From an idea to a startup to a business
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So you got an idea. How do you make it into a business? You need to make a startup, search for a business model, find customers and scale. This talk briefly talks about where to go next
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From an idea to a startup to a business
- 1. From Idea to Startup and Beyond
- 2. Why I’m Talking About This? • • • • 7 years of startup experience 3 startups (1 acquisition) Currently the co-founder and CTO of Pring Everything I talk about I’ve learned* the hard way • Take your ideas to the next stage *Still Learning!
- 3. What’s a Startup? • Not a Small, Medium Business • It’s a temporary organization looking for scalable, repeatable business model Idea Startup Business
- 4. Business Model? Startups are looking to solve a problem while making money in the process
- 5. Tech Risk vs Market Risk • Is yours a tech risk or a market risk? • Usually it’s almost always the Market • Very few startups fail because of a technology failure • Most fail because of market failure ie: not enough users or not enough paying customers
- 6. How do you Reduce Engineering Risk? • • • • Scrum, XP, Agile Development Test/ Behavior Driven Development Spiral, Prototype Based Development Hybrid/Waterfall Development
- 7. Market Risk? • Customer Development Process – Dr. Steve Blank Key Resource: Startup Owner’s Manual • Lean Startup –Eric Ries Key Resource: The Lean Startup
- 8. Create Your Hypothesis • • • • What are your assumptions about… …The user (behavior, pain point etc) …the market (competition, pricing etc) …the customer (significant problem for them? Price point? Good enough solution?
- 9. Then Go Out and Validate • Meet Earlyvanglists (early adaptors)
- 15. Book: Business Model Generation: Alexander Osterwalder
- 16. Two-Sided Business Models • • • • Side One: Users Side Two: Advertisers You need to iterative over both Users: Registrations, Contents Created, Minutes Spent etc • Advertisers: Order Size, CTR, eCPM etc
- 17. Only ideas exist within the building. The Facts are outside.
Editor's Notes
- The area is new in a fundamental way. Could be a new way to distribute.
- Business Model Generation: Alexander Osterwalder
- Customer Discovery: Talk to potential early customers and find out their top three problems. Then show them your solution and see if they find it a fit for their problem (MVP)When customers confirm both the problem and solution, this step is complete or you pivot and reiterate your model2. Customer ValidationProves that the business is scalable over a large number of cases where there is a large enough market to create a profitable company3. Customer CreationMore investment into marketing, sales roadmaps etc4. Company BuildingGraduation day