JKTFI April 20 Research & Customer Development: Novistiar Rustandi

8/21/2019 JKTFI April 20 Research & Customer Development: Novistiar Rustandi

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StartupResearch

Novistiar Rustandi



Why Research?

1. Impacts strategy and tactics2. Impacts ability to identify talent3. Impacts ability to attract talent

. !emonstrated "no#ledgeimpacts ability to attract capital

$. %heaper to ma"e mista"es on

paper&. 'ill your idea(



What to Research?1. )our *assion + ,re you e-cited?

2. %ustomer and ar"et + Will theybuy?

3. /usiness odel + Is there margin?. 0rends and 0ail#inds + Whats

changed or changing?$. Sales and oc"ups + Will people

buy?

&. *rototype 0echnology + %an youbuild it?

4. 0eam + %an you sta5 it?6. Resources + %an you fund it?



)our *assion

,re )ou 7-cited?

Is this something you #antto do for the ne-t 28

years?



%ustomer and ar"et

Will 0hey /uy?

• Surveys 9Surveyon"ey:

• ;oogle 0rends



%ustomer and ar"et

7-ample of Surveys

• !emographics< =state of the

industry>• sability test• Naming• %ompetitivelandscape research• *ricing• Survey your customers 9if youre

big:



%ustomer and ar"et

Survey 0ips

• se @aceboo" ,ds and ;oogle

,dWords• Sell it rightA =Bust ta"e a minute(><

=@un survey(>< =;et paid to help astartup(>

• !o not as"< =,re you a single< career#oman< aged 2$ 38?>

• %ollect data about the respondents<

then ignore those you dont #ant•



%ustomer and ar"et

Survey 0ips

• In =,s"> surveys< the goal is to learn•

In =0ell> surveys< the goal is tocreate good mar"eting material

• )ou can as" Crst and tell second inthe same survey< but not vice versa



%ustomer and ar"et

Survey 0ips

• ,s" anything you might ever

possibly #ant• ;et demographic data

• Suggest mirroring the censusDuestions

• Eets you slice by demographics• Eets you compare your results to

Indonesian averages•

a"e almost every Duestion



%ustomer and ar"et

Survey 0ips

• ,void leading Duestions•

,void creating unrealistic situations9ma"ing them read a page of info#hen a real customer #ill have onlya oneline description:

• Falidate ans#ers 9as" the sameDuestion a di5erent #ay:



%ustomer and ar"et

Survey 0ips

• !o< retry< do again•

Start out #ith 18• Revie# the results• @i- the survey• 0ry again #ith 188

• ;et at least 1<888 respondents 93Gmargin of error:



%ustomer and ar"et

Survey 0ips

• *lay the Clters 9e-cludes unDualiCed

respondents and ans#ers:• Eoo" at interesting subpopulations• se lots of pretty graphs• %ombine related stu5 9li"e multiple

Duestions in one graph:



%ustomer and ar"et

/ig ideas attract /ig 0alentHso

Why not address a multibillion dollar

mar"et?

• %hoose the right level of granularity• /igger is better than small• ;ro#ing is better than shrin"ing• ,ddressable is better than vague• *otential is not actual•

*otential mar"ets are '



/usiness odel

Is 0here argin?

,re argins impacted by cost or salesprice?%onsiderationsA• %ost of Substitution•

%ompetitor Response• ar"et *rice Sensitivity• @i-ed vs. Fariable %osts



0rends and 0ail#inds

Why not have at least 3 tail #inds?What trends are in your favor?Why is the time no#?

0rends that can helpA• ar"et• 0echnology• !emographic %ultural Social• Regulatory• 7conomic



Sales and oc"ups

Will *eople /uy?

%reate a simple moc"up for your product

7-ampleA i*ad paperframes



East 0hree

• *rototype 0echnology +%an you build it?

• 0eam + %an you sta5 it?• Resources + %an you

fund it?



Jints and 0ips

• 0he Internet and trade associationshave volumes of data

• Studying the competition is

ine-pensive< 9and customary:• Surveys are easy• Search volume can be telling• S7% Clings< Wall Street annalist reports



Jints and 0ips

• 7-periments #ith ad buys could #or"• @ocus ;roups #ith oc"ups al#ays

have une-pected results

• Eots of "no#ledgeable people #ant tohelpA• *otential Investors• ,dvisors• *otential Jires• Fendors

0al" to lots of =e-perts>< ignore #hena ro riate



=7-perts> %an /e Wrong

• ,0K0 + =Why #ould you #ant to hear avoice?>

• @ord + =/ut #e #ant faster horses>

• icrosoft< ,pple + =/ut *%s are toys>• ,0s + =Why #ould anyone need

that?>• Sony Wal"man + =*eople #ant bigger

not smaller>• ;oogle + =Search is over< )ahoo #on>

JKTFI April 20 Research & Customer Development: Novistiar Rustandi

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