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6 Month Startup - Seattle Month 6

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6 Month Startup - Ideation to Revenue. Month 6 Pitches, scaling and turning down.

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6 Month Startup - Seattle Month 6

  1. 1. © DKParker, LLC 2018 Dave Parker @DaveParkerSEA @6MonthStartup www.dkparker.com/blog www.6MonthStartup.com
  2. 2. © DKParker, LLC 2018 Welcome! Month 6
  3. 3. © DKParker, LLC 2018 Introductions
  4. 4. © DKParker, LLC 2018
  5. 5. © DKParker, LLC 2018 The next 6 Months ¤ Ideation/Research - ¤ Customer Development/Competitive analysis ¤ Value Prop/Product/Features/Expense ¤ Revenue - Monetization, Sales, Marketing and Business Development ¤ Marketing/Fundraising Fundamentals ¤ Pitching/Launch/Scaling up or Turning Down
  6. 6. © DKParker, LLC 2018 Agenda ¤ Pitches ¤ 5 Minutes + Feedback and Scoring ¤ Scaling + content ¤ The Diller Room for drinks!
  7. 7. © DKParker, LLC 2018 Pitches
  8. 8. © DKParker, LLC 2018 ¤ 6 Session participants first, followed by five… and so on ¤ 5 Minutes ¤ 5 Minutes Feedback – NOT Q&A ¤ Swap out tech during feedback
  9. 9. © DKParker, LLC 2018 Venture Ready Pitch ¤ Score 1-4 ¤ Team ¤ Idea/Problem ¤ Product ¤ Market/Customer ¤ Competition ¤ Business Model/Finance ¤ Traction ¤ Timing ¤ Intellectual Property/Moat ¤ Bonus: Clear Ask ¤ Where are you weak? Pitch Checklist Post https://wp.me/p3bssR-j0Q Scorecard here https://bit.ly/2RHPr4W
  10. 10. © DKParker, LLC 2018 https://bit.ly/2RHPr4W Score Along with me…
  11. 11. © DKParker, LLC 2018 BREAK
  12. 12. © DKParker, LLC 2018 Launch
  13. 13. © DKParker, LLC 2018 Launch “Nothing happens until someone sells something” unknown ¤ You need to get the product out there ¤ Ask for a commitment ¤ Order ¤ Letter of Intent ¤ Trials ¤ People not Users ¤ Set a deadline for launch – if you’re not embarrassed you’ve waited to long
  14. 14. © DKParker, LLC 2018 Go to Market
  15. 15. © DKParker, LLC 2018 Go to Market ¤ Spend some $$ to determine if you can find customers ¤ A/B Test with a mock up or only a design – don’t wait to test ¤ Have a hypothesis – test until you prove it wrong
  16. 16. © DKParker, LLC 2018 Scaling Up
  17. 17. © DKParker, LLC 2018 Scaling Up/Turning Down ¤ Always have monthly milestones ¤ Users by X ¤ Revenue by X ¤ 30 days without progress is a sign! ¤ Intermediate Goals ¤ e.g. Customer Development Interviews ¤ Set end dates ¤ Achieve X by Y Date or stop ¤ You’re not in control of market timing
  18. 18. © DKParker, LLC 2018 Kill Bad Ideas Fast Don’t Fail Fast
  19. 19. © DKParker, LLC 2018 Your Feedback ¤ Surveys to follow ¤ What was most valuable? ¤ What would you like to see more of? ¤ How can we help keep your cohort together?
  20. 20. © DKParker, LLC 2018 Thank You! Diller Room – 1224 1st Ave
  21. 21. © DKParker, LLC 2018 New Cohort III – January 9, 2019 – Ideation, Research, Markets and Telling Your Story
  22. 22. © DKParker, LLC 2018 Resources ¤ Crunchbase Funded companies, amount, investors. ”Pattern Match” for companies that are similar ¤ Blogs ¤ Tom Tunguz, Redpoint http://tomtunguz.com/ SaaS and MRR ¤ Brad Feld, Foundry Group http://www.feld.com/ ¤ Fred Wilson, Union Square http://avc.com/ ¤ Version One – Marketplace VC Blog, http://versionone.vc/ ¤ Pitch Resources ¤ Startup Weekend ¤ Best Startup Pitch decks ¤ Guy Kawasaki “10 Slides”
  23. 23. © DKParker, LLC 2018 About Dave ¤ 5X founder, Board Member, former SVP Programs at UP Global (Startup Weekend + Startup America) ¤ Startup Next creator ¤ Start Week Organizer ¤ Soon to be Author “6 Month Startup – Ideation to Revenue” ¤ 9 transactions – 6 sell side, 3 buy side ¤ VC @SevenPeaksVC – Mountain West, Seed/A Stage ¤ Why? Looking for future founders to invest in…
  24. 24. © DKParker, LLC 2018
  25. 25. © DKParker, LLC 2018 Monthly Mechanics ¤ Table group review work ¤ Review Deliverables ¤ Prioritize Pitch Decks based on completeness ¤ Mentor Feedback – after pitches ¤ Monthly Content ¤ Meetups are stand alone events – come for what you need, Mentors are based on deliverables, not “drop ins”
  26. 26. © DKParker, LLC 2018 Month 6 Agenda – Deliverables ¤ Month 5 Deliverables - here https://wp.me/P3bssR-iYI (6 Month Startup Deliverables & Resources) page ¤ Marketing ¤ Customer Persona ¤ Building Content ¤ Network of Peer ¤ Fundraising Fundamentals ¤ Prepare your Pitch – Pitch Clinic ¤ Use of Proceeds ¤ Rank your table mates – who gets to pitch first
  27. 27. © DKParker, LLC 2018 Rules of the Road ¤ #GiveFirst ¤ Mentor access is based on your work ¤ Don’t Ramble – I’ll interrupt ¤ Network – you need to build you network for the future starting tonight ¤ No I won’t do the work for you! ¤ Am I checking your homework?

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