jktfi april 20 research & customer development: novistiar rustandi
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8/21/2019 JKTFI April 20 Research & Customer Development: Novistiar Rustandi
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StartupResearch
Novistiar Rustandi
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8/21/2019 JKTFI April 20 Research & Customer Development: Novistiar Rustandi
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Why Research?
1. Impacts strategy and tactics2. Impacts ability to identify talent3. Impacts ability to attract talent
. !emonstrated "no#ledgeimpacts ability to attract capital
$. %heaper to ma"e mista"es on
paper&. 'ill your idea(
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What to Research?1. )our *assion + ,re you e-cited?
2. %ustomer and ar"et + Will theybuy?
3. /usiness odel + Is there margin?. 0rends and 0ail#inds + Whats
changed or changing?$. Sales and oc"ups + Will people
buy?
&. *rototype 0echnology + %an youbuild it?
4. 0eam + %an you sta5 it?6. Resources + %an you fund it?
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)our *assion
,re )ou 7-cited?
Is this something you #antto do for the ne-t 28
years?
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%ustomer and ar"et
Will 0hey /uy?
• Surveys 9Surveyon"ey:
• ;oogle 0rends
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%ustomer and ar"et
7-ample of Surveys
• !emographics< =state of the
industry>• sability test• Naming• %ompetitivelandscape research• *ricing• Survey your customers 9if youre
big:
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%ustomer and ar"et
Survey 0ips
• se @aceboo" ,ds and ;oogle
,dWords• Sell it rightA =Bust ta"e a minute(><
=@un survey(>< =;et paid to help astartup(>
• !o not as"< =,re you a single< career#oman< aged 2$ 38?>
• %ollect data about the respondents<
then ignore those you dont #ant•
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%ustomer and ar"et
Survey 0ips
• In =,s"> surveys< the goal is to learn•
In =0ell> surveys< the goal is tocreate good mar"eting material
• )ou can as" Crst and tell second inthe same survey< but not vice versa
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%ustomer and ar"et
Survey 0ips
• ,s" anything you might ever
possibly #ant• ;et demographic data
• Suggest mirroring the censusDuestions
• Eets you slice by demographics• Eets you compare your results to
Indonesian averages•
a"e almost every Duestion
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%ustomer and ar"et
Survey 0ips
• ,void leading Duestions•
,void creating unrealistic situations9ma"ing them read a page of info#hen a real customer #ill have onlya oneline description:
• Falidate ans#ers 9as" the sameDuestion a di5erent #ay:
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%ustomer and ar"et
Survey 0ips
• !o< retry< do again•
Start out #ith 18• Revie# the results• @i- the survey• 0ry again #ith 188
• ;et at least 1<888 respondents 93Gmargin of error:
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%ustomer and ar"et
Survey 0ips
• *lay the Clters 9e-cludes unDualiCed
respondents and ans#ers:• Eoo" at interesting subpopulations• se lots of pretty graphs• %ombine related stu5 9li"e multiple
Duestions in one graph:
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%ustomer and ar"et
/ig ideas attract /ig 0alentHso
Why not address a multibillion dollar
mar"et?
• %hoose the right level of granularity• /igger is better than small• ;ro#ing is better than shrin"ing• ,ddressable is better than vague• *otential is not actual•
*otential mar"ets are '
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/usiness odel
Is 0here argin?
,re argins impacted by cost or salesprice?%onsiderationsA• %ost of Substitution•
%ompetitor Response• ar"et *rice Sensitivity• @i-ed vs. Fariable %osts
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0rends and 0ail#inds
Why not have at least 3 tail #inds?What trends are in your favor?Why is the time no#?
0rends that can helpA• ar"et• 0echnology• !emographic %ultural Social• Regulatory• 7conomic
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Sales and oc"ups
Will *eople /uy?
%reate a simple moc"up for your product
7-ampleA i*ad paperframes
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East 0hree
• *rototype 0echnology +%an you build it?
• 0eam + %an you sta5 it?• Resources + %an you
fund it?
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Jints and 0ips
• 0he Internet and trade associationshave volumes of data
• Studying the competition is
ine-pensive< 9and customary:• Surveys are easy• Search volume can be telling• S7% Clings< Wall Street annalist reports
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Jints and 0ips
• 7-periments #ith ad buys could #or"• @ocus ;roups #ith oc"ups al#ays
have une-pected results
• Eots of "no#ledgeable people #ant tohelpA• *otential Investors• ,dvisors• *otential Jires• Fendors
0al" to lots of =e-perts>< ignore #hena ro riate
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=7-perts> %an /e Wrong
• ,0K0 + =Why #ould you #ant to hear avoice?>
• @ord + =/ut #e #ant faster horses>
• icrosoft< ,pple + =/ut *%s are toys>• ,0s + =Why #ould anyone need
that?>• Sony Wal"man + =*eople #ant bigger
not smaller>• ;oogle + =Search is over< )ahoo #on>