talk at login conference 2012 on startup strategy

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Startup Strategy: How to get fast traction while selling the big vision to investors … or … How to focus on the trees while selling the forest Andris K. Berzins / @akberzins Login Conference 2012

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My presentation at the Login Conference entitled: Startup Strategy - How to get fast traction while selling the big vision to investors … or … How to focus on the trees while selling the forest.

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Page 1: Talk at Login Conference 2012 on startup strategy

Startup Strategy: How to get fast traction while selling the big

vision to investors

… or …

How to focus on the trees while selling the forest

Andris K. Berzins / @akberzins Login Conference 2012

Page 2: Talk at Login Conference 2012 on startup strategy

Andris K. Berzins • Stanford during

dotcom boom • Bain & Company •  12 years building tech

startups • Startup mentor

@akberzins

Page 3: Talk at Login Conference 2012 on startup strategy

The weapon of choice for most startups

@akberzins

Page 4: Talk at Login Conference 2012 on startup strategy

Why? Fear of investors

@akberzins

Page 5: Talk at Login Conference 2012 on startup strategy

The dreaded question: “How big is the market?”

@akberzins

Page 6: Talk at Login Conference 2012 on startup strategy

But investors buy 1. Team 2. Traction 3. Market potential

@akberzins

Page 7: Talk at Login Conference 2012 on startup strategy

Traction • Reduces market risk • Proves team

@akberzins

Page 8: Talk at Login Conference 2012 on startup strategy

Market size is hypothetical

potential @akberzins

Page 9: Talk at Login Conference 2012 on startup strategy

Why focus?

Limited resources

@akberzins

Page 10: Talk at Login Conference 2012 on startup strategy

The risk of not focusing enough

@akberzins

Page 11: Talk at Login Conference 2012 on startup strategy

What to do?

@akberzins

Page 12: Talk at Login Conference 2012 on startup strategy

Laser-like focus on a niche … but keep whole market in view

@akberzins

Page 13: Talk at Login Conference 2012 on startup strategy

Find customers that will buy the minimum Minimum Viable Product … as similar as possible …as easy to access as possible

@akberzins

Page 14: Talk at Login Conference 2012 on startup strategy

Example: VitalFields

@akberzins

Page 15: Talk at Login Conference 2012 on startup strategy

B2C: Pick a specific target

user group @akberzins

Page 16: Talk at Login Conference 2012 on startup strategy

B2B: Look for a short

decision cycle

@akberzins

Page 17: Talk at Login Conference 2012 on startup strategy

Find specific product features for this niche

and build them

@akberzins

Page 18: Talk at Login Conference 2012 on startup strategy

Find the specific marketing channels to

reach the niche

@akberzins

Page 19: Talk at Login Conference 2012 on startup strategy

Talk to users. Personally.

@akberzins

Page 20: Talk at Login Conference 2012 on startup strategy

Focus on fewer, returning, paying, satisfied users

@akberzins

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Rapid learning and iterations

@akberzins

Page 22: Talk at Login Conference 2012 on startup strategy

Then pick the next closest niche

@akberzins

Page 23: Talk at Login Conference 2012 on startup strategy

Avoid big partners

and resellers

@akberzins

Page 24: Talk at Login Conference 2012 on startup strategy

Create arguments why potential market much

bigger than initial focus

@akberzins

Page 25: Talk at Login Conference 2012 on startup strategy

Exceptions: Platform plays

@akberzins

Page 26: Talk at Login Conference 2012 on startup strategy

Exceptions: Infrastructure &

Partner dependency @akberzins

Page 27: Talk at Login Conference 2012 on startup strategy

So what to do tomorrow?

FOCUS

@akberzins

Page 28: Talk at Login Conference 2012 on startup strategy

Thanks!

Andris K. Berzins @akberzins

www.techhub.com/riga