good startup vs bad startup
Post on 10-May-2015
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DESCRIPTIONTaking inspiration from various startup & business books this slideshow explains the difference between the two!
- 1.Taking action to Sketching, drawing,produce workingscribbling, measuring, paintingexamples of the not actually great ideas. taking action.
2. Seeks VC funding Actively seeksafter testing$300million in VC funding prototype and after firstmeasuring results. test is started. 3. Concentrates funding Uses majority ofcapital on helping the funding on plushcustomer:Italian sofas andNew tools for them to use, marketing awesome toys forthe product/service, generally placingthe toilets.focus on the customers benefits. 4. Expects large Searches for nicheaudience andmarket to target and test demand right fromthe product with. launch day.Ensures that there are plenty ofstaff, hardware, software &Then adapts as audience &resources to deal with the inevitable crowd.market grows.No one shows up. 5. Location of businessLooks for cheapestplace in order tochosen is based uponattract customers onthe need for: the basis of pricetargeting.- Staff to have an easy commute& accessDoesnt consider location-Customers can locate it easily appeal or condition. 6. Has a GreatFeels that a revenue is the last of their worries.Revenue (Remember Instagram was avery, very, very rare exampleof valuation to revenue)Plan 7. Business StartupWants to remain viable Looks for exit strategybefore anything else. long term. 8. Likes to learn Uses Failures as goodstory telling during from pastnetworking events to build interest fromsuccesses. outsiders. 9. Wants to have a brilliant salesWont bother with aprocess in place tosales process orwill make plans forstay a viable &it during a toilet break.stable business forthe long term. 10. Tests, adapts & Plans to be greatlearns from from the firstmoment the world great metrics experiences the product.and data. 11. Looks to improveUses VC money toefficiency within thedrive aggressive recruitment &team and avoidsexpects demand toemploying extra match current team numbers. team members. 12. Is smart whendetermining the needRecruits 5 new for extra teamteam membersmembers.for every 1 new customer.Optimizes metrics and data fromquarterly targets & reviews. 13. Job titles have little New recruits are meaning. given C Levelauthority even if it does mean veryApproves and embraces little. an open culture. 14. Looking to somehowput a dent in theMaking universe with products toflip and cash products andin.services. 15. Products & services Seeks out problemsare produced to help that people never thought they had with problems thatthen tries to solve itwith no personalthe company has toexperience in thedeal with.situation. 16. Has a valuable Tries to sellproduct.an idea. 17. Releases final Releases Minimumproduct as firstViable Product (MVP) release.to test & measure. No testing or measuring completed. 18. Looks to build just Expects a large followingto flock on a whiff of a small following news.before any launch Never puts work in to actually start buildingis announced. any means of a following. 19. Embraces the Waits for big timesmaller aspects ofbloggers and theblogging world toexposure with SEO, pick up on theReferrals, Webproduct andgenerate exposure.adverts and Events. 20. Approachesbusiness Alreadyplanning for adevelopmentlarge blue chipto buy thewith an open company.mind. 21. Biz Developmentinvolves workingHolds auditions for which company closely with has the right touse products orotherservices. companies. 22. Puts together Never wants to chargefor products & a Freemium services. Decides tomodel.undercharge. 23. Continuous A/Btesting takes place Changes thingswhen they feel thatthroughout the life they are bored. cycle. 24. Early Beta No Beta or testing. testing. 25. From day one itsabout collecting Release day isthe start ofcontact information ofcontactpotential users & capture. customers. 26. Always knowing that you need Always lookingto spend more less than you than they need.think. 27. Puts emphasis on Emphasis on who solid long term will they sell to;viability of the Microsoft orAmazon? startup. 28. Remains agile for as longSigns contractsas possible.for the long term,hires lots of team members andEmploys freelancers ahead of permanentteam members. Basically minimum amount ofavoidslong term contracts as possible. freelancers. 29. Releases a part finishedproduct, giving the Makes half-assed chance for people toattempt at a product,just wants to have experience it before revenue to keep further changes are shareholders happy.added. 30. Has a limit on Every brain storm becomes anew servicesreleasedservice or & add-ons. product. 31. Limits the number ofMeetings arrangedmeetings had.to discuss the choice of kitchenInvites only the leaders orfragrance.senior members of the teams. 32. Uses estimates &Works onmetrics for analysis of estimations,the whole process & which are always future projections. wrong. 33. Works through the Every issues iscomplaints to take action solved with a newon the most common update or a newproblems. product release. 34. ConstantlyFine is great. tweaking & neverreleasing. 35. Uses test resultsTells theto know what the market whatmarket wants. it wants. 36. Beta testingProduces 11consists of avariations forlimited numberthe Beta stage.of variations. 37. Creates value. Creates waste. 38. Accepts thatHolds onto a somethingfailing project,doesnt work and with intent to dropit.drops it. 39. Talks to customersChanges onlyduring Beta testing what they for insight. feel is wrong. 40. Has progressivetargets set close Sets yearlytogether. targets with nothing in between.Quarterly reviews. 41. Sets to increaseHas revenuerevenue on a monthlyspikes with PRwork.basis.Wants to please theinvestors rather than build Achievable but hard targets. a solid stream. 42. Brilliant strategyto cover Uses hope asgrowth, revenue a strategy. & products. 43. Anticipates somescrew ups along the Chooses to way. ignore screwups. Apologises and corrects. 44. Tests pricingRaises pricesmodels andonce finalrelease is outranges during the and has mass early stages.audience. 45. For further reading on Startup & Business success check out the following books:- REWORK - The Lean Startup - The Ultralight StartupCheck out Tactical Sales Blog for more tips & advice on sales, business& much more.