UTS ACES Pitch and Build Startups - a guide for Project Pitch weekend!

ACES UTS Workshop #2

10th September 2014

DanielRingroseWednesday, 10 September 2014 Page 2


A survey of 3,200 startups proved:

• 74% of businesses that failed did so due to premature scaling

• 60% of inconsistent (premature scaling) startups focus on validating a product

• 80% of consistent (controlled scaling) startups focus on discovering a problem

space


If we build it, they will come


If we build it, they will come




“A startup is a human institution

designed to deliver a new product or service

under conditions of extreme uncertainty”

- Eric Ries





2.5% 13.5% 34% 16%34%

Early Adopers

InnovatorsEarly

MajorityLate

MajorityLaggards

Customer Discovery

Customer Validation

Customer Creation

Company Building

STARTUP GROWTH SCALE MATURITY

Search for Problem & Solution Fit

Search for Product & Market Fit

Market Disrupted

DECLINE

Transition

Find these customers

Rogers Innovation Adoption Curve

Wednesday, 10 September 2014 Page 14

VALUE PROPOSITION CANVAS

DanielRingrose


Experiments help you find the evidence you need to win Project Pitch:

1. Customer Interviews

2. Solution Pitch

3. Pitching your MVP

4. Concierge customer transactions

5. Pitch the judges


Startup Founders

TechPartners

UX Partners

TECHNICAL LEAD

a.k.a. Hacker

EXPERIENCE LEAD

a.k.a. Hipster

Startup Team Structure

Domain Experts

BUSINESS LEAD

a.k.a. Hustler


Your idea hypothesis:

1. Most likely Customer

2. Their Biggest Problem

3. Solution (experiment 2+)

4. Riskiest Assumption

5. Success Result e.g. 5/20



• Stick to your results decision

• Learn from customers stories

• How big is the pain?

• How have they fixed it?

Form your next experiment!

Go out again and keep trying!


Keep interviewing until:

• You proven a customer niche

• You’ve found a big problem

Then, start talking with a target

customer about your solution…

Listen to what they say next!


The Quick Pitch Structure

My company {xxx co. name},

is developing {e.g. an app, site}

to help {define customer(s)}

{state problems you solve}, with

{your secret sauce}


• If their reaction to your solution

is lukewarm, it’s time to PIVOT

• If they go crazy about your

idea, PERSEVERE and ask

how they will use it.

Will they buy it on the spot?

Form your next experiment!


Mockup / Prototype Landing Page Video Pitch

• Create a ‘Minimum Viable Product’ and sell it to customers… really early!

• Test where you find your customers. Use results to form new experiments


Fake it till you make it!

• Learn about jobs-to-be-done and

deliver your offer manually

• Don’t start coding until you know

which features customers find

most valuable

• Measure it through experiments!


1. Only start on solutions once you really understand a customers needs

2. Family and friends like you too much to say your idea sucks

3. Avoid any technical jargon. Talk in customer’s language so they get it

4. Don’t be scared to fail. A bruised ego is better than a dead-end startup

5. Have fun! You and your team should enjoy the journey


1. Your startup: first, elevator pitch (30s), then how your idea works (30s)

2. Market size: how much money, how many people affected – stats! (30s)

3. Competitors: Who is already doing this, and why you’re unique (30s)

4. Status and Traction: What you’ve done, how many customers you’ve

got, how much money you’ve made, and what you will do next (1m)

5. Ask (optional): Do you need advisors, team skills, partner intro’s? (30s)


1. Be calm, confident and clear. Nominate a pitch lead. Practice lots!

2. Keep your slides simple. Avoid small text and animations that distract

3. Comparisons are good – e.g. we’re AirBnB for dog minding

4. Don’t bullshit the judges. If you don’t know yet, say how you’ll find out

5. Don’t read your pitch or lose connection with the room.


[email protected]

linkedin.com/in/danielringrose/

@danielringrose

Leadership & Management

UTS ACES Pitch and Build Startups - a guide for Project Pitch weekend!