i've got a great idea for a tech startup. now what?
DESCRIPTION
A talk I gave on Oct 20th at NYU as part of the NYU Entrepreneurship Speakers Series.TRANSCRIPT
I’VE GOT THIS GREAT IDEA FOR A TECH STARTUP. NOW WHAT?
by Amit Klein @amitklein startupgiraffe.com
Wednesday, December 28, 2011
YOU?Me...
Wednesday, December 28, 2011
WHAT DO THESE PEOPLE HAVE IN COMMON?
Wednesday, December 28, 2011
BirchboxLinkedInZynga
AirBNBGrouponAlibaba
NON-ENGINEERS WHO STARTED GREAT TECH COMPANIES
Wednesday, December 28, 2011
IF ONLY I COULD FIND A TECH CO-FOUNDER...
Wednesday, December 28, 2011
INVESTMENT (TIME AND MONEY) IS
EARNED
...NOT GIVEN
Wednesday, December 28, 2011
VALIDATE YOUR IDEAS & DEMONSTRATE TRACTION
How do you attract tech talent and investment?
Wednesday, December 28, 2011
YOUR BIGGEST CHALLENGE WILL NOT BE TECHNICAL.
IT WILL BE DEFINING A PRODUCT THAT PEOPLE WANT TO USE.
Wednesday, December 28, 2011
AGENDA
๏ Ideas
๏ Minimal Viable Products (MVPs)
๏ Launching
๏ Q&A
๏ Group Activity
Wednesday, December 28, 2011
PassionGood MarketDomain Experience
PICKING THE RIGHT IDEA
Wednesday, December 28, 2011
AN IDEA IS AN ASSUMPTION
Break it down into testable questions
Wednesday, December 28, 2011
Develop new hypothesis(iterate)
Set goals &Measure results
Define and launch experiments
VALIDATING IDEAS
Wednesday, December 28, 2011
EXAMPLES
Wednesday, December 28, 2011
Wednesday, December 28, 2011
After we had been doing that for about nine weeks, I missed the 9 a.m. Monday deadline... At around 9:10 I started getting e-mails from people asking where the newsletters were. Those e-mails kept coming. That’s when I really knew I was onto something. That was the moment of validation.
~Marc Cenedella, Founder - TheLadders
Wednesday, December 28, 2011
TALK TO PEOPLERESEARCH THE PROBLEM(NOT YOUR SOLUTION!)
Wednesday, December 28, 2011
Wednesday, December 28, 2011
MOST STARTUPS FAIL BECAUSE OF PREMATURE SCALING
~ STARTUP GENOME
Wednesday, December 28, 2011
FAKE IT TILL YOU MAKE IT!
DELAY COMPLEXITY
Wednesday, December 28, 2011
WIZARD OF OZ TESTING
GHETTO TESTING
Wednesday, December 28, 2011
DEFINING AN MVP
Will people use it? Will they tell people about it?Will people pay for it?
What are the biggest risks?
Wednesday, December 28, 2011
Wednesday, December 28, 2011
LAUNCH EARLY
Wednesday, December 28, 2011
EARLY CUSTOMERSFind people who feel the problem most acutelyMake them feel like they have skin in the game
Communicate openly and honestly
Wednesday, December 28, 2011
WHAT DO YOU DO WHEN PRODUCT-MARKET FIT ISN’T HAPPENING?
Wednesday, December 28, 2011
SUMMARY
๏ Break ideas down into questions
๏ Focus on the riskiest question first
๏ Set realistic goals
๏ Launch experiments with least amount effort
๏ Celebrate
๏ Measure results
๏ Learn & Repeat
Wednesday, December 28, 2011
PERSONAL DEVELOPMENT
๏ Creating a strong online presence
๏ Tech - HTML/CSS, Hosting/DNS
๏ Marketing - SEM
๏ Analytics - Web Analytics 2.0 by Avinash Kaushik
๏ Lean Startup - The Lean Startup by Eric Reis
๏ Networking/Events - Ohours, Skillshare, Meetup
Wednesday, December 28, 2011
Q&A
Wednesday, December 28, 2011
GROUP ACTIVITY
Wednesday, December 28, 2011