ideation bootcamp slides 08-15-12

7/31/2019 Ideation Bootcamp Slides 08-15-12

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So You Have a Startup Idea?

Startup Ideation 101

Joel Espelien - @EspelienJBDave Parker - @DaveParkerSEA

#SEFI

@Founding


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Agenda

What investors look for?

Big Ideas/ Big Market

Business model? 7 Rules

Example

BREAK

Your Turn


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Rules of the Road

Dont Ramble Ill interrupt

Network you need to build your network

Apply http://fi.co/join/bootcamp Application Fee is Waived before Sept 2 Early

Admission Deadline


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http://fi.co/join/bootcamp

15 Week Program with Local and SV Mentors

Ideation to fundraising

Office hours/Individual coaching Tuesday night meals

Costs *see FAQ

$50 Application Fee/Test Waived $995 Course Fee

3.5% of company into shared pool (peers, mentors and FI)

Post funding tuition - $4,500


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Mentors

Andy Liu

Todd Hooper

Dan Schapiro T.A. McCann

Rebecca Lovell


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Introductions

Joel Espelien

Chief Business Officer

General Counsel

SVP Strategy with Packet Video

Active Angel

Mentor for TechStars and FI in

Spanish

Dave Parker

Director, Seattle Founder Institute

CEO & Co-Founder Bundled.com

Co-Founder OneAccord Partners

Board Member Guidant Financial

Former Board Member

Classmates.com


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Dont be afraid to share your idea!

Ideas dont matter feedback, execution and

iteration do

You have more to gain than to lose

Nobody is going to steal your stupid idea

Dont ask an Investor to sign your NDA


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Most of you

have bad ideas,

anyway.


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Really.


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How Investors See You

Big Market/Big Idea

Team that can execute

Scalable ProductTraction


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About Markets?

B2B or B2C

Billions

$100M If you own the market how big would your be

Established vs. Immature

Market Leader vs. First Mover Known or unknown

Go-To-Market


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Big Ideas?

Simple

Aha idea

Transformational vs. Incremental Changes the world

Changes the market

Established or New Idea


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Passion!

Ideas!

Product

Doesnt make it a

great business

Execution

Company


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13 Consumer Models


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13 Consumer Models

TechCrunch Teardown: 13 Consumer Internet

Business Models (Part I) The World According To

Carp http://fndri.com/jEvuYa - Steven Carpenter

Media

Paid Service

Physical Commerce

Your idea has to foot to a model!

Benchmarks
http://fndri.com/jEvuYahttp://fndri.com/jEvuYa


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7 Rules


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7 Rules

1. Simple ideas win

2. You have one revenue stream

3. Name your customer4. Make something explainable

5. Small markets suck

6. Mix in secret sauce7. Be original


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Explain Your Idea


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I want to develop

to help

(solve a problem)

(with secret sauce)

(a defined offering)

(a target audience)

Idealibs for Startups


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The Offering

Be Specific

a social utility" vs "an ecommerce website"

Avoid Buzzwords

"mobile social CRM" vs "an iPhone application"

Skip the Adjectives and Superlatives

"a revolutionary service" vs "backend software"


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The Audience

Identify Demographics

"female consumers" vs new mothers"

Specify Your Market

"artists and musicians" vs "unsigned alternative bands"

Clarify the Buyer

"large businesses" vs "purchasing managers at

multinational companies"


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The Problem

Make sure everyone can understand the offering.

Hint at a viable revenue model.

"find deals online" vs "shop for hip baby products at

wholesale prices"


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The Secret Sauce

Explain what makes your business unique.

"faster" vs "with automated ordering for diapers and other

staples


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BREAK


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Workshop

Your

Turn!


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I am developing

(solve a problem)

(a targetaudience)

(with secret sauce).

(a definedoffering) to help

Step 1: Articulate

Step 2: Evaluate

Simple idea? One revenue stream?

Identifiable customer? Easily explainable?

Large enough market? Legitimate secret sauce?

Original?


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Thank You!


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Joel Espelien@EspelienJB

Dave Parker@DaveParkerSEA

ForestTreesBark.com


Early Admissions Deadline Sept 2nd

Final Deadline Sept 23rd

Session Starts October 2nd


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15 Week Program with Local and SV Mentors

Ideation to fundraising

Office hours/Individual coaching

Monday night meals

Costs

$50 Application Fee/Test Waived! $995 Course Fee

3.5% of company into shared pool (peers, mentors and FI)

Post funding tuition - $4,500


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ideation bootcamp slides 08-15-12

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