01.1 Introduction to The Startup Method
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01.1 Introduction to The Startup Method
- 1. An introduction to the start up method
- 2. Who am I?
- 3. ? What should you expect?
- 4. Learn how to think like expert entrepreneur
- 5. Learn what expert entrepreneurs do
- 6. Learn about the world’s top entrepreneur research studies
- 7. 1 175 studies Learn about the most important studies
- 8. 312 books Get a summary of the best business books ever written
- 9. Learn many things you would at a world class MBA program
- 10. Learn how the world’s best companies launch products
- 11. The process you will learn has produced many millionaires
- 12. This course has helped start many successful businesses
- 13. Similar quality courses sell for $5000 - $10000
- 14. ? What will you get from the course?
- 15. 3/10 weak start ups survive 9/10 strong start ups survive Source: Cooper (1994) Your business will become one with high odds of success
- 16. You will have an operating business with cash in the bank
- 17. Talk with industry experts You will develop deep industry knowledge
- 18. The best entrepreneurs have deep industry knowledge
- 19. 75% 25% No! Yes! Source: Fresser and Willard (1990) Industry experience?
- 20. Suppliers Customers Regulatory Bodies Accountants Potential Employees Industry Experts Lawyers Lead Consultants Users Industry Bodies You will develop a large network of useful contacts
- 21. ? How will the course work?
- 22. Lots of hard work
- 23. The first sale Question and interview customers Create legitimacy symbols Develop industry knowledge Attract partners Build social network and contacts Run experiments and build prototypes Perform lead user interviews Perform other tasks correlated with success Perform tasks that lead to success
- 24. Get out of the building
- 25. Suppliers Potential Regulatory Customers Bodies Industry Employees Indirect Competitors Industry Experts Direct Competitors Lead Competitors Users Industry Bodies Talk to at least 100 people (ideally 200 to 300)
- 26. Success BM 4 Learn BM 5 Learn BM 2 Learn BM 3 Learn BM 1 Be open to the idea your business can be improved
- 27. Keep a journal or blog of everything you are doing
- 28. Report back to us weekly with questionnaire & discussion
- 30. 1 Concept 2 Minimum Viable Business Model 3 Full Business Model 4 Company Growth Development The Start Up Method Process
- 31. 4 3 Company Growth Full Business 2 Model 1 Minimum Viable Business Model Concept Development This course The Start Up Method Process
- 33. 1 Concept 2 Minimum Viable Business Model 3 Full Business Model 4 Company Growth Development The Start Up Method Process
- 34. Guess? Guess? Guess? Guess? Guess? Guess? Guess? Guess? Guess? Sketch out a mini business plan (Business model canvas)
- 35. Suppliers Potential Regulatory Customers Bodies Industry Employees Indirect Competitors Industry Experts Direct Competitors Lead Competitors Users Industry Bodies Talk to the right people to see if the business idea will work
- 36. Key Key Activities Partners Key Cost Resources Structure Revenue Stream Learn Product Offering Guess X Distribution Customer Channels Segment Test Each part of the BM is tested using others knowledge
- 37. Guess? Guess? Test Test Guess? Guess? Guess? Test Test Test Guess? Guess? Test Test Guess? Guess? Test Test Keep changing until it makes sense in the real world
- 39. 1 Concept 2 Minimum Viable Business Model 3 Full Business Model 4 Company Growth Development The Start Up Method Process
- 40. The business model that takes the least amount of time, money and effort to set up Set up a minimum viable business
- 41. Restaurant Store at the flee market Set up a minimum viable business
- 42. Expensive Sophisticated Free Website Blog Set up a minimum viable business
- 43. Wine maker Wine Distributor Set up a minimum viable business
- 44. Guess? Guess? Guess? Guess? Guess? Guess? Guess? Guess? Guess? Sketch out a mini business plan (Business model canvas)
- 45. Success BM 4 Learn BM 5 Learn BM 2 Learn BM 3 Learn BM 1 The new BM will be improved BM based real world feedback
- 46. Test what marketing, operations, partnerships, etc work
- 47. Key Key Activities Partners Key Cost Resources Structure Revenue Stream Learn Product Offering Guess X Distribution Customer Channels Segment Test
- 48. Guess? Guess? Test Test Guess? Guess? Guess? Test Test Test Guess? Guess? Test Test Guess? Guess? Test Test Keep changing until it makes sense in the real world
- 49. Success BM 4 Learn BM 5 Learn BM 2 Learn BM 3 Learn BM 1 The new BM will be improved BM based real world feedback
- 50. 1 Concept 2 Minimum Viable Business Model 3 Full Business Model 4 Company Growth Development The Start Up Method Process
- 51. Instructions: * Form groups of 5 – 10 * In 30 seconds the groups must pass as many chips from point 1 to point 2 * Chips must pass through everyone's hands (left & right) * Only 1 chip in any members hand at a time * No sliding, throwing or pouring chips on the table * Preparation time 3 mins Round 2: Chip passing exercise 15 minutes
- 52. 1 point 10 points 1000 points How many points did your team score?
- 53. Instructions: * Form groups of 5 – 10 * In 30 seconds the groups must pass as many chips from point 1 to point 2 * Chips must pass through everyone's hands (left & right) * Only 1 chip in any members hand at a time * No sliding, throwing or pouring chips on the table * Preparation time 3 mins Round 2: Chip passing exercise 15 minutes
- 54. 90 hour weeks
- 55. 10 thousands
- 56. 90 hour weeks
- 57. 100 millions
- 58. 10 thousands 1 point
- 59. 100 millions 1000 points
- 60. 1 point 10 points 1000 points What are 1000 point activities?
Notes de l'éditeur
- Expectations are unreasonable. We require extraordinary effort from all of you. We expect to do all the work assigned. This class is probably more work than you think, but the rewards will be big too. You will see massive improvements in your business. And the hard work will be worth it.
- All real learning will happen outside of the classroom.
- This class is thought using the start up culture. We are tough, direct, fair – you need to be the same. Start up culture has no hierarchy – in this class you are an entrepreneur and hence the CEO of your own company. Act like one. We are your biggest supporters. We want you to succeed. Question us, challenge us, push us as hard as we push you. We don’t pretend to be domain experts, we know you are smarter than we are.