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Ultra Boostrapping Feb 2010 Ep
 

Ultra Boostrapping Feb 2010 Ep

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Starting a business has never been easier or less expensive. Thanks to dozens of free tools, tricks and techniques smart entrepreneurs are starting businesses, experimenting and iterating without ...

Starting a business has never been easier or less expensive. Thanks to dozens of free tools, tricks and techniques smart entrepreneurs are starting businesses, experimenting and iterating without spending a lot of money - learn how you can do it too. Presented at Brown EP event Palo Alto Feb 25

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  • All Rights Reserved (c) Naeem Zafar BizEducationWorkshops.com & ConcordiaVentures.com
  • All Rights Reserved (c) Naeem Zafar BizEducationWorkshops.com & ConcordiaVentures.com
  • All Rights Reserved (c) Naeem Zafar BizEducationWorkshops.com & ConcordiaVentures.com
  • All Rights Reserved (c) Naeem Zafar BizEducationWorkshops.com & ConcordiaVentures.com
  • All Rights Reserved (c) Naeem Zafar BizEducationWorkshops.com & ConcordiaVentures.com

Ultra Boostrapping Feb 2010 Ep Ultra Boostrapping Feb 2010 Ep Presentation Transcript

  • Ultra-bootstrapping Start Companies for Under $1000 Naeem Zafar Partner, Concordia Ventures University of California Berkeley-Haas All rights reserved © Naeem Zafar Startup Workshop www.NaeemZafar.com
  • Personal Background
    • Faculty at Univ of Calif Berkeley Haas business school
    • Founder Concordia Ventures – advisory to entrepreneurs
    • CEO of three companies (semiconductor & software)
    • Worked in engineering, research, marketing & sales
    • Experience at one large multinational & 6 startups
    • One IPO (Initial Public Offering)
    • Wrote six eBooks on entrepreneurship
    • Raised over $70M in multiple ways (VC, asset sale, debt, angel)
    • Extensive experience in working with people from all cultures
    • Traveled to 73 countries, lived in 3
    • Brown University ‘81, Univ of Minnesota; Gold Medalist Lahore
    • Charter member of TiE Silicon Valley
    • President of OPEN Silicon Valley
    • Advised or mentors over 400 entrepreneurs
    All rights reserved © Naeem Zafar Startup Workshop
  • Global Access: for Free
    • You can find out what customers want in any country or geography
    • Discover what are customers talking about
    • How will they buy it
    • Learn to look like a global company
    Startup Workshop All rights reserved © Naeem Zafar
  • New Rules: New Opportunities
    • Internet has changed everything
    • Platform phenomenon makes is much easier to dive into a startup
      • iPhone
      • Android
      • Facebook
    Startup Workshop All rights reserved © Naeem Zafar
  • New Rules
    • Have idea! {build something that You want to use}
    • Find a customer: Do research to identify what customers to target & why
    • Shape idea by market research (almost free)
    • Develop product (using free tools)
    • Learn competitive landscape
    • Define business model
    • Target customers & sell to them
    • Build community & become a though leader
    Startup Workshop All rights reserved © Naeem Zafar
  • Positioning: How Will You Appear Different to Your Customers Startup Workshop All rights reserved © Naeem Zafar
  • Identify Your Initial Target Market Segment Startup Workshop All rights reserved © Naeem Zafar
  • Business Model To Drive Clarity Your Company Licensing fee User Customer $3 $2 $9 Google Ad
  • How to Do Competitive Analysis
    • Google your own idea– pretend to be a user or a customer of your own product
    • Methodically go through all ads and sponsored links
    • See what your customers are likely to see
    • Make sure that your offering looks better
    Startup Workshop All rights reserved © Naeem Zafar
  • Search As You Are the Customer Startup Workshop All rights reserved © Naeem Zafar
  • Customer Discovery Process
    • You must understand & be clear on who is your customer
      • Age
      • Gender
      • Title
      • Income level
      • Buying habits
      • Decision making process
    • ALL this before you have a product!
    Startup Workshop All rights reserved © Naeem Zafar
  • B2B Research Methods
    • Linked in
    • Twitter
    • Facebook
    • Trade groups & associations
    Startup Workshop All rights reserved © Naeem Zafar
  • Finding People for Market Research
    • Search people that can be useful on social networks
    • Ask them if you can talk to them about a specific topic
    Startup Workshop All rights reserved © Naeem Zafar
  • Linked In Search Startup Workshop All rights reserved © Naeem Zafar
  • Results Startup Workshop All rights reserved © Naeem Zafar
  • Write & Ask Startup Workshop All rights reserved © Naeem Zafar
  • Methods of Market Research Startup Workshop All rights reserved © Naeem Zafar
  • Questions
    • Is there a real unmet need in this area (where your products address the problem)?
    • How does he/she want to see this problem solved?
    • Why have they not solved this until now – what issues are preventing the problem from being solved?
