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Copyright
DKParker, LLC
2015
6 Month Startup – Month 1
Dave Parker
@DaveParkerSEA
@6MonthStartup
www.dkparker.com/blog
Copyright
DKParker, LLC
2015
Welcome!
Copyright
DKParker, LLC
2015
Introductions
Copyright
DKParker, LLC
2015
Thanks!
Copyright
DKParker, LLC
2015
Agenda
¤ About Dave
¤ The next 6 months – what to expect
¤ Mechanics
¤ Workshop
Copyright
DKParker, LLC
2015
About Dave
¤ 5X founder, Board Member, former SVP Programs at UP
Global (Startup Weekend + St...
Copyright
DKParker, LLC
2015
The next 6 Months
¤ Ideation/Research - tonight
¤ Customer Development/Competitive analysis
¤...
Copyright
DKParker, LLC
2015
Monthly Mechanics
¤ Training material – during dinner
¤ Workshop as small groups
¤ Pitches
¤ ...
Copyright
DKParker, LLC
2015
Rules of the Road
¤ #GiveFirst
¤ Don’t Ramble – I’ll interrupt
¤ Network – you need to build ...
Copyright
DKParker, LLC
2015
Hard Problems – start at the base
Copyright
DKParker, LLC
2015
Hard Problems – start at the base
Copyright
DKParker, LLC
2015
Overview
¤ @6MonthStartup is designed to get you out of your head
and get you to revenue in s...
Copyright
DKParker, LLC
2015
A Note on Fundraising
¤ Your need for capital does not equal your ability to raise
capital!
¤...
Copyright
DKParker, LLC
2015
Factors in Fundraising
1. Team
2. Idea
3. Market
4. Traction
5. Timing
6. Business Model
7. D...
Copyright
DKParker, LLC
2015
Month 1
Copyright
DKParker, LLC
2015
Month 1
¤ Why?
¤ Ideation
¤ What are you selling
¤ Target Market
¤ Research
¤ Pitching
Copyright
DKParker, LLC
2015
Starting with Why!
¤ Doing a startup is difficult, odds of failure are high
¤ Shackleton grap...
Copyright
DKParker, LLC
2015
Passion is important – but not
sufficient
Copyright
DKParker, LLC
2015
Why are you doing this?
Copyright
DKParker, LLC
2015
Questions?
Take 5 minutes now and write
down some reasons
Copyright
DKParker, LLC
2015
Why Startups Fail
Copyright
DKParker, LLC
2015
Ideation – Vectors of Idea
¤ What is a Vector
¤ Direction
¤ Magnitude
¤ Type of Vectors (not ...
Copyright
DKParker, LLC
2015
Surfing Analogy
¤ The Wave
¤ The Board
¤ The Surfer
¤ The Trend
¤ The Product
¤ The Leader/Te...
Copyright
DKParker, LLC
2015
What problem/opportunity
¤ What’s the problem
¤ Pain Pill
¤ Vitamin
¤ What’s the opportunity
...
Copyright
DKParker, LLC
2015
Should you build it?
Copyright
DKParker, LLC
2015
And than there’s this one
Copyright
DKParker, LLC
2015
BREAK!
Copyright
DKParker, LLC
2015
Questions?
Take 10 Minutes now and list your
Ideas as Problem & Solutions
Copyright
DKParker, LLC
2015
Launch & Survive
Copyright
DKParker, LLC
2015
Product & Companies
¤ Products aren’t fundable – Companies are fundable
¤ Lifestyle businesse...
Copyright
DKParker, LLC
2015
Product Service
B2B Salesforce Consulting
B2C Games For profit
school
Copyright
DKParker, LLC
2015
Who is your customer?
¤ Product vs. Services
¤ Product is something you can deliver or ship –...
Copyright
DKParker, LLC
2015
Why/How do they buy?
¤ Make Money vs. Save Money?
¤ Searching for product
¤ Needs to be sold
...
Copyright
DKParker, LLC
2015
Market Conditions
¤ Nascent market
¤ Large markets - >$100M or $1B
¤ Large market provide “at...
Copyright
DKParker, LLC
2015
Who is the Market & Customer
Copyright
DKParker, LLC
2015
Who is the Market & Customer
Copyright
DKParker, LLC
2015
Questions?
Who Target Customer?
