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LAUNCH YOUR BUSINESS IN A WEEKEND SUPPORTED BY DESIGNERS, DEVELOPERS AND BUSINESS EXPERTS
WHY LAUNCHWEEKEND?
South Africa needs entrepreneurs
We are being whipped by China, India, Brazil, USA, Kenya, etc. Many entrepreneurs fail from avoidable mistakes
WHAT IS LAUNCHWEEKEND?
Learning experience: Lean Startup, Startup Science and Effectuation
Competition: Get more done, Bring out your best
Mentors and advice: Designers, Accountants, Startup Experts, Cofounders, Marketers
Build your business: Business Model, Customer Validation, Logo, Website, Financial Plan, Go-to-market, Test Critical Assumptions, Validate Business Model
FoundersCircle: Smart entrepreneurs sharing great ideas. Invite only club for up and coming entrepreneurs.
ADMIN?
Twitter Hashtag: LaunchWeekend
Facebook:
Blog:
Wi-Fi Code:
Restrooms:
Fri
18:00 Idea pitches 18:30 Team formation 19:00 Lesson: Introduction and Lean Startup20:00 Day 1 finishes / starts
WEEKEND SCHEDULE
Sat
09:00 Lesson: Experiments 10:00 Test key assumptions 13:00 Lesson: MVP 14:00 Test key assumptions / Build MVP 19:00 Day 2 finishes / starts
Sun
09:00 Lesson: Effectuation 10:00 Test key assumptions / Build MVP13:00 Lesson: Startup Science 14:00 Prepare pitch 16:00 Pitches 19:00 Day 2 finishes / starts
OBJECTIVE 1
Radically improve your startups chance of success
Very Unlikely
VeryLikely
Even chance
1
2
3
4
5
6
7
8
9
10
Financial Management
Industry Knowledge
Quality of Advice Sort
Team Quality
Opportunity
Traction
Business as a priority
Business Community
Pre-mature scaling
Vision
A large body of research shown that these 10 variables predict startup success
STARTUP SCIENCE
EFFECTUAL THINKING
Inside the minds of great company
builders
OBJECTIVE 2
Help you find a plan that will work
Average plan Awesome plan
15 secs
Who you are?
PITCHES (60 SECONDS)
What is your idea / business?15
secs
15 secs
15 secs
How much progress have you made?
What help do you want?
1 Balanced team are better
TEAM FORMATION SUGGESTIONS
Ideally 2 to 4 members
EXPERTS
2
ENTREPRENEURS
It okay to move3
Work in parallel 4
1 Take advice
Be open to new ideas2
Delegate3
Healthy debate is good4
WHO WANTS TO PITCH FIRST?
WHAT’S WRONG WITH MY PLAN?
WHAT’S WRONG WITH MY PLAN?
WHAT’S WRONG WITH MY PLAN?
Source: Bhide (2000)
33% 66%
No!Yes!
WHAT’S WRONG WITH MY PLAN?
WHAT’S WRONG WITH MY PLAN?
WHAT’S WRONG WITH MY PLAN?
entrepreneurs that attend our training significantly changed their business model, for the better.
97%
HOW DO YOU KNOW IF YOUR PLAN IS GREAT?
The only thing that matters is product/market fit- Marc Andreessen
PRODUCT/MARKET FIT?
Interest!
Satisfaction!
vs.
HOW DO YOU ENSURE YOUR PLAN WILL WORK?
HOW TO CREATE PLAN THAT WORKS?
1. Sketch your business model (Plan) 10 minutes 2. Identify critical assumptions 5 minutes 3. Test critical assumptions 4. Keep changing until you find one that works
ALEX OSTERWALDER
CUSTOMER SEGMENTS
VALUE PROPOSITION
DISTRIBUTION CHANNELS
MARKETING, SALES AND SERVICE
REVENUE STREAMS
KEY RESOURCES
KEY ACTIVITIES
KEY PARTNERS
COST STRUCTURE
How much did the price of coffee consumption change in Swiss households over the last
couple of years?
