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24 Steps to A Successful Startup
@Marius Ursache
Disciplined

Entrepreneurship
About me
2 Marius Ursache—Disciplined Entrepreneurship
Hola!
— MIT teaching fellow
— Founder & CEO of Eternime
— Awarded d...
Being an

entrepreneur

is the new

cool thing.
3 Marius Ursache—Disciplined Entrepreneurship
As a result, a lot of books
...
But is there

sufficient

understanding

of the topic?
4 Marius Ursache—Disciplined Entrepreneurship
Hmmmm...
Successful
entrepreneurship

requires people willing to
work hard and work smart.
5 Marius Ursache—Disciplined Entrepreneu...
We all know entrepreneurs
who work hard.
6 Marius Ursache—Disciplined Entrepreneurship
Oompa-Loompa-Oompa-Loompa-Oompa-Loo...
What about entrepreneurs
who work smart?
7 Marius Ursache—Disciplined Entrepreneurship
Great tools & frameworks
8 Marius Ursache—Disciplined Entrepreneurship
Lean

Startup
Business

Model

Canvas
Start with MVP
9 Marius Ursache—Disciplined Entrepreneurship
DO NOT

start with MVP
10 Marius Ursache—Disciplined Entrepreneurship
What about entrepreneurs
who work smart?
11 Marius Ursache—Disciplined Entrepreneurship
Smart entrepreneurs
12 Marius Ursache—Disciplined Entrepreneurship
Spirit Skills+
of a pirate of a Navy Seal
Smart=Discipline
13 Marius Ursache—Disciplined Entrepreneurship
What is

Disciplined
Entrepreneurship?
Marius Ursache—Disciplined Entrepreneurship14
Disciplined

Entrepreneurship
15 Marius Ursache—Disciplined Entrepreneurship
www.bit.ly/d-eship
— Managing Director,

Martin Trust Center for

MIT Entrepreneurship.
— Senior lecturer MIT Sloan.
— Serial entrepreneur.
B...
Who’s using it?
17 Marius Ursache—Disciplined Entrepreneurship
and more…
A common language
18 Marius Ursache—Disciplined Entrepreneurship
Highly iterativeFramework Toolbox
19 Marius Ursache—Disciplined Entrepreneurship
1. Who is your customer?
2. What can you do for your customer?
3. How does the customer acquire your product?
4. How do yo...
Six themes=24 steps
21 Marius Ursache—Disciplined Entrepreneurship
The 24 steps
Marius Ursache—Disciplined Entrepreneurship22
What?
Brainstorm & identify how your
idea/technology can serve a
variety of potential end users.
Primary market research i...
What?
Select one market segment from
step #1 where you feel you have
the highest odds of success and it
has strategic valu...
What?
Using primary market research
techniques build out a description
including demographic information
& increasingly sp...
What?
Estimate of the dollars per year
you will get in your beachhead
market if you achieve 100%
market share.

Why?
To ma...
What?
Identify one actual real end user in
your beachhead market that best
represents your end user profile.

Why?
Creates ...
What?
Understand & describe how your
product will fit into the persona’s
work flow.

Why?
This will provide valuable
informa...
What?
Create a visual description of the
product as well as making a simple
draft brochure.

Why?
You need to make sure yo...
What?
Summarize in as concrete a way
as possible the value your product
will create for the target customer.

Why?
Custome...
What?
Create a list of the next 10
customers after the persona who
closely fit the end user profile.

Why?
Validates the per...
What?
Determine the single thing that
you will do better than anyone
else that will be very difficult for
others to copy.

W...
What?
Represent visually your position
relative to the other alternatives
in the persona’s top two priorities.

Why?
Custo...
What?
Determine all the people who are
involved in making the decision to
acquire your product – including
influencers.

Wh...
What?
Detail how the members of the
DMU make a decision to buy your
product. 

Why?
This will be a critical input to
deter...
What?
Calculate the annual revenues
from the top follow-on markets
after you are successful in your
beachhead market. 

Wh...
What?
Review different ways to get paid
for your product and choose one
best aligned with all key
stakeholders’ interest. 
...
What?
Determine a framework to test
pricing for your new product and
make a decision on what the initial
price will be. 

...
What?
Estimate the Net Present Value of
the total profits you will get from
a new customer over the life time
of that custo...
What?
Visually map the short, medium
and long-term ways you will create
and fulfill demand for your
product. 

