Unicorn Ventures Accelerator - The Startup Method
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The startup method outlined by Unicorn Ventures consists of four steps: organizing information, syndicating the platform, boosting market awareness, and monetizing the user base. Each step involves specific tasks such as creating deliverables and identifying target customers to ensure a successful startup launch. The framework aims to simplify the process of establishing a startup while ensuring complete coverage of essential aspects.
Unicorn Ventures Accelerator - The Startup Method
- 1. The Startup Method Unicorn Ventures
- 2. The Startup Method The startup method includes four steps that are MECE Step one Organize Organizing information including foldering & deliverables Step two Syndicate Building the initial version of the platform Step three Boost Targeting and moving via value communication the target through the buying spectrum Step four Monetize Taking signups from free users to paying users
- 3. Introduction to the Startup Method Before we get into describing the details of the specific steps of the startup method, let’s discuss the steps and how they fit together as a whole. The objective of the entrepreneur can be broken down into four distinct phases, each complete with a different set of capabilities and functionalities. At first, our initial task is to organize information related to our startup. This means foldering & documenting all aspects of our startup. Our second task is to build the platform which will serve as the product. This will allow us to have something to go to market with and is called syndicating. Second, we are to build the awareness of the platform in our target markets. This means moving our target people through the buying spectrum and is called boosting. Finally, we to turn the utilization of our platform into a profit-center. This is called monetizing. Ultimately, this is the most simple method of doing a startup while being entirely complete.
- 4. Step 1: Organize a. Accounts i. Google Drive ii. Gmail b. Foldering i. Portfolio folder 1. Folder for each startup 2. Excel with accounts & passwords for each startup c. Deliverables i. Logo ii. App icons iii. 1 page pdf iv. 10 page ppt v. 25 page pdf white paper vi. createspace 50 page book vii. press release viii. social media account (fb page, google page, IG page, twitter acct)
- 5. Step 2: Syndicate 1. Syndicate a. Concept & business model in terms of NPV (net present value) b. MVP of platform - website (wordpress) - mobile app (IOS & Android) c. MVP of promo material - 1 page pdf - 10 page ppt - 25 page pdf white paper - createspace 50 page book - press release - social media account (fb page, google page, IG page, twitter acct)
- 6. The Creation of Customers The creation of customers includes the adoption cycle & the diffusion process The Adoption Cycle: Traces the buyer as he moves through the five states of: 1. Awareness - The buyer is made aware of the product or service 2. Interest - The buyer thinks that it is a good idea and likes it 3. Conviction - Then thinks it would work for me 4. Trial - Try to see if meets expectations 5. Repeat - If meets expectations, willing to repeat Step 3: Boost
- 7. Step 3: Boost Continued The Diffusion Process: Covers how initial buyers enter the market where the order is called the diffusion of innovation: 1. Innovators 2. Early adopters 3. Early majority 4. Late majority 5. Laggards Takeaways: 1. Find the opinion leaders in each market 2. Seek the innovators when launching a new product/service 3. Follow the natural progression of innovation
- 8. Step 3: Boost Continued Sales Paradigm: Ultimately, it doesn’t matter who they are or what they say. The goal is to demonstrate value to move them through the buying spectrum towards a purchase. The key is doing it enough to get to the law of averages meaning that over a large enough number, a percentage will close. The target should be 80 calls and emails a day. 8 DM convos. 2 pitches. 1 close a day. a. Target identification - who would be a good buyer? Build your list of most likely buyers. - the person that pays you - the person that influences the person who pays you (10 to 20) - your supporters b. Open - open with saying you have a promotion that we wanted to extend you. I want to take 5 minutes and see if that will be a fit for you. Send them material of value over email and open it while on phone. - who are your targets and what online communities are they on? Join them, send value material, ask for email, communicate by email, then phone, repeat. These people become leads which become customers - have a gmail email for each startup c. Pitch Appt - demonstrate value in material and then to your site. d. Demonstrate value e. Ask for the close & timeline for buying decision - have them sign up over the phone
- 9. Step 4: Monetize Monetization must be thought of from the beginning of the startup. The business model and future business model must be taken into consideration before beginning the project. Monetization options: 1. Advertising 2. Subscription 3. Fee for service 4. Ticket sales
- 10. Applications 1. Investment Banking University 2. Dating University 3. Marriagebook 4. Asiabook 5. Businessbook 6. Fashionbook 7. FundLinked 8. Football Developmental League