get going - boston
DESCRIPTION
How to launch your web business idea without programming. The talk focuses on doing customer development in order to find that first paying customer. More details can be found in the LaunchBit Startup Guide at http://guide.launchbit.comTRANSCRIPT
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Get Going!
Build & test your idea without programming Elizabeth Yin
Jennifer Chin co-founders of LaunchBit
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We want to thank our event
sponsor – MIT E-Center
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In high school, we decided to
become internet entrepreneurs
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Shiny Orb is a social shopping site
for wedding apparel
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DressMob is a social shopping
site for all dresses
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Building a website has become
very accessible
1990s 2010
Difficulty HARD Easier
Speed Months/Years Days/Weeks/Months
Options Hire, Try to learn Hire, Try to learn, outsource,
3rd party tools
Resources Books, friends Books, friends, online,
forums, Craigslist
Sites are being built more quickly and easily
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The biggest obstacle for you is no
longer technical
Do you have a product that
people want??
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We believe in the “Lean Startup”
philosophy and execution
Eric Reis (nytimes) Steve Blank (nytimes)
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The Lean Startup Model is just
like playing poker
Go all in without
seeing your cards?
Fold if things are
not looking good?
Image Credit: lasvegasvegas.com
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The first step is to achieve
product/market fit
Maximize Profit
Product/Market Fit Scale Up
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You can build and test your web
idea without programming
Research
Building
Marketing
Measuring
Q & A
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Doing the
Research
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Find potential customers outside
your own social circle
Filter prospects with a simple survey.
Offer $25 for a 30 minute phone
conversation if selected
Join mailing lists and forums
Email people. Oftentimes, the right
people will help for free
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Craigslist can be a great place to
get feedback Cindy Alvarez
Use the "gigs" section
Providing your first name and a voicemail number will grant you legitimacy
Clearly state the compensation amount upon meeting qualifications and completion of the call
Expect a 10-15% flake rate
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Ask about behavior and bring a
simple set of “paper” prototypes
Do people “get” your idea?
Image credit: Simon Collison (flickr)
Image Credit: Mathieu Brault
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Hanging around coffee shops
helps Pulse refine their new ideas
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Building
a Landing
Page and
MVP
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There are plenty of free (or almost
free) WYSIWYG platforms
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Make sure your landing page
messaging is clear
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Dropbox got 200,000 signups
with just a video
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Your Minimum Viable Product
should have just 1 or 2 functions
Can you explain your product in 1 sentence?
Image Credit: Hammacher Schlemmer
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We challenge you to think
creatively when building your MVP
Easy MVPs Hard MVPs
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Aardvark went to see the
wonderful Wizard of Oz
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Food on the Table started with
real, live “concierge” service
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The Wed Connect is our own
experience at quick idea testing
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Online tools made it possible to
work behind the curtain
Image Credit: Wizard of Oz
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Early Stage
Marketing
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Early stage marketing is a
complement to Measurement
My Website
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Ads are a perfect way to get
traffic immediately
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Q&A forums and other industry
specific sites are like “annuities”
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Community marketing channels
can offer quality verbal feedback
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Measuring
Results
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Find out what your users are doing
on your website
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There are many affordable tools for
quantitative & qualitative analysis
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At least 40% of your users should
be very disappointed if you’re gone
Sean Elllis (startup-marketing.com)
Not disappointed or
Somewhat disappointed
Very disappointed
Successful Product / Market Fit
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In 5 days, we had numbers to
evaluate The Wed Connect
Quick math: Charge wedding vendors $2 / lead * 21 leads = $42
Costs: $0.44 * 68 people = $29.92
Potential profit: $0.58 / person
Bounce Rates
87% of 68 people
56% of 16 people
21 Signups
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Qualitative feedback taught us
about the customer
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We determined the viability of The
Wed Connect in just 1 week
Great initial numbers but a frustrating business
0 1 2 7 8
1 day Customer Research
1 day Build MVP
5 days Testing and Marketing
1 day Analysis
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Ante up, make your bets, then
decide -- will you go all in?
Image Credit: Logan Ingalls
Bet MVP
Early Marketing
Blinds Research
Landing Page
All In Hire People
Seek PR
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LaunchBit helps new, aspiring
entrepreneurs launch their ideas
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Build and test your idea without
programming – Get going!
More questions? [email protected]
Feedback index cards
LaunchBit mailing list signup sheet
Blog: blog.launchbit.com
@launchbit
www.launchbit.com