This document provides guidance on building a compelling value proposition for a startup. It discusses evaluating problems to solve, defining ideas and solutions, and building the value proposition around what the founders understand and can deliver uniquely well. The document emphasizes that the problem should be unworkable, unavoidable, urgent and underserved, and the solution should be discontinuous, defensible and disruptive. It also stresses that the customer gain from the solution should be an order of magnitude greater than the pain of adoption. Examples are provided for clarification.
Company Formation - Foundations for an Enduring Company - Competitive Advanta...Michael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 2 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
It features the case study of Acquia who participated in the workshop.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Game Changing Business Models - V2! - with case examples - Competitive Advant...Michael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 3 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Building a Compelling Value Proposition - Competitive Advantage for StartupsMichael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 1 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Building a compelling value propositionMichael Skok
This presentation is an overview designed to help startups create their value proposition. It was developed in partnership to Actifio, arguably the fastest growing storage startup ever.
It is part of the Startup Secrets focus on Value Proposition development. For more information on this and other Startup Secrets focus areas, visit http://www.startupsecrets.com
Company Formation - Foundations for an Enduring Company - Competitive Advanta...Michael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 2 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
It features the case study of Acquia who participated in the workshop.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Game Changing Business Models - V2! - with case examples - Competitive Advant...Michael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 3 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Building a Compelling Value Proposition - Competitive Advantage for StartupsMichael Skok
Developed for the Harvard Innovation Lab workshop series on Startup Secrets.
This is part 1 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/
Building a compelling value propositionMichael Skok
This presentation is an overview designed to help startups create their value proposition. It was developed in partnership to Actifio, arguably the fastest growing storage startup ever.
It is part of the Startup Secrets focus on Value Proposition development. For more information on this and other Startup Secrets focus areas, visit http://www.startupsecrets.com
This presentation provides an overview of approaches to developing you vision and mission, as well as the critical nuances tied to company culture. It also features an insightful case example from Salsify.
Startup Secrets - Have you got what it takes?Michael Skok
There is a belief in the business world that founders can’t scale. Put another way, a company’s growth curve will eventually outstrip the capabilities of its founder’s ability to remain CEO.
Startup Secrets - Getting Behind the Perfect Investor PitchMichael Skok
These days the pitch to a VC displaces the old business plan because most investors simply don’t have time to read a full business plan, and most entrepreneurs don’t have time to write one. That said, the business strategy still serves as the foundation for any presentation you create.
Startup Secrets - Funding Strategies to Go the DistanceMichael Skok
Having been a venture capitalist for the last decade, I have found that the topic of funding is one that everyone wants to know about but is openly discussed by few. Ironically, the more it is talked about, the more educated entrepreneurs will be, enabling them to make the right decisions as they seek funding for their startup.
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-CreationMichael Skok
This is a case to exemplify how disruptive open source and co-creation can be as part of your business model. Presented by Dries Buytaert, founder of Drupal, the largest open source project on the planet.
This is part of the workshop on Game Changing Business Models - itself part of the series on Startup Secrets, by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the framework for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://mjskok.com/
Startup Secrets - Game Changing Business ModelsMichael Skok
In our industry, it’s not uncommon for entrepreneurs to become so mono-focused on the novelty of their product that they forget to innovate sufficiently around their business model. A disruptive business model can be at least as important as a discontinuous innovation.
Startup Secrets presents a lecture on how to build a compelling value proposition. Learn about stories, the information necessary, and the questions to ask yourself about how to show people you're worth the money!
Turning Products into Companies - Case - SolidWorksMichael Skok
John McEleney, former CEO of SolidWorks, discusses how the 3D design company became a market leader. He reviews how it is easy to start a company but hard to build a business, offering an instructive view of the approaches he took that led to his success and the company’s ultimate acquisition by Dassault Systems.
What is needed to build a startup? What are the milestones along the way? And how to do you pull that pitch together to get the venture attention and funding your idea deserves. This Slideshare was given at the Harvard iLab and offered:
-- The holistic checklist to think through your venture in a business like plan
-- What matters to a VC/Investor
-- How to think about your roadmap from startup to public company
Value Proposition – Case – Diagnostics for AllMichael Skok
This case example provides an overview of DFA’s approach to defining its value proposition, as well as its ability to address qualitative evaluation and gain/pain ratio requirements.
