anurag bist-lunch & learn presentation june 24, 2016
TRANSCRIPT
Anurag Bist, Ph.D [email protected]
Investor Presentation Confidential and Proprietary © 2016 Monet Networks, Inc. All rights reserved
UCI Cove Presentation: Product Development & IP June 24, 2016
About me
Anurag Bist, Ph.D. • Founder/CEO Monet Networks
• Co-founder VxTel Successful exit of $550 Mil.
• Co-founder/CEO Moxair
• 20+ issued patents
• AT&T Bell Labs, Intel, Rockwell
Opportunity How can you map Market Opportunity to a problem you can solve?
*Kyle Nel; Lowe’s Innovation Labs
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problem
Confidential and Proprietary © 2016 Monet Networks, Inc. All rights reserved
What problem are you solving and for whom?
Quantify How can you
quantify the pain point?
Define
Innovate
Articulate the solution
Find innovative methods
for solution
How do you build Product Roadmap?
• Map identified and validated customer pain points into a number of steps that solve those pain points
• Define minimal prototype that helps you validate the solution (MVP) • Find “early adopters” • Iterate based on feedback • Meet all stakeholders
– Listen to Nay sayers more carefully!
• Redefine product features, re-design, re-launch, get new feedback
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Executing on Product Roadmap
• Product Requirement Spec • Validation from customers/partners • Feature Set Definition
– Tools – JIRA, GitHub, InVision, Slack, Skype – Measurement and Metrics
• Execution and Tracking – BaseCamp, JIRA – CRM – Hubspot, Zoho, Salesforce
• Beta launch and iteration
6
Short Term Roadmap
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Brand Platform 1.0
Feature Additions; Beta customers
Mass product roll out, Mobile; Sales & Marketing
Monet Content Engagement Platform
Content Engagement Pilot; Backend Scaling; Adding Content Owners and Publishers
Core Monet Analytics
Q1
Q2 Q3 Q4 Q5
Content Engagement Platform Core Analytics and Generic API Dev Brands Rating Platform
PRODUCT ROADMAP
[Anurag to review / build]
Pha
se 1
2015 Complete Dates
• Beta-version Brand/Agency App (Web)
• Initial Brand/Agency Pilots with limited user release
• Alpha iOS User App
Pha
se 2
P
hase
3
• iOS and Android Beta-User App• Multiple Brands and Enhanced
Rewards Redemption
• Enhanced Analytics and Dashboards • Indexing and Search Features• Initial API framework
Nov
XXX
XXX
XXX
XXX
XXX
DecOctSeptAugJulyJuneMayApril
Activities
MarFebJan
Specifying what to build
• How do you map your idea to solve the problem being addressed? • Customer feedback
• Resource planning
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Organizing Resources
• Assemble team to address all parts of product – Example – Algorithms, Architect,
H/W expert, S/W developers, Product Manager, Marketing/Sales – Usability Testing, Design, U/I – Alpha customers/testers
• Hardware and Software Resources • Potential External Dependencies
10
Strategies to Estimate time and costs
• Ballpark estimates • Excel spreadsheet planning
• Iterate with all stakeholders
• Plan with 20% overhead
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How do you track success?
• Tracking implementation of Product Features as planned • Customer demos and feedback
• Metrics! • Initial launch/trial and on-going metrics tracking
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Milestone Tracking
• All members accountable for their deliverables • Culture of accountability
• Learning from missteps
• Continuous tracking
– Milestones that impact overall company/product progress
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“Crossing the Chasm”
“Crossing the Chasm: Marketing and Selling Disruptive Products to Mainstream Customers” – Geoffrey A. Moore
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How do you Cross the Chasm? • Don’t get lost in initial success with early adopters • Learn from Feedback from the Early Adopter visionaries • Choose a Target Market Segment – beachhead approach • ITERATE
Work diligently to satisfy Early Majority Pragmatist Understand and go for the whole product
• Positioning your product • Build a Marketing Strategy • Choosing the most appropriate distribution channel and pricing
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• Acquisition of users • Engagement and Retention of User • Tracking Behavior of User in Relation to your App
– Event Based Monitoring – Demography, Geography and Behavior Based Monitoring – Defining Key Metrics for Engagement
• DAU (Daily Active Users), MAU (Monthly Active Users) • Cost Per Acquisition; Cost Per Campaign
• Fine tuning Monetization and linking Product Features to metrics – App Value = Number of Users x Life Time Value (LTV) – Ad Monetization: CTR (Click Through Rate), CPM (Cost per thousand impressions) – Value Defined By
– Actual Monetization – Loyalty of Consumers – Virality – Marketplace (Downloads, Ratings, Comments) – Social Feedback
Example: Mobile App
User Acquisition
Engagement and
Retention
Measurement and
Improvement
Monetization
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• Instagram - “Instant “Fotogram”” - Fast and Cool photo sharing experience – Pivot Multiple Times to focus on creating a great user experience, gain virailty. – Launched as Brbn (Square like Photo sharing App), Launched as Instagram in Oct. 2010
– 1 mil. User by Dec. 2010 – Acquired by Facebook in mid-2012 for 1 Billion dollars. 13 Employees, 9 investors!
