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From a great idea to a great business

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From a great idea to a great business

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Ideas are a dime a dozen. What turns an idea to a winning business? What makes it exceptional?

How do startups born? What makes the super successful ones shine? And how come two different companies with the same idea will end up having such remarkably different solutions?

This presentation answers and discusses all these topics in detail, and more.

Ideas are a dime a dozen. What turns an idea to a winning business? What makes it exceptional?

How do startups born? What makes the super successful ones shine? And how come two different companies with the same idea will end up having such remarkably different solutions?

This presentation answers and discusses all these topics in detail, and more.

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From a great idea to a great business

  1. 1. very inspiring… …yet very impractical
  2. 2. constraints are a beautiful thing
  3. 3. about me
  4. 4. how to start up?
  5. 5. from a great idea to a great business
  6. 6. the problem is the solution
  7. 7. “If I had an hour to solve a problem I'd spend 55 minutes thinking about the problem and 5 minutes thinking about solutions.”
  8. 8. what is the problem you are trying to solve?
  9. 9. we’ll constantly refine the answer
  10. 10. who are you solving the problem for?
  11. 11. the escalator exercise
  12. 12. do they perceive it as a problem?
  13. 13. pain killer or vitamin
  14. 14. is it getting more, or less, relevant?
  15. 15. how are they solving the problem today?
  16. 16. solution
  17. 17. how do you intend to solve the problem?
  18. 18. throwing resources at it isn’t enough
  19. 19. 10x solution
  20. 20. barriers of entry
  21. 21. will they pay for it?
  22. 22. problem/solution fit
  23. 23. is this the right timing?
  24. 24. do you have the necessary skill-set?
  25. 25. what is your mvp?
  26. 26. how do you measure your progress?
  27. 27. focus on moving the needle
  28. 28. Thank You Omer Yarkowich omer.yarkowich@gmail.com

Notes de l'éditeur

  • We don’t have the time, money, resources, energy to make it. We are bound by constraints.
  • Constraints are where magic happens. Creativity, Innovation, Ingenuity, System —> method.
  • Been around startups since 2003. Freelance and mentor in the past 3. Focusing on turning a great idea into a great business.
  • The number #1 question many mentees didn’t know they were actually asking
  • The number #1 question many mentees didn’t know they were actually asking
  • Beautiful quote from Einstein. Entrepreneurs don’t give enough thought to what is the problem they are solving. This is way more difficult than it seems. Defining the problem and its related aspects is critical to success and often will take several iterations to crack.
  • Stop & think. What is the problem you are solving? Can you describe it in a sentence?
  • There is no such a thing as a product for everyone. People are different - demographics, culture, views, interests, needs, etc.

    The escalator exercise: sit next to the bottom of an escalator and watch people as they come down. Are they your customer? Can you imagine how they’re using it? How is the ideal client?
  • Sit next to an escalator or other big public area and watch the people come & go. Is this your client? How about this? Why not? Why yes? What did you learn from the process?
  • How do people solve the problem today?
    What makes your solution 10 times better than current solutions?
  • Adaptation as a way to survive and thrive

    Texas Blind Salamander Found only in 7 caves in San Marcos Pool, Texas.
    No light = no eyes. Black dots are non-functional, remnants
    lost all pigments on skin
    developed external gills to breath underwater
    they’re red since blood flows there to get oxygen directly from water
    legs very thin since they’re in the water all the time - no need to support weight
    Tails look like fins
    Quick prey capture, many sharp teeth to prevent from escaping
    read chemical cues from water to tell other salamanders and even male\female
  • the right team
    Historically, most tech startups have multiple founders, especially the ones that have made it big. Think Steve & Woz, Larry & Sergey, Bill & Paul, Hewlett & Packard, Brian & Joe & Nathan (AirBnb), Drew & Arash (Dropbox), Jack & Noah & Ev & Biz (Twitter), Ben & Evan & Paul (Pinterest), etc.
  • Measuring your progress
    What are your 1-3 core activities and how do you measure them?
  • You only got a limited number of chips. Therefore, you have to focus your efforts on highly value add activities - those that move the needle on your main KPI
  • What assumption did you take before taking your first step? What do you need to prove in order to move forward?

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