Why?
This wi...
What?
Estimate the total marketing &
sales expense in a given period to
get new customers & then divide
this by the number...
What?
Identify key assumptions to be
tested before you begin to make
heavy investments in product
development.

Why?
It wi...
What?
Test, through a series of small &
inexpensive experiments, each of
the individual assumptions you
have identified in ...
What?
Define the minimum product that
you can use to test whether your
customer gets value from the
product and whether you...
What?
Offer your MVBP to your target
customer & obtain quantitative
metrics regarding the adoption
rate of the product, the...
What?
Develop a longer-term plan to add
functionality so you can address
additional markets. 

Why?
It is important to thi...
47 Marius Ursache—Disciplined Entrepreneurship
Complicated,

isn’t it?
Marius Ursache—Disciplined Entrepreneurship48
Who said it was easy?


Planning
to launch
a startup

49 Marius Ursache—Disciplined Entrepreneurship
Who said it was easy?


Planning
to launch
a startup

50 Marius Ursache—Disciplined Entrepreneurship
Effort and resources

...
It takes months,

but saves years!
51 Marius Ursache—Disciplined Entrepreneurship
“I'm as proud of the things
we haven't done as the
things I have done.”
Steve Jobs
52 Marius Ursache—Disciplined Entrepren...
Disciplined Entrepreneurship
applies to hybrid innovation,
not only to software.
53 Marius Ursache—Disciplined Entrepreneu...
Want more?
Marius Ursache—Disciplined Entrepreneurship54
The book
55 Marius Ursache—Disciplined Entrepreneurship
www.bit.ly/d-eship
The online course
56 Marius Ursache—Disciplined Entrepreneurship
www.bit.ly/e-101
The toolbox
57 Marius Ursache—Disciplined Entrepreneurship
www.detoolbox.com
The workshops
58 Marius Ursache—Disciplined Entrepreneurship
Santiago, Chile

March-June 2015
workshops.detoolbox.com
@MariusUrsache

hello@mariusursache.com
Gracias!
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The Future of Startups: Disciplined Entrepreneurship #FutureOf #startups #entrepreneurship

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An introduction to the Disciplined Entrepreneurship framework created by Bill Aulet, the Managing Director of the Martin Trust Center for MIT Entrepreneurship, and used by thousands of startups around the world.

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The Future of Startups: Disciplined Entrepreneurship #FutureOf #startups #entrepreneurship

