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Online Tuesday #34 - What's App? - King Yiu Chu - beebump


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King Yiu Chu van beebump gaat in op de complexiteit van het ecosysteem waarvan je als app en start-up onderdeel uitmaakt.

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Online Tuesday #34 - What's App? - King Yiu Chu - beebump

  1. 1. STARTUP from an idea to an appKing Yiu Chu, CEO & co-founder of beebump
  2. 2. 2006 20082010 2012
  3. 3. 2013 Spark a smile before you arrive!
  4. 4. START-UPfrom an idea to a successful app King Yiu Chu, CEO & co-founder of beebump
  6. 6. “Focus on the need not the solution!”You’ll lose interest when thesolution doesn’t fit the need. Adil Wali (CTO, ModCLoth)
  7. 7. Apps are part of an eco system Adapt to it or create one!
  8. 8. Let your vision evolve over timeStart   Your  brain   Funding   v1.0  
  9. 9. PUNCTUATEDEQUILIBRIUM The theory that speciation occurs inspurts of major genetic alterations thatpunctuate long periods of little change.
  10. 10. Rapid evolutionary changecaused by … •  changes in the eco-systems •  the power of the added feature •  impact on other eco-systems •  development within a small group •  luck
  11. 11. Ook wel genoemd…
  12. 12. Strong vision follows an evolutionarypath, just like in nature.Nature, shows rapidly changes becauseof changes in eco-systems.The only difference with nature isthat we can introduce or change eco-systemsin the real world to initiate rapid changes.
  13. 13. Location based services •  Share your location = bye bye privacy •  GPS drains your phone’s battery •  Friends have to use it as well
  14. 14. Evolution of online social networks•  Perfect timing for a new eco-system: •  Developers •  Brands •  Agencies •  Online social sharing•  Small groups make the product evolve
  15. 15. Evolution of online social networks•  Who solves the privacy issues?•  Who secures my photos, data and social graph?•  The mobile advertising space…
  16. 16. Make markets more efficient. Go disrupt an eco system! Or create new markets.
  17. 17. Form the company
  18. 18. You cannot do this on your own!•  Investors want you to have a partner•  Maximum of 3 founders to avoid control issues How many partners?
  19. 19. What to look for?•  Someone who has different skills than you•  Someone with the same work ethic•  Someone who has the same vision about product development•  Find people with similar values Choose your partner wisely
  20. 20. WATCH OUT!
  21. 21. “Don’t start a startup because you want fameor fortune. Do it because you are obsessed in solving a problem.”
  22. 22. •  King Yiu Chu, chinese/dutch passionate, experienced and creative mobile product manager with visionary skills and a sharp eye for details.•  Michael Gachet, a curious, passionate and creative French engineer with an entrepreneurial streak, a solid software and product development experience.
  23. 23. Funding
  24. 24. Bootstrapping
  25. 25. Venture funding•  Startups are money drainers!•  funding = losing shares = losing control create value with millions of users who love your product
  26. 26. Venture funding•  What’s the investors track record with startups?•  Can they fund a second time?•  Do they have some of their own money in play?•  What’s their sweetspot?•  Are they just as excited as you are?•  Show them at least a minimal viable product Investors are NOT your friends!
  27. 27. Venture funding•  Hire a financial & legal advisor•  Get to know all the details about VC’s
  28. 28. EXPLORE APPS IN THE SAME CATEGORY •  Learn how they work •  Learn how the flows work •  Read the reviews •  Read comments about the apps on forums •  Ask people what they think about it
  29. 29. PRODUCT DEVELOPMENT“If you are not embarrassedwhen you ship your firstversion, you waited too long”Matt Mullenweg, CEO & Co-founder of Wordpress
  30. 30. PRODUCT DEVELOPMENT“The best products inthe world start out asfeatures.”Kevin Systrom, CEO Instagram
  31. 31. PRODUCT DEVELOPMENT“You can’t learn if you can’t fail.”ERIC RIES, former CTO IMVU
  33. 33. PRODUCT DEVELOPMENTdevelop a minimal viable product to get your first VC funding
  34. 34. PRODUCT DEVELOPMENTMinimal Viable Product1.  Focus on one use case which addresses the problem2.  Start with a minimal core of features3.  Release and listen to your users4.  Question your initial assumptions based on feedback5.  Change and repeat
  35. 35. PRODUCT DEVELOPMENT•  Don’t focus on backend development•  Focus on what the customer can see and test
  36. 36. PRODUCT DEVELOPMENT•  Prepare yourself for building a bigger team•  Bring in tools to manage and record progress STAY  LEAN   &   STAY  FOCUSSED  ON  YOUR  OBSESSION  
  37. 37. GO TO MARKET STRATEGY•  Launch within the right target group•  Organize a launch event to start building your eco-system•  Build virality into your product from the start•  Don’t spend money on advertising•  Don’t be afraid to take bold decisions
  38. 38. AFTER LAUNCH•  Kill your darlings•  Evolve fast•  Stay lean & stay focussedPull the plug in time whenyou recognize you’ve failed!
  39. 39. “Stay stubborn when it comes to your vision.But listen when users tell you to change.”
  40. 40. King Yiu