startup pitching and mobile app startup
TRANSCRIPT
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Kobkrit Viriyayudhakorn, Ph.D. [email protected]
http://www.kobkrit.com
Lecture 14 @ kobkrit.com
React-Native Course
Startup PitchingMobile App Startup
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Important Links• Source Codes
https://github.com/kobkrit/learn-react-native
• Course Materials http://www.kobkrit.com/category/programming/react-native/
• Score Announcementhttp://bit.ly/its484quizscore
• Facebook Grouphttps://web.facebook.com/groups/ReactNativeThai/
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Pitch Deck
Cover Problem Solution Traction
Market Business
Team
Expertise
Vision
Competition
< Demo goes here
Ask
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Cover• Nice Teaser Picture
• Having your Company Logo, Company Name.
• Elevator Pitch (High Concept Pitch)
• What? How? Why?
• Youtube: Filckr for Video.
• Contact and Date
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Problem• What is the problem?
• How significant it is?
• Who has it? Who is the most pain receivers for this problem?
• How big it is?
Slidebean
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Solutions
• How we solve the problem?
• Why it make your customers happy?
• Why we are better and different?
FourSquare
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Demo
• Money Shot Moment!
• Show Killer Feature.
• Demo Screen Shots Video.
• Demo will FAILED. Have a Backup.
https://www.youtube.com/watch?v=R0AoOvXxI4o
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Traction
• How much money you can make?
• How many active user?
• Testimonial
• Goal: We have valid problem and valid solution.
• Problem-Solution Fit.
Mixpanel
If you has no traction, your problem and solution is just a fantasy — Peter Browne
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Map me
Man packs
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Market Size• Bigger is better!
• Estimate size of your customer
• Top-down approach
• Bottom up approach
• What is their characteristic?
• Estimate your revenue?
AirbnbTop-down approach
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Square
Kibin
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Top-Down approach• Some research institute said Logistic market is
about 100billion USD.
• 10% of that deliveries item via motorcycle.
• We aimed to get 20% of that the total market size.
• Woot! Our business is 100billion x 10% x 20% = 2billion!!
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Bottom-Up approach• More reasonable.
• Right now, Our transaction size is 100USD
• We have 100,000 customer in Thailand
• Our customer purchases 2 time a year.
• Market Size is 100USD x 100K x 2 = 20mil USD
• Our market growing at 200% per year!
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Business Model• How do you make money?
• Unit economic
• Customer Acquisition Cost (CAC) < Customer Lifetime Value (CLV)
• Top 1-3 source of revenue.
• Revenue Models
• Ecommerce? Subscription? Adventising? Affilate?
Four Square
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Youtube
Linked in
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Expertise
• What is your unfair advantage?
• Proprietary Technology
• Patent
• Big Makes Lead
• Experienced Team
Square
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Competition• List all of your
competitors.
• Show how you’re better or different.
• Find the most 2 values of your customers care and you are best on it.
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Vision• What is your future
plan?
• What is your ultimate goal?
• What is your roadmap?
• How can you win customer and win market?
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Team• Who are you?
• What make you so interesting?
• Geeks with deep tech knowledge
• Entrepreneurs, who just sold the company
• Sales/Marketing, who bring a lot of customer.
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Ask• How much money do
you want?
• What will you do with that?
• New Hires
• Marketing
• Infrastructure
Tourist Eye
Square
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Recap
Cover Problem Solution Traction
Market Business
Team
Expertise
Vision
Competition
< Demo goes here
Ask
Normally ~5 minutes
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Startup Metric
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AARRR Metric• AARRR Metric (from Dave McClure 500 Startup)
• Acquisition
• Activation
• Revenue
• Retention
• Referral
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Unit Economics• Getting a new customer, make us richer or
poorer?
• CLTV (Customer Lifetime Value) - Contribution Margin (Profit) created by a customer in their life time.
• CAC (Customer Acquisition Cost) - Cost to make an visitor experience to our service.
• CLTV >> CAC
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4 Stages of Startup1. Hypothesis
• Have at lease five customers pay (revenue), Move next.
2. Problem/Solution Fit
• Have at least 40% retention rate, Move next.
3. Product/Market Fit
• Raise Fund now! Scaling up time!
• Positive Unit economics, CLTV >> CAC. Move next.
4. Product/Economy Fit
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Hypothesis Stage• Planning your business on your business model
canvas (or lean canvas)
• 9 Important sections in the business.
• Prove each section one-by-one until we got the valid business model.
• Qualitative interview customer for problem and solution.
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General Development Process
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First 6 months• Development of 3-D world graphics
• Make plug-in to connect with 15 existing chat apps.
• ICQ
• MSN
• …
• Invest time, staff, effort and a lot of money
• Yahoo Messenger
• AOL
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0 customers• Customer said: I don’t want to use imvu to chat with my
friends, because my friend don’t use imvu. I chat with my friends with existing chat app.
• Another Customer said: We want to find a new friend via imvu. Not want to talking with the old one.
• Founder of IMVU said: Why we invest 6 month to make plugin to 15 existing chat app!?
• This worth nothing. Giving everybody in company for 6 months vacation is better!
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How can we test the market earlier without invest a lot of efforts in making product?
We don’t want to build a product that nobody
wants.
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Lean Startup Methodology
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Testing Problem
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Making MVP• Learn insight from the previous product interview.
• Start making an demo by making the MVP (Minimum viable product)
• Simple web/app that can solve a problem for customer
• Make it as fast as possible.
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2 hours investment
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Testing Solution
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What next?Make + Release your product.
Measure by AARRR Learn / Pivot
Loop
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Problem/Solution Fit
• Requirement
• Customer have strong demand to pay for your product.
• At least 5 paying customers.
• Your solution can solve your customer’s problem.
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Product/Market Fit• Sean Ellis Test: At least 40% people feel disappointed
when you said they could no longer use the product.
• AARRR: At least 40% Retention Rate
• Depend on industry
• Social Network, at least 60%
• E-commerce, at least 20%
• Raise fund now! Time to scale.
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Growth Hacking Now!Investors want to see at least 20%
growth month-over-monthat this point.
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Product/Economy Fit• Be able to achieve attractive economics at scale.
• CLTV >> CAC
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Failed to Product/Economic Fit
https://hackernoon.com/why-startups-fail-after-product-market-fit-f8c558e4f1f8#.wnsjo1y8r
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Startup Funding• Pre-Startup / Early Stage - Hypothesis
• Family & Friends
• Seed Round - Problem/Solution Fit
• Incubators, Angle Investors
• Series A, B,… - Product/Marketing Fit
• VC, At least 1 million USD
• Exit - Product/Economy Fit
• IPO, Sale
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