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Gilman class 2 2018

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Gilman class 2

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Gilman class 2 2018

  1. 1. Henrik Scheel Founder & CEO henrik@startupxp.com Test it before you build it! How to run effective experiments..
  2. 2. STATUS PRESENTATIONS
  3. 3. Homework from last session: Get ready to present your updated Startup Canvas Focus on: • Problem description • Market segmentation (WHO, WHY, HOW) • Competitor analysis (existing solutions and why they suck) • Insights from first customer interviews Present your next experiment • What’s next for your team?
  4. 4. Deliverables Create Google Drive folder and create the following sub folders: 1. Business Model (Startup Canvas versions) 2. Mentoring Sessions (meeting minutes incl. agenda and outcome from each meeting) 3. Customer Interviews (meeting minutes for every interview including assumptions you wanted to test, interview questions and key insights from the interview) 4. Learning Journey document (Stating your assumptions, your experiments, what you learned and how you took action based on your insights.) Invite theecovator@gmail.com to view the folder. *please add name of author to each document
  5. 5. MARKET RISK VS TECHNOLOGY RISK
  6. 6. HOW TO MEASURE PROGRESS?
  7. 7. YES…. I made a Mistake!!
  8. 8. MVP = Minimum Viable Product
  9. 9. Testing Product-Market-Fit Interview Pre-sell Simulation
  10. 10. The Art of Interviewing Problem Interview - Learn about the early adopter’s problems - Get as many insights as possible - Don’t talk about your solution
  11. 11. The Art of Interviewing Solution interview - Not a pitch to sell your product – focus on learning - Confirm the MUST-HAVE PROBLEM - Use a Demo to test if your solution is what the user wants - Test pricing
  12. 12. Testing Product-Market-Fit Interview Pre-sell Simulation
  13. 13. Don’t get stuck building something no one wants to use!
  14. 14. $630,862 $467,167
  15. 15. Testing Product-Market-Fit Interview Pre-sell Simulation
  16. 16. Fake it until you make it… Customers believe they are experiencing the actual product, but in reality the work behind the scenes is being done manually.
  17. 17. Tasks • Update your Startup canvas business model + upload to Drive • Describe your market (specific segment + size + competition) • List the riskiest assumptions for your business and develop a plan for testing these over the coming weeks • Run the first round of interviews 10-15 to validate problem hypothesis + customer hypothesis.
  18. 18. “Whether you think you can, or you think you can’t - you’re right!” Henry Ford Henrik Scheel henrik@startupxp.com www.linkedin.com/in/henrikscheel Facebook.com/startupexperience Good luck with your entrepreneurial journey!

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