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Semelhante a Teodora Moraru, Virtono & CGO admin tools - STARTUP financing and MVP development (2024.02.06)
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Teodora Moraru, Virtono & CGO admin tools - STARTUP financing and MVP development (2024.02.06)
- 1. Start-up Financing & MVP Development Constanta Developers, February 2024 Teodora Moraru
- 2. About me “Mircea cel Bătrân” National College Constanta Bachelor of Science - Faculty of Automatic Control & Computer Science, Politehnica University of Bucharest MBA in IT - Alfred Nobel Open Business School Switzerland DBA in Cybersecurity - Alfred Nobel Open Business School Switzerland Teodora Moraru
- 3. About me Computer Engineer and Business Strategist 10+ International Awards Forbes Romania 30 under 30 Teodora Moraru Visit our companies portfolio
- 4. What is an MVP? MVP stands for Minimum Viable Product and it refers to the smallest version of a product that can be released to market while still providing value to early adopters.
- 5. CBInsights - Top 3 Reasons Startups Fail
- 6. Target Customer Underserved Needs Product-Market Fit Value Proposition Feature Set UX Product Market Prototyping STEPS A problem looking for a solution, not a solution looking for a problem. (fall in love with the problem)
- 7. The Design Thinking process Innovation is not an event. Innovation is a process. 01 EMPATHISE Understand your customer 02 DEFINE Identify the right problem to solve 03 IDEATE Create and discover many many solutions 04 PROTOTYPE Test cheap and fail fast 05 TEST Learn, iterate and improve
- 8. What we seek is value creation Desirable Feasible Viable Do customers really have this problem? Is it painful enough? Can we afford it! Will it pay off? Can we build this solution? The Innovation Trinity painkiller vs vitamin
- 9. User Persona Strategy User personas are semi-fictitious representations of your target customers. A user persona is framed from real customer discovery and researching the needs, goals, and observed behavioral patterns of a target audience. Source: CleverTap
- 10. How do you make a User Persona? Name Photo Personal motto Bio Demographics Source: CleverTap
- 11. How do you make a User Persona? Personality traits Motivations Goals and frustrations Preferred brands and influencers Source: CleverTap
- 12. Create consistency across a business Knowledge of user behaviour Help with user-focused reasoning Better development Why your business needs User Persona Source: CleverTap Positioning the product
- 13. Software tools to help you USER PERSONA
- 14. Storyboards Strategy A storyboard is a story told graphically through a sequence of frames, often using simplified drawings and short texts. The storyboard is used to tell the story in which the user ends up using the product.
- 17. Software tools to help you STORYBOARDS
- 18. Red Routes Strategy Red Routes represent the critical tasks that will provide the most value to your users.
- 19. Red Routes Strategy Characteristics of a Red Route: • Criticality • End-to-end tasks that involve multiple steps or actions • Frequency of use • Impact on the business
- 20. Red Routes Examples Red Route for the customer: Making a request for a ride. Normal Route for the customer: Adding a payment method. Red Route for the driver: Accepting a ride request. Normal Route for the driver: Changing settings in the profile.
- 21. Red Routes Examples Red Route for the visitor: Booking a room. Normal Route for the visitor: Giving a review. Red Route for the host: Booking management. Normal Route for the host: Updating the room photos.
- 22. Usability Matrix for Red Routes
- 23. Wireframes stage You can view a Wireframe as a "blueprint" for your application or platform. It clearly outlines the structure of each individual screen, the actions that users can take, and the logical connections between screens. A Wireframe should start from well-defined functionalities, routes, and user flows.
- 24. Wireframes stage Low fidelity Medium fidelity High fidelity
- 25. Wireframes stage Before starting a wireframe, regardless of its type, a UI/UX Designer should understand the following 10 fundamental principles in Interaction Design, formulated by Jakob Nielsen: Visibility of system status 1. Match between system and the real world 2. User control and freedom 3. Consistency and standards 4. Error prevention 5. Recognition rather than recall 6. Flexibility and efficiency of use 7. Aesthetic and minimalist design 8. Help users recognize, diagnose, and recover from errors 9. Help and documentation 10.