This is part of the Startup Secrets focus on Value Proposition development. For more information on this and other Startup Secrets focus areas, visit http://www.startupsecrets.com
Harvard Innovation Lab Workshop on developing the Perfect Pitch, by Michael Skok.
Michael is an entrepreneur turned venture capitalist, who has seen both sides of this. He spent 21 years as a CEO, building companies and raising over 100 million to build a number of software businesses. And then has spent the last decade as a VC seeing thousands of pitches from entrepreneurs raising money, and invested in companies that have generated over a billion dollars in value.
So with that in mind, the idea here is to give you an insider's checklist for your own pitch,
You’ve figured out your value prop and you’ve got a great product under development. Now what? How can you develop a roadmap to build a company? Venture Capitalists often qualify deals as being a “feature”, a “product” or a “company”. Which do you have and how will you get where you want to go? This presentation addresses how to think about designing your product as a foundational element of your business. This includes thinking beyond UX and Architecture to Whole Product, Ecosystems, and Strategic partners. It also focuses on formulating how to design your go-to-market strategy and business model into your product (with a modular architecture, distinctive packaging and a frictionless approach).
A company is only as good as its team, which is why the hiring process is so critical as you build out your venture. And anyone who has made a bad hire along the way knows that hiring the wrong person can cost you far more than time and money. This presentation shares a framework comprised of three areas of focus critical to hiring success.
Startup Secrets presents a lecture on how to turn products into companies! Your great idea won't stand on its own -- Figure out how to build a sustainable company around a fantastic product.
This presentation provides an overview of approaches to developing you vision and mission, as well as the critical nuances tied to company culture. It also features an insightful case example from Salsify.
Startup Secrets - Have you got what it takes?Michael Skok
There is a belief in the business world that founders can’t scale. Put another way, a company’s growth curve will eventually outstrip the capabilities of its founder’s ability to remain CEO.
Startup Secrets - Getting Behind the Perfect Investor PitchMichael Skok
These days the pitch to a VC displaces the old business plan because most investors simply don’t have time to read a full business plan, and most entrepreneurs don’t have time to write one. That said, the business strategy still serves as the foundation for any presentation you create.
Startup Secrets - Funding Strategies to Go the DistanceMichael Skok
Having been a venture capitalist for the last decade, I have found that the topic of funding is one that everyone wants to know about but is openly discussed by few. Ironically, the more it is talked about, the more educated entrepreneurs will be, enabling them to make the right decisions as they seek funding for their startup.
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-CreationMichael Skok
This is a case to exemplify how disruptive open source and co-creation can be as part of your business model. Presented by Dries Buytaert, founder of Drupal, the largest open source project on the planet.
This is part of the workshop on Game Changing Business Models - itself part of the series on Startup Secrets, by Michael J Skok on how to get competitive advantage as a startup.
Michael's slides are the framework for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://mjskok.com/
Startup Secrets - Game Changing Business ModelsMichael Skok
In our industry, it’s not uncommon for entrepreneurs to become so mono-focused on the novelty of their product that they forget to innovate sufficiently around their business model. A disruptive business model can be at least as important as a discontinuous innovation.
Startup Secrets presents a lecture on how to build a compelling value proposition. Learn about stories, the information necessary, and the questions to ask yourself about how to show people you're worth the money!
Turning Products into Companies - Case - SolidWorksMichael Skok
John McEleney, former CEO of SolidWorks, discusses how the 3D design company became a market leader. He reviews how it is easy to start a company but hard to build a business, offering an instructive view of the approaches he took that led to his success and the company’s ultimate acquisition by Dassault Systems.
What is needed to build a startup? What are the milestones along the way? And how to do you pull that pitch together to get the venture attention and funding your idea deserves. This Slideshare was given at the Harvard iLab and offered:
-- The holistic checklist to think through your venture in a business like plan
-- What matters to a VC/Investor
-- How to think about your roadmap from startup to public company
Value Proposition – Case – Diagnostics for AllMichael Skok
This case example provides an overview of DFA’s approach to defining its value proposition, as well as its ability to address qualitative evaluation and gain/pain ratio requirements.
This is part of the Startup Secrets focus on Value Proposition development. For more information on this and other Startup Secrets focus areas, visit http://www.startupsecrets.com
Harvard Innovation Lab Workshop on developing the Perfect Pitch, by Michael Skok.
