A startup education prior to diving in
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In Ideasinc, we have discovered and combine cutting edge concepts and framework tools that have proven useful to help startups discover uncertainties sustainably. This leads to better product market fit ... Business Model Canvass + Customer Development / Lean Startup + Design Thinking (we adding Future Thinking very soon, so watch this space ...)
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A startup education prior to diving in
- 1. HOW WE HELP STARTUPS BEFORE THEY DIVE IN @khairurejal
- 2. EVERYBODY HAS A PLAN UNTIL THEY GET PUNCH IN THE FACE MIKE TYSON
- 5. In a more robustand dynamic manner!
- 21. When big companies ignore smaller markets, startups disruptively creep in ... ...#ideasinc.sg
- 25. USD2.5B
- 26. USD8.5B
- 28. SME Businesses people who need to communicate globally Free VOIP/ Free Calling skype.com service management payment provider software software developers mass customization software development cheap calls skype out service management software development payment provider
- 32. “students” advertisers Free Search google.com search platform platform cost Targeted Ads free! keyword auction platform management service management google.com platform management expand reach platform cost 3rd Party Ads content owners expand reach service management keyword auction
- 55. KNOWN
- 56. Customer feedback is integral to the lean startup, and ensures that the producer does not invest time designing features or services that consumers do not want.
- 57. Do you understand what your customer wants?
- 58. “Most startups fail due not to the failure of product development but due to the lack of customers”
- 59. Ask yourself, does my product address any pain?
- 60. CUSTOMER DISCOVERY 1 CUSTOMER CREATION 3 COMPANY BUILDING 4 CUSTOMER VALIDATION 2 KNOW YOUR CUSTOMER! PIVOT
- 65. GET OUT OF THE BUILDING
- 66. But, what do you do when you get out of the building?
- 70. What was interesting with that video?
- 72. VALIDATION
- 73. KNOWN
- 74. CUSTOMER SEGMENT VALUE PROPOSITION HYPOTHESIZING The different groups of people or organizations that you are reaching out to or aim to serve. The products and/or services that create value for the Customer.
- 75. CUSTOMER SEGMENT VALUE PROPOSITION HYPOTHESIZING ‣ Needs ‣ Behaviour ‣ Price sensitivity ‣ Demographic ‣ Geo-Culture ‣ Life-style ‣ Profession ‣ etc. ‣ Newness ‣ Improved Performance ‣ Greater Customization ‣ Getting-the-job-done, and better ‣ Greater Design ‣ Brand/ Status ‣ Price ‣ Risk Reduction ‣ Convenience
- 76. SOLUTION HYPOTHESIS CUSTOMER HYPOTHESIS 1 3 orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil imperdiet doming id quod mazim placerat facer possim assum. Typi non habent claritatem insitam; est usus legentis in iis qui facit eorum claritatem. Investigationes demonstraverunt lectores legere me lius quod ii legunt saepius. Claritas est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum. Mirum est notare quam littera gothica, quam nunc putamus parum claram, anteposuerit litterarum formas humanitatis per seacula quarta decima et quinta decima. Eodem modo typi, qui nunc nobis videntur parum clari, fiant sollemnes in futurum. PROBLEM HYPOTHESIS 2 orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil orem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi enim ad minim veniam, quis nostrud exerci tation ullamcorper suscipit lobortis nisl ut aliquip ex ea commodo consequat. Duis autem vel eum iriure dolor in hendrerit in vulputate velit esse molestie consequat, vel illum dolore eu feugiat nulla facilisis at vero eros et accumsan et iusto odio dignissim qui blandit praesent luptatum zzril delenit augue duis dolore te feugait nulla facilisi. Nam liber tempor cum soluta nobis eleifend option congue nihil
- 81. EARLY ADOPTERS # 1 - do the customers actually have the problem #2 - if there was a solution, would they buy it? #3 - would they buy it from us?
- 82. Text Fail fast to succeed sooner
- 83. SUCCEED SOONER FAIL FAST TO
- 87. MINIMUM VIABLE PRODUCT MVP helps entrepreneurs start the process of learning as quickly as possible. MVP does not just merely answer product design or technical questions, but often as well test fundamental business hypothesis Hi! What do you think of this?
- 88. MINIMUM VIABLE PRODUCT MVP helps entrepreneurs start the process of learning as quickly as possible. MVP does not just merely answer product design or technical questions, but often as well test fundamental business hypothesis Wow! This is totaly what I have been looking for!
- 89. VALIDATION I’ll pay you right now at half the cost that you would charge others when you launch! Sure, here are my details and I would love to know more :) Ok, I’ll “like” your Facebook page
- 90. NEED WANT Where have you been, I must have this! That’s Really nice, but ...
- 91. VANITY METRIC The real data is retention and repeat usage!
- 92. Get ready to pivot!
- 93. ABOUT PIVOT 1. Pivots are restatements of your business model, not synonymous with change. 2. Pivots are a consequence of learning about your business, not just your product (i.e. the business is not sustainable!) 3. Step away and zoom out ... 4. Pivot is part of founder’s visioning process, through deep considerations leading to that decision.
- 97. Zoom-in pivot: What previously was considered a single feature in a product becomes the whole product. This highlights the value of “focus”. Zoom-out pivot. In the reverse situation, sometimes a single feature is insufficient to support a customer set. In this type of pivot, what was considered the whole product becomes a single feature of a much larger product.
- 98. Customer segment pivot: Your product may attract real customers, but not the ones in the original vision. In other words, it solves a real problem, but needs to be positioned for a more appreciative segment, and optimized for that segment. Customer need pivot. Early customer feedback indicates that the problem solved is not very important. This requires repositioning, or a completely new product, to find a problem worth solving.