society3 business accelerator

Society3 AcceleratorWelcome

#Society3Day 1

2© Copyright Society3 Refugee Accelerator 2016

#Society3Presenter

Axel SchultzeFounder, CEOSociety3 GroupDR. Joerg JaecksLaywer, Raue LLP

Remi Elias MekkiCEO & Co-Founder MigrantHireMarita RoebkesCoFounder Society3 Group

Bettina VossbergFounder HighTech Startbahn


#Society3Hard to not succeedWhen you exactly know what you really love, the VISION of it’s outcome will mature rather quicklyThen find people who may love what you do – find your audience You will find yourself becoming of great value for at least parts of our society

How can you fail?


#Society3Accelerator Objective Learn all about

Entrepreneurship & Team building and societyThe legal framework for your own business Developing your company purpose Developing your own company cultureAbility to define your target audienceBusiness model developmentAbility to achieve product market fitCreating a go-to-market strategyGetting your customer baseFinancing your business growth


#Society3Silicon Valley Advantage True Innovation

Teams learned to disrupt - not only improve

Massive Growth Leveraging online networks like no one elseGetting attention online versus old PR

Learning & Sharing CapabilitiesListen, learn, iterate and adjustLeaders in ‘Time to market’ Products are hardened in markets not labs


#Society3


#Society3

Have co-founders and look for people who augment your weakness - not those who are like youListen to your gut - you will need to fully trust themBuild a dream team, that builds a dream team beneth them and with it an amazing company culture

Create the best possible team


#Society3Most important leadership qualityRelentless Execution

This first requires “Product Market Fit” - execution You need to have a great online presence - execution You & team connect with people daily - execution You will want to grow every day - execution You need a team that is able to deliver - execution


#Society3


#Society3

Legal R

equirem

ents


#Society3


#Society3Successful company'svisionsNasa / JFK: Bringing a man to the moon and safely backFord: Democratize the automobileMicrosoft: A computer on every desk, in every homeGoogle: Organizing the world's informationComputer2000: Changing distribution to indirect onlyUber: Click a button, get a rideZappos: The online shop with the best serviceSociety3: Financing marketplace for the world's innovation

Example


#Society3Who will you make happy?What's your vision?You are in business to...The problem you are solving is...The uniqueness about your business is...Over time you will become...With that in mind create a company culture


#Society3

company purpose?


#Society3


#Society3Company Culture

Zappos: A trainee get's $2000 when they quitFacebook: Outdoor meeting areas, lots of free foodInfinigate: New team candidates get onto the gray couchcelebrating success and growth

Example


#Society3What kind of company do you want to be Highly professional always accurate Very casual and easy goingStrong leadership with clear job descriptionsFlat hierarchy empowering people with unique skills

Your company culture will become what clients will call customer experience


#Society3


#Society3

Define

your

target

audie

nce


#Society3BlueRoads

Companies bigger than 200 employeesHaving a product that ideally sells through resellerAverage product price less than $10,000No particular direct sales affinityMore than 100 reseller established

Example


#Society3

Define the smallest possible target marketPrecisely what types of people are you looking forThink of ordinary users, media, technologists… Target audience = People you proactively go after You still will welcome everybody else Categories can’t speak – Tom Black canCreate a list of 500+ people you want to have


#Society3

500 People with access to 2,000 others = 1 MillionIt’s always about tools & techniquesSearch Twitter for hashtags #bikes, #gourmet, #cars...Look for groups on LinkedIn Use Facebook Search “My friends who like car racing” Look for influencer (large networks) Look who they follow (but be selective)Look for talkative people (blogger, active on Twitter)


#Society3


#Society3

Craftin

g your

busin

ess mo

del


#Society3

UBER

It's just a mobile appHas a complete business process No cars, no drivers

Example


#Society3Computer2000

Competing with 5,000 x bigger distributorsNo direct business - dealer onlyProduct manager for each line

Example


#Society3

Computer companies you cannot buy fromBook stores you can read books for freeTaxi company with no taxies, no driversVacation rentals with no real estateSoftware companies who don't sell softwareCar manufacturers but you can't by their carsTelcos who don't have any equipmentRestaurants that have no cook and no food

Disruption


#Society3How do you do your businessHow do you price your productsHow do you charge your customersHow do you deliver your productsHow do you compose your offeringsWhat vendors are part of the offeringWhat providers do you involveWhat is the service offering


#Society3


#Society3Success Secret


#Society3Winning against any size companyCustomers would switch to more agile, friendly, transparent businesses anytime.

Building trust and a good reputation fast with a clear business idea, a great team, a friendly and open culture and a disruptive business model - forces companies of any size to their knees and respond.

You NEED companies copying you and follow you to become a market leader.


