Jan Kennedy, director of the Munich chapter of the Founder institute lead us through the choices and decisions that a would-be entrepreneur faces after having that idea.

1. Jan Kennedy
Director: Founder Institute
2014
http://fi.co
|
@founding

2. Globalizing
Silicon
Valley
A peek at Founder Institute…
http://fi.co
|
@founding

3. The Vision
To help launch
meaningful and enduring
technology companies

4. The Mission
Launch 1,000
companies per year…
Across 100 cities

5. An idea-stage
incubator that
helps
entrepreneurs
create meaningful
and enduring
technology
companies.
As featured in
Great
People
Expert
Training
Aligned
Incentives

6. IDEA
4 months
VIABLE BUSINESS

7. 42% Funded
90% Success Rate

8. SO YOU HAVE AN
IDEA
now what?
http://fi.co
|
@founding

9. 0. LOOK IN THE
MIRROR
http://fi.co
|
@founding

10. Do you have
Entrepreneurial
DNA?
“Ideas are worthless if you can’t
execute”

11. Gifted to do the same?

12. Job Interview: Guard Dog

13. GOOD TRAITS
1. High Fluid Intelligence (not IQ –
recognise patterns & adapt)
2. High Openness (curiosity to challenge
norms)
3. Moderate Agreeableness (flexibility)
4. Experience (increases until 40)

14. BAD TRAITS
1. Predatory Aggressiveness
2. Excuse Making
3. Deceit
4. Emotional Instability
5. Narcissism (vanity)

15. 1. IDEATE
Goal: Develop a set of strong ideas
http://fi.co
|
@founding

16. The Typical Process…
1. You see a great opportunity
2. You tell your mum & she tells you it’s
fantastic
3. You build the solution
You lose all your money!

17. 99.9% of ideas are bad!

28. 2. CUSTOMER
VALIDATION
Goal: Test your ideas with Research
http://fi.co
|
@founding

29. Who is
(going to be)
drinking your
wine?

30. Problem – Solution Fit
1. Oil is Bad
1. Electric Scooter
2. No Vespa
friends Educate
3. Not Sure
2. Trial Vespa
3. Rent then
Buy
1. Vespa Buyer
2. Difficult
Commute
2. Difficult
Commute
„skinny tie“
„tried my firends Vespa“
„not sure if I‘m a scooter person“

31. Interview & Observe Extreme
Users
Insights to
test…

32. Get Testing
Early Experiments
- Exploration (interview, observation, survey)
- Pitch (currency / real proof)
Later Experiments
- Concierge Service (manual execution)
- Prototype (minimal viable product)

34. 3. REVENUE
MODELS
Goal: chose an idea on financial merit
http://fi.co
|
@founding

35. Compare Revenue:
Streams
Barriers
Time
Steps
Drivers
Model

36. Know your Ideal Customer
for each Revenue Stream
Persona
Demographic
Preferences
Does it match your Value
Proposition?

38. Looks like you are…
Solving a real Problem
+ For real paying Customers
+ With a Viable Solution
= GOOD CHANCE OF MAKING
MONEY

39. Chose 1 idea and move past GO…

40. 5. NAMING &
POSITIONING
http://fi.co
|
@founding

41. 6. LEGAL
http://fi.co
|
@founding

42. 7. ADVISORS &
TEAM
http://fi.co
|
@founding

43. Recruit Advisors
Prep Team Roles to help
launch
Start Recruitment
Cash Vs Equity Compensation
Complete Alignment
Joe Abraham

44. 8. Product
Development
http://fi.co
|
@founding

45. Identify Assumptions to test
with an MVP:
Later Experiments
- Concierge Service (manual execution)
- Prototype (minimal viable product)
Consider Kickstarter Test for
physical products

46. Be current on competitor
offerings
Start Wireframing & Paper
Prototyping to get fast
feedback (Rapid
Experimentation)

47. Product Roadmap
Product Specification
What
Development Plan
How
When

48. 9. Sales Traction
http://fi.co
|
@founding

49. Launch
High Price
Get Referrals
Close first deal
Analyse conversion funnel
Refine & Sell More

50. 10. Branding +
Marketing
GOAL: Establish Market Credibility
http://fi.co
|
@founding

51. 11. Fundraising
Goal: Seed Capital / Loan
http://fi.co
|
@founding

52. My company, (company name)
is developing (a defined offering)
to help (a target audience)
(solve a problem)
(with secret sauce)
,

53. Investor Pitch Deck
Company Overview
What is the Problem & Opportunity?
Size?
Solution
How to deliver the solution
Benefits / Value of solution
Secret Sauce
Competitive Advantage
Competitor Matrix
Business Model
Financial Projections
Financial Requirements / Milestone
Summary
42% Funded
90% Success Rate

54. If all else fails…

55. QUESTIONS?
Idea to Viable Business
Jan.kennedy@founderinstitute.com