A 2-hour workshop sharing some fundamental principles from the startup world, and some specific techniques around undersatnding your options, going to market, and adapting based on what you learn.

1. turning products
to new businesses
!
salim@foundercentric.com
@SaintSal

2. foundercentric.com
@foundercentric

4. – Lean Startup London, 2009
“I wish I knew that sooner.”

5. slow decisions
kill startups.

7. what startups can teach us
about product spinouts
3 Principles that founders apply
Different thinking hats for learning
How to decide what to learn.

8. the birthday paradox

10. Title TextFIT or SPEC?

11. Options
Detail

13. you don’t know which
pieces will be the right
combo. yet.

14. DISCOVER VALIDATE

15. A STARTUP RIDDLE
A customer wakes up, logs into a new
product which they’ve been trying for 2
weeks… and they love it!
The trial is over. They don’t buy.
Why?

16. LEARN CONFIRM

17. COLLECT ANALYSE

18. OBSERVE EXPERIMENT

19. DISCOVER VALIDATE

20. LEARN CONFIRM

21. INFO
COST

22. ACTIONABLE INFO
COST

23. ACTIONABLE INFO
AFFORDABLE LOSS
Look in Affordable Loss by
searching for Effectuation

25. learning

29. BUILD
LEARN
MEASURE
Learning Loop
- Eric Ries

31. How do we start?
We’re building a
community of street
artists and connecting
them to brands.

32. @robfitz

33. What do we build?
We want to
make a better
television.

34. How do we compete?
We’re building a word
processor and don’t
want to get squashed
by MS Word.

35. Do you commit the cash?
You have a crazy
product idea but the
manufacturing
setup is expensive.

36. Paul Graham
Launch fast and iterate.
You haven’t really
started working on it
till you’ve launched.

38. Don’t try to figure
out whether the idea
is “good” or “bad”.
That’s impossible...
Roger Martin (paraphrased)

39. Instead, ask what
would have to be
true in order for it to
be a huge success.
Roger Martin (paraphrased)

40. Where do we start?
We want to launch a
support programme for
the developing world but
we don’t have any
contacts.

43. How do you fund it?
You want to use tech to
modernize a stagnant
service industry, but
have no runway.

45. How do we get critical mass?
We want to grow a
marketplace, but we
have no inventory,
and no team.

47. How do we start
a better airline?
!
(with no support or money)
Let’s think bigger.

52. testing the
useful thing.

53. SPOT GAPS
UNDERSTAND OPTIONS
BALANCE FOCUS & OPPORTUNITY

54. SPOT GAPS
UNDERSTAND OPTIONS
BALANCE FOCUS & OPPORTUNITY

55. CUSTOMERS

56. REVENUE MODELS

57. VALUE PROPOSITIONS

58. AWARENESS TRIGGER

59. RELATIONSHIP

60. ACTION TRIGGER

61. CUSTOMERS REVENUE VALUE
AWARENESS RELATIONSHIP ACTION

63. LONDONERS

64. LONDON RETAILERS

65. CHARGE FOR THE GIFT

66. REAL GIFT,
INSTANTLY REDEEMABLE

67. GETTING A GIFT

68. MOBILE

69. RUNNING LATE,
MISSED BIRTHDAYS,
GOOD NEWS

70. LET’s Go.
We’re setting ourselves up to find product/market fit.
We’re making ourselves aware of opportunities and
options.

71. Who will our next 10 customers be?
What goals do they have?
What are they trying to do?

72. What needs do your customers have?
How can we help?

73. To multiply my customer base by 10, I can attract
them through _____________ .

74. What are the different ways we can make money?

75. CONGRUENCY
They need to make sense together.

76. do companies
need personal contact?

77. IS THE BUYING DECISION
TOO COMPLICATED?

78. do pop-ups work
for email products?

79. How are customers used to paying for what they
buy now?

80. When customers have this problem, or are
tackling this task, where do they seek help and
advice?

81. Which customers have different expectations
about service levels or relationship?

82. Are there customers at the low-end who would
pay less for lower performance?

83. How could we increase switching costs?

84. THE BIGGEST RISK FALLACY

86. Will people think of sending a gift from their
phone when there’s a gift-giving opportunity?

87. Who will trust GiftCannon?

88. Will people receive a gift over their mobile?

89. THE FASTEST LEARNING
!
!
!
THE BIGGEST RISK
or

90. Will people receive a gift over their text
message?

91. Will people receive a gift over their Facebook?

92. Send a gift with a link over email or Facebook.

93. Will recipients redeem their gift?

94. Will shops work with us to redeem gifts?

95. Will gift recipients stick around and start
sending gifts themselves?

96. ACTIONABLE INFO
AFFORDABLE LOSS

97. it’s tough to get critical mass in london.
so jordan moved the business to oxford to learn.

98. But will this work beyond students?

99. invest in info.
decide fast.
adapt frequently.

100. Founder
Centric
HERE TO HELP!
Salim Virani
salim@foundercentric.com
@SaintSal
!