6 Month Startup Month 3 Cohort III Seattle
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6 Month Startup - Ideation to Revenue. Month thee is on value propositions, MVPs, writing a specification, how to source your MVP, Business Model Canvas.
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6 Month Startup Month 3 Cohort III Seattle
- 3. 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…
- 4. 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
- 7. 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?
- 8. Copyright DKParker, LLC 2017 Agenda ¤ Communications ¤ SLACK Channel ¤ Blog Posts ¤ Mentor Feedback on Month 2 Deliverables ¤ Month 3 Agenda ¤ Value Proposition ¤ MVPs ¤ Products/Features ¤ Cost to Build ¤ Business Model Canvas ¤ Month 3 Deliverables & Resources
- 9. 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”
- 10. Copyright DKParker, LLC 2017 How were your Customer Development Interviews?
- 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. 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 founder of <insert company name> 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> Where I need help.
- 14. Copyright DKParker, LLC 2017 Now that you’ve have competitive and customer info
- 16. 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?
- 17. 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. 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
- 20. 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!
- 21. Copyright DKParker, LLC 2017 Let’s talk MVP What are you thinking of launching? Discussion
- 22. 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/ ¤ Draftium ¤ Others?
- 23. Copyright DKParker, LLC 2017 Cost to Build
- 24. 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!
- 25. Copyright DKParker, LLC 2017 Estimating Costs ¤ Write specification ¤ Required for launch ¤ Design & Flow ¤ PPT/Keynote first with design ¤ Test design and flow ¤ Revise specification
- 26. Copyright DKParker, LLC 2017 Sourcing Vendors/Developers ¤ Post a “One Hour” conference call job ¤ Select three “winners” that will be paid $50/each for participating in the call ¤ Send specification in advance ¤ Have each participant take meeting notes with action items ¤ Open Q&A to define phase one of the project ¤ They need to deliver the notes, phase one scope and pricing to get paid their $50 ¤ Choose one or two of the vendors to execute phase one
- 27. Copyright DKParker, LLC 2017 Business Model Canvas
- 28. 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
- 30. Copyright DKParker, LLC 2017 Exercise ¤ Register - https://leanstack.com/users/new ¤ Fill in Customer Segments ¤ Problems ¤ Value Proposition
- 31. Copyright DKParker, LLC 2017 Next Session – April 10, Making Money/ Revenue Models/ Pricing/ Product Market Fit
- 32. Copyright DKParker, LLC 2017 Month 3 Deliverables ¤ Month 3 Deliverables here (6 Month Startup Deliverables & Resources) page ¤ Value Proposition - write out your current value prop ¤ Product Feature/Benefits - rank, with a detailed explanation of the feature ¤ Business Model Canvas - three sections ¤ Cost to Build - on Fiverr first, then iterate ¤ Customer Development Interviews – more!
- 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