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Lean Startup Presentation for EWPN from Yu-kai Chou

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Yu-kai Chou talks about lean startups.

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Lean Startup Presentation for EWPN from Yu-kai Chou

  1. 1. Social CRM for Local Commerce Yukai@RewardMe.com
  2. 2. TEAM BACKGROUNDThe team met at UCLA and has worked in startupstogether for 4 years. REWARDME.COM
  3. 3. TEAM BACKGROUNDNotable Startups include Onebox (sold $850M),Verdisoft (sold $93M), SEVEN Networks, CausticGraphics (sold $27M), and Bunchball REWARDME.COM
  4. 4. Team BackgroundOur core strength lies in eCommerce, Social Mediaand Gamification; we have spoken or led campaignsfor many brands and universities. REWARDME.COM
  5. 5. RewardMe In Store REWARDME.COM
  6. 6. How CRMs SHOULD Work1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  7. 7. How CRMs SHOULD Work1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  8. 8. How CRMs SHOULD Work Better Loyalty Engagement1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  9. 9. How CRMs SHOULD Work Better Loyalty Engagement1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  10. 10. How CRMs SHOULD Work Better Business Intelligence1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  11. 11. How CRMs SHOULD Work Better Business Intelligence1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  12. 12. How CRMs SHOULD Work Better Customer Relationship1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  13. 13. How CRMs SHOULD Work Real-time Intelligent CRM1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
  14. 14. "While there are many loyalty products in the market, RewardMeinnovates towards delivering great value by empowering businesseswith deep and actionable knowledge of their customers in realtime." -HP Jin, CEO of TeleNav (NASDAQ: TNAV)
  15. 15. TractionEvaluation Negotiations (VP+ Level) Pilot Full Rollout REWARDME.COM
  16. 16. The Other Side• 4 Years of Struggling• No income• 80+ hour weeks• Doubted by peers and family• Failure after failure - economic conditions and team morale REWARDME.COM
  17. 17. The Startup Journey• FDWorld ->• FDCareer ->• Viralogy: Social Media Ranking ->• Viralogy: Recommendation Engine ->• RewardMe: QR Code Loyalty ->• RewardMe: Social CRM :D REWARDME.COM
  18. 18. Key Lessons
  19. 19. 1. Stay Lean• Founder Salary???• Recruit with Passion• Have a Technical Co-founder• Be resourceful• Work-Work Balance• Utilize social media REWARDME.COM
  20. 20. 2. Pivot Fast• Launch fast• Validate faster• Customer development• Flashlight vs Laser• No time to mope - move on• Keep team morale together REWARDME.COM
  21. 21. 3. Raise Money• 3 Fs: Friends, Family, and Fools• Seed Round: Angel Investors• VC Round: Requires Traction• Keep everyone regularly updated• Play the Game - eliminate neediness• Regional Differences REWARDME.COM
  22. 22. 4. Financial Projections• Don’t waste too much time on it• Focus on Target Addressable Market• Use bottom-up calculations• Have a clean assumption sheet• Start moderate, end aggressive• Don’t waste too much time on it REWARDME.COM
  23. 23. 5. Competition• Endorse your competitors as your best teachers• Competitors don’t kill startups• Indifferent customers do• Laziness is your enemy• Competitors can teach you how to eliminate customer laziness REWARDME.COM
  24. 24. 6. Stay Focused• Flashlight vs Laser• Pick a niche• Limited resources• Focus product• Focus marketing• Let go of distractions REWARDME.COM
  25. 25. Thank You Yu-kai Chou 714.273.7088Yukai@RewardMe.com REWARDME.COM

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