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Intro fall 2014
- 2. KeyCrunch ΣSIGMA STOCKS Beslutsunderlag för trygg aktieförvaltning. iQAnalytics
- 3. You have been chosen!
- 4. Today • Introduction • Team presentations • About the program • Meet your coach • Parakey + KeyCrunch • Get to know eachother • Tomorrow, Startup Grind (non-mandatory)
- 6. What’s included? • Free office space • Lean startup sessions • 1-to-1 coaching • Team development • Inspiration • Feedback events • Demo day • 20K • Coffee!
- 7. The 20K
- 8. Office space
- 10. WHY TEN WEEKS?
- 11. • Get your first customer revenues after 5 weeks • Idea on paper/no team -> 1MSEK turnover after 10.5w • Idea on a paper/no team -> 1000 users in 9w • … • You will beat this big!
- 13. [Insert Epic Company Name here] [MM$orusers] [Months]
- 16. [Insert Company Name here] [$orusers] [Years] Pixar, Rovio, Apple, Disney, Ford, AirBnB, etc
- 17. The market has changed Speed more important than ever -> focus Become no1 on something -> have the guts to select Less capital in early phases -> proof points ”Real” global market -> potential / competition Think big, start small and scale fast
- 18. Startups are not smaller versions of large companies Startups search for a scalable business model Companies execute
- 19. Online clothes retailer specialized in fashion and sports (e.g. Adidas, Fila, Vans, Converse, DKNY and Fred Perry). Raised $160 million (JP Morgan, Goldman Sachs, Bernard Arnault, Benetton + six). Developed an innovative site with 3D, zoom, 360⁰ rotation and virtual mannequins, powered by lots of JavaScript and Flash Animations. Rapidly grew to 420 people and spent heavily on PR pre launch. Delayed launch repeatedly due to technological problems. Finally launched in 18 countries simultaneously 8:59 November 3 1999 EST.
- 20. 40 % of visitors could not access the site. Mac users could not operate the site at all. The site was very difficult to use and full of errors, often causing computers to freeze. Extremely slow to load without broadband. Only one in four attempts to make a purchase worked. Low conversion rates (0.25%). Conversion rates did double by Christmas. 30% returns, not 10% as projected. A “low-bandwidth version” was relaunched within months. But low sales + high costs “Eighty-one minutes to pay too much money for a pair of shoes that I am still going to have to wait a week to get?” => Bankruptcy.
- 21. IT’S ALL ABOUT INCREASING THE PROBABILITY TO SUCCEED 21
- 22. 22
- 23. 23
- 24. Validate the problem Validate that it is a BIG problem Get the customers committed to the solution Create a scalable solution 10 customers 100 customers SCALE!
- 25. Focus focus focus…. Problem Solution (MVP) Communicate (pitch)
- 27. Understand the problem first
- 29. The program (schema Google Cal.) Wednesdays 13- • Status meeting • Lean Canvas • Value Proposition • Pitching (NABC) • Build, measure, learn • Positioning • Go to market plan • Setting the big picture • Funding • IP • Etc Some Thursdays 13- • Status meeting • Feedback events • Inspiration Others • Teamcoachning 1h/v • Team dev (tbd) • Streaming – how to start a startup
- 30. Demoday • Present a validated idea • Demonstrate ”MVP” (demo, prototype, mockup, sketches…) • Create interest from a well packaged deck
- 31. … and then what?
- 33. MEET THE COACH
- 34. OsikaInnov. Efira Pik Memo Crowdfund Solar Chemical Market MyBeacon Imnus Revibe Seerfine Race2Go Indiebook Logstation The Artist Hunt
- 35. Praktiska saker • Skrivbordsplats, wlan • Boka stående tid med er coach • Elektronisk nyckel (17.00- 07.00) – deposition • Frukost på onsdagar kl 8.30 • Kolla Google Calendern kontinuerligt! • 20 KSEK, prata med er coach • Var här, det är ni som skapar camp:et
Notas do Editor
- Please stand up
- So we all look for this graph, smooth, perfect, exponential curve. All startups have shown it, you probably will see it today as well. It’s more or less generic. Insert company name, what you are measuring and then some kind of time scale.
- However, the majority of startups have a totally different path to success. In retrospect, the curve will be smooth and exponential. But in real life (except the corner cases), this is what it will look like. Big successful companies like Rovio, AirBnB or even Apple struggled over and over again, and finally they found a value proposition that actually worked.
- In our experience, the primary reason (not the only one) is that entrepreneurs are so focused on the vision and the product, that they forget so truly listen to the users or customers. Making desktop google market research, creating awesome and smart strategies or only listening to ”experts” tend to take away the focus from the core. How to deliver a true customer value. And of course, delivering a customer value that exceeds the expectations is the only reason to exist
- Please stand up