MIT 15.S56 (in)Validating Your Startup Ideas - Day 3
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This document summarizes the key points from a day 3 workshop on validating startup ideas. It outlines the agenda for the day which includes presentations on validating ideas, awards for the best/worst ideas and tests, and an overview of common testing methods. Attendees are instructed to prepare a 2-3 minute presentation on one of their ideas for Friday including the positioning statement, key performance indicators for validating the idea, details of a test conducted, and the results. The document concludes by recommending relevant classes and books to help participants continue learning about validating and testing startup ideas.
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MIT 15.S56 (in)Validating Your Startup Ideas - Day 3
- 1. 15.S56: (in)Validating Your Startup Ideas IAP 2013 Day 3
- 2. welcome
- 3. What's ahead ● Monday: From bad ideas to good ideas ● Wednesday: Dig deeper ● Friday: Showtime! (short presentations)
- 4. Overview of Today ● Housecleaning Goal: Everyone can operate independently ● Presentations Key Points ● Awards 1. Apply principles ● Take-aways 2. Learn from each other 3. Go forth. ● Next Steps
- 5. Housecleaning Recap ● (in)Validating ● Traps ● Opportunity Cost of your precious time ● Positioning Statement ● Testable Hypotheses & KPI's ● Ideas that should have known better ● Testing methods Lunchtime: Sign in, Add / Drop forms
- 6. Homework for Friday Short Presentation for one idea ○ Idea ○ Positioning Statement ○ KPI for (in)Validating ○ Test ○ Result
- 7. How this works 1. Presentation: 2-3 mins, on the clock 1. Group Feedback: 5 mins 2. Rinse & repeat until everyone has gone Awards ● Least worst idea ● Most dodgy test ● Most ambitious
- 9. lunch
- 10. What did we learn?
- 11. Testing methods ○ Observation ○ Online ads: AdWords / Facebook / Twitter ○ Survey ○ Prototype ○ Market research ○ Focus groups ○ Fake site / app: unbounce.com ○ Crowdfunding: Kickstarter, etc.
- 12. Take some classes... ● IAP ● Founder's Journey ● Ent. Product Development & Mkting ● New Enterprises ● Advanced On Campus ○ Energy Ventures ● StartLabs ○ Healthcare Ventures ○ Media Lab Ventures ● 100k ○ Devel. Ventures ● Beehive ○ Linked Data ● Martin Trust Ctr. Venturesl
- 13. Books ● Black Swan ○ Nassim Taleb ● Lean Startup ○ Eric Ries ● Running Lean ○ Ash Maurya ● Business Model Generation ○ Alex Osterweilder ● Four Steps to the Epiphany ○ Steve Blank
- 14. FIN. Many thanks for a great week, Colin and Will