    • If a solution (or a product) existed, what would it look like?
    • Who will use this product (or service) – what are these users looking for? How badly do they want it?
    • What is the buying process (in other words, who needs to approve this purchase)?
    • What are usually the selection criteria?
    • What price point will make this decision a no-brainer? At what price point are we likely to find resistance?
    • What are the reasons somebody would decide not to buy?
    • Why hasn’t the customer bought this solution from someone else until now?
    • Who else may be interested in solving this problem?
    • Who in the organization is the most likely to champion solving this problem – can I get an introduction to them?
    Startup Workshop All rights reserved © Naeem Zafar
  • Doing Online Surveys
    • www.Zoomerang.com
    • www.SurveyMonkey.com
    • www.Limesurvey.com
    Startup Workshop All rights reserved © Naeem Zafar
  • www.Zoomerang.com Startup Workshop All rights reserved © Naeem Zafar
  • www.SurveyMonkey.com Startup Workshop All rights reserved © Naeem Zafar
  • Market Surveys Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Creative Short Questions Startup Workshop All rights reserved © Naeem Zafar
  • Survey Results Startup Workshop All rights reserved © Naeem Zafar
  • Google Adwords Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Analytics Startup Workshop All rights reserved © Naeem Zafar
  • Public Data
    • http://www.google.com/Top/Business/Associations/By_Industry/
    Startup Workshop All rights reserved © Naeem Zafar
  • Free Data Startup Workshop All rights reserved © Naeem Zafar
  • Free Data on Public Companies Startup Workshop All rights reserved © Naeem Zafar
  • Free Data
    • www.census.gov
    Startup Workshop All rights reserved © Naeem Zafar
  • Product Development
    • Find people on craigslist & linked in
    • www.Elance.com
    • www.odesk.com
    • Use free tools (Rails, Drupal, MySQL…)
    • Host for under $10 a month, free unlimited bandwidth ( www.Bluehost.com , www.1and1.com
    • Put everything in the cloud! www.lunarpages.com
    Startup Workshop All rights reserved © Naeem Zafar
  • Selling Product
    • Don’t wait to perfect the product
    • Find customers & let them tell you how they want to see it improved
    • Go after these early customers:
      • Devotees
      • Early adopters
      • People with their hair on fire!
    • Go after a smaller target & give them all the love you got! -- then expand later
    Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Sell & Market
    • Become a voice on the internet – blog, tweet, be a thought leader
    • Follow people on the web, create a following
    • Post in discussion groups – be a thought leader
    • Google adwords to drive traffic to landing pages
    • Sell on Amazon or eBay or Yahoo stores
    Startup Workshop All rights reserved © Naeem Zafar
  • Target Market 5/15/2009 all rights reserved Concordia Ventures LLC
    • Identify your target market
    • Find a sliver who needs you more!
  • Twitter Startup Workshop All rights reserved © Naeem Zafar
  • Twitter to find customers Startup Workshop All rights reserved © Naeem Zafar
  • Other Are Doing Twitter Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • www.DavidMeermanScott.com Startup Workshop All rights reserved © Naeem Zafar
  • Free eBooks on Marketing & Bizz Creation Startup Workshop All rights reserved © Naeem Zafar
  • YouTube is Not Just for Entertainment Startup Workshop All rights reserved © Naeem Zafar
  • Learn About Affiliate Marketing
    • Sell products you don’t make
    • Let others sell your products
    • Make money both ways
    Startup Workshop All rights reserved © Naeem Zafar
  • Learn About Affiliate Marketing Startup Workshop All rights reserved © Naeem Zafar
  • Bonus Tools
    • Set up a US legal entity – online
    • Use productivity tools for free
    Startup Workshop All rights reserved © Naeem Zafar
  • What Kind of Company
    • www.LegalZoom.com
    • www.nolopress.com
    • Options:
      • Sole proprietorship (not a company)
      • Partnerships (general and limited)
      • S-Corp (Inc.)
      • C-Corp (Inc.)
      • Limited Liability Company (LLC)
    Startup Workshop September, 2008 All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • www.ooVoo.com Startup Workshop All rights reserved © Naeem Zafar
  • Startup Workshop All rights reserved © Naeem Zafar
  • Cost of New Rules Startup Workshop All rights reserved © Naeem Zafar $0 $0 $5 $0
  • Cost of New Rules Startup Workshop All rights reserved © Naeem Zafar $100 $50 $100 $100 Tools for prod Dev Launch product in Cloud! Market & sales Ship & test & fix (agile) PHP, Ruby, MySQL, Drupal PHP, Ruby-on-rails, MySQL, Drupal, blue host Niche Thyself Blue host, click-to chat Lime Survey, Google Adwords, Twitter, Facebook Figure out who is buying, focus on that niche – be unique, deliver value
  • Summary there has never been easier to start companies anywhere in the world Do it Now! [email_address] Get a copy of my eBook free at www.Startup-Advisor.com All rights reserved © Naeem Zafar Startup Workshop