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Startup advice: From Silicon Valley to Sydney
 

Startup advice: From Silicon Valley to Sydney

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Drew Sing talks about his experiences with startups in the US and Australia.

Drew Sing talks about his experiences with startups in the US and Australia.

Presented for a Incubate summer workshop 2013.

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  • Webvan 1999– Got hundreds of millions

Startup advice: From Silicon Valley to Sydney Startup advice: From Silicon Valley to Sydney Presentation Transcript

  • Hi, my name is Drew SingI’ll be chatting about:My ExperienceProduct FitCustomer DiscoverySilicon Valley Interrupt me whenever! Don’t let this be another death by pp presentation…
  • The Four Steps to the Epiphany Steve Blank
  • Wise words from Steve BlankThe greatest cause of failure—in startups is notin the development of a new product but in thedevelopment of customers and markets.1 out of 10 startups succeed, so play the gamehard and smart.
  • Just because it makes logical sense doesn’t mean it will work.
  • Product Development DiagramSKETCHY for early stage startups
  • Sales Perspective
  • Marketing PerspectiveExample:
  • Don’t waste your precious youth building something people don’t give a shit about.Example:
  • Where product development isfocused on first customer ship, thecustomer development modelmoves learning about customersand their problems as early in thedevelopment process as possible.
  • Who are you selling to and whyDo not skip Customer Discovery – often thefatal error.Does the problem you’re solving make yourproduct a must have?
  • Customer Development ModelBETTER YAY!
  • It’s natural to go backwards. It’s a valuable part oflearning and discovery.Keep cycling until you achieve “escape velocity” –where you generate enough success to carry you outinto customer creation.
  • Speed at which a company moves through CustomerDevelopment depends on market type.Startup in an existing market should be able toaccomplish customer validation sooner.Company creating a new market has an open-ended setof questions that may take a year or even longer.
  • Important: It is the founders thatthen define the first product. Thejob of customer development is tosee where there are customers anda market for that vision.
  • If you know the answersIf you really do know the answersto the customer developmentprocess, it will go quickly andreaffirm your understanding.
  • ConclusionStartups don’t fail becausethey lack a product; they failbecause they lack customersand a proven financialmodel.
  • BREAK?
  • YC Experience
  • You can do everything they do in Silicon Valley here in Sydney.• As long as you have a startup support group and driven community.• Surround yourself with smart and experienced people.
  • My tips• Never work on more than 1 startup• The Weekend rule• The Friday night rule• Learn to code if you’re non-technical
  • Team Chemistry is HUGE!• Paul Graham stated 25% of companies that go through YC lose a co-founder.
  • Work your ass offConstantly pivot your productAnd don’t get tunnel vision!!!
  • THANK YOU. Questions?@drew_singSing.drew@gmail.comLearning front-end and looking for a mentor!