nine startup strategiesM.J. Delia

TechForum 2015 : MaRS Toronto

welcome

Think like a startup A white paper to inspire library entrepreneurialism

Brian Mathews Virginia Tech

building a platformframework for action

a culturecondition us for change

Mathews, 2012

M.J. D’EliaHelen Kula@helenkula @mjdelia

University of GuelphU of Toronto Mississauga

startupslibraries

new ventures startups

established organizations

contrastcompare

buildobservationsmindset

value

mindset2 31

test the problem

test the product

1

1

library catalog

example

1

customer discoveryIdentifying a product that will solve a problem

for an identified group of users

Blank, 2012 key term

get out of the building

stay in the building

2

2

customer feedback + surveys

example

2

customer validationConfirming that the market is large enough to embrace

the product and build a viable business

Blank, 2012key term

build it when they come

build it and they

will come

3

3

e-textbook analytics

example

3

company creationThe product, service or business is scalable

based on repeatable sales

Blank, 2012key term

build5 64

build for the few

build for the many

4

4

mobile (phone) content delivery

example

4

segmentationBreaking down a larger market into smaller

indentifiable groups of users who share specific needs

Cooper & Vlaskovits, 2010key term

build then learn

learn then

build

5

5

indie book platform

example

5

build-measure-learnA three-step feedback loop that enables rapid

development and constant adjustments

Ries, 2011key term

iterative design

pilot projects

6

6

secondary market (used books)

example

6

minimum viable productA product/service with just enough features

that allow it to reach the market

Ries, 2011key term

value8 97

use key data

collect all data

7

7

web stats social media metrics

example

7

dashboardingRegularly monitoring key metrics to track

core elements of the business

Komisar & Mullins, 2009key term

adjust the model

execute the plan

8

8

content marketing in ebooks

example

8

pivotA fundamental change in strategy based on

validated learning; a course correction

Ries, 2011key term

focus on value

focus on features

9

9

transmedia content

example

value proposition

9

The bundle of products and services that create value for a specific customer segment

Osterwalder & Pigneur, 2010key term

summary

you don’t have to be a startup to think like one

pitchA concise and convincing summary which communicates

value and concludes with a call to action

pitchUnderstand the problem

Validate the solution Communicate the value proposition

Compell the customer

questions

thank you!M.J. D’EliaHelen Kula

@helenkula @mjdelia

Blank, S. (2014). Steve Blank [blog]. Retrieved from http://steveblank.com Blank, S. & Dorf, B. (2012). The Startup Owner’s Manual. Pescadero, CA: K&S Ranch Cooper, B. & Vlaskovits, P. (2010). The Entrepreneur’s Guide to Customer Development. Newport Beach, CA: Cooper-Vlaskovits Komisar, J. & Mullins, R. (2009). Getting to Plan B. Cambridge, MA: Harvard Business. MaRS. Entrepreneur’s Toolkit. Retrieved from http://www.marsdd.com/entrepreneurs-toolkit/ Mathews, B. (2012, April). Think like a Startup [white paper]. Retrieved from http://vtechworks.lib.vt.edu/handle/10919/18649 Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley Ries, E. (2011). The Lean Startup. New York: Crown.

references