3. Minimum Viable Product
β’ Features to see if something will work.
β’ Building a product that people will use and
pay for.
β’ Not to see if the product can be built in terms
of technical feasibility.
β’ Days worth of work, not weeks or months.
4. Traction
β’ A measurable set of customers or users that
serves to prove that your startup is "going
places."
10. Approach by Market Type
β’ Existing Market
β’ New Market
β’ Cloned Market
β’ Niche Market
11. Existing Market
β’ Tested Idea
β’ Existing Market
β’ High Risk
β’ Tough Competition
Examples:
β POS, Inventory
β CRM, ERP
β Social Networking
β Notetaking
12. Existing Market
Goal: Displace the #1 or disrupt the market
Steps:
1. Identify Unfair Advantage
2. Look for advocates / partners
3. Create Prototype
4. Presell the solution, test the market
5. Build the dream team or outsource partner
6. Sell the solution
13. New Market
β’ Untested Idea
β’ New Market
β’ No/Low Competition
β’ High Risk
Examples:
β’ Not possible by definition ο
14. New Market
Goal: Develop the new market
Steps:
1. Build landing page, vids, ads, etc.
2. Talk to domain experts
3. Test the market
4. Build the dream team or technical partner
5. Develop the MVP
6. Teach the market and gain traction
7. Maintain your leadership
15. Clone Market
β’ Tested Idea
β’ Localized Market
β’ Low Competition
β’ High Risk
Examples:
β eCommerce, Buy and Sell
β Crowdsourcing, Microtasking
16. Clone Market
Goal: Dominate the Local Market
Step:
1. Validate the local market
2. Check competition
3. Look for existing solution
β Clone scripts
β Commercial software
β Whitelabels
4. Customize
5. Sell
17. Niche Market
β’ Tested or Untested Idea
β’ Domain Expertise
β’ Low Risk
β’ Low Competition
Examples:
β Relocation Software
β Sports Betting
β Insurance Software
β Legal Research
28. Thank You
Allan C. Tan, SCEA, PMP
CEO/President
Email: allan@ideyatech.com
http://www.ideyatech.com/
allanctan
@allanctan ph.linkedin.com/in/allanctan/