How big is the market?
How can you find out?
Copyright
DKParker, LLC
2015
Break into teams of 4 – 25 min
Discuss where to source the info
Copyright
DKParker, LLC
2015
Research
¤ You are not the customer
¤ Methods of Research
¤ Blue Ocean
¤ Gartner Magic Quadra...
Copyright
DKParker, LLC
2015
Pattern Matching
¤ Stage
¤ Customer Type
¤ Categories
Copyright
DKParker, LLC
2015
Who has tried this before?
¤ What about Analyst report?
¤ Why did they fail?
¤ Use Wayback Ma...
Copyright
DKParker, LLC
2015
No Competition – really?
Copyright
DKParker, LLC
2015
A Note Regarding Biases
Copyright
DKParker, LLC
2015
Questions?
Break into same groups and
brainstorm where to find data for
your research
Copyright
DKParker, LLC
2015
BREAK!
Copyright
DKParker, LLC
2015
Pitching your Idea
¤ Clearly communicating your idea is critical for recruiting
a co-founder ...
Copyright
DKParker, LLC
2015
Copyright
DKParker, LLC
2015
Madlips Pitch
© 2017 DKParker, LLC www.DKParker.com
What Oppty/Problem:
How?
Solving for who?...
Copyright
DKParker, LLC
2015
Break into teams of 2 – 20 min.
Write and practice your pitch
Copyright
DKParker, LLC
2015
Madlibs Pitch
Hi, I’m <your name here>, and I’m the problem I’m solving is
<insert problem he...
Copyright
DKParker, LLC
2015
Pitches
Copyright
DKParker, LLC
2015
Questions
Copyright
DKParker, LLC
2015
Next Session – November 8
Customer Development &
Competitive Analysis
Copyright
DKParker, LLC
2015
Copyright
DKParker, LLC
2015
Month 1 Resources
¤ Books
¤ Creative Confidence – Tom Kelley & David Kelley
¤ Crossing the Ch...
Copyright
DKParker, LLC
2015
¤ Pitch Resources
¤ Startup Weekend
¤ Best Startup Pitch decks
¤ Guy Kawasaki “10 Slides”
Copyright
DKParker, LLC
2015
Judging a Startup – Bill Gross
Copyright
DKParker, LLC
2015
Month 1 Exercises
¤ Exercises during the session
¤ Simple Pitch Practice
¤ Problem – what pro...
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"6 Month Startup" Month 1 Presentation

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Dave Parker's 6MonthStartup - Perkins Coie, 10/18/2017. Seattle, WA

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"6 Month Startup" Month 1 Presentation

  1. 1. Copyright DKParker, LLC 2015 6 Month Startup – Month 1 Dave Parker @DaveParkerSEA @6MonthStartup www.dkparker.com/blog
  2. 2. Copyright DKParker, LLC 2015 Welcome!
  3. 3. Copyright DKParker, LLC 2015 Introductions
  4. 4. Copyright DKParker, LLC 2015 Thanks!
  5. 5. Copyright DKParker, LLC 2015 Agenda ¤ About Dave ¤ The next 6 months – what to expect ¤ Mechanics ¤ Workshop
  6. 6. Copyright DKParker, LLC 2015 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…
  7. 7. Copyright DKParker, LLC 2015 The next 6 Months ¤ Ideation/Research - tonight ¤ Customer Development/Competitive analysis ¤ Value Prop/Product/Features/Expense ¤ Revenue - Monetization, Sales, Marketing and Business Development ¤ Product/MVP/Product Market Fit ¤ Launch/Go to Market/Revenue
  8. 8. Copyright DKParker, LLC 2015 Monthly Mechanics ¤ Training material – during dinner ¤ Workshop as small groups ¤ Pitches ¤ 1:Many Meeting with Mentors – starting next month ¤ Homework ¤ Meetups are stand alone events – come for what you need, Mentors are based on homework, not “drop ins”
  9. 9. Copyright DKParker, LLC 2015 Rules of the Road ¤ #GiveFirst ¤ 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! ¤ Mentor access is based on your work ¤ Am I checking your homework?
