ecosystems
TRANSCRIPT
STARTUP
from an idea to an app
King Yiu Chu, CEO & co-founder of beebump
2006 2008
2010 2012
2013
Spark a smile before you arrive!
Spark a smile before you arrive! • Announce yourself when you leave • Announce yourself when you arrive • With an animation clip, photo or video you create or choose
• Share your location during your trip from A to B
Trying to get to you …
On my way with some delay! Order 2 please! Watch it!
Who is here …?
Give me a few seconds..!
START-UP
from an idea to a successful app
King Yiu Chu, CEO & co-founder of beebump
“FOUNDING A STARTUP IS REALLY
FUCKING HARD. NO JOKE.”
Joe Stump, CEO SimpleGEO
“Focus on the need not the solution!”
You’ll lose interest when the solution doesn’t fit the need.
Adil Wali (CTO, ModCLoth)
Apps are part of an eco system
Adapt to it or create one!
users
PAID
beebump app 3rd party apps
Player SDK
beebump creation tool
(web)
beebump API’s
Content
Developers Agencies Brands
FREE • beebump • users • 3rd party providers • sponsored
• beebump • users • 3rd party providers
Let your vision evolve over time
Funding
Your brain Start
v1.0
PUNCTUATED EQUILIBRIUM
The theory that speciation occurs in spurts of major genetic alterations that punctuate long periods of little change.
Rapid evolutionary change caused by …
• changes in the eco-systems • the power of the added feature • impact on other eco-systems • development within a small group • luck
Ook wel genoemd…
Strong vision follows an evolutionary path, just like in nature. Nature, shows rapidly changes because of changes in eco-systems. The only difference with nature is that we can introduce or change eco-systems in the real world to initiate rapid changes.
Location based services
• Share your location = bye bye privacy • GPS drains your phone’s battery • Friends have to use it as well
• Perfect timing for a new eco-system:
• Developers • Brands • Agencies • Online social sharing
• Small groups make the product evolve
Evolution of online social networks
• Who solves the privacy issues? • Who secures my photos, data and social graph? • The mobile advertising space…
Evolution of online social networks
Make markets more efficient.
Go disrupt an eco system!
Or create new markets.
Form the company
How many partners?
You cannot do this on your own! • Investors want you to have a partner • Maximum of 3 founders to avoid control issues
Choose your partner wisely
What to look for? • Someone who has different skills than you • Someone with the same work ethic • Someone who has the same vision
about product development • Find people with similar values
WATCH OUT!
“Don’t start a startup because you want fame
or fortune. Do it because you are obsessed in
solving a problem.”
• King Yiu Chu, chinese/dutch passionate, experienced and creative mobile product manager with visionary skills and a sharp eye for details.
• Michael Gachet, a curious, passionate and creative French engineer with an entrepreneurial streak, a solid software and product development experience.
Funding
Bootstrapping
Venture funding
• Startups are money drainers! • funding = losing shares = losing control
create value with millions of users who love your product
Venture funding
• What’s the investors track record with startups? • Can they fund a second time? • Do they have some of their own money in play? • What’s their sweetspot? • Are they just as excited as you are?
• Show them at least a minimal viable product
Investors are NOT your friends!
Venture funding
• Hire a financial & legal advisor • Get to know all the details about VC’s
EXPLORE APPS IN THE SAME CATEGORY
• Learn how they work • Learn how the flows work • Read the reviews • Read comments about the apps on forums • Ask people what they think about it
SKETCH YOUR PRODUCT
“If you are not embarrassed when you ship your first version, you waited too long”
Matt Mullenweg, CEO & Co-founder of Wordpress
PRODUCT DEVELOPMENT
“The best products in the world start out as features.”
Kevin Systrom, CEO Instagram
PRODUCT DEVELOPMENT
“You can’t learn if you can’t fail.”
ERIC RIES, former CTO IMVU
PRODUCT DEVELOPMENT
PRODUCT DEVELOPMENT
PRODUCT DEVELOPMENT
develop a minimal viable product to get your first VC funding
PRODUCT DEVELOPMENT
Minimal Viable Product 1. Focus on one use case which
addresses the problem 2. Start with a minimal core of features 3. Release and listen to your users 4. Question your initial assumptions
based on feedback 5. Change and repeat
PRODUCT DEVELOPMENT
• Don’t focus on backend development • Focus on what the customer can see and test
PRODUCT DEVELOPMENT
• Prepare yourself for building a bigger team • Bring in tools to manage and record progress
STAY LEAN &
STAY FOCUSSED ON YOUR OBSESSION
GO TO MARKET STRATEGY
• Launch within the right target group • Organize a launch event to start building
your eco-system • Build virality into your product from the start
• Don’t spend money on advertising • Don’t be afraid to take bold decisions
AFTER LAUNCH
• Kill your darlings • Evolve fast • Stay lean & stay focussed
Pull the plug in time when you recognize you’ve failed!
“Stay stubborn when it comes to your vision. But listen when users tell you to change.”
