1. 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…
2. The Four Steps to the Epiphany Steve Blank
3. 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.
4. Just because it makes logical sense doesn’t mean it will work.
5. Product Development DiagramSKETCHY for early stage startups
6. Sales Perspective
7. Marketing PerspectiveExample:
8. Don’t waste your precious youth building something people don’t give a shit about.Example:
9. Where product development isfocused on first customer ship, thecustomer development modelmoves learning about customersand their problems as early in thedevelopment process as possible.
10. 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?
11. Customer Development ModelBETTER YAY!
12. 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.
13. 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.
14. 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.
15. If you know the answersIf you really do know the answersto the customer developmentprocess, it will go quickly andreaffirm your understanding.
16. ConclusionStartups don’t fail becausethey lack a product; they failbecause they lack customersand a proven financialmodel.
18. YC Experience
19. 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.
20. My tips• Never work on more than 1 startup• The Weekend rule• The Friday night rule• Learn to code if you’re non-technical
21. Team Chemistry is HUGE!• Paul Graham stated 25% of companies that go through YC lose a co-founder.
22. Work your ass offConstantly pivot your productAnd don’t get tunnel vision!!!
23. THANK YOU. Questions?@drew_singSing.email@example.comLearning front-end and looking for a mentor!