Michael is an entrepreneur turned venture capitalist, who has seen both sides of this. He spent 21 years as a CEO, building companies and raising over 100 million to build a number of software businesses. And then has spent the last decade as a VC seeing thousands of pitches from entrepreneurs raising money, and invested in companies that have generated over a billion dollars in value.
So with that in mind, the idea here is to give you an insider's checklist for your own pitch,
You’ve figured out your value prop and you’ve got a great product under development. Now what? How can you develop a roadmap to build a company? Venture Capitalists often qualify deals as being a “feature”, a “product” or a “company”. Which do you have and how will you get where you want to go? This presentation addresses how to think about designing your product as a foundational element of your business. This includes thinking beyond UX and Architecture to Whole Product, Ecosystems, and Strategic partners. It also focuses on formulating how to design your go-to-market strategy and business model into your product (with a modular architecture, distinctive packaging and a frictionless approach).
A company is only as good as its team, which is why the hiring process is so critical as you build out your venture. And anyone who has made a bad hire along the way knows that hiring the wrong person can cost you far more than time and money. This presentation shares a framework comprised of three areas of focus critical to hiring success.
Startup Secrets presents a lecture on how to turn products into companies! Your great idea won't stand on its own -- Figure out how to build a sustainable company around a fantastic product.
Lean UX + UX Strat, from UX Strat conference, September 2013Joshua Seiden
Slides from my talk at UX Strat, 2013. (www.uxstrat.com)
How to use Lean UX methods to execute on business, product, and design strategy.
I presented a slightly altered version a few days later at Fluxible 2013. (http://www.fluxible.ca)
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...Martin Karlowitsch
Presentation held at Directions EMEA 2017 in Madrid.
Been on the market for decades? Living from upfront license revenues and services that you sell alongside? Think of developing a SaaS product, but not sure where to start? Think of building a vertical Microsoft Dynamics 365 SaaS app/product? Come and join me, and I will share my experiences with you from building www.just-plan-it.com on Azure and integrate it with Dynamics 365. I will provide real life experiences, share tips and tricks, books to read and tools to use on that journey. My purpose is encouraging you to go the SaaS development route as you as an incumbent have a huge advantage over funding series driven start-ups: you know your market and have you a sustained cash flow to finance growth. In essence, I will cover the following questions:
1) How to identify and validate market demand?
2) What the heck is an MVP (minimum viable product) and how can it help?
3) How can I easily start the inbound lead generation journey?
4) How to organize development to stay at the “pulse of the market”?
5) How to measure and manage initial success?
6) Why is user onboarding so crucial and difficult?
7) How to prepare for scale?
Presented at Business of Software 2014, Michael Skok (North Bridge Ventures) looks at what it takes to create a scaleable billion dollar business.
Full of insights and practical tips. Read if you're in the early stages of a startup, considering strategy or wondering how to accelerate.
2016 Innovation Roundtable Keynote by Michael SkokMichael Skok
Michael Skok, Co-Founder and Partner of Underscore.VC was invited to give the keynote presentation at the 2016 Innovation Roundtable Summit in Copenhagen.
Startup Secrets presents a lecture on how to build a game-changing business model for your unique startup. Business models can be just as disruptive as technology!
How to build a startup SLASSSCOM Talk Aug 2015Raomal Perera
An introduction on how to build a startup using lean techniques. The talk was hosted by SLASSCOM and sponsored by Virtusa, Regus Sri Lanka and Pick Me.
Similar to Startup Secrets - Building a Compelling Value Proposition (20)
Ideas are worth very little without a culture to guide the selection of talent and a big, bold vision to attract and unify the team. Human capital is what separates great from good companies – which is why establishing a strong culture to attract and retain the right people, while unifying them behind an inspiring vision and mission is essential to any significant venture.
Mentorship is a seemingly simple concept. Get some help from someone more experienced than you. So why do we bother teaching a class on it? Because, like anything else, it’s a skill to mentor and be mentored. And if we can learn that skill it can be a real gift, both to give and receive.
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...Michael Skok
Endeca was acquired by Oracle in 2011 for $1.1 billion. In the below presentation, Endeca Founder Steve Papa discusses his path to securing the funding that helped make the company a success. Steve also shares key lessons learned, such as the significance of macroeconomics and how fundraising efforts start long before you are actually pitching to investors.
