Jan Kennedy

Director: Founder Institute

2014
http://fi.co

|

@founding
Globalizing
Silicon
Valley
A peek at Founder Institute…

http://fi.co

|

@founding
The Vision

To help launch
meaningful and enduring
technology companies
The Mission

Launch 1,000
companies per year…
Across 100 cities
An idea-stage
incubator that
helps
entrepreneurs
create meaningful
and enduring
technology
companies.
As featured in

Grea...
IDEA
4 months

VIABLE BUSINESS
42% Funded
90% Success Rate
SO YOU HAVE AN
IDEA
now what?
http://fi.co

|

@founding
0. LOOK IN THE
MIRROR

http://fi.co

|

@founding
Do you have
Entrepreneurial
DNA?
“Ideas are worthless if you can’t
execute”
Gifted to do the same?
Job Interview: Guard Dog
GOOD TRAITS
1. High Fluid Intelligence (not IQ –
recognise patterns & adapt)
2. High Openness (curiosity to challenge
norm...
BAD TRAITS
1. Predatory Aggressiveness
2. Excuse Making
3. Deceit
4. Emotional Instability
5. Narcissism (vanity)
1. IDEATE

Goal: Develop a set of strong ideas

http://fi.co

|

@founding
The Typical Process…
1. You see a great opportunity
2. You tell your mum & she tells you it’s
fantastic
3. You build the s...
99.9% of ideas are bad!
2. CUSTOMER
VALIDATION
Goal: Test your ideas with Research

http://fi.co

|

@founding
Who is
(going to be)
drinking your
wine?
Problem – Solution Fit
1. Oil is Bad
1. Electric Scooter

2. No Vespa
friends Educate
3. Not Sure

2. Trial Vespa
3. Rent ...
Interview & Observe Extreme
Users

Insights to
test…
Get Testing

Early Experiments
- Exploration (interview, observation, survey)
- Pitch (currency / real proof)

Later Exper...
3. REVENUE
MODELS
Goal: chose an idea on financial merit

http://fi.co

|

@founding
Compare Revenue:
Streams
Barriers
Time
Steps
Drivers
Model
Know your Ideal Customer
for each Revenue Stream
Persona
Demographic
Preferences
Does it match your Value
Proposition?
Looks like you are…

Solving a real Problem
+ For real paying Customers
+ With a Viable Solution
= GOOD CHANCE OF MAKING
M...
Chose 1 idea and move past GO…
5. NAMING &
POSITIONING

http://fi.co

|

@founding
6. LEGAL

http://fi.co

|

@founding
7. ADVISORS &
TEAM

http://fi.co

|

@founding
Recruit Advisors
Prep Team Roles to help
launch
Start Recruitment
Cash Vs Equity Compensation
Complete Alignment

Joe Abra...
8. Product
Development

http://fi.co

|

@founding
Identify Assumptions to test
with an MVP:
Later Experiments
- Concierge Service (manual execution)
- Prototype (minimal vi...
Be current on competitor
offerings
Start Wireframing & Paper
Prototyping to get fast
feedback (Rapid
Experimentation)
Product Roadmap
Product Specification
What
Development Plan
How

When
9. Sales Traction

http://fi.co

|

@founding
Launch
High Price
Get Referrals
Close first deal
Analyse conversion funnel
Refine & Sell More
10. Branding +
Marketing
GOAL: Establish Market Credibility

http://fi.co

|

@founding
11. Fundraising

Goal: Seed Capital / Loan

http://fi.co

|

@founding
My company, (company name)
is developing (a defined offering)
to help (a target audience)
(solve a problem)
(with secret s...
Investor Pitch Deck
Company Overview
What is the Problem & Opportunity?
Size?
Solution
How to deliver the solution
Benefit...
If all else fails…
QUESTIONS?
Idea to Viable Business

Jan.kennedy@founderinstitute.com
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
Jan kennedy - I have an idea - what now? @WBIS2014
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Jan kennedy - I have an idea - what now? @WBIS2014

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Jan Kennedy, director of the Munich chapter of the Founder institute lead us through the choices and decisions that a would-be entrepreneur faces after having that idea.

