Simple exercise (together)Define an idea.Find a business model.Create a product.Sell it.IN FIVE MINUTES.Don’t put limits on your imagination.IDEA, BUSINESS MODEL, PRODUCT, SALE.
Let’s do it!0:00 - I need an idea!0:15 - Idea: tests for Cloud expertise.0:30 - Open notebook, start writing.2:30 - Ok, now what? Business model.3:00 - I can charge 1 $ to do the test.3:15 - Ask around if someone wants it.3:45 - Start the test.4:30 - Test completed. Evaluation.5:00 - Great. First paying customer!
FearDid you experience fear?What could you lose?Did fear prevent you from “shipping”?How does fear apply to your existing business?How does fear apply to your new one?
Embarassed“If you’re not embarassedwhen you ship your first versionyou waited too long”Matt Mullenweg,CEO & Founder of Wordpress.com
How to do it for real?What are the steps?From the sparkle of an ideato a successful business.Time to get “serious” about this!Do you feel you have the power now?
Volkswagen “The Force” 2011 commercial - All rights belong to Volkswagen AG
From zeroto startup Twitter: #LeanCloud @simon
1. VisionWhat are you passionate about?What problem do you want to solve?What value will you offer?Try to look at these things with new eyes.Test your vision with friends, or strangers.Listen to their feedback.
Don’t fall in love too muchMost entrepreneurs fall in love with their idea.Love is often blind.Make sure that you love being anentrepreneur, not the idea itself.
2. Market researchAn important component of business strategy.Define your market: need, size, growing?What is your competition?How do you measure it?Social/Opinion research
Market ResearchThis information is provided by Elastic S.r.l. (Rome, Italy) - Creative Commons AT-NC-SA license.
3. How to make moneyDefine your business model:create, deliver, capture value.CapEx vs OpExUseful:Business Model Generation.com
Business Model CanvasThe BMC is a strategic management template fordeveloping new or documenting existingbusiness models.It is a visual chart with elements describing afirms valueproposition, infrastructure, customers, andfinances.
An example8. Key Partners 7. Key Activities 2. Value Propositions 4. Cust. Relationship 1. Cust. Segments Cloud improve Web dev / Customer self-service Cloud Partners cloud mgmt mgmt experts (AWS, etc) reputation Trainers Marketing / find the right companies Community (Codelesson acquiring Cloud co-creation in need of Mgmt RedOddity) customers expert experts 6. Key Resources 3. Channels Web WWW Founders designers Quiz Marketing salespeople creators budget (channels)9. Cost Structure 5. Revenue Stream fixed: site design Certification Cloudpions Cloud var: var: + (sales) listing training IT infra Marketing maintenanc (subscr) (sales) e Business Model Canvas This information is provided by Elastic S.r.l. (Rome, Italy) - Creative Commons AT-NC-SA license.
Minimum Viable ProductThe MVP is:the simplest version of a new product whichallows a team to collect the maximum amountof validated learning about customers with theleast effort.Smoke Test (MVP)Add now, code later (MVP)
Kevin Systrom:"Ive heard that Plan A is never the productentrepreneurs actually end up with.I didnt believe it...In many ways, Burbn was getting a bunch ofpress, but it wasnt taking off the way we thought it would.We found people loved posting pictures, and that photos werethe thing that stuck. Mike, my cofounder, and I sat down andthought about the one thing that made the product unique andinteresting, and photos kept coming up." Zoom-in pivot
6. OutsourcingWhat did I use for the pictures of this preso?(iStockPhoto & license-free)What part of your business should yououtsource?What value are you creating?Who can help you create more value?
7. Partners & EcosystemWhat is a Partner?What is an Ecosystem? (James Moore)Suppliers?Why should they help you?
8. MarketingAdvertisingWord of MouthViral MarketingOnline MarketingSocial Media MarketingMetrics & Measurement
9. SalesWhat do you sell?Who buys?Why?How to measure it?
AnalyticsThis information is provided by Elastic S.r.l. (Rome, Italy) - Creative Commons AT-NC-SA license.
10. Media and PRJournalistsBloggersPR (Public Relations)MediaPress