Sxsw New Rules for the New Bubble 031211

1. New Rules for the New Bubble Steve Blank Stanford - School of Engineering U.C. Berkeley - Haas School Of Business www.steveblank.com Twitter: sgblank

2. I Write a Blog www.steveblank.com

3. I Drew This CustomerDiscovery Company Building CustomerValidation Customer Creation Pivot

4. I Called It:Customer Development CustomerDiscovery Company Building CustomerValidation Customer Creation Pivot

5. I Wrote This

6. A Few People Read It

7. This Talk is Based On Business Model Generation Four Steps to the Epiphany Lean Startup

8. Premise Beginning of another tech bubble Rules are different in a bubble What are they? How do they differ from what you did before?

9. A Few Short Stories

10. How Did We Get Here?

11. Paths to Startup Liquidity 1970 – 1995 build a business (revenue) 1995 – 2000 flip the business (concept IPO) 2001 – 2010 build a business (M&A) 2011 – 2014 flip a built business (M&A / IPO)

12. 1970 – 1995Building a BusinessStartups Are Small Versions of A Large Company

13. 1970 - 1995 Building a Startup the Hard Way $Millions’sto start(Proprietary hdwr/sftwr) Long product dev cycle (Waterfall) Thousands customers (Businesses) Liquidity = IPO (5 qtrsrevenue/profit) No repeatable methodology(Smaller big company)

14. 1970 - 1995Making Money the Hard Way Goal was long term company success VC’s/Founders were company builders Exits were IPO’s Founders and VC success ≤ $10 million

15. 1970 – 1995 Playbook

16. Product Introduction Model Concept/Seed Round Product Dev. Alpha/Beta Test Launch/ 1st Ship

17. Product Introduction Model The Leading Cause of Startup Death Concept/Seed Round Product Dev. Alpha/Beta Test Launch/ 1st Ship

18. Product Introduction Model:Two Implicit Assumptions Customer Problem: known Concept/Seed Round Product Dev. Alpha/Beta Test Launch/ 1st Ship Product Features: known

21. Hire Sales VP

22. Hire 1st Sales StaffSales

24. Hire Sales VP

27. Hire Sales VP

30. Waterfall

31. Q/A

33. 1995 – 2000Flipping A BusinessThe Dot.comBubble

34. 1995 - 2000The Dot-com Bubble 10’s $millions to start(get big fast, create a brand) Long product dev cycle(ship beta, 1st mover adv) Millions customers(1st consumer internet wave) Liquidity – IPO(Little/no revenue, no profits) Repeatable methodology (brand, hype, flip or IPO)

35. 1995 - 2000The Dot-com Bubble – Making Money Goal = short term exit VC’s engineering financial transactions Founders hyped their company “Musical Chairs” – last one standing looked dumb Everyone else got absurdly rich

36. 1995 – 2000 Playbook Netscape

37. 2001 – 2010Why Startups Are Not Small Versions of A Large Company

38. 2001 - 2010The Lean Startup ≤ $½ million to start(open source, commodity hdwr) Short product dev cycle(Agile Development) 100’s millions Customers(Social networks, consumer) Liquidity -M&A(revenue & network of users) Repeatable methodology (Agile + Cust Dev)

40. i.e. Product/Market fit- Repeatable sales model - Managers hired What’s A Startup? Search Execute A Startup is a temporary organization used to search for a repeatable and scalable business model

42. Professional Mgmt

43. Process

46. Product/Market fit- Repeatable sales model - Managers hired

48. Cash Flow Statement

50. Viral coefficient

51. Customer Lifetime Value

52. Average Selling Price/Order Size

53. Monthly burn rate

55. Cash Flow Statement

57. Scalable

58. Price List/Data Sheets

60. Pricing/Feature unstable

61. Not yet repeatable

63. Scalable

64. Price List/Data Sheets

66. Waterfall Development

67. QA

69. Waterfall Development

70. QA

72. Continuous Learning

73. Self Organizing Teams

74. Minimum Feature Set

76. features

77. customers/markets

79. describes “unknowns”

80. customer needs

81. feature set

82. business model

83. found by iteration

84. Plan describes “knowns”

85. Known features for line extensions

86. Known customers/markets

88. 2001 - 2010 Playbook Four Steps to the Epiphany Many Agile Texts

89. But We Were Still Using This

90. No Business Plan survives first contact with customers

91. So Search for a Business Model

92. The Business Model: Any company can be described in 9 building blocks

93. CUSTOMER SEGMENTS which customers and users are you serving? which jobs do they really want to get done?

94. VALUE PROPOSITIONS what are you offering them? what is that getting done for them? do they care?

95. CHANNELS how does each customer segment want to be reached? through which interaction points?

96. CUSTOMER RELATIONSHIPS what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?

97. REVENUE STREAMS what are customers really willing to pay for? how? are you generating transactional or recurring revenues?

