So You Want to Do a Startup!
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FYI - there is video that shows these slides with the audio of my presenting this to UMass Lowell here (presentation starts about 10 minutes in): http://echoess.uml.edu:8080/ess/echo/presentation/c90d10f4-f507-41ae-9fa1-4ce63aa967a0
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So You Want to Do a Startup!
- 1. So You Want To Do a Startup? Abby Fichtner UMass Lowell New Venture Fellow @HackerChick http://HackerChick.com
- 2. @HackerChick “Considering the incredible amount of human energy, passion, and creativity that we invest in creating new products & services… @EricRies
- 3. @HackerChick … it’s a terrible waste that so many of them fail.” @EricRies
- 5. “Most start-ups fail not because the technology doesn’t work, but because they’re making something that there is not a real market for” @EricRies@HackerChick
- 6. @HackerChick Single Biggest Predictor of Failure? 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)
- 7. @HackerChick Single Biggest Predictor of Failure? 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”) Sticking to Initial Business Plan
- 8. @HackerChick Instead of building our startups according to myths We can guide them with facts and knowledge Promise of the Lean Startup @EricRies
- 9. @HackerChick Startups are NOT small versions of large organizations
- 11. @HackerChick The unit of progress for entrepreneurs… learning execution not
- 14. @HackerChick
- 15. @HackerChick
- 16. @HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
- 17. @HackerChick you‘re way too dumb Andrew Mason, CEO of Groupon (NY Tech Meetup) to figure out whether your good idea is
- 18. @HackerChick
- 19. @HackerChick
- 20. @HackerChick
- 22. @HackerChick
- 24. @HackerChick Step #1a problem Find a worth solving
- 25. @HackerChick We had an idea for a new product. We went off & built it, put it on our website.
- 26. @HackerChick We had an idea for a new product. We went off & built it, put it on our website. Not a single person clicked thru to it
- 27. @HackerChick We had an idea for a new product. We went off & built it, put it on our website. What did we learn from that? Not a single person clicked thru to it
- 28. @HackerChick We had an idea for a new product. We went off & built it, put it on our website. Was there a faster way to get through that learning loop? Not a single person clicked thru to it
- 29. @HackerChick
- 31. @HackerChick
- 32. @HackerChick
- 33. @HackerChick
- 34. @HackerChick
- 41. @HackerChick
- 42. @HackerChick It’s just as important to develop your customers as it is to develop your product wikipedia
- 43. @HackerChick Photo Sharing App Recipe App Facebook for <happy people/smart kids/psychos/dogs/travel agents/astronauts…> Group Travel Planning Discover Local Events
- 44. @HackerChick Photo Sharing App Recipe App Facebook for <happy people/smart kids/psychos/dogs/travel agents/astronauts…> Group Travel Planning Discover Local Events ?!
- 45. @HackerChick VC: “There are a million cloud storage startups!” Drew: “Do you use any of them?” VC: “No” Drew: “…”
- 46. @HackerChick Know where your target audience hangs out & speak to them in an authentic way @drewhouston, Dropbox
- 47. @HackerChick
- 49. @HackerChick
- 51. @HackerChick Brainstorm Customer Problem anyone who cooks can’t find recipes
- 52. @HackerChick Brainstorm Customer Problem amateur gourmet chefs want to make fabulous food for friends & family anyone who cooks can’t find recipes
- 53. @HackerChick Brainstorm Customer Problem amateur gourmet chefs want to make fabulous food for friends & family dieters need to lose weight anyone who cooks can’t find recipes
- 54. @HackerChick Brainstorm Customer Problem amateur gourmet chefs want to make fabulous food for friends & family dieters need to lose weight anyone who cooks can’t find recipes in college ^
- 59. What is the problem? Who has the problem? @SGBlank Customer Discovery @HackerChick
- 60. How important is the problem’s solution to the customer? How valuable is the problem’s solution to the customer?@SGBlank Customer Discovery @HackerChick
- 61. @HackerChick Step #2 solution Find a that resonates
- 62. @HackerChickBoston Startup School - @HackerChickXcelerate - @HackerChick Concierge Service (AKA Wizard of Oz)
- 67. @HackerChick Step #n launch! when you have a quantum of utility @paulg, Y Combinator
- 68. @HackerChick Learn More Steve Blank @sgblank http://steveblank.com/ Eric Ries @EricRies http://startuplessonslearned.com/ Ash Maurya @ashmaurya http://ashmaurya.com/ Abby Fichtner @HackerChick http://HackerChick.com