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Startupfest 2012 - The age of entrepreneurial enlightenment

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Today’s early-stage companies are obsessed with data. They rely on analytics to understand every facet of their business, optimizing the way they acquire and engage customers, how they spread the …

Today’s early-stage companies are obsessed with data. They rely on analytics to understand every facet of their business, optimizing the way they acquire and engage customers, how they spread the word, and how they extract revenue. After all, you can’t improve what you can’t measure. But this obsession with data has a cost. What if you’re optimizing the wrong things? What if you’re already better than the rest of the industry in one dimension, but falling behind in another? How would you know? In this session, Bjoern Herrmann shares his research into thousands of startups. Working closely with entrepreneurial visionaries like Steve Blank, Bjoern and his team have collected and analyzed the key performance indicators of a broad range of startups, and codified this data into a system that understands what “normal” looks like.

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  • 1. The Startup Genome &The Entrepreneurial Enlightenment International Startup Festival
  • 2. Explosion of Technology EntrepreneurshipEntrepreneurial Enlightenment
  • 3. Massive Impact on Economy90% Job Growth in the US
  • 4. 90% of Startups failbecause of Self Destruction
  • 5. How can we reducethe failure rate of startups in a scalable way?
  • 6. The Startup Genome• Based on Stanford study 2010• In collaboration with Stanford, Berkley & Oxford• Extracted expert knowledge from thought leaders• Built Predictive Models, Contributory Database & Artificial Intelligence• Published the two reports with 25k downloads adopted by ~100 Universities• Launched StartupCompass.co with 20k+ users
  • 7. What did we learn?
  • 8. Extreme uncertainty is the biggest challenge
  • 9. The Problem: Premature ScalingStartups efficiently execute the unnecessary
  • 10. The Solution: LearningThe faster you learn the more likely you are to succeed
  • 11. How we assess premature scaling Discovery Validation Efficiency Scale Sustain ConservationMarket/Environment Actual StageCustomer Response Customer Interaction Startup/Organism Behavioral Stage CustomerBusiness Behavior Product Team Financials Business Model
  • 12. Example: Color Discovery Validation Efficiency Scale Sustain Conservation Market/Environment Actual Marmer Stage Customer Response Customer Interaction Startup/OrganismBehavioral Marmer Stage Customer Business Behavior Product Team Financials Business Model
  • 13. Result: Revenue
  • 14. Result: User Growth
  • 15. Result: Valuation
  • 16. Result: Funding
  • 17. Summing up• Startups are exposed to extreme uncertainty.• This uncertainty can lead to misallocation of resources, bad decisions and ultimately failure.• To avoid failure the startup has to reduce uncertainty.• Uncertainty can be reduced by listening to your customers.• The Startup Genome Compass helps you to asses your situation, diagnose problems and measure progress.
  • 18. How can you identify premature scaling?
  • 19. Business Model
  • 20. Team
  • 21. Focus
  • 22. Product
  • 23. Valuation
  • 24. Customer Acquisition
  • 25. Questions?• Check out the Startup Genome Compass at startupcompass.co• send us an email at bjoern.herrmann@gmail.com• download the report at blog.startupcompass.co• Follow me at @bjoernlasse