startups 101: how to go from idea to liftoff by gw entrepreneurs
DESCRIPTION
Trever Faden, Co-President of the GW Entrepreneurs, kicked off the second semester meeting series with a presentation about the very basics of startups & minimum viable products (MVPs). Referencing key free/low-cost tools, Trever presented a clear set of steps that a young entrepreneur MUST take before the first product is ever built. Using these tools, entrepreneurs can fully understand their target market, the needs of their customers, and build a sizable lead list filled with customers ready and able to purchase your product or service when it is built & launched. Use this presentation to lift-off your startup idea and GET IT IN FRONT OF YOUR CUSTOMERS. Learn more at: www.gwentrepreneurs.com or www.treverfaden.comTRANSCRIPT
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
What do you want to learn next?
Text: (802) 744-0009 to vote
A) PRODUCTIVITY TRICKS + TOOLS
B) THE SECRETS OF PAID ONLINE ADVERTISING
C) IDEA CREATION - BRAINSTORMING THE NEXT BIG THING
D) PERSONAL ONLINE BRANDING