A presentation for Universitas Kristen Petra alumni gathering (Electrical Engineering major) on how to start a successful online business. -- dated May 6, 2017

1. 1010steps
TO START A
@epramono @epramono
SUCCESSFULSUCCESSFUL
ONLINE BUSINESS

2. 1 KNOW WHAT MAKES
A BUSINESS SUCCESSFUL

3. • You save your customer’s time
• You save your customer’s money
• You allow your customer to make
more money
3 CHARACTERISTICS OF
A SUCCESSFUL BUSINESS

4. 2 FIND YOUR INTENDED
AUDIENCE

5. You don’t find customers for your
products. You find products for
your customers.
- Seth Godin

6. 3
CHOOSE AND
ON ONE INDUSTRY WHERE
YOU EXCEL MOST
FOCUS

7. Self-aware. Stay in your lane.
Bet on your strengths, and ignore
your weaknesses.
- Gary Vaynerchuk

8. • Software-as-a-Service (SaaS)
• General Purpose Websites/Blogs
• Social Websites (Forum, Q&A)
• Online Shopping
• Internet TV
• Mobile Apps
• Portal/News Websites
7 MOST SUCCESSFUL
ONLINE BUSINESSES

9. People think focus means saying yes to the
thing you've got to focus on. But that's not
what it means at all. It means saying no to the
hundred other good ideas that there are. You
have to pick carefully.
- Steve Jobs

10. 4 MAKE SOMETHING THE AUDIENCE
IN YOUR INDUSTRY WANT

11. Without money moving from one
person to another, there is no
business. A successful business
requires a paying customer.

12. • Advertising
• Premium Membership
• Public Donation
• E-commerce
• SaaS
• Transaction Fees
• Physical/Virtual Products
7 ONLINE
REVENUE MODELS

13. Life is too short to build
something nobody wants.
- Ash Maurya

14. PROBLEM/SOLUTION FIT
MILESTONE 1

15. What you need to know to succeed in a
startup is not expertise in startups, what
you need is expertise in your own users.
- Paul Graham

16. TOOLS: EMPATHY MAP

17. • Not enough customer interviews
• Customer problem/need/pain is not
validated
• The pain is ranked too low in the
customer’s perspective
TOP 3 MISTAKES

18. TOOLS: CARD SORTING

19. The art of being a great entrepreneur
is finding the right balance between
vision and reality.
- Giff Constable

20. 5
ACHIEVE YOUR
MINIMUM VIABLE
AUDIENCE

21. Our goal is to find a homogenous group of
target end-users/customers who experience
a similar problem, and who would pay
similar amounts of money for the solution.

22. • Start with one early adopter
• Talk individually to each early adopter
• Learn from them
• Don’t build your business based on assumptions
FINDING YOUR AUDIENCE

23. CONCEPT: EVANGELISTS

24. CONCEPT: CROSSING THE CHASM

25. 6
CREATE YOUR
MINIMUM VIABLE
PRODUCT

26. TOOLS: VALUE PROPOSITION CANVAS

27. CONCEPT: MINIMUM VIABLE PRODUCT

28. When Sergey and I founded Google, we
hoped, but did not expect, it would reach its
current size and influence. Our intense and
enduring interest was to objectively help
people find information efficiently.
- Larry Page
GOOGLE: 1996

29. We’ve had three big ideas at Amazon that
we’ve stuck with for 18 years, and they’re
the reason we’re successful: Put the
customer first. Invent. And be patient.
- Jeff Bezos
AMAZON: 1999

30. I’m here to build something for the
long-term. Anything else is a
distraction.
- Mark Zuckerberg
FACEBOOK: 2004

31. 7 BUILD, MEASURE, LEARN,
EVOLVE, ITERATE

32. CONCEPT: LEAN STARTUP

33. By testing, each failed hypothesis leads to a new pivot,
where we change just one element of the business
plan (customer segment, feature set, or positioning) --
but don't abandon everything we've learned.
- Eric Ries

34. As you start building the
product, don’t assume that you
know all the answers. Listen to
the community and adapt.
- Chad Hurley
YOUTUBE: 2005

35. MILESTONE 2
PRODUCT/MARKET FIT

36. A startup is a human institution designed to create
a new product or service under conditions of
extreme uncertainty.
A lean startup is a startup that continuously work
to eliminate any uncertainty.

37. 8 CREATE YOUR
BUSINESS MODEL

38. No business plan survives the first
contact with customers.
- Steve Blank

39. TOOLS: BUSINESS MODEL CANVAS

40. CONCEPT:
BUSINESS MODEL FIRST,
BUSINESS PLAN LATER

41. 9
ACHIEVE YOUR
MINIMUM VIABLE
INCOME

42. • Calculate and reduce your operating expenses to
bare minimum
• Be creative and make adjustments
• Win people in your network — one at a time
• Always ask for referrals
• Explore possibilities for other revenue models
ACHIEVING NET OPERATING PROFIT

43. MILESTONE 3
BUSINESS MODEL FIT

44. FOCUS ON SPEED, GROWTH,
AND SCALE10

45. • Stay profitable
• Ensure repeatability
• Aim for scalability
3 GOALS IN BUSINESS

46. 63% of small business owners feel
overwhelmed with the number of
technologies available to run their business.

48. 1010steps
TO START A
@epramono @epramono
SUCCESSFULSUCCESSFUL
ONLINE BUSINESS