4. Ignitor Startup Acceleration 6 sprints 1-on-1 coaching Task
modules to help you get more done faster Modules taught by the
worlds best entrepreneurs Mentor network of 100+ mentors
5. 1. Entrepreneurs count off into team of 5 2. Audience
selects 30 random words to use for a name 3. Each team selects 2
words to use for a name (example. Blank- blank.com) 4. Each team
has 5 minutes to create a business plan 5. The business plan should
consist of: A tagline A product or service (your solution) A
business model (How do you make money) A go-to-market strategy (How
do you get customers) 6. Each team has 60 secs to pitch their plan
Networking game: half baked.com
6. How we used to launch startups Business Plan Launch Product
Development Learn if idea will work!Months / Years
7. Steve Blank Eric Ries
8. A lean startup Run Experiments Launch Product Development
Learn if idea will work! Months / Years
9. Quickly learn if a business idea will work!
10. Move from Plan A to a plan that works!
11. The story of anyperk: 3 months 1 Dating site Mieple
(Through friends) 2 Introductions to investors (Through friends) 3
Introductions to jobs (Through friends) 4 A translation company 5
Movie advice company 6 Teaching through Skype 7 AnyPerk (Offer
discounts and perks to employees)
12. Lean Startup: Blue River
13. The only thing that matters is product/market fit - Marc
Andreessen
14. You can always feel product-market fit when its happening.
- Marc Andreessen The customers are buying the product just as fast
as you can make it or usage is growing just as fast as you can add
more servers. Money from customers is piling up in your company
checking account.
15. INGITE CANVAS CAN YOU FIND EARLY ADOPTERS? CAN YOU SELL
EARLY ADOPTERS? CAN YOU BUILD A PRODUCT THEY LOVE? ? Can you get
lots of customers?
16. 1. CAN YOU find early adoptors? 2. CAN YOU sell early
adoptors? 3. CAN YOU build a product they love? 4. CAN YOU get lots
of customers?
17. 1. CAN YOU find early adoptors? 2. CAN YOU sell early
adoptors? 3. CAN YOU build a product they love? 4. CAN YOU get lots
of customers?
18. 1. CAN YOU find early adoptors? 2. CAN YOU sell early
adoptors? 3. CAN YOU build a product they love? 4. CAN YOU get lots
of customers?
19. You can always feel when product- market isnt happening. -
Marc Andreessen The customers aren't quite getting value out of the
product, word of mouth isn't spreading, usage isn't growing that
fast, press reviews are kind of "blah", the sales cycle takes too
long, and lots of deals never close..
20. INGITE CANVAS CAN YOU FIND EARLY ADOPTERS? CAN YOU SELL
EARLY ADOPTERS? CAN YOU BUILD A PRODUCT THEY LOVE? ?
21. INGITE CANVAS CAN YOU FIND EARLY ADOPTERS? ?
22. What is the one thing every successful business has?
23. Customers
24. How do new businesses get customers?
25. 1 Have a problem 2 Trying to solve it 3 Spent money 1 Have
a problem 2 Trying to solve it 1 Have a problem
26. Rich enviromentalists who spending money on being green.
Enviromentalists trying to live a little greener. Want to be green
but havent taken any action.
27. Overweight people spending money on trainers, diets,
exercise programmes, etc. Overweight people trying to lose weight
on their own with no help. Overweight people that have no interest
in losing weight. Exercise App
28. H Tips: Target very small markets Etc S Universities
Schools
29. What if I already have customers? 1 Improve customer
definition 2 Messaging / positioning Not sure Talk to Justin or
Paul 3 Improve sales (lower CAC)
30. CAN YOU find early adoptors?Customer definition 1
Brainstorm 5 early adopter customer segments 2 Select what you
believe is the best early adopter customer segment 3 Write it on a
sticky note and place on the canvas Hint: Choose a small market,
reachable market with a budget and an unsolved pain. Time: 5
mins
31. SUCCESSFUL BUSINESSES SIMPLE SOLUTIONBIG PROBLEM
32. SUCCESSFUL BUSINESSES SIMPLE SOLUTIONBIG PROBLEM CD PLAYER
JUMPS & MISSION TO CARRY CDS!
33. SUCCESSFUL BUSINESSES SIMPLE SOLUTIONBIG PROBLEM OVERSEAS
CALLS ARE EXPENSIVE!
34. SUCCESSFUL BUSINESSES SIMPLE SOLUTIONBIG PROBLEM IT IS A
HEADACHE GETTING A TAXI!
35. SUCCESSFUL BUSINESSES SIMPLE SOLUTIONBIG PROBLEM PIZZA TOOK
FOREVER TO ARRIVE!
