a new entrepreneurship - a backwards approach

Toward a New Entrepreneurship

A Backwards Approach

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Hello!

• Eric Jennings - Techno

• Ashley Jennings - Marketeer

Let’s Try It Out

The worst thing about my bank is ____________

.

(Hold that thought for a moment)

First, Brand!

First, Brand!

First, Brand!

2.0

Next, Product!

Next, Product!

Next, Product!

Next, Product!

Next, Product!

and frappe!

Now, Market!

Now, Market!

Now, Market!

Now, Market!

Now, Market!

First Year Sales

First Year Sales

First Year Sales

What Went Wrong?

What Went Wrong?

Stop doing, start listening

The Backwards Approach - Step 1

Customer Discovery

The Backwards Approach - Step 2

Minimum Viable Product (MVP)

The Backwards Approach - Step 3

Product/Market Fit(40% Fit)

Check Your Progress

if (P/M Fit >= 40%) {Company::rampUp();Employees::hire();Marketing::purchase();

startAtStep1Again();} else {

}

From EPICFAIL to Grandmaster

From EPICFAIL to Grandmaster

From EPICFAIL to Grandmaster

From EPICFAIL to Grandmaster

From EPICFAIL to Grandmaster

To Recap

To Recap

• First, discover customer pain points

To Recap

• First, discover customer pain points

• Next, build Minimum Viable Product

To Recap

• First, discover customer pain points

• Next, build Minimum Viable Product

• Then measure product/market fit

To Recap

• First, discover customer pain points

• Next, build Minimum Viable Product

• Then measure product/market fit

• Have at least 40%? If not, repeat

To Recap

• First, discover customer pain points

• Next, build Minimum Viable Product

• Then measure product/market fit

• Have at least 40%? If not, repeat

• Under 40% after several iterations? Fail fast. Try another idea.

Tools of the CDD Trade

• Survey.io

• GetSatisfaction

• MailChimp

• Google Analytics with conversion funneling and ROI goals

Thank you!

Questions?