Founders - why we do what we do - and why this sucks.

FOUNDERS Why we do what we doﬂickr: pictureperfectpose #howtoweb – @andreasklinger

@andreasklinger#howtowebslides: http://slideshare.net/andreasklinger

INVESTORS Carmen Busquets Dave McClure Eden Ventures Sherry Coutu Tom Hulme Seedcamp 500 Startups LOOKK Social Discovery &Shopping of emerging Fashion Designers.

NOT HERE TO PITCHI am “in-between startups”Time to reﬂect… #howtoweb – @andreasklinger

STARTUPS ARE AWESOMEﬂickr: an_untrained_eye #howtoweb – @andreasklinger

IT’S THE BEST TIME EVER TO START A WEB STARTUP This is an industrial revolution. “Software eats the world…” ~ Marc Andreessenfoto: wired #howtoweb – @andreasklinger

(YOU) FOUNDERS ARE AWESOME. VISIONARY CONVINCING AMBITIOUSﬂickr: stuckincustoms #howtoweb – @andreasklinger

FOUNDERS ARE VISIONARYﬂickr: spengben #howtoweb – @andreasklinger

BuildTheEnterprise.orgwants to build a real spaceship‘Gen-1 Enterprise’Project Plan: 20 years, $1 trillionCRAZY?VISIONARY?STUPID?

LOOKK in 2009.(Back then we were called Garmz)Bird-eye view ofour processes.3 Meters longFlowchart.“Start your own fashionlabel. You design. We dothe rest.”CRAZY?VISIONARY?STUPID?

fanbase crowd- proto- pre- prod- logisticsbuilding sourcing typing ordering uctionFirst Launch!We started right with the big vision.An unique business model torevolutionise a whole industry.

fanbase crowd- proto- pre- prod- logisticsbuilding sourcing typing ordering uctionWe didn’t know if these parts willactually catch ground.But linked them together.Pivot nightmare.

fanbase crowd- proto- pre- prod- logisticsbuilding sourcing typing ordering uctionOur competitor. Just preordering.Same press. Same VC interest.Same learnings. Faster iterations.

BEING VISIONARY IS NOT AN EXCUSE FOR NOT HAVING TRACTION START SMALL… FOCUS ON ESSENTIALS DELAY SUPPLEMENTALSﬂickr: tonivc #howtoweb – @andreasklinger

FOUNDERS ARE CONVINCINGﬂickr: stephenpoff #howtoweb – @andreasklinger

We don’t know our business/product yet… But we tell our customers they need it… And they believe it…ﬂickr: good_day #howtoweb – @andreasklinger

“A startup is an organisation formed to search for a repeatable and scalable business model.” ~ Steve Blankfoto: startupbootcamp #howtoweb – @andreasklinger

“Startups don’t fail because they lack a product; they fail because they lack customers and a proﬁtable business model” ~ Steve Blank (yes i am a s_blank fanboy)foto: LEAN LA #howtoweb – @andreasklinger

Still… Instead of asking we try to convince.ﬂickr: good_day #howtoweb – @andreasklinger

“Ask your customers!”

“Ask your customers!”Meh.

We ask our customers!But their feedback sucks.It’s vague & imprecise…They don’t do what they tell…And opinions…So many opinions…

Even if we don’t pitch.We are asking the wrong way.We want to build solution Y?What do you think?Would you use it?Would you pay for it?VSTell me about your day.Tell me about X?So X is a problem?How do you solve X now?How much you pay for that?

We are biasing &misunderstanding them…Plus we don’t ask theuncomfortable questions…Please watch Rob’s Talk:http://bit.ly/rf-custdev

This was us followinghis methods…Turns out… We had no idea.Pink = assumptionsYellow = new learned facts <- Sea of Sorrow aka Invalidated Assumptions

FOUNDERS ARE AMBITIOUSﬂickr: neilarmstrong2 #howtoweb – @andreasklinger

We all want thisﬂickr: stuckincustoms #howtoweb – @andreasklinger

Achieve Achieve Problem / Solution Fit Product / Market Fit Discover Validate Eﬃciency Growth We all get this. Source: custdev.comﬂickr: stuckincustoms #howtoweb – @andreasklinger

All phases of company building have diﬀerent key challenges. #1 Reason of startup failure: Believing you are further along. “Pre-mature scaling” Source: startupgenome projectﬂickr: stuckincustoms #howtoweb – @andreasklinger

We all want to scale! Hollywood style! #1 Question i hear: “How do i get funding for tech & do marketing?”ﬂickr: neilarmstrong2 #howtoweb – @andreasklinger

No Press nor VC is going to tell you this… Building an non-working company is as hard as building a working one. (then the non-working one dies) You can will be busy “scaling” without any product worth scaling.ﬂickr: bombeador #howtoweb – @andreasklinger

VCs have no friggin’ idea. Never ask a VC what you should do. They don’t know. Your customers know (look at your Only the good VCs will admit that. Bad VCs will give vagueness + homework.ﬂickr: bombeador #howtoweb – @andreasklinger

Investors are under more pressure than you. 9/10 startups fail. Startup follow a power law distribution . What about VCs? Accelerators? Local investors? They need to proof more than you do. Many are startups too, but play experts.ﬂickr: nasamarshall #howtoweb – @andreasklinger

No VC will tell you. Getting money is “easy”. Getting traction _hard_ Focus on the right things while your learning is cheap.ﬂickr: jdhancock #howtoweb – @andreasklinger

“My goal [..] is to keepthe business low overhead, until we have somethingthat I feel is a breakout hit” ~Justin Kan, Exec foto: wikipedia #howtoweb – @andreasklinger

Founders! Your biggest Just avoid the moststrength is that you are common mistakes invisionary, convincing being so.and ambitious.ﬂickr: eole #howtoweb – @andreasklinger

Thanks! Feedback & Questions please. #howtoweb – @andreasklingerﬂickr: pictureperfectpose

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Founders - why we do what we do - and why this sucks.

by Andreas Klinger on Nov 07, 2012

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Founders - why we do what we do - and why this sucks. Presentation Transcript