98. KEY RESOURCES which resources underpin your business model? which assets are essential?

99. KEY ACTIVITIES which activities do you need to perform well in your business model? what is crucial? 54

100. KEY PARTNERS which partners and suppliers leverage your model? who do you need to rely on?

101. COST STRUCTURE what is the resulting cost structure? which key elements drive your costs?

102. value proposition customer relationships key activities customer segments key partners cost structure revenue streams key resources channels 57 images by JAM

104. The Implementation is Agile Development

106. Customer Development The founders ^ Get Out of the Building

107. Customer DevelopmentThe Search For the Business Model Company Building CustomerDiscovery CustomerValidation Customer Creation Pivot

108. Customer Discovery CustomerDiscovery CustomerValidation Company Building CustomerCreation Stop selling, start listening Test your hypotheses Continuous Discovery Done by founders

110. Market Type

111. CompetitionTurning Hypotheses to Facts

113. Customer

114. User

116. Customer

117. User

119. Market Type

121. (Customer)

124. Customer

125. User

127. Market Type

129. (Customer)

132. MVP + Customer are the first two you need to nail

134. Iteration without crisis

136. Pivot ExampleOn-line Social Buying Platform Talked to 250 Customers in 8 weeks

137. OURCRAVE is an online social shopping platform where customers can make their own deals on products or services of their choosing with sellers who can offer them in bulk at a discounted price.

140. 22% paid 5~10% transaction fee

141. 78% agreed it was too much

143. User Side : Online User Survey Power to choose products Discount on products Buyer community feedback

146. Key Question for Business Canvas #2 HOW CAN WE ATTRACT BUYERS? CUSTOMER ACQUISION COST?

147. Buyer Demand Test Best Marketing Channel for having buyers is Facebook Wall : 144 Unique Visits, 10 e-mail subscriptions for 3 days Facebook Wall Google Adwords Facebook Ads 5% 0.08% 0.005% (CTR) $7.52 $4.88 $0 (COST)

150. Online social networks

152. Key Question for Business Canvass #3 HOW CAN WE ATTRACT SELLERS? COOPERATION WITH SELLERS?

154. 3 products: HD camera, protein drink, videogame

156. Discounts offered < 10%

157. With shipping and tax still >= Amazon price

159. Seller problem intractable?

161. Only contacted larger sellers

162. Sellers need more value

163. Show them a real websiteFilter advice and stay determined! No Pivot Yet

165. Buyer facebook login

166. Online social networking integration

167. Seller login and registration

168. Seller bidding

170. Solution 1 : Rapid Implementation The Real Deal

171. Solution 1 : Rapid Implementation Main page Facebook connect Deal creation by sellers Bidding dialog

173. Customer contact information

174. Cross-selling products

175. Ad banners

177. Stanford takes notice and issues warning (oops)

178. Enumerate value propositions

179. Show live website

181. Seller Invitation Result # of sellers who replied to our email 200 sellers # of sellers who made suggestions on OURCRAVE 50 sellers

186. Key Question for Business Canvass #4 Key Activities for Next Stage Can we make enough money?

188. Bulk List Uploading Function

190. Share buyer information

195. Extra Discount

196. Free shipping or tax Coupon

197. Live comment on cravebags

198. Weekly Best cravebag vote

199. Youtube Ads Competition* OurCrave User Survey in 2/3 weeks

200. Revenue / Cost Source Revenue Cost Product Ads Transaction Fee ( Main ) Float Money Site Maintenance Marketing ( Main ) Customer Support Server/Traffic /Mobie Apps 15% of transaction Ads for buyer Seller Management 3~5% ( paypal) Outsourcing 20%/60days* * google/groupon’s rule, we are asking sellers about this rule.

