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F A S T S T A R T S T U D I O

S E R G E Y S U N D U K O V S K I Y P H . D .

What to Do Once You Have an

Idea1

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Introduction2

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Background3

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Agenda

Visualizing Your Idea

Putting Together a Deck

Finding Co-Founders/Mentors/Advisors

Building a Prototype

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Startup Progression

Idea is not a product, product is not a company

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Visuals

Idea Description

Idea Visualization

Wireframes

Mockups (UI)

Clickable Prototype (UX)

Videolize

Mind Mapping

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Idea Description

Idea Description

Success Calculator: Inventor (cloud over the head). Many factors

represented by circles (founder experience circle, previous startup

experience circle, competition circle, funding circle, customer circle,market size, industry circle, board of directors circle, product

development experience, advisers circle) go into the SourceIgniter

Predictor Engine box, what comes out is a Success Score

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Idea Visualization8

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Wireframes vs. Mockups9

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Clickable Prototype10

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Prototyping Tools11

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Videolize

Videolize aka video scribe Same as visualize only better

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Putting Together a Deck15

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Deck Rules

10 slides

In reality it is 3 (others are used as reference)

20 min

In reality it is 5 (at most)

30 point font

Last guy from the end of the table

Too much information

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Deck Rules

Picture is always better !!!!!

It is worth 84.1 words

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Deck Structure

Executive Summary Problem

Solution

Platform

Market Opportunity

Business Model

Pricing

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Financial Projections Competitors

Differentiation

Competitive Advantages

Team

Milestones/Roadmap

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Mind Mapping

Organize Your Thoughts

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Mind Mapping Tools20

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Pressure Testing

Have your idea and the pitch pressure tested

Do not insist on NDAs. Nobody cares

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Market and Customer24

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Differentiation

Features

Business Model

Target Audience

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Competitive Strategies

Prices

We are just like that only cheaper

Differentiation

We are just like that with following differences

Niche

We are just like that only verticalized

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Competitive Advantages

Not Easy to Overcome

Original Content

Execution

Loyal Customer Base Brand Awareness

Easy to Overcome

Patents

First Mover

Obscurity

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Deck Distribution

Push your deck online

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Where to Find One?33

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Co-Founder Selection Criteria (cont.)

Complementary Skillset

Worked Together Before

Similar Work Ethic

Similar Commitment Level

Similar Conflict Resolution Style

Can Disagree and Commit

Ideal Number of Co-Founders is 3

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Right Incubator Program

Make sure to pick a right program for you

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Building a Prototype

Prototype Purpose

Prototype Features

Prototype Duration

Prototype Starting Point

Evolutionary vs. Throwaway

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Building a Prototype

If you are not failing you are not trying hard enough

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Product Development45

Startup DNA

by Yevgeniy Brikman

http://www.slideshare.net/brikis98http://www.slideshare.net/brikis98

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Product Evolution vs. Revolution

Which picture do you think is right?

Hint: They are not identical

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OR

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Product Analytics

If you cant measure it you cant improve it

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Analytical Tools49

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Traction Points

Sample Traction Points CTR

Number of sign ups

Number of sign ins Number of video uploads

Number of product configurations

Number of store deployments

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What Can Be A/B Tested?

Headline

Lead (first sentence)

Hero Shot

Font

Color

Call To Action

Number of Steps in the Funnel

Algorithm

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Usability Testing

Eye Tracking

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What Are They Measuring?

Attention

Emotion

Task Completion Time

Hovering

Clicks

Hotspotting

Path

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Usability Testing Tools57

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Business Metrics

Sample Business Metrics CPA (Cost Per Acquisition)

Churn

Break Even Duration TOC (Total Cost of Ownership)

LTV (Live Time Value)

Average Support Contracts

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Prototype Starting Point

Find open source starter product to build upon

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