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Tiit Paananen (UAV Factory) @ TechHub Riga Meetup

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Tiit Paananen (UAV Factory) shared a story on differences of old and new business in TechHub Riga Meetup in January, 2015.

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Tiit Paananen (UAV Factory) @ TechHub Riga Meetup

  1. 1. Tiit Paananen Difference of old and new business
  2. 2. Uus vs vana majandus ESTONIAN CRAFT BEER
  3. 3. ENDURANCE WORLD RECORD HOLDER, 54.5h CONTINUOUS FLIGHT
  4. 4. BREWERY VS STARTUP STARTING HARD LOCAL MARKET EXPENSIVE EQUIPMENT TAX BOARD PAPERWORK HEALTH BOARD PAPERWORK EDUCATION OF EMPLOYEES ERP SYSTEM NEEDED STARTING EASY GLOBAL MARKET LOW INVESTMENTS NO PERMITS NEEDED SELF EDUCATION SOFTWARE FREE OR CHEAP
  5. 5. BREWERY VS STARTUP OPERATING EASY EASY TO SELL COSTS AND REVENUE CLEAR QUALITY UNDER CONTROL LOGISTICS OUTSOURCED YOUR MOM UNDERSTANDS IT OPERATING HARD HARD TO MAKE MONEY DEMAND HARD TO PREDICT HIGH RISK OF ERROR DEPENDENT ON LOGISTICS NOBODY UNDERSTANDS WHAT YOU ARE DOING
  6. 6. BREWERY VS STARTUP PROBLEMS DANGEROUS TO PHYSICAL HEALTH DOES NOT SCALE PRODUCT RESPONSIBILITY CAPITAL INTENCIVE BUT BANKS GIVE LOANS PROBLEMS DANGEROUS TO MENTAL HEALTH SCALES TOO WELL PRODUCT RESPONSIBILITY EASY TO START BUT HARD TO GROW
  7. 7. PRODUCTION PROCESS IDEA MATERIALS PRODUCTION PACKAGING LOGISTICS MARKETING SALES IDEA BLACK MAGIC MARKETING SALES
  8. 8. WHAT HAS CHANGED YESTERDAY CLASSIFICATION PER PRODUCTS PROFITABLE TRANSACTIONS LOOK AT FINANCIAL RESULTS FOCUS ON OWNERS RETURN MARKETING DOES MARKETING FOCUS ON CUSTOMER AQUISITION PROMISE MORE, DO LESS TODAY CLASSFICATION PER CUSTOMER SEGMENTS CUSTOMER LIFETIME VALUE LOOK AT BRAND FUTURE FOCUS ON STAKEHOLDERS EVERYBODY DO MARKETING FOCUS ON CUSTOMER RETENTION PROMISE LESS, DO MORE

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