Learnings from
startup best
practices
Antti Kosunen
Nestholma Accelerator
Butterfly Ventures
antti@butterfly.vc
An#  Kosunen  –  Co-­‐Founder,  Investor
•  Butterfly Ventures
•  Nesthoma Accelerator
•  Several succesful exits, 2 IPOs,...
How do you build great
products in startups?
Screw it,
just do it
- Richard
Branson
Half of what separates
the successful
entrepreneurs from the
non-successful ones is
pure perseverance.
- Steve Jobs, Co-fo...
That’s all
you need.
Right? Well…

	
  
Fact is that
most startups fail.
What can we
learn from them?
DON’T SCALE TOO EARLY
Don’t focus on Scalability
Don’t add too many Features
Validate… Validate… Validate
 
Startup	
  genome	
  infographic	
  
What are some of the
best practices for
startups?
You need a
great idea,
but…
Most people think it’s
all about the idea.
It’s not. EVERYONE
has ideas. The hard
part is to execute on
the idea.
- Mark C...
An idea
can be done in
million+ ways
There were tens of social media
network services before Facebook
Trust your
instincts or
ask advice
from an
expert?
What about
asking customers?
If I had asked people
what they wanted,
they would have said
faster horses.
-Henry Ford
Want
Faster horses

Problem
Traveling takes too long

Need
Better and faster transportation

Solution
Mass-produced car
Make sure
you really understand
what is the problem
that is worth solving
Ie. customers think that it’s worth their time a...
1
Validate
your understanding
of the problem
2
Validate
your solution
to the problem
3
Validate the
value and scalability
of your solution
Validate

1

2

your understanding your solution to
of the problem
the problem

3
the value and
scalability of your
soluti...
IDEAS

And this is
how you do it

BUILD

LEARN
Repeat as
many times
as needed

Lean Startup
Build-Measure-Learn -loop

COD...
There’s no need to
be
feature complete
If you are not
embarrassed by the
first version of your
product, you’ve
launched too late.
- Reid Hoffman, LinkedIn
founde...
Minimum
Viable Product
Maximum amount of

validated learning
about customers
with the least effort
Video showing what
the user experience
will be

Simple WordPress
blog with daily deals
and minimal backend
running on a Ma...
The Pivot:
Sometimes
it’s good to
change direction
The pivot.
It used to be
called
‘the fuck-up.’
-  Marc Andreessen,
Netscape Founder, VC
Some of the
fuck ups:
Are you making a
difference?
“How disappointed would you
be if you could no longer use
our product?“

“Very Disappointed”
needs to be more than

Source...
“How likely are you to
recommend us to your friends?"

Net
Promoter
Score
(-100 to +100)

Source:
Mariya Yao, Xanadu Mobil...
Are you?
There are good
tools to help you
along the way
Here’s what
your notes
should say
NISP
Materials for presentations
Learnings from great statups Antti Kosunen
Learnings from great statups Antti Kosunen
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Learnings from great statups Antti Kosunen

  1. 1. Learnings from startup best practices Antti Kosunen Nestholma Accelerator Butterfly Ventures antti@butterfly.vc
  2. 2. An#  Kosunen  –  Co-­‐Founder,  Investor •  Butterfly Ventures •  Nesthoma Accelerator •  Several succesful exits, 2 IPOs, raised +€100m, Invested in +30 companies, managed 18 patent litigations •  2-years in the US, 2-years in Asia
  3. 3. How do you build great products in startups?
  4. 4. Screw it, just do it - Richard Branson
  5. 5. Half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. - Steve Jobs, Co-founder, Apple
  6. 6. That’s all you need. Right? Well…  
  7. 7. Fact is that most startups fail. What can we learn from them?
  8. 8. DON’T SCALE TOO EARLY Don’t focus on Scalability Don’t add too many Features Validate… Validate… Validate
  9. 9.   Startup  genome  infographic  
  10. 10. What are some of the best practices for startups?
  11. 11. You need a great idea, but…
  12. 12. Most people think it’s all about the idea. It’s not. EVERYONE has ideas. The hard part is to execute on the idea. - Mark Cuban, serial entrepreneur
  13. 13. An idea can be done in million+ ways There were tens of social media network services before Facebook
  14. 14. Trust your instincts or ask advice from an expert?
  15. 15. What about asking customers?
  16. 16. If I had asked people what they wanted, they would have said faster horses. -Henry Ford
  17. 17. Want Faster horses Problem Traveling takes too long Need Better and faster transportation Solution Mass-produced car
  18. 18. Make sure you really understand what is the problem that is worth solving Ie. customers think that it’s worth their time and/or money
  19. 19. 1 Validate your understanding of the problem
  20. 20. 2 Validate your solution to the problem
  21. 21. 3 Validate the value and scalability of your solution
  22. 22. Validate 1 2 your understanding your solution to of the problem the problem 3 the value and scalability of your solution
  23. 23. IDEAS And this is how you do it BUILD LEARN Repeat as many times as needed Lean Startup Build-Measure-Learn -loop CODE DATA MEASURE
  24. 24. There’s no need to be feature complete
  25. 25. If you are not embarrassed by the first version of your product, you’ve launched too late. - Reid Hoffman, LinkedIn founder
  26. 26. Minimum Viable Product Maximum amount of validated learning about customers with the least effort
  27. 27. Video showing what the user experience will be Simple WordPress blog with daily deals and minimal backend running on a Mac. Hand-collected links to the world wide web Single plane, single route, no routing, but with great service in ly (Well, maybe an MVP on spirit) MVP’s come big and small
  28. 28. The Pivot: Sometimes it’s good to change direction
  29. 29. The pivot. It used to be called ‘the fuck-up.’ -  Marc Andreessen, Netscape Founder, VC
  30. 30. Some of the fuck ups:
  31. 31. Are you making a difference?
  32. 32. “How disappointed would you be if you could no longer use our product?“ “Very Disappointed” needs to be more than Source: Mariya Yao, Xanadu Mobile 40 %
  33. 33. “How likely are you to recommend us to your friends?" Net Promoter Score (-100 to +100) Source: Mariya Yao, Xanadu Mobile +70 +50 Top companies Google, Amazon etc. Successful companies
  34. 34. Are you?
  35. 35. There are good tools to help you along the way
  36. 36. Here’s what your notes should say
  37. 37. NISP Materials for presentations

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