EIA2019Italy - How to Succeed at EIA - Rick Rasmussen
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Rick Rasmussen - Industry Fellow at UC Berkeley
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EIA2019Italy - How to Succeed at EIA - Rick Rasmussen
- 1. How to Succeed at EIA Team, Team, Team...!!! © Rick Rasmussen 2019
- 2. Team Formation at EIA Different Competencies Different Universities Gender Diversity A complete team..!
- 4. Customer Development Philosophy Customers come first – they’re the life blood of any company Get out of the building..! Four Steps describes the theory Lean Startup is the practice Build, Measure, Learn
- 5. the Customer Development Method Customer Validation Customer Creation Company Building Problem / Solution Customer Discovery Product / Market Business Model Cultural Change
- 6. the Customer Development Method Customer Validation Customer Creation Company Building Using Minimum Viable Product Customer Discovery Problem / Solution
- 7. the Customer Development Method Customer Validation Customer Creation Company Building Using Minimum Viable Product Customer Discovery Product Found Problem / Solution
- 8. the Customer Development Method Customer Validation Customer Creation Company Building Product found Customer Discovery Problem / Solution Product / Market
- 9. the Customer Development Method Customer Validation Customer Creation Company Building Product found A Repeatable Sustainable Sales Process Customer Discovery Problem / Solution Product / Market
- 10. the Customer Development Method Customer Validation Customer Creation Company Building Product found A Repeatable Sustainable Sales Process Customer Discovery Problem / Solution Product / Market Business Model
- 11. the Customer Development Method Customer Validation Customer Creation Company Building Product found A Repeatable Sustainable Sales Process Rapid and Scalable Growth Customer Discovery Problem / Solution Product / Market Business Model
- 12. the Customer Development Method Customer Validation Customer Creation Company Building Product found A Repeatable Sustainable Sales Process Rapid and Scalable Growth Customer Discovery Problem / Solution Product / Market Business Model Cultural Change
- 13. Foundations for Success Customer Discovery – Problem worth Solving Customer Discovery – Solution worth Building Customer Validation – Product Market Fit Your pitch Unit Economics How to make Money Your Prototypes
- 14. © Bill Aulet
- 20. Succeeding Pick a problem that you believe in Do your customer discovery well Define your metrics and nail them Rally all your resources Team Mentors Potential Customers Outside Supporters Passion wins..!!!
- 21. Building your team You can’t do it alone The people you join sets your “corporate culture” VCs name Team as #1 Risk Factor
- 25. A team in real life Investors Board of Directors Co-founders Your executive staff Board of Advisors (optional) Service Providers Attorneys, Accountants, Recruiters, PR firms, Outsourcers… Employees & Contractors Shareholders Board Advisors Exec Staff Employees & Contractors Service Providers You Co-founders
- 26. Your Team at EIA
- 27. Chief Executive Officer • Not always the idea person • Has strong organizational skills • Not always the pitch person • Has strong communication skills • Not ego driven. Team Driven...! • Busy through entire cycle
- 29. Great EIA Company Great EIA Company? Boss Collaboration Team Approval Committee
- 30. Chief Business Officer • Turns an idea into a business • Business Plan and Revenue plan • Unit Economics • Final plan deliverable • Heavy lifting starts week 2 and 3
- 31. Chief Marketing Officer • Responsible for marketing and go-to-market strategies • Helps drive customer discovery • Designs customer success metrics • Drives the customer sign-up metrics and process
- 32. Chief Technology Officer • Strong Technical Skills • Responsible for product spec • Oversees the prototyping process • Landing Page • Works with Software and IT Mentors • Product Sprint..!!
- 33. Chief Design Officer • Design to impress • Customers • Peers • Investors • Landing Page, Product Design, Pitch Slides • Design tools make this easier • Help out all other team members
- 35. SELF EVALUATION WHAT ARE YOUR STRENGTHS & WEAKNESSES? WHAT SKILLS DO YOU BRING TO THE TABLE? HOW DOES YOUR EXPERTISE FIT IN WITH THE TEAM?
- 36. The Three Hs Hacker = Builder Hustler = SalesHipster = Designer
- 37. The Best Teams are Diverse Divergent thinking Attacking problems from different angles
- 38. Diversity is Hard Don’t clump together You will fight End results will be MUCH better
- 39. Choosing the Right Teammates The right team rather than the right idea..! Discuss everyone’s strengths and weaknesses early on Validate strengths. Are they as good as they say? Find teammates whose strengths overcome your weaknesses
- 40. Choosing the Right Teammates The right team rather than the right idea..! Don’t choose members because they are “Agreeable” Find smart people you can disagree with but eventually come to an agreement (how do they respond when you disagree)
- 41. © 2017 Ken Singer
- 42. © 2017 Ken Singer Clutch Brake Accelerator
- 43. Going Through the Process
- 45. EIA Goals • It’s not all about the product..! • Not about Winning...! • Educational Process • Impact and Shared Experiences • Mindset and Tools
- 46. Mentors – Your key to success They are your guides Now you have Chief Mentors & Life Coaches
- 47. Life Coaches – Here to Help Trained industry authorities Get you over the bumps Someone to lean on
- 51. Team Formation Well Under Way Nearly 40 teams formed yesterday Lots of great ideas and energy But, if you haven’t found a proper team or having second thoughts, then come to the team clinic at 2pm on the 2nd floor.