startups 101: how to go from idea to liftoff by gw entrepreneurs

Startups 101:

From idea to liftoff

Who am i

@treverfaden• Partner @

dogfishlabs

• Co-prez @ Gw Entrepreneurs

• Addict of new business innovations

What is a startup?

What is a startup?

“a Human institution* dedicated to creating something new under conditions of extreme

uncertainty”

-Eric Ries Author, The Lean startup

Why startup?

Why startup?

• Must love risk!

• Maximize your economic value

• be your own boss

• Control your own destiny

How the hell do I start up?!

BuildThemvp

Minimum viable product

“that version of a new product

which allows a team to

collect the maximum amount

of validated learning about

customers with the least

amount of effort.”

-Eric Ries Author, The Lean startup

Minimum viable product

1) Job discovery

2) Customer discovery

3) Market testing

4) Lead generation

Jobs to be done (JTBD)

What is the job your customer is hiring your service for?

Examples:

37 signalsmilkshakes Harvard business

school

The rewired group

Job discovery

Action item

Ask why?!

Customer discovery

Most people won’t want

your product!

Customer discovery

Who has the job you’re solving?

Customer discovery

Stop assuming&

Start EXPERIMENTING!

Customer discovery

1) Market research

2) Make landing pages

3) Run ads

4) Iterate

Market research

• Ask your target demographic a question

• Screen respondents

• Get answer to question

• Get insights into demographic breakdown $75 Coupon

Google consumer surveys

Fake it

MVP step #2

Landing pages

1) Fast (no coding skill needed)

2) Free

3) A/b test

4) Single conversion goal

LANDING PAGES

Run ads

Run ads

1) Facebook2) Google adwords3) Linkedin ads4) Twitter ads5) Stumbleupon6) Pinterest

Ad networks

Run ads

b2c b2b

1) Direct ads

2)Sponsored content

3)Content marketing

4)Retargeted ads

Ad types

Run ads

1) Highly targeted2) Very cheap3) Multiple

display types4) social

$50 freelike Sponsored

post ads Promoted activities

Run ads

1) Keyword based2) Variable pricing3) Not Social

$75 free

analyze

Analyze

1) Google analytics

2) woopra

Useful toolstracking

1) Olarkchatting

1) Rejoiner

2) sessioncam

creeping

1) Perfect audience

stalking

tracking

Google analytics & woopra

1) How many people visited your website

2) How people got to your website

3) What they’re doing on your website

4) How long they’re on your website

• New vs. Repeat visitors

• geography of visitors

• Big data analytics

chatting

olark

1) See who is on your website in real time

2) Chat with your visitors

3) Visitors can chat with you

4 months free “silver” plan

creeping

rejoiner

1) Capture customer information even if they don’t submit the form

2) Put “abandoned” customers in email pipeline trying to get them back to purchase

creeping

sessioncam1) Records your customers

on your website

2) Watch how customers engage with your page

a. Where they move their mouse

b. What they click

c. How they scroll

3) Generate heatmaps for your page

stalking

Perfect audience

1) Auto-Targets facebook ads to people who have visited your site

2) Follows visitors around the web to display ads (omnipresence)

In summary

#1

Know the job you’re solving

#2

Talk to your customers!

#3Fake it With a

Landing page

#4Run ads

&Generate

leads

#5Come back

To theGw

entrepreneurs meetings

Questions?

202-455-0011@treverfadenTrever@dogfishlabs.com

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