2 февраля 2017 года международный стартап CupoNation организовал вебинар "Начни сегодня", спикером которого стал соучредитель компании Андреас Фрус. Мы публикуем материалы спикера с руководством для начинающих предпринимателей. Андреас поделился личным опытом в предпринимательстве, рассказал об особенностях онлайн-рынка и специфике международных стартапов. Из презентации вы узнаете: - Историю компаний CupoNation и Global Savings Group - Как запустить собственный проект: с чего начать, как собрать команду, и выбрать бизнес-модель новой компании - Практические рекомендации по построению международных стартапов - Что можно и что нельзя делать начинающему предпринимателю Запись вебинара доступна по ссылке: www.cuponation.ru/tag/start-up-webinar Если у вас остались вопросы, пишите нам на почту: alina.kamalova@cuponation.ru

1. “Start Now“ -
WEBINAR FOR ASPIRING
ENTREPRENEURS
Dr. Andreas Fruth, Munich, February 2017

2. The typical journey of an (aspiring) entrepreneur
Finding a
profitable
business idea
that you “like”
Launch and
refinement of
business idea
Smart scaling
towards
sustainable user
acquisition and
profitability
“I wish I could
build a strong
(online)
business”
Successful online
business
2

3. Agenda
3
• Introduction to CupoNation and the Global Savings Group
• Lessons Learned from building international startups
• Do’s and Dont’s when starting a company

4. Agenda
4
• Introduction to CupoNation and the Global Savings Group
• Lessons Learned from building international startups
• Do’s and Dont’s when starting a company

5. The founding team and supporters of CupoNation
5
Our supporters
Product Lead, Global CSO
Dr. Andreas Fruth
Marketing Lead, Global CMO
Dr. Adrian Renner
Commercial Lead, Global CFO
Dr. Gerhard Trautmann

6. CupoNation and the Global Savings Group
6

7. Our Mission
7

8. Our business: We connect savvy shoppers to retailers driving new sales and
conversions for more then 20.000 partners worldwide
8
Editorial team
prepares the offers
for the platforms
Traffic generation /
user acquisition
Offer selection on
GSG pages,
direction of users to
partners
Scouting &
sourcing the
best deals
Successful
purchase and
conversion for
advertising
partners

9. Our platforms: We operate different consumer brands to address customer
needs on various stages of their purchasing funnel
9
Two main product lines to address customer needs:
• Retailer discounts / coupons
• Curated product and travel

10. Since we started in 2012, we constantly launched new markets and new
consumer brands – and counting

11. 11
And why this Webinar?

12. Agenda
12
• Introduction to CupoNation and the Global Savings Group
• Lessons Learned from building international startups
• Do’s and Dont’s when starting a company

13. Building a (multinational) company leads you through different phases
13
Bruce Tucker’s framework to illustrate team building – quite applicable for building a global a company
Time
LowPerformanceHigh
STORM
NORM
FORM

14. Form: It all starts with the team – example: CupoNation‘s founders
14
Product Lead, Global CSO
Dr. Andreas FruthDr. Adrian RennerDr. Gerhard Trautmann
5 years management consulting
for the board at Siemens AG
5 years at McKinsey & Company
Interims Managing Director of
Lazada, Vietnam
PhD, Supply Chain Management PhD, Philosophy & Finance PhD, Mechanical Engineering
Commercial Lead, Global CFO Marketing Lead, Global CMO
5 years at McKinsey & Company
Interims Managing Director of
German car parts manufacturer

15. Business Model often comes second
15
Ways of identifying a relevant niche
• Check your own environments / football clubs / hobbies / strengths – what do people want
and what do they think you are good at?
• Learn from others: Check sites like Groupon for potential business ideas
• Look to social media influencers
• Talk to friends, family, your environment – talk, ask, talk, ask, …
• Go to TechCrunch etc
• Connect with “old” or “traditional” industry, ask your friends in those companies what does
not work properly - or in other words: Just listen to people complaining about their job!
Don’t: Put your interests/hobby first; but focus on areas where you are good at and
where you think you can make a difference!

