lessons learned: pace, focus, niche and investments - startup live vienna
Post on 21-Oct-2014
37.529 views
DESCRIPTION
My talk at Startup Live ViennaTRANSCRIPT
![Page 1: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/1.jpg)
#sulvienna13 – @andreasklinger
LessonsLearned
![Page 2: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/2.jpg)
The hype of
“Startups”
[ ] Do magic landing page
[ ] Build your thing
[ ] Go to shit-loads of conferences
[ ] Get Investment
[ ] Get on Techcrunch
[ ] Get viral
[ ] Get rich
[ ] … or fail and start an accelerator
There is too much noise…
We tend to believe the “rockstar” sh*t
Some lessons from someone been
there.
![Page 3: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/3.jpg)
INVESTORS
Carmen Busquets
Dave McClure
Eden Ventures
Sherry Coutu
Tom Hulme
Seedcamp
500 Startups
LOOKK
Social Discovery &
Shopping of emerging
Fashion Designers.
![Page 4: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/4.jpg)
![Page 5: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/5.jpg)
Text
2.0
June 2010
Sept. 2011
May 2012
@andreasklinger
OK GO
June 2008
QUIT Oct 2012
![Page 6: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/6.jpg)
No time for
War-stories.
Read: www.klinger.ioor: http://www.thegap.at/autoren/autor/redakteur/
andreas-klinger/
@andreasklinger#sulvienna13
slides: http://slideshare.net/andreasklinger
![Page 7: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/7.jpg)
#sulvienna13 – @andreasklinger
LessonsLearned
![Page 8: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/8.jpg)
#sulvienna13 – @andreasklinger
Don’t rush
![Page 9: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/9.jpg)
#howtoweb – @andreasklingerflickr: good_day
Don’t rush ahead.
Typical patterns something is wrong:
“We need more customers”
“We just need an investment”
“We are looking for a VC”
“How do i scale”
… but no market proof
![Page 10: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/10.jpg)
#howtoweb – @andreasklingerfoto: LEAN LA
Startups have phases.
Find problem/solution
Find product/
market
Get efficient in Cust-acq.
Scale into similar
markets and products
Always be aware - Which phase are you?
Act accordingly
![Page 11: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/11.jpg)
#howtoweb – @andreasklingerflickr: neilarmstrong2
E.g. Marketing Stunts, PR Campaigns
Without a proven product you get thousands
people on your product. They will not stick. Just
slide off.
Teflon Marketing
Usually biggest reason your product doesn’t sell:
It’s not solving the customers problem.
Focus on customer retention not acquiring more.
![Page 12: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/12.jpg)
#howtoweb – @andreasklinger
Find problem/solution
Find product/
market
Get efficient in Cust-acq.
Scale into similar
markets and products
There is nothing you learn from 1000 or 10.000
potential customers, you wouldn’t learn from 10 or 100.
QualitativeValidation
QuantitativeApproaches
![Page 13: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/13.jpg)
#sulvienna13 – @andreasklinger
Focus
![Page 14: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/14.jpg)
Focus your product.
Don't confuse long-term vision with short-term strategy.
What is really the coreof what you do?Start with that and nothing else.
Plan outcomes not tasks
![Page 15: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/15.jpg)
What’s your product’s job.
Do guys get racing cars just to drive to work?
Read about Jobs to be done framework by Clayton Christensen
Understanding the real job: - better value description - better focus - better product differentiation
![Page 16: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/16.jpg)
flickr: bombeador
Marry a problem, not a solution
Space
Problem
,- current
| solution
#sulvienna13 – @andreasklinger
![Page 17: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/17.jpg)
Please watch Rob’s Talk:
http://bit.ly/rf-custdev
When we speak with
customers…
We bias them…
![Page 18: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/18.jpg)
#sulvienna13 – @andreasklinger
Niche, but globally
![Page 19: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/19.jpg)
flickr: jdhancock
We are trained to niche
regionally.
Find your global niche
Find your global’s best…
Customers, Partners, Advisors
Get traction in your niche before you
extend.
#sulvienna13 – @andreasklinger
![Page 20: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/20.jpg)
#sulvienna13 – @andreasklinger
Investment
![Page 21: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/21.jpg)
flickr: bombeador
For proofing
- you need surprisingly little
Try not to mix them up.
Money is either…
For growing
- did you proof?
#sulvienna13 – @andreasklinger
![Page 22: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/22.jpg)
flickr: bombeador
It’s easy to get a meeting.
VCs have “Radar” people. “Associates.”
Nothing but a time-sink.
Don’t think of investments as a
milestone
“We are talking to VCs”
#sulvienna13 – @andreasklinger
![Page 23: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/23.jpg)
#howtoweb – @andreasklingerflickr: nasamarshall
Draft your company’s topics
How to approach
investment:
Find the best possible advisors for each topic.
Global people. Try to get them commit in time
first, then in investment.
community hotels
marketplaces global scale
![Page 24: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/24.jpg)
B-level people
give C-level advice
Work with the best accelerators and
incubators to get network to advisors.
Risk-takers need guidance.
Best incubators:
YCombinator
500 Startups
Tech Stars
Seedcamp
Angelpad
![Page 25: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/25.jpg)
flickr: eole
Avoid the typical mistakes…
* NO GMBH
* NO STATEFUND
* DO VESTING
* FUNDRAISE GLOBALLY
“There is no
Heimvorteil in
investment…”
#sulvienna13 – @andreasklinger
![Page 26: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/26.jpg)
flickr: good_day
Summary:
Don’t rush, be aware of your phase
Focus.
Be strategic about investment
Get traction by global niching
#sulvienna13 – @andreasklinger
![Page 27: Lessons Learned: Pace, Focus, Niche and Investments - Startup Live Vienna](https://reader033.vdocuments.us/reader033/viewer/2022051512/54467c32afaf9f59178b46ab/html5/thumbnails/27.jpg)
#sulvienna13 – @andreasklinger
Thanks!
Feedback & Questions please.
flickr: pictureperfectpose