen to get the intro?
  • 42. ❝ I would definitely buy that! ❞ Claudia
  • 43. ❝ I would definitely buy that! ❞ Claudia
  • 44. DANGER!!Good signal, butif you mis-read ityou will loseeverything
  • 45. Meetings succeedwhen they committo the next step
  • 46. Examples ofadvancement> Permission to contact again> Clear next meeting> Introduction to decision-maker> Commitment to run a trial> Pre-purchase
  • 47. Real learning comes Facts Commitment
  • 48. Title Text
  • 49. It helps to pre-plan the big 3questions you need to answer
  • 50. 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?
  • 51. 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?