Customer Validation - Startup IE

A presentation geared for people considering Riverside Startup Weekend. This was part two of a multipart series given to the StartupIE meetup group in Riverside, CA.

Transcript

1. #RiversideTech Get Out of The Building! ! Validating your Startup Idea with Users
2. About Me Judd Lillestrand #RiversideTech
3. #RiversideTech New to #RiversideTech
4. I love code. #RiversideTech
5. I love building products. #RiversideTech
6. About Me
7. About Me
8. I’m always learning. #RiversideTech
10. I love building community. #RiversideTech
11. RIVERSIDE G R O U P #RiversideTech
12. #RiversideTech RIVERSIDE G R O U P
13. I’m not the expert. I’m a student. #RiversideTech
14. #RiversideTech Get Out of The Building! ! Validating your Startup Idea with Users
15. 48 hour event. Launch a business. Build a team. #RiversideTech
16. #RiversideTech We’re all on the same team!
17. #RiversideTech I’ve got an idea!
18. #RiversideTech Good Bad
19. #RiversideTech You should care.
20. #RiversideTech Should we spend our resources pursuing the idea?
21. #RiversideTech Our Idea
22. #RiversideTech
23. #RiversideTech bitcoin Bitcoin is a peer-to-peer payment system and digital currency introduced as open source software. Uses cryptography to control the creation and transfer of money. Introduced on January 3, 2009
25. insurance. bitcoin Pay a 1.5% of the total bitcoins and we will reimburse you for any losses as a result of a theft.
26. #RiversideTech Step one.
27. #RiversideTech Problem- Solution fit.
28. #RiversideTech Problem
29. #RiversideTech Solution 1.5%
30. #RiversideTech Good Bad
31. #RiversideTech Should we spend our resources pursuing the idea?
32. #RiversideTech How do we find out?
33. #RiversideTech We validate with prospects that a specific solution will solve a known problem to such a degree that they will buy it.
34. #RiversideTech Will they buy it?
35. #RiversideTech Vitamin or painkiller?
36. #RiversideTech Will they buy it?
37. Would you pay 1.5% of your total bitcoin to have it insured from theft? #RiversideTech
38. #RiversideTech Step two.
39. Identify prospects. #RiversideTech
40. Anyone owning bitcoin. #RiversideTech
41. Where do we find them?! #RiversideTech
42. Real Work
43. T H E S T R E E T S O N L I N E T H E P H O N E E V E N T S
44. Sniff out where prospects might be.
45. It’s going to depend on your business idea.
46. Do you own bitcoin? #RiversideTech
47. then… #RiversideTech
48. Would you pay 1.5% of your total bitcoin to have it insured from theft? #RiversideTech
49. #RiversideTech Would you pay?
50. T H E S T R E E T S O N L I N E T H E P H O N E E V E N T S #RiversideTech
51. The Streets #RiversideTech
52. Online
53. Online
54. Phone #RiversideTech
55. Events #RiversideTech
56. Anywhere you can talk to real people. T H E S T R E E T S O N L I N E T H E P H O N E E V E N T S #RiversideTech
57. #RiversideTech Validate with prospects that a specific solution will solve a known problem to such a degree that they will buy it.
58. It’s easy to just start building. #RiversideTech
59. Much harder to find out if you are building something people really want. #RiversideTech
60. #RiversideTech
61. Steve Blank #RiversideTech
63. There Are No Facts Inside Your Building, So Get Outside. #RiversideTech
64. • There Are No Facts Inside Your Building, So Get Outside • Pair Customer Development with Agile Development • Failure is an Integral Part of the Search for the Business Model • If You’re Afraid to Fail You’re Destined to Do So • Iterations and Pivots are Driven by Insight • Validate Your Hypotheses with Experiments • Success Begins with Buy-In from Investors and Co-Founders • No Business Plan Survives First Contact with Customers • Not All Startups Are Alike • Startup Metrics are Different from Existing Companies • Agree on Market Type – It Changes Everything • Fast, Fearless Decision-Making, Cycle Time, Speed and Tempo • If it’s not About Passion, You’re Dead the Day You Opened your Doors • Startup Titles and Functions Are Very Different from a Company’s • Preserve Cash While Searching. After It’s Found, Spend • Communicate and Share Learning • Startups Demand Comfort with Chaos and Uncertainty Customer Development Manifesto
65. Questions Comments #RiversideTech