Ø Monetization when started? None? Focus on User Experience, Gain Eyeballs • Monetization Today: Actual Use by Brands – Gillete Tag the Weather
App Monetization Success Story
www.esraogucu.com
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Common Mistakes?
• Team lacking right domain expertise required for a critical task • Aggressive planning resulting in inadequate resources
• Going too deep into features without customer/market validation
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Intellectual Property for Startups
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Intellectual Property: Creations/Products of Human intellect or mind. Words, Phrases, or
Symbols Inventions and
Discoveries
Industrial Designs
Intellectual Property
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Musical, Literary, or
Artistic Works
AshmarIP; Founders Institute Mentor Talk; Jan 2015
Recent Large Patent Transactions
Apple wins over jury in Samsung patent dispute, awarded $598.9 million in
damages.
BlackBerry maker Research in Motion paid $612.5 million to
patent holding company NTP to settle a long-running dispute that had threatened to shut down the popular wireless e-mail service
for its 3 million users.
21 AshmarIP; Founders Institute Mentor Talk; Jan 2015
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NY Times Example (Source: LexMachina)
AshmarIP; Founders Institute Mentor Talk; Jan 2015
23
Complicated Process- NY Times Example
AshmarIP; Founders Institute Mentor Talk; Jan 2015
Recent Large Trademark Transactions
Apple has agreed to pay $60 million (£38 million) to Chinese firm Proview to
settle a dispute involving rights to the "iPad" name.
Proview claimed that it owned the rights to the iPad name in the Chinese market
after registering it in 2000.
Payless started marketing the shoes with 4, 5 stripes resembling Adidas. Similarly 267 designs were copied.
Payless Shoesource Inc. to pay
Adidas America Inc. $15 million for infringing on its trademark and shoe
styles.
Adidas Payless
24 AshmarIP; Founders Institute Mentor Talk; Jan 2015
Recent Large Copyright Transactions
Media Rights violated copyright by illegally selling the music of the
Beatles.
Website to pay $950,000 for Beatles piracy.
Employees of SAP's TomorrowNow subsidiary accessed Oracle's
computers without permission and made thousands of unauthorized copies
of Oracle's software to serve TomorrowNow's customers. A fine of
$20 million was imposed on SAP.
25 AshmarIP; Founders Institute Mentor Talk; Jan 2015
Legally recognized exclusive rights granted for creations of the mind/intangible assets.
Intellectual Property Rights
Copyright
Patent
Industrial Design
Trademark
Trade Secret
Geographical Indication
New Plant Variety
Layout Designs
Forms of IP
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Intellectual Property and it’s flavors
AshmarIP; Founders Institute Mentor Talk; Jan 2015
IP Protection Type Definition Essentials Duration
Patent Limited duration property right relating to an invention
Novelty, Non-Obvious, and Industrial application
20 years from application filing date
Design Patent Legal protection granted to the ornamental design of a functional item
New, Original, Non-Obvious, Ornamental and article of manufacture
15 years from issuance
Copyright Legal protection for works of authorship, such as writings, music, and works of art that have been tangibly expressed
Fixation, Originality, and Minimal creativity
Life of the author plus an additional 70 years
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IP Flavors
AshmarIP; Founders Institute Mentor Talk; Jan 2015
IP Protection Type Definition Essentials Duration
Trade Secret Manufacturing, industrial, or commercial secrets that provides an enterprise with a competitive edge
Maintaining confidentiality As long its doesn't come into public domain
Trademark A word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others
Distinct symbol, word, phrase, or design
No set duration: Rights expire when owner stops using the mark in commerce.
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IP Flavors
AshmarIP; Founders Institute Mentor Talk; Jan 2015
Blood Sugar Machine
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Single Product – Multiple IP Protections
Patent Protection Machine Attributes:
• One touch cost effective measurement
• Distinctive, Smart Shape
• The mark XYZ
• The sugar level determination procedure
• Marketing Brochure
Trademark
Trade Secret
Design Patent
Copyright
AshmarIP; Founders Institute Mentor Talk; Jan 2015
Utility Patent
Why IP and Patents lack attention in Start ups?
Too busy fighting fires?
Lack of bandwidth of key resources?
Too Expensive? Can’t afford?
Don’t care. Long gone before patents are granted!
The Idea!
Assembling the Team
Product/ Market/
Customer Due
Diligence
First Product
Prototype Definition, Scoping of Resources
Investor and Partner
Collateral Preparation
Start up Priorities
Start-up Priorities and IP Strategy
30 AshmarIP; Founders Institute Mentor Talk; Jan 2015
• Global Economy • Success of any Business Vital Role
• Obtaining IP protection for products/services that block competitors • Increasing IP Protections worldwide
Protects Corporate Assets: Price and
Market Share
• Mapping Competitive Landscape • Defensive IP Protection Filings • Effective IP Litigation • Implementing Strategies to avoid Infringement
Insurance Against Legal Action
• In and Out Licensing • Cross Licensing
Chips for Strategic Alliance
• Immediate effect on bottom line • Fund R&D to improve products, Increase IP Identify and Monetize
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Importance of IP for Start-ups
AshmarIP; Founders Institute Mentor Talk; Jan 2015
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Thank you!