Society3 Business Accelerator

Society3 Accelerator
Welcome
#Society3
Day 1

2© Copyright Society3 Refugee Accelerator 2016
#Society3
Presenter
Axel Schultze
Founder, CEO
Society3 Group
DR. Joerg Jaecks
Laywer,
Raue LLP
Remi Elias Mekki
CEO & Co-Founder
MigrantHire
Marita Roebkes
CoFounder
Society3 Group
Bettina Vossberg
Founder
HighTech Startbahn

#Society3
Hard to not succeed
When you exactly know
what you really love, the
VISION of it’s outcome will
mature rather quickly
Then find people who may
love what you do – find your
audience
You will find yourself
becoming of great value for
at least parts of our society
How can you fail?

#Society3
Accelerator Objective
Learn all about
Entrepreneurship & Team building and society
The legal framework for your own business
Developing your company purpose
Developing your own company culture
Ability to define your target audience
Business model development
Ability to achieve product market fit
Creating a go-to-market strategy
Getting your customer base
Financing your business growth

#Society3
Silicon Valley Advantage
True Innovation
Teams learned to disrupt - not only improve
Massive Growth
Leveraging online networks like no one else
Getting attention online versus old PR
Learning & Sharing Capabilities
Listen, learn, iterate and adjust
Leaders in ‘Time to market’
Products are hardened in markets not labs

#Society3

#Society3
Have co-founders and look for people who
augment your weakness - not those who are
like you
Listen to your gut - you will need to fully trust
them
Build a dream team, that builds a dream team
beneth them and with it an amazing company
culture
Create the best possible team

#Society3
Most important leadership
quality
Relentless Execution
This first requires “Product Market Fit” - execution
You need to have a great online presence - execution
You & team connect with people daily - execution
You will want to grow every day - execution
You need a team that is able to deliver - execution

#Society3

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LegalRequirements

#Society3

#Society3
Successful company's
visions
Nasa / JFK: Bringing a man to the moon and safely back
Ford: Democratize the automobile
Microsoft: A computer on every desk, in every home
Google: Organizing the world's information
Computer2000: Changing distribution to indirect only
Uber: Click a button, get a ride
Zappos: The online shop with the best service
Society3: Financing marketplace for the world's innovation
Exam
ple

#Society3
Who will you
make happy?
What's your vision?
You are in business to...
The problem you are solving is...
The uniqueness about your business is...
Over time you will become...
With that in mind create a company culture

#Society3
company purpose?

#Society3

#Society3
Company Culture
Zappos: A trainee get's $2000 when they quit
Facebook: Outdoor meeting areas, lots of free food
Infinigate: New team candidates get onto the gray couch
celebrating success and growth
Exam
ple

#Society3
What kind of company
do you want to be
Highly professional always accurate
Very casual and easy going
Strong leadership with clear job descriptions
Flat hierarchy empowering people with unique skills
Your company culture will become what
clients will call customer experience

#Society3

#Society3
Defineyourtargetaudience

#Society3
BlueRoads
Companies bigger than 200 employees
Having a product that ideally sells through reseller
Average product price less than $10,000
No particular direct sales affinity
More than 100 reseller established
Exam
ple

#Society3
Define the smallest possible target market
Precisely what types of people are you looking for
Think of ordinary users, media, technologists…
Target audience =
People you proactively go after
You still will welcome everybody else
Categories can’t speak – Tom Black can
Create a list of 500+ people you want to have

#Society3
500 People with access to 2,000 others = 1 Million
It’s always about tools & techniques
Search Twitter for hashtags #bikes, #gourmet, #cars...
Look for groups on LinkedIn
Use Facebook Search “My friends who like car racing”
Look for influencer (large networks)
Look who they follow (but be selective)
Look for talkative people (blogger, active on Twitter)

#Society3

#Society3
Craftingyourbusinessmodel

#Society3
UBER
It's just a mobile app
Has a complete business process
No cars, no drivers
Exam
ple

#Society3
Computer
2000
Competing with 5,000 x bigger distributors
No direct business - dealer only
Product manager for each line
Exam
ple

#Society3
Computer companies you cannot buy from
Book stores you can read books for free
Taxi company with no taxies, no drivers
Vacation rentals with no real estate
Software companies who don't sell software
Car manufacturers but you can't by their cars
Telcos who don't have any equipment
Restaurants that have no cook and no food
Disruption

#Society3
How do you do
your business
How do you price your products
How do you charge your customers
How do you deliver your products
How do you compose your offerings
What vendors are part of the offering
What providers do you involve
What is the service offering

#Society3

#Society3
Success Secret

#Society3
Winning against any size company
Customers would switch to more
agile, friendly, transparent
businesses anytime.
Building trust and a good reputation
fast with a clear business idea, a
great team, a friendly and open
culture and a disruptive business
model - forces companies of any size
to their knees and respond.
You NEED companies copying you
and follow you to become a market
leader.

