8. Building a website has become
very accessible
1990s 2010
Difficulty HARD Easier
Speed Months/Years Days/Weeks/Months
Hire, Try to learn, outsource,
Options Hire, Try to learn
3rd party tools
Books, friends, online,
Resources Books, friends
forums, Craigslist
Sites are being built more quickly and easily
9. The biggest obstacle for you is no
longer technical
Do you have a
product that
people want??
10. We believe in the “Lean Startup”
philosophy and execution
Eric Reis (nytimes) Steve Blank (nytimes)
11. The Lean Startup Model is just
like playing poker
Go all in without
seeing your cards?
Fold if things are
not looking good?
Image Credit: lasvegasvegas.com
12. The first step is to achieve
product/market fit
Maximize
Product/Market Fit Scale Up
Profit
14. Find potential customers outside
your own social circle
Join mailing lists and forums
Email people. Oftentimes, the right
people will help for free
Filter prospects with a simple survey.
Offer $25 for a 30 minute phone
conversation if selected
15. Craigslist can be a great place to
get feedback
Cindy Alvarez
Use the "gigs" section
Don't use an anonymous email address - but
don't use your main email address either
Providing your first name and a voicemail number
will grant you legitimacy
Clearly state the compensation amount upon
meeting qualifications and completion of the call
Expect a 10-15% flake rate
34. There are many affordable tools for
quantitative & qualitative analysis
35. At least 40% of your users should
be very disappointed if you’re gone
Very disappointed
Not disappointed or
Somewhat disappointed
Sean Elllis (startup-marketing.com)
Successful Product / Market Fit
36. We determined the viability of The
Wed Connect in just 5 days
Bounce Rates
87% of 68 people
56% of 16 people
21 Signups
Quick math:
Charge wedding vendors $2 / lead * 21 leads = $42
Costs: $0.44 * 68 people = $29.92
Potential profit: $0.58 / person
37. The Wed Connect just wasn’t the
right business for us
0 1 2 7 8
1 day Customer Research
1 day Analysis
1 day Build MVP
5 days Testing and Marketing
Great initial numbers but a frustrating business
38. Ante up, make your bets, then
decide -- will you go all in?
Research
Blinds Landing Page
MVP
Bet Early Marketing
Hire People
All In Seek PR
Image Credit: Logan Ingalls
40. Build and test your idea without
programming – Get going!
More questions? hello@launchbit.com
Purple feedback index cards
LaunchBit beta signup sheet
Blog: www.launchbit.com
@launchbit
MVP case studies
http://leanstartup.pbworks.com/Case-Studies
http://venturehacks.com/articles/minimum-
viable-product-examples