  1. 24 Steps to A Successful Startup @Marius Ursache Disciplined
 Entrepreneurship
  2. About me 2 Marius Ursache—Disciplined Entrepreneurship Hola! — MIT teaching fellow — Founder & CEO of Eternime — Awarded designer — Former doctor — Productivity porn addict — Entrepreneur, ofc
  3. Being an
 entrepreneur
 is the new
 cool thing. 3 Marius Ursache—Disciplined Entrepreneurship As a result, a lot of books and gurus pop up…
  4. But is there
 sufficient
 understanding
 of the topic? 4 Marius Ursache—Disciplined Entrepreneurship Hmmmm...
  5. Successful entrepreneurship
 requires people willing to work hard and work smart. 5 Marius Ursache—Disciplined Entrepreneurship
  6. We all know entrepreneurs who work hard. 6 Marius Ursache—Disciplined Entrepreneurship Oompa-Loompa-Oompa-Loompa-Oompa-Loompa-Oompa-Loompa!
  7. What about entrepreneurs who work smart? 7 Marius Ursache—Disciplined Entrepreneurship
  8. Great tools & frameworks 8 Marius Ursache—Disciplined Entrepreneurship Lean
 Startup Business
 Model
 Canvas
  9. Start with MVP 9 Marius Ursache—Disciplined Entrepreneurship
  10. DO NOT
 start with MVP 10 Marius Ursache—Disciplined Entrepreneurship
  11. What about entrepreneurs who work smart? 11 Marius Ursache—Disciplined Entrepreneurship
  12. Smart entrepreneurs 12 Marius Ursache—Disciplined Entrepreneurship Spirit Skills+ of a pirate of a Navy Seal
  13. Smart=Discipline 13 Marius Ursache—Disciplined Entrepreneurship
  14. What is
 Disciplined Entrepreneurship? Marius Ursache—Disciplined Entrepreneurship14
  15. Disciplined
 Entrepreneurship 15 Marius Ursache—Disciplined Entrepreneurship www.bit.ly/d-eship
  16. — Managing Director,
 Martin Trust Center for
 MIT Entrepreneurship. — Senior lecturer MIT Sloan. — Serial entrepreneur. Bill Aulet Marius Ursache—Disciplined Entrepreneurship16
  17. Who’s using it? 17 Marius Ursache—Disciplined Entrepreneurship and more…
  18. A common language 18 Marius Ursache—Disciplined Entrepreneurship Highly iterativeFramework Toolbox
  19. 19 Marius Ursache—Disciplined Entrepreneurship
  20. 1. Who is your customer? 2. What can you do for your customer? 3. How does the customer acquire your product? 4. How do you make money off your product? 5. How do you design & build your product? 6. How do you scale your business? Six themes Marius Ursache—Disciplined Entrepreneurship20
  21. Six themes=24 steps 21 Marius Ursache—Disciplined Entrepreneurship
  22. The 24 steps Marius Ursache—Disciplined Entrepreneurship22
  23. What? Brainstorm & identify how your idea/technology can serve a variety of potential end users. Primary market research is then used to fill out a matrix. Why? It is crucial to start process with customer and work everything back from there Market segmentation 23 Marius Ursache—Disciplined Entrepreneurship
  24. What? Select one market segment from step #1 where you feel you have the highest odds of success and it has strategic value.
 Why? As a startup you have limited resources and focus is essential. Beachhead market 24 Marius Ursache—Disciplined Entrepreneurship
  25. What? Using primary market research techniques build out a description including demographic information & increasingly specific information about their needs & wants.
 Why? There are 3 reasons: 1. keep the focus on the end user; 2. deepen your understanding of the primary customer; 3. calculate the TAM in the next step End user profile 25 Marius Ursache—Disciplined Entrepreneurship
  26. What? Estimate of the dollars per year you will get in your beachhead market if you achieve 100% market share.
 Why? To make sure your beachhead market is not too big or too small. Total addressable market for beachhead market 26 Marius Ursache—Disciplined Entrepreneurship
  27. What? Identify one actual real end user in your beachhead market that best represents your end user profile.
 Why? Creates great focus in your organization and serves as a touchstone for all decisions going forward. Persona for beachhead market 27 Marius Ursache—Disciplined Entrepreneurship
  28. What? Understand & describe how your product will fit into the persona’s work flow.
 Why? This will provide valuable information for future steps and also help the team understand potential barriers to adoption from a sales perspective. Full life-cycle
 use case 28 Marius Ursache—Disciplined Entrepreneurship
  29. What? Create a visual description of the product as well as making a simple draft brochure.
 Why? You need to make sure your team all has a common agreement on what the product is. High level product
 specification 29 Marius Ursache—Disciplined Entrepreneurship
  30. What? Summarize in as concrete a way as possible the value your product will create for the target customer.
 Why? Customers buy based on value; needs to be clear you can show it. Quantified value proposition 30 Marius Ursache—Disciplined Entrepreneurship
  31. What? Create a list of the next 10 customers after the persona who closely fit the end user profile.
 Why? Validates the persona and all the assumptions you’ve made so far. Next 10 customers 31 Marius Ursache—Disciplined Entrepreneurship
  32. What? Determine the single thing that you will do better than anyone else that will be very difficult for others to copy.
 Why? Having a clear definition of your core will allow you to focus your limited resources to build & reinforce it. Product core 32 Marius Ursache—Disciplined Entrepreneurship
  33. What? Represent visually your position relative to the other alternatives in the persona’s top two priorities.
 Why? Customers don’t care about your “core.” But they do care about benefits relating to their priorities. Competitive position chart 33 Marius Ursache—Disciplined Entrepreneurship
