a good hard kick in the ass
DESCRIPTION
Basic training for entrepreneursTRANSCRIPT
A Good Hard Kick In The Ass
What is it all about?
Its Basic Training forENTREPRENEURS
There’s only 1 key to success in a startup.
Hardwork &
Adherence to
Fundamentals
What are the milestones in getting your product
to the market?
Step 1Validate that the market
actually exists
Learn everything about the customer.
Explore the pain point of the customer.
Develop something people will pay for...
Identify Competitors...
Determine the size of the target market.
Emerge a beta community
of enthusiastic users.
Step 2Design a profitablebusiness model..
Pure & Simple:A business exists to make money.
You should have a logical & straightforward way to do business..
If you don’t then don’t even bother starting a new company.
Work for someone else who does.
Step 3Assemble & Hire a great
team.
What will a great team have?
Deep reserves of Execution Intelligence..
Hands on domain knowledge..
Experience in dealing with competition..
Risk Management Expertise
Leadership Persona
Step 4Lineup some Investors
What will investors want to know?
1. Level of Execution Intelligence
What will investors want to know?
2. Validation of market for product or service..
What will investors want to know?
3. How much time to market is going to be?
What will investors want to know?
4. How much money required to reach the key value milestones.
Step 5Make & Sell the Product
Go the market fast with whatever you have
right now.
Keep enhancing the product with successive improved versions.
Take feedbackImprove product features..
Acquire customers by:Direct Marketing, Tele Marketing &
Trade Shows
Own the sales process..
Actual sales are the key to growing the money and
expanding it.
What wouldthe Startup be without sales?
The startup would only be a R&D company.
It would generate ideas.
It would never move forward.
What after success?
1. Make sure every new hire adds value.
2. Reward people who add most value.
3. Continue to do market validation
4. Align everyone in the company around a common vision.
5. Stick to what your organization is best at.
6. Keep next-gen R&D alive...
7. Maintain direct contact with the customer.
8. Iterate & improve products over time.
9. Create value in every step.
Thank You..