- 27. Wireframes stage Source: spec.fm Color schemes
- 28. Software tools to help you WIREFRAMES
- 29. Software tools to help you TESTING AND ANALYTICS
- 30. Software tools to help you TESTING AND ANALYTICS
- 31. Software tools to help you TESTING AND ANALYTICS
- 33. Don't take it from me, take it from Reid Hoffman “If you aren’t embarrassed by the first version of your product, you shipped too late.” Reid Hoffman Founder PayPal & LinkedIn
- 34. Create a Business Plan with a Lean Canvas Lean canvas is a one-page business plan template created by Ash Maurya. It’s designed to create a snapshot of your business idea, distill the essence of your product or service, and break it down into key parts. LEAN CANVAS
- 35. Problem What problems are people facing? List their top 3 frustrations. Existing Alternatives How are these problems solved today? This can be a direct competitor to what you are offering or the existing ways people are employing to address their problems. Solution How will you solve these problems? Write down a solution for each problem. Key Metrics How will you measure the success of your product or service? List the key metrics. Unique Value Proposition How will you turn an unaware visitor into an interested customer? Create a clear and compelling one- liner message you want to send across. High Level Concept How does your product or service fit into the grand scheme of things? Unfair Advantage What separates you from competitors? What makes you ahead of the pack? Channels How will you reach your target consumers? Direct marketing, social media, ads, partnerships — identify the effective ways to reach them. Customer Segments Create 3 to 4 personas of the people you can help. Visualize these people who will turn to you for solutions. Early Adopters What are the specific characteristics of your early adopters? Cost Structure What are the fixed and variable costs to launch your product or service? Consider the cost at each stage from setting up a website, hiring employees, production, marketing, and bringing them to consumers. Revenue Streams What money sources will grow your money? How will you generate income? Show a pricing model of your product or service and include other revenue sources, such as sales and subscription fees.
- 36. Pitching Understand & adapt to your audience Keep it simple – but be prepared for complicated questions Ask for feedback and incorporate what YOU think is relevant
- 37. Pitching - a SIMPLE guide What is the Problem? How big is it? What is the Solution? Why are YOU best equipped to solve it? Why now and why your solution? How far are you into this? How much money do you need and for what? ▪Problem ▪TAM (SAM/SOM) ▪Solution ▪Team ▪Research/Competition ▪Status/Traction ▪Ask/Valuation/Roadmap
- 38. Grants Business Angels Crowd Funding & Equity Crowd Funding Strategic investors Venture Capital Funds Private Equity Funds Mergers & Acquisitions Stock Exchange Investment sources for growth ➢Smart money ➢Help with skills, network
- 40. Angels VCs Invest in the Problem/Founder fit - Convinced by your unique skillset Invest in the Problem/Market fit - Convinced by your traction Want to keep paperwork simple Need to comply with Fund governance Get deeply involved in helping you succeed Resort to monitoring - will help where they can! Raising capital – Angel / VC objectives
- 44. VC Funds
- 45. Duration: Typically have a short timeframe (often 3-4 months) Structure: Structured program with mentorship, guidance, and resources. Equity: Often take equity in exchange for investment. Focus: Aimed at scaling up business quickly and efficiently. Selection: Highly competitive, usually selecting startups with an MVP and market potential. End Goal: Culminates in a demo day or pitch event to investors. Startup Accelerators
- 52. Duration: More flexible, can last for a longer period. Structure: Less structured, with a focus on nurturing early-stage startups. Equity: Less likely to take equity. Focus: Aimed at developing business ideas and building a strong foundation. Selection: More inclusive, often community-focused, and may support idea-stage companies. End Goal: Graduation is less defined, focusing on business stability and self-sufficiency. Startup Incubators
- 54. Startup Press to Read
- 55. Roaring tigers of Europe
- 56. Thank you!