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Transcript of Startups 101: Creating Your Own Business Andy Harris, Harvard ’14 Scott Crouch, Harvard ‘13...
![Page 1: Startups 101: Creating Your Own Business Andy Harris, Harvard ’14 Scott Crouch, Harvard ‘13 Saturday, July 16, 2011.](https://reader035.fdocuments.net/reader035/viewer/2022081603/56649da35503460f94a8fc90/html5/thumbnails/1.jpg)
Startups 101: Creating Your Own Business
Andy Harris, Harvard ’14Scott Crouch, Harvard ‘13
Saturday, July 16, 2011
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• Developing a Business Idea- Software Startups
• Creating a Winning Website • Validating your Business• Technical Debt
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DEVELOPING YOUR IDEA
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Solve a Problem
Opportunities vs. Ideas
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Better/Cheaper/Faster
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Your Audience
Some Business Terms:
B2B – Business to Business
B2C – Business to Consumer
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Your Market
• Do Market Research!
• Size Your Market
• Saturated Market! Use it to your advantage
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Software Business Models
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What Is it?
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CREATING A WINNING WEBSITE
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• Navigation
• Make Your Site Dynamic!
• One Column Layout
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• Create and nurture a bond with your customers!
• Present concise product information that no consumer can deny is desirable
• Give the consumer a compliment and use statements that they can easily appreciate and support
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• Testimonials, Endorsements and Referrals
• Comparisons
• Make a Promise to your Customer
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TESTING AND VALIDATING YOUR IDEA
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Goal: Test the viability of your business without major development costs.
Method: Trick the user…
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• Entice the user
• Act like the product already exists.
• Pictures!
• Forms, FAQ and Contact Us.
• NO PRICES
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• Now it’s time to be honest!
• Talk about your product and how it is a work in progress.
• Include a submit form to get their feedback and to answer any of their questions
• Discounts
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• Create a control
• Play with different strategies, and pricing
• Change your marketing approaches and see which ones work
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• Signups are higher for B2C
• Upgrades are higher for B2B
• Aspirational services will have higher conversion rates
• Things to think about: free trials, requiring billing information at signup
• Onboarding
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• Does using a third party sign-in (Facebook Connect, etc.) help/hurt conversion rates.
• Should you offer multiple sign-in options.
• Does asking for more info after login hurt conversion rates?
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• PayPal/Other Third Party Payment Systems -> Lower Purchase Rate
• Browsers vs. Searchers? Who is buying
• Accounts?
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• Entering via homepage or individual deal?
• Be very careful with your UX (User Experience)! Does cloning Groupon help or hurt?
• Display previous deals?
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Smart vs. Cheap and Quick