Post on 14-Apr-2018
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F A S T S T A R T S T U D I O
S E R G E Y S U N D U K O V S K I Y P H . D .
What to Do Once You Have an
Idea1
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Introduction2
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Background3
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Agenda
Visualizing Your Idea
Putting Together a Deck
Finding Co-Founders/Mentors/Advisors
Building a Prototype
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Startup Progression
Idea is not a product, product is not a company
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Visuals
Idea Description
Idea Visualization
Wireframes
Mockups (UI)
Clickable Prototype (UX)
Videolize
Mind Mapping
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Idea Description
Idea Description
Success Calculator: Inventor (cloud over the head). Many factors
represented by circles (founder experience circle, previous startup
experience circle, competition circle, funding circle, customer circle,market size, industry circle, board of directors circle, product
development experience, advisers circle) go into the SourceIgniter
Predictor Engine box, what comes out is a Success Score
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Idea Visualization8
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Wireframes vs. Mockups9
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Clickable Prototype10
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Prototyping Tools11
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Videolize
Videolize aka video scribe Same as visualize only better
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Putting Together a Deck15
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Deck Rules
10 slides
In reality it is 3 (others are used as reference)
20 min
In reality it is 5 (at most)
30 point font
Last guy from the end of the table
Too much information
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Deck Rules
Picture is always better !!!!!
It is worth 84.1 words
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Deck Structure
Executive Summary Problem
Solution
Platform
Market Opportunity
Business Model
Pricing
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Financial Projections Competitors
Differentiation
Competitive Advantages
Team
Milestones/Roadmap
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Mind Mapping
Organize Your Thoughts
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Mind Mapping Tools20
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Pressure Testing
Have your idea and the pitch pressure tested
Do not insist on NDAs. Nobody cares
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Market and Customer24
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Differentiation
Features
Business Model
Target Audience
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Competitive Strategies
Prices
We are just like that only cheaper
Differentiation
We are just like that with following differences
Niche
We are just like that only verticalized
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Competitive Advantages
Not Easy to Overcome
Original Content
Execution
Loyal Customer Base Brand Awareness
Easy to Overcome
Patents
First Mover
Obscurity
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Deck Distribution
Push your deck online
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Where to Find One?33
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Co-Founder Selection Criteria (cont.)
Complementary Skillset
Worked Together Before
Similar Work Ethic
Similar Commitment Level
Similar Conflict Resolution Style
Can Disagree and Commit
Ideal Number of Co-Founders is 3
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Right Incubator Program
Make sure to pick a right program for you
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Building a Prototype
Prototype Purpose
Prototype Features
Prototype Duration
Prototype Starting Point
Evolutionary vs. Throwaway
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Building a Prototype
If you are not failing you are not trying hard enough
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Product Development45
Startup DNA
by Yevgeniy Brikman
http://www.slideshare.net/brikis98http://www.slideshare.net/brikis987/30/2019 Startup Idea
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Product Evolution vs. Revolution
Which picture do you think is right?
Hint: They are not identical
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OR
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Product Analytics
If you cant measure it you cant improve it
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Analytical Tools49
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Traction Points
Sample Traction Points CTR
Number of sign ups
Number of sign ins Number of video uploads
Number of product configurations
Number of store deployments
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What Can Be A/B Tested?
Headline
Lead (first sentence)
Hero Shot
Font
Color
Call To Action
Number of Steps in the Funnel
Algorithm
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Usability Testing
Eye Tracking
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What Are They Measuring?
Attention
Emotion
Task Completion Time
Hovering
Clicks
Hotspotting
Path
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Usability Testing Tools57
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Business Metrics
Sample Business Metrics CPA (Cost Per Acquisition)
Churn
Break Even Duration TOC (Total Cost of Ownership)
LTV (Live Time Value)
Average Support Contracts
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Prototype Starting Point
Find open source starter product to build upon
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