startup in a box
DESCRIPTION
Feeling the itch to start your business? Have a great new idea for a startup? Read this InstaBook to figure out how to go from idea to startup using Lean startup methodology.TRANSCRIPT
So you got that great idea about a hot new startup?
How are you going to test the idea? How do you find out how
much people will pay for it, if anything at all?
Do you have the money and time to actually build the product or
service and test it? Most likely, no!
Whether it is a mobile app, web app or something else
You need to create a prototype, get customer feedback, rinse &
repeat till you get to something that works
Use Powerpoint animations, Wordpress or Specialized tools to
create a prototype
Set up a Landing page with sign up form / paypal payment using
Wordpress.
Drive some traffic to this page.
Use Free sites like Reddit / Slideshare or Paid at Google /
facebook to drive targeted, high quality traffic
Catch people in coffee shops and malls. Show them the
prototype. Let them play. Get feedback.
Build your funnel. Estimate percentage conversion at each stage.
Base it on landing page data, not face to face meetings unless
customer writes a check.
Open Excel. Enter estimated number of prospects and conversion
rates. Multiply number of customers by price. Subtract your costs
to get profits.
Not looking good? Its better to fail now and start afresh.
Keep looking for the next idea and keep your current job!
Looking good so far? Time to get serious.
Refine the prototype. Spend some $$$. Drive more traffic and ask
them to pre-book by paying at least $1
Create three scenarios – Good, Bad, and Ugly.
Is ugly looking good? Too good to miss!
Good looking OK? Skip!
If you made it this far, you are on to something. Keep going. Dig
more. Look left & right. Did you miss anything?
Talk to potential co-founders
Get Ready to Launch!
Thank You for Your Time. Please Check Out Our Other Books
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