Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Startup Ideas and Validation

219,283 views

Published on

Every startup begins with an idea. This is a talk on how to come up with startup ideas and how to use validation to pick the ones worth working on. It's based on the book "Hello, Startup" (http://www.hello-startup.net/). You can find the video of the talk here: https://www.youtube.com/watch?v=GkmiE8d_5Pw

  • FREE WEBSITE MOCKUP IN 24 Hrs VISIT-https://bit.ly/2FEUzzg
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Nice !! Download 100 % Free Ebooks, PPts, Study Notes, Novels, etc @ https://www.ThesisScientist.com
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Hello! Get Your Professional Job-Winning Resume Here - Check our website! https://vk.cc/818RFv
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Saturday $1890 http://expertoptionbroker.com/review
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Hi there! Essay Help For Students | Discount 10% for your first order! - Check our website! https://vk.cc/80SakO
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Startup Ideas and Validation

  1. Startup IDEAS and VALIDATION
  2. Every startup begins with an idea
  3. Links in websites can be ranked like citations in academic papers
  4. Professionals need an online presence and social network
  5. This is a talk about coming up with ideas
  6. And picking a good one through validation
  7. It’s based on the book, Hello, Startup hello-startup.net
  8. I’m Yevgeniy Brikman ybrikman.com
  9. Founder of Atomic Squirrel atomic-squirrel.net
  10. PAST LIVES
  11. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  12. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  13. Where do ideas come from?
  14. Is it from a flash of insight?
  15. Thomas Edison and a light bulb
  16. Isaac Newton and an apple
  17. Archimedes and “Eureka!”
  18. Actually, most historians believe the “Eureka!” story is made up.
  19. An apple did not hit Newton. He studied gravity for 20 years.
  20. Edison didn’t invent the light bulb, but an affordable filament.
  21. After testing thousands of materials.
  22. “I have not failed. I've just found 10,000 ways that won't work.” – Thomas Edison
  23. Ideas are not just flashes of insight. They grow and evolve.
  24. Which means first, you must plant seeds
  25. The seeds of ideas are knowledge
  26. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  27. What do the following songs have in common?
  28. They are all based on the exact same 4 chords
  29. And so are dozens of other hit songs
  30. Axis of Awesome 4 Chord Song
  31. Top 100 movies, 2000 - 2009
  32. 74 of them were sequels, remakes, or adaptations
  33. The sequel to a movie based on a cartoon based on a US toy based on Japanese toy.
  34. Microsoft Windows (~1990)
  35. Apple Mac OS (~1984)
  36. Xerox Alto (~1973)
  37. Stanford NLS (~1968)
  38. Not the first search engine (Yahoo, Altavista, Excite, etc.)
  39. Key idea copied from bibliometrics and citation analysis
  40. Not the first social network (SixDegrees, Friendster)
  41. Not the first professional network (Ryze, Xing)
  42. This talk is a remix of my book
  43. My book is a remix of other books
  44. Knowledge
  45. Ideas
  46. Ideas are connections between the knowledge in your mind
  47. The more you know, the more connections are possible
  48. To form connects, you need the right environment
  49. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  50. Throughout history, we often see multiple discovery
  51. Calculus: Isaac Newton and Gottfried Wilhelm von Leibniz
  52. Evolution: Charles Darwin and Alfred Russel Wallace
  53. Telephone: Elisha Gray and Alexander Graham Bell
  54. “I invented nothing new. I simply assembled the discoveries of other men behind whom were centuries of work. Had I worked 50 or 10 or even 5 years before, I would have failed. So it is with every new thing.
  55. Progress happens when all the factors that make for it are ready, and then it is inevitable. To teach that a comparatively few men are responsible for the greatest forward steps of mankind is the worst sort of nonsense.” – Henry Ford
  56. The environment plays a huge role in coming up with ideas
  57. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  58. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  59. Not a diary, but a way to log ideas whenever you have them.
  60. No filters. Don’t judge your ideas. Just write them down.
  61. Write down not only ideas, but also problems and questions.
  62. A UC Davis study by Dean Kean Simonton found eminent achievers produce not only more “great” works, but also more “bad” ones.
  63. “The best way to have a good idea is to have a lot of ideas.” – Linus Pauling
  64. Review periodically. This is how ideas grow and evolve.