36. Warning!!! Example: pumodo. not find a big problem!!!
37. CAN YOU find early adopters?Customer definition 1
Brainstorm 5 problems you believe your early adopters have 2 Select
the biggest problem 3 Write it on a sticky note and stick it on the
canvas Time: 5 mins Customer Problem
38. Why should you hypothesize (guess) customer behaviour?
39. Wild optimism?
40. What are the odds of your business succeeding? Source:
Cooper et al. (1988) 0 1 2 3 4 5 6 7 8 9 10 No Chance of Success
Certain Chance of Success
41. What are the odds of your business succeeding? Source:
Cooper et al. (1988) 0 1 2 3 4 5 6 7 8 9 10 No Chance of Success
Certain Chance of Success 81%
42. What are the odds of your business succeeding? Source:
Cooper et al. (1988) 0 1 2 3 4 5 6 7 8 9 10 No Chance of Success
Certain Chance of Success 33%
43. 1 Modelling customer behavior 2 Predicting if they will
buy
44. Early adopter customers have spent money / dissatisfied
with the current solution and willing to switch?
45. Interviews in groups of 5. 1 / 5 Spent money, time or
effort 5 / 5 Spent money, time or effort B-to-B (No customers)
46. Interviews in groups of 5. 2 / 5 Spent money, time or
effort 5 / 5 Spent money, time or effort B-to-B (With customers)
What is your current conversation rate?
47. Interview in groups of 10. 1 / 10 Spent money, time or
effort 10 / 10 Spent money, time or effort B-to-C (No
customers)
48. Interview in groups of 10. 1 / 10 Spent money, time or
effort 10 / 10 Spent money, time or effort B-to-C (With customers)
What is your current conversation rate?
49. CAN YOU find early adopters?Customer definition 1 Decide on
what a good outcome would for your problem interview. > B-to-B:
1/5 spent money > B-to-C: 1/10 spent money 2 Write it on a
sticky note and stick it on the canvas Time: 5 mins Customer
problem Expected result
50. Why interview customers?
51. vs. Ensure you are building something people want!
52. I wish I had know about this earlier
53. I cant believe I have wasted a year building something that
will never make money. F@#k!
54. How to conduct a problem interview INTRODUCE INDICATORS
INTERVIEW INVITE Reminder: 4Is
55. How to conduct a problem interview INTRODUCE yourself i.e.
My name is [name] I am doing market research for a startup and I
was wondering if I could take 5 minutes of your time. Check
customer INDICATORS i.e. Ask questions to test if they are in your
target market. Conduct INTERVIEW i.e. Story, Challenge, Solution.
INVITE them to meet with you again. i.e. Ask if they would be
interested in seeing the product and giving feedback when it is
done.
56. What questions to ask? (SCS) STORY CHALLENGE SOLUTION
57. What questions to ask? (PCS) SOLUTION: What if anything
have you done to solve the problem? Likes? Dislikes? CHALLENGE:
What was most challenging about that? Why was that challenging?
STORY: Tell me a story about the last time you (describe task they
are trying to achieve / problem context)?
58. What questions to ask? (PCS) SOLUTION: What if anything
have you done to solve the problem? Likes? Dislikes? CHALLENGE:
What was most challenging about that? Why was that challenging?
STORY: Tell me a story about the last time you tried to started a
business?
59. Commons mistakes 1 Talking about your idea (DONT MENTION
THE SOLUTION) 2 Talking to the wrong customers (TALK TO YOUR
CUSTOMER SEGMENT) 3 Asking customers to predict the future (FOCUS
ON THE PAST) 4 Not interviewing customers (MAKING EXCUSES)
60. Problem interview practice (10 mins) STORY: Tell me a story
about the last time you (describe task they are trying to achieve
or problem context)? CHALLENGE: What was most challenging about
that? Why was that challenging? SOLUTION: What if anything have you
done to solve the problem? Why did you dislike that solution?
61. Customer interview plan
62. 1 Have a problem 2 Trying to solve it 3 Have spent money 1
Have a problem 2 Trying to solve it 1 Have a problem How do we find
early adopters?
63. They have spent money trying to solve their problem?
64. Create customer interview plan: Put together a plan to
speak to at least 10 customers tomorrow morning: 1. Friends and
family (Facebook, Linkedin, Email, Cell phone) 2. Shopping malls 3.
Bored people (Waiting in lines, Gautrain, Bus stops, Taxi ranks) 4.
Cold calling (LinkedIn, Facebook, Google) 5. Lead Generation
(Landing Page, OLX, GumTree, Google Ads, Facebook Ads) 6. Public
spaces (Events, Parks, conferences)
65. Write at least 10 ways you can find your customer (5 mins)
1 Write a plan on how you will find customers 2 Create a back up
plan if Plan A doesnt work Ideas: Social media: Search, Twitter,
LinkedIn, Facebook, Groups, Meetup Friends and family: Phone book,
Facebook, Google contacts Events: Events, conferences, seminars,
sporting events, shows Waiting areas: Restaurants, bus stops, train
stops, taxi rank, airports Online ads: Gumtree, OLX, Google ads,
Facebook ads, Twitter ads