16. http://techcrunch.com/2013/11/02/welcome-to-the-unicorn-club/
Think outside your hometurf or: „We are all consumers, aren‘t we?“
16

17. How does this model solve someone’s problem?
• Digital models – does it have to be? (How to think about barriers of entrance)
• Proof of concept given? (Copycat or innovation)
• Sufficient international market opportunity? (Really?)
• Valuation potential?
• Exit business or family business?
All good questions, but this one should always be in the lead:
Potential ways of thinking about a right business model for your team
17

18. Russia +5,000%
Brazil +3,100%
US +310%
UK +2,400%
Key facts
•In the US roughly 10-15% of all online
sales are influenced by coupons
•In Germany same figure is around are
aound 1-2% only
Ways to understand market opportunity and growth potential –
example CupoNation
18
Development of coupon related searches indicating consumer
interest (indexed)
Index
Germany +870%
France +825%

19. How to finance your company when you start?
19
Incubation
• Large portion or majority of shares
and voting rights with incubator
• Strategical development defined in
cooperation between founders and
incubator
• High speed for implementation and
roll-out through knowledge and
financial head start possible
• Generally exit-driven
Bootstrapping
• Majority of shares and voting rights
with founders
• Strategical development is fully
defined by founders
• Very limited resources before first
round of significant funding
• Can be exit-driven or designed for
long-term ownership of founders
• Initial funding mostly via Business
Angels, family and friends or
Crowdfunding
Corporate incubation
• Majority of shares and voting rights lie
with corporate parent company
• Strategical development mainly
defined by parent company
• Can be slower, as parent companies
in general large scale, less flexible
organisations
• Strategical goal often is a later
incorporation in parental business,
rarely exit driven

20. Lets talk about investors – at the end, does it all boil down to money?
20
Business
Angel
Accelerator
Crowd-
funding
Venture Capital/
Family Offices
Stock
Markets
Incubator
Your
Company
Strategic
Investor
Family and
Friends
Private Equity

21. Why was CupoNation started together with company builder Rocket Internet?
21
+

22. For securing an investment, different factors have to work together
Criteria, often mentioned by investors (not complete):
• A strong management team with a proven track record
• A good business model (e.g. with defensible product, competitive
advantage, unique positioning for making a business successful, …)
• Conviction that company can become relevant player (if not No1) in
business model and/or market segment
• Interesting market opportunity
• Reasonable valuation and cap table
22

23. Form: Personal key findings
23
#1
France
#2
Brazil
#2
➢You need to know your co-founders
➢Really hard to pull this off alone
➢Looking for the perfect idea? Bad idea.

24. Storm: the fun phase - or the time your friends and family really need some
photos of you…
24
… because your family gets someone else
Deep dive founder team
• Entrepreneurial drive and the ability and ambition to
achieve goals in a fast changing environment
• Creativity and problem solving skills (hands-on!)
• (Deep) knowledge of the company sector big plus
• Managerial, structuring and analytical skills
• Ability to set up efficient business processes
Complementary skills within the team a big asset
Core team setup
• Founder team
• Tech/Product team
• Generalists
• (Experts, depending on
model)

25. Sandra Lerner & Len Bosack David Filo & Jerry Yang
Sergey Brin & Larry PageBill Gates & Paul Allen
Steve Jobs & Steve
Wozniak
Cher Wang, HT Cho, Peter Chou
Besides some exceptions – teams win!
25

26. Understand the problem you want to solve and translate it into a user experience

27. Thinking about global expansion is fun – but how to decide where to go?
• Potential market size
• Market readiness for model
• Competition level
• Main barriers of market entrance
• Public statistics (criteria: market size)
• Local market experts (criteria: readiness, barriers)
• Desk research (criteria: competition, all)
• Value benefit matrix
• Sound business thinking
• Or nearly every other scoring model
27
Main criteria
Sources of
information
Methodology

28. Storm: Personal key findings (1/2)
28
#1
France
#2
Brazil
#2
➢You need a core team that believes in your mission
➢Value of Technology: Invest into your IT before the
“storm” comes
➢Have fast & dedicated teams for dedicated topics
➢Complexity can become a killer: keep things simple (as
simple as possible)

29. Storm: Personal key findings (2/2)
29
#1
France
#2
Brazil
#2
➢Build your product with users: stealth mode = failure
mode
➢Year 1: 100% on the product and the user experience
= founder job
➢Learn, iterate and pivot fast until you found the
“basics to be done“