Ask these basic questions: How much capital does your growth require? What will be your cost of capital over the growth of your venture? Can you afford to grow at all costs? When will growth not be the basis for valuation? What if factors beyond your control impact growth?
3 Skills to Master the gift of Mutual MentorshipMichael Skok
Mentorship is a seemingly simple concept. Get some help from someone more experienced than you. So why do we bother teaching a class on it? Because like anything else it's a skill to mentor and be mentored. And if we can learn that skill it can be a real gift, both to give and receive.
But first of all you've got to know what you're looking for in mentorship. Is it a handout or real help? Do you want answers or are you really looking to learn? For those looking to learn and build not just knowledge but skills for self sufficiency, mentoring can be a mutually rewarding gift.
Think of the process of being mentored as a game of chess. You can easily ask for the next move, but wouldn't you rather learn to master the game?
See the presentation to learn 3 skills to get you going on that path:-
The 2014 Future of Cloud Computing Survey was conducted in partnership with 72 Collaborators. The survey is the most widely endorsed survey of its kind in the industry. To tweet individual slides, please note the banner on the upper right hand corner of each page. Visit the Blog on http://mjskok.com/resource/2014-future-cloud-computing-4th-annual-survey-results and follow us @futureofcloud #futureofcloud to join the conversation.
2014 Future of Open Source - 8th Annual Survey resultsMichael Skok
The annual Future of Open Source Survey provides a report on the state of the open source industry and analysis of future trends. Now in its eighth year, this annual survey was supported by with over 45 collaborators, open source software industry leaders, and collaborating organizations, and compiles results from hundreds of respondents from the open source community.
Andy Jassy Illuminates Amazon Web ServicesMichael Skok
Andy Jassy, senior vice president of Amazon Web Services, provides an overview of AWS at the May 8, 2013 Startup Secrets session at Harvard innovation lab.
We all know a company is only as good as its team, which is why the hiring process is so critical as you build out your venture. This presentation focuses on the different considerations an entrepreneur should make with regard to hiring, featuring insights from Russ Campanello, iRobot’s senior VP of HR, and Eric Gaffen, Acquia’s global manager of talent acquisition. The presentation also provides recommendations on specific questions to ask when trying to find your ideal candidate.
This case example demonstrates how Disqus developed its value proposition, while offering insight into how the company addressed the qualitative evaluation process.
This is part of the Startup Secrets focus on Value Proposition development. For more information on this and other Startup Secrets focus areas, visit http://www.startupsecrets.com
Startup Secrets: Raising Funding - Case – GivologyMichael Skok
This is a guest presentation from Alok Tayi, PhD. He is a postdoctoral fellow, in the Whitesides Lab at Harvard University. Alok has been working to provide sample case studies on for the Startup Secrets series. Special thanks to Coulter King and Joyce Meng of Givology for their contributions to this case study.
Givology is a student-run social enterprise that helps individuals find and fund education-related projects around the globe. Givology was launched in 2008 and founded by three University of Pennsylvania undergraduates: Joyce Meng, Jennifer Chan and Carl Mackey.
More: http://www.mjskok.com/resource/startup-secrets-raising-funding
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This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
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Adversarial Attention Modeling for Multi-dimensional Emotion Regression.pdf
Startup Secrets - Building a Compelling Value Proposition
1. Proprietary and Confidential
START UP
SECRETS
An insider’s guide to unfair competitive advantage
Building a Compelling Value Proposition
@underscorevc
startupsecrets.com
3. Proprietary and Confidential
For (target customers)
Who are dissatisfied with (the current alternative)
Our product is a (new product)
That provides (key problem-solving capability)
Unlike (the product alternative)
Value Prop
3startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
4. Proprietary and Confidential
For Mobile Enterprises
Who are unable to deliver Apps to users bringing their own devices to
work
Our Enterprise App Services Environment (EASE)
Provides for users to securely access Apps and Information
Unlike (MDM), our patented Cloud based (MAM) solution is instantly
turned on and scales to tens of thousands of users
Example – Apperian (simplified)
4startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
5. Proprietary and Confidential
Where might you start?
