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You Have a Product. Now What??
- 1. You Have A Product. Now What?? #bcn14ProductNowWhat
- 2. Who We Are Brian Cauble, CEO-Changeable Andrea Walker, COO-Changeable
- 3. “Don’t judge each day by the harvest you reap but by the seeds you plant .” –Robert Louis Stevenson
- 7. Mistake #1-No Market Validation
- 8. Johnny spent over $50k on website $20k on logo and collateral $10k on online advertising $40k fancy office space and equipment ! Total: $110k pre-revenue
- 9. Johnny spent over $50k on website $20k on logo and collateral $10k on online advertising $40k fancy office space and equipment ! Total: $110k pre-revenue Mistake #2-Not being lean with budget
- 10. Johnny was an expert in apple planting but knew nothing about sales/marketing or technology.
- 11. Johnny was an expert in apple planting but knew nothing about sales/marketing or technology. Mistake #3-wrong team
- 17. Mistake #6-no marketing/sales plan
- 18. Mistake #1-No Market Validation What to do: ! 1.Challenge Your Assumptions ! 2.Understand Current Solutions to Problem
- 19. Mistake #1-No Market Validation How to do it: ! Test 1.Get into your prospects shoes ! 2.Show your product/possible solution ! 3.Landing pages/sign up forms/online ads ! 4.Try to sell
- 20. Mistake #2-Not being lean with budget What to do: ! 1.Re-evaluate your costs ! !
- 21. Mistake #2-Not being lean with budget How to do it: ! 1.Define a “true” MVP ! 2.Cloud services ! 3.Get rid of “fancy” ! 4.Recruit true believers
- 22. Mistake #3-Wrong team What to do: ! 1.Define your values/mission ! 2.Create a list or roles/responsibilities ! 3.Evaluate your current team
- 23. Mistake #3-Wrong team How to do it: ! 1.Create a BHAG ! 2.List your values/anti-values ! 3.Map people to roles (now, soon, and someday) ! 4.Personality/strength test your team
- 24. Mistake #4-Bad Market What to do: ! 1.Market Analysis ! 2.Business Model/Lean Canvas ! 3.Explore alternative industries/models !
- 25. Mistake #5-Unrealistic metrics What to do: ! 1.Define your key metrics (KPIs) ! 2.Implement a CRM !
- 26. Mistake #6-No marketing/sales plan ! What to do: ! 1. Create a executable marketing roadmap ! 2. List monthly deliverables & which channels to test ! 3. Hold yourself accountable to milestones ! 4. Network/Start selling
- 27. Mistake #6-No marketing/sales plan ! ! How to do it in one month: ! 1. Week One-Two • Market research (surveys, interviews, competitive analysis, calls) ! 2. Week Three • Figure out marketing channels based on research ! 3. Week Four • Pick a couple to test with one target group ! !
- 28. Recap Mistake #1-No Market Validation Mistake #2-Not being lean with budget Mistake #3-Wrong team Mistake #4-Bad Market Mistake #5-Unrealistic metrics Mistake #6-No marketing/sales plan ! !
- 29. Recap Fix #1-Test & Validate Fix #2-Trim cost as much as possible Fix #3-Define your values/understand your team Fix #4-Bad Market Fix #5-Analyze market and models Fix #6-Marketing roadmap ! !
- 30. Thank You! andrea@whychangeable.com brian@whychangeable.com www.whychangeable.com