Think like a startup: 5 tests to optimize and grow your ideas
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Startups are unique in that they must grow under extreme uncertainty. Whether you are in a startup, a big brand or a small business, thinking like a startup can help you optimize and grow your ideas.
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Think like a startup: 5 tests to optimize and grow your ideas
- 2. On Thinking Different “ Life can be much broader once you discover one simple fact... Everything around you that you call life Was made by people that were no smarter than you... And you can change it, You can influence it, You can build your own things that other people can use. Once you learn that, you’ll never be the same again.” Source: Steve Jobs ESTEBAN CONTRERAS - SOCIALNERDIA
- 3. Globalization Technology ESTEBAN CONTRERAS - SOCIALNERDIA
- 4. Startups = Extreme Uncertainty 1) To build something great, you gotta START somewhere Former Dating Site Former Location App ESTEBAN CONTRERAS - SOCIALNERDIA
- 5. Startups = Extreme Uncertainty 1) To build something great, you gotta START somewhere Former Dating Site 2) Then, you must Former Location App GROW ESTEBAN CONTRERAS - SOCIALNERDIA
- 6. Growth Makes People Think of Marketing • Big-Budget Kind • Spammy Kind Expensive Annoying ( Unfortunately, Startups can’t afford either) ESTEBAN CONTRERAS - SOCIALNERDIA
- 7. Consumer Behavior Has Changed • The Old Buying Process See Ad Visit Store Ask Rep Pay $$$ Call Support Linear ESTEBAN CONTRERAS - SOCIALNERDIA
- 8. Consumer Behavior Has Changed • • The Old Buying Process The New Buying Process Tweet See Ad Visit Store Ask Rep Pay $$$ Call Support Follow Store Search Special Read Blog Linear Friend Link Vine Video Push Notif. Pay $$$ Read Mag Gift Card CheckIn Targete d TXT ??? FAQ Email Ordrb Refund Pay $$$ Loyalty Card Live Chat Browse Pin Info Graphic Mobile app Webina r Fb Sweeps Visit Store Watch Video Call Support Ask Friend Yelp Review eBook Spam Native Ad ESTEBAN CONTRERAS - SOCIALNERDIA
- 9. Think Like a Startup Tests to Optimize 5 & Grow Your Ideas !
- 10. http:// bit.ly / thinkstart
- 11. About Me • Director of Strategy @ Sprinklr • Founder @ Social Nerdia Consulting • Former Social Media Manager @ Samsung USA • Experience helping Fortune 100 companies • Advisor to early stage tech startups • Started career in Marketing + IT at 13 years old @ Torreblanca Corp • Originally from Guatemala - Lived in U.S. for 10 years - Now in Vancouver, BC
- 12. #1 The Fit Test
- 13. Does anyone want what you’re offering? ESTEBAN CONTRERAS - SOCIALNERDIA
- 14. What We Think We Should Be • Visionary Leaders • Super Teams • Cool Ideas • Incredible Resumes ESTEBAN CONTRERAS - SOCIALNERDIA
- 15. What We Think We Need To Have • Hype + Money + Other “If Only” Wish Lists ESTEBAN CONTRERAS - SOCIALNERDIA
- 16. What We Actually Need 1. Is there *really* a problem? ! 2. If there was a *good* solution, would people use / pay for it? ! 3. Can you *actually* build the solution? ESTEBAN CONTRERAS - SOCIALNERDIA
- 17. Disruptive Solutions > Disruptive Ideas • Fill a Gap Expensive and Packed Hotels • Fix a Broken Service Ineffective and Boring Taxis ESTEBAN CONTRERAS - SOCIALNERDIA
- 18. Takeaway If you are building something people don’t want or need, there’s no point in adding enhancements. ! Optimizing the wrong thing is futile. ! You don’t want to be a solution searching for a problem. "Make something people want.” - Paul Graham ESTEBAN CONTRERAS - SOCIALNERDIA
- 20. Have you done your homework? ESTEBAN CONTRERAS - SOCIALNERDIA
- 21. Get Real • Proof people want what you offer • Own Your Challenges ESTEBAN CONTRERAS - SOCIALNERDIA
- 22. Validate Your Beliefs • Know and Talk To Users / Customers • Make Data-Informed Decisions ! ESTEBAN CONTRERAS - SOCIALNERDIA
- 23. Measure Progress, Not Tasks • Have Clear Objectives & Key Results Sellers Marketplaces (Example) MAUs MRR # of Merchants Signed Up / City / Month # Monthly Active Users / City / Month $ Recurring Revenue / City / Month ESTEBAN CONTRERAS - SOCIALNERDIA
- 24. Prove Your Hypothesis Quickly OR Pivot “Zoom In” ! Pivot “The Lean Startup” by Eric Ries ESTEBAN CONTRERAS - SOCIALNERDIA
- 25. Takeaway Believe in yourself and what you are building, but test your faith to ensure you’re not kidding yourself. ! Measure progress and results, not just tasks. ! Make it a practice to be informed. " ! ! “If we’re not moving the drivers of our business model, we’re not making progress.” - Eric Ries ESTEBAN CONTRERAS - SOCIALNERDIA
- 27. Are you building something scalable? ESTEBAN CONTRERAS - SOCIALNERDIA
