Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
When and How to Pivot
 Presented at Startup Lessons Learned
             23 May 2011


             David Binetti
        ...
Preface

• Share!
• No Original Thoughts...
• We’re Hiring! slideshare.com/votizen

                                      ...
A Bit About Me

• Business Model Designer at Votizen
• Mentor at Hacker Dojo
• Six Startups both Agile and Fixed

        ...
A Bit About You

• Startups?
• Something else?
• Unsure?

                        @dbinetti
High Finance




               @dbinetti
High Finance


33%         33%




      33%




                           @dbinetti
High Finance


      10%
                  30%

30%



            30%




                                 @dbinetti
High Finance


       13%         20%

20%
                     20%
  7%
             20%




                            ...
High Finance


              12%
  20%
                    12%


20%                 12%
                5%
        19%


...
High Finance

                          Sells for: $50M
              12%
  20%
                    12%   Your stake: ~$6M...
High Finance
      Startup    Google
Y1      0         175
Y2      40        175
Y3     120        200
Y4     120        2...
High Finance
      Startup    Google
Y1      0         175
Y2      40        175
Y3     120        200
Y4     120        2...
High Finance
            Startup    Google
  Y1          0         175
  Y2          40        175
  Y3         120       ...
High Finance
            Startup      Google
  Y1           0          175
  Y2           40         175
  Y3          120...
High Finance


• You must be high if you think this makes
  financial sense.
• But money isn’t everything.
• What makes the...
@dbinetti
@dbinetti
@dbinetti
@dbinetti
Why Lean?

• Mitigates your reality distortion field.
• Helps avoid (expensive) false positives.
• Converts market risk to ...
Lean Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                ...
Lean Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                ...
Lean Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                      ...
Lean Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                  ...
On Pivots




            @dbinetti
On Pivots




            @dbinetti
On Pivots

• Pivots are restatements of your business
  model; not synonymous with change.
• Pivots are a consequence of l...
Our Vision

• Social media is disrupting Politics.
• Voters can now join with each other and
  connect to their officials d...
The Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                 ...
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Facebook for ...
1.0         1.1          2.0         3.0   4.0

 Metric                         Description

Acquisition   Creates account...
The Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                       ...
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v....
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v....
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v....
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  M...
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  M...
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  M...
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  M...
1.0        1.1         2.0         3.0    4.0
• Did: Same process as before
• Learned: Missing something important.
  Metr...
1.0        1.1         2.0         3.0    4.0
• Did: Same process as before
• Learned: Missing something important.
  Metr...
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                   ...
When to Pivot

• Surveys, A/B testing, landing pages, etc. are
  all good ways to find a local maximum for a
  given set of...
How to Pivot

• Put down the dry erase and step away from
  the whiteboard.
• You earned what you learned; don’t flail.
• V...
In My Case
• Looked past the product to the nature of
  the problem.
  • “I’ve always wanted to get involved. This
    mak...
The Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                 ...
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple messag...
The Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                       ...
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max...
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max...
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max...
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                   ...
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple involv...
Focus on Revenue

• Website, analytics, dashboards.
• Custom work specific to your issue.
• People loved it! Let’s Build!

...
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no s...
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no s...
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no s...
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no s...
Don’t Underestimate


• Easy to fool yourself
 • “Show Yourself the Money”
• This is why PR and vanity metrics are so
  da...
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                   ...
Learning

• Poor Sales Cycle (contract, cost, channel)
 • “I’m just not sure about this Twitter
    thing.”
• Make the eng...
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple involv...
Ad Words for Activism

• Special Delivery on a per-message basis
 • Only pay for value
• Initial sale: $200 first day.

   ...
1.0         1.1           2.0         3.0       4.0

•    Total investment at this point: ~$120K and 18 months.

•    Mode...
1.0         1.1           2.0         3.0       4.0

•    Total investment at this point: ~$120K and 18 months.

