How to build a startup experience sharing

1ee211172ad7e550d0f83987c842dbe0?s=47 Hsin Yi, Chen
July 31, 2014
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How to build a startup experience sharing

1ee211172ad7e550d0f83987c842dbe0?s=128

Hsin Yi, Chen

July 31, 2014
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  1. Udacity : How to build a startup 學習⼼心得 ! hychen@BJ4

  2. This cours • https://www.udacity.com/course/ep245

  3. Startup • is not a small company • is not

    about execution, is about searching. • most startups fails from a lack of customers. • Customer development is crucial in startups.
  4. Customer development • Search,Pivot a feedback • customer discovery and

    validation • Execution! • customer creation and company building
  5. Business Models Matter Business Models Matter - Ann Miura-Ko @Stanford

    Ecorner
  6. To understand what your assumptions are

  7. Business Model Frameworks • Value Networks from Verna Allee •

    Henry Chesbrough • Strategy Diamond • Patrick Stealer • Business Model Canvas (used in this course)! • Long Range Planning • Seizing the White Space • Escape Velocity http://timkastelle.org/blog/2012/01/eight-models-of-business-models-why-theyre-important/
  8. Business Model Canvas

  9. Get Out The Building! Test Your Hypothesis

  10. Find the idea • 在Value proposition:找到 Minimal viable product •

    在customer segment:了解Customer Archetype
  11. Value Proposition What is the value provided from you?

  12. Product Market Fit • Customers gain? • Customers pain? •

    Frequency? • Important?
  13. value proposition • newness • performace • customization • "getting

    the job done" • design • brand/status • price: 不僅是個CS, 也是VP • cost reduction • risk reduction • accessibility
  14. Value Proposition Questions • Competition: what do customers do today?

    • Technology and market insights: why is this problem so hard to solve? • Market size: how big is this market • Product: how do you do it • Service: pain killers or gain creating • Do customers feel better? Eliminate risk? • What make customers happy? Better outcome?
  15. • your product and service is not just bits and

    hardware • it's actually the whole product and entire package you deliver.
  16. Customer Segments Who’s your customer?

  17. Customer Archetypes • Draw a day of life of a

    customer. • Know who they are • Where do they buy • Why do they want to purchase
  18. User != Buyer (maybe)

  19. Customer Type • influencer (影響者) • recommender (建議者) • decision

    maker (決定者) • economic buyer (採購者) • saboteur (破壞者)
  20. Customer Type (e.x.) • influencer (Report users) • recommender (Line

    Manager) • decision maker (CIO) • economic buyer (CFO) • saboteur (IT)
  21. Market Type • Existing market • Re-segmented market • New

    market • Clone market
  22. Existing Market • Customer: Known • Customer Needs: performance •

    Competitors: Many • Risk: lack of branding, sales, distribution • Examples: Google Search • Sales curve:
  23. Re-Segmented Market • Customer: Possibly Known • Customer Needs: better

    fit • Competitors: many if wrong, few if right • Risk: get market and product redefinition wrong • Examples: Southwest • Sales curve:
  24. New Market • Customer: unknown • Customer Needs: transformational improvement

    • Competitors: none • Risk: Evangelism and Education cycle • Examples: Groupon • Sales curve:
  25. Clone Market • Customer: possibly known • Customer Needs: Localized

    version • Competitors: None • Risk: misjudging the local needs • Examples: Baidu • Sales curve:
  26. None
  27. Customer Relationships How do you get, keep and grow customers?

  28. Physical / Virtual Get, Keep, Growth

  29. Get Physical • Awareness • Interest • Consideration • Purchase

  30. Keep Physical • Loyalty Programs • Product Update • Customer

    Satisfaction
  31. Grow Physical • unbundling: 把產品feature分開來賣 • up sale: 把產品分等級,基本款、⾼高級款 •

    cross sale: 賣A產品時順便推廣B產品 • referral: 推廣給下⼀一個客⼾戶
  32. Get Web • Acquire • Activate

  33. Keep Web • loyalty programs • contests/events • blogs/RSS/email •

    social media
  34. Growth Web • lifetime value: 客⼾戶從get keep grow的過程中總共的 消費 •

    ⽤用有DLC的Xbox Game為例 • 買遊戲的時候付了⼀一次 • 買⼀一個DLC⼜又付了⼀一次 • 遊戲內推銷相關遊戲,使⽤用者⼜又買,⼜又買了⼀一次。 • LTV > CAC!!!!
  35. Channels How to deliver? virtual or physical?

  36. what is your first channel on day one?

  37. Physical • OEM • system integrator • value-added Reseller •

    direct sales force • web/online • distributors • dealers • retailers
  38. Virtual • dedicated e-commerce: your own website • platform app-store:

    ios/android app store • 2-step distribution: sell your product via other product • aggregator: 資訊整合者 • social commerce site : FB/Twitter • flash sales : 限時搶購
  39. Channels Value • Which part do you belongs to? •

    How much values do your add? • Channel Economics matters
  40. Revenue Models How do you make money?
 Revenue Stream &

    Pricing Tactics
  41. Revenue Stream • the company uses to generate cash from

    each customer segment
  42. Revenue Stream • Asset Sale • Usage Fee • Subscription

    Fee • Renting • Licensing • Intermediation Fee • Advertising
  43. Pricing Tactics • the tactics you use to set the

    price in each customer segment • based on cost • based on value since you’ve approached early users, ask them!
  44. Fixed Pricing • cost+markup • value priced • volume priced

  45. Dynamic Pricing • negotiation • yield management • real-time markets

    • auction
  46. single/multi-side ? • single: 營收優先(營收優先:考慮⽉月營收成⻑⾧長⾄至兩 倍的時間、何時突破每⽉月100k、何時突破每⽉月1M、 達到這些⾥里程碑時對這些事業的假設) • multi: 使⽤用者優先、營收其次(使⽤用者優先:如何達

    到每⽉月10M使⽤用者、怎麼成為五⼤大最多瀏覽網站、付 費者如何付費?)
  47. Key Questions • What are my customer paying for? •

    How will you package your product? • How will you price the offering? • How many will you sell • 估計的market size and market share是多少 • 通路能賣多少 • 通路的成本 • How many customer activations • How much will it cost to acquire a customer
  48. Partners Do you need partners? Why they need you?

  49. Partner Type • Strategic Alliances • Joint Business Development •

    Coopetition • Key Suppliers • Joint Venture • Traffic Partners
  50. Risk • Big companies move slowly and the time of

    startups are expensive • Without shared vision when co-design product/service • More management cost • Different goals and expectations • Ownerships are not clearly • Contact window may changes • IP issues
  51. Keep good relationships with big companies because they may acquire

    your company in the future
  52. Resources What is most important for the business?

  53. Physical Resource • Company Facilities • Products • Services

  54. Financial Resource Name Financial Operating Friends o Family o Crowdfunding

    o Lease-Lines o Angles o Venture Captial o o Factoring Vendor-Finacing o SBIR/STTR Grants o SBA Grants o Corporate Partners o o
  55. Human Resource • Qualified Employees/Culture • Advance your personal career

    • Teacher • Coach • Mentor • Advisers
  56. Intellectual Properties • Trademark • Copyright • Contract • Trade

    Secrets • Patent
  57. Costs • What is your cost structure in each key

    components • Burn Rate : How much money do you spend every month • When will you run out of the money?
  58. Thanks