Introduction to Entrepreneurship - Faculty of Engineering...
-
Upload
truongmien -
Category
Documents
-
view
225 -
download
2
Transcript of Introduction to Entrepreneurship - Faculty of Engineering...
Introduction to Entrepreneurship
Practical Information to Find the Right Idea
The Art of Starting a Business Without a Product
These are not my ideas
Learn from successful people
Steve Blank
Sir Terry Matthew
Read Steve’s book
“A startup is an organization formed to search
for a repeatable and scalable business model.”
Steve
Really Fun
Relatively Free
Quite Cheap
Choose Your Mentors
Work in a Variety of Areas
Dollah Billz
Work for Myself…?
Work 9-5
Cause It’s Quick…
The Market
Cloud Computing
Democratization of delivery
Everything will have Apps (TVs, Cars, Motorola
Atrix)
Software As A Service
HTML5 Apps (Mobile and WebGL)
Twillio
Separate Idea Generation from Idea Synthesis
“More Startups Fail form a Lack
of Customers than a Failure of
Product Development”
Steve Blank
Speak with customers early… intelligently
Deliver the smallest product possible (MVP)
Iterate over ideas
Quickly measure the success of ideas
IPO: 1 Billion…. 2 Billion?
Grew 392 % Last Year
Think Vertical, Not Horizontal
Google = Horizontal
Cambrai = Vertical
The skinner the better… Think thin
Pick a market you can %100 dominate
Protection Suits
MilitaryPoliceDog
TrainersFireman
Failed
Su
cce
ss
Think About the Whole Experience…
…And Find a Way Deliver It
Define a Why You Do IT
Become an Expert… right away
Know what you don’t know & Get
Outside the Office
List of questions (Steve Blank)
Create Mental Models and
Personas of your Customers; and
try to validate them
Don’t forget to ask for money
Would you pay a million for it?
Focus on ROI
The Landing Page (Smoke Test Site)
A/B Testing
Use what you learned, advertise your idea
Make a Sign-up Now
Google Ad Words up or Other Marketing
Gauge Ideas Success
Truly an MVP Minimum Viable Product
2
5
1
3
7
4
6
Define the MVP
“ The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort” – Eric Reis
• Probably more minimal then you think
• “Only a special subset of customers will be interested and what gets them breathing heavy is the long-term vision for your product.”
•You’re selling the vision and delivering the minimum feature set to visionaries not everyone
Mentorship is a Two-Way Street
You know more then you think
Find ways to help them
Professors, Incubators, Business
Leaders in the Community
Ask for their time
Make Your Own Luck with Mentors
Find Mentors
Test Your Ideas Early and Iterate Over
Them
Great time for Newfoundland to Start a
Knowledge-based Economy
Enjoy the ride
Email: [email protected]
Twitter: amichaelwinter
If you have any questions that I can help with, do
not hesitate to ask
http://nat.org/blog/2011/06/i
nstant-company/
http://www.slideshare.net/U
TR/how-to-pitch-a-vc-dave-
mcclure
Crossing the Chasm
Business Model Generation
The 4 Steps to Epiphany
Good to Great
HackerNews
TechCrunch
Mashable
Steve Blank
Eric Reis
Google Apps (Free until
25 users)
Office 365
BizSpark
GitHub (25 $/mth)
HostedSvn.com• JIRA ($10 for 10 users)
SaaS* can power your entire business (not to
mention be your business)
*Software As A Service
Google Apps
Office 365
UnlimitedConferencing
Skype
Cambrai
Themeforest
Joomla, Wordpress
SnapSight
launchrock
Rackspace
Amazon WS
Linode
Test Ideas
Azure
FounderFuelYCombinatorWesley CloverGenesis Center
• http://nat.org/blog/2011/06/instant-company/
Backup Slides
Two Assumptions
Product Known
Customers Known
Revenue: 200M
Valuation: 9 Billion
Bubble: 45x
Facebook (private market)
Revenue: 2B
Valuation: 75B
Bubble: 35x
Color
Revenue: 0
Valuation: 41 Million
Bubble: Infinity… #DIV/0!