•    Mode...
Important Notes
• Iteration loops got tighter.
• Each validation justified a higher level of
  investment/engagement.
  • 1...
Summary

• Set Model so you know what your
  measuring and when you’re done.
• Use Metrics to find local maxima, not to
  fi...
Feedback

• bit.ly/sllconfdb
• slideshare.net/votizen
• @votizen

                           @dbinetti
Final Thought


                @dbinetti
@dbinetti
Upcoming SlideShare
Loading in …5
×

of

David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 1 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 2 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 3 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 4 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 5 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 6 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 7 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 8 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 9 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 10 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 11 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 12 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 13 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 14 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 15 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 16 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 17 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 18 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 19 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 20 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 21 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 22 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 23 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 24 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 25 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 26 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 27 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 28 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 29 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 30 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 31 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 32 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 33 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 34 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 35 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 36 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 37 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 38 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 39 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 40 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 41 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 42 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 43 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 44 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 45 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 46 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 47 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 48 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 49 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 50 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 51 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 52 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 53 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 54 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 55 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 56 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 57 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 58 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 59 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 60 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 61 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 62 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 63 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 64 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 65 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 66 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 67 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 68 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 69 David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 Slide 70
Upcoming SlideShare
How and When to Pivot - Lean Startup Principles Applied
Next

