Commercializing Your Idea Getting Heard & Funded

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Commercializing Your Idea Getting Heard & Funded

  1. Getting Heard + FundedSean Ammirati@SeanAmmiratiPartner, Birchmere VenturesAdjunct Professor, Carnegie Mellon UniversityMay 21, 2013COMMERCIALIZING YOUR IDEA
  2. Most Startups FAILThe Reason
  3. NO ONE WANTSwhat they’ve built.IS BECAUSE...
  4. WHY IS THISIMPORTANT?
  5. Dec 2006Conviction tobuild FeedHubAug 2007Private Beta ofFeedHubLaunch FeedHub@ Demo 2007Sept 200710 MONTHS“STEALTH MODE”
  6. Dec 2006Conviction tobuild FeedHubAug 2007Private Beta ofFeedHubLaunch FeedHub@ Demo 2007Sept 200710 MONTHS“STEALTH MODE”Wasted Time
  7. “Launch early enough to beembarrassed by yourproduct’s first version”~ Reid HoffmanCo-Founder & ChairmanLinkedIn
  8. “I should let you know,were notdone.Its early days and somethings could change to the APIbefore we release it.”~ Timothy JordanGoogle
  9. #ifihadglass
  10. KnownProblemKnownSolutionWaterfallDevelopmentRequirementsDesignImplementationVerificationMaintenance
  11. KnownProblemUnknownSolutionAgileDevelopmentRequirementsDesignImplementationProduct BacklogSprint BacklogReleasedCode
  12. UnknownProblemUnknownSolutionLeanStartupCustomerDiscoveryCustomerValidationProduct BacklogSprint BacklogReleasedCodeCustomerCreationCompanyBuilding
  13. Known SolutionLeanStartupAgileDevelopmentWaterfallDevelopmentKanbanUnknown SolutionKnownProblemUnknownProblem
  14. 1. CustomerDiscoveryA product solves a problem foran identifiable group of users2. CustomerValidationThe market is saleable &large enough that a viablebusiness might be built3. CustomerCreationThe business is scalablethrough a repeatable sales andmarketing roadmap4. CompanyBuildingCompany departmentaland operational processesare created to scaleTHE CUSTOMER DEVELOPMENT MODEL
  15. BUILDMEASURELEARNIDEASCODEDATAMinimallyViableProduct
  16. BUILDMEASURELEARNIDEASCODEDATAMinimallyViableAwesomeProduct
  17. Adapted From : The Entrepreneurs Guide to Customer DevelopmentMAP #1PPC CampaignLanding PageMAP #2Product DrawingsDetailed SpecMAP #3PrototypeFunctional OutputFeatures / Benefitsdescription‘More info’Call to ActionFace-to-facetechnology demoField PilotMarket insightFind early adoptersLocate StrategicpartnersSeed FundingPaid-betacustomersRevenueCustomerValidationCapital InvestmentCustomerInteractionObjectiveMAP #1 > Concept MAP #2 > P-M Eval MAP #3 > P-M FitInvestment $ $$ $$$
  18. ~ $35k~ $100k~ $200kconceptsscalespinout~$100k - $150k target firstinvestment~ $275k average total investmentAll Community Driven Commerce Focused& Shared OverheadSTUDIO SEED+CONCEPTS ~ $1k
  19. “NON-SOFTWARE”EXAMPLEInnovation Happens
  20. GOALS FORINNOVATION HAPPENS
  21. 1. Provide networking events connectingentrepreneurs & large corporations
  22. 2. Encourage entrepreneurs tofocus more on getting customers
  23. 3. Create a culture of“buying local” in Pittsburgh
  24. APPLICATIONEXERCISEWhat is your MAP?• Minimally Awesome Product• Customer Interaction• Objective
  25. COMMUNICATIONIS KEYFOR FUNDING
  26. 200420062010450+
  27. KeyPartnershipsCostStructureRevenueStreamsKeyActivitiesKeyResourcesValuePropositionCustomerRelationshipsChannelsCustomerSegments???????????????????????????VALIDATE HYPOTHESIS ...
  28. KeyPartnershipsNicheContentCostStructureRevenueStreamsKeyActivitiesKeyResourcesValuePropositionCustomerRelationshipsCustomerSegmentsNicheCustomersChannels
  29. KeyPartnershipsCostStructureRevenue FreeStreams PaidKeyActivitiesKeyResourcesValuePropositionBasicUsagePremiumUsageCustomerRelationshipsCustomerSegmentsCasualHighVolumeChannels
  30. THANK YOU@SEANAMMIRATI
  31. PHOTO CREDITSSlide 6: http://www.flickr.com/photos/nasa_goddard/8434074140/Slide 8: http://www.flickr.com/photos/data70/4748860721/Slide10: http://www.flickr.com/photos/joi/1431818434/Slide 30: http://www.flickr.com/photos/yodelanecdotal/3329778720/

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