New Venture Planning - 2013 Class #2 – October 2, 2013.
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Transcript of New Venture Planning - 2013 Class #2 – October 2, 2013.
![Page 1: New Venture Planning - 2013 Class #2 – October 2, 2013.](https://reader035.fdocuments.net/reader035/viewer/2022062314/56649dc35503460f94ab5a88/html5/thumbnails/1.jpg)
New Venture Planning - 2013
Class #2 – October 2, 2013
![Page 2: New Venture Planning - 2013 Class #2 – October 2, 2013.](https://reader035.fdocuments.net/reader035/viewer/2022062314/56649dc35503460f94ab5a88/html5/thumbnails/2.jpg)
Agenda
• Reading overview discussion• Skype with Ask Maurya• Team formation
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Startups are hard
http://www.xconomy.com/seattle/2011/11/03/infographic-college-or-incubator-for-startup-founders/attachment/screen-shot-2011-11-03-at-9-53-38-am/
Why the difference?
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Irrationality
“Reasonably smart people can rationalize any thing, but entrepreneurs are especially gifted at this.”
Most Plan A’s don’t work – then what?
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Sticktuitiveness
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How to Startup?
• Build it and they will come• Waterfall planning
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Customers anyone?
Entrepreneur’s vision (ego) drives ‘what customers want’ Limited feedback loops, classic for tech people
Waterfall – Stage gate control of a processInward focused ‘analysis, design, build, test’ Product development method
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Method to the Madness
Incubators (Y-Combinator and Tech Stars) bring process to the party – 100’s of lessons learned
‘00-’10 saw the evolution of technology firms and application of new ideas to startups.
Capturing lessons learned and formalizing the vernacular of success
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The Epiphany
Fail once, figure out how not to do that again – write it down!
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The Movement
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Essential Elements
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MVP
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The Pivot
Between ‘Discovery’ and Validation, adjust your course based on what you learned!
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The Product…
… is not the Product.
The Business Model is the Product!
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Lean Canvas – Ash Maurya
1 234
5
67
8
9
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Pirate Metrics
How to measure customer engagement?• Find You?• Good Experience?• Come Back?• Make Money?• Tell Others?