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Learn & Confirm - Founder-Centric F-Day at UCL SMILE

Founder-Centric
26 Jul 2012
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Learn & Confirm - Founder-Centric F-Day at UCL SMILE

  1. Startups are more like frogs than fish
  2. 2 stages of learning 1. 2. Discovery Validation
  3. A man wakes up, turns on the radio, goes upstairs, turns on the light, and kills himself. Why?
  4. (picture of wedding ring for commitment) 1. best: take their money 2.okay: take their email with permission to contact them Image by wstryder
  5. 2 stages of learning 1. 2. Discovery Validation
  6. 2 stages of learning “Learn”“Confirm”
  7. 2 stages of learning “Ask” “Sell”
  8. Do we understand this industry? Does anybody care at all?
  9. Do we Are we understand building the this industry? right product? Does Will they anybody care at all? pay for it?
  10. Build something people want! Paul Graham ❞ @paulg
  11. Anyone will tell you your idea is great if you annoy them for long enough
  12. Dear Mom, Don’t you think I’m great? Love, Your son
  13. But, everybody will lie to you (not just mom)
  14. The mom test Talk about their life, Future-tense not your idea opinions are lies Ask about specifics You gain nothing in the past by convincing them
  15. Do think it’s a good idea? ❞ Us
  16. Do think it’s a good idea? ❞ Us
  17. ❝ Would you buy a product which solved this problem? ❞ Us
  18. ❝ Would you buy a product which solved this problem? ❞ Us
  19. ❝ How do you currently deal with this problem? ❞ Us
  20. ❝ How do you currently deal with this problem? ❞ Us
  21. ❝ Talk me through the last time you had this problem ❞ Us
  22. ❝ Talk me through the last time you had this problem ❞ Us
  23. How much would you pay for this? ❞ Us
  24. How much would you pay for this? ❞ Us
  25. ❝ How much money does this problem cost you? ❞ Us
  26. ❝ How much money does this problem cost you? ❞ Us
  27. Is there a budget for it? ❞ Us
  28. Is there a budget for it? ❞ Us
  29. Who else should I talk to? ❞ Us
  30. Who else should I talk to? ❞ Us
  31. Opinions are worthless!
  32. 2 stages of learning “Learn”“Confirm”
  33. So, we had a meeting!
  34. Sounds great. I love it! ❞ Claudia
  35. Sounds great. I love it! ❞ Claudia
  36. ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  37. ❝ Brilliant -- let me know when it launches! ❞ Jeremy
  38. Compliment + Stalling tactic ------------------ They don’t care :(
  39. ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  40. ❝ There are a couple people I can intro you to, when you’re ready. ❞ Jeremy
  41. Partial commitment... ...what needs to happen to get the intro?
  42. I would definitely buy that! ❞ Claudia
  43. I would definitely buy that! ❞ Claudia
  44. DANGER!! Good signal, but if you mis-read it you will lose everything
  45. Meetings succeed when they commit to the next step
  46. Examples of advancement > Permission to contact again > Clear next meeting > Introduction to decision-maker > Commitment to run a trial > Pre-purchase
  47. Real learning comes Facts Commitment
  48. Title Text
  49. It helps to pre-plan the big 3 questions you need to answer
  50. My big 3 right now: > Does it do what it says on the tin? > Can we make it usable enough? > Do people really, truly want it?
  51. My big 3 right now: > Does it do what it says on the tin? > Can we make it usable enough? > Do people really, truly want it? What are yours? Take 3 minutes to write them down. Are they to learn or confirm?

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