Download - Lean Startup Experiences
Lean Startup ExperiencesFrom Bootstrapping to Growth Hacking
Remo Uherek• 30 years• BA in Business (Uni Basel)• Entrepreneur for 10+ years• Founded Small-n-Tall GmbH in 2003
- Idea incubator• Founded Trigami AG in 2007, sold in 2011
- Social Media Marketing network• Meditation practitioner
What is a Startup?
„A human institution designed to create a new product or service under conditions of extreme
uncertainty“- Eric Ries, author of The Lean Startup
What is a Startup?
„...new product or service...“
Innovation! Not a restaurant.(nothing wrong with a restaurant...)
What is a Startup?
„... extreme uncertainty...“
Most startups fail. Yes it‘s painful. But that‘s the reality. Embrace it!
We need a new framework how we build and run Startups
New Startup Framework
• Not „Startups“ or „Products“
New Startup Framework
• Not „Startups“ or „Products“
„Experiments“ „See what sticks“
New Startup Framework
• Spend 1 year building your product
New Startup Framework
• Spend 1 year building your product
Talk to customers first Only build stuff you have
validated first
New Startup Framework
• Incorporate a company, find an accountant, ...
New Startup Framework
• Incorporate a company, find an accountant, ...
Don‘t „play“ business Find a real problem to solve Do admin stuff once you have a
real business (most often you don‘t...)
New Startup Framework
• Raise money from investors
New Startup Framework
• Raise money from investors
Bootstrap as long as you can Use pre-orders Use upfront-payments Use PayPal to ask for money (Use Crowdfunding) don‘t expect too much
ZenFriend Case Study
#1: Idea
• Meditation very important part of my life• Used Runkeeper successfully for my running
IDEA: I want a Runkeeper for my meditation!
#2: Market Opportunity
• There are several successful meditation apps with up to 1m of users
• I‘ve tested them all, nothing satisfied me
Market opportunity validated!
#3: Use Growth Hacking
• Use Growth Hacking and Guerilla Marketing to attract Early Adopters
• Build a quick „ghetto“ landingpage, e.g. using a $10 template (e.g. on wrapbootstrap.com)
• Use Mailchimp.com and Sumome.com to collect email addresses
#3: Use Growth Hacking
• Use Growth Hacking and Guerilla Marketing to attract Early Adopters
Within 2 months 900 people on waiting list
#3: Use Growth Hacking
• Use Growth Hacking and Guerilla Marketing to attract Early Adopters
Within 2 months 900 people on waiting list
#4: Outsource development
• Found great outsourcing partners from Russia by using Elance, Odesk, Freelancer.com
#4: Outsource development
• Found great outsourcing partners from Russia by using Elance, Odesk, Freelancer.com
Total costs = less than $10k from idea to finished product
#5: Use Growth Hacking
• Used our waiting list• My own list of friends• Reddit
#5: Use Growth Hacking
#5: Use Growth Hacking
• Used our waiting list• My own list of friends• Reddit
Almost 3000 downloads in first 30 days!
ZenFriend Case Study
• Total project costs so far: less than $15k• Idea in Jan 2014, launched in May 2014• Didn‘t incorporate new company: used old
Small-n-Tall GmbH umbrella(if you don‘t have one, just create an Association (“Verein“) for the
time being, it just takes 1 hour and doesn‘t cost anything)
• Used Growth Hacking and Guerilla Marketing• Tracking everything
ZenFriend Case Study
ZenFriend Case Study
• Note: Even with all these steps, success is never guaranteed!!
ZenFriend Case Study
• Note: Even with all these steps, success is never guaranteed!! NEVER!
ZenFriend Case Study
• Note: Even with all these steps, success is never guaranteed!! NEVER! NEVER!
ZenFriend Case Study
• Note: Even with all these steps, success is never guaranteed!! NEVER! NEVER! EVER!
ZenFriend Case Study
• Note: Even with all these steps, success is never guaranteed!! NEVER! NEVER! EVER!
• All you can do is create the best conditions possible. Everything else is out of your control.
• If ZenFriend fails? Yes that would hurt. Still: We‘ll create a new experiment.
• That‘s what entrepreneurs do. They create experiments. Until something sticks.
Personal Learnings
• Nothing more frustrating than a „living-dead“ product courage to „kill“ experiments
• Don‘t take funding unless you have reached product/market fit. Else you lose important flexibility as you „lock yourself in“.
• Keep experimenting, until you stumble upon something great, often happens by accident
• Keep costs low, bootstrap the heck out of it
How to learn more in 1 day than running the business for 6 months
https://www.youtube.com/watch?v=G8Rk0c3axtI
YouTube Eric Ries
https://www.youtube.com/watch?v=zGXAVw3vF9A
Thank you!Blog: remo.fm
Twitter: @remouherekSlides: slideshare.net/remouherek
