2012-05 Founder Institute
-
Upload
founder-institute -
Category
Documents
-
view
218 -
download
0
Transcript of 2012-05 Founder Institute
![Page 1: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/1.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 1/34
Market & Marketingbuilding blocks for
Start-Ups
![Page 2: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/2.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 2/34
My Background
The 1990‟s: •Engineer Universidad deAndes•Exxon, Hewlett-Packard•Georgetown MBA US /Oxford UK/ Bocconi Italy
Inflexion Point
The 2000‟s •MIT Entrepreneurship Program / Fellowship
•Ventures-BeepCast: Start-Up-Virtual Iron: Start-Up – Exit – Sold to Oracle $$$-Egenera: $100 Million in Revenue
-AuthorsGlobe: Start-Up
![Page 3: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/3.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 3/34
The 3 “Amigos”
![Page 4: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/4.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 4/34
The life of an entrepreneur…
![Page 5: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/5.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 5/34
Finding a Profit Zone
![Page 6: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/6.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 6/34
Category of Adopters
Diagram from Dorf & Byers, Technology Ventures, p. 24837
![Page 7: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/7.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 7/34
Strategy to Cross the Chasm
Diagram from Geoffrey A. Moore, Inside the Tornado, p. 25
![Page 8: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/8.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 8/34
How to Find AddressableMarket Size
• Tops Down
– Industry Studies (e.g., Gartner Group,Forrester, Yankee)
– Assumptions on market share
• Bottoms Up
– How many specific sales can I count?
– Sales Rep productivity
• Comparables
– Similar products in similar markets
![Page 9: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/9.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 9/34
Incidence(million)
Diagnosed (%)
X
Cases diagnosed(million)
Treated (%)
X
Price per treatment (USD)
Number of treatments
X
Price per patient(USD)
Number of treatedpatients (million)
Market
penetration (%)
Market potentialUSD millions
Sales potentialUSD millions
X
X3,000
5
150
0.15
20,000
0.2
75
0.5
40
10,000
2
Source: Medical books, Internet research, WHOGlobal Health statistics
US Potential Per Year
![Page 10: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/10.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 10/34
Slicing Up Target Market
Segment each target market by:
• Geography
– “Customers in the northeast buy 60% of this type of
product” • Industry/Taxonomy
– “Financial services firms comprise 75% of the market”
• Type of Buyer – “40% of the market are early adopters seeking a
technological edge and willing to bet on earlytechnology”
![Page 11: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/11.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 11/34
Attacker vs. Defender Mentality
• Looking to dominate a market
• Not incremental – 5% share is not thementality or a strategy for success
• “If you are not a market leader in your chosen market, you have not defined yourmarket well enough”
![Page 12: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/12.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 12/34
Do market research by asking & doing
1. ASK YOUR FRIENDS…is this a good idea?
2. Launch your product & ask!!!
1. How satisfied are you with the product? 1 – 5
2. Will you use it/buy it again? 1 – 53. Will you recommend it to a friend? 1 - 5
CUSTOMER LOYALTY INDEX - CLI
![Page 13: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/13.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 13/34
Do market research by asking &doing
![Page 14: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/14.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 14/34
Do market research by asking & doing
![Page 15: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/15.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 15/34
Do market research by asking & doing
![Page 16: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/16.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 16/34
Summary: Market Analysis
1. Segment and select target market … and deselect
2. Tech Push vs. Market Pull
3. Know your customer is great depth – customer can lead
you to promised land4. Size Tops Down and Bottoms Up
5. Similar product, Similar Value Prop, WOM
6. Addressable Market Opportunity
7. Market Characteristics (Geography, Industry, Type)8. Dominate mentality
9. Okay to start small and grow
10.Competition certainly matters (March 4)
![Page 17: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/17.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 17/34
1. Be a great networker!
![Page 18: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/18.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 18/34
1. Be a great networker ...Advice
•At least 1 relevant event per week if not 2
•Arrive early. Talk with the speakers before …
•Know what you are looking for…
•Ask..do you know who can help me? Can you
introduce me to XYZ.
• Follow-up within 24 hours..be diligent. Followthrough with your promises
![Page 19: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/19.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 19/34
2. Deliver Awesome Presentations
![Page 20: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/20.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 20/34
2. Deliver „Awesome‟ Presentations
CONTENT
PACKAGINGDELIVERY
Elements
ProblemSolutionMarketTeamBusiness ModelFinancialsCapital RequirementsMilestones
Keys to Success
-Articulate-Structure-Passion!!!!-Light on words
-Powerful Images-PRACTICE-Know it by Hard
![Page 21: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/21.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 21/34
3. Use Inbound Marketing rather thanOutbound
Outbound marketing isabout
pushing messages out.
![Page 22: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/22.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 22/34
3. Use Inbound Marketing rather thanOutbound
Inbound is about
pulling people in.
![Page 23: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/23.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 23/34
3. Use Inbound Marketing rather thanOutbound
Where To Get Found
![Page 24: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/24.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 24/34
3. Use Inbound Marketing rather thanOutbound
Why you get found?
RemarkableContent
For Example:
Become an IndustryThoughtLeader
Start Building a List of Potential Customers
![Page 25: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/25.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 25/34
3. Use Inbound Marketing rather thanOutbound
Blog Article Performance
cvis
cusvisits
,$000.1000
2,1$
worth
![Page 26: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/26.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 26/34
3. Use Inbound Marketing rather thanOutbound
Talk about the
industry’sissues, not yoursolution.
![Page 27: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/27.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 27/34
3. Use Inbound Marketing rather thanOutbound
Cracking TheGoogle Code
![Page 28: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/28.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 28/34
3. Use Inbound Marketing rather thanOutbound
As ye SEO,so shall ye
reap.
Ranking Algorithm:f(n): Context + Authority
![Page 29: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/29.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 29/34
3. Use Inbound Marketing rather thanOutbound
Keywords:Don’t pick a
fight with aninja.
(Unless you’re a ninja)
29
![Page 30: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/30.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 30/34
3. Use Inbound Marketing rather thanOutbound
30
What is the best PageTitle?
![Page 31: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/31.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 31/34
3. Use Inbound Marketing rather thanOutbound
31
![Page 32: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/32.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 32/34
4. Have a sustainable business model
LifeTimeValue CostofAcquisition
LifeTimeValue = Revenue Per Month * 1/Churn Rate
Cost of Acquisition = (Marketing Cost + Sales Cost) / # ofacquired customers
![Page 33: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/33.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 33/34
6. Don‟t give up unless you know you are going nowhere…
![Page 34: 2012-05 Founder Institute](https://reader033.fdocuments.in/reader033/viewer/2022052916/577d1d811a28ab4e1e8c689e/html5/thumbnails/34.jpg)
7/31/2019 2012-05 Founder Institute
http://slidepdf.com/reader/full/2012-05-founder-institute 34/34
The Turning Point
The 3 “Amigos”