Berlin Startup Learnings, Tips, Tricks: Dutch startup Tour Berlin Nov13
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Transcript of Berlin Startup Learnings, Tips, Tricks: Dutch startup Tour Berlin Nov13
Confidential - © 2013 twago0
Startup Tour @Axel Springer Plug & Play
Berlin, November 2013
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Very
warm
Welcome
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Intro Gunnar
Founder and former CEO of twago.com
Consulting (startups, business models, strategy, market places etc)
Mentoring Axel Springer Plug&Play
Preparing „the next big thing“
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twago ...
... is the #1 European marketplace for cloud working –we democratize the world of working
... focusses on everything which can be done online from anywhere in the world
… eliminates geographical boarders for contract work
… provides small medium businesses access to more than 190,000 freelancers and experts in the cloud from 189 countries – they realize 24/7 the 23.000+ client ideas
... contractors offer a wide range of online skills - from websites, online shops, mobile, logo- and graphic design to marketing, translations or writing
... has currently a clear focus on Europe with 7 local versions,local native experts
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30 out of 100 working people will work online as freelancer.
They need jobs!
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twago is the Wirtschaftswunder for freelancers worldwide
More jobs
More income
Growth
Safety
Less admin hassle
It is time to pay attention to Germany’s new Wirtschaftswunder.
about the German economy
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For customers: Get results easier and faster for half of the costs - The twago way saves time and money
Before Today
Time savings: about -50%
Cost savings: up to -70%
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Marc Andreesen
„If you turn toprofitability too early, you might end up as a small company!“
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Scaling is a mind game
• Manual work kills scale
• Invest in automation and processes (I know, I know)
• Working with templates (SEM landigpages, etc.)
• If you wonna go global, havethe option to quickly adddifferent languages
• Avoid local adaptions
and ...
Never lean back0
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Posted Projects / Month1
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twago has successfully monetized the world of work: We combine trans-action fees with established subscription model with recurring revenues
Transaction model
Memberships with recurring revenues (Freemium Model)
5€ - 79€ value add features such as highlighting of projects or projects with NDA
Highest priced in industry
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We changed major topics
To...From...
OutsourcingOffshoring
Combined Marketplaceand Memberships
Marketplace only
Focus on core countriesAll countries immediately
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TeambuildingHire only team members which make you better, not bigger
• Hire only team members which make you better rather than bigger
• Use the methods of headhunters: LinkedIN and Xing
• Create entrepreneurs – make them responsible
• Enable them to take decisions!
• Keep your risk under control: Use interns and trainees
• Min. duration = 6 months
• Really good people = high salaries, compensate with equity,
• Make a cut if it doesn’t work
• Invest your time: Coaching, coaching, coaching
• Celebrate!
Start Now
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Don‘t be afraid of paying high salaries for GREAT people –it‘s worth it
My Salary Best Employee
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Create a unique company cultureYour team must love to work with you and for you
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Have fun
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Friday lunch all together
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Impressive press coverage with more than 600 positive clippings helps us on the way to a global leader
“In countries like Italy, Portugal, Spain and, increasingly, France, where ongoing austerity measures and a tough business climate are having a devastating impact on permanent employment, it’s really encouraging to see Twago growing in these markets” (Top French Tech Blog ,31.01.2013)
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Journalists and our users selected twago several times for awards
Source: Voting for TheEuropas Award (techcrunch), TheNextWeb, Wirtschaftswoche et.al.
We are honored to have an award winning team
Mass media loves us: hundreds of articles worldwide
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Do not start with 3 people overhead – Co-founders should be nerds!
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Non experienced guys might lead to wrong setup and missing speed later
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Don‘t be afraid of the holy cows – Be faster with the B-players
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Stay flexible and ...
... adapt to customerneeds and learnings
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We changed major topics
To...From...
OutsourcingOffshoring
Combined Marketplaceand Memberships
Marketplace only
Focus on core countriesAll countries immediately
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Work on the most important topics which solve your problem (recurrings)
Put more resources on it
Courage for more own ideas
Have great people – no divas
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Building the product – We eat our own food
Product specification:
Spec. Homepage-Design:
Coding:
Translations:
Branding/Name:
Design of Webseite:
Design of Company Logo:
(Internally)
Germany
Russia
Switzerland
USA
Canada
Philipines
twago made use of outsourcing and offshoring:
twago successfully showed the „proof of concept“ –Huge chance for all startups
Which experts to choose depends on
your requirements
expertise
Savings roughly 60%
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Measure
Think
Analyze
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Analyze, analyze, analyze:Measure – think – change!
Key drivers
Traffic and customer behaviour
Conversion tests (A/B)
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Few words: Focus „Clean“ Build trust:
Verisign Logo, Phone number, green bulltes
Reduce exit-options
Improvements New DesignOld Design
Quelle: twago
Landing Page Test optimized conversion rates and reduces useracquisition costs significantly
Landing Page A/B Test
3%* 20%*
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Funding is very time consuming
Ask for enough money
Include buffer in your business planning
Avoid too many rounds
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Raising Capital – Welcome to lemming country• The right target group – VCs, Angels, Family
offices, Strategic investors
• How much? Not 1.0 Mio.!
• If you have one, you have many
• Expect stupid VCs
• Contact them en-block – everybody at the same time, not sequentially
• Don‘t use „[email protected]“
• The market is setting your price, not the VC valuation method
• Create and show your BATNA (best alternative to negotiated agreement)
• You can be peer to everybody
• Everything takes longer, expect 6-9 months
• Don’t over optimize the percentages
• It’s over when it’s over
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Expect the unexpected
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Thanks and feel free to follow me...
www.facebook.com/gunnarberning
www.twitter.com/gunnarberning
or email me: [email protected]