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HOW TO INCREASE THE CHANCES OF DIGITAL STARTUP SUCCESS
- 1. HOW TO INCREASE THE CHANCES OF DIGITAL STARTUP SUCCESS
- 2. INTRODUCTION
- 3. AGENDA
- 4. www.web-peppers.com 4 Agenda 1.Theory - What is the Lean Startup 2.Case studies + The pain points 3.Development and management recommendations 4.Q&A session
- 5. WHAT IS THE LEAN STARTUP
- 6. www.web-peppers.com 6 What is the Lean Startup? The one of the most important ideas of the Lean startup is the “CONTINUOUS INNOVATION”. Any startup exists in a very unpredictable and flexible environment. Very often it means that it’s just impossible to predict the features of the product, the methods of monetization, etc. Even the portrait of the customer often is unknown.
- 7. www.web-peppers.com 7 Eric Ries proposes the learning cycle that can help to find a way how to transform ideas into the successful product. Ideas → Build → Product → Measure → Data → Learn What is the Lean Startup?
- 8. www.web-peppers.com 8 What is the Lean Startup?
- 9. www.web-peppers.com What is the Lean Startup? Test the critical parts of the idea ● Does the client really have an issue you want to solve? ● Does the proposed method work for the client? ● Is this possible to grow the business using selected methods of selling? 9
- 10. www.web-peppers.com What is the Lean Startup? Start building the MVP (Minimum viable product) As soon as you have the MVP, you should try to attract first clients and try to find out how your ideas and MVP work for the clients. 10
- 11. www.web-peppers.com What is the Lean Startup? Try it ● early adopters ● interviews 11
- 12. www.web-peppers.com What is the Lean Startup? After you’ve got the answers on your hypothesis, it’s possible to make decisions about the next cycle or the pivot. 12
- 13. THE MAIN PAIN POINTS
- 14. www.web-peppers.com PAIN POINTS and QUESTIONS - Get out of your office. Go and see - No pre-selling the product - MVP are not described - Unusual hypothesis - Be focused! Demands for MVP - Low quality MVPs 14 - Low-value features - Expected growth - Corridor of success - Market is changing too - No promotion - Wrong questions on the interview and many other...
- 15. www.web-peppers.com PAIN POINTS and QUESTIONS - Get out of your office. Go and see - No pre-selling the product - MVP are not described - Unusual hypothesis - Be focused! Demands for MVP - Low quality MVPs 15 - Low-value features - Expected growth - Corridor of success - Market is changing too - No promotion - Wrong questions on the interview and many other...
- 16. CASE STUDIES
- 18. www.web-peppers.com VALVE Manufacturer THE COSTUMER A Factory that produces valves for different needs - from small ones to large industrial, used on different manufactures, including military industry and high- risk environments. THE PROBLEM Considering challenging operating environment, very serious and expensive consequences caused by accident, it’s extremely important to properly analyse the state of equipment and make precise calculations of it’s replacement - not too early but preventing from possible accidents. Each valve has experimentally established conditions of service - a certain frequency of replacement. Even in case when the valve has not failed yet, it can be replaced, since the danger and cost of the probable accident would be too high. 18
- 19. www.web-peppers.com VALVE Manufacturer THE PROJECT PURPOSE Development of an autonomous warning system for timely replacement of valves. The system shouldn’t use human resources. THE SOLUTION ● Research and development of the complex system of different mobile sound and vibration-sensitive sensors. These sensors analyse acoustic and vibration background of the valve, on this basis making predictions for timely replacement of the exact valve ● Development of special analytic algorithms for precise identification of possible problems using AI, Machine Learning and Deep Learning. 19
- 20. www.web-peppers.com VALVE Manufacturer Result: our team has developed and successfully tested experimental DemoBox, which is an air system with a few valves and sensors. The system can be taught to recognize different states: when the specific valve is opened/closed/leaking/broken/shocked. 20
- 21. www.web-peppers.com VALVE Manufacturer We had the Idea of the customers needs1. We made the hypothesis of the solution2. We have done the MVP as quick as we could - DemoBox3. We have got the early adopters and came to them to propose the MVP - Pre-Sales4. They gave feedback - we made the changes5. Next learning cycle6. 21
- 22. www.web-peppers.com The pain points GET OUT OF THE OFFICE Get out the office and make the team go out the office too. When this is startup with the flexible official duties for each team member, and when each person makes decisions on his level - it’s needed for everybody to know the customer needs. 22
- 23. www.web-peppers.com The pain points UNUSUAL HYPOTHESIS This project is one of the rare examples when the most risky hypothesis is not the client or product, but the possibility to develop of such product. Development of a new is inspiring! 23
- 24. AMAZON
- 25. www.web-peppers.com Amazon THE PARTNER Amazon.com seller THE PROBLEM He has more than 1 hundred products on the marketplace. And amazon, due to the agreement of usage, can change a lot of the parameters of the product any time without the considering with the seller. 25
- 26. www.web-peppers.com Amazon THE PROJECT PURPOSE Make a monitoring system to get notifications any time when something changes in his products THE SOLUTION Complex micro-service parsing solution that use Tor network as proxy. And it happen that we can parse the whole Amazon.com each day (this is a lot of information). 26
- 27. www.web-peppers.com The pain points Be focused! The battle between improving existing vs. creating new features 27
- 28. www.web-peppers.com The pain points Countable expectations Expected growth Corridor of success 28
- 30. www.web-peppers.com CryptoCurrency BOT THE COSTUMER Internal product AN IDEA Automate the trading on several cryptocurrency exchanges and try to play with the own strategy. THE PROBLEM There are a lot of existed decisions on the market. Some of the existed solutions were pretty good, but all of them were not fast enough for our goal. 30
- 31. www.web-peppers.com CryptoCurrency BOT THE PROJECT PURPOSE To create arbitrage strategy bot THE SOLUTION ● Bot-algorithm that can work below the 100ms then we can try to win the money ● The first Bot was very simple, it was managed only from the configuration files, without any UI, and a few statistic information, but it worked with the speed less than 100ms from the identification of the arbitrage situation to the finished deal RESULT Bot was created and was getting the profit about 1-1.5% each day. NEW ISSUE There are not so much interesting arbitrage situations 31
- 32. www.web-peppers.com CryptoBot The PIVOT! The new product appears - Market Making service 32
- 33. www.web-peppers.com The pain points MARKET IS CHANGING TOO The market fell down. Мery quick reaction - we closed the development and sales department, and stay only with the support. So we kept the profit and didn’t re-invest this is the falling business. 33
- 34. RECOMMENDATIONS
- 35. HOW TO FIND A GOOD DEVELOPER
- 36. www.web-peppers.com 36 How to find a good developer ● Friends and acquaintance (Goot guy is not the occupation) ● Freelance ○ https://www.upwork.com/ ○ https://www.freelancer.com/ ○ https://www.guru.com/ ○ https://www.toptal.com/ ● Outsourcing company ○ https://clutch.co/ ○ https://www.goodfirms.co/
- 37. HOW TO MANAGE THE REMOTE TEAM
- 38. www.web-peppers.com 38 How to manage the remote team ● SCRUM ● Kanban ● Waterfall RULES: ○ git + 1 commit per day ○ better 2+ developers ○ 15 minutes-meetings
- 39. THANK YOU! Made by Yevhen Rybak CTO at “Web Peppers” IT Development and Outsourcing evgen.r@web-peppers.com www.web-peppers.com