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How To Pitch Your Startup
How To Pitch Your Startup
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Lean ing

  1. 1. 2 Years Idealabs #StopTalkingStartBuilding
  2. 2. I’m Cedric, I’m the marketing guy at idealabs. These are the first 2 years of idealabs through my eyes (actually my iphone)
  3. 3. I wish I had a Real (not a 3D Printed) Google Glass last year. Maybe next year my presentation will be: idealabs 2015 #throughglass
  4. 4. Back to me. Let’s start my idealabs journey from the very beginning
  5. 5. Job Opening: Digital Marketer Preparing a presentation for my first job interview at idealabs.
  6. 6. I GOT THE JOB. HOORAY! From now I was working for the first startup accelerator in Belgium
  7. 7. Hold on a sec! Let’s dive in to this awesome book
  8. 8. philosophy MVP Minimum set of features Learn from early adopters Avoid building a product nobody wants Learn from testing eric ries the lean startup movement
  9. 9. philosophy what we believe in
  10. 10. no technical development 3 min video CTA for list validated assumptions
  11. 11. OUR DREAM STARTED 2 YEARS AGO
  12. 12. idealabs from inside Let’s fill this space with startups!
  13. 13. Idealabs from outside. With this rooftop
  14. 14. Idealabs from outside. with this AMAZING rooftop
  15. 15. What we do? The entrepreneurial journey Accelerate & Mentor Grow & internationalization Let’s try a few things I need the right skill set Inspire Engage Educate I’m interested in entrepreneurship I am guided as an entrepreneur My company is growing
  16. 16. CAMPUS What? Series of practical workshops for entrepreneurs, students, intrapreneurs: Marketing, sales, PR, business plan, investors, pitching, international entrepreneurship,...
  17. 17. COFFEELABS + COWORKING What? Gateway to idealabs. A place where we mix coffee with digital. Ideal meetup place for entrepreneurs, investors, students, creative people Networking for young professionals, inspiring moments with top entrepreneurs, pitching events, open office, open coffee, meetups
  18. 18. EVENTS What? Flagship events of idealabs. Gathering the whole entrepreneurial community Startup Weekend, Internet of things bootcamp, entrepreneurial week, summer of creativity, learning labs for schools, 1 evolv weekend
  19. 19. What we did? 2012 - 2013 Accelerator
  20. 20. Investment stage #1: Idealabs Accelerator idea business selection procedure program kick-off demo day follow-up investment support for growth MONTH 1 MONTH 2 MONTH 3 seed funding office space central services mentoring education product and IT lab 6 -9 MONTHS
  21. 21. Example: Beatswitch 1. Idealabs accelerator (17K) 2 Founders 2.MVP launch 10K Visitors 3.First Customer 4.Angel round 250K ANGEL START 3 MONTHS 5 MONTHS 7 MONTHS 2 Founders 6 Team Members
  22. 22. Example: Octopin 1. Idealabs accelerator (17K) 1 Founder 2.MVP launch 3.First Customers 4.Angel round 50K IMINDS START 3 MONTHS 5 MONTHS 6 MONTHS KLM Test client KLM, HEINZ, DIESEL ANGEL 5.Angel round 200K 1,5 YEAR DUVAL UNION
  23. 23. Where are we now? Telenet Idealabs
  24. 24. INSPIRING, EDUCATING AND ACCELERATING ENTREPRENEURS. TURNING IDEAS INTO GROWTH COMPANIES
  25. 25. INSPIRE ! OPEN COFFEE MATCHMAKING EVENTS OPEN PITCH NIGHTS STARTUP EVENTS
  26. 26. EDUCATE 12 COURSE LEAN STARTUP CAMPUS GO FROM IDEA TO STARTUP! LEARNING BY DOING SHARING OF BEST PRACTICES CURATED CONTENT
  27. 27. ACCELERATE TELENET IDEALABS: FIRST VERTICAL ACCELERATOR FROM IDEA TO WORKING PRODUCT AND SALES 4 MONTHS: SHAPE BUILD LAUNCH 4-8 MONTHS: GROW! GROW! GROW!
