from an idea to a startup to a business
DESCRIPTION
So you got an idea. How do you make it into a business? You need to make a startup, search for a business model, find customers and scale. This talk briefly talks about where to go nextTRANSCRIPT
From Idea to Startup and Beyond
Why I’m Talking About This?
• 7 years of startup experience• 3 startups (1 acquisition)• Currently the co-founder and CTO of Pring• Everything I talk about I’ve learned* the hard
way• Take your ideas to the next stage
*Still Learning!
What’s a Startup?
• Not a Small, Medium Business• It’s a temporary organization looking for
scalable, repeatable business model
Idea Startup Business
Business Model? Startups are looking to solve a problem while making money in the process
Tech Risk vs Market Risk
• Is yours a tech risk or a market risk?• Usually it’s almost always the Market• Very few startups fail because of a technology
failure• Most fail because of market failure ie: not
enough users or not enough paying customers
How do you Reduce Engineering Risk?
• Scrum, XP, Agile Development• Test/ Behavior Driven Development• Spiral, Prototype Based Development• Hybrid/Waterfall Development
Market Risk?
• Customer Development Process – Dr. Steve BlankKey Resource: Startup Owner’s Manual
• Lean Startup –Eric RiesKey Resource: The Lean Startup
Create Your Hypothesis
• What are your assumptions about…• …The user (behavior, pain point etc)• …the market (competition, pricing etc)• …the customer (significant problem for them?
Price point? Good enough solution?
Then Go Out and Validate
• Meet Earlyvanglists (early adaptors)
Book: Business Model Generation: Alexander Osterwalder
Two-Sided Business Models
• Side One: Users• Side Two: Advertisers• You need to iterative over both• Users: Registrations, Contents Created,
Minutes Spent etc• Advertisers: Order Size, CTR, eCPM etc
Only ideas exist within the building. The Facts are outside.
Customer Development Process