Launch Your Startup Idea for Less than $1,000
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Transcript of Launch Your Startup Idea for Less than $1,000
How to Launch Your Startup Idea
Michael Karnjanaprakorn, @mikekarnjCEO/co-founder, @skillshare
http://skillshare.com
Background
The biggest cost to a startup is time, not money.
Most start-ups fail not because the technology doesn’t work, but
because they are creating the wrong product for the wrong
market.
I. FINDING YOUR IDEAGoal: Find a problem you’re passionate about solving.
Start With Why
Climbing the Entrepreneurial Ladder
List of Ideas
II. DEFINING YOUR MVP
Q: Is this problem worth solving? Answer by talking to users.
Q: What’s the solution to this problem? Answer is MVP.
5-Step Process:
1. Communicating Your Idea2. Running Customer Interviews
3. Brainstorming Solutions 4. Refining your MVP5. Setting initial goals
Customer Interviews
1. Why wouldn’t Skillshare work?2. Why would Skillshare fail?
1) 1,000 email addresses2) Sell out all of our initial classes
(3 per month x 3 months)
All on a budget of $5,000 without writing one line of backend code
Example: Skillshare
Skillshare Alpha Website
Marketing
Marketing
The biggest cost to a startup is time, not money.
Most start-ups fail not because the technology doesn’t work, but
because they are creating the wrong product for the wrong
market.