Building Blomming: A startup founder's experience

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A presentation about my personal experience on building my startup from scratch: a mix about passion, perseverance and continuous learning that's still ongoing.

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Building Blomming: A startup founder's experience

  1. 1. A startup founder’s experience Nicola Junior Vitto MUSTer Fior Di Risorse @ H-Farm - Roncade (TV), Italy June 6th, 2014 Monday, June 30, 14
  2. 2. Entrepreneurship Monday, June 30, 14
  3. 3. ...Entrepreneurs recognize they are going to have to follow their own internal compass and embrace the uncertainty as part of the journey. - Steve Blank - more on: http://steveblank.com/2009/06/29/agile-opportunism-entrepreneurial-dna/ Entrepreneurship Monday, June 30, 14
  4. 4. A startup is first of all an experiment, it is a human institution designed to deliver a new product or service under conditions of extreme uncertainty At its heart, a startup is a catalyst that transforms ideas into products. (From Lessons Learned blog by Eric Ries) What’s a startup? Monday, June 30, 14
  5. 5. Lean startup is a rigorous process for iterating from Plan A to a plan that works. (by Ash Maurya) What’s a lean startup? Monday, June 30, 14
  6. 6. Get out of the building Your business assumptions can be wrong Go out and speak with your customers Monday, June 30, 14
  7. 7. The Enemy Entrepreneurship has a single enemy that’s called... Monday, June 30, 14
  8. 8. The Enemy Entrepreneurship has a single enemy that’s called... FEAR Monday, June 30, 14
  9. 9. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  10. 10. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  11. 11. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  12. 12. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Monday, June 30, 14
  13. 13. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Monday, June 30, 14
  14. 14. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Monday, June 30, 14
  15. 15. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder 0 Users ~0 Users Presentations Monday, June 30, 14
  16. 16. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder 0 Users ~0 Users Landing Page + MVP + Cust Dev Presentations Monday, June 30, 14
  17. 17. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Landing Page + MVP + Cust Dev Presentations Monday, June 30, 14
  18. 18. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Your Website Your BlogYour FB PageYour Shop Monday, June 30, 14
  19. 19. E-Commerce Widgets Shop on blomming.com and widgets for Websites, Blogs, Facebook pages Monday, June 30, 14
  20. 20. Merchant Website Monday, June 30, 14
  21. 21. Shop On Merchant Website Monday, June 30, 14
  22. 22. Shop On Merchant FB Page Monday, June 30, 14
  23. 23. Shop On Blomming.com Monday, June 30, 14
  24. 24. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Presentations Landing Page + MVP + Cust Dev Monday, June 30, 14
  25. 25. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Presentations Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  26. 26. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users 3 working full-time + 1 part-time Presentations Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  27. 27. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  28. 28. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Beta Version Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  29. 29. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Social Marketplace Sales driven by Blomming Your Website Your BlogYour FB PageYour Shop Monday, June 30, 14
  30. 30. Sales driven by Blomming Blomming Web Marketplace, Blomming mobile app, Blomming APIs and Social Affiliation Network Monday, June 30, 14
  31. 31. Blomming Marketplace Monday, June 30, 14
  32. 32. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Monday, June 30, 14
  33. 33. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Monday, June 30, 14
  34. 34. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  35. 35. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  36. 36. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Version 1.0 Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  37. 37. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Version 1.0 Just Marketing :) Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  38. 38. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users Many (micro) releases: ~700/year VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  39. 39. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Social Marketplace Mobile App APIs Sales driven by Blomming Sales driven by our Community Your Website Your BlogYour FB PageYour Shop Social Affiliation Monday, June 30, 14
  40. 40. Blomming Mobile App Monday, June 30, 14
  41. 41. Sales driven by our Community Social Affiliation & Social Shopping Monday, June 30, 14
  42. 42. Promoters (bloggers, online publishers, social media lovers) curate collections of products following their taste and interests... Social Affiliation Monday, June 30, 14
  43. 43. ... they share those products / collections with their communities... Social Affiliation Monday, June 30, 14
  44. 44. Blogs Websites Facebook Other ...or create real Shops on their online points of presence... Social Affiliation Monday, June 30, 14
  45. 45. ...and gain a commission in case of a sale Social Affiliation E-Commerce meets Advertising! Monday, June 30, 14
  46. 46. Buy from our unique Sellers and get the cashback on selected items Social Shopping Monday, June 30, 14
  47. 47. First Business Model E-Commerce Widgets (sales driven by merchant) Sales driven by Blomming 4% $14,99/m Merchant chooses the rev. share (min. 5%) Sales driven by Promoters Merchant chooses the rev. share (min. 5%) 50% Promoter / 50% Blomming OR Blomming is FREE up to $240 of sales Monday, June 30, 14
  48. 48. “Cool Vendor in E-Commerce 2012” (Apr 2012) “Innovative Niche E-Commerce Providers to Watch” (Aug12) National Innovation Award 2012 Best E-Tailer - Best Pure Online Player, 2012 Top 10 most promising Italian Start-up (Dec 2013) For a complete review please see http://www.blomming.com/about Many Achievements Monday, June 30, 14
  49. 49. First Business Model E-Commerce Widgets (sales driven by merchant) Sales driven by Blomming 4% $14,99/m Merchant chooses the rev. share (min. 5%) Sales driven by Promoters Merchant chooses the rev. share (min. 5%) 50% Promoter / 50% Blomming OR Blomming is FREE up to $240 of sales Monday, June 30, 14
  50. 50. Lesson Learned Never invent a new Business Model Monday, June 30, 14
  51. 51. Lesson Learned Never invent a new Business Model Your startup is already enough difficult as-is! :-) Monday, June 30, 14
  52. 52. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  53. 53. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  54. 54. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) Many tests of Business Models 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  55. 55. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users ~85k Users Version 1.0 First Business Model Just Marketing :) Many tests of Business Models New Business Model 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  56. 56. Blomming = software tool Sales driven by merchant Blomming = Marketing tool Sales driven by Blomming Subscription Plans with 15 days free trial: Basic: € 19,99/m - € 199,99/y Premium: € 24,99/m - € 249,99/y Every merchant can optionally choose to sell on our Marketing or our Affiliation network setting a revenue share (min. 5%) Started on April, 18th 2014 Current Business Model Monday, June 30, 14
  57. 57. Current Business Model Monday, June 30, 14
  58. 58. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Monday, June 30, 14
  59. 59. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Monday, June 30, 14
  60. 60. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young Monday, June 30, 14
  61. 61. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young @Study: Computer Science Engineering Monday, June 30, 14
  62. 62. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young @Study: Computer Science Engineering Monday, June 30, 14
  63. 63. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering Monday, June 30, 14
  64. 64. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Monday, June 30, 14
  65. 65. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  66. 66. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  67. 67. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  68. 68. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  69. 69. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  70. 70. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  71. 71. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  72. 72. Future Monday, June 30, 14
  73. 73. Future Focus on: Profitability Value = Money Cash (Flow) is king Monday, June 30, 14
  74. 74. www.blomming.com Facebook.com/njvitto Twitter.com/njvitto Linkedin.com/in/nicolajuniorvitto nicola@blomming.com Thanks! Monday, June 30, 14

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