  28. 28. VIDEO/ DIGITAL HOME E-COMMERCE SMART CITIES ADVERTISING SECURITY SOCIAL INNOVATION MEDIA ENTERTAINMENT M2M/ INTERNET OF THINGS NETWORK & SYSTEMS INDUSTRIAL BIG DATA APPS & GAMES
  29. 29. 450 WE RECEIVED APPLICATIONS ON MAY 15 WE OPENED OUR CALL FOR STARTUPS 32 FROM COUNTRIES APPLICATIONS TOP 5 SKILLS & MARKETS SELECTING THE BEST TEAMS
  30. 30. SELECTING THE BEST TEAMS QUALITY OF THE TEAM QUALITY OF THE OFFERED SOLUTION VALUE OF THE PROBLEM AND MARKET FIT WITH THE TELENET IDEALABS PROGRAM JURY: IDEALABS TEAM CTO / CIO / CSR TELENET PSYCHOLOGIST INVESTOR ENTREPRENEURS 450 25 15 10 10’ PITCH 5’ Q&A 15’ PITCH 5’ Q&A HOMEWORK
  31. 31. INTRODUCING THE FINAL 10 EACH TEAM RECEIVES €25K FUNDING AND MENTORING GECKOMATICS Automated street imaging. AN AMAZING ENTREPRENEURIAL JOURNEY STARTS NOW! SCRIPTBOOK Forecasting box-office success of films by data mining screenplays. APPRENTUS A marketplace that helps people to find private teachers nearby. CAMPR A peer to peer platform to find exciting camping locations. SALESFLARE One easy sales tool for your sales team. HOPLR A platform that enables neighborhoods to organize everyday life. GET ON AIR Combines live videos into one stream to show whats happening in the world. PITH LI The yellow marker for the digital age. DOT Twitter meets Yelp meets Google Maps. INTUO Improving and commercializing product support pages for businesses. GECKOMATICS Apprentus is a marketplace that helps people find private teachers based on location.
  32. 32. There was a workshop at idealabs
  33. 33. KEY QUESTION 1: DO I HAVE A PROBLEM WORTH SOLVING AND IF SO, HOW CAN I VALIDATE / REFINE MY IDEA TO PROVIDE A SOLUTION TO THAT PROBLEM
  34. 34. THIS IS YOUR GUIDE!
  35. 35. WATCH OUT, IT DOESN’T ANSWER ALL OF YOUR QUESTIONS!
  36. 36. IDEATION & CUSTOMER JOURNEY
  37. 37. CUSTOMER DEVELOPMENT 101
  38. 38. KEY QUESTIONS?? IS IT SOMETHING CUSTOMERS WANT? WILL THEY PAY FOR IT? IF NOT, WHO WILL? CAN THE PROBLEM BE SOLVED? WHAT IS YOUR VALUE PROPOSITION? WHAT IS THE PROBLEM SOLUTION FIT
  39. 39. KEY OUTPUT X # OF INTERVIEWS X # OF PERSONAS MINIMAL VIABLE PITCH FILLED IN LEAN CANVAS
  40. 40. KEY QUESTION 2: HAVE I BUILT SOMETHING PEOPLE WANT? WILL CUSTOMERS USE MY SOLUTION?
  41. 41. KEY OUTPUT MARKET TYPE & SIZE CUSTOMERS KEY COMPETITORS REVISED LEAN CANVAS
  42. 42. KEY QUESTION 3: IS MY PROPOSED SOLUTION A VIABLE BUSINESS?
  43. 43. BIZ MODEL TESTING - ALL FANCY ON WHITEBOARDS
  44. 44. BIZ MODEL TESTING - CLUELESS IN REAL LIFE!
  45. 45. AGAIN THIS IS YOUR GUIDE!
  46. 46. SET OF SUB QUESTIONS: WHAT IS MY PRICING STRATEGY? WHAT ARE MY COSTS? WHAT IS MY REVENUE MODEL?
  47. 47. KEY OUTPUT IN THEORY BASIC REVENUE MODEL AND PRICING STRATEGY BREAK EVEN POINT KEY OUTPUT IN PRACTICE WE HAVE NO CLUE
  48. 48. KEY QUESTION 4: WHAT DOES MY MVP LOOK LIKE AND WHAT FEATURES DO I BUILD?
  49. 49. REMINDER! STARTUPS HAVE IDEAS !BUILD IT !PROMOTE IT !CUSTOMERS DON’T BUY IT !THE STARTUP DIES ! 1 1 23 45
  50. 50. GOAL
  51. 51. GOAL?
