Come convincere un investitore svizzero a rischiare i propri capitali su una start-up italiana

Fredi SchmidliVenezia - Marghera, May 28 2015

Come convincere un investitore svizzeroa rischiare i propri capitali su

una start-up italiana

128.5.2015 www.pragmatic-solutions.ch

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28.5.2015 www.pragmatic-solutions.ch 2

Fredi Schmidli

• Economist and BA• Management Teams in various functions and countries• Entrepreneur• Business Angel and Boardmember: www.startangels.ch• Partner at pragmatic solutions


Goal: To improve the success rate

Source: Ash Maurya «Running Lean»

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• 66% of successful products/companies significantly change original business idea

• Develop product in half the time and at half the cost (GE)

• Reduce failure: “wrong” product and “premature” scaling

• Success comes not from a better idea, but from iterating your original Plan A to a product, which customers will buy.


In a startup it is unknown what the customer might find valuable and even who he/she is. Value is generated by learning these unknowns.

What is lean thinking?Value is “providing benefit to the customer”, anything else is waste.

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The Lean Startup Challenge


Traditional versus Lean approach

Source: Ash Maurya: Running Lean


Core Lean Principle

Genchi gembutsu


Lean Innovation is …

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a company culture touching all aspects:Values, Leadership, Organisation Chart, Incentives, Empowerment, Accountability, …

not a collection of tools

A culture can not be copied easily


Goal

Finding a business model, which is

• profitable• repeatable• scalable

or let the Startup die and start a new one


Team and other important assets

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• Language capabilities

• Cross-functional team

• Serial entrepreneurs with intrinsic motivation

• Demolishing company bureaucracy is as important as demolishing state bureaucracy.


Lean Innovation Framework


Goal: Problem Solution Fit => ValueProblem Solution FitYou validated with MVP and prospects that a specific solution will solve a known problem to such a degree that customer will buy it.

Brant Cooper

Value assumption – test whether a product or service really delivers value to specific customers once using it.

ScaleProduct Market

fit

Problem Solution

fit

Customer Discovery

Customer Validation

Customer Creation

Is the identified problem real? Will the target customer pay? Can the problem be solved?


The growth assumption – test how new customers will discover a product or service. Through what engine will you acquire new customers at affordable cost.

Goal: Product Market Fit => GrowthProduct Market FitCustomer is willing to pay. Cost of acquiring new customers is smaller than profit. Evidence that market is large enough

Brant Cooper

ScaleProduct Market

fit

Problem Solution

fit

Customer Discovery

Customer Validation

Customer Creation


Lean Canvas (by Ash Maurya / adapted from Osterwalder)

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guessguess guessguessguessguess

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Feedback loop

Design experiment

Proposal, Pretotype,Landing page, MVP …Results

Analyze results:persevere, pivotor quit?

weeks

not

years

Assumption/Hypothesis

Run experiment

Creativity happens here


Source: Eric Ries: The Lean Startup

Measure

Experiment Report

Why is it relevant?

Quantify your goalsset scope/timebox

Plan how to execute experiment

Results = Data

Document the learning (validated, invalidated or inconclusive)

Test value and growth hypothesis first

Move to next experiment

BuildLearn

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Lean Dash Board (Lean Stack)

FlowFlow

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Lean Innovation Investment Process

Source: Hans Däpp, StartAngels Network28.5.2015 www.pragmatic-solutions.ch 18

Assumption/Goal: Halving & Slicing of Angel Investments

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EffortManpower (%) 1 10 80Elapsed time (month) 1 - 3 2 - 3 18 -…

Public BPcoursemachine still running

No/few public Lean InnovationTrainingsavailable

Lean InnovationTraining is partof BA investment(= risk insurance)

Goal:On portfolio basis toGet higher Success Rate & less get funds & more quits

Lean Innovation Framework

ScaleProduct Market

fit

Problem Solution

fit

Customer Discovery

Customer Validation

Customer Creation

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Each hypothesis is validated via an experiment with BML feedback loop

Is problem worth solving, are people willing to pay, is business model profitable, repeatable and scalable

Hypotheses of plan A, …


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Feedback Door1. How likely is it that you would recommend this presentation to a friend or colleague?


Source: NetPromoter Score

2. What changes would I have to make for you to give me one point more?

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The end


agility accelerates ...

DIBATTITO


Information & Coordinates

Link Slideshare•• https://leanstack.com/LeanCanvas.pdf •• www.startangels.ch

• [email protected]
