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Jan kennedy - I have an idea - what now? @WBIS2014
The document outlines the Founder Institute's mission to launch 1,000 meaningful technology companies annually through a structured idea-stage incubation process. It emphasizes the importance of entrepreneurial traits, customer validation, and testing ideas to determine financial viability, as well as the steps needed for product development, sales traction, and branding. It concludes with guidance on fundraising and pitching to investors, highlighting the success rates of the program.
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Jan kennedy - I have an idea - what now? @WBIS2014
- 1. Jan Kennedy Director: FounderInstitute 2014 http://fi.co | @founding
- 2. Globalizing Silicon Valley A peek atFounder Institute… http://fi.co | @founding
- 3. The Vision To helplaunch meaningful and enduring technology companies
- 4. The Mission Launch 1,000 companiesper year… Across 100 cities
- 5. An idea-stage incubator that helps entrepreneurs createmeaningful and enduring technology companies. As featured in Great People Expert Training Aligned Incentives
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- 8. SO YOU HAVEAN IDEA now what? http://fi.co | @founding
- 9. 0. LOOK INTHE MIRROR http://fi.co | @founding
- 10. Do you have Entrepreneurial DNA? “Ideasare worthless if you can’t execute”
- 11. Gifted to dothe same?
- 12.
- 13. GOOD TRAITS 1. HighFluid Intelligence (not IQ – recognise patterns & adapt) 2. High Openness (curiosity to challenge norms) 3. Moderate Agreeableness (flexibility) 4. Experience (increases until 40)
- 14. BAD TRAITS 1. PredatoryAggressiveness 2. Excuse Making 3. Deceit 4. Emotional Instability 5. Narcissism (vanity)
- 15. 1. IDEATE Goal: Developa set of strong ideas http://fi.co | @founding
- 16. The Typical Process… 1.You see a great opportunity 2. You tell your mum & she tells you it’s fantastic 3. You build the solution You lose all your money!
- 17. 99.9% of ideasare bad!
- 28. 2. CUSTOMER VALIDATION Goal: Testyour ideas with Research http://fi.co | @founding
- 29. Who is (going tobe) drinking your wine?
- 30. Problem – SolutionFit 1. Oil is Bad 1. Electric Scooter 2. No Vespa friends Educate 3. Not Sure 2. Trial Vespa 3. Rent then Buy 1. Vespa Buyer 2. Difficult Commute 2. Difficult Commute „skinny tie“ „tried my firends Vespa“ „not sure if I‘m a scooter person“
- 31. Interview & ObserveExtreme Users Insights to test…
- 32. Get Testing Early Experiments -Exploration (interview, observation, survey) - Pitch (currency / real proof) Later Experiments - Concierge Service (manual execution) - Prototype (minimal viable product)
- 34. 3. REVENUE MODELS Goal: chosean idea on financial merit http://fi.co | @founding
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- 36. Know your IdealCustomer for each Revenue Stream Persona Demographic Preferences Does it match your Value Proposition?
- 38. Looks like youare… Solving a real Problem + For real paying Customers + With a Viable Solution = GOOD CHANCE OF MAKING MONEY
- 39. Chose 1 ideaand move past GO…
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- 43. Recruit Advisors Prep TeamRoles to help launch Start Recruitment Cash Vs Equity Compensation Complete Alignment Joe Abraham
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- 45. Identify Assumptions totest with an MVP: Later Experiments - Concierge Service (manual execution) - Prototype (minimal viable product) Consider Kickstarter Test for physical products
- 46. Be current oncompetitor offerings Start Wireframing & Paper Prototyping to get fast feedback (Rapid Experimentation)
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- 49. Launch High Price Get Referrals Closefirst deal Analyse conversion funnel Refine & Sell More
- 50. 10. Branding + Marketing GOAL:Establish Market Credibility http://fi.co | @founding
- 51. 11. Fundraising Goal: SeedCapital / Loan http://fi.co | @founding
- 52. My company, (companyname) is developing (a defined offering) to help (a target audience) (solve a problem) (with secret sauce) ,
- 53. Investor Pitch Deck CompanyOverview What is the Problem & Opportunity? Size? Solution How to deliver the solution Benefits / Value of solution Secret Sauce Competitive Advantage Competitor Matrix Business Model Financial Projections Financial Requirements / Milestone Summary 42% Funded 90% Success Rate
- 54. If all elsefails…
- 55. QUESTIONS? Idea to ViableBusiness Jan.kennedy@founderinstitute.com
Editor's Notes
- #17 Opportunity is based on passion…
- #18 Until you start testing them out and learning how to eveolve then.
- #30 After the fact you sold your wine, you know who drinks it.
- #31 The more you know about the customer the easier you can piece your business model together.
- #32 The more you know about the customer the easier you can piece your business model together.
- #33 The more you know about the customer the easier you can piece your business model together.