800%
What was Nesspro’s business model?
businesses
Households(espresso fans)
Nespressomachines
businesses
Households(espresso fans)
Nespressomachines
businesses
Households(espresso fans)
Sales of Machines
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Sales of Machines
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Sales of Machines
NespressoPods
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
NespressoPods
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
NespressoPods
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
CallCentres
NespressoPods
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
CallCentres
NespressoPods
Nespresso.com
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
NespressoPods
Nespresso.com
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
NespressoPods
Nespresso.com
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Distributionchannels
NespressoPods
Nespresso.com
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centrespatents
Distributionchannels
NespressoPods
Nespresso.com
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
CentresProduction
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
CentresProduction
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
Coffee
machine
manufactures
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
Coffee
machine
manufactures
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod Sales
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Coffeegrowers
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
Coffee
machine
manufactures
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod SalesProduction
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Coffeegrowers
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
Coffee
machine
manufactures
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod SalesProduction
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Coffeegrowers
B2cdistribution
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
Coffee
machine
manufactures
b2c
distribution
coffee
Nespressomachines
businesses
Households(espresso fans)
Retail outlets
Pod SalesProduction
Sales of Machines
Mail Order
Nespresso
StoresCall
Centres
Marketing &Sales
Production
Coffeegrowers
marketing
B2cdistribution
Production
facilitiespatents
Distributionchannels
NespressoPods
Nespresso.com
KAUFMANN PROVE IT VIDEO
1. INSERT VIDEO
THE LAUNCH CANVAS
BUSINESS MODEL
PROCESS
EXPERIMENTS
COULD SEGWAY HAVE SAVED MILLIONS?
Assumption Learning Task Expected Result Actual Result Decision
Experi
ment 1
Experi
ment 2
Customer will purchase
Sell to 100 customers
30 / 100
will purchase
the product
0 / 100
purchased the
product
Pivot:
New idea
Mass MarketSegway
personal
transporter
COULD MOTOROLA HAVE SAVED BILLIONS?
Assumption Learning Task Expected Result Actual Result Decision
Experi
ment 1
Experi
ment 2
Customer will purchase
Sell to 100 customers
5 / 10
will purchase
the product
0 / 10
purchased the
product
Pivot:
New idea
Mass MarketIrrium
Phone
IT SAVED US A YEAR?
1. INSERT VIDEO
THE LAUNCH CANVAS
1 SKETCH BUSINESS MODEL
2 IDENTIFY ASSUMPTIONS & UNKNOWNS
Customer
Distribution
RevenueCosts
Partners
Activities
Resources
Value Proposition
Marketing
Unknown 1
Unknown2
Unknown3
Unknown4
Unknown5
3 ORDER ASSUMPTIONS
5 VALIDATE QUALITATIVELY
4 RUN EXPERIMENTS
6 VALIDATE QUANTITATIVELY
THE LAUNCH CANVAS
Customer
Distribution
RevenueCosts
Partners
Activities
Resources
Value Proposition
Marketing
Unknown 1
Unknown2
Unknown3
Unknown4
Unknown5
1 SKETCH BUSINESS MODEL
2 IDENTIFY ASSUMPTIONS & UNKNOWNS
3 ORDER ASSUMPTIONS
HOW TO IDENTIFY ASSUMPTIONS?
Question 1:How much proof do we
have this is true?
Question 2:How much will the
business model need to change if this
assumption is wrong?
Unknown 1
Unknown2
Unknown3
Unknown4
Unknown5
THE LAUNCH CANVAS
1 SKETCH BUSINESS MODEL
2 IDENTIFY ASSUMPTIONS & UNKNOWNS
Customer
Distribution
RevenueCosts
Partners
Activities
Resources
Value Proposition
Marketing
Unknown 1
Unknown2
Unknown3
Unknown4
Unknown5
3 ORDER ASSUMPTIONS
5 PROVE THE MODEL QUALITATIVELY
4 PROVE THE MODEL WITH RESEARCH / INTERVIEWS
6 PROVE THE MODEL QUANTITATIVELY
Learningtask Expected
ResultActual
ResultActual
Result
Partners
Resources
Customers
Learningtask Expected
ResultActual
ResultActual
Result
Learningtask Expected
ResultActual
ResultActual
Result
Learningtask Expected
ResultActual
ResultActual
Result
Value
Proposition
Activities Marketing
Distribution
RevenueCosts
Learningtask Expected
ResultActual
ResultActual
Result
Expected
ResultActual
ResultActual
ResultUnknown Learningtask
Expected
ResultActual
ResultActual
ResultUnknown Learningtask
Expected
ResultActual
ResultActual
ResultUnknown Learningtask
Expected
ResultActual
ResultActual
ResultUnknown Learningtask
Expected
ResultActual
ResultActual
ResultUnknown Learningtask
Customers
Distribution
RevenueCosts
Resources
Value
Proposition
Activities
Partners
Marketing
READY FOR
INVESTMENT AND
RAPID GROWTH
TONIGHT
1 SKETCH BUSINESS MODEL
2 IDENTIFY ASSUMPTIONS & UNKNOWNS
3 ORDER ASSUMPTIONS
5 PROVE THE MODEL QUALITATIVELY
4 PROVE THE MODEL WITH RESEARCH / INTERVIEWS
6 PROVE THE MODEL QUANTITATIVELY
READY FOR
INVESTMENT AND
RAPID GROWTH