experimental startups in miami thanks to the knight foundation
DESCRIPTION
Our goal is to create a community of experimentation in Miami. We got together at The LAB Miami to pitch problems and customers not solutions. We will spend the next year asking each other "What problem are you solving" rather than "how many downloads do you have" or "how much have you raised"?TRANSCRIPT
@adamberk
Entrepreneurial Science For StartupsAKA “Lean Startup” (a trademark owned by @ericries)
A MINIMUM VIABLE SLIDE DECK PREPARED FOR
“Entrepreneurs in Miami with an idea to change the world who are willing to experiment to see if the
world wants to be changed”. BY
Hmmm… how will I change the world
I am an entrepreneur because ….
The most annoying thing that
happened…
Good idea? Who cares!
No really, Who cares?
Good idea? Prove it!
Build first?
Test the riskiest things first
Test Demand NOT SUPPLY
Isolate your variables and assumptions
test them independently
But then make sure when you stack them together
Scientists do not coddle ideas. They crash test them. They run them
into a brick wall at sixty miles per hour. If the
idea is sound the pieces will be of the wall.
PITCH
Customer DevelopmentProblem/Customer fit. No solutions
FACTSvs
PROBLEMSyou cannot solve a fact
AN EARLY ADOPTER TELLS
YOU THEIR PROBLEM BEFORE
YOU TELL THEM
HEADACHEPROBLEMS
VSMIGRAINE
PROBLEMSsay hi to @dianakander and ask her about her dog (and watch her talks online)
Exploration
Cure tunnel vision
Don't let your idea...
Get outof your comfort zone
GOOB (credit, Steve Blank)
Pulldon't push - it's harder than it seems.
PAST
not future
LISTENdo you hear that? you have 2 ears and only one mouth for a reason. Listen at least 2x as much as you talk.
PRACTICEDo you get junk mail? How many loyalty cards do you have? How did you find this
restaurant?
RINSE & REPEAT
until you find the real problem and the corresponding early adopters...
STOP
Do not ask for $, do not write code..
They may not know WHAT they want, but they have to want SOMETHING
NOsolutions, selling, friends, family, surveys
Don't build this.
WRONG
if you build without testing, you are probably building...
tweet “hey @kevinpmarra you were right they are not milkshakes, but it’s not froyo”
tweet “hey @claychristensen, milkshake marketing is brilliant #jtbd”
Embrace constraint. Then iterate!
Don’t get lucky, get good.
Unbounce
DEVELOPMENT
I am unique because…I am valuable because…
My startup is unique because…My startup is valuable because...
SUPPLY &
DEMAND
Your “product” is more than your app.
It is the entire process of creating and capturing value for your user and yourself.
Deliver value.Deliver Solution (Manually). Learn. {period}
“I make money using my brains and lose money
listening to my heart. But in the long run my books balance pretty well.”
-Kate Seredy
“If you are not embarrassed by the first version of your product, you shipped too late.”
-Reid Hoffman (LinkedIn)
“To do good, you actually have to do
something.”
-Yvon Chouinard (Patagonia Founder)
“it turns out that focus is so important, even if you pick the wrong focus you're doing better!” BILL GROSS
Read more: http://www.businessinsider.com/bill-gross-lessons-2011-12?op=1#ixzz2gO4zcdIJ
“Do things that don't scale”
-Paul Graham
“If you can’t get them to adopt your idea with high-
touch, face-to- face service, they will not buy into your
cold web page.”-Manuel Rosso
“Do the least that gets you to the end instead of the most that gets you to the
beginning”-ab
what if the bottleneck
is at the bottom?
Manual
NOharm, copyright
infringement,building,adwords
Science. Economics. Supply & Demand Opportunity cost.
Thank me? Send feedback to
[email protected]@adamberk
or send an entrepreneur to my next event in Paris or Kansas
City.
I PROMISE…
If you do 10 interviews and share them on the document,
you have a mentor for life:)