  52. 52. RISK? THE BIGGEST RISK OF A STARTUP? WASTING YOUR TALENT & OPPORTUNITY BY BUILDING THE WRONG THING CLOSE TO THE RIGHT THING
  53. 53. PROBLEM? KEVIN SYSTROM (INSTAGRAM) THE HARD PART IS FINDING THE PROBLEM TO SOLVE
  54. 54. MVPS IN PRACTICE? WHAT IS AN MVP, REALLY? AN MVP IS THE SMALLEST THING YOU CAN BUILD THAT TESTS YOUR BUSINESS NO! AN MVP IS AN EXPERIMENT THAT TESTS A CRITICAL, FALSIFIABLE HYPOTHESIS OF YOUR BUSINESS
  55. 55. EXPLORATION ‚I WANT TO START A FINE MARBLE SCULPTURE MARKETPLACE’
  56. 56. IDEA AND PRODUCT SPOTTING NETWORKS PRODUCT HUNT BETALIST READ ABOUT COMPETITORS, OPEN FEEDBACK PLATFORM
  57. 57. BASIC PROTOTYPE OR APP
  58. 58. MOCKUPS & PRESENTATI ONS
  59. 59. A LANDING PAGE
  60. 60. EXPLAINERS VIDEOS INSTEAD OF CREATING A PROMOTIONAL VIDEO, TRY TO SHOW YOUR PRODUCT IN ACTION. EVEN IF IT IS NOT BUILT YET! DROPBOX INCREASED BETA WAITING LIST FROM 5,000 TO 75,000 10,000 PRE-ORDERS = $1,5 M IN THE FIRST 48 HRS
  61. 61. PAPER PROTOTYPING
  62. 62. WIREFRAMING
  63. 63. SLIDE.LI TEST SCREENS
  64. 64. SET OF SUB QUESTIONS: WHICH FEATURES ARE REQUIRED TO BUILD MY MVP? WHAT IS THE USER EXPERIENCE? WHAT IS THE USER INTERFACE?
  65. 65. KEY QUESTION 5: DO CUSTOMERS LIKE THE FIRST VERSION OF MY PRODUCT? DO THEY WANT TO SEE/FIND OUT MORE?
  66. 66. STEP 1: BUILD A LOW FIDELITY MVP AND TEST WITH CUSTOMERS
  67. 67. CONCEPT WEBSITE
  68. 68. LANDING PAGE
  69. 69. KEY OUTPUT X # OF EMAIL ADRS X # OF INTERVIEWS QUANTATIVE AND QUALITATIVE DATA
  70. 70. SEMI WORKING PROTOTYPE
  71. 71. KEY OUTPUT X # OF USER TESTINGS CUSTOMER DATA/FEEDBACK DEFINE YOUR FINAL MVP
  72. 72. WAIT A SEC!
  73. 73. SUDDENLY IN SAN FRANCISCO
  74. 74. SUDDENLY IN SAN FRANCISCO
  75. 75. NEVER FORGET: ALWAYS BE TESTING YOUR ASSUMPTIONS!
  76. 76. THEN THESE GUYS CAME IN…
  77. 77. GO HOME AND BUILD THE DAMN THING & THEN WE’LL INVEST!
  78. 78. STEP 2: BUILD A HIGH FIDELITY FIDELITY MVP AND TEST WITH CUSTOMERS
  79. 79. PRODUCT READY FOR BETA LAUNCH
  80. 80. TESTING A LAST TIME BEFORE BETA LAUNCH
  81. 81. KEY QUESTION 6: IS MY PRODUCT READY FOR LAUNCH?
  82. 82. NEVER TRUST APPLE!
  83. 83. SUDDENLY WE WERE BACK HERE
  84. 84. THEN THESE GUYS WEREN’T INTERESTED ANYMORE
  85. 85. KEY QUESTION 6: IS MY BRAND READY FOR LAUNCH?
  86. 86. KEY OUTPUT 3: COMPANY POSITIONING. GET YOUR BRAND READY TO LAUNCH!
  87. 87. KEY OUTPUT OF THIS TALK WE NEVER CREATED A LEGAL COMPANY STRUCTURE WE NEVER INVESTED MONEY IN OUR PRODUCT (ONLY TRAVEL COSTS) WE GOT TO SAN FRANCISCO WITHOUT A WORKING PRODUCT
  88. 88. KEY OUTPUT OF THIS TALK BY TALKING TO CUSTOMERS, TESTING YOUR ASSUMPTIONS AND ITERATING ON FEEDBACK, YOU GET REALLY FAR
  89. 89. MARKETING INTERNS! CONTACT ME! CEDRIC.DEWEECK@IDEALABS.BE @KNODDECEE WWW.TELENETIDEALABS.BE

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