  65. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  66. First, work intensely to load the problem into your mind.
  67. Then get away from work.
  68. Einstein had his best ideas during violin breaks.
  69. Some people get ideas in the shower. I get mine on walks.
  70. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  71. Try this exercise from Made to Stick:
  72. In 15 seconds, write down as many things that are white as you can think of.
  73. Do the exercise again, but this time, write down white things in your refrigerator.
  74. Which was easier?
  75. Constraints breed creativity
  76. Someone once challenged Ernest Hemmingway to write a story in just 6 words. The result:
  77. For sale: baby shoes, never worn.
  78. If no ideas are coming to mind, try narrowing the problem space
  79. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  80. “Live in the future, then build what’s missing.” – Paul Graham
  81. But how exactly do you live in the future?
  82. At Xerox PARC, they used to play the Wayne Gretzky Game
  83. “Skate to where the puck is going to be, not where it has been.” – Wayne Gretzky
  84. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  85. Where there is pain, there is opportunity
  86. “This is stupid, there must be a better way” – Mahmoud Al-Qudsi
  87. “Is this how the world should be?” – Reid Hoffman
  88. The key ingredients: 1. Keep an idea journal 2. Get away from work 3. Add constraints 4. Live in the future 5. Look for pain 6. Talk to others
  89. Don’t keep your ideas secret.
  90. If someone could beat you just by hearing your idea, it wasn’t a defensible idea to begin with.
  91. Two minds are greater than one
  92. Just explaining your ideas out loud will reveal new ideas
  93. Even if the other person isn’t an expert in that domain
  94. Even if the other person isn’t a person (rubber duck debugging)
  95. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  96. “The surprising fact is that companies large and small, established corporate giants as well as brand new startups, fail in 9 out of 10 attempts to launch their new products.”
  97. CB insights looked at the post- mortems of 100+ failed startups
  98. The #1 cause of failure: “no market need”
  99. Don’t spend years working on the wrong problem
  100. It’s easy to find something that sounds like a problem, but isn’t
  101. Consider the dental industry
  102. Problems to solve: Healthy teeth, healthy gums
  103. Problems to solve: white teeth, fresh breath
  104. Wrong problem means wrong products, marketing, sales
  105. “People don't want to buy a quarter-inch drill. They want a quarter-inch hole!” – Theodore Levitt
  106. How to validate you’re solving the right problem: 1. Ask who will buy it? 2. Ask the 5 whys 3. Ask why now? 4. Ask why you?
  107. How to validate you’re solving the right problem: 1. Ask who will buy it? 2. Ask the 5 whys 3. Ask why now? 4. Ask why you?
  108. Find a customer before you build the product
  109. Don’t build anything until they commit to buying it.
  110. Who would buy a non-existent product? An earlyvangelist.
  111. Earlyvangelist: 1. They have a problem. 2. They’re aware of the problem. 3. They built an interim solution. 4. They have money to spend.
  112. To find these customers, you’ll have to get out of the building
  113. How to validate you’re solving the right problem: 1. Ask who will buy it? 2. Ask the 5 whys 3. Ask why now? 4. Ask why you?
  114. If you ask people what coffee they like, most would say, “a dark, rich, hearty roast.”
  115. But what most people actually like is milky, weak coffee.
  116. “If I had asked people what they wanted, they would have said faster horses.” – Henry Ford
  117. You have to dig to find the real problems and solutions.
  118. Try out the 5 Whys Technique:
  119. “The truck won’t start.”
  120. “The battery died.” “Why? ”
  121. “The alternator wasn’t working.” “Why?
  122. “The alternator belt broke.” “Why?
  123. “The belt wasn’t replaced on time.” “Why? ”
  124. “We didn’t follow the maintenance schedule.” “Why? ”
  125. How to validate you’re solving the right problem: 1. Ask who will buy it? 2. Ask the 5 whys 3. Ask why now? 4. Ask why you?
  126. The famous question from Sequoia Capital: Why now?
  127. Why not 2 years ago? 2 years from now? What changed?
  128. Example: Webvan vs Instacart.
  129. How to validate you’re solving the right problem: 1. Ask who will buy it? 2. Ask the 5 whys 3. Ask why now? 4. Ask why you?
  130. You found a real problem. Should you be the one to solve it?
  131. Don’t ignore aspirations
  132. It takes, on average, 10 years to build a successful startup
  133. Are you willing to dedicate a decade of your life to this?
  134. If you’re willing, the next step is to evaluate the market
  135. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  136. How many customers do you need to be successful?
