24. What does your startup sell?
A Product A Solution A Service
25. Let’s say your startup sells a product
Define
the
product
Develop
the damn
thing
Gotta
support your
sh*t
Product
Definition
Product
Development
Product
Support
27. A Software is a collection of features!
Idea Features
Scratchpads,
Napkins,
Mindmaps,
Hazy
thoughts
Personas,
Requirements,
Sketches,
Wireframes,
Visual Designs
28. Don’t forget the personas!
You can use the empathy map to understand customer behavior
Personas help you
understand your customers!
31. You are up against time!
Understand the difference between must have, should have and nice to
have features.
It is important
to prioritize the feature list
32. Round 1: Impact Analysis on a feature
• Empowers the customer
• Enhances the experience
• Will make money
• Is a business or technology enabler
• Is required for compliance
33. Round 2: prioritize the personas
Relate each feature with a persona, you may be able to refine the
feature list further!
If you know your customers, you
can relate them to features.
37. You may be good, but are you an entrepreneur?
You need to convert the requirements into a tangible product, you need
someone who can create a concept out of a storyline
Go find a designer, if you are not
one yourself; unless you are stoopid
38. Get an awesome designer onboard
• A Concept
• The Wireframes
• A Visual Design
• Typography
• A Prototype
39. Hmm .. maybe you can raise money here
This is where startup accelerators, angel investors, seed funds may
consider investing in you if they see a serious team in place!
You have a product concept in place.
You have hit a major milestone!
41. Work buckets of related features
Do not hesitate to release half baked work to your test audience.
Getting feedback early and regularly is very important.
Decide the product release
model early on, and stick to it!
42. Don’t forget the server side!
You don’t want to be in a position where your product fails because it
can’t scale.
Go with the cloud!
43. Don’t forget the server side!
• Secure by default
• OAuth: Get the Subscriber information
• Know your data
• Earn the trust badges
• Analytics should not be an afterthought
45. Entrepreneur wears multiple hats
This helps you refine your message and pivot on features
Think customer
acquisition early on!
46. Build vs Buy
You need value added services to augment your core product. Start
making choices and think - build vs buy
Your core product is
in development!
51. Forget the MVP
Focus on acquiring the customer, hopefully you already have a
strategy in place.
Engage, Engage, Engage
52. Minimum Viable Product
Understanding early adopters, hence the term - minimum viable
product
The customer decides if you have
a minimum viable product or not.
53. Lifetime value of a customer
The Investors will ask how many of them you have got, how often do they
come to you? How many dollars can you earn from each one of them?
Your product may be free today, but
at some stage you have to monetize.
55. Keep building
• You are an entrepreneur, your job is to build a
business, not an MVP
• Refine your product
• Refine your business model
• Refine your go to market strategy
• Pivot where ever required
56. What do VCs look for?
• A good technical team
• Some management experience (optional)
• Market opportunity
• Number of subscribers
• An exit strategy
57. Tips for raising money
• Raising money is 6 month exercise
• Get introductions
• Refine your pitch
• Don’t go to random VCs
• Look for smart money
58. INDIA STARTUP IGNITERS
We need YOU to participate, let’s
collectively help fellow entrepreneurs
to build cool startups!