Tom Wien-Lunch & Learn Presentation May 20, 2016
Transcript of Tom Wien-Lunch & Learn Presentation May 20, 2016
The7UndeniableStepsinGoing-To-Market
Tom Wien Marketing Consultant C2C Group [email protected] www.C2Cgroupinc.com © 2016 Tom Wien. All Rights Reserved.
Noonetakesthelongway
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longway
Whenthere’sashortcut
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But,sometasksdon’tallowforshortcuts
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brushingyourteeth…
going-to-market
likechangingDres,
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ThistalkidenDfiesthekeysteppingstones,aka…
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The7UndeniableSteps
1.Modeling
2.ForecasDng
3.Storytelling
4.Teambuilding
5.Funding
6.OperaDng
7.Entering • Entering includes Channels and Pricing
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OtherListsCanBeLong,YetIncomplete
*BillAulet
Modeling:
Forecasting:
Storytelling:
Teambuilding:
Funding:
Operating:
Entering:
Missing
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1, 5, 16-23
15-17, 19
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13,18
Missing
Example: 24 Customer Criteria Steps
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UndeniableStepsUnifyApproaches
BusinessPlan Marke.ngPlanCustomerCriteria
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1. Modeling
2. Forecasting
3. Storytelling*
4. Teambuilding
5. Funding
6. Operating
7. Entering**
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10 * Includes Final Pitch Deck
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** Includes Integrated Launch Plan
UndeniableStepsAreNotLinear…
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So,YouCanSkipAroundIfYouWant
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There’sOnly1Prerequisite
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Inspira-on
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•Hunches•Trends•Experience•Customers•Suppliers
InspiraDonComesFromManyPlaces
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HunchesTrendsExperienceCustomersSuppliers
CustomersAreThe#1SourceforCompanies
• 76% of CEOs ranked customer collaboration as the top source for new ideas per MPRA.
• Aulet identifies 6, “Who is Your Customer” Criteria: 1) Market Segmentation; 2) Select a Beachhead Market; 3) Build an End User Profile; 4) Calculate the Total Addressable Market Size for the Beachhead Market; 5) Profile the Persona for the Beachhead Market; 6) Identify Your Next 10 Customers
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Start-UpsGetTheirIdeasInOtherWays
Hunches
Trends
Experience
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InspiraDonLeadsToBusinessModeling
Step1of7
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Modeling-CaseStudy
1. SoluDon-BasedDesign
2. StrategicPricing
3. SustainableRevenue
4. CustomerAcquisiDonCost
- Reverse Auction for Priceline.com
- Good Spread
- Price vs. Convenience
- eg; $7 for Online Travel vs $315 for Telecom
• Aulet identifies 4 “How Do You Make Money” Criteria: 1) Design a Business Model; 2) Set Your Pricing Framework; 3) Calculate to Lifetime Value of an Acquired Customer; 4) Calculate the Cost of Customer Acquisition
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Step2-‘Winging’AForecastWillGetYouBusted
I totally guessed
I didn’t think it mattered
I made it up
They made me do it
It was random
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So,Don’tGoTooFarAfield
• Forecasts miss their target about 100% of the time(!) • Yet, investors and banks won’t fund without a forecast • Forecasts change every 90 days for public companies
•BeConserva-ve
•UseEs-mates
•MakeAssump-ons
• Aulet identifies 4 Forecasting Criteria: 1) Identify Key Assumptions; 2) Test Key Assumptions; 3) Define the Minimum Viable Business Product; 4) Show That “The Dogs Will Eat Dog Food.”
STEP 2
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StorytellingCaseStudy–H&RBlock
•Unique-Notaknockoff.
•Ownable-Proprietary.Protectable.
•Memorable-Interes-ng.Different.
STEP 3
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TeambuildingistheMidpoint
•WhoToPick•HowMany•WhatOrder
• Balanced teams of 2 are the best combination* • Funders will demand an established team
*Serious Startups.com – surprising-facts-entrepreneurship
Step 4 of 7
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Step5–Funding
• 90% of start-ups fail from lack of funding • Phases include: 1) Seed Capital; 2) Angel Investor Funding; 3) Venture Capital (Series A-C); 4) Mezzanine Financing and Bridge Loans; 5) IPO • Cash is King
•PassiveorAc-ve•Phases•CashFlow
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Step6–OperaDng
•EconomiesofScale•Logis-cs•ExpansionPlans
• Premature scaling is the #1 reason for failure • Teams of 2 are 19% less likely to scale prematurely
• Aulet identifies 2 Operating Criteria: 1) Calculate the Total Addressable Market; 2) Develop a Product Plan 25
Step7Entering-CaseStudy
CHANNELS✔ OnlineforShaveClubRetailfornon-ShaveClubFranchiseMulD-Level
OFFERING PerUnit✔ SubscripDons✔ BundlingUserExperts
DollarShaveClub
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So,ShortcutsWorkIfYou’veBeenThereBefore
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ButIfYouHaven’t,YouMayEndUp…
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longway