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10 No. Steps To Build a Startup

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@draycottmc

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So... You’ve Got a Killer Idea! What Next?

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1 No. Research Everything, well, almost!

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Customers 3 Areas:

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Customers Competitors 3 Areas:

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Customers Competitors Collaborators 3 Areas:

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Customers Competitors Collaborators 3 Areas: What to ask?

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Customers Competitors Collaborators 3 Areas: What to ask? Who, What, Where, How & Why?

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2 No. Model Because who needs a plan??

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“No campaign plan survives first contact with the enemy”

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No content

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Who’s the customer? All the people and organisations your creating value for!

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Ok…so you know who But why will the buy?

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Ok…so you know who But why will the buy? Value

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Value Newness

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Value Value Newness Performance

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Value Value Value Newness Performance Brand

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Channels? Direct Indirect Vs.

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Customers

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How…

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How… Personal Assistance

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How… Self Service

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How… Co-Creation

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How… Automated Service

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Revenue…

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The pricing mechanisms available: Understand

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Cost Plus The pricing mechanisms available: Understand

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Skimming The pricing mechanisms available: Understand

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Loss Leader The pricing mechanisms available: Understand

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Penetration The pricing mechanisms available: Understand

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Premium The pricing mechanisms available: Understand

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Freemium The pricing mechanisms available: Understand

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Resources = Lab equipment Office Space PC Graphics Tablet Redbull Experimental Subjects Comic Books Monitors

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Activity The key things you need to do to make your idea work

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One last thing!

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One last thing! Find Good Partners…

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Find Good Partners… You Can’t do it Alone One last thing!

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All that’s left is to count the cost

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3 No. Question Key Assumptions

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So, You’ve Got A Model Let’s Break It!

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Compare: Assumptions in the Model Data from Research

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Do they fit together?

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4 No. Explore Other Options

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No content

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Iterate the model to work out kinks

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5 No. MVP… Get Building!

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Minimum Keep it small

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Minimum Keep it small Viable Keep it cheap

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Minimum Keep it small Viable Keep it cheap Product Keep it moving!

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Push it to the limit… The point of an MVP is to find the Breaking Point

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6 No. Evaluate What worked?

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Be Forensic A/B Test

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Use this time to trial different directions

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Examine Everything Your MVP Is the opportunity To Gather Data!

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7 No. Pivot? Or Persevere?

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So you’ve made it, do you A: Pivot B: Persevere

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Market Reaction to MVP + - Pivot Persevere

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Just one word of warning:

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Just one word of warning: This isn’t Exact

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Just one word of warning: This isn’t Exact It’s a balancing game at best!

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8 No. Execute Now it’s real!

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No content

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That’s the 1st Stage Now comes the tricky bit Building a business

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This is all about

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This is all about Users…

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This is all about Users… They mean traction

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This is all about Users… They mean traction Leading to capital

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9 No. Scale Time to Transition

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Aim: Growth!

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Capital is your new King

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Choices: Fast Slow More Control Less Control Internal Re-investment Angel/VC Investment Payback Improvement Buy-out

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10 No. Repeat… It’s that simple!

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OK it’s Not That Easy!

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The world will Change... You need to Adapt To Survive

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Thanks I hope that was useful!

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Massive thanks to everyone who made all the images I’ve used free to share. Material was my own with ideas taken from Eric Reis and Alexander Osterwalder. The design them owes thanks to Amy Palamountain @ammeep Whose 10 Traumas in 10 minutes presentation was inspirational!