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March 2015
STRIC
TLY C
ON
FEDEN
TIAL
FROM IDEAs TO
WHERE IS THE REAL VALUE?
EXECUTION:
Mattia Perroni,
Country Manager
WHAT HAPPENED BEFORE HOUZZ ITALY
• Undergrade at Bocconi University of Milan and Master of Business Administration at Koç University
(Turkey), Fudan University (Shanghai), Recanati University of Tel Aviv
• 2 years of Strategic Consulting at L.E.K. Consulting in London and Munich offices
• Founded two companies, one operating within the LED and Digital signage e-commerce market in
Italy, the other active in the digital advertisment industry
• Joined Rocket Internet in 2011 in Manila, Philippines for 1 year, launching «Lazada», now the
biggest online retailer in South East Asia
• Moved to Egypt in 2012 as CEO of Jumia Egypt
• Moved to Berlin in Jan 2015 as Country Manager of Houzz Italy
• Love football
• I personally think that energy, passion and dedication are the keys to success
5% OF COMPANIES INCUBATED ARE WORTH MORE THAN 40m$
AFTER 10 YEARS, EQUAL TO 0,4% OF THE APPLICANTS*
100%
7%
0.4%
Source: *http://fundersandfounders.com/
STARTING UP A COMPANY IS THE RISKIEST JOB IN THE
WORLD
HOW CAN WE BETTER EXECUTE?
EGYPTIANS ARE AMONG THE BEST “IDEA-ERS” IN THE
WORLD, HOWEVER THEIR GDP FROM YOUNG COMPANIES IS
ONE OF THE LOWEST WORLDWIDE (1/2)
EGYPTIANS ARE AMONG THE BEST “IDEA-ERS” IN THE
WORLD, HOWEVER THEIR GDP FROM YOUNG COMPANIES IS
ONE OF THE LOWEST WORLDWIDE (2/2)
IT IS NOT JUST ABOUT THE IDEA, BUT ABOUT SEVERAL OTHER
FACTORS, BOTH INTERNAL AND EXTERNAL TO THE
ORGANIZATION, BUT PLANNNABLE..
Idea10%
Market30%
Execution30%
People30%
IN THE VERY FIRST MONTHS...
• HOW LONG DO YOU SPEND DECIDING WHERE TO SETUP YOUR COMPANY?
• HOW LONG DO YOU SPEND UNDERSTANDING WHO ARE THE PEOPLE YOU NEED?• Are you really getting the best
out of your people?• «what you can start up here, you
cannot start up there»• HOW LONG DO YOU SPEND
PLANNING / TESTING?
Most factors are not controllable, but by focusing on their planning we can minimize the risk of failure, just make sure you have the right people in the right place with the
right processes, if you also have a good idea that does not hurt
EGITUSISTUDEPH
EGITUSISTUDEPH
EGITUSISTUDEPH
LISTEN TO YOUR CUSTOMERS, LISTEN TO YOUR CUSTOMERS
AND LISTEN TO YOUR CUSTOMERS, THEN WOW THEM WITH
ANSWERS
TIME• Do you have enough time to listen to your customers?• What are the tools you developed in order to analyse feedbacks and
translate them into actions?• How many focus groups have you run with your customers?
• Is the development of your app/website driven by your customers? • How much of your time is allocated to software development?
WHY DOESN’T THIS HAPPEN ALTHOUGH EVERYONE KNOWS?
DEVELOPMENT
PRESSURE• Are you the only one choosing the roadmap or are you developing what
your investors want to see to finance you?
YOUR REVENUE STREAM IS CRYSTAL CLEAR AND
STATISTICALLY PROVED
Free ServicesPaid Services
Survey, A/B Testing,
Benchmark
• Test your revenue stream at a very early stage• Take a statistical sample of your customers and build a case study on
how they react to the paid services and if they would use it• Find a company with the same revenue stream concept
By statistically prooving your revenue stream at an early stage, you gain more time to focus on your customers and have less pressure from your fund
HAVE ENOUGH MONEY TO PURSUE YOUR IDEA AND YOUR
CUSTOMERS’ FEEDBACK
RAISE OR EXECUTE?
TIME
• Are you executing to raise or are you raising to execute?• Most times you are the one who knows your business best if you have
started it for passion or for a need so give yourself the chance to be able to execute
• Few entrepreneurs have started their business with enough money to pursue their dream
Do not leave your job until you have enough money to actually make a business by yourself and not in someone’s behalf...or find the right investor
MOST SUCCESFULL STARTUPPERS ARE MOVED BY EITHER
PASSION OR PERSONAL NEEDS
«DON’T ENTER IF ALL WHAT YOU WANT
IS TO EXIT»Houzz early investor
HOUZZ’S CEO EXPERIENCE: ADI TATARKO
https://www.youtube.com/watch?v=COYlFGL3bdg
Min 4:50 to 7:15