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Startup Talk @ JCU

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Talk to the Business and IT Interface class at JCU a couple weeks ago. The presentation covers these topics: - What is a Startup? - Search x Execution - Speed of Change: faster than ever! - What people think is important for a startup - What really matters - Starting points: Idea x Market Need - Two Main Hypotheses: Value and Growth Engine - Tool: Value Proposition Canvas - Customer Segment - Value Proposition - Revenue Model (Monetisation) - Tool: Business Model Canvas - Tool: Experiment Board (Javelin) - Case 1: Wannadoo (Brazil) - Case 2: JESI (Australia) - VCs: Most important factors for raising capital - Pitch Deck Template - Further reading - Townsville Startup Weekend

Text of Startup Talk @ JCU

  • 1. Heroku - SFStartup Talk @ JCU Everyone can do it - but how?

2. #3 Amazon (Portuguese)A bit about meThat anygood?Yeah! Dontyou speakPortuguese? 3. Search x Execution 4. 1911 1975 1998 2004 2010$ Bi - from IBM to InstagramAcquired byFacebookfor $19 Bi!!! 5. O2c0ul1us2 R ifCt ROWDFUNDING PROJECTS:Acquired by Facebook for $2 Bi!!!But then, Kickstarter gave us 6. What people think is important 7. What really matters 8. Idea Too many ideas, challenge is focus No ideas, challenge is creativity How to turn creativity into innovation: TheInventure Cycle Imagination is envisioning things that donot exist Creativity is applying imagination toaddress a challenge Innovation is applying creativity togenerate unique solutions Entrepreneurship is applying innovation,bringing ideas to fruition, by inspiringothers imagination Getting personal - best ideas involveemotion: love or hate 9. X 10. Market Need Most startups fail due tomarket risk, not technical risk Many entrepreneurs are movedby solving problems So instead of pivoting theCustomer Segment to fit youridea, you pivot the ValueProposition until you find onethat solves a market need Niche markets are prolificsources of unserviced needs Niches became global! 11. Whatever the Case, Two Main HypothesesGrowth (Engine) Paid Sticky ViralValueMinimumViableProduct 12. What next? The Value Proposition Canvas.http://businessmodelgeneration.com/canvas/vpc 13. Customer Segment Get Out Of The Building andinterview 50-100 customersI. Customer Discovery1. Three-Point Interview: Have you ever had [problem]? Tell me a story about the lasttime you had [this problem] For you, what is the idealsolution for that situation?2. Create a Persona Gather both quantitative dataand qualitative insights 14. Value PropositionNo product development, yetwere still GOOBII. Pitch: try to sell* the product /service (*only as validation)III. Concierge of Oz: deliver theproduct as a service, in person,in a manual or "fake" manner Focus and empathy are key Less is more Always define the VP from thecustomer perspective 15. The Business Model 16. Revenue Model(Monetisation) Simple & Straightforward Focus on 1 revenue source,even if there may be others Revenue model heavilydependant on Growth Engine Paid Sticky Viral Multi-sided markets = complex Experiment with price points 17. Get Out of The Building - The Experiment Board 18. CASE: Wannadoo (opusphere.com) 19. CASE: JESI Management Solutions (jesims.com.au) 20. Most Important Factors1. MKT Size: TAM / SAM / Target Market2. Product (P/M Fit) - demo if possible3. Team (Bio, Skills, Execution Capacity)4. Progress: Validated Learning /Evidence-BasedTM5. Scalability & Traction Growth Engines: Paid / Sticky / Viral Know thy metrics!What Investors Are Looking For 21. Pitch Deck1. The Market Need2. Product-Market Fit3. Product Demo4. TAM / SAM / Target Market5. Revenue / Monetization Model6. Growth Strategy7. Traction / Biz Development8. The Team (who will execute)9. Call to action: Investment needs10. 22. Further reading Lean Thinking - Daniel T. Jones, James P. Womack The Lean Startup - Eric Ries The Four Steps to The Epiphany & The Startup Owner's Manual -Steve Blank (& Bob Dorf) Business Model Generation & Value Proposition Design - AlexanderOsterwalder Lean Software Development (& sequel) - Mary & Tom Poppendieck Rework - Jason Fried & David Heinemeier Hansson Seth Godin on community marketing & doing things that matter Like a Virgin - Richard Branson And so much more! 23. Townsville Startup Weekend: 21st-23rd November 2014Website: http://goo.gl/uptrwp + FB: http://fb.me/TSVSW 24. Questions?Sara Hughes, Download, 2005, acrylicon linen, Wallace Trust CollectionRichard Sazimameetup.com/Townsville-Startups-Meetupau.theleanstartup.orglinkedin.com/in/rsazima

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