  34. What? Determine all the people who are involved in making the decision to acquire your product – including influencers.
 Why? This starts the process to determine the cost of customer acquisition. Decision making unit 34 Marius Ursache—Disciplined Entrepreneurship
  35. What? Detail how the members of the DMU make a decision to buy your product. 
 Why? This will be a critical input to determine the length of the sales cycle & identify critical bottlenecks in the process. Customer acquisition process map 35 Marius Ursache—Disciplined Entrepreneurship
  36. What? Calculate the annual revenues from the top follow-on markets after you are successful in your beachhead market. 
 Why? It shows the potential that can come from winning your beachhead and motivates you to do so quickly and effectively. TAM for follow-on markets 36 Marius Ursache—Disciplined Entrepreneurship
  37. What? Review different ways to get paid for your product and choose one best aligned with all key stakeholders’ interest. 
 Why? Wise selection of a value extraction business model can dramatically reduce COCA, increase LTV and provide you with competitive advantage. Design
 business model 37 Marius Ursache—Disciplined Entrepreneurship
  38. What? Determine a framework to test pricing for your new product and make a decision on what the initial price will be. 
 Why? Small changes in pricing can have a huge impact on your profitability. Pricing framework 38 Marius Ursache—Disciplined Entrepreneurship
  39. What? Estimate the Net Present Value of the total profits you will get from a new customer over the life time of that customer. 
 Why? To complete the unit economics, you now need to estimate & understand the drivers of the LTV and it should get to at least 3X the COCA. Lifetime value of an acquired customer 39 Marius Ursache—Disciplined Entrepreneurship
  40. What? Visually map the short, medium and long-term ways you will create and fulfill demand for your product. 
 Why? This will be critical input to calculating the COCA over time. Sales process map 40 Marius Ursache—Disciplined Entrepreneurship
  41. What? Estimate the total marketing & sales expense in a given period to get new customers & then divide this by the number of new customers.
 Why? The unit economics are a simple but effective proxy for how sustainable & attractive your business will be as it scales. Cost of customer acquisition 41 Marius Ursache—Disciplined Entrepreneurship
  42. What? Identify key assumptions to be tested before you begin to make heavy investments in product development.
 Why? It will be faster & much less costly now to test the assumptions and allow you to preserve valuable resources & make adjustments as needed. Identify key assumptions 42 Marius Ursache—Disciplined Entrepreneurship
  43. What? Test, through a series of small & inexpensive experiments, each of the individual assumptions you have identified in step #20.
 Why? This scientific approach will allow you to understand which assumptions are valid & which ones are not, giving you time to adjust while the cost and time to do so is minimal. Test key assumptions 43 Marius Ursache—Disciplined Entrepreneurship
  44. What? Define the minimum product that you can use to test whether your customer gets value from the product and whether you can get paid for it, and that starts an iterative feedback loop with the customer.
 Why? You must reduce the variables in the equation to get the customer feedback loop started with the highest possibility of success with simultaneously the most efficient use of your scarce resources. Minimum Viable Business Product 44 Marius Ursache—Disciplined Entrepreneurship
  45. What? Offer your MVBP to your target customer & obtain quantitative metrics regarding the adoption rate of the product, the value the target customer is getting from the product & proof that someone is paying for the product. 
 Why? Numbers don’t lie. Show concrete evidence & don’t rely simply on anecdotal evidence. Show the dogs will eat the dog food 45 Marius Ursache—Disciplined Entrepreneurship
  46. What? Develop a longer-term plan to add functionality so you can address additional markets. 
 Why? It is important to think ahead & have a plan so people are ready to keep moving forward after the MVBP. Product plan 46 Marius Ursache—Disciplined Entrepreneurship
  47. 47 Marius Ursache—Disciplined Entrepreneurship
  48. Complicated,
 isn’t it? Marius Ursache—Disciplined Entrepreneurship48
  49. Who said it was easy? 
 Planning to launch a startup
 49 Marius Ursache—Disciplined Entrepreneurship
  50. Who said it was easy? 
 Planning to launch a startup
 50 Marius Ursache—Disciplined Entrepreneurship Effort and resources
 needed to launch
 a successful startup
  51. It takes months,
 but saves years! 51 Marius Ursache—Disciplined Entrepreneurship
  52. “I'm as proud of the things we haven't done as the things I have done.” Steve Jobs 52 Marius Ursache—Disciplined Entrepreneurship
  53. Disciplined Entrepreneurship applies to hybrid innovation, not only to software. 53 Marius Ursache—Disciplined Entrepreneurship
  54. Want more? Marius Ursache—Disciplined Entrepreneurship54
  55. The book 55 Marius Ursache—Disciplined Entrepreneurship www.bit.ly/d-eship
  56. The online course 56 Marius Ursache—Disciplined Entrepreneurship www.bit.ly/e-101
  57. The toolbox 57 Marius Ursache—Disciplined Entrepreneurship www.detoolbox.com
  58. The workshops 58 Marius Ursache—Disciplined Entrepreneurship Santiago, Chile
 March-June 2015 workshops.detoolbox.com
  59. @MariusUrsache
 hello@mariusursache.com Gracias!

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