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Module 1 slides

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Mod 1

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Module 1 slides

  1. 1. SIF Module 1 Henrik Scheel Founder & CEO Henrik@startupxp.com
  2. 2. How are the SIF unicorns?
  3. 3. Program Objectives The entrepreneurial mindset Social innovation The innovation process (including Design Thinking) The Startup process (including LEAN Startup Method) How Jewish values are linked to social entrepreneurship
  4. 4. Program Objectives The entrepreneurial mindset Social innovation The innovation process (including Design Thinking) The Startup process (including LEAN Startup Method) How Jewish values are linked to social entrepreneurship Big questions Do your customers have the problem you think they have? Do they want your help? Will they pay money for a solution? Can you build a product that solves their problem? Can you scale your business in a profitable way?
  5. 5. Milestones (Sep – Feb) September: Validation of problem hypothesis and customer hypothesis October: Ideation + validation of value proposition and product idea November: MVP testing Dec - Jan: Refining business model, go-to market strategy, prepare pitch February: Deliver pitch and get feedback Feb – May Build company
  6. 6. HOW TO MEASURE PROGRESS?
  7. 7. - Raised $375M in funding at $4.8B valuation - $1B order for warehouses and delivery trucks - Trying to achieve first-mover advantage - Bankrupt in 2001 - Forgot to do customer development
  8. 8. www.startupexperience.com/sif Password: sif2019
  9. 9. Riskiest Assumptions (is there a need?, is there a market gap?, can you make money? Can you )
  10. 10. How to run effective mentoring sessions • Prepare an agenda • Send meeting confirmation and agenda 2 days in advance • Have a meeting facilitator (manage time) • Have a note-taker • Set clear action items, deadlines and task managers
  11. 11. Action Items (to be completed before Oct 6th) Create an online version of your business model using GDocs template Conduct 5-10 customer interviews to validate need + product idea • What is the risky assumption you’re trying to test? (is there a need?, is there a market gap?, what is the context?) • Where will you find your customer? • How will you contact them? • What will you ask during the interview? • Who’s taking notes? Analyze the market for size and competitors (conduct online search to learn about your problem, the context, existing players in the industry) Use insights to come up with a new idea we can test in phase 2.
  12. 12. “Whether you think you can, or you think you can’t - you’re right!” - Henry Ford Henrik Scheel henrik@startupxp.com StartupExperience.com/sif (password: sif2019 Good luck with your entrepreneurial journey! THANKS J

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