RRC Directions Conference 2010

1. Directions Conference 2010 Launching Your First Web Startup Kyle Geske Red River College / Babylolly.com Launching Your First Web Startup Kyle Geske – Directions 2010

2. About Me Kyle Geske Born and Raised in Pegcity (Fort Rouge) Launching Your First Web Startup Kyle Geske – Directions 2010

3. Graduation Class of 2000 Launching Your First Web Startup Kyle Geske – Directions 2010

4. Computer Engineer Launching Your First Web Startup Kyle Geske – Directions 2010

5. Worked as Design Engineer Hardware, Software, Firmware, Etc. Launching Your First Web Startup Kyle Geske – Directions 2010

6. Programming Instructor Launching Your First Web Startup Kyle Geske – Directions 2010 Next: BabyLolly

7. BabyLolly.com + Launching Your First Web Startup Kyle Geske – Directions 2010

8. BabyLolly.com is… A babybook for parents to share their baby's life with close friendsand family. Launching Your First Web Startup Kyle Geske – Directions 2010

9. BabyLolly.com is… A private social networkused to share photos, journals, videos. Launching Your First Web Startup Kyle Geske – Directions 2010

10. BabyLolly.com Brainstorming started in July of 2007. We launched in March 2009. Launching Your First Web Startup Kyle Geske – Directions 2010

11. BabyLolly.com - Fall 2007 Launching Your First Web Startup Kyle Geske – Directions 2010

12. BabyLolly.com - Now Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Press

13. BabyLolly.com - Press Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Journey

14. It’s Been a Journey Launching Your First Web Startup Kyle Geske – Directions 2010 Next: You

15. Let’s Talk About You Launching Your First Web Startup Kyle Geske – Directions 2010

16. Internet Millionaire? Launching Your First Web Startup Kyle Geske – Directions 2010

17. Full of Great Ideas? Launching Your First Web Startup Kyle Geske – Directions 2010

18. If you build it they will come Launching Your First Web Startup Kyle Geske – Directions 2010

19. It’s Not That Easy What?!?! Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Steps to Success

20. Steps to Startup Success? Launching Your First Web Startup Kyle Geske – Directions 2010 ->

21. Steps to Success - #1 Find Your Niche Launching Your First Web Startup Kyle Geske – Directions 2010

22. Steps to Success - #2 Develop a Minimum Viable Product; Iterate. Launching Your First Web Startup Kyle Geske – Directions 2010

23. Steps to Success - #3 Market the Frack out of Your Site Launching Your First Web Startup Kyle Geske – Directions 2010

24. Steps to Success - #4 Go Viral; User Driven Marketing Launching Your First Web Startup Kyle Geske – Directions 2010

25. Steps to Success - #5 Compete Fiercely Launching Your First Web Startup Kyle Geske – Directions 2010

26. Steps to Success - #6 Profit! Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Step 1 Niche

27. Step 1: Finding Your Niche Be Narrow Be Different Be Casual Attribution: Evan Williams Launching Your First Web Startup Kyle Geske – Directions 2010

28. Niche: Be Narrow Focus on the smallest useful problem you can solve. Launching Your First Web Startup Kyle Geske – Directions 2010

29. Narrow Enough? Launching Your First Web Startup Kyle Geske – Directions 2010

30. BabyLolly Feature Usage Launching Your First Web Startup Kyle Geske – Directions 2010

31. BabyLolly Feature Usage Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Narrow Sites?

32. Twitter is Narrow What are you doing right now in 140 characters or less? That’s it. Launching Your First Web Startup Kyle Geske – Directions 2010

33. Niche: Be Casual Fit in with our busy lives without requiring a lot of commitment. Launching Your First Web Startup Kyle Geske – Directions 2010

34. Niche: Be Different Launching Your First Web Startup Kyle Geske – Directions 2010

35. Be Different Scientifically The Google Keyword Tool See Advertiser Competition Based on Keywords Launching Your First Web Startup Kyle Geske – Directions 2010

36. Be Different: Cheese Searching for Organic Cheese Look, a “Cheese Drink” niche market! Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Step 2 Development

37. Step 2: Development Find Business Partners with Complimentary Skill Sets. Launching Your First Web Startup Kyle Geske – Directions 2010

39. Creative Communication: Articles, Ad Copy, Site Copy

40. Digital Multimedia Technology: Logo Design, Site Design

41. Business Administration: Marketing, Accounting, Securing FundsLaunching Your First Web Startup Kyle Geske – Directions 2010 Next: Minimum Viable Product

42. Minimum Viable Product The minimum set of features needed to learn from early adopters. Attribution: Eric Ries Launching Your First Web Startup Kyle Geske – Directions 2010

43. Your First Minimum Product Build a single webpage brochure for your site, nothing else. Include a “sign up” or “buy now” button. Launching Your First Web Startup Kyle Geske – Directions 2010

44. Smoke Test Example Launching Your First Web Startup Kyle Geske – Directions 2010

45. Buy Some Ads Drive traffic to your smoke test webpage with online advertising. Launching Your First Web Startup Kyle Geske – Directions 2010

