Fiona Anson - Co-Founder - Workible

HOW TO COMMERCIALISE GREAT IDEAS

IT'S ABOUT MAKING IDEAS HAPPEN

IDEAS IT’S NOT ABOUT

IT’S GOING TO BE HARD!

GREAT IDEA? SO, WHAT’S YOUR

• What’s the market problem you’re solving

• What are their REAL pain points?• How do you know?• Is there a niche you can fill?

HOMEWORK DOING YOUR

• Is there really a market?• Who else is currently solving this problem?• Why are you different - and better?• Why will customers change?

INNOVATION

MARKET RESEARCH COMPREHENSIVE

• More than the people who know and love you • Validate with potential customers• What’s the size of the market? Local? Global?• Why are you different - and better?• Why will customers change?

PRODUCT/MARKET FIT

YOUR SUCCESS WILL DEPEND ON

PRODUCT

THE TEAM? WHAT ABOUT

• Business experience• Industry experience• Management mix of skills - strategy • Vision• Ability to adapt

PAY MAKING IT

• Your revenue model - Business or Consumer, Freemium, pay-per-use, Subscription, Enterprise

• Number of customers, transaction rate, sale value, expenses, profit

• Users

PROOF CONCEPT IDEA

MARKET VALIDATION COMMERCIALISATION

MINIMUM VIABLE PRODUCT

OF YOUR IDEA THE FEASIBILITY

• Not every good idea will lead to commercial success • Need a balance between innovation skills and your

ability to assess the feasibility of your idea• Need to focus on the end goal• Decide if you stop before it costs you significantly

FAIL FAST THE LEAN START-UP

OR BREAKING IT MAKING IT

• Funding is often the most limiting factor• Have an open mind to the alternatives• Give yourself a huge lead time• Sales are everything

IDEA FUNDING YOUR

• Bootstrapping / FFF Money• Angel investors• Grant money• ASSOB• Venture Funds/VCs/Series A, B and beyond

workible.com.au

Story

The

QUESTIONS?