Idea to Startup
- 1. Idea to Startup Startup Istanbul 2016 Vladimir De Franceschi Vivek Boray
- 2. Why markets matter 1) No Customers = No Business therefore, market is ALWAYS right 2) Cheapest Cash = Customer Cash 2) Customer Cash = Freedom 2) Antidote to Self-Delusion (KPIs)
- 3. So you want to start a startup 1) To Clone or Not to Clone? Depends 2) Lifestyle Business. Worth it? 2) Venture fundable business. Not easy
- 7. TAM = Your Total Available or Addressable Market (everyone you wish to reach with your product) SAM = Your Segmented Addressable Market or Served Available Market (the portion of TAM you will target) SOM = Your Share of the Market (the subset of your SAM that you will realistically reach – particularly in the first few years of your business) Defining the Market
- 8. Learn it, Know it, Live it Know your customer Know your resources (money, time, people) Find the path of least resistance to profitability: Distribution strategy Distribution Strategy Product
- 9. Startup Realities Never enough money Never enough time Never enough people
- 10. Where is the market? I D $ 0 I D $ 0 . . . Validation under Conditions of Uncertainty
- 11. Find the Success Loop Footnote: Doing nothing = competition
- 12. • Startups begin with hypotheses about a customer problem or need • Founders talk to customers to discover and validate whether the total solution solves that problem or addresses that need • If, and not only if, there are no “buy signs” from the customer or customers repeatably point out missing features, does the product change • Collecting feature lists and holding focus groups are for established companies with existing customers looking to design product line extensions http://steveblank.com/2009/11/30/customer-development-is-not-a-focus-group/ Steve Blank’s Lessons Learned
- 13. Gartner – Research Forrester Group – Research iCD Research – Research eMarketer – Research Chubby Brain – Research research.google.com – Research CrunchBase – Startup company and people profiles Compete.com – Traffic analytics Quantcast.com – Traffic analytics Alexa – Traffic analytics CompareN – Aggregate site traffic and compare web stats Bureau of Labor Statistics – Gov’t collected data and projections Internet Archive – Research historical versions of websites Mechanical Turk – Amazon’s survey tool QuestionPro – Survey tool RivalMap – Web app for market information Resources