SUCCESS - Mobile Health 2012 - Launch and Iterate in Baby Steps
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Success @ManuKumar from @K9Ventures at #MH2012
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Transcript of SUCCESS - Mobile Health 2012 - Launch and Iterate in Baby Steps
Success
@ManuKumar)from)@K9Ventures)at)#MH2012
@ManuKumar)from)@K9Ventures)at)#MH2012
Success
The Myth ofOvernight
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@ManuKumar)from)@K9Ventures)at)#MH2012
“Oh, that guy / company just got lucky”
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@ManuKumar)from)@K9Ventures)at)#MH2012
“Oh, that guy / company just got lucky”
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@ManuKumar)from)@K9Ventures)at)#MH2012
Success leads to the creation of a revisionist history.
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@ManuKumar)from)@K9Ventures)at)#MH2012
Success leads to the creation of a revisionist history.
Founders
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@ManuKumar)from)@K9Ventures)at)#MH2012
Success leads to the creation of a revisionist history.
Founders Press
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Realityis Different
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@ManuKumar)from)@K9Ventures)at)#MH20126
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“Jack, what does it take to have a great company?” And he said, “It takes major setbacks and overcoming those.”
I hesitated for a minute, and I said, “Well, we did that in ’93 and then we did it again in ’97 with the Asian financial crisis.” And he said, “No, John. I mean a near-death experience.” I didn’t understand exactly what he meant.
Then, in 2001, we had a near-death experience. We went from the most valuable company in the world to a company where they questioned the leadership. And in 2003, he called me up and said, “John, you now have a great company.” I said, “Jack, it doesn’t feel like it.” But he was right.
From: http://www.nytimes.com/2009/08/02/business/02corner.html
Even GREAT companies have had NEAR-DEATH experiences.
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“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.”
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@Biz Stone, Twitter http://www.bizstone.com/2010/09/timing-lessons.html
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@ManuKumar)from)@K9Ventures)at)#MH20129
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10,000-Hour Rule
“the key to success in any field is, to a large extent, a matter of practicing for a total of around 10,000 hours.”
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Delayed Gratification:Stanford Marshmallow Experiment
“how long each child resisted the temptation of eating the marshmallow, and whether or not doing so was correlated with future success”
http://en.wikipedia.org/wiki/Stanford_marshmallow_experiment
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What works?
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Spiral ModelProposed by Barry Boehm in 1986
http://en.wikipedia.org/wiki/Spiral_model
ANALYZEDESIGNBUILDTEST
and REPEAT.
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Analyze: ProblemUserBusinessProduct
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Design1de·sign verb \di-ˈzīn\
Definition of DESIGN
transitive verb
1 : to create, fashion, execute, or construct according to plan : devise, contrive
Design1de·sign verb \di-ˈzīn\
Definition of DESIGN
transitive verb
1 : to create, fashion, execute, or construct according to plan : devise, contrive
2 a : to conceive and plan out in the mind <he designed the perfect crime> b : to have as a purpose : intend <she designed to excel in her studies> c : to devise for a specific function or end <a book designed primarily as a college textbook>
3 archaic : to indicate with a distinctive mark, sign, or name
4 a : to make a drawing, pattern, or sketch of b : to draw the plans for <design a building>
@ManuKumar)from)@K9Ventures)at)#MH2012
Design: Anything that has been thought about, or considered, has been DESIGNed.
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@ManuKumar)from)@K9Ventures)at)#MH2012
Design: VisualProductInteraction / ExperienceConcept / IdeaTeam / CultureRevenue Model
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@ManuKumar)from)@K9Ventures)at)#MH2012
Build: ScopeTimeline
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@ManuKumar)from)@K9Ventures)at)#MH2012
TEST:Does it work?Why? Why not?What can be improved?
& back to ANALYSIS.
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@ManuKumar)from)@K9Ventures)at)#MH2012
BABY STEPS:
ANALYZEDESIGNBUILDTEST
& Repeat
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@ManuKumar)from)@K9Ventures)at)#MH2012
The Definition of Entrepreneurship:“Insane perseverance in the face of complete resistance”
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As learnt from Prof. Jack Thorne Blog post: http://k9.vc/k9perseverence
@ManuKumar
