Idea Description 7Idea Description Success Calculator: Inventor (cloud over the head). Many factors represented by circles (founder experience circle, previous startup experience circle, competition circle, funding circle, customer circle, market size, industry circle, board of directors circle, product development experience, advisers circle) go into the SourceIgniter Predictor Engine box, what comes out is a Success Score
Pitches 22Taxicab Pitch“Facebook for teenagers”, “Flicker for Video”Elevator Pitch What do we do? Who are we doing it for? How are we different?“ConferenceByWire is an event streaming solution that brings live and on-demand events directly to the remote viewers over the Internet. Unlike other solutions it does not require significant infrastructure investment”
Pressure Testing 23Have your idea and the pitch pressure tested Do not insist on NDAs. Nobody cares
Differentiation and JUD 27What Investors Are Looking For? JUD – Just Enough Difference Different Enough Not Too DifferentValid Question “Why existing competitors are not focused in ‘this’ area?”Invalid Question “Why wouldn’t existing competitors replicate ‘this’?”
Competitive Strategies 28Prices We are just like that only cheaperDifferentiation We are just like that with following differencesNiche We are just like that only verticalized
Competitive Advantages 29Not Easy to Overcome Original Content Execution Loyal Customer Base Brand AwarenessEasy to Overcome Patents First Mover Obscurity
Co-Founder Selection Criteria (cont.) 34Complementary SkillsetWorked Together BeforeSimilar Work EthicSimilar Commitment LevelSimilar Conflict Resolution StyleCan Disagree and CommitIdeal Number of Co-Founders is 3
Prototype Features 61Features need to prove business hypothesis aka core functionality Usability trumps completeness Speed trumps completenessSome Business models are too complex for an evolutionary prototype. You might have to settle for throw away prototype Too much technical debt to remedy Too expensive to evolve Can’t find needed resources
A particular slide catching your eye?
Clipping is a handy way to collect important slides you want to go back to later.