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CTO School Melbourne 2017 - Getting Started at a Startup
The document outlines key decision-making strategies for startups, emphasizing the importance of making decisions with limited information and prioritizing speed. It discusses essential steps for launching products, including defining tasks, pricing, supply chain management, and analytics. Furthermore, it highlights the necessity of fostering a culture of rapid decision-making and alignment on architectural choices to achieve long-term goals.
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CTO School Melbourne 2017 - Getting Started at a Startup
- 1. Gettingstarted ataStartup #nishmahanty YOW! CTO SchoolMelbourne 2017
- 2. © Netget Limited| Slide 2
- 3. Commercial-in-confidence | ©Netget Limited | Slide 3http://www.rednewswire.com/wp-content/uploads/2015/10/Relationship-With-Startups.jpg
- 4. Commercial-in-confidence | ©Netget Limited | Slide 4
- 5. Commercial-in-confidence | ©Netget Limited | Slide 5 "Decisions should be made with about 70 percent of the information you wish you had. Wait for 90 percent and you're too slow.” Jeff Bezos
- 6. Trade-Off Graph Commercial-in-confidence |© Netget Limited | Slide 6 Dimension 2 Dimension1
- 7. Commercial-in-confidence | ©Netget Limited | Slide 7 1: What do we need for Launch? 2: How do we go faster? 3: What is the ”right Architecture?” 4: How do we make decisions when we have insufficient data? Key Decisions
- 8. Commercial-in-confidence | ©Netget Limited | Slide 8 Decision 1: What do we need for Launch?
- 9. Defining “Jobs tobe Done” Commercial-in-confidence | © Netget Limited | Slide 9 3. Range products 4. Set pricing & promotions 5. Receive retailer orders 6. Aggregate demand & order from supplier 7. Receive stock 8. Temporarily store items 9. Pick orders 10. Deliver to store 11. Invoice retailer & receive payments 12.Processsupplierinvoice &makepayments 13. Provide service, process claims & recalls 14. Analytics, business optimisation & insights “Setup” “Transact” “Money” “Insight” 1. On-board suppliers 2. On-board retailers
- 10. Commercial-in-confidence | ©Netget Limited | Slide 10
- 11. Suppliers, Retailers, Network& Operations Commercial-in-confidence | © Netget Limited | Slide 11 3. Range products 4. Set pricing & promotions 5. Receive retailer orders 6. Aggregate demand & order from supplier 7. Receive stock 8. Temporarily store items 9. Pick orders 10. Deliver to store 11. Invoice retailer & receive payments 12.Processsupplierinvoice &makepayments 13. Provide service, process claims & recalls 14. Analytics, business optimisation & insights “Setup” “Transact” “Money” “Insight” 1. On-board suppliers 2. On-board retailers
- 12. You Ain’t Going ToNeed It! Commercial-in-confidence | © Netget Limited | Slide 12
- 13. Commercial-in-confidence | ©Netget Limited | Slide 13 Told you so!
- 14. Decision 2: Gofaster Commercial-in-confidence | © Netget Limited | Slide 14 Decision 2: How do we go faster?
- 15. Commercial-in-confidence | ©Netget Limited | Slide 15
- 16. Commercial-in-confidence | ©Netget Limited | Slide 16
- 17. Commercial-in-confidence | ©Netget Limited | Slide 17
- 18. Commercial-in-confidence | ©Netget Limited | Slide 18
- 19. Decision 3: AgreeDesigns Commercial-in-confidence | © Netget Limited | Slide 19 Decision 3: What is the ”right Architecture”
- 20. Architecture Council Commercial-in-confidence |© Netget Limited | Slide 20 The aim of this regular session is to discuss, debate, knowledge-share, and agree on architecture and solution designs. Usually the presentation is trying to do one of three things: 1: Inform, 2: get Endorsement/Approval 3: ask for Feedback/Advice
- 21. General Principles not Prescriptive Rules Commercial-in-confidence| © Netget Limited | Slide 21
- 22. Decision 4: Learnto decide Commercial-in-confidence | © Netget Limited | Slide 22 Decision 4: How do we make decisions when we have insufficient data?