- 28. Prepare Yourself Start Traction Fit Accelerated Growth You got this! Run Forrest! Still running uphill, but you’ve been training :) Start running uphill here Woot. Keep going! ESTEBAN CONTRERAS - SOCIALNERDIA
- 29. Startups Are Marathons ESTEBAN CONTRERAS - SOCIALNERDIA
- 30. Keep Your Eye on the End Goal Connect Potential Couples ( End Goal for Dating Sites ) ( Dating Sites ) ESTEBAN CONTRERAS - SOCIALNERDIA
- 31. Move Strategically • Focus On Initial Target, Then Expand • Leverage Smart “Growth Hacking” Tactics “PS: I love you. Get your free e-mail at Hotmail” Ivy League San Francisco • Don’t Rely on Unsustainable “Viral” Systems NYC Dentists NOT “The Instagram of Video” Fortune 100 ESTEBAN CONTRERAS - SOCIALNERDIA
- 32. Takeaway To build something meaningful, it has to be sustainable in the long-term. ! Pace yourself because you’re running a marathon, not a sprint. ! " Don’t take short-cuts you will regret. “Seek negative feedback, particularly from friends.” - Elon Musk ESTEBAN CONTRERAS - SOCIALNERDIA
- 34. Are you pushing the envelope? ESTEBAN CONTRERAS - SOCIALNERDIA
- 35. Sharing is Caring • Do people care enough to share? ESTEBAN CONTRERAS - SOCIALNERDIA
- 36. Fight For It • • Add Value and Build a Legitimate Community It’s Ok To Fake It Till You Make It ESTEBAN CONTRERAS - SOCIALNERDIA
- 37. Create + Curate + Cultivate Awesomeness • Wise Paid Media If you can afford it! • Smart, Resourceful & Creative Content It shall not ESTEBAN CONTRERAS - SOCIALNERDIA
- 38. Have a Strong Message • Unique Point of View • Resonate Emotionally Facebook ! → Twitter !→ Pinterest !→ Soundcloud !→ Tumblr !→ Vine !→ Instagram !→ LinkedIn !→ Medium !→ Snapchat !→ 4Chan !→ Reddit → Whisper ! → NextDoor ! → Foursquare !→ Fitocracy! → General Assembly! → Yelp → ! Quora !→ Google+ !→ Makes me feel connected! Makes me feel informed! Makes me feel inspired! Makes me feel cool! Makes me feel entertained! Makes me feel creative! Makes me feel artistic! Makes me feel important! Makes me feel intelligent! Makes me feel silly! Makes me feel unique! Makes me feel valued! Makes me feel anonymous! Makes me feel neighbourly! Makes me feel active! Makes me feel fit! Makes me feel educated! Makes me feel aware! Makes me feel smart! Makes me feel different ESTEBAN CONTRERAS - SOCIALNERDIA
- 39. Headline Storytelling Trac%on:) ) ) Controversy:) )) ) New)Categories:) ) ) Ba5les:) ) ) Fund)Raising:) ) ) Milestones:) ESTEBAN CONTRERAS - SOCIALNERDIA
- 40. Takeaway Consistently and constantly tell shareable stories through your product, your words, your brand and your actions. " “Tricks of perception alone will not work... Anything you create actually has to be good.” - Alexis Ohanian ESTEBAN CONTRERAS - SOCIALNERDIA
- 42. Do you know your own strategy? ESTEBAN CONTRERAS - SOCIALNERDIA
- 43. Sticky One-Liner Airbnb is a community marketplace that helps people list, discover and book unique spaces all over the world, online or from a mobile phone. Example Format: ! My startup, (startup name), is developing (a defined offering) to help (a target audience) (solve a problem) (with a secret sauce).* * Founder’s Institute format ESTEBAN CONTRERAS - SOCIALNERDIA
- 44. Objectives-Based Strategy Example: Vision # Clients Vision Grand Vision • # MAUs a # Sales Goals Awareness & Advocacy Downloads & New Accounts Repeat Purchases & Retention Tactics Product + Experience Marketing + Sales PR + IR Product People Want Brand People Like Company People Trust Objectives Goals Tactics Objectives Infrastructure: Team + Skills + Technology Core Values + Mission ESTEBAN CONTRERAS - SOCIALNERDIA
- 45. Roadmap Priorities High Viability Example: Feature Mid- Term Feature Feature Feature Potential Quick-Win Short-Term Feature Low Impact Feature Feature Feature Long-Term Feature High Impact Feature Mid-Term Feature Feature Feature Low Viability ESTEBAN CONTRERAS - SOCIALNERDIA
- 46. Takeaway Have such a clear elevator pitch, strategy and roadmap that you can display these on a single slide. ! Focus. Iterate Frequently. Pursue the vision in the right order. " “Cut away everything that doesn’t matter to the success of your product.” - Kevin Systrom ESTEBAN CONTRERAS - SOCIALNERDIA
- 48. Are you ready for a global audience? ESTEBAN CONTRERAS - SOCIALNERDIA
- 49. How will you change the world? ESTEBAN CONTRERAS - SOCIALNERDIA
- 50. Q&A
- 51. let’s connect: ! www.socialnerdia.com www.estebancontreras.com ! tw/socialnerdia | fb/estebancontreras | slideshare/socialnerdia ! socialnerdia@gmail.com
- 52. fyi, I wrote a book: www.socialstatebook.com