205. Business Canvas – Week 1 Seller : - More customer traffic - Bulk sales- Lower transaction feesBuyer : - Better discounts - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :pro-sellers on Amazon and eBayBuyer :Online shoppers - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

206. Business Canvas – Week 2 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketingBuyer : - Better discounts - Power to choose product deal - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :pro-sellers on Amazon and eBayBuyer :Online shoppers - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

207. Business Canvas – Week 3 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketingBuyer : - Better discounts - Power to choose product deal - Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Powerful sellers -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who are willing to waitto get significant discounts on products - Web & App sales - Online social networks - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries Seller side:- transaction fees Buyer side:- targeted ads

209. Business Canvas – Week 5 - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand Seller : - More customer traffic - Bulk sales- Lower transaction fees- Brand name marketing - Access to customer contact information - Ability to cross-sell products - Site advertising Buyer : - Better discounts - Power to choose product deal - Buyer community feedback on products and sellers - Sellers who need more traffic -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads

210. Business Canvas – Week 6 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- promotion of website and brand - Sellers who need more traffic -Regionalsellers - Server providers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller : Sellers on Amazon and eBayBuyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money

211. Business Canvas – Week 7 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining online buyer/seller communities and credibility)- Promotion of website and brand - Sellers who need more traffic - Regionalsellers - Server providers Established services- Online Marketing : Google/Facebook -Payment Gateway : Paypal- Customer Service (Front side webservice) : Self- Customer Service (Product side) : Sellers- Delivery : Sellers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platformSeller :Sellers on Amazon and eBay Seller: Trustworthy sellers with verifiable websites.Buyer :Online shoppers who arewilling to waitto get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money

212. Business Canvas – Week 8 Seller : - More customer traffic - Bulk sales- Lower transaction fees- Access to customer contact information - Cross-sell their products.- Site advertising- Power to create dealsBuyer : - Better discounts- Power to choose product deal- Buyer community feedback on products and sellers - Platform/Networkmanagement (maintaining and growing online buyer/seller communities and credibility)- Promotion of website and brand - Establishing credibility - Sellers who need more traffic Established services- Online Marketing : Google/Facebook -Payment Gateway : Paypal- Customer Service (Front side webservice) : Self- Customer Service (Product side) : Sellers- Delivery : Sellers - Automated services- Communities of buyers and sellers- Co-creation of value through customer feedback Multi-sided platform Seller: Trustworthy sellers with verifiable websites.Buyer :Online shoppers who are willing to wait to get significant discounts on products - Web & App sales - Online social networks - Onlineadvertising - Physical resources (IT infrastructure)- Existing social networks - Buyer and seller communities,- Brand awareness - Variable costs: server and traffic maintenance costs- Fixed costs: rent, salaries - Online ads Seller side:- transaction fees Buyer side:- targeted ads - float money

213. Pivot ExampleRobotic Weeding Talked 75 Customers in 8 Weeks

214. Our initial plan Confidential

216. White Farms, Large Peanut farmer in Georgia

217. REFCO Farms, large grower in Salinas Valley

218. Rincon Farms, large grower in Salinas Valley

219. Small Organic Corn/Soy grower in Nebraska

220. Heirloom Organics, small owner/operator, Santa Cruz Mts

221. Two small organic farmers at farmers market

223. Parks: Stanford Grounds Supervisor, head of maintenance and lead operator (has crew of 6)

224. Toro dealer (large mower manufacturer)

225. User of back-yard mowing system

226. Maintenance Services for City of Los Altos

227. Colony Landscaping (Mowing service for stadiums)Confidential

228. Business Plan Autonomous Vehicles for Mowing & Weeding Dealers sell, installs and supports customer Co. trains dealers, supports dealers - Innovation - Customer Education - Dealer training Mowing - Owners of public or commercially used green spaces (e.g. golf courses) - Landscaping service provider Weeding - Farmers with manual weeding operations We reduce operating cost - Labor reduction - Better utilization of assets (eg mow or weed at nights) - Improved performance (less rework, food safety) - Dealers (Mowing and Ag) - Vehicle OEMs (John Deere, Toro, Jacobsen, etc) - Research labs - Mowing Dealers - Ag Dealers Engineers on Autonomous vehicles, GPS, path-planning Dealer discount COGS seek a 50-60% Gross Margin Heavy R&D investment Asset sale Our revenue stream derives from selling the equipment

229. Autonomous vehiclesWEEDING Dealers sell, installs and supports customer Co. trains dealers, supports dealers - Innovation - Customer Education - Dealer training - Low density vegetable growers - High density vegetable growers - Thinning operations - Conventional vegetables We reduce operating cost - Labor reduction (100 to 1) - Reduced risk of contamination - Mitigate labor availability concerns - Ag Dealers - Ag Service providers - Research labs - Ag Dealers - Ag Service providers Engineers on Machine Vision Two problems: - Identification - Elimination Dealer discount COGS seek a 50-60% Gross Margin Heavy R&D investment Asset sale Our revenue stream derives from selling the equipment

