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From idea to a company_ISU.pptx
- 1. So, you have an idea and want to start a company?
- 2. Lets start with a bad news: Most new ideas fail ... Karina Sotnik
- 3. Some stats… 80-90% new products fail in the market [1] 4/5 startups lose funder’s money [2] 90% mobile apps don’t produce money 78% project disappear within 4 years 16% to 50% strategic projects are abandoned [3] 47% companies estimates 50% of projects fail [3] 3 Karina Sotnik
- 4. Why it is still a great idea to start a company? • It’s a great equalizer: young and inexperienced or old and experienced may have the same chance at success • Being poor and unknown doesn’t help you in large corporations, but it is actually a great asset for the startup • Recession and down economic times are actually great times to start a business • But you shouldn’t start a company just for the sake of starting a company. There are easier and faster way to get rich… Karina Sotnik
- 7. Five ingredients for successful startup • Original Idea (problem) • Timing • Solid Team • Viable Business model • Funding Karina Sotnik
- 8. The Law of Falure and the success equation Most new ideas fail even if confidently executed! Right A x right B x right C x right D = success Where A, B, C, D – key success factors (right team, good marketing, competent operations, etc.) Right A x right B x wrong C x right D = failure Karina Sotnik
- 9. Still want to start a startup? You should only start a startup if you are compelled and passionate about solving a particular problem and you think starting a company is the best way to solve it. FALL IN LOVE WITH THE PROBLEM, NOT THE IDEA! Ptss, this is the most important slide in an entire presentation!!! Karina Sotnik
- 10. Idea. Make sure you are solving the right problem You don’t invent products, you solve problems Karina Sotnik
- 13. Karina Sotnik
- 14. Timing “The best way to assess timing is to really look at whether customers are ready for what you have to offer them” Karina Sotnik
- 15. Validating your idea Karina Sotnik
- 16. Building a team 2-3 co-founders is usually ideal Look for complimentary skills and required traits: Integrity (keeps the word, does things on time) entrepreneurship (flexible, agile, risk-taking) - Karina Sotnik
- 17. Karina Sotnik
- 18. Getting funded Karina Sotnik 1. The elevator pitch • Short, Simple, Memorable: - What, How, Why? • 3 key words or phrases: - Mint.com is a free, easy way to manage your money online • No expert jargon… just KISS (keep it simple) • And remember to have fun!
- 19. Getting funded 2. First Pitch Deck Pitch Deck by Guy Kawasaki Karina Sotnik
- 20. Getting funded Karina Sotnik 3. Executive Summary •Your value proposition •A description of your product or service •An explanation of your customer base and relevant market factors •Your business model and future plans •Financial projections •Your funding request •Any other special or impressive information about your company and its founders
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- 28. Expanding to other markets Karina Sotnik
- 29. Define the problem Don’t try to fit your solution into different problems, always start with the problem and a pain point you are solving, and the right solution will fit. Who is your customer? Whose pain are you solving? Your user may not be your customer. Karina Sotnik
- 30. Karina Sotnik
Editor's Notes
- Loi de l’échec : 80-90% de nouveaux produits échouent. Chiffres constant, personne n’y échappe. Webvan : distributeur de produits frais, commandés par internet. 1999 – 2001. Webvan was an online "credit and delivery“ grocery business that went bankrupt in 2001. It was headquartered in Foster City, California, USA, in Silicon Valley. It delivered products to customers' homes within a 30-minute window of their choosing. At its peak, it offered service in ten US markets: San Francisco Bay Area, Dallas, San Diego, Los Angeles, Chicago, Seattle, Portland, Atlanta, Sacramento, and Orange County. The company had hoped to expand to 26 cities. Webvan was founded in the heyday of the dot-com bubble in the late 1990s by Louis Borders, who also co-founded the Borders bookstorein 1971. Webvan's original investors included Benchmark Capital, Sequoia Capital, Softbank Capital, Goldman Sachs, and Yahoo!, who encouraged it to rapidly build its own infrastructure (the first-mover advantage strategy popularized by Amazon.com) to deliver groceries in a number of cities.[2] Some journalists and analysts[who?] blamed this serious error of judgment on the fact that none of Webvan's senior executives (or major investors) had any management experience in the supermarket industry, including its CEO George Shaheen who had resigned as head of Andersen Consulting (now Accenture), a management consulting firm, to join the venture. In June 2008, CNET named Webvan the largest dot-com flop in history, placing it above Pets.com and eight other sites on its list.[1] It is now owned and operated byAmazon.com. Amazon fresh AmazonFresh initially offered home grocery delivery to residents of the Seattle suburb of Mercer Island in an invitation-only beta test in August 2007. It has since expanded to a number of Seattle-area ZIP codes, including the suburbs of Kirkland and Bellevue. On June 10, 2013, AmazonFresh expanded to portions of the Los Angeles area, offering "free same-day and early morning delivery on orders over $35." The service became available in San Francisco on December 12, 2013.