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6 Month Startup - Seattle Month 3 Cohort II

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MVPs, Product Features, Value Proposition, Business Model Canvas

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6 Month Startup - Seattle Month 3 Cohort II

  1. 1. Copyright DKParker, LLC 2017 Dave Parker @DaveParkerSEA @6MonthStartup www.dkparker.com/blog www.6MonthStartup.com https://www.slideshare.net/secret/hzC dL3TbZN9D18
  2. 2. Copyright DKParker, LLC 2017 Welcome! Month 3
  3. 3. Copyright DKParker, LLC 2017 Introductions
  4. 4. Copyright DKParker, LLC 2017 Thanks!
  5. 5. Copyright DKParker, LLC 2017 Agenda ¤ Communications ¤ SLACK Channel ¤ Blog Posts ¤ Mentor Feedback on Month 2 Deliverables ¤ Month 3 Agenda ¤ Value Proposition ¤ MVPs ¤ Products/Features ¤ Business Model Canvas ¤ Cost to Build ¤ Month 3 Deliverables & Resources
  6. 6. Copyright DKParker, LLC 2017 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” ¤ 8 transactions – 6 sell side, 2 buy side ¤ VC @SevenPeaksVC – Mountain West, Seed/A Stage ¤ Why? Looking for future founders to invest in…
  7. 7. Copyright DKParker, LLC 2017 The next 6 Months ¤ Ideation/Research - ¤ Customer Development/Competitive analysis ¤ MVPs/Value Prop/Product/Features/Expense ¤ Revenue - Monetization, Sales, Marketing and Business Development ¤ Pitch Prep/Fundraising ¤ Pitches and Scale
  8. 8. Copyright DKParker, LLC 2017 Monthly Mechanics ¤ Table group review work ¤ Mentor Feedback ¤ Monthly Content ¤ Meetups are stand alone events – come for what you need, Mentors are based on deliverables, not “drop ins”
  9. 9. Copyright DKParker, LLC 2017 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, or check your homework?
  10. 10. Copyright DKParker, LLC 2017 How were your Customer Development Interviews?
  11. 11. Copyright DKParker, LLC 2017 Mentor Feedback ¤ Tablemates ¤ Review deliverables ¤ Who goes first? Table Picks ¤ Cluster in team/stage ¤ Teams/Products ¤ Ideas ¤ Hanging out
  12. 12. Copyright DKParker, LLC 2017 Mentor Feedback ¤ Deliverables: ¤ Competitive Landscape document ¤ First 20 Customer Development Interviews ¤ Awkward Co-founder Discussion ¤ What I thought, What I Learned, What I’m going to do about it Hi, I’m <your name here>, and I’m the problem I’m solving is <insert problem here>. Our product <insert product info here> is designed for our target customer of <insert target customer here>. We make money by <insert method here> and our team is the right team because <insert why you’re awesome here>
  13. 13. Copyright DKParker, LLC 2017 Timer – 10 Minutes
  14. 14. Copyright DKParker, LLC 2017 Break
  15. 15. Copyright DKParker, LLC 2017 Now that you’ve have competitive and customer info
  16. 16. Copyright DKParker, LLC 2017 Value Proposition
  17. 17. Copyright DKParker, LLC 2017 Positioning ¤ Positioning is holding a place in your customer’s mind – not as everything, what’s memorable? ¤ Who is the initial customer ¤ Think about limiting service and customer first – before you expand ¤ You’re not precluded from selling other services or products ¤ What claim or promise will you make?
  18. 18. Copyright DKParker, LLC 2017 Exercise ¤ Write out: ¤ What makes you different? ¤ Why should people buy from you? ¤ Write your websites tagline and opening paragraph ¤ What claim/promise will you make ¤ Write your DRAFT Unique Selling Proposition ¤ Compare this to your Pitch
  19. 19. Copyright DKParker, LLC 2017 Product
  20. 20. Copyright DKParker, LLC 2017 Product Vision ¤ Product vision is important ¤ Long term features ¤ Startup with PROBLEM not product – pivot product/ features around the problem ¤ It won’t be what you ship first ¤ What the world looks like before your product ¤ What the world looks like after your product
  21. 21. Copyright DKParker, LLC 2017 Minimum Viable Product (MVP) ¤ Narrow and list features ¤ PowerPoint/Keynote first as your demo ¤ What screens do you need to show (e.g. do you need to really show registration – answer no) ¤ Have them rank the features ¤ Prioritize the build based on the feedback ¤ More Customer Development Interviews!
  22. 22. Copyright DKParker, LLC 2017 Let’s talk MVP What are you thinking of launching? Discussion
  23. 23. Copyright DKParker, LLC 2017 Wireframing ¤ Additional Tools ¤ http://keynotopia.com/guides-ppt protoyping templates for Keynote and PPT ¤ https://www.invisionapp.com/ ¤ http://www.wireframeapp.io/ ¤ Others?
  24. 24. Copyright DKParker, LLC 2017 Business Model Canvas
  25. 25. Copyright DKParker, LLC 2017 Business Model & Lean Canvas ¤ Alexander Osterwalder ¤ LeanStack – Free tool - https://leanstack.com/users/new ¤ Start with Customer Segment ¤ Problem ¤ Value Proposition ¤ Over the next months we’ll get to the other sections ¤ This is the mechanic you’ll use going forward
  26. 26. Copyright DKParker, LLC 2017
  27. 27. Copyright DKParker, LLC 2017 Exercise ¤ Register ¤ Fill in Customer Segments ¤ Problems ¤ Value Proposition
  28. 28. Copyright DKParker, LLC 2017 Cost to Build
  29. 29. Copyright DKParker, LLC 2017 Estimating Costs ¤ Write specification ¤ Required for launch ¤ Design & Flow ¤ Post project on Fiverr.com ¤ PPT/Keynote first with design ¤ Test design and flow ¤ Revise specification
  30. 30. Copyright DKParker, LLC 2017 MVP Mechanics ¤ MVP Series ¤ Blog 1 – Launching a product ¤ Blog 2 – Writing a spec ¤ Blog 3 – picking a vendor ¤ Blog 4 – Contracts, Monitoring Progress ¤ Cost to market and sell – Next Month!
  31. 31. Copyright DKParker, LLC 2017 Next Session – August 8, Making Money/ Revenue Models/ Pricing/ Product Market Fit
  32. 32. Copyright DKParker, LLC 2017 Month 3 Deliverables ¤ Month 3 Deliverables here https://wp.me/P3bssR-iYI (6 Month Startup Deliverables & Resources) page ¤ Value Proposition - write out your current value prop ¤ Product Feature/Benefits - rank, with detailed explanation of the feature ¤ Business Model Canvas - three sections ¤ Cost to Build - on Fiverr first, then iterate ¤ Customer Development Interviews – more!
  33. 33. Copyright DKParker, LLC 2017 Month 3 Resources ¤ Books ¤ Value Proposition Designs ¤ Business Model Generation – Alexander Osterwalder (Business Model Canvas) ¤ Blogs ¤ LeanStack ¤ Wordstream – 7 of the Best Value Propositions
  34. 34. Copyright DKParker, LLC 2017 Enjoy Summer!

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