How to Turn a Full-time Job Into a B2B Business Opportunity
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Transcript of How to Turn a Full-time Job Into a B2B Business Opportunity
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The Hidden Benefit
How to Turn a Full-Time Job Into a B2B Business Opportunity
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>
2x B2B Startup Founder (Flagback & HireVoice)
Recognized Usability & UX Research Expert
2013 Most-Liked SlideShare Presentation Creator
Author of Lean B2B: Build Products Businesses Want
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Where did the majority of Inc. 500 founders find their business ideas?
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50% of founders got their idea at their previous employer
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50%*
* Study by University professor Amar Bhidé for The Origins and Evolution of New Business (2000)
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Outside-Invs.
Inside-Out?
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Part I
The Insider’s Competitive Edge
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1.
Easy access to customers
Start a business where you can get access to customers easily.
- Max Cameron, Kera Co-Founder and CEO
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2.
You know the initiatives & business priorities
If you don’t, you can ask...
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3.
You can define the problem owner, the buyers & figure out where to
start selling
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4.
You get credibility and expertise because you're from the market
If not, you can fake it...
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5.
You can run ROI calculations and start with real data
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6.
You understand the risks & what it takes to sell to large businesses
To overcome the “Status Quo Coefficient”, your solution should be at least two times
faster, two times better and two times cheaper than the known alternatives.
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7.
You can build a relevant professional network on company hours
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8.
You can pivot on the cheap at the idea level
It takes a while to get on people’s calendars [...] For this reason, it doesn’t make sense to leave your job before having a good indication that
you are working on a real business opportunity.
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9.
You can turbo-charge long sales cycles by starting with a paying
customer
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Part II
Other people have done it
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+
Martin Ouellet, Who Sold Taleo for $1.9 Billion, Recalls His Startup Experiences
Martin Ouellet
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+
Pyramid Digital Solutions Sells Assets to SunGard Business Systems
Dharmesh Shah
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+
iBwave Makes PROFIT 200 List of Canada’s Fastest-Growing Companies for Third Consecutive Year
Martin Bouchard
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Part III
Obvious Challenges
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Is it a market of one?
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Will anyone buy?
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Can it be productized?
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How will you transition from employee to entrepreneur if
you’re successful?
Fire !!
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Part IV
How to do it
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The First Question to Ask Yourself:
Core Business?
Non-Core Innovation?
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Keep your eyes out for explicit and implicit problems.
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People love to talk about their problems. The moment that you’re talking about a person’s problems,
they’re happy.- Brant Cooper, The Lean Entrepreneur Co-Author
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Network. Talk around the problem. Get different inputs.
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Narrow the field. Score problems by pain, budget availability and impact potential.
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Understand what you need to replace.
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Understand the market, the watering holes, influencers, risks, buyers, buying processes, etc.
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Create a plan to test your hypotheses.
There are
other
customers
The product
can be
productized
The market
is wide
enough to
sustain a
business
There
won’t be
legal
restrictions
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Solicit a broader set of voices.
+ =
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“Interesting” is a distraction, watch out.
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Don’t build. Negotiate your exit. Leave on good terms.
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Part V
Key Takeaways & Conclusion
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Which makes most sense?
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A Paid Work
B Saving up?
Which makes most sense?
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The best time to be an entrepreneur is when you, and your team, have really
learned about an unmet need, understand the customer’s pain and you
are ready to take the plunge.- Ken Morse, Serial Entrepreneur &
MIT Entrepreneurship Founder
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The shortest path to successful entrepreneurship is what you already
know. Start there.
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« Read this book before you schedule even one more meeting about your startup. » - Jeffrey L. Cohen, Co-Author, The B2B Social Media Book
« Lean B2B nails the key to being nimble and iterative in the complex, drawn-out world of B2B entrepreneurship: relationships. It captures how I've been running my own Lean B2B practice for years and makes it accessible to anyone. » - Brian Gladstein, CEO and Founder, Explorics
« Lean B2B is a must-read to understand one of the most under-addressed market opportunities by startups: B2B. » - Wandrille Pruvot, Chief Revenue Officer, Art of Click
« Lean B2B is filled with rock-solid advice for technology entrepreneurs who want a rapid-growth trajectory. Read it to increase your certainty and your success rate. - Jill Konrath, Author of AGILE SELLING and Selling to Big Companies
LEAN B2BBUILD PRODUCTS BUSINESSES WANT
@egarbugli /egarbugli
www.leanb2bbook.com
Étienne Garbugli: