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What causes success?
Team?
Product?
Market?
Suitability
Optimum Execution
Effectiveness / Experience
Ease of Use & Speed
R...
Benefits?
Execution of product design in simpler, cleaner way.
Bigger the market, easier to narrow down on user-
centric a...
In a great market, a market with lots
of real potential customers,
the market pulls product out of the startup.
The only t...
Product-Market Fit
What is Product-Market fit?
Being in a good market with a product that can satisfy the market.
When peo...
External Validation
Is it solving a real problem?
Is there a bigger game involved?
Will your solution be used continually ...
Internal Validation
What is the key motivating factor behind starting up?
Is your family convinced?
Financial obligations ...
Tell a Good Story
Branding translates into everyday behavior, emails, texts, conversations.
Branding gets you the best (or...
People
Givers Gain
Build honest relationships
Offer playgrounds to some, racetracks to others.
Build a customer centric bu...
Minimum
Viable
Product
Ears to the ground
Go rabid with feedback
Perceptions matter. Build
and position based on
those.
Wh...
When you find a product-market fit,
you better not lose it.
People.
Cash.
Optimism.
Compliance.
Growth.
Courtesy:
@EricJorgenson
@BeninJLM
Marc Andreesen
Jack Dorsey
Fred Wilson
@sushrutmunje
'Starting up' for SP Jain class of SYB'18
'Starting up' for SP Jain class of SYB'18
'Starting up' for SP Jain class of SYB'18
'Starting up' for SP Jain class of SYB'18
'Starting up' for SP Jain class of SYB'18
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'Starting up' for SP Jain class of SYB'18

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The Center for Entrepreneurship at SPJIMR conducts the Start Your Business Program ( http://syb.spjimr.org) for aspiring/budding entrepreneurs. I was honored to have been invited as Guest Faculty to cover 'startup challenges'. It was a fruitful discussion since the students (most of them professionals with considerable experience) preferred a debate-based session over a presentation-based lecture.

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'Starting up' for SP Jain class of SYB'18

  1. 1. What causes success? Team? Product? Market? Suitability Optimum Execution Effectiveness / Experience Ease of Use & Speed Rich with Features Extensible & Polished Number of customers and growth rate of users for the product
  2. 2. Benefits? Execution of product design in simpler, cleaner way. Bigger the market, easier to narrow down on user- centric attributes on which to compete. Don’t just find a market. Find a great market. Do your customers recommend you to their friends? Do your customers care if your company dies tomorrow? How to measure?
  3. 3. In a great market, a market with lots of real potential customers, the market pulls product out of the startup. The only thing that matters is getting to product/market fit.
  4. 4. Product-Market Fit What is Product-Market fit? Being in a good market with a product that can satisfy the market. When people sell for you. Value Hypothesis Identifying that compelling hypothesis is finding a product-market fit. Factors include Product, Pricing and Business models. It is everyone’s job. Process Keep evolving. Keep listening. Delegate the process to all ends of the supply/production/delivery chain.
  5. 5. External Validation Is it solving a real problem? Is there a bigger game involved? Will your solution be used continually by the audience? Usage frequency? How and when will you make money? Is it enough? Customer acquisition strategy? Cost of acquisition? Lifetime Value? How will you trump the competition? No price war, right? Right?
  6. 6. Internal Validation What is the key motivating factor behind starting up? Is your family convinced? Financial obligations that you’re risking? Are competencies being identified? What is the hardest part of starting up, for you? Why? Is optimism hard wired into you? It better be. What do you see yourself doing in the next 20 years? Is the vision aligned?
  7. 7. Tell a Good Story Branding translates into everyday behavior, emails, texts, conversations. Branding gets you the best (or rather, relevant) talent out there. Logo and Colors matter. Online Presence matters. Value of effective communication is highly underestimated. Perceptions is Everything Branding keeps you human. Use it to your advantage.
  8. 8. People Givers Gain Build honest relationships Offer playgrounds to some, racetracks to others. Build a customer centric business Build an employee centric business Two sets of customers: paying and non paying A person who cares is a way better cleaner than a professional who doesn’t.
  9. 9. Minimum Viable Product Ears to the ground Go rabid with feedback Perceptions matter. Build and position based on those. Why? Startup throws mini storms. Nipping them in the bud helps avoid bigger storms. How? Pivot Why? Taking the neon light EXIT when the highway seems to be going on without a clear indication. How? Analyze feedback from stakeholders Do what you feel is best. The middle path. Have faith. Focus on Product/Market fit.
  10. 10. When you find a product-market fit, you better not lose it. People. Cash. Optimism. Compliance. Growth.
  11. 11. Courtesy: @EricJorgenson @BeninJLM Marc Andreesen Jack Dorsey Fred Wilson
  12. 12. @sushrutmunje

The Center for Entrepreneurship at SPJIMR conducts the Start Your Business Program ( http://syb.spjimr.org) for aspiring/budding entrepreneurs. I was honored to have been invited as Guest Faculty to cover 'startup challenges'. It was a fruitful discussion since the students (most of them professionals with considerable experience) preferred a debate-based session over a presentation-based lecture.

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