shiny orb @ the entrepreneurs round table 6/18/2010

11
Elizabeth Yin Jennifer Hsieh Entrepreneurs Roundtable June 17, 2010

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Jennifer Hsieh and Elizabeth Yin from Shiny Orb (shinyorb.com) demo Shiny Orb and discuss 3 key learnings with regard to finding product-market fit. They talk about the lean startup methodology (conceived by Steve Blank and Eric Ries) and tips and tools they've used to find product-market fit.

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Page 1: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Elizabeth YinJennifer HsiehEntrepreneurs Roundtable

June 17, 2010

Page 2: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

In middle school, we decided we would become internet entrepreneurs

Page 3: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

Shiny Orb is a social, discovery shopping site for bridesmaid dresses

Uglydress.comJust Kidding!

Page 4: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

Our site features a “style search” and social “dressing room”

Page 5: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

We believe in the “Lean Startup” philosophy and execution

Eric Reis (nytimes) Steve Blank (nytimes)

Page 6: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

The first step for a Lean Startup is to achieve product/market fit

Maximize Profit

Product/Market Fit Scale Up

Page 7: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

Statistical significance is overrated

• 5 people are enough!• Use mockups• Get in‐person feedback

– Craigslist / Project Wedding / Stanford‐network

– Are they *to‐die‐for* interested?

Page 8: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

Build “features” that do nothing

• Track clicks– Google Analytics

• Sort by Designers?• Deals and Coupons tab?

• Track sign‐ups– Google Forms

• Virtual dressing room?http://www.hemmy.net/2006/04/27/useless‐japanese‐inventions/

Page 9: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

You have no idea what is going on• Track what users want

– Kiss Insights Widget– Google Search Widget

• “teal”• “mon cheri”• “6545”• “three‐quarter sleeve bolero jacket”

• “wedding dresses”• “fish”

http://icanhascheezburger.com/2008/10/12/funny‐pictures‐gonna‐confuse‐me‐later‐in‐life/

Page 10: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

We are currently moving towards the second step – Maximizing profits

Maximize Profit

Product/Market Fit Scale UpChristian Gidlof

Page 11: Shiny Orb @ the Entrepreneurs Round Table 6/18/2010

Entrepreneurs Roundtable 6/17/10www.shinyorb.com

Feel free to contact us to discuss any ideas or questions

Shiny Orbhttp://www.shinyorb.com

Elizabeth [email protected]

Jennifer [email protected]