230. 1 Week – 1 CarrotBot Confidential

232. Marketing

233. Demo and customer feedback

234. Farming conventions.

235. Demo, demo, and demo!!

236. Proximity is paramount

237. Organic Farmers

238. Weeding Service Providers

239. Conventional Farmers

240. Cost Reduction

241. Remove labor force pains

242. Eliminate bio-waste hazards

243. Research Labs

244. Equipment Manufacturers

245. Distribution Network

246. Service Providers

247. IP – Patents

248. Video Classifier Files

249. Robust Technology

250. Dealers

251. Direct Service

252. Indirect Service

253. … then Dealers

254. Asset Sale

255. Direct Service with equipment rental

256. … then Asset SaleValue-Driven

258. Marketing

263. Mid/Large Organic Farmers

264. Agricultural corporations

266. Mid/Large Conventional Farmers

267. Cost Reduction

270. Research Labs

271. Equipment Manufacturers

274. IP – Patents

277. Direct Service

281. ($1,500/d; 120d/yr )

282. Low density: $1,500/d

283. High density: $6,000/dValue-Driven

284. World Ag Expo interviews:the need is real and wide spread 10+ interviews at show Everyone confirmed the need Robocrop, UK based, crude competitor sells for $171 K Revenue Stream Mid to small growers prefer a service Large growers prefer to buy, but OK with service until technology is proven Charging for labor cost saved is OK, as we provide other benefits (food safety, labor availability) Confidential

286. Marketing

291. Mid/Large Organic Farmers

292. Agricultural corporations

294. Mid/Large Conventional Farmers

295. Research Labs

296. Equipment Manufacturer

299. 2 or 3 Key Farms

300. Cost Reduction

303. IP – Patents

306. Direct Service

310. Low density: $1,500/d

312. Bill of Materials

313. Training & Service

315. 2011 – 2014Rules for the New Bubble

316. New Bubble Hypotheses We’re in one Rules are different in 2011 then 2006 Exits will be IPO and M&A Unlike last bubble initial IPO’s will be “real” Quality of IPO pipeline will diminish rapidly Acquirers can be “targeted” You can “engineer for an acquisition”

317. 2011 – 2014The New Bubble Short product dev cycle(Agile Development) Customers 10’s/100’s millions(Social networks, consumer) Liquidity through M&A & IPO(revenue & network of users) Repeatable methodology(Agile + Cust Dev + Bus Model) Target acquirers(Adoption, Visibility, order of battle)

318. 2011 - 2014Rules for the New Bubble Founders/VC’s can engineer financial transactions Transactions economically or usage accretive Still require Agile, Cust Dev & Bus Model Add: Adoption, Order of Battle and Visibility

319. 2011 - 2014 Playbook Business Model Generation Four Steps to the Epiphany Lean Startup Liquidity Strategy

321. Rapid Bus Model iteration

323. 2011 – 2014Adoption Get wide adoption (freemium, low costs, etc) Go for massive distribution Monetize later Can only be done Lean, requires Pivots

324. 2011 – 2014Visibility Be everywhere Look larger than life Conference, blogs, social networks PR is your best friend, invest in it

325. Closing Thoughts We’re at the beginning of another tech bubble Rules for making money are different in a bubble Founders & VC’s can engineer financial transactions Transactions need to be economically or usage accretive Still require Agile, Customer Development & Bus Model Add: Adoption, Order of Battle and Visibility

326. Carpe Diem www.steveblank.com

327. BACKUP

328. Pivot ExamplePersonal Libraries Talked to 75 Customers in 8 weeks

329. Version 1.0: Personal Libraries

330. something-something-something.com Original idea Invincible Business Model: Version 1.0 SHORT TERMResearchers Lawyers Scientists LONG TERMAvid book readers Professionals FB/TW posts from users you know Company blog, FB, TW, support forums Import, organize and share thousands of papers Targeted marketing Product development Constant iteration & testing Libraries, Universities, Research Centers Bloggers and media targeting customer segment Academic Database providers Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers Affiliate program fees Licensing Subscription fees Ad revenue AWS Infrastructure SEM Eng & Marketing OpEx

