ideation bootcamp slides 08-15-12
TRANSCRIPT
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So You Have a Startup Idea?
Startup Ideation 101
Joel Espelien - @EspelienJBDave Parker - @DaveParkerSEA
#SEFI
@Founding
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Agenda
What investors look for?
Big Ideas/ Big Market
Business model? 7 Rules
Example
BREAK
Your Turn
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Rules of the Road
Dont Ramble Ill interrupt
Network you need to build your network
Apply http://fi.co/join/bootcamp Application Fee is Waived before Sept 2 Early
Admission Deadline
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http://fi.co/join/bootcamp
15 Week Program with Local and SV Mentors
Ideation to fundraising
Office hours/Individual coaching Tuesday night meals
Costs *see FAQ
$50 Application Fee/Test Waived $995 Course Fee
3.5% of company into shared pool (peers, mentors and FI)
Post funding tuition - $4,500
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Mentors
Andy Liu
Todd Hooper
Dan Schapiro T.A. McCann
Rebecca Lovell
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Introductions
Joel Espelien
Chief Business Officer
General Counsel
SVP Strategy with Packet Video
Active Angel
Mentor for TechStars and FI in
Spanish
Dave Parker
Director, Seattle Founder Institute
CEO & Co-Founder Bundled.com
Co-Founder OneAccord Partners
Board Member Guidant Financial
Former Board Member
Classmates.com
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Dont be afraid to share your idea!
Ideas dont matter feedback, execution and
iteration do
You have more to gain than to lose
Nobody is going to steal your stupid idea
Dont ask an Investor to sign your NDA
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Most of you
have bad ideas,
anyway.
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Really.
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How Investors See You
Big Market/Big Idea
Team that can execute
Scalable ProductTraction
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About Markets?
B2B or B2C
Billions
$100M If you own the market how big would your be
Established vs. Immature
Market Leader vs. First Mover Known or unknown
Go-To-Market
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Big Ideas?
Simple
Aha idea
Transformational vs. Incremental Changes the world
Changes the market
Established or New Idea
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Passion!
Ideas!
Product
Doesnt make it a
great business
Execution
Company
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13 Consumer Models
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13 Consumer Models
TechCrunch Teardown: 13 Consumer Internet
Business Models (Part I) The World According To
Carp http://fndri.com/jEvuYa - Steven Carpenter
Media
Paid Service
Physical Commerce
Your idea has to foot to a model!
Benchmarks
http://fndri.com/jEvuYahttp://fndri.com/jEvuYa -
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7 Rules
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7 Rules
1. Simple ideas win
2. You have one revenue stream
3. Name your customer4. Make something explainable
5. Small markets suck
6. Mix in secret sauce7. Be original
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Explain Your Idea
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I want to develop
to help
(solve a problem)
(with secret sauce)
(a defined offering)
(a target audience)
Idealibs for Startups
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The Offering
Be Specific
a social utility" vs "an ecommerce website"
Avoid Buzzwords
"mobile social CRM" vs "an iPhone application"
Skip the Adjectives and Superlatives
"a revolutionary service" vs "backend software"
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The Audience
Identify Demographics
"female consumers" vs new mothers"
Specify Your Market
"artists and musicians" vs "unsigned alternative bands"
Clarify the Buyer
"large businesses" vs "purchasing managers at
multinational companies"
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The Problem
Make sure everyone can understand the offering.
Hint at a viable revenue model.
"find deals online" vs "shop for hip baby products at
wholesale prices"
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The Secret Sauce
Explain what makes your business unique.
"faster" vs "with automated ordering for diapers and other
staples
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BREAK
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Workshop
Your
Turn!
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I am developing
(solve a problem)
(a targetaudience)
(with secret sauce).
(a definedoffering) to help
Step 1: Articulate
Step 2: Evaluate
Simple idea? One revenue stream?
Identifiable customer? Easily explainable?
Large enough market? Legitimate secret sauce?
Original?
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Thank You!
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Joel Espelien@EspelienJB
Dave Parker@DaveParkerSEA
ForestTreesBark.com
http://fi.co/join/bootcamp
Early Admissions Deadline Sept 2nd
Final Deadline Sept 23rd
Session Starts October 2nd
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http://fi.co/join/bootcamp
15 Week Program with Local and SV Mentors
Ideation to fundraising
Office hours/Individual coaching
Monday night meals
Costs
$50 Application Fee/Test Waived! $995 Course Fee
3.5% of company into shared pool (peers, mentors and FI)
Post funding tuition - $4,500
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