#Society3
Giving back
Follow us
Twitter: Facebook, LinkedIn
@Society3Grp fb.com/society3 Linkedin.com/company/society3
@AxelS
@MaritaR
Write a review
LinkedIn group: https://www.linkedin.com/groups/60559
Facebook group: https://www.facebook.com/groups/gotostartups/
Join the online community:
http://society3.com/fundersmart
Follow and share

Society3 Accelerator
How are you?
#Society3
Day 2

#Society3
ProductMarketFit

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BlueRoads
Is the lead distribution process with BlueRoads
saving a technology vendor time and money?
Can an untrained reseller in a small town use
the product without training
Can lead data be uploaded from any
spreadsheet like right at an exhibition
Do we support our vision with the product we
offer
Exam
ple

#Society3
The market always wins
Let the market be part of the development
Get the product out at prototype level
Let alpha users on it early (3-6 month)
Get to Beta 2 to 4 month later
Make your beta users to heroes
Have a structured way to get feedback
Maximum transparency (known issues)

#Society3
Get out early
Set the stage
Be amazingly transparent and honest
Be amazingly engaged with your early users
Alpha | Closed Beta 1,2,3 | Public Beta | V 1.01

#Society3
Why should I use
your product?
Make it very clear what your product does
Tell the real story
Don’t be the XXX for NNN – be YOU
What’s the expected result for the user
Start with the registration button:
Start “influencing”, start “sharing your mood”,
start “inviting artists”, start…
Nomen est omen – It’s all in the name

#Society3
Be super sensitive to user
experience - no matter what
business you are in
Set very clear expectations (Zero BS)
Help change behavior (gamification)
Provide 60/90 sec tutorials
Tell the compelling difference

#Society3
Understanding & managing a large
and diverse user base
Track all actions such as
Register, login, start a feature, perform an action,
review a report, load any page…
Decide what behavior you want to drive
Give points the moment you log an action
List the points for each user
Show it on the dashboard and during actions
Make it publicly a big deal and recognize
leaders, super users, supporter…

#Society3
Easy products – less support
Invest time in an easy to use product instead
of extensive support measures
Build a users group early on !!!
Let your super users help with support

#Society3
User Engagement
Be overly transparent with your initial user
A buggy product can create a positive and
added level of ownership
Make sure you have a way to gather feedback
in a methodical way
(i.e. UserVoice.com)
Listen, react, iterate
Know how users feel if you shut down

#Society3
Five Product Market Fit Metrics
65%+ of the users you are addressing are
using the product at least weekly if not daily
for at least three month
More than 40% of users would be
disappointed if you take it away
You receive written feedback and suggestions
for improvement from 5%+ of the early
adopters.
You see 10% of your current users begin
recommending it to others
You have positive confirmation from 10 rather
conservative late stage users that they may
want it if it is ready

#Society3
No trying
No gambling
Is it crystal clear what you have to offer?
Is it clear what is not working yet?
Do you have simple and public pricing?
Is it super easy to buy and pay?
Is your after sales support defined?
Can user provide feedback?

#Society3
on YOUR product

#Society3

#Society3
GoToMarketStrategy

#Society3
Infinigate
The Internet eliminates the middleman - not
Getting 25+ product lines from top vendors
Creating non technical product descriptions
Touring from reseller to reseller
Providing end user marketing to create a pull
through to resellers with the 'Inliner'
Build a pan Europen presence fast
Exam
ple

#Society3
You can’t talk to a million people
But you can ask 1000 to talk to 1000

#Society3
Your Target Audience
Are People

#Society3
San Francisco, CA + 1 (650) 384-0057
Cannes, France + 49 (30) 2023-8748
Society3 Group – http://Society3.com - http://XeeMe.com/Society3
© Copyright Society3 - 2012
Asking people
‘help spread the word’

#Society3
Go To Market
Develop a creative plan how you go to
your market
How do you engage with your target
audience?
How do you motivate them to help you and
how?
How to maximize public conversations
Create a market pull (not push)
Stimulate excited users to share their
experience
Turn the user voice into references
Ensure your online presence is inviting and
ready for conversations and engagement
Build a robust backend operation
Make it easy to BUY and PAY
Bring the public dialog to your target audience

#Society3
Go To Market Strategy List
2016 GOAL:
Key marketing goal you want to achieve by end of 2016
THE MARKET
What’s your market like, your role, your competition
GO TO MARKET
We go to market with a three prong approach
A - What are you going to do
B - What are you going to do
C - What are you going to do
SUPPORTER
Current customers…..
Associations…
Leverage those who can benefit from our success
ACTIONS
Creating… Building …. Making…
Social media engagement
A consistent and ongoing communication stream….
Resources by activity
Describe the details what you will do here and now.
REPORTING
Describe what KPIs you are going to focus on and how you can
measure them

#Society3

#Society3
Buildungacustomerbase

#Society3
Society3
Organizing attractive events
Provide valuable insights for startups
Attracting investors with an all new business
model with an unusual exit strategy
Building a European presence by being there
Exam
ple

