This is the presentation Jeffrey Beir & I gave at Harvard Innovation Lab on 7/23/2013. You’ve got a big idea addressing a huge market opportunity - should be no problem getting financed and building a successful company. But that’s not how real companies get built. In the engineering world, agile has replaced traditional waterfall methodologies because it lowers risk, improves predictability and allows for mid-course correction. The same applies when thinking about how you build your business. Abby and Jeffrey will present a framework for building your business with an agile mindset and explain why most companies should be built this way...

1. Vision to Viability
Agile Mindset for your Startup
Abby Fichtner
@HackerChick
Harvard Innovation Lab
Jeffrey Beir
@jbeir
seed2A

2. @jbeir | @HackerChick@jbeir | @HackerChick@jbeir | @HackerChick

3. Startup Stage?
Idea
Plan/Prototype
Building
Product in Market

4. Some startups get stuck in the mud
• Too big, or too small of an idea
• All product, no customer
• Surprised by external events
• Assuming a straight line
• Running out of money

5. 9 out of 10
New Products FAIL

6. @jbeir | @HackerChick
Single Biggest Predictor of Failure?

7. @jbeir | @HackerChick
Single Biggest Predictor of Failure?
Sticking to Initial Business Plan

8. @jbeir | @HackerChick@jbeir | @HackerChick

9. We DON’T Have All the Answers!
What should we DO About it?

10. Defer Decisions
Deliver Fast
AGILE Mindset
Iterate
Learn
Eliminate Waste

11. Agile Mindset:
Vision to Viability
Vision
Focus
Risks
Flexibility
Sequence
Value

12. VISION

13. @jbeir | @HackerChick

14. @jbeir | @HackerChick

15. @jbeir | @HackerChick@jbeir | @HackerChick
“To organize the
world’s information
and make it universally
accessible & useful”

16. @jbeir | @HackerChick@jbeir | @HackerChick
“To be the earth’s most
customer centric company;
to build a place where people
can come to find and discover
anything they might want to
buy online.”

17. @jbeir | @HackerChick@jbeir | @HackerChick
“To be the pulse of
the planet”

18. @jbeir | @HackerChick

19. @jbeir | @HackerChick

20. @jbeir | @HackerChick

21. What’s Your Big Vision?

22. FOCUS

23. GoBig
VISION

24. GoBig
VISION

25. @jbeir | @HackerChick

27. GoBig
GO SMALL
(dominate Small Market)
VISION

28. Minimal Viable
Company
Financeable
- oR –
Self-Sustaining

29. What’s Your MVC?

30. RISKS

31. Sources of Risk
IP
Competitors
Customers
Suppliers
Employees
Technology
Legislation

32. What’ Risks Are you Taking?

33. VALUE

34. How can I
demonstrate value?
Progress towards vision
User traction
Product/technology
Not the Kitchen Sink
Revenue

35. @jbeir | @HackerChick

36. @jbeir | @HackerChick @ashmaurya, Running Lean

37. @jbeir | @HackerChick @ashmaurya, Running Lean

38. What’s Your Most Important Metric
&
What are you doing to move it?

39. SEQUENCE

40. Riskiest Assumptions?
Can I Build It?
Can I Get People to Know About it?
Can I Make Money from It?

41. Can I Make Money from It?
Riskiest Assumptions?
Can I Build It?
Can I Get People to Know About it?

42. Milestone-
Driven
Development

43. MDD
Logical milestones
that achieve certain proof points,
and allow to you raise capital,
(ideally at an increased valuation).

44. MDD
Start with your MVC
• What (will I prove)?
• How (will I prove it)?
• When (and how much)?

45. @jbeir | @HackerChick
Half done on all elements isn’t financeable

46. @jbeir | @HackerChick
Prove something

47. Flexibility

51. Set interim milestones
Plan for rework
Build in Flexibility
Build the bare minimum
Test early and often
Add cushion

52. Agile Mindset:
Vision to Viability
Vision
Focus
Risks
Flexibility
Sequence
Value

53. But will I get financed?

54. How do I protect my downside?
What proof do you have that it will work?
You should be able to
answer these questions
Why is this a big opportunity?
How can I write a small check so I can see some proof?
what will you do next and how much more capital will you need?
What can go wrong?

55. Agile Mindset:
Vision to Viability
Vision
Focus
Risks
Flexibility
Sequence
Value

56. Jeffrey Beir, seed2A
@jbeir | seed2a.com
Abby Fichtner, i-lab
@HackerChick | HackerChick.com