talk at login conference 2012 on startup strategy
DESCRIPTION
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.TRANSCRIPT
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
Andris K. Berzins • Stanford during
dotcom boom • Bain & Company • 12 years building tech
startups • Startup mentor
@akberzins
The weapon of choice for most startups
@akberzins
Why? Fear of investors
@akberzins
The dreaded question: “How big is the market?”
@akberzins
But investors buy 1. Team 2. Traction 3. Market potential
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Traction • Reduces market risk • Proves team
@akberzins
Market size is hypothetical
potential @akberzins
Why focus?
Limited resources
@akberzins
The risk of not focusing enough
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What to do?
@akberzins
Laser-like focus on a niche … but keep whole market in view
@akberzins
Find customers that will buy the minimum Minimum Viable Product … as similar as possible …as easy to access as possible
@akberzins
Example: VitalFields
@akberzins
B2C: Pick a specific target
user group @akberzins
B2B: Look for a short
decision cycle
@akberzins
Find specific product features for this niche
and build them
@akberzins
Find the specific marketing channels to
reach the niche
@akberzins
Talk to users. Personally.
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Focus on fewer, returning, paying, satisfied users
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Rapid learning and iterations
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Then pick the next closest niche
@akberzins
Avoid big partners
and resellers
@akberzins
Create arguments why potential market much
bigger than initial focus
@akberzins
Exceptions: Platform plays
@akberzins
Exceptions: Infrastructure &
Partner dependency @akberzins
So what to do tomorrow?
FOCUS
@akberzins
Thanks!
Andris K. Berzins @akberzins
www.techhub.com/riga