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NOMADIGO @ Tech Loft - October 2012
- 1. What’s The MVP to Achieve Maximum Market Velocity? How to effectively manage your product launch… Ari Gottesmann ari@nomadigo.com Business Acceleration +972-54-440-5209
- 4. Inventor Entrepreneur
- 15. Financials Case Study Visuals Value Calculator Reference Product Customer Brochure Executive Summary Landing Page Movie
- 33. SALES
- 46. Financials Case Study Visuals Value Calculator Reference Product Customer Brochure Executive Summary Landing Page Movie
- 52. What’s The MVP to Achieve Maximum Market Velocity? How to effectively manage your product launch… Ari Gottesmann ari@nomadigo.com Business Acceleration +972-54-440-5209
Editor's Notes
- Check the Market Before You Build This is what every VC thinks of your idea before you walk in the room. These are all good situations – they are solving an existing problem – just not effectivelyToday we are going to talk about how to change their perceptions – as well as give you the tools to evaluate your ideas objectively. Can we agree they are a bit odd? Who would use them?
- In Israel we have a different problem – we build technology – without a problem to solve. Who would use this? Why? Why not? I know that someone in the room here is going to come back to me in 10 years riding one of these saying how great it is…
- At the end of the day it is about BUSINESS & Selling Before you go to VC’s you need to ask:Fundable BootstrapableCrowdFundAble
- Verify the Need Pitching your idea to people who have heard it all will give you invaluable feedback. This feedback is valuable and can help even if they don’t invest Real value of a VC is not only the money – FeedbackDon’t try this here… Spit & SwallowThe willingness to put in the money actually is a good indicator if you are on the right track
- Are you building a product or a company? Determining Priorities in Development – MVP What do I build whenResources needed – how can I get them
- How many are working on building a prototype right now?How far have you gotten?How much time/money have you spent on it?What type of market research did you do first? Can you imagine a car manufacture building an engine without designing the car first? Assembling it after its been paintedPutting the rods into the engine after the body is assembled and paintedChanging the transmission after it has been assembled - Order of assembly Can you imagine a car manufacture doing the same thing? How do they build a product? Subcomponents? Don’t need to prove you can build it – we believe you – you need to prove the world needs it!
- If the tree falls in the forest – does it make a sound?
- First you should start with the people you want to talk to – What do you say to them? - But were are in Israel so we need to start with the message How do you get your message out?What do you need to do? Pretty Simple NO?
- Simplicity in one line – It is not so easy… - This word means many things to many people…How many of you have heard itHow do you respond to itWhy is such a simple message so difficult to understand?
- You know who you are – most of you know what you want“Most overused word in the English language…” Did you think about what the other guy wants? Will you get what you want without taking them into account?“Ego gets you to the door – just need to make sure it doesn't trample the other guy as you walk through…”
- How many of you have heard itHow do you respond to itWhy is such a simple message so difficult to understand?
- Cost of tech is going downCost of rising above the noise is going up
- Got to make noise You can shout it out yourselfYou can get friends & family to helpYou can pay for itHow many of you do things yourself?How many Tankistim do we have here? Airforce?Would you recommend for me to drive a tank by myself? Why would you try to do something you know nothing about?
- Path – Getting to your Goal
- What is Marketing?What is Sales?What is inbound sales?Fast economical way to sell
- Funnel
- I need sales people who will make me money – not marketing people who want to spend it…
- This is your home – make sure it looks good
- Do you want to chase customers & investors or do you want them to chase you?
- Stealth is Dead!Shout it out – let as many people hear about it as possible
- Once you have content out there – time to share it!
- SEO works – time consuming & potentially costly – while it is important, it might not be the priority for every start up.
- Can you convert a lead into a PAYING customer? If so – then can you do at a price point that it makes sense?If not – then it is probably to early for you to do it – just to spend money to get users without monetizing them is probably not the best strategy…
- Conversion is everything
- Marketing 2.0 – Improve the machine
- This is how you improve the process
- Beta Sites You will lose money – that’s OKIt is not just the cost of the site – time, attention, focus – but you need it as a reference customer- Reference Customers
- 99% of the time you are not selling to one person - You have to convince all of them
- Who do you hire as a sales person
- When
- Timing is everything
- Response time
- Persistance
- Is it only about inbound?Lets say you are at the info gathering stage…No Money For a Marketing Campaign? (not an excuse…) Who do you want to meet?Build a list – 30 Names – MetricsIf you don’t get interest with at least 15 – either your product or your pitch is bad You should get at least 10 meetings
- How are you going to get to them- Have a pitch that is going to impress them in 5 seconds What they need – how you can give it to themWho can refer you to themHow do you want to get to themDo your homeworkTalk to your friends – Find out what you can about the Person in front of you
- Hot – They contact youWarm – Someone makes an intro / someone with an interest / You say you were referred by… Cold - Yes it is old fashioned – It is also the way business is done – get them/someone close to them who can benefit on the phone – one minute call before you send the mail Who is on the Sales TEAM?Junior – Lead Gen – Qualification Senior – Lead Development / Closing 2:1 Ratio Cost 15K Jr 25-35K Senior ROI - - When are you measuring it? You should be spending = amounts on marketing and sales!
- What type of leads would you rather have?
- Are good materials enough?