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  • Opportunity is based on passion…
  • Until you start testing them out and learning how to eveolve then.
  • After the fact you sold your wine, you know who drinks it.
  • The more you know about the customer the easier you can piece your business model together.
  • The more you know about the customer the easier you can piece your business model together.
  • The more you know about the customer the easier you can piece your business model together.
  • Jan kennedy - I have an idea - what now? @WBIS2014

    1. 1. Jan Kennedy Director: Founder Institute 2014 http://fi.co | @founding
    2. 2. Globalizing Silicon Valley A peek at Founder Institute… http://fi.co | @founding
    3. 3. The Vision To help launch meaningful and enduring technology companies
    4. 4. The Mission Launch 1,000 companies per year… Across 100 cities
    5. 5. An idea-stage incubator that helps entrepreneurs create meaningful and enduring technology companies. As featured in Great People Expert Training Aligned Incentives
    6. 6. IDEA 4 months VIABLE BUSINESS
    7. 7. 42% Funded 90% Success Rate
    8. 8. SO YOU HAVE AN IDEA now what? http://fi.co | @founding
    9. 9. 0. LOOK IN THE MIRROR http://fi.co | @founding
    10. 10. Do you have Entrepreneurial DNA? “Ideas are worthless if you can’t execute”
    11. 11. Gifted to do the same?
    12. 12. Job Interview: Guard Dog
    13. 13. GOOD TRAITS 1. High Fluid Intelligence (not IQ – recognise patterns & adapt) 2. High Openness (curiosity to challenge norms) 3. Moderate Agreeableness (flexibility) 4. Experience (increases until 40)
    14. 14. BAD TRAITS 1. Predatory Aggressiveness 2. Excuse Making 3. Deceit 4. Emotional Instability 5. Narcissism (vanity)
    15. 15. 1. IDEATE Goal: Develop a set of strong ideas http://fi.co | @founding
    16. 16. The Typical Process… 1. You see a great opportunity 2. You tell your mum & she tells you it’s fantastic 3. You build the solution You lose all your money!
    17. 17. 99.9% of ideas are bad!
    18. 18. 2. CUSTOMER VALIDATION Goal: Test your ideas with Research http://fi.co | @founding
    19. 19. Who is (going to be) drinking your wine?
    20. 20. Problem – Solution Fit 1. Oil is Bad 1. Electric Scooter 2. No Vespa friends Educate 3. Not Sure 2. Trial Vespa 3. Rent then Buy 1. Vespa Buyer 2. Difficult Commute 2. Difficult Commute „skinny tie“ „tried my firends Vespa“ „not sure if I‘m a scooter person“
    21. 21. Interview & Observe Extreme Users Insights to test…
    22. 22. Get Testing Early Experiments - Exploration (interview, observation, survey) - Pitch (currency / real proof) Later Experiments - Concierge Service (manual execution) - Prototype (minimal viable product)
    23. 23. 3. REVENUE MODELS Goal: chose an idea on financial merit http://fi.co | @founding
    24. 24. Compare Revenue: Streams Barriers Time Steps Drivers Model
    25. 25. Know your Ideal Customer for each Revenue Stream Persona Demographic Preferences Does it match your Value Proposition?
    26. 26. Looks like you are… Solving a real Problem + For real paying Customers + With a Viable Solution = GOOD CHANCE OF MAKING MONEY
    27. 27. Chose 1 idea and move past GO…
    28. 28. 5. NAMING & POSITIONING http://fi.co | @founding
    29. 29. 6. LEGAL http://fi.co | @founding
    30. 30. 7. ADVISORS & TEAM http://fi.co | @founding
    31. 31. Recruit Advisors Prep Team Roles to help launch Start Recruitment Cash Vs Equity Compensation Complete Alignment Joe Abraham
    32. 32. 8. Product Development http://fi.co | @founding
    33. 33. Identify Assumptions to test with an MVP: Later Experiments - Concierge Service (manual execution) - Prototype (minimal viable product) Consider Kickstarter Test for physical products
    34. 34. Be current on competitor offerings Start Wireframing & Paper Prototyping to get fast feedback (Rapid Experimentation)
    35. 35. Product Roadmap Product Specification What Development Plan How When
    36. 36. 9. Sales Traction http://fi.co | @founding
    37. 37. Launch High Price Get Referrals Close first deal Analyse conversion funnel Refine & Sell More
    38. 38. 10. Branding + Marketing GOAL: Establish Market Credibility http://fi.co | @founding
    39. 39. 11. Fundraising Goal: Seed Capital / Loan http://fi.co | @founding
    40. 40. My company, (company name) is developing (a defined offering) to help (a target audience) (solve a problem) (with secret sauce) ,
    41. 41. Investor Pitch Deck Company Overview What is the Problem & Opportunity? Size? Solution How to deliver the solution Benefits / Value of solution Secret Sauce Competitive Advantage Competitor Matrix Business Model Financial Projections Financial Requirements / Milestone Summary 42% Funded 90% Success Rate
    42. 42. If all else fails…
    43. 43. QUESTIONS? Idea to Viable Business Jan.kennedy@founderinstitute.com

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