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A New Entrepreneurship - A Backwards Approach

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Presentation given by Eric & Ashley Jennings of Loopshot, for the 2010 Nevada Interactive Media Summit.

Published in: Business, Education
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A New Entrepreneurship - A Backwards Approach

  1. 1. Toward a New Entrepreneurship <ul><li>A Backwards Approach </li></ul>
  2. 3. Hello! <ul><li>Eric Jennings - Techno </li></ul><ul><li>Ashley Jennings - Marketeer </li></ul>
  3. 4. Let’s Try It Out
  4. 5. The worst thing about my bank is ____________ . (Hold that thought for a moment)
  5. 6. First, Brand!
  6. 7. First, Brand!
  7. 8. First, Brand! 2.0
  8. 9. Next, Product!
  9. 10. Next, Product!
  10. 11. Next, Product!
  11. 12. Next, Product!
  12. 13. Next, Product! and frappe!
  13. 14. Now, Market!
  14. 15. Now, Market!
  15. 16. Now, Market!
  16. 17. Now, Market!
  17. 18. Now, Market!
  18. 19. First Year Sales
  19. 20. First Year Sales
  20. 21. First Year Sales
  21. 22. What Went Wrong?
  22. 23. What Went Wrong? Stop doing, start listening
  23. 24. The Backwards Approach - Step 1 Customer Discovery
  24. 25. The Backwards Approach - Step 2 Minimum Viable Product (MVP)
  25. 26. The Backwards Approach - Step 3 Product/Market Fit (40% Fit)
  26. 27. Check Your Progress <ul><li>if (P/M Fit >= 40%) { </li></ul><ul><ul><li>Company::rampUp(); </li></ul></ul><ul><ul><li>Employees::hire(); </li></ul></ul><ul><ul><li>Marketing::purchase(); </li></ul></ul><ul><ul><li>startAtStep1Again(); </li></ul></ul><ul><ul><li>} else { </li></ul></ul><ul><ul><li>} </li></ul></ul>
  27. 28. From EPICFAIL to Grandmaster
  28. 29. From EPICFAIL to Grandmaster
  29. 30. From EPICFAIL to Grandmaster
  30. 31. From EPICFAIL to Grandmaster
  31. 32. From EPICFAIL to Grandmaster
  32. 33. To Recap
  33. 34. To Recap <ul><li>First, discover customer pain points </li></ul>
  34. 35. To Recap <ul><li>First, discover customer pain points </li></ul><ul><li>Next, build Minimum Viable Product </li></ul>
  35. 36. To Recap <ul><li>First, discover customer pain points </li></ul><ul><li>Next, build Minimum Viable Product </li></ul><ul><li>Then measure product/market fit </li></ul>
  36. 37. To Recap <ul><li>First, discover customer pain points </li></ul><ul><li>Next, build Minimum Viable Product </li></ul><ul><li>Then measure product/market fit </li></ul><ul><li>Have at least 40%? If not, repeat </li></ul>
  37. 38. To Recap <ul><li>First, discover customer pain points </li></ul><ul><li>Next, build Minimum Viable Product </li></ul><ul><li>Then measure product/market fit </li></ul><ul><li>Have at least 40%? If not, repeat </li></ul><ul><li>Under 40% after several iterations? Fail fast. Try another idea. </li></ul>
  38. 39. Tools of the CDD Trade <ul><li>Survey.io </li></ul><ul><li>GetSatisfaction </li></ul><ul><li>MailChimp </li></ul><ul><li>Google Analytics with conversion funneling and ROI goals </li></ul>
  39. 40. Thank you! Questions? Questions? Questions?

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