In this talk, we follow the story of Spyce, an MIT startup featuring restaurants with a robot kitchen, and look at how they navigated the key themes in Disciplined Entrepreneurship: Who is your customer, What can you do for your customer, and Making Money.

1. Introduction to Disciplined Entrepreneurship
October 1, 2018
Elaine Chen

2. Over 30K companies, 4.6M jobs, $2T revenues/yr
MIT’S ENTREPRENEURIAL LEGACY

4. “Are entrepreneurs born or made?”

5. At MIT, we believe entrepreneurship
is a craft that can be taught

6. Spirit
of a pirate
+
Skills
of a Navy Seal

7. SPIRIT

8. SKILLS

9. FIRST: FOCUS ON THE CUSTOMER

10. THE SINGLE, NECESSARY, AND SUFFICIENT CONDITION
FOR A SUCCESSFUL BUSINESS IS A PAYING CUSTOMER

11. But… just that is not enough
Need to solve customer problems with a great product
Problem Solution
Problem-solution fit

12. SECOND: FOCUS ON THE SOLUTION

13. But… even that is not enough

14. THIRD: FOCUS ON THE MONEY

15. Example: The “Spyce Boys”

16. Solving their own problem:
University students cannot afford good food

17. Who is the customer?

18. Who is the customer?

19. What can they do for their customer?

20. Product: Robot kitchen

21. Core: Robotics

22. Where is the money?

23. What are they selling?
Just the robot Managed services Meals

24. Original assumption
University Dining Services
University

25. What they found
University Dining Services
University
Chartwells services
also want managed
services, not just
the robot

26. Operationally challenging
Ground
transportation
Industrial
Kitchen
Wholesale
ingredients
Spyce
@MIT
Spyce
@MIT
Spyce
@Harvard
Spyce
@Boston U
$$
$$ $ $
$
$
$ $
$
$
$$

28. Back to the drawing board

29. This time they are not skipping steps
Students Professionals eating at
company cafeteria
Professionals eating out

30. Beachhead market
Students Professionals eating at
company cafeteria
Professionals eating out

31. What can they do for their customer?

32. Spyce, a robot kitchen that prepares meals
Spyce, a restaurant with a robot kitchen

33. Product: A tasty, beautiful meal

34. Core: Culinary Excellence, elevated by technology
Daniel Boulud
World renowned, award winning
chef and restauranteur
Sam Benson
Former sous chef, Dinex Group
– Chef Daniel Boulud

35. Where is the money?

36. $7.50

37. Simple is beautiful
Ground
transportation
Industrial
Kitchen
Wholesale
ingredients
Spyce
Restarant
@Downtown Crossing
$$$

38. Reducing labor cost, increasing consistency

39. Team!

41. Key takeaways
• Know why you are in business
• Market and customer drives the product and the business
• Your customer can lead you to build a product they love
• Simple is beautiful for making money
• Grit and resilience is key. – Because you WILL pivot.
• Team is #1!

42. 24 STEPS TO A SUCCESSFUL STARTUP

43. LEARNING MORE: FAQ
http://entrepreneurship.mit.edu/faq

44. LEARNING MORE: BOOKS

45. LEARNING MORE: MOOCs
https://www.edx.org

46. THANK YOU
• @chenelaine conceptspring.com