Lean Startup Presentation for EWPN from Yu-kai Chou
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Yu-kai Chou talks about lean startups.
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Lean Startup Presentation for EWPN from Yu-kai Chou
- 1. Social CRM for Local Commerce Yukai@RewardMe.com
- 2. TEAM BACKGROUND The team met at UCLA and has worked in startups together for 4 years. REWARDME.COM
- 3. TEAM BACKGROUND Notable Startups include Onebox (sold $850M), Verdisoft (sold $93M), SEVEN Networks, Caustic Graphics (sold $27M), and Bunchball REWARDME.COM
- 4. Team Background Our core strength lies in eCommerce, Social Media and Gamification; we have spoken or led campaigns for many brands and universities. REWARDME.COM
- 5. RewardMe In Store REWARDME.COM
- 6. How CRMs SHOULD Work 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 7. How CRMs SHOULD Work 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 8. How CRMs SHOULD Work Better Loyalty Engagement 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 9. How CRMs SHOULD Work Better Loyalty Engagement 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 10. How CRMs SHOULD Work Better Business Intelligence 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 11. How CRMs SHOULD Work Better Business Intelligence 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 12. How CRMs SHOULD Work Better Customer Relationship 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 13. How CRMs SHOULD Work Real-time Intelligent CRM 1. Capture customer data 2. Intelligently segment 3. Influence customer at POS with Loyalty customer preferences behavior in Real-time info@rewardme.com | (888) 255-2512 | www.RewardMe.com
- 14. "While there are many loyalty products in the market, RewardMe innovates towards delivering great value by empowering businesses with deep and actionable knowledge of their customers in realtime." -HP Jin, CEO of TeleNav (NASDAQ: TNAV)
- 15. Traction Evaluation Negotiations (VP+ Level) Pilot Full Rollout REWARDME.COM
- 16. The Other Side • 4 Years of Struggling • No income • 80+ hour weeks • Doubted by peers and family • Failure after failure - economic conditions and team morale REWARDME.COM
- 17. The Startup Journey • FDWorld -> • FDCareer -> • Viralogy: Social Media Ranking -> • Viralogy: Recommendation Engine -> • RewardMe: QR Code Loyalty -> • RewardMe: Social CRM :D REWARDME.COM
- 18. Key Lessons
- 19. 1. Stay Lean • Founder Salary??? • Recruit with Passion • Have a Technical Co-founder • Be resourceful • Work-Work Balance • Utilize social media REWARDME.COM
- 20. 2. Pivot Fast • Launch fast • Validate faster • Customer development • Flashlight vs Laser • No time to mope - move on • Keep team morale together REWARDME.COM
- 21. 3. Raise Money • 3 Fs: Friends, Family, and Fools • Seed Round: Angel Investors • VC Round: Requires Traction • Keep everyone regularly updated • Play the Game - eliminate neediness • Regional Differences REWARDME.COM
- 22. 4. Financial Projections • Don’t waste too much time on it • Focus on Target Addressable Market • Use bottom-up calculations • Have a clean assumption sheet • Start moderate, end aggressive • Don’t waste too much time on it REWARDME.COM
- 23. 5. Competition • Endorse your competitors as your best teachers • Competitors don’t kill startups • Indifferent customers do • Laziness is your enemy • Competitors can teach you how to eliminate customer laziness REWARDME.COM
- 24. 6. Stay Focused • Flashlight vs Laser • Pick a niche • Limited resources • Focus product • Focus marketing • Let go of distractions REWARDME.COM
- 25. Thank You Yu-kai Chou 714.273.7088 Yukai@RewardMe.com REWARDME.COM