#Society3
Having all ducks in a row?
Your vision is as clear as a video
Leadership team is assembled
Your company purpose and brand is defined
You know your very specific target audience
Your product is ready
You meet any legal requirements
Customers can register / visit you
Customers and users can provide feedback
You have your blog and online presence
You are going to set the stage as thought leader

#Society3
Talk to as many people as possible
Read your alerts on LinkedIn and Twitter daily
Read industry specific news / alerts
Search for new target audience users daily
Respond to relevat posts and comments
Speak to your target audience daily

#Society3
Your product is as good as your engineering skills
Your traction is as good as your networking skills
Build a large network of relevant people
Start with your first customers - talk to their friends
Touch base with every single one of them
Ensure all conversations are online / public
Be helpful, support THEM to be successful
Respond on all channels

#Society3
Moving off of email
eMail: “Dear Tom, just want to tell you, your product is
the best I’ve seen in a long time…
Twitter : wow, @Tom your product is the best I’ve seen
in a long time http://bit.ly/1afDg$ #lovebikes
Moving off of email by responding to messages online.
Twitter: Saw your email, here is the link to the XYZ event
#event #bike #ILNY
Nobody else can learn from email content
Nobody else can chime into an email conversation

#Society3
Review your online presence
Most important: Your Blog
The home of all your information, your brand
YouTube Channel
Best education channel you can get
SlideShare
Top content sharing for strategic and specific information
Twitter presence
The information heart beat
LinkedIn page
Your business journal
LinkedIn groups
Close group engagement – lead generation
Facebook page
Your promotion and engagement corner
Quora
Answer relevant questions

#Society3
Networking is a numbers game
If you have 100 followers on Twitter, who have
100 followers on average, your theoretic reach
is 10,000
If you have 10k followers with 10k follower on
average your theoretic reach is
100 Million

#Society3

#Society3
GrowthFinancing

#Society3
Infinigate
We wanted to win business partners and vendors
as customers
We decided to create an application where they
can register to by shares in our increase in capital
online
We raised $350,000 in pour seed round, $2
Million in A and $5 Million in B, and finally $10
Million in our C round.
Enough to grow to $300 Million in revenue today
Exam
ple

#Society3
Financial Planning & Funding
Plan what you need – not what you can get
Plan how much you need NOW
Understand how much you may need next
Think about the rounds to IPO
Think about how much you will need to give
Think about control of the company

#Society3
Investment Instruments & Options
Friends & Family
Revenue – Perks based crowd funding ***
Business Angels **
Equity crowd funding / online platforms **
Venture Capital *
Industry Investors *
*** always the best vehicle
** best for $250k - $1MM seed rounds
* best for $5MM+ A rounds and beyond

#Society3

#Society3
Success Secret

#Society3
The earlier you involve potential
customers, the better your
offering becomes! AND you get
references right from the
beginning.
There is ZERO chance to find
others sell your product or
service successfully until you
had great successes created
yourself.
Close your first 100 deals, create
revenue for 180 days before you
work with any kind of partner.
Winning business fast

#Society3
Accelerator Objective
We went through
Entrepreneurship, Team building and society
The legal framework for your own business
Developing your company purpose
Developing your own company culture
Ability to define your target audience
Business model development
Ability to achieve product market fit
Creating a go-to-market strategy
Getting your customer base
Financing your business growth

#Society3
Next stepsFive Next Steps
Sit down and work through the following key topics for yourself
Company purpose, Target market, Business model,
Product concept, Go-to-market strategy, financial plan
Find a co-founder buying into your vision
Look for a mentor !!!
Interview 23 potential customers, analyze the feedback
Achieve as much as humanly possible without an investor
Raise capital from knowledgable investors to grow
Raw Concept Co-Founders Mentor 23 Customers $$$

Startup
You Have a co-founder
You have a great business idea
Validation from 7 customers
You defined the following:
- Company purpose
- Target market
- Business model
- Product concept
- Go-to-market strategy
- A financial plan
My Mentorship
Concept review
Company vision solidification
Team composition
Board composition
Strategy and plan reviews
Product strategy coaching
Capitalization strategy
Go to market strategy
Fundraising process
Investor pitch coaching
Sales strategy development
Partnership strategies
Business model solidification

#Society3
Giving back
Follow us
Twitter: Facebook, LinkedIn
@Society3Grp fb.com/society3 Linkedin.com/company/society3
@AxelS
@MaritaR
Write a review
LinkedIn group: https://www.linkedin.com/groups/60559
Facebook group: https://www.facebook.com/groups/gotostartups/
Join the online community:
http://society3.com/fundersmart
Share the experience :)

#Society3
© 2016, Society3. all rights reserved. Feel free to share the presentation in unchanged form.
Society3 Group AG Luzern, Switzerland (+41) 41 511-2885 | San Francisco, CA | (415) 656-8700
+41 (41) 511-2885
society3.com/MaritaR
society3.com/AxelS
Society3.com
Online presences:
http://society3.com/social
Thank You...your financing marketplace for the world’s innovations

Society3 Business Accelerator

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