3. Idea vs. Opportunity
• Total Addressable Market
• Market Size x Value of Product/Service = Opportunity
• Beware the “$1 from Everyone in China Assumption”
• Timing – Product/Service Adoption
• Apple Newton vs. Apple iPad
• BEWARE of the “If you build it, they will come” trap
• Tests
• Get Pitch-ready
• Is the Team Forming?
• Are Advisors Joining?
• Are you Getting (Potential) Investors/Partners/Prospects Excited?
BONUS 3
4. Don’t Lose Sight of Tradition
• Functional Areas of Business
• Marketing
• Sales
• Ecommerce:
Funnel, Platform, Processing, Fulfillment, Service/Support
• Direct Sales Model: Prospecting, Network, Tools, Style
• Channels, Partners, Resellers, JVs, Affiliates
• Development
• Subscribe to the Agile Manifesto
• Architecture/Design, Engineering, Testing
• Improvements, Project Management
• Service
• Never Lose Customers
• Finance 4
• Bring in Accounting Early
5. Marketing
• Phase 1: Research
• Planning & Getting Pitch-Ready
• Focus Groups & Surveys
• Go Old-School, Guerilla Tactics
• Phase 2: Test Marketing/Sales
• Create Value with Contracts, LOI’s, Quotes
• Phase 3: Launch
• Multi-variant Test EVERYTHING
• Rinse & Repeat
• Phase 4: Leveraging Success/Validation
• Develop Content for Validation – Expertise, Testimonials, White
Papers
• Phase 5: Exit
• There’s an Art to Marketing for Exit
BONUS 5
6. It’s ALL About the Team
• Be a Co-Founder, not a Founder
• Collaborate
• Start-up Team Math is Multiples (1+1=3)
• Hire Right
• Your Network – Team, Advisors, Family, Friends
• YOU CAN BUY TIME
• Fire Fast!
BONUS
1.
2. 6
3.
9. Beware of the Sexy Factor
• Investment is Dangerous
• Don’t Celebrate Early, but Definitely Celebrate Often
• Pass Break-Even & Build
• 24 Hours in Vegas, 12 Hours in San Francisco
• 24 Hours in Malibu – On the Beach?
• Spend Money like You’re Homeless
BONUS
9
10. The Plan is ALWAYS Wrong!
• Banks want Business Plans
• Start-up Funding from Banks is Dead
• Pitch Deck is the New Plan
• Forecast your Financials – Constantly
• ….And be Religious about “Planned vs Actual” Analysis
BONUS
10
11. SheerID Verifies
Student Discounts
Coupon Codes
Customer Loyalty Programs
Active-Duty Military
Teacher/Faculty
Government Employees Travel Agencies
Discounts for Corporate Partners
Membership Groups
Discounts for Non-Profits
Military Veterans
Employee Discounts
New Customer Discounts
Small Businesses
11
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