- 23. Commercial-in-confidence | ©Netget Limited | Slide 23 Thisisthelofty, futuristicgoal for whereyour company or division isheading. Think long term. Product Strategy Canvas VISION In will be time frame Company, division Vision statement CHALLENGE TARGETCONDITION CURRENTSTATE Thefirst big goal to tackleon your way to thevision. Think in termsof user journeys, ideal states, objectivesand KPIsthat relateto theproduct lifecycle. In order to reach our vision, we need to by . measureable objective time frame In order to reach our Challenge, we first need to measureable objective Thisisa smaller, measurableobjectivethat teamscan start exploring today. What’sthestatustoday asit relatesto thetarget condition? After measuring, we know our current state is measurementsof current state
- 24. What we’ve doneis build a culture of rapid decision making. Commercial-in-confidence | © Netget Limited | Slide 24
- 25. Take away Commercial-in-confidence |© Netget Limited | Slide 25 Agree what sort of culture you need to succeed, and build it with intent
- 26. Secret Successful StartupSalute Commercial-in-confidence | © Netget Limited | Slide 26
- 27. Trade-Off Graph Commercial-in-confidence |© Netget Limited | Slide 27 Dimension 2 Dimension1
- 28. Trade-Off Graph Commercial-in-confidence |© Netget Limited | Slide 28 Dimension2 Dimension1
- 29. Trade-Off Graph Commercial-in-confidence |© Netget Limited | Slide 29 Dimension2 Dimension1
- 30. Thank you Commercial-in-confidence |© Netget Limited | Slide 30 Thank you
- 31. We’re hiring Commercial-in-confidence |© Netget Limited | Slide 31
- 32. Especially if you’rea Front End Lead Commercial-in-confidence | © Netget Limited | Slide 32
Editor's Notes
- #2 Who here works at a startup? Who here wants to? Its a lot of fun. I love coming to work every day. I’d like to share my experiences over the last 18 months at irexchange and give you some insight into some of the practices and processes and activities that have helped us along our journey. Hopefully you will get some ideas that you can apply in your current or future startup
- #3 I am HOD at irexchange. We are a technology startup with a unique supply chain offering. Our mission is to enable independent retailers and suppliers to grow and prosper, by giving them access to a wider of range of reasonably priced goods, and by reducing the costs of delivery through the logistics network. Irexchange was started over 2 years ago. We started trading in November last year, and in April we launched a new B2B Trading Platform that allowed Suppliers and Retailers to transact transparently with no traditional middleman/wholsealer in the middle. As well we launched a new fulfillment engine that allows us to move physical goods through the logistics network, efficiently and cheaply. Unerpinning these was a BI Analytics platform that enabled our retail and supplier customers to get better insights into their businesses. To date we have raised over $25M in investment capital and we have signed up over 350 customers into our network. It is a good news story and I am proud to have been part of it.
- #4 I love working at a startup. I like the great sense of purpose – we are helping the small independent companies grow and prosper and better compete against that larger giants in the sector (Coles, Woolies, Aldi, Costco, Amazon Retail) I like the fact that I have a voice – I contribute to strategy, and planning and I know that my suggestions will be heard. And l like the pace – we make decisions quickly and move fast. No 40 page Solution Design Specs that need to be written in triplicate, and which take months to be approved.
- #5 It can also be quite stressful working at startup You have a limited runway of cash and you are burning through it every day You need to get to cash-flow positive before the investment capital is gone. The drive to quickly deliver value and generate revenue hangs over every decision that you make. I think startups have two unique challenges. How do you make fast decisions and minimise mistakes – because two many bad decisions coupled with the limited runway means that you aren’t likely to make it to profitability And related – how do you ensure that everyone in your teams can make consistent aligned fast decisions
- #6 Heres a quote from another startup founder. Its very true – if you wait until you have all the information its too late. And the situation has likely changed from when you started – so your decision may no longer be relevant. But if you are making decisions early with minimal information, you are likely to get some wrong. In that you don’t realise the value that you expected from the decision. How do you choose to deal with mistakes – do you fall back into a blame culture or do you treat them as a learning opportunity. Okay this happened – what have we learnt – what will we do differently. How do you monitor the the progress on decisions – can you put in place mechanisms for recognising when decisions are going awry and course correct early whilst you can. At irexchange we have focussed on making sure that everyone knows how to make fast decisions and that they have the autonomy and support to make good decisions in within their context. I think the ability of the team to make good aligned fast decisions has been one of the main contributing factors to our success. Now let me give you a couple of examples of what we did.