332. Extensive Surveys

333. 33,000+ Adwords

334. Compete Review

335. Market Sizing

336. 50 bloggers

337. 6 Social Networks

338. Usability Tests

340. something-something-something.com Original idea Invincible Business Model: Version 2.0 Upwardly mobile young professionals making $2-10K of discretionary online purchases a year (excluding travel) FB/TW posts from users you know Company blog, FB, TW accounts Discover online goods recommended by friends at the lowest possible price from trusted vendors Developing trusted advice and advisors Web marketing Affiliate partnerships Constant iteration & testing Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers Content Library Install base Readership base Affiliate program fees Licensing Subscription fees Ad revenue AWS Infrastructure SEM Eng & Marketing OpEx

341. New Hypotheses

342. Here’s What We Did Version 2.0: Trusted Advice

344. Extensive Surveys

345. Landing Page Tests

346. Market Research

347. Compete Research

348. Revenue Analysis

349. Two Prototypes

351. something-something-something.com Original idea Invincible Business Model: Version 2.0 Upwardly mobile young professionals making $2-10K of discretionary online purchases a year (excluding travel) FB/TW posts from users you know Company blog, FB, TW accounts Discover online goods recommended by friends at the lowest possible price from trusted vendors Developing trusted advice and advisors Web marketing Affiliate partnerships Constant iteration & testing Bloggers and Media targeting customer segment Retail marketing partners IE/FF/Chrome teams Affiliate Program Providers Affiliate program SEO/SEM/SM IE/FF/Chrome App Stores Developers Marketers Content Library Install base Readership base Affiliate program fees Licensing Subscription fees Ad revenue AWS Infrastructure SEM Eng & Marketing OpEx

354. Pivot ExampleCloud Services Talked to 50 Customers in 8 weeks

355. Week 1

356. Cloud compute marketplace Build a cloud marketplace Many different customer segments on buy-side and sell-side Direct sales to both buyers and sellers Huge dependency on technical platform

357. Week 2

358. Cloud Services Match Maker Pivot away from technical platform Help buyers find the best provider Removed financial, consumer segments Act as channel for sellers

359. Week 3

360. Automated Cloud Capacity Planning Pivot 1: Capacity Planning Pivot 2: Focus on enterprises with variable workload

361. Week 4

362. Week 5

363. Week 6

364. Week 7

366. Develop and maintain cloud infrastructure vendors relationships

368. Subscription charge to buyers

370. Develop IaaS vendor relationships

372. Subscription charge to buyers

374. Initial Product Idea Mobile application providing crowd-sourced real time traffic map in developing countries Lahore Shanghai Jakarta Bangkok

375. Business Canvas Change Progress 1

378. Customer Segment: Corporate The Drivers: Are you questioning our expertise? Archetypes Users International, local, large, and small companies Influencers and Recommenders Economic Buyers, Decision Makers Saboteurs

