Learning from startup best practices


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Presentation by Topi Jarvinen to startups at Nestholma Accelerator's Pitch Day in November 2013

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Learning from startup best practices

  1. 1. Learning from startup best practices Topi Järvinen Nestholma Startup Accelerator
  2. 2. How do you build great products in startups? Topi Järvinen (@topij)
  3. 3. Screw it, just do it - Richard Branson Topi Järvinen (@topij)
  4. 4. Half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance. -Steve Jobs, Co-founder, Apple Topi Järvinen (@topij)
  5. 5. That’s all you need. Right? Well… Topi Järvinen (@topij)
  6. 6. Fact is that most startups fail. What can we learn from them? Topi Järvinen (@topij)
  7. 7. reason for startup failure is premature scaling Startups do too much before they know what they should do Based on data analyzed on 3.200 companies by StartupCompass Topi Järvinen (@topij)
  8. 8. What are some of the best practices for startups? Topi Järvinen (@topij)
  9. 9. Trust your instincts or ask advice from an expert But predicting is hard… Topi Järvinen (@topij)
  10. 10. People who predicted either extremely good or extremely bad outcomes, are doing poorer in general. Someone who has successfully predicted an extreme event is not likely to repeat the success very often. - Christina Fang from NYU Stern Business School in Freakonomics.com Topi Järvinen (@topij)
  11. 11. You need a great idea, but… Topi Järvinen (@topij)
  12. 12. Most people think it’s all about the idea. It’s not. EVERYONE has ideas. The hard part is to execute on the idea. - Mark Cuban, serial entrepreneur Topi Järvinen (@topij)
  13. 13. An idea can be done in million+ ways There were tens of social media network services before Facebook Topi Järvinen (@topij)
  14. 14. What about asking customers? Topi Järvinen (@topij)
  15. 15. If I had asked people what they wanted, they would have said faster horses. -Henry Ford Topi Järvinen (@topij)
  16. 16. Want Faster horses Problem Traveling takes too long Need Better and faster transportation Solution Mass-produced car Topi Järvinen (@topij)
  17. 17. Make sure you really understand what is the problem that is worth solving Ie. customers think that it’s worth their time and/or money Topi Järvinen (@topij)
  18. 18. Great products in three easy steps Topi Järvinen (@topij)
  19. 19. Validate 1 2 3 your understanding of the problem your solution to the problem the value and scalability of your solution Topi Järvinen (@topij)
  20. 20. And this is how you do it from Lean Startup (E. Ries) Build-Measure-Learn -loop Topi Järvinen (@topij) Repeat as many times as needed
  21. 21. There’s no need to be feature complete Topi Järvinen (@topij)
  22. 22. If you are not embarrassed by the first version of your product, you’ve launched too late. - Reid Hoffman, LinkedIn founder Topi Järvinen (@topij)
  23. 23. Minimum Viable Product Validated learning about customers Get maximum learning with the least effort Topi Järvinen (@topij)
  24. 24. MVP’s come big and small Topi Järvinen (@topij)
  25. 25. The Pivot: Sometimes it’s good to change direction Topi Järvinen (@topij)
  26. 26. The pivot. It used to be called ‘the fuck-up.’ - Marc Andreessen, Netscape Founder, VC Topi Järvinen (@topij)
  27. 27. Some of the greatest companies came out of pivots Topi Järvinen (@topij)
  28. 28. Are you making a difference? Topi Järvinen (@topij)
  29. 29. “How disappointed would you be if you could no longer use our product?“ “Very Disappointed” needs to be more than Or you may have problems ahead Source: Brent Ellis, startup-marketing.com Topi Järvinen (@topij) %
  30. 30. “How likely are you to recommend us to your friends?" Net Promoter Score (-100 to +100) Source: Satmetrix 2013 Topi Järvinen (@topij) +70 +50 Top companies Amazon, Apple etc. Successful companies
  31. 31. Are you? Topi Järvinen (@topij)
  32. 32. There are good tools to help you along the way Topi Järvinen (@topij)
  33. 33. Here’s what your notes should say Topi Järvinen (@topij)
  34. 34. Thank you! Topi Järvinen topi@nestholma.com Twitter: @topij fi.linkedin.com/in/topij Nestholma in co-operation with nestholma.com twitter.com/nestholma facebook.com/Nestholma nestholma.com/blog
  35. 35. NISP Materials for presentations