  10. 10. Copyright DKParker, LLC 2015 Hard Problems – start at the base
  11. 11. Copyright DKParker, LLC 2015 Hard Problems – start at the base
  12. 12. Copyright DKParker, LLC 2015 Overview ¤ @6MonthStartup is designed to get you out of your head and get you to revenue in six months ¤ Not all ideas can be accomplished in this time – e.g. some will require FDA approval, others longer build cycles. But you’ll be surprised how far you can get in six months ¤ Can you go faster? Of course, but not all customers will be available on your timeline ¤ The next six months is about preparing you and your idea to prove it’s worth your time
  13. 13. Copyright DKParker, LLC 2015 A Note on Fundraising ¤ Your need for capital does not equal your ability to raise capital! ¤ Need to prove your idea prior to raising $ ¤ Can’t raise on a napkin or Idea (FFF) ¤ More traction means you’ll sell less of your company
  14. 14. Copyright DKParker, LLC 2015 Factors in Fundraising 1. Team 2. Idea 3. Market 4. Traction 5. Timing 6. Business Model 7. Defensible IP Know where you’re week and need to improve. Self awareness matters!
  15. 15. Copyright DKParker, LLC 2015 Month 1
  16. 16. Copyright DKParker, LLC 2015 Month 1 ¤ Why? ¤ Ideation ¤ What are you selling ¤ Target Market ¤ Research ¤ Pitching
  17. 17. Copyright DKParker, LLC 2015 Starting with Why! ¤ Doing a startup is difficult, odds of failure are high ¤ Shackleton graphic ¤ Simon Sinek Video ¤ About the $$ ¤ Changing the world ¤ Solving a problem ¤ Big or little ¤ Expensive or cheap ¤ A lot of solutions or not many ¤ Unique Intellectual Property – or not
  18. 18. Copyright DKParker, LLC 2015 Passion is important – but not sufficient
  19. 19. Copyright DKParker, LLC 2015 Why are you doing this?
  20. 20. Copyright DKParker, LLC 2015 Questions? Take 5 minutes now and write down some reasons
  21. 21. Copyright DKParker, LLC 2015 Why Startups Fail
  22. 22. Copyright DKParker, LLC 2015 Ideation – Vectors of Idea ¤ What is a Vector ¤ Direction ¤ Magnitude ¤ Type of Vectors (not all inclusive) ¤ Power to the People ¤ Latent Need ¤ Frustration ¤ Market or Industry Trend – when the internet launched, when Bitcoin launched, space travel ¤ Does the vector get you where you want to go?
  23. 23. Copyright DKParker, LLC 2015 Surfing Analogy ¤ The Wave ¤ The Board ¤ The Surfer ¤ The Trend ¤ The Product ¤ The Leader/Team Market timing = bad waves Small waves are bad Bad product Wrong person/team for the market Are all three lined up for you?
  24. 24. Copyright DKParker, LLC 2015 What problem/opportunity ¤ What’s the problem ¤ Pain Pill ¤ Vitamin ¤ What’s the opportunity ¤ Solving for who? ¤ Can you create and capture value? ¤ Who will pay?
  25. 25. Copyright DKParker, LLC 2015 Should you build it?
  26. 26. Copyright DKParker, LLC 2015 And than there’s this one
  27. 27. Copyright DKParker, LLC 2015 BREAK!
  28. 28. Copyright DKParker, LLC 2015 Questions? Take 10 Minutes now and list your Ideas as Problem & Solutions
  29. 29. Copyright DKParker, LLC 2015 Launch & Survive
  30. 30. Copyright DKParker, LLC 2015 Product & Companies ¤ Products aren’t fundable – Companies are fundable ¤ Lifestyle businesses – won’t funded ¤ Local vs. Scalable businesses Which one will you be? ¤ Services vs Product ¤ Exit multiples
  31. 31. Copyright DKParker, LLC 2015 Product Service B2B Salesforce Consulting B2C Games For profit school
  32. 32. Copyright DKParker, LLC 2015 Who is your customer? ¤ Product vs. Services ¤ Product is something you can deliver or ship – can you make $$ while you sleep ¤ Services require people to deliver on the value and promise – consulting or a restaurant ¤ Who pays the bill? ¤ A business ¤ The Consumer ¤ The product user and who pays can be different as in Facebook or Google that make money on advertising
  33. 33. Copyright DKParker, LLC 2015 Why/How do they buy? ¤ Make Money vs. Save Money? ¤ Searching for product ¤ Needs to be sold ¤ More on this in Month 4
  34. 34. Copyright DKParker, LLC 2015 Market Conditions ¤ Nascent market ¤ Large markets - >$100M or $1B ¤ Large market provide “at bat” opportunities ¤ Small markets suck ¤ Headwinds or tailwinds?
