what i learned during the next36
TRANSCRIPT
A reflection from a 2nd Cohort Alumnus
Next36 Overview
Pre-Incubator Phase
Incubator Phase
Why Technology?
What is a startup (vs a business)?
Lean Methodology
Why do startups fail?
Entrepreneurship is the relentless pursuit of opportunity without regard to resources currently controlled
Main Themes:Always imperfect informationAlways incumbents (sleeping giants)Opportunities are everywhere
December – April
Team formation
Ideation
Market Research
Prototyping
Validation
Iterating
Restarting
May - August
RecruitingBuildingMVPShipping
Customer AcquisitionNetworkingPitching
Are we really solving a problem that people care about?
Is my solution really 10x better than the alternative?
Is it polarizing?
What role does technology play?
“Coding is easy, making money is hard”
How can we get to product-market fit the fastest?
Build, Measure, Learn -> Build, Measure, LearnHypothesis testing!Analytics!Disciplined
Networking – what can I offer you?
Importance of Inspiring trust and confidence
Relationship building
Put yourself in uncomfortable positions
Success – how badly do you want it?
Case Studies (Harvard Business Review)How to identify market opportunitiesHow to execute ideaLearn from past entrepreneur and their decisionsEntrepreneurship is a way of thinking
Market StrategiesMarket dynamics and how to win in different
marketsEconomics of entrepreneurship
Legal and Finance StrategiesTerm sheets, stock options pools, valuationsLegal, tax advice, grants, funding
Team is the foundation – 100% trustValidate before writing a single line of code
Get presales if possibleLean Methodology!
Build, measure, learn via disciplined scientific approach