#Society3

Giving backFollow us Twitter: Facebook, LinkedIn@Society3Grp fb.com/society3 Linkedin.com/company/society3@AxelS@MaritaRWrite a reviewLinkedIn group: https://www.linkedin.com/groups/60559Facebook group: https://www.facebook.com/groups/gotostartups/Join the online community:http://society3.com/fundersmart

Follow and share

Society3 AcceleratorHow are you?

#Society3Day 2


#Society3

Produ

ct Ma

rket Fi

t


#Society3BlueRoadsIs the lead distribution process with BlueRoads saving a technology vendor time and money?Can an untrained reseller in a small town use the product without trainingCan lead data be uploaded from any spreadsheet like right at an exhibitionDo we support our vision with the product we offer

Example


#Society3The market always wins

Let the market be part of the developmentGet the product out at prototype levelLet alpha users on it early (3-6 month)Get to Beta 2 to 4 month laterMake your beta users to heroesHave a structured way to get feedbackMaximum transparency (known issues)


#Society3Get out early

Set the stage Be amazingly transparent and honest Be amazingly engaged with your early users Alpha | Closed Beta 1,2,3 | Public Beta | V 1.01


#Society3Why should I use your product?Make it very clear what your product doesTell the real storyDon’t be the XXX for NNN – be YOUWhat’s the expected result for the userStart with the registration button: Start “influencing”, start “sharing your mood”, start “inviting artists”, start…Nomen est omen – It’s all in the name


#Society3Be super sensitive to user experience - no matter what business you are in

Set very clear expectations (Zero BS)Help change behavior (gamification)Provide 60/90 sec tutorialsTell the compelling difference


#Society3Understanding & managing a large and diverse user base

Track all actions such as Register, login, start a feature, perform an action, review a report, load any page…

Decide what behavior you want to driveGive points the moment you log an actionList the points for each userShow it on the dashboard and during actions

Make it publicly a big deal and recognize leaders, super users, supporter…


#Society3Easy products – less support

Invest time in an easy to use product instead of extensive support measuresBuild a users group early on !!!Let your super users help with support


#Society3User EngagementBe overly transparent with your initial userA buggy product can create a positive and added level of ownershipMake sure you have a way to gather feedback in a methodical way (i.e. UserVoice.com)Listen, react, iterate Know how users feel if you shut down


#Society3Five Product Market Fit Metrics65%+ of the users you are addressing are using the product at least weekly if not daily for at least three monthMore than 40% of users would be disappointed if you take it awayYou receive written feedback and suggestions for improvement from 5%+ of the early adopters.You see 10% of your current users begin recommending it to othersYou have positive confirmation from 10 rather conservative late stage users that they may want it if it is ready


#Society3

No tryingNo gamblingIs it crystal clear what you have to offer?Is it clear what is not working yet?Do you have simple and public pricing?Is it super easy to buy and pay?Is your after sales support defined?Can user provide feedback?


#Society3

on YOUR product


#Society3


#Society3

Go To

Marke

t Stra

tegy


#Society3Infinigate

The Internet eliminates the middleman - notGetting 25+ product lines from top vendorsCreating non technical product descriptionsTouring from reseller to resellerProviding end user marketing to create a pull through to resellers with the 'Inliner'Build a pan Europen presence fast

Example


#Society3

You can’t talk to a million peopleBut you can ask 1000 to talk to 1000


#Society3Your Target AudienceAre People


#Society3

San Francisco, CA + 1 (650) 384-0057 Cannes, France + 49 (30) 2023-8748

Society3 Group – http://Society3.com - http://XeeMe.com/Society3© Copyright Society3 - 2012

Asking people ‘help spread the word’


#Society3Go To Market Develop a creative plan how you go to your market

How do you engage with your target audience?How do you motivate them to help you and how?How to maximize public conversations

Create a market pull (not push)Stimulate excited users to share their experienceTurn the user voice into referencesEnsure your online presence is inviting and ready for conversations and engagement

Build a robust backend operationMake it easy to BUY and PAY

Bring the public dialog to your target audience


#Society3Go To Market Strategy List2016 GOAL:Key marketing goal you want to achieve by end of 2016THE MARKETWhat’s your market like, your role, your competitionGO TO MARKETWe go to market with a three prong approachA - What are you going to doB - What are you going to doC - What are you going to doSUPPORTERCurrent customers…..Associations…Leverage those who can benefit from our successACTIONSCreating… Building …. Making…Social media engagementA consistent and ongoing communication stream…. Resources by activityDescribe the details what you will do here and now. REPORTING Describe what KPIs you are going to focus on and how you can measure them


#Society3


#Society3

Buildu

ng a c

ustom

er bas

e


#Society3Society3

Organizing attractive eventsProvide valuable insights for startupsAttracting investors with an all new business model with an unusual exit strategyBuilding a European presence by being there

