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002 customer & market research
1. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | what is?
Market research
2. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Market research
•TAM, SAM, TM
•Competitor analysis
3. ‘Running a startup is like being punched in the face repeatedly, but working for a large company is like being
waterboarded.’
Paul Graham. Co-Founder, Y Combinator
Launch48 | TAM
Total
Addressable
Market
Served
available
market
Target
market
4. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Market research How do I find this?
5. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Competition
Competition
6. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Competition
•An understanding of the number of competitors.
•Competitor strengths & weaknesses.
•Business models & pricing.
•Marketing strategies.
•Prove or disprove your unique selling points.
7. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Feature analysis
Your product Compet 1 Compet 2
Feature 1 Yes Yes Yes
Feature 2 No Yes No
Feature 3 Yes Yes No
Feature 4 Unlimited 10 users 2 Users
Feature 5 $9.99 $14.99 $3.99
8. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Key metrics
•Revenue & profit
•Active users per month
•Unique visitors
•Investment raised
•Customers acquired (paid for)
•Average customer retention period
•Lifetime value of a customer
•Cost per acquisition
•Social media following
9. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Detailed Analysis
Frooly.com is very similar to Company X, but Frroly charges a monthly fee to
store owners. Here is some detailed analysis on their progress to date:
• Launched August 2010
•1300 products
•300 stores active
•Average of 26 products per store
•Revenue £1,800 per month (based on £6 per store * 300 active stores)
•Growth of 31 stores per month
10. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Indirect competition
Indirect competition
11. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Detailed Analysis
Barriers to Entry
12. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Market research How do I find this?
13. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Find this
Web traffic analysis trends.google.com/websites
Web Traffic analysis www.alexa.com
Company structure & revenues www.duedil.com
Twitter follower comparisons followerwonk.com/compare/
Competitor search www.crunchbase.com
Patent & TM search www.ipo.gov.uk/
See who works for them linkedin.com
14. ‘If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.’
Chris Dixon. Co-Founder, Hunch
Launch48 LaunchPad | Week 2
Questions?
15. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | Agenda
Customer research
16. Launch48 | Build measure learn
‘When people are placed in positions slightly above what they expect, they are apt to excel.’
Richard Branson. Chairman, Virgin Group
17. ‘Markets come and go. Good businesses don’t.’
Fred Wilson. Co-Founder, Union Square Ventures
Launch48 | Idea
18. ‘If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.’
Chris Dixon. Co-Founder, Hunch
Launch48 LaunchPad | Week 2
MVP
19. ‘Don’t be cocky. Don’t be flashy. There’s always someone better than you.’
Tony Hseih. Co-Founder, Zappos
Launch48 | MVP Tools
•Launchrock.co
•Trigger.io
•Phonegap
•App Cooker (drag and drop app building)
•Twitter Bootstrap
•Mailchimp
20. ‘Markets come and go. Good businesses don’t.’
Fred Wilson. Co-Founder, Union Square Ventures
Launch48 | Measure
21. ‘If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.’
Chris Dixon. Co-Founder, Hunch
Launch48 LaunchPad | Week 2
Measure
22. ‘If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.’
Chris Dixon. Co-Founder, Hunch
Launch48 LaunchPad | Week 2
23. Business Model Canvas | Customer segments
‘You need to be surrounded by good advisors but you also have to trust your instinct.’
Chris Hughes. Co-Founder, Facebook
• Age: 26
• Profession: PR
• Marital status: engaged
Spends her time:
• Work: 40 hours per week.
• Leisure:
•Tennis: 2 hours per week.
• Pub: 3 hours at the weekend with friends.
Online time:
• Email: mainly work - 300 emails per week.
• Social:
•Facebook: mobile
• Pinterest: Fashion bloggers
•Twitter: only for work.
24. ‘If you aren’t getting rejected on a daily basis, your goals aren’t ambitious enough.’
Chris Dixon. Co-Founder, Hunch
Launch48 LaunchPad | Week 2
Questions?
25. ‘The lean startup method is not about cost, it is about speed.’
Eric Ries. Blogger
Launch48 | Group work
Plan out you first feedback loop
(30 mins)
26. ‘Don’t let people tell you your ideas are stupid - if you’re really passionate about something, find a way to build it.’
Dennis Crowley. Co-Founder, Foursquare
Danke.Grazie.Shukran.
Merci.Takk.Xie xie.Toda.
Thanks.
@launch48
Choose your journey.
Fin | End