46. Minimum Product Tracking Track how many people click on the ads, and how many continue on to click the buy/sign-up button. Launching Your First Web Startup Kyle Geske – Directions 2010

47. Gather Emails Ask everyone who clicks on your buy/sign-up button for their email address. These people will be your early adopters. Launching Your First Web Startup Kyle Geske – Directions 2010

48. Is the Product Viable? If your ad click-through rates are high, and you’ve gather a large number of emails (1000s) you should proceed. The next step is to survey the users who provided you with emails. Allow them to drive the next version of your product. Launching Your First Web Startup Kyle Geske – Directions 2010

49. BabyLolly MVP How many parents did we consult about our product before we began our development? Launching Your First Web Startup Kyle Geske – Directions 2010

50. Parents Consulted None! Launching Your First Web Startup Kyle Geske – Directions 2010

51. Parents Consulted Zero! Launching Your First Web Startup Kyle Geske – Directions 2010

52. Parents Consulted Okay, maybe one or two, but still… Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Step 3 Marketing

53. Step 3: Marketing Get Noticed. Launching Your First Web Startup Kyle Geske – Directions 2010

54. User Acquisition Cost to acquire vs. Lifetime Value of Customer A profitable business model Launching Your First Web Startup Kyle Geske – Directions 2010

55. BabyLolly Marketing Facebook Advertising Targeted by location: Canada, USA, UK Targeted by profile keywords: baby, mother, father, parent Statistics for March 2009 Impressions: 3,050,533 Clicks: 623 Click Rate: 0.02% Cost per Click: $0.24 USD Launching Your First Web Startup Kyle Geske – Directions 2010

56. BabyLolly Marketing Google AdWords Advertising Targeted by: Language and Keyword Statistics for March 2009 Impressions: 1,119,016 Clicks: 692 Click Rate: 0.06% Average Cost per Click: $0.37 USD Launching Your First Web Startup Kyle Geske – Directions 2010

57. BabyLolly Cost to Acquire Google Statistics for March 2009 Impressions: 1,119,016 Clicks: 692 Average Cost per Click: $0.38 USD Sign-Ups from Google Ads: 54 Cost to Acquire One User:$4.87 USD Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Step 4 Viral

58. Step 4: Go Viral Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for staggering message exposure and influence. Launching Your First Web Startup Kyle Geske – Directions 2010

59. Memes Internet Meme: Catchphrase, video or image that spreads rapidly from person to person via email, IM, social networks, etc. Launching Your First Web Startup Kyle Geske – Directions 2010

60. meow-reader.tumblr.com Launching Your First Web Startup Kyle Geske – Directions 2010

61. meow-reader.tumblr.com Launching Your First Web Startup Kyle Geske – Directions 2010

62. Meow Reader Stats Unique Visitors After One Month: 7,9167 Unique Vistors After One Year: 11,601 Launching Your First Web Startup Kyle Geske – Directions 2010

63. Viral Marketing User driven marketing allows your users to market on your behalf. http://tellafriend.socialtwist.com/ Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Invites

64. BabyLolly Invites Launching Your First Web Startup Kyle Geske – Directions 2010

65. Viral Growth Factor Viral Growth Factor = U * I * A U = % of users who invite other people I = average # of people that they invite A = % of user who accepted an invitation Example:U=40% I=12 A=30% VGF = 40% * 12 * 30% = 1.44 Launching Your First Web Startup Kyle Geske – Directions 2010

66. Viral Growth Factor A VGF greater than one means organic exponential growth. Launching Your First Web Startup Kyle Geske – Directions 2010 Next: Step 5 Compete

67. Step 5: Compete Fiercely Launching Your First Web Startup Kyle Geske – Directions 2010

68. Don’t Worry Every online business will eventually have competitors. Why worry about the inevitable? Launching Your First Web Startup Kyle Geske – Directions 2010

69. Don’t Overvalue Ideas There’s a reason we patent processes and not ideas. It’s the execution that matters. Launching Your First Web Startup Kyle Geske – Directions 2010

71. Pay per Use Service

72. Subscription

73. Physical or Digital Product

74. Freemium

75. Etc.Launching Your First Web Startup Kyle Geske – Directions 2010

76. Monetize Early The quickest way to test if you have a viable product is to charge for it. Launching Your First Web Startup Kyle Geske – Directions 2010 Next: BabyLolly Wrap up

78. We’ve learned a lot from our passionate early adopters.

79. Next up, global markets…Launching Your First Web Startup Kyle Geske – Directions 2010

80. BabyLolly in German Launching Your First Web Startup Kyle Geske – Directions 2010

81. Courage Wolf Says: Experience is what you get when you don’t get what you want. Launching Your First Web Startup Kyle Geske – Directions 2010

82. Questions or Suggestions? Email: kgeske@rrc.mb.ca BabyLolly: http://www.babylolly.com Slides:http://stungeye.com/startup