Evaluate Build
Gain Pain
Value
Prop
Define
Ideas
Problem
Solution
5startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
7. Proprietary and Confidential
Evaluate Build
Gain Pain
Value
Prop
Define, Qualify
Agenda - Problem
Ideas
Problem
Solution
7startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
8. Proprietary and Confidential
Unworkable
Unavoidable
Urgent
Underserved
Problems worth solving
are usually 4U …
Problem
8startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
9. Proprietary and Confidential
Broken business process
Consequences ?
If the consequences are costly or painful,
so much the better.
E.g. who gets fired if this doesn’t work?
Unworkable
9startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
10. Proprietary and Confidential
Accounting
Regulation
Is the problem so fundamental
you can’t avoid it and just have to comply?
Unavoidable
10startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
11. Proprietary and Confidential
Relative to other needs …
Priority
• Determines resources allocated
If you’re not at the top of the list,
are you at least in the top 3?
If not will you get moved up or down over time
and why?
Urgent
11startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
12. Proprietary and Confidential
You will compete in a zero-sum game
Finite:
• $
• Time
• People
• Attention
Underserved – business…
12startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
13. Proprietary and Confidential
Examples…
• Social
– Find
– Connect
– Communicate
– Meet
– Share
– Entertain
– Date
Needs…
• Social
• Security
• Physical
• Economic
• Recognition
• Responsibility
• Achievement
• Growth
Underserved – consumers…
13startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
14. Proprietary and Confidential
Is it “blac” & white?
Blatant
Latent
Aspirational
Critical
Blatant
Latent
Aspirational Critical
Blatant
Critical
Qualify the problem
14startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
15. Proprietary and Confidential
Is it addressing a “white space” in the market?
• an open area of opportunity
• which you can capture
• Uniquely well
• AND defend with a moat
NOT just technology, business model too
Startup Secret: create a moat
15
Sunset of the Forbidden City, Beijing |Source=original creation by Wikipedian
|Date=June 09 2006 |Author=User:kallgan |Permission=GFDL |other_version
moat
startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
16. Proprietary and Confidential
Is it 4 U?
• Unworkable
• Unavoidable
• Urgent
• Underserved
Is it blac and white?
Problem - Summary
16startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
18. Proprietary and Confidential
4 U
Blatant
Critical
Ideas – fit to problem...
18Building a Compelling Value Proposition @underscorevc
19. Proprietary and Confidential
Evaluate Build
Gain Pain
Value
Prop
Define
Ideas
Problem
Solution
Agenda - Solution
19startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
21. Proprietary and Confidential
• Faster
• Cheaper
• Better
Startup
Opportunity?
21startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
22. Proprietary and Confidential
What is your compelling
breakthrough?
3 D
Break something!
22startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
23. Proprietary and Confidential
Discontinuous innovation
Defensible technology +
Disruptive business model
A breakthrough that
COMPELS people to
ACT !
23
Breakthrough opportunities
3 D
startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
24. Proprietary and Confidential
It’s often as much work going after a small fight…
Big problems often = big opportunities
Startup Secret: Pick a BIG fight!
24startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
25. Proprietary and Confidential
It’s often as much work going after a small fight…
Big problems often = big opportunities
Start small (Execution), think BIG (Vision), develop a ROADMAP
• See Roadmap to Success on startupsecrets.com
• EG Uber
An app…. with the potential to disrupt an industry
At Underscore.VC we look for bold, brave entrepreneurs with big vision
Startup Secret: Develop A Roadmap
25startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
26. Proprietary and Confidential
Evaluate Build
Gain Pain
Value
Prop
Define
Ideas
Problem
Solution
Agenda - Evaluate
26startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
27. Proprietary and Confidential
Before After
Acute Pain
Absolute Joy
Qualitative evaluation
27startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
28. Proprietary and Confidential
Before After
Acute Pain
Absolute Joy
Vitamin vs. Morphine
Qualitative evaluation
28startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
30. Proprietary and Confidential
For companies with web or mobile apps
Who are dissatisfied with apps that work as expected in the
QA lab, but not in the hands of end users
Our in-the-wild testing
Enables them to test their apps under real-world conditions
Unlike outsourced testing, which merely moves the QA lab to
a cheaper part of the world, but doesn’t actually improve app
quality
uTestBefore & AfteruTest
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31. Proprietary and Confidential
Before: Test In The Lab & Hope
Testing inside the lab is vital. But today’s web & mobile apps require a new approach to
augment lab testing: in-the-wild testing
After: Test Where Your Users Are
Before & AfterBefore & After
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Introducing the gain/pain ratio
Quantitative Evaluation
Gain Pain
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33. Proprietary and Confidential
The gain delivered to the customer
vs.