Example


#Society3Having all ducks in a row?Your vision is as clear as a videoLeadership team is assembledYour company purpose and brand is definedYou know your very specific target audienceYour product is readyYou meet any legal requirementsCustomers can register / visit youCustomers and users can provide feedbackYou have your blog and online presenceYou are going to set the stage as thought leader


#Society3

Talk to as many people as possible

Read your alerts on LinkedIn and Twitter dailyRead industry specific news / alerts Search for new target audience users dailyRespond to relevat posts and commentsSpeak to your target audience daily


#Society3

Your product is as good as your engineering skillsYour traction is as good as your networking skillsBuild a large network of relevant people Start with your first customers - talk to their friends Touch base with every single one of themEnsure all conversations are online / public Be helpful, support THEM to be successfulRespond on all channels


#Society3

Moving off of email eMail: “Dear Tom, just want to tell you, your product is the best I’ve seen in a long time… Twitter : wow, @Tom your product is the best I’ve seen in a long time http://bit.ly/1afDg$ #lovebikes Moving off of email by responding to messages online. Twitter: Saw your email, here is the link to the XYZ event #event #bike #ILNY Nobody else can learn from email content Nobody else can chime into an email conversation


#Society3Review your online presenceMost important: Your Blog

The home of all your information, your brandYouTube Channel

Best education channel you can getSlideShare

Top content sharing for strategic and specific informationTwitter presence

The information heart beatLinkedIn page

Your business journalLinkedIn groups

Close group engagement – lead generationFacebook page

Your promotion and engagement cornerQuora

Answer relevant questions


#Society3Networking is a numbers game

If you have 100 followers on Twitter, who have 100 followers on average, your theoretic reach is 10,000If you have 10k followers with 10k follower on average your theoretic reach is 100 Million


#Society3


#Society3

Growth

Financ

ing


#Society3Infinigate

We wanted to win business partners and vendors as customers We decided to create an application where they can register to by shares in our increase in capital onlineWe raised $350,000 in pour seed round, $2 Million in A and $5 Million in B, and finally $10 Million in our C round. Enough to grow to $300 Million in revenue today

Example


#Society3Financial Planning & Funding

Plan what you need – not what you can getPlan how much you need NOWUnderstand how much you may need nextThink about the rounds to IPOThink about how much you will need to give Think about control of the company


#Society3

Investment Instruments & Options

Friends & FamilyRevenue – Perks based crowd funding ***Business Angels **Equity crowd funding / online platforms **Venture Capital *Industry Investors * *** always the best vehicle ** best for $250k - $1MM seed rounds * best for $5MM+ A rounds and beyond


#Society3


#Society3Success Secret


#Society3

The earlier you involve potential customers, the better your offering becomes! AND you get references right from the beginning.

There is ZERO chance to find others sell your product or service successfully until you had great successes created yourself.

Close your first 100 deals, create revenue for 180 days before you work with any kind of partner.

Winning business fast


#Society3Accelerator Objective We went through

Entrepreneurship, Team building and societyThe legal framework for your own business Developing your company purpose Developing your own company cultureAbility to define your target audienceBusiness model developmentAbility to achieve product market fitCreating a go-to-market strategyGetting your customer baseFinancing your business growth


#Society3Next stepsFive Next StepsSit down and work through the following key topics for yourselfCompany purpose, Target market, Business model, Product concept, Go-to-market strategy, financial planFind a co-founder buying into your visionLook for a mentor !!!Interview 23 potential customers, analyze the feedback Achieve as much as humanly possible without an investorRaise capital from knowledgable investors to grow

Raw Concept Co-Founders Mentor 23 Customers $$$

StartupYou Have a co-founderYou have a great business ideaValidation from 7 customersYou defined the following:- Company purpose- Target market- Business model- Product concept- Go-to-market strategy- A financial plan

My MentorshipConcept reviewCompany vision solidificationTeam compositionBoard compositionStrategy and plan reviewsProduct strategy coachingCapitalization strategyGo to market strategyFundraising processInvestor pitch coachingSales strategy developmentPartnership strategiesBusiness model solidification


#Society3

Giving backFollow us Twitter: Facebook, LinkedIn@Society3Grp fb.com/society3 Linkedin.com/company/society3@AxelS@MaritaRWrite a reviewLinkedIn group: https://www.linkedin.com/groups/60559Facebook group: https://www.facebook.com/groups/gotostartups/Join the online community:http://society3.com/fundersmart

Share the experience :)


#Society3

© 2016, Society3. all rights reserved. Feel free to share the presentation in unchanged form. Society3 Group AG Luzern, Switzerland (+41) 41 511-2885 | San Francisco, CA | (415) 656-8700

+41 (41) 511-2885society3.com/MaritaRsociety3.com/AxelSSociety3.com

Online presences:http://society3.com/social

Thank You...your financing marketplace for the world’s innovations