2. About Mentors
Joel Espelien Dave Parker
• Entrepreneur & Founder • Director, Seattle Founder Institute
• VP Strategy & General Counsel for • Entrepreneur
Packet Video • Board Member Guidant Financial
• Mentor for Tech Stars and • Former Board Member
Founder’s Co-op Classmates.com
3. Agenda:
• Week 1- Big Ideas/Markets/Problems
– Introductions
– Market
– Problems
– Ideas
– Q&A
– Working Groups
– Homework
4. Weekly Format
• 6:30 – Food/beverages
• 6:45 – Introduction to topics & mentors
• 7:00 – Content 1
• 7:30 – Content 2
• 8:00 – Q&A
• 8:25 – Break
• 8:45 - Working Groups
• 9:15 – Home work
5. • Big Ideas – Big Markets – Big Problems
– With Joel Espelien
• Venture Ready Research, Target Markets & Models
– With David Bluhm
• Validating your idea: tools and methods
– With Justin Wilcox
• Communicating your idea (without getting lost in the
details)
– With Joanna Lord
7. #SEFI
@Founding
So You Have a Startup Idea?
Joel Espelien - @EspelienJB
Dave Parker - @DaveParkerSEA
8. Ground Rules:
• Don’t be afraid to share your idea!
• Ideas don’t matter – feedback, execution and
iteration do
• You have more to gain than to lose
• Nobody is going to steal your idea
• Don’t ask an Investor to sign your NDA
15. Big Markets?
• Is the Market in Billions?
• Specific Opportunity for VC >$100M
• If you own the market how big would
your be
• Market Leader vs. First Mover
• Known or unknown
16. Big Ideas?
• Changes the world • Changes a market
• Simple • Complex
• “Aha” idea • Feature or tool
• Transformational • Incremental
17. Big Problems
• Pain Pill? Have to have it
• Vitamin? Nice to have
• Who wins if you win?
• Do they “win big” or “save a little”?
18. It’s takes as long
to build a small
idea as big idea
19. • Passion! • Doesn’t make it a
great business
• Ideas! • Execution
• Product • Company
21. Idealibs for Startups
I want to develop (a defined offering)
to help (a target audience)
(solve a problem)
(with secret sauce)
22. The Offering
• Be Specific
– “a social utility" vs "an ecommerce website"
• Avoid Buzzwords
– "mobile social CRM" vs "an iPhone application"
• Skip the Adjectives and Superlatives
– "a revolutionary service" vs "backend software"
23. The Audience
• Identify Demographics
– "female consumers" vs ”new mothers"
• Specify Your Market
– "artists and musicians" vs "unsigned alternative bands"
• Clarify the Buyer
– "large businesses" vs "purchasing managers at
multinational companies"
24. The Problem
• Make sure everyone can understand the offering.
• Hint at a viable revenue model.
– "find deals online" vs "shop for hip baby products at
wholesale prices"
25. The Secret Sauce
• Explain what makes your business unique.
– "faster" vs "with automated ordering for diapers and other
staples”
29. 7 Rules
1. Simple ideas win
2. You have one revenue stream
3. Name your customer
4. Make something explainable
5. Small markets suck
6. Mix in secret sauce
7. Be original
30. Contact Info
• Dave Parker – Dave@dkparker.com
@DaveParkerSEA
• Joel Espelien – joelbespelien@gmail.com
@EspelienJB
• Daniel Rossi – DRossi@nwen.org
@nwen-org
• Caitlin Goetze – Cgoetze@nwen.org