The pain and cost for the customer to adopt
“Gain/Pain ratio"
Gain Pain
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• Revenue
• Cost savings
• Time
• People
• Competitive advantage
• Reputation
• Etc..
Gain
Gain Pain
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35. Proprietary and Confidential
• Find (See)
• Try
• Buy
• Implement
• Deploy
• Own – eg TCO
Pain
Gain Pain
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Gain from uTest:
• Scale infinitely and immediately
From 3 testers, to 30, to 300, and back to 0
• Lower total cost of testing
EG: SMBs - unlimited testing for ½ the cost of one FTE
• Test under real-world conditions
Live testers, real devices, imperfect conditions… in-the-wild
Pain from uTest:
• More testing reports, creating more work
Takes time to re-produce, vet and rate 50+ bugs
• More collaboration, creating more oversight
Coordination between in-house & crowd testers
Goal:
• Maximize in-the-wild testing, while minimizing overhead
38
uTest: Gain vs Pain
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37. Proprietary and Confidential
• Switching costs?
• Default = do nothing
• Alternatives?
• Good enough =
good enough!
• RISK on a startup
Inertia,
RISK
Inertia
Gain Pain
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38. Proprietary and Confidential
What’s the right ratio?
Inertia,
RISKGain Pain
40startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
39. Proprietary and Confidential
> 10 to overcome
• Inertia
• RISK
“Gain/Pain ratio”
Inertia,
RISK
Gain
Pain
>10
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41. Proprietary and Confidential
Gain/Pain Ratio
Average of 30:1 benefit
• $34m vs $1.2m
• Recovery used to take 8 1/2 hours v 2
minutes
Inertia,
RISK
Gain
Pain
>10
startupsecrets.comBuilding a Compelling Value Proposition @underscorevc 43
42. Proprietary and Confidential
Customer view = Gain/Pain
• Revenue
• Cost savings
• Time
• People
• Competitive advantage
• Reputation
• Etc.
• Inertia
• Switching costs?
• Default = do nothing
• Alternatives?
• Good enough =
good enough!
• RISK on a startup
• Find (See)
• Try
• Buy
• Implement
• Deploy
• Own – e.g.TCO
Inertia,
RISKGain
Pain
45startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
43. Proprietary and Confidential
“An order of
magnitude”
Customer view = Gain/Pain
• Revenue
• Cost savings
• Time
• People
• Competitive advantage
• Reputation
• Etc.
• Inertia
• Switching costs?
• Default = do nothing
• Alternatives?
• Good enough =
good enough!
• RISK on a startup
• Find (See)
• Try
• Buy
• Implement
• Deploy
• Own – e.g.TCO
Inertia,
RISK
Gain
Pain
>10
46startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
45. Proprietary and Confidential 48
• Tough to quantify precisely, but here’s what we’ve learned
Gain vs. Pain Ratio
Gain Pain
Cost Savings: 10X
Lower Escape Rate by 75%
Make Testing Mirror User
Base
Launch Confidence
Higher Quality Apps
vs.
Increased Overhead
5:1
on cost basis
20:1
on cost + value basis
Customer Gain vs Pain Ratio
48startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
46. Proprietary and Confidential 49
• Test latest version of Google Chrome across 300 highest trafficked URLs
on the web
Traditional Outsourcing vs. uTest
Testers 8 Testers 30
Hours / Tester 40 Hours / Tester 10
# of Days 5 # of Days 2
# of URLs Tested 300 # of URLs Tested 300
# of Discovered Issues 19 # of Discovered Issues 129
Price $15,000 Price $10,000
Price-per-Issue $789 Price-per-Issue $78
Sample Customer ROIGain vs. Pain Ratio
Sample Customer ROI
49startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
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Increase revenue by 40% at counters
Roll out 17,000 iPads
Deliver worldwide no IT touch required
Saved $2.5M+ in direct IT costs
Example - Apperian
51startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
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Disruptive innovation
Yet..
