talk at login conference 2012 on startup strategy

Startup Strategy: How to get fast traction while selling the big

vision to investors

… or …

How to focus on the trees while selling the forest

Andris K. Berzins / @akberzins Login Conference 2012

Andris K. Berzins • Stanford during

dotcom boom • Bain & Company •  12 years building tech

startups • Startup mentor

@akberzins

The weapon of choice for most startups

@akberzins

Why? Fear of investors

@akberzins

The dreaded question: “How big is the market?”

@akberzins

But investors buy 1. Team 2. Traction 3. Market potential

@akberzins

Traction • Reduces market risk • Proves team

@akberzins

Market size is hypothetical

potential @akberzins

Why focus?

Limited resources

@akberzins

The risk of not focusing enough

@akberzins

What to do?

@akberzins

Laser-like focus on a niche … but keep whole market in view

@akberzins

Find customers that will buy the minimum Minimum Viable Product … as similar as possible …as easy to access as possible

@akberzins

Example: VitalFields

@akberzins

B2C: Pick a specific target

user group @akberzins

B2B: Look for a short

decision cycle

@akberzins

Find specific product features for this niche

and build them

@akberzins

Find the specific marketing channels to

reach the niche

@akberzins

Talk to users. Personally.

@akberzins

Focus on fewer, returning, paying, satisfied users

@akberzins

Rapid learning and iterations

@akberzins

Then pick the next closest niche

@akberzins

Avoid big partners

and resellers

@akberzins

Create arguments why potential market much

bigger than initial focus

@akberzins

Exceptions: Platform plays

@akberzins

Exceptions: Infrastructure &

Partner dependency @akberzins

So what to do tomorrow?

FOCUS

@akberzins

Thanks!

Andris K. Berzins @akberzins

www.techhub.com/riga