  35. 35. Copyright DKParker, LLC 2015 Who is the Market & Customer
  36. 36. Copyright DKParker, LLC 2015 Who is the Market & Customer
  37. 37. Copyright DKParker, LLC 2015 Questions? Who Target Customer? How big is the market? How can you find out?
  38. 38. Copyright DKParker, LLC 2015 Break into teams of 4 – 25 min Discuss where to source the info
  39. 39. Copyright DKParker, LLC 2015 Research ¤ You are not the customer ¤ Methods of Research ¤ Blue Ocean ¤ Gartner Magic Quadrant ¤ Documentation and Analysis ¤ Google Search – what are the keywords someone would type to find your solution ¤ Crunchbase Search – funding, timing, categories ¤ Competitive Product/Service pricing
  40. 40. Copyright DKParker, LLC 2015 Pattern Matching ¤ Stage ¤ Customer Type ¤ Categories
  41. 41. Copyright DKParker, LLC 2015 Who has tried this before? ¤ What about Analyst report? ¤ Why did they fail? ¤ Use Wayback Machine to look back
  42. 42. Copyright DKParker, LLC 2015 No Competition – really?
  43. 43. Copyright DKParker, LLC 2015 A Note Regarding Biases
  44. 44. Copyright DKParker, LLC 2015 Questions? Break into same groups and brainstorm where to find data for your research
  45. 45. Copyright DKParker, LLC 2015 BREAK!
  46. 46. Copyright DKParker, LLC 2015 Pitching your Idea ¤ Clearly communicating your idea is critical for recruiting a co-founder and capital ¤ Starting strong ¤ What questions do you want the audience to ask when you’re through? ¤ Can I invest ¤ Can I help ¤ WTF?
  47. 47. Copyright DKParker, LLC 2015
  48. 48. Copyright DKParker, LLC 2015 Madlips Pitch © 2017 DKParker, LLC www.DKParker.com What Oppty/Problem: How? Solving for who? Economics Why you? (a defined problem) (product or service) (a target audience) (make $ how) (team)
  49. 49. Copyright DKParker, LLC 2015 Break into teams of 2 – 20 min. Write and practice your pitch
  50. 50. Copyright DKParker, LLC 2015 Madlibs Pitch 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>
  51. 51. Copyright DKParker, LLC 2015 Pitches
  52. 52. Copyright DKParker, LLC 2015 Questions
  53. 53. Copyright DKParker, LLC 2015 Next Session – November 8 Customer Development & Competitive Analysis
  54. 54. Copyright DKParker, LLC 2015
  55. 55. Copyright DKParker, LLC 2015 Month 1 Resources ¤ Books ¤ Creative Confidence – Tom Kelley & David Kelley ¤ Crossing the Chasm – Geoffrey Moore ¤ Four Steps of an Epiphany – Steve Blank ¤ A Curious Mind – Brian Grazer and Charles Fishman ¤ Industries of the Future – Alec Ross ¤ Blog ¤ Tom Tunguz, Redpoint http://tomtunguz.com/ SaaS and MRR ¤ Brad Feld, Foundry Group http://www.feld.com/ ¤ Fred Wilson, Union Square http://avc.com/
  56. 56. Copyright DKParker, LLC 2015 ¤ Pitch Resources ¤ Startup Weekend ¤ Best Startup Pitch decks ¤ Guy Kawasaki “10 Slides”
  57. 57. Copyright DKParker, LLC 2015 Judging a Startup – Bill Gross
  58. 58. Copyright DKParker, LLC 2015 Month 1 Exercises ¤ Exercises during the session ¤ Simple Pitch Practice ¤ Problem – what problem are you solving for who ¤ Solution – what is unique to your solution or Secret Sauce? ¤ Team – who is involved and why will you win? ¤ Economics – how will you make money? ¤ Pitch Clinic ¤ If you haven’t chosen an idea, talk about the theme or the market ¤ Everyone Pitches ¤ Communicating your idea, getting customers and a co- founder

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