NON disruptive adoption
Startup Secret…
52startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
50. Proprietary and Confidential
Agenda - Build
Evaluate Build
Gain Pain
Value
Prop
Define
Ideas
Problem
Solution
53startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
51. Proprietary and Confidential
For (target customers)
Who are dissatisfied with (the current alternative)
Our product is a (new product)
That provides (key problem-solving capability)
Unlike (the product alternative)
Value Prop
54startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
52. Proprietary and Confidential
What problems do you understand uniquely well?
What solution can you deliver uniquely well?
What kind of disruptive business model can you bring?
Build around – YOU…
55startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
53. Proprietary and Confidential
1. Define,
• 4U Need (Unworkable, Unavoidable, Urgent, Underserved)
• 3D Solution (Discontinuous, Defensible, Disruptive)
2. Evaluate
• Gain/Pain >10
3. Build
• Around YOU!
Summary
56startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
54. Proprietary and Confidential
START UP
SECRETS
An insider’s guide to unfair competitive advantage
Building a Compelling Value Proposition
@underscorevc startupsecrets
.com
56. Proprietary and Confidential
1 2 3
HOW DISQUS WORKS
Easy install for all platforms
Sites are part of the Disqus network
Sites integrate Disqus Users engage with Disqus
Users discover new content &
sites across Disqus
Sites see tangible benefits, including
increased traffic on their pages
Audience development made easy.
Millions of users use Disqus to participate online and we make
that valuable for publishers in a way that they can measure.
61startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
57. Proprietary and Confidential
THE
DISQUS
ECOSYSTEM
A COMMUNITY
ECOSYSTEM is the
foundation of our business.
USERS
GOALS
Discovery
Community
ADVERTISERS
GOALS
Acquisition
Retention
PUBLISHERS
GOALS
Engagement
Growth
Revenue
62@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
58. Proprietary and Confidential
DISQUS – Value prop for publishers
FOR
· Publishers, like online media or bloggers
WHO CARE ABOUT
· Building more engaged, loyal audiences directly on their sites
OUR PRODUCT IS
· The most widely used discussion platform online
THAT PROVIDES
· An “engagement management platform” for publishers, and
· direct reach into millions of engaged community participants online
UNLIKE
· Social networks, which don’t properly serve the needs of publishers
· Or white-label software, which doesn’t provide the wide network reach of users
63@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
59. Proprietary and Confidential
For those in the developing world
Who are dissatisfied with limited access to diagnosis
Our product is a patterned paper-based diagnostic technology
That provides low-cost, easy-to-use, point-of-care diagnostics
Unlike no diagnosis
Diagnostics For All - Alok
64@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
60. Proprietary and Confidential
Before
Need
After
Solution
53%
of Rwandan women
cannot afford healthcare
26%
of Rwandan women
live too far from a hospital
[1] National Institute of Statistics of Rwanda (NISR) [Rwanda], Ministry of Health
(MOH) [Rwanda] http://www.measuredhs.com/publications/publication-fr259-
dhs-final-reports.cfm
Point-of-care
Minimal training required
Cost = 1¢
Diagnosis by telemedicine
Image: http://www.trust.org/alertnet/news/alertnets-top-20-big-ideas-that-dont-
cost-the-earth/
DFA
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NO current solution => huge
NO infrastructure required
NO training required
NO time required
Customers Gain/Pain ratio = ∞
DFA Gain/Pain
66@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
62. Proprietary and Confidential
At-risk pregnancy
Liver function
• 8 million affected globally
• conducting ~700 person
trial in Vietnam
• test for ALT/AST enzymes
• cost: $14 v. 1¢ (DFA)
Child nutrition
Small farmer support
Customer ‘pain’ is real pain
DFA Example
67@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
63. Proprietary and Confidential
How thoroughly should you define?
A little and then iterate?
or
A LOT and then execute?
68@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
64. Proprietary and Confidential
How thoroughly should you define?
“A problem well stated is a
problem half solved”
Charles Kettering
A little and then iterate?
or
A LOT and then execute?
69@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
65. Proprietary and Confidential
• Case studies
– Actifio
– Apperian
– Disqus
– DFA
– uTest
Follow online
www.startupsecrets.com
@mjskok
/mjskok
linkedin.com/in/mjskok
bit.ly/mjskok-google
bit.ly/mjskok-youtube
Thank you…
70@mjskok startupsecrets.comBuilding a Compelling Value Proposition @underscorevc