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Commercializing Your Idea Getting Heard & Funded

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Presentation for workshop at Culture of Innovation Collaborative.

Presentation for workshop at Culture of Innovation Collaborative.

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  • 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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