idea extraction

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Happy life with Software as a Service Thursday, August 29, 13

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Idea extraction - New way to make a startup

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Page 1: Idea extraction

Happy life with Software

as a ServiceThursday, August 29, 13

Page 2: Idea extraction

Thursday, August 29, 13

Page 3: Idea extraction

• Recurrence Revenue • Automated sale• B2B (business to business)

Thursday, August 29, 13

Page 4: Idea extraction

• Recurrence Revenue • Automated sale• B2B (business to business)

• No Idea• No Money

Thursday, August 29, 13

Page 5: Idea extraction

‘Old school’ way of doing it

Thursday, August 29, 13

Page 6: Idea extraction

‘Old school’ way of doing it

• Came up with great and unique idea.

• Build a product

• Show to the world

Thursday, August 29, 13

Page 7: Idea extraction

‘Old school’ way of doing it

• Came up with great and unique idea.

• Build a product

• Show to the world

Result Failure90%

Success10%

Thursday, August 29, 13

Page 8: Idea extraction

Way of doing it

1. Find market

2. Idea Extraction

3. Validate idea

4. Build and Run

Thursday, August 29, 13

Page 9: Idea extraction

Find Market

Thursday, August 29, 13

Page 10: Idea extraction

Find Market• B2B

• Market has to be profitable

• Easy reachable (internet, email, phone)

• Able to reach decision maker

• Specific niche

Thursday, August 29, 13

Page 11: Idea extraction

Idea Extraction

Thursday, August 29, 13

Page 12: Idea extraction

Idea Extraction

• Talk to your customer

• Find real world problems and Pain for particular market

• Make an idea from extracted pain

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Page 13: Idea extraction

Steps to get Customers on phone

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Steps to get Customers on phone

• Send greeting email, ask for call permission

• Teach your customers

• Make a good copy

• Call them

Thursday, August 29, 13

Page 15: Idea extraction

Idea Extraction

Thursday, August 29, 13

Page 16: Idea extraction

Idea Extraction• Business pain

• Every day pain

• Result of not solving problem is visible today

• What is most important to the customer

• Dig deep enough

• Rate a pain, repeat what people say (Phyco tryck )

Thursday, August 29, 13

Page 17: Idea extraction

What to ask• Tell me your working day?

• What activity takes the most time?

• Word & Excel - place for improvement

• Is there anything that you think “ Ahh.. I need to do it again” when you wake up ?

• Can you show me your email?

• Give a magic wand, see how they solve that problem

• Is there any software that you looking for ?

Thursday, August 29, 13

Page 18: Idea extraction

Validation

What is the best way to validate your idea?

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Page 19: Idea extraction

Validation

What is the best way to validate your idea?

Make a sale without a product

Thursday, August 29, 13

Page 20: Idea extraction

Validation Steps

• make a sketch, mockup

• sale it

• build MVP

• deliver to customers

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Build and Run

Build - Measure - Learn Lean approach

If you are not familiar with it, it’s good theme for next presentation :)

Thursday, August 29, 13

Page 22: Idea extraction

RunIdea is just multiplier of execution

Level Idea ExecutionAwfulWeakSo - so GoodGreat

Brilliant

-1 $11 $1,0005 $10,00010 $100,00015 $1,000,00020 $10,000,000

The Most brilliant idea worth 20$ without execution

Thursday, August 29, 13

Page 23: Idea extraction

Bad sides

• Faster

• Smaller

• Better

You are not going to end up with revolution project

Thursday, August 29, 13