1. LAUNCH YOUR BUSINESS BY APPLYING LEAN,EFFECTUATION AND STARTUP SCIENCE

2. INTRODUCTIONFRIDAY 18:00 TO 18:30 3. WHO WE ARE? 4. WHAT IS LAUNCHWEEKEND?A workshop to help you start asuccessful companyVeryUnlikelyVeryLikelyEvenchance 5. HOW?Help you find a plan that will workAverage plan Awesome plan 6. NETWORKING GAME: HALF BAKED.COM1. Entrepreneurs count off into team of 52. Audience selects 30 random words to use for a name3. Each team selects 2 words to use for a name (example. Blank-blank.com)4. Each team has 5 minutes to create a business plan5. 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 2 mins to pitch their plan 7. HOW?Help you find a plan that will workAverage plan Awesome plan 8. WHATS WRONG WITH MY PLAN? 9. WHATS WRONG WITH MY PLAN? 10. WHATS WRONG WITH MY PLAN? 11. WHATS WRONG WITH MY PLAN? 12. WHATS WRONG WITH MY PLAN?33% 66%Source: Bhide (2000)No!Yes! 13. 97%entrepreneurs that attend our training significantlychanged their business model, for the better. 14. WHAT IS A GREAT PLAN?The only thing that matters is product/market fit- Marc Andreessen 15. You can always feel product-market fitwhen 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. 16. You can always feel when product-marketisnt 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.. 17. HOW DO YOU ENSURE YOUR PLAN WILL WORK?vs. 18. THE OBJECTIVE FOR THE WORKSHOP1. Customers with problem!2. Attract customers to buy!3. Customers keep buying!4. Cost effective marketing? 19. KAUFMANN PROVE IT VIDEO 20. Lean Startup is about discovery!!!Be a little crazy. Try different ideas. Experiment.Optimisation Discovery 21. OBJECTIVE1 No. customers interviewed/surveyed/pitched2 No. of experiments3 Amount of learning 22. THE LAUNCH CANVASFIND A CUSTOMERPROBLEMPLANINTERVIEWSCUSTOMERSWILL BUYCUSTOMERSWILL KEEP BUYINGPLANPITCHES 23. HOW TO GET A PRODUCT-MARKET FIT? (AKA THE WEEKEND PLAN)1. Customers with big problem!2. Customers will buy!3. Customers will keep buying!4. Cost effective marketing? 24. CUSTOMER-PROBLEM FITYou have found a customer segment thathas a problem they will pay to have solved 25. SUCCESSFUL BUSINESSESBIG PROBLEM SIMPLE SOLUTION 26. SUCCESSFUL BUSINESSESCD PLAYERJUMPS &MISSION TOCARRY CDS!BIG PROBLEM SIMPLE SOLUTION 27. SUCCESSFUL BUSINESSESOVERSEASCALLS AREEXPENSIVE!BIG PROBLEM SIMPLE SOLUTION 28. SUCCESSFUL BUSINESSESIT IS AHEADACHEGETTING ATAXI!BIG PROBLEM SIMPLE SOLUTION 29. SUCCESSFUL BUSINESSESPIZZA TOOKFOREVER TOARRIVE!BIG PROBLEM SIMPLE SOLUTION 30. ARE CUSTOMER INTERVIEWS USEFUL??? 31. WARNING!!!EXAMPLE: PUMODO. NOT FIND A BIG PROBLEM!!! 32. HOW DO YOU FIND CUSTOMERS PROBLEMS?BIG PROBLEM PROBLEM INTERVIEWSPROBLEM SURVEYS 33. STEP 1:PLANYOUREXPERIMENT 34. CUSTOMER ASSUMPTION Be as specific as possible Target customers easy to reachDescribecustomersegment 35. PROBLEM ASSUMPTIONDescribecustomerproblem 36. EXPERIMENTDescribeexperiment 37. EXCITEMENT METRIC & BEHAVIOURMetrici.e. 7 / 10Behaviori.e. Built a solution 38. STEP 2:RUNYOUREXPERIMENT 39. STEP 3:RECORDRESULTS& INSIGHTS 40. RESULT & DECISIONMetrici.e. 7 / 10Decisioni.e. Pivot, proceedor iterate 41. INSIGHT & LEARNINGSWrite up anynew insights 42. CampusparkersCant findparkingInterviewcustomers100 /200Haveproblem150 /200PIVOTEventparking is abigger painEventParkersCant findparkingInterviewcustomers7 /10Searchedfor10 / 10PROCEEDHomeOwnersExtraspace forparkingInterviews20 / 30WillPartner20 / 30PIVOTHomeshard toscale 43. MassMarketProblembuyingconsumablesInterviewcustomers15/20Searched0/20SearchedPIVOTProblemwithdeliveryMassMarketMisseddeliveriesInterviews7/10Haveproblem3/10HaveproblemITERATEOnlineshoppersthat arecorporateemployeesCourierCompanyMisseddeliveriesInterviews3/5 Haveproblem4/5HavesearchedPROCEEDLarge costto couriercompanies 44. PLAN PROBLEM EXPERIMENT (10 MINS)What if I already have aproduct or solution? 45. HOW TO CONDUCT A PROBLEM INTERVIEWINTRODUCEINDICATORSINTERVIEWINTRODUCTIONSReminder: 4Is 46. HOW TO CONDUCT A PROBLEM INTERVIEWINTRODUCE yourselfi.e. My name is [name] I am doing market research for a startup and wantto solve your problems and make your life better.Check customer INDICATORSi.e. Ask questions to test if they are in your target market.Conduct INTERVIEWi.e. Ask Problem, Competition and Spend questionsAsk for INTRODUCTIONSi.e. Ask for introductions to friends and colleagues.Reminder: 4Is 47. WHAT QUESTIONS TO ASK? (PCS)PROBLEMCOMPETITIONSWITCH/SPENDSOLUTION 48. WHAT QUESTIONS TO ASK? (PCS)PROBLEMWhat problems did you encounter when(describe goal or task they are trying to achieve)?COMPETITIONHow do you currently solve the problem? Likes? Dislikes?SPENDHave you spent any money or time trying to solve (describe problem)? 49. PROBLEM INTERVIEW DEMONSTRATIONPROBLEM:What problems did you encounter when(describe the goal or task they are trying to achieve)?COMPETITION:How do you currently solve the problem?Likes? Dislikes?SPEND:Have you spent any money or time trying to solve(repeat back the problem discovered with the first question)? 50. PROBLEM INTERVIEW PRACTICEPROBLEM:What problems did you encounter when(describe the goal or task they are trying to achieve)?COMPETITION:How do you currently solve the problem?Likes? Dislikes?SPEND:Have you spent any money or time trying to solve(repeat back the problem discovered with the first question)? 51. CREATE INTERVIEW SCRIPT:IntroductionscriptProblemquestionCompetitionquestionSpendquestion 52. CREATE CUSTOMER INTERVIEW PLAN:Put together a plan to speak to at least 20 customers tomorrowmorning:1. Friends and family (Facebook, Linkedin, Email, Cell phone)2. Shopping malls3. 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) 53. SESSION TO DO LIST Write problem interview script Practice a problem interview Create a plan to talk to customers tomorrow morning