Startups 101: How To Go From Idea to Liftoff by GW Entrepreneurs
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Trever Faden, Co-President of the GW Entrepreneurs, kicked off the second semester meeting series with a presentation about the very basics of startups & minimum viable products (MVPs). Referencing key free/low-cost tools, Trever presented a clear set of steps that a young entrepreneur MUST take before the first product is ever built. Using these tools, entrepreneurs can fully understand their target market, the needs of their customers, and build a sizable lead list filled with customers ready and able to purchase your product or service when it is built & launched. Use this presentation to lift-off your startup idea and GET IT IN FRONT OF YOUR CUSTOMERS. Learn more at: www.gwentrepreneurs.com or www.treverfaden.com
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Startups 101: How To Go From Idea to Liftoff by GW Entrepreneurs
- 1. Startups 101: From idea to liftoff
- 2. Who am i @treverfaden • Partner @ dogfishlabs • Co-prez @ Gw Entrepreneurs • Addict of new business innovations
- 4. What is a startup? “a Human institution* dedicated to creating something new under conditions of extreme uncertainty” -Eric Ries Author, The Lean startup
- 5. Why startup?
- 6. Why startup? • Must love risk! • Maximize your economic value • be your own boss • Control your own destiny
- 7. How the hell do I start up?!
- 9. Minimum viable product “that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least amount of effort.” -Eric Ries Author, The Lean startup
- 10. Minimum viable product 1) Job discovery 2) Customer discovery 3) Market testing 4) Lead generation
- 11. Jobs to be done (JTBD) What is the job your customer is hiring your service for? Examples: milkshakes Harvard business school 37 signals The rewired group
- 12. Job discovery Action item Ask why?!
- 13. Customer discovery Most people won’t want your product!
- 14. Customer discovery Who has the job you’re solving?
- 15. Customer discovery Stop assuming & Start EXPERIMENTING!
- 16. Customer discovery 1) Market research 2) Make landing pages 3) Run ads 4) Iterate
- 17. Market research Google consumer surveys • Ask your target demographic a question • Screen respondents • Get answer to question • Get insights into demographic breakdown $75 Coupon
- 18. MVP step #2 Fake it
- 19. Landing pages 1) Fast (no coding skill needed) 2) Free 3) A/b test 4) Single conversion goal
- 20. LANDING PAGES
- 21. Run ads
- 22. Run ads Ad networks 1) Facebook 2) Google adwords 3) Linkedin ads 4) Twitter ads 5) Stumbleupon 6) Pinterest
- 23. Run ads b2c b2b Ad types 1) Direct ads 2) Sponsored content 3) Content marketing 4) Retargeted ads
- 24. Run ads 1) Highly targeted 2) Very cheap 3) Multiple display types 4) social $50 free Sponsored Promoted like post ads activities
- 25. Run ads 1) Keyword based 2) Variable pricing 3) Not Social $75 free
- 26. analyze
- 27. Analyze Useful tools tracking creeping 1) Google analytics 1) Rejoiner 2) woopra 2) sessioncam chatting stalking 1) Olark 1) Perfect audience
- 28. tracking Google analytics & woopra 1) How many people • New vs. Repeat visited your website visitors 2) How people got to your website • geography of visitors 3) What they’re doing on your website • Big data analytics 4) How long they’re on your website
- 29. chatting olark 1) See who is on your website in real time 2) Chat with your visitors 3) Visitors can chat with you 4 months free “silver” plan
- 30. creeping rejoiner 1) Capture customer information even if they don’t submit the form 2) Put “abandoned” customers in email pipeline trying to get them back to purchase
- 31. creeping sessioncam 1) Records your customers on your website 2) Watch how customers engage with your page a. Where they move their mouse b. What they click c. How they scroll 3) Generate heatmaps for your page
- 32. stalking Perfect audience 1) Auto-Targets facebook ads to people who have visited your site 2) Follows visitors around the web to display ads (omnipresence)
- 33. In summary
- 34. #1 Know the job you’re solving
- 35. #2 Talk to your customers!
- 36. #3 Fake it With a Landing page
- 37. #4 Run ads & Generate leads
- 38. #5 Come back To the Gw entrepreneurs meetings
- 40. What do you want to learn next? Text: (802) 744-0009 to vote A) PRODUCTIVITY TRICKS + TOOLS B) THE SECRETS OF PAID ONLINE ADVERTISING C) IDEA CREATION - BRAINSTORMING THE NEXT BIG THING D) PERSONAL ONLINE BRANDING