29 Likes

Share

David Binetti Lean Startup Votizen Pivot at SLLCONF 2011

Presentation by David Binetti

Related Books

Free with a 30 day trial from Scribd

See all

Related Audiobooks

Free with a 30 day trial from Scribd

See all

David Binetti Lean Startup Votizen Pivot at SLLCONF 2011

  1. When and How to Pivot Presented at Startup Lessons Learned 23 May 2011 David Binetti @dbinetti
  2. Preface • Share! • No Original Thoughts... • We’re Hiring! slideshare.com/votizen @dbinetti
  3. A Bit About Me • Business Model Designer at Votizen • Mentor at Hacker Dojo • Six Startups both Agile and Fixed @dbinetti
  4. A Bit About You • Startups? • Something else? • Unsure? @dbinetti
  5. High Finance @dbinetti
  6. High Finance 33% 33% 33% @dbinetti
  7. High Finance 10% 30% 30% 30% @dbinetti
  8. High Finance 13% 20% 20% 20% 7% 20% @dbinetti
  9. High Finance 12% 20% 12% 20% 12% 5% 19% @dbinetti
  10. High Finance Sells for: $50M 12% 20% 12% Your stake: ~$6M 20% 12% Chance of Success: 10% 5% 19% Expected Value: $600K @dbinetti
  11. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 @dbinetti
  12. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 @dbinetti
  13. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 Expected 1.0 M 1.0 M @dbinetti
  14. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 Expected 1.0 M 1.0 M Variance 3.6 x 10^12 0 @dbinetti
  15. High Finance • You must be high if you think this makes financial sense. • But money isn’t everything. • What makes the entrepreneur different? @dbinetti
  16. @dbinetti
  17. @dbinetti
  18. @dbinetti
  19. @dbinetti
  20. Why Lean? • Mitigates your reality distortion field. • Helps avoid (expensive) false positives. • Converts market risk to technical risk @dbinetti
  21. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  22. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  23. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  24. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  25. On Pivots @dbinetti
  26. On Pivots @dbinetti
  27. On Pivots • Pivots are restatements of your business model; not synonymous with change. • Pivots are a consequence of learning about your business, not just your product. • Pivots are vision-driven, not testing-driven. @dbinetti
  28. Our Vision • Social media is disrupting Politics. • Voters can now join with each other and connect to their officials directly. • Facilitating meaningful connections will result in a new form of civic participation that will profoundly change our world. @dbinetti
  29. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  30. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Facebook for politics Problem People want a stronger voice Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (donations engine) Competitive Hyper-fragmented @dbinetti
  31. 1.0 1.1 2.0 3.0 4.0 Metric Description Acquisition Creates account Activation Certified authenticity Referrals Forwards to friends Retention Uses system thrice or greater Revenue Supports causes @dbinetti
  32. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  33. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  34. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  35. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  36. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  37. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  38. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  39. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  40. 1.0 1.1 2.0 3.0 4.0 • Did: Same process as before • Learned: Missing something important. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  41. 1.0 1.1 2.0 3.0 4.0 • Did: Same process as before • Learned: Missing something important. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  42. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  43. When to Pivot • Surveys, A/B testing, landing pages, etc. are all good ways to find a local maximum for a given set of assumptions. • If you’ve hit that local max and your model isn’t a sustainable business, it’s time to restate your assumptions (ie, to pivot.) @dbinetti
  44. How to Pivot • Put down the dry erase and step away from the whiteboard. • You earned what you learned; don’t flail. • Vision + Learning = Inspiration @dbinetti
  45. In My Case • Looked past the product to the nature of the problem. • “I’ve always wanted to get involved. This makes it so much easier.” • Put myself in the “let’s make it easier” mindset and got out of the building. • Lead to the inspiration for @2gov. @dbinetti
  46. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  47. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple messaging tool Problem Getting involved is hard Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (donations engine) Competitive Hyper-fragmented @dbinetti
  48. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  49. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  50. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  51. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  52. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  53. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple involvement tool Problem People want to be good citizens Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (campaign management) Competitive Hyper-fragmented @dbinetti
  54. Focus on Revenue • Website, analytics, dashboards. • Custom work specific to your issue. • People loved it! Let’s Build! @dbinetti
  55. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  56. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  57. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% ! Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  58. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% ! Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  59. Don’t Underestimate • Easy to fool yourself • “Show Yourself the Money” • This is why PR and vanity metrics are so dangerous. @dbinetti
  60. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  61. Learning • Poor Sales Cycle (contract, cost, channel) • “I’m just not sure about this Twitter thing.” • Make the engagement easy to try and show ROI out of the gate. @dbinetti
  62. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple involvement tool Problem People want to be good citizens Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (look like AdWords) Competitive Hyper-fragmented @dbinetti
  63. Ad Words for Activism • Special Delivery on a per-message basis • Only pay for value • Initial sale: $200 first day. @dbinetti
  64. 1.0 1.1 2.0 3.0 4.0 • Total investment at this point: ~$120K and 18 months. • Model has promise; raise some funds Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% 51% Activation 17% 90% 83% 85% 92% Referrals - 4% 54% 52% 64% Retention - 5% 21% 24% 28% Revenue - - 1% 0% 11% @dbinetti
  65. 1.0 1.1 2.0 3.0 4.0 • Total investment at this point: ~$120K and 18 months. • Model has promise; raise some funds Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% 51% Activation 17% 90% 83% 85% 92% Referrals - 4% 54% 52% 64% Retention - 5% 21% 24% 28% Revenue - - 1% 0% 11% @dbinetti
  66. Important Notes • Iteration loops got tighter. • Each validation justified a higher level of investment/engagement. • 1K - 10K - 100K - 1000K • Seek funding when you think you have more technical risk than market risk. @dbinetti
  67. Summary • Set Model so you know what your measuring and when you’re done. • Use Metrics to find local maxima, not to find a business. • Pivots are vision-driven. @dbinetti
  68. Feedback • bit.ly/sllconfdb • slideshare.net/votizen • @votizen @dbinetti
  69. Final Thought @dbinetti
  70. @dbinetti
  • mmika

    Mar. 29, 2020
  • PhilippDengler

    Jul. 8, 2019
  • perelandra

    Nov. 11, 2018
  • lauraseol

    Aug. 13, 2017
  • BobbyAsher1

    Aug. 9, 2017
  • FabiolaMarchiori1

    Nov. 7, 2015
  • williamgozali56

    Sep. 23, 2015
  • rajan

    Aug. 21, 2014
  • HuangDustin

    Aug. 4, 2014
  • lorenzo.bonora

    May. 29, 2014
  • fcalkan

    Sep. 11, 2013
  • dahmouni

    Jun. 20, 2013
  • sionie

    May. 30, 2013
  • stewartolivier

    Dec. 4, 2012
  • fdorneles

    Nov. 27, 2012
  • michcov

    Nov. 9, 2012
  • Tedesign

    Sep. 25, 2012
  • aborawake

    Feb. 1, 2012
  • jezhumble

    Oct. 19, 2011
  • iewoag

    Sep. 8, 2011

Presentation by David Binetti

Views

Total views

18,629

On Slideshare

0

From embeds

0

Number of embeds

1,934

Actions

Downloads

0

Shares

0

Comments

0

Likes

29

×