Lean Launchpad - 12 Weeks Version - Meetup 2 of 12

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LEAN LAUNCHPAD THE 12W EARLY STAGE  SUPPORT PROGRAM MEETUP 2 OF 12 IGNITE DUS NOVEMBER 2ND

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MEETUP 2

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• QA zur Hausarbeit   “Top 10 Startup Delusions”   & Hausarbeit-Summary: “Business Model” • 5m Präsentationen von den Startups • 10m Feedback pro Team (auch im Spreadsheet) • Hausarbeit AGENDA - MEETUP 2

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TOP STARTUP  MISTAKES

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I MUST BUILD THIS COMPLEX THING WITH ALL THESE FEATURES 10

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NO, NOT THIS

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THIS

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I CAN SOLO-FOUND OR OUTSOURCE  EVERYTHING 9

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I AM AN EXPERT IN EVERYTHING  & I HAVE UNLIMITED FUNDS

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I DON’T   HAVE ANY COMPETITION 8

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DELUSION

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REALITY

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DO YOUR F*ING RESEARCH

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TECHNOLOGY IS MY   BIGGEST RISK 7

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NO IT IS NOT

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CUSTOMERS ARE YOUR BIGGEST   RISK  SO TALK TO CUSTOMERS

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JUST BECAUSE   YOU CAN BUILD IT   DOESN’T MEAN   YOU SHOULD

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WE’VE “LAUNCHED” 6

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FIRE &   FORGET VS  CONTINUOUS  DEPLOYMENT

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SORRY IT NEVER ENDS

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WE WILL GET TO BREAK EVEN IN YEAR THREE 5

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NO PROJECTIONS EVER FOR EARLY STAGE STARTUPS WITH NO REAL DATA TO SUPPORT IT

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NO BUSINESS PLAN  EVER SURVIVES FIRST CONTACT WITH CUSTOMERS

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B2B NO SALES YET BUT“PIPELINE FILLED” 4.1

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B2B ALL ABOUT SALES MRR CHURN

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B2B  PROVE YOU CAN SELL IT

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B2C USERS? YEAH 500 RANDOMS IN 6 MONTHS! 4.2

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500 USERS IN 6 MONTHS IS A P!SS IN THE SEA

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B2C ALL ABOUT HYPER GROWTH & ENGAGEMENT

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7-10% GROWTH WEEK OVER WEEK

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30/10/1 % ENGAGING MONTHLY DAILY AT ANY TIME

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B2C  PROVE YOU CAN GROW IT

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WE DON’T  NEED TO TALK TO CUSTOMERS 3

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MY   PRECIOUS IDEA

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THIS IS YOUR IDEA WITHOUT TALKING TO CUSTOMERS

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NO SURVEYS ALLOWED EVER  TALK TO CUSTOMERS PAINS GAINS JOBS TO   BE DONE

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ALL I NEED IS AN INVESTOR 2

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REALITY CHECK

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INVESTORS DO NOT EXIST TO GIVE YOU PERMISSION TO START ANYTHING NOR TO MAKE GOLD OUT OF YOUR CRAP IDEAS OR YOUR SHITTY TEAM

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WINNING IS  RAISING MONEY AWARDS & EVENTS 1

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STARTUP   VANITY THEATRE

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VANITY METRICS

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REVENUE  GROWTH EXIT YOUR ONLY TRUE NORTH

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www.udacity.com/overview/Course/ep245

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HOW TO TALK TO CUSTOMERS https://startupweekend.wistia.com/medias/tao3s8hf7l

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TIME SEARCH PART OFTEN TAKES 1-2 YEARS ⇦ PRE/POST ⇨ PRODUCT-MARKET FIT Test 1: Is this a problem Test 2: Is this the solution Test 3: Can we sell this solution Test 4: Can we repeat selling the solution Test 5: Can we scale our business

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PROBLEM SOLUTION TWO STEPS TO THE FIRST PHASE  CUSTOMER DISCOVERY Are we solving a real problem? Who are the customers we are solving it for? Can we ﬁnd customer who has this problem and would pay us to solve it? Is this the right solution that would actually solve the problem of the customers we found that are ready to pay us for it? STEP 1 STEP 2

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PHASE 1 PHASE 2 PHASE 3 Making   something people want Marketing   something people want Scaling your business 1 2 3 Discovering   something people want

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www.udacity.com/overview/Course/ep245

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THE MILKSHAKE https://youtu.be/sfGtw2C95Ms

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www.udacity.com/overview/Course/ep245

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PEER REVIEW

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1. Your last concrete 5 todos and what you did or didn’t do   2. Your results: Number of interviews (and % pass/fail or metrics if applicable)   3. What you learn or change in the BMC and why you think so (show BMC here) 4. Your current biggest challenge(s)   5. The next 5 CONCRETE things you will have done until next week PEER REVIEW TIME THE LEAN LAUNCHPAD   5-SLIDE FORMAT

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HOMEWORK

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1. Conduct MINIMUM 15 customer interviews, face to face 2. Read “YC’s Essential Startup Advice” (LINK) 3. Watch Lesson 4 “Business Models and Customer Development” (LINK)  AND watch Lesson 3 too if you haven’t already! 4. Book a coaching / mentoring slot for the coming week (link will be provided) 5. Update your 5-slide presentation according to your progress NEXT MEETUP NOV 9TH 1800HRS HOMEWORK MEETUP 2

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https://classroom.udacity.com/courses/ep245/ WATCH THE LECTURES

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NOW GET THE HELL OUT OF THE BUILDING

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WE HELP   YOUR COMPANY   GET READY   FOR TOMORROW TODAY PLUSANDERSEN.COM

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MORE PLUSANDERSEN.COM • Education & Training • Programs & Processes • Innovation Metrics • Management Tools • Innovation Outposts • Human Assets SOME OF OUR CUSTOMERS:

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PRE-ACCELERATION ACCELERATION GENERATION EDUCATION SELECTION FINAL DECISION SCALING UP DEALFLOW LEARNING JOURNEY LEARNING KEYNOTE KILL YOUR COMPANY INNOVATOR MASTERCLASS INNOVATOR BOOTCAMP LEAN LAUNCHPAD MVP AS   A SERVICE INNOVATION OUTPOSTS DEMO DAY PITCHING MASTERCLASS EXPERTS AS A SERVICE MENTORS AS A SERVICE TRAIN THE TRAINER SPINNING OUT +ANDERSEN PROGRAMS AT ALL STAGES

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+ANDERSEN   & ASSOCIATES INNOVATION & GROWTH THROUGH SCIENCE + ENTREPRENEURSHIP LEARN MORE  PLUSANDERSEN.COM