379. Pass/Fail FAIL

384. Business Canvas Change Progress FINAL

385. Pivot ExampleResidential Wind Turbines Talked to 100 Customers in 8 weeks

387. Get certifications

388. Get approvals from city councils

389. Cheap wind

390. Green status symbol

391. Diversify energy portfolio

392. Faster payback than alternatives

393. Single family homeowner

394. House rental groups

395. Contractors in home remodeling

396. 5 yr full service Warranty

397. Want re-buy from customers

398. Environmental, bird, wildlife groups (regulations, publicity)

399. City councils (new regulations, permits).

400. Contractors

403. Faster payback than alternatives

404. Wind

405. Cheap manufacturing process- Intellectual property

406. Need Initial capital

407. Endorsements by environmental groups, and local governments

408. Direct sales

409. Web site

410. Home Depot

411. Direct sales

412. Cost-driven model to provide inexpensive, quality product

415. Build relationship with city engineers and council members

416. Understand customer, influencers, motivations, problems, competitors

417. Form partnerships for maximum reach

418. Submit bids for city RFPs

419. Continue R&D

421. Gain Credibility

422. Retrofit wind turbine for street and highway lamps.

423. Create own wind turbines with pole manufacturers

424. Be owner of cheap green status symbol

425. Diversify green energy portfolio

426. Fast payback than alternatives

427. Single family wealthy, green home and land owner in CA, TX ,CO, WI, NY

428. Cities

429. Lighting Companies

430. 5 year full service Warranty

431. After 5 years, service charge

432. Utility to manage after warranty expiration

433. Extended warranty option

435. City councils not HOA(new regulations, permits).

436. Lighting Manufacturers

437. Electricians and Contractors for Installation/Maintenance

438. Research Labs

439. Turbine Certifiers

442. City councils not HOA

443. Cities

445. $1.5 MM of capital to start manufacturing and distribution for year 1 and 2

446. Manufacturing Parts

448. Direct sales to cities

449. Web site

450. Home Depot

451. Direct Sales

452. Service Calls

453. Leasing

455. Manufacturing costs and customer acquisition costs.

457. Community Culture

458. State Mandates

459. City Budget PlanLearn about city approval Process City Values Planning Commission Technical Evaluation and Recommendation Back to the envelop metrics IDEA Request for Quote City Council Approval City Council “Pet-Project” Finance Approval

463. Form partnerships (developers, cities, installers, maintenance) for maximum reach

465. Continue R&D

473. Cities (pilot)

474. Cities leasing

476. Developer -> Utilities -> City

477. 5 year full service Warranty,

481. City council (new regulations, permits).

485. Research Labs

487. Small Wind Developers

488. Utilities

490. R&D talent

492. Finance

493. Direct sales to cities (long term) PILOTS

494. Small Wind Developer

495. Cities leasing

497. Finance

500. May consider in-house leasing option, if upfront costs is large obstacle for customer and sufficient funding obtained (must be in future)

501. Leasing, PPA

502. Direct Sales to wind developers?

503. Leasing, PPA

507. Cheap affordable wind turbine for the everyday American

509. Diversify energy portfolio,

510. Fast payback than alternatives, < 5 yrs

513. Contractors in home remodelling

515. Want re-buy from customers

518. Contractors

520. Need initial capital

522. Direct sales

523. Web site

524. Home Depot

527. Continue R&D

534. Single family homeowner in CA, TX ,CO, WI, NY

538. Want rebuy from customers

540. City councils and neighborhood/??? (new regulations, permits).

541. Contractors

543. Need Iniitial capital

545. Direct sales

546. Web site

547. Home Depot

549. May consider in-house leasing option, if upfront costs is large obstacle for customer and sufficient funding obtained.

550. Direct Sales

551. Leasing

553. Continue R&D

565. Additional Maintenance after

569. Contractors

571. Need Iniitial capital (600k)

572. Manufacturing Facilities and Areas

574. Direct sales

575. Web site

576. Home Depot

579. Direct Sales

580. Leasing

582. Continue R&D

587. Cheap product more readily available

595. Additional Maintenance after

599. Contractors

601. Need Iniitial capital (600k)

604. Direct sales

605. Web site

606. Home Depot

610. Direct Sales

611. Leasing

617. Continue R&D

620. Cheap product more readily

627. Cities

629. Utilities

642. Direct sales to cities (long term)

643. Web site

644. Home Depot

648. Direct Sales

649. Service Calls

655. Use competitive, local, renewable energy, strong green symbol

657. Fast payback than alternatives.

658. Cities

660. Utilities

661. County – State Level

662. 5 year maintenance and warranty

668. Light manufacturers, installers to package product/services

669. Electricians, contractors, light maintenance for additional workforce

672. Endorsements by environmental groups, city consortiums for renewable energy, public utilities, city council planning department

673. Direct sales to the city or utility, and forming long term relationship for maintenance and replacements.

677. Asset sales and service calls

683. Use competitive, local, renewable energy, strong green symbol

685. Fast payback than alternatives.

686. Cities

687. Utilities

688. County – State Level

689. 5 year maintenance and warranty

693. Environmental, bird, wildlife groups

695. Light manufacturers,

696. Installers/maintainers

697. Research Labs

701. Endorsements by environmental groups, city consortiums for renewable energy, public utilities, city council planning department

702. Direct sales to the city or utility, and forming long term relationship for maintenance and replacements.

706. Asset sales and service calls

710. Form partnerships (developers, cities, installers, maintenance) for maximum reach

712. Continue R&D

720. Cities (pilot)

721. Cities leasing

724. 5 year full service Warranty,

728. City council (new regulations, permits).

732. Research Labs

734. Small Wind Developers

735. Utilities

737. R&D talent

739. Finance

740. Direct sales to cities (long term) PILOTS

741. Small Wind Developer

745. Leasing, PPA

747. Leasing, PPA

Sxsw New Rules for the New Bubble 031211

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Sxsw New Rules for the New Bubble 031211

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