Startups Getting Started - The Essential Startup Mindset and Journey
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In this idea talk I looked at how startups get started. Rather than assuming you're right, startup founders and entrepreneurs assume they're wrong and set out on a journey of value discovery.
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Startups Getting Started - The Essential Startup Mindset and Journey
- 2. © All Rights Reserved @JeremiahGardner STARTUP NARRATIVE got my logo & business cards this is gonna be huge! pitch, pitch, pitch gotta hire that CTO business plan of course I’m right eureka! an idea grandma loved it success! we’re a startup now
- 3. © All Rights Reserved @JeremiahGardner what is a startup? “A ‘startup’ is a company that is confused about - 1. What its product is. 2. Who its customers are. 3. How to make money.” ~ Dave McClure
- 4. © All Rights Reserved @JeremiahGardner 66% chance you’re wrong “Of the 26 companies that I consider realized, 17 of them made complete transformations or partial transformations of their businesses between the time we invested and the time we sold. That means there’s a 2/3 chance you’ll have to significantly reinvent your business…”~ Fred Wilson
- 5. © All Rights Reserved @JeremiahGardner FOUNDERS / IDEAS FOUNDER IDEA>
- 6. 3 THINGSGREAT FOUNDERS DO
- 7. FIND THE FLAMES Great founders are firefighters.
- 8. (paint job) (leaky roof) (the house is on fire!)
- 9. © All Rights Reserved @JeremiahGardner STARTUP MINDSET CAN WE BUILD IT? vs what can I do? what does the customer need? SHOULD WE BUILD IT?
- 10. © All Rights Reserved @JeremiahGardner empathy Personally experience your customers’ perspective Seeing what people really do, not just what they say. Understanding why people say what they say.
- 11. IDEA SEARCHING FOR A PROBLEM don’t be an
- 12. FAIL LEARN FAST Great founders are explorers.
- 13. © All Rights Reserved @JeremiahGardner search vs execute A startup inherently operates in the unknown. You can’t execute your way to value discovery.
- 14. © All Rights Reserved @JeremiahGardner STARTUP DEFINED STARTUP PAIN ELIMINATOR=
- 15. © All Rights Reserved @JeremiahGardner BUILD MEASURE LEARN FEEDBACK LOOP
- 17. FOLLOW THE EVIDENCE Great founders are detectives.
- 18. © All Rights Reserved @JeremiahGardner startup path • Identify assumptions • Run effective behavioral experiments testing assumptions • Make evidence-based decisions
- 19. © All Rights Reserved @JeremiahGardner HOW TO LEARN
- 21. © All Rights Reserved @JeremiahGardner REAL STARTUP JOURNEY empathy wow, I understand really!? another opportunity nope! hit a wall nope! hit a wall learn more! iterate big signal on the right path
- 22. © All Rights Reserved @JeremiahGardner ASSUME YOU’RE WRONG – TRIANGULATION
- 23. GOODBYE, OLD-SCHOOL BRANDING. HELLO, INNOVATION #TheLeanBrand @JeremiahGardner
- 24. @JeremiahGardner www.MovesTheNeedle.com jeremiah@movestheneedle.com We’ve advised the innovation practices of: www.JeremiahGardner.com •Author, The Lean Brand •Principal, Moves The Needle •Startup Mentor & Advisor •Enterprise Innovation Catalyst