30. Main success factors in recruiting for fast growing startups
• Get the basics right: have a strong HR team and structured
processes
• Think and act globally
• Always recruit Top Talent
• Make sure the „recruiters“ are AAA talent themselves
• Put quality before speed
Norm: Generate HR setup for scale - Deep dive in recruiting
30

31. Source: Football Team Tactics, Severus
Prime
Execution…
31
The „French“ Plan The „German“ Plan
Too many discussions / topics
without results…
…vs. simple, clean focus on big
impact topics
… really is king

32. Norm: Personal key findings
32
#1
France
#2
Brazil
#2
➢Focus: “no“ is your best friend
➢Intensity: work harder than any competitor
➢Automize: Repetitive work done manual is expensive
and shows high error rates

33. Perform: Why the Pareto Principle is the enemy of performance
33
80/20

34. Plan and measure your performance wisely – in few other areas already slight
underperformance can have some drastic consequences
The connection between funding, planning and performance – or how not to wake up running out of cash
34
• Know how you want to use your funding already when starting a funding round
• Start with your company strategy/vision and mid-term goals and milestones
• Plan milestones to be achieved before money is gone again (what do I need to proof/show to secure another round of
funding? Can I get positive cash-flow with current funding?)
• Incorporate funding in your strategic and financial planning to assess company lifetime in different scenarios
• Discuss strategy/funding usage planning with existing shareholders
• Have ongoing controlling of financial and business success implemented and analyse your track constantly
• When going off-track, start and implement countermeasures as soon as possible, DO NOT WAIT too long for reactions

35. Platform
launch
Strong results…
35
Visits BlackFriday
2015

36. BlackFriday
2015
BlackFriday
2016
…only come after you have sucessfully passed some key steps along the journey
36
Visits

37. Perform: Personal key findings
37
#1
France
#2
Brazil
#2
➢Real Performance only comes after (years) of hard work – a
startup is a marathon, not a sprint (still you need to sprint
all the time)
➢Do not let Performance transform your company to being
the incumbent – you want to be the challenger
➢When you have success – PARTY with your team

38. Agenda
38
• Introduction to CupoNation and the Global Savings Group
• Lessons Learned from building international startups
• Do’s and Dont’s when starting a company

39. Reasons for failed startups - selection
• Market was already saturated by
similar products
• Competition was too strong
• Didn’t understand what customers
want
• Didn’t test product before big press
releases
• Things spiralled pretty quickly and
new users heard about the bad
experience from early users
• The lack of a single “the buck stops here”
leader until too late in the game
• No separation between the technology
organisation and the product organisation
• Too much PR, too early
• Too much money
• Not close enough to the customer
• Slow to adapt to market reality
• Disagreement on strategy both within the
company and with the Board
• Too weak of a product for building
sales effort
• Didn’t make eventvue self-serve
• Went after enterprise sales model
• Didn’t focus enough on
discovering how to market
eventvue
• Not hiring talented people (good
candidates)
39

40. • Invest time and brainpower in model and market
opportunities upfront
• Get excellence in your team; motivate it!
• For core functions, get experience in your team
• Always have a close eye on your competition
• Adapt quickly to business realities
• Challenge all
• Always be hands on
• Don‘t expect you understand the pitfalls of the model unless
you have done it
• Don‘t get scattered too much too quickly: Get the basics right
first
• Don‘t believe in „the next thing we do will be the break-through“
– get solid concept to continuously improve on
• Don‘t believe funding stays forever – scaling a startup is a
marathon
• Don‘t take every idea and strategic proposal for granted
Do’s and Dont’s when starting a company
Do’s Dont’s
40

41. Can I today still be successful bootstraping my company?
• Search engine for jobs - aggregates job listings from job boards, newspapers, associations, and company career pages
• Co-founded by Paul Forster and Rony Kahan and launched in November 2004
• Available in 53 countries and 26 languages
• In 2005 launched their beta version of what they refer to as “pay-per-click job advertising network”
• In 2010 surpassed Monster.com and became the most visited job site in the U.S.
• In February 2013 reached over 100 million unique visitors
• Acquired by a japanese company – Recruit Co. Ltd.; estimated price: $1 billion
Other examples
41

42. Your clever place to save.
And now – time for Q&A
Andreas Fruth
Co-Founder Global Savings Group and CupoNation
a.fruth@cuponation.com