  137. For example, if you want to do $1B in revenue some day:
  138. Sell product at: $1 to 1 billion: Coca-Cola (cans of soda) $10 to 100 million: Johnson & Johnson (household products) $100 to 10 million: Blizzard (World of Warcraft) $1,000 to 1 million: Lenovo (laptops) $10,000 to 100,000: Toyota (cars) $100,000 to 10,000: Oracle (enterprise software) $1,000,000 to 1,000: Countrywide (high-end mortgages) (from the Stanford Startup Engineering Course)
  139. Market sizing techniques: 1. Research competitors 2. Use ad-targeting tools 3. Find a community 4. Do some good-old research
  140. Market sizing techniques: 1. Research competitors 2. Use ad-targeting tools 3. Find a community 4. Do some good-old research
  141. Competitors are a form of validation too.
  142. Tools to research competitors: 1. Web analytics Quantcast, Moz, Comscore, Alexa, SimilarWeb 2. Mobile analytics App Annie, Apptopia, Xyo, Apptweak 3. Social analytics Fanpage Karma, SpyFu, Google Trends, Twitonomy 4. Funding CrunchBase, AngelList, Owler, Kickstarter
  143. Market sizing techniques: 1. Research competitors 2. Use ad-targeting tools 3. Find a community 4. Do some good-old research
  144. Use ad-targeting tools to explore market demographics
  145. Ad-targeting tools: 1. Google Keyword Planner 2. Facebook Ads 3. LinkedIn Ads 4. Twitter Ads
  146. Market sizing techniques: 1. Research competitors 2. Use ad-targeting tools 3. Find a community 4. Do some good-old research
  147. There may already be a community for your product
  148. Community tools: 1. Meetup.com 2. Lanyrd 3. Subreddits 4. Quora topics 5. LinkedIn Groups
  149. Market sizing techniques: 1. Research competitors 2. Use ad-targeting tools 3. Find a community 4. Do some good-old research
  150. Research tools: 1. Newspapers, books, journals 2. Government reports, SEC filings 3. Google 4. Google Trends 5. World Bank Data 6. AYTM Surveys 7. Nielson Research
  151. If the market is big enough, the next validation step is the MVP
  152. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  153. A Minimum Viable Product is not a product. It’s a process.
  154. “You know that old saw about a plane flying from California to Hawaii being off course 99% of the time—but constantly correcting?
  155. The same is true of successful startups— except they may start out heading toward Alaska.” – Evan Williams
  156. Naïve view of product development
  157. A more realistic view of product development
  158. In a trial-and-error world, the one who finds errors fastest, wins.
  159. The MVP process is repeatedly ask yourself two questions:
  160. 1. What’s my riskiest assumption? 2. What’s the smallest experiment to test it?
  161. The smallest experiment doesn’t have to be a product.
  162. Landing page MVP (Buffer)
  163. Explainer video MVP (Dropbox)
  164. Crowd-funding MVP (Pebble)
  165. Wizard of Oz MVP (Zappos)
  166. Piecemeal MVP (Groupon)
  167. The smallest experiment does have to be viable
  168. How to build an MVP
  169. Let’s go through an example
  170. 1. Inspiration 2. Knowledge 3. Environment 4. Problem 5. Market 6. MVP Outline
  171. For more info, see Hello, Startup hello-startup.net
  172. For a list of startup ideas, market sizing tools, and MVP tools, see hello-startup.net/resources
  173. Axis of Awesome 4 Chord Song
  174. Questions?
  175. Light bulb (blue): Serge Saint Light bulbs (many): Andrew Moore Thomas Edison with bulb: Wikimedia Isaac Newton: Wikimedia Archimedes: Wikimedia Thomas Edison: Louis Bachrach Potted plant: Craig Sunter Windows: Wikimedia Mac OS: Wikimedia Xerox Alto: DigiBarn NLS Computer: Mother of All Demos Journey: Wikimedia Elton John: Wikimedia Beatles: Wikimedia Lady Gaga: Wikimedia Information vs knowledge: gapingvoid Everything is a Remix: Kirby Ferguson Copy, transform, combine: Kirby Ferguson Gottfried Wilhelm von Leibniz: Wikimedia Isaac Newton: Wikimedia Alfred Russel Wallace: Wikimedia Charles Darwin: Wikimedia Elisha Gray: Wikimedia Alexander Graham Bell: Wikimedia Henry Ford: Wikimedia Moleskine: Barn Images Linus Pauling: Wikimedia Glasses: Matheus Almeida Walk in the park: Brian Smithson Barbed wire: Alexandre Dulaunoy Wayne Gretzky Game: Alan Kay Blueprint: Will Scullin References & image credits, part 1
  176. References & image credits, part 2 Egg: Kate Ter Haar Meeting: Simon Blackley Steve Blank: Wikimedia Death Valley: 白士 李 Men shaking hands: Didriks Toothpaste: William Warby Colgate aisle: Fredrik Rubensson Crest Pro Health: m01229 Listerine: Mike Mozart Crowd: Scott Cresswell Arm wrestling: U.S. Army Europe Images Community: Kat Clock: Earls37a Evan Williams: Wikimedia MVP car: Henrik Kniberg Wayne Gretzky: Wikimedia Paul Graham: Wikimedia Lab experiment: UCL Dean Simonton: UC Davis Google Analytics: Blue Fountain Media Coffee cup: OiMax Truck: darkday Report: Juhan Sonin

×