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INTRODUCTION TO STARTUPS(AND WHY YOU SHOULD START ONE TODAY!)
IDEA NetworkQUT
1 Sept 2014
@ColinKinner
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© 2014 Spike Innovation @ColinKinner
Background
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WHAT IS A STARTUP?
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© 2014 Spike Innovation @ColinKinner
A company that's confused about (1) what its product is, (2) who its customers are, and (3) how to make money
Startup =
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© 2014 Spike Innovation @ColinKinner
A startup is a temporary
organisation. . . designed to search for a
repeatable and scalable
business model.
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© 2014 Spike Innovation @ColinKinner
Startup = growth
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© 2014 Spike Innovation @ColinKinner
NOT Scalable
Costs
Revenues$
time
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© 2014 Spike Innovation @ColinKinner
NOT Scalable
Costs
Revenues
$
time
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© 2014 Spike Innovation @ColinKinner
Scalable
$
Costs
Revenues
time
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© 2014 Spike Innovation @ColinKinner
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© 2014 Spike Innovation @ColinKinner
Which type of business?
Social venture
Buyable startup
Scalable startup
Small business
Lifestyle business
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WHY DO A STARTUP?
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© 2014 Spike Innovation @ColinKinner
Massive global markets
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© 2014 Spike Innovation @ColinKinner
Massive global markets
April 2012
700 million registered users
40 million concurrent users
8 million paying users
$860 million annual revenues
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© 2014 Spike Innovation @ColinKinner
Low barrier to entry
“Heavy” software
“Light” software/ apps
1980’s 1990 2000 2010
Networking infrastructure
Computer hardware
Processors
$20m <$100k$50m$50m$100mCapital required
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Years to reach $1 billion annual revenue
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Reproduced with kind permission of Peter Lewis and the Newcastle Herald
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WHY DO A STARTUP NOW?
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WHAT MAKES A GOOD STARTUP IDEA?
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© 2014 Spike Innovation @ColinKinner
1. Notice things that suck, and think of ways to make them better.
2. If something bugs you, it might also bug a lot of other people.
3. Some of those people might pay for a better solution.
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© 2014 Spike Innovation @ColinKinner
What makes a good startup idea?
• You understand the problem• You can think of a better solution• You can build the solution• Few others realise it’s worth doing
Live in the future, then build what's missing.Paul Graham, Y Combinator
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© 2014 Spike Innovation @ColinKinner
Startup idea #16:
- Crowdsource professional photography
- Unlock the billions of images sitting on pro photographers’ hard drives (ie. not searchable)
- Advertisers post briefs to photographers who can submit existing images
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Disruption
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A viable business model
Customer Acquisition Cost(CAC)
Lifetime Value of Customer(LVC)
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WHAT MAKES A GOOD STARTUP?
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Team
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>
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A real problem that needs to be solved
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A compelling solution
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Daily deals sites. . .
Helping merchants sell stuff at below cost to low-value customers they will probably never see again
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Validation
Does the problem exist?
Does your idea solve the problem?
Does anyone care?
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Ability to scale
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Enterprise is HOT
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THE LOCAL STARTUP ECOSYSTEM
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PRACTICAL TIPS
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NDAs
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In need $250,000 from investors to hire a
developer to build a prototype. . .
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USEFUL RESOURCES
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paulgraham.com
Brisbane
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PROBLEMList the top 1-3 problems
EXISTING ALTERNATIVESList how these problems are solved today
SOLUTIONOutline a possible solution for each problem
KEY METRICSList the key numbers that tell you how your business is doing
UNIQUE VALUE PROPOSITIONA single, clear, compelling statement about why customers will buy your product
HIGH-LEVEL CONCEPTOne-line description of your business (eg. YouTube = Flickr for videos)
UNFAIR ADVANTAGEWhat advantages do you have that can’t be easily bought or copied
CHANNELSList your path to customers
CUSTOMER SEGMENTSList your target customers and users
EARLY ADOPTERSList the characteristics of your ideal customers
COST STRUCTUREList your main fixed and variable costs
REVENUE STREAMSList your sources of revenue
Lean Canvas
1 23 4
5
67
8
9
www.leanstack.com
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www.udacity.com/course/ep245
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jfdi
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Thank you
Colin Kinner
email [email protected]
www.spikeinnovation.com.au
@ColinKinner
http://au.linkedin.com/in/colinkinner