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    IdeaToMVP StartupIgniters

    Uploaded by

    Sandeep Jaiswal
    The document provides a 7-stage process for taking an idea and turning it into a successful product or startup company. The stages include: 1) validating the idea, 2) prioritizing features, 3) getting feedback, 4) designing a concept, 5) starting product development, 6) packaging and releasing, and 7) continuing to build and potentially raise capital. Key steps outlined in the stages include understanding customers, building an MVP, acquiring users, and refining the product, business model, and strategy based on feedback. The overall message is that entrepreneurship requires iterating on an idea based on customer input to create business value.

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    IdeaToMVP StartupIgniters

    Uploaded by

    Sandeep Jaiswal
    100 views60 pages
    The document provides a 7-stage process for taking an idea and turning it into a successful product or startup company. The stages include: 1) validating the idea, 2) prioritizing features, 3) getting feedback, 4) designing a concept, 5) starting product development, 6) packaging and releasing, and 7) continuing to build and potentially raise capital. Key steps outlined in the stages include understanding customers, building an MVP, acquiring users, and refining the product, business model, and strategy based on feedback. The overall message is that entrepreneurship requires iterating on an idea based on customer input to create business value.

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    IdeaToMVP-StartupIgniters

    Original Title

    IdeaToMVP-StartupIgniters

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    The document provides a 7-stage process for taking an idea and turning it into a successful product or startup company. The stages include: 1) validating the idea, 2) prioritizing features, 3) getting feedback, 4) designing a concept, 5) starting product development, 6) packaging and releasing, and 7) continuing to build and potentially raise capital. Key steps outlined in the stages include understanding customers, building an MVP, acquiring users, and refining the product, business model, and strategy based on feedback. The overall message is that entrepreneurship requires iterating on an idea based on customer input to create business value.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    100 views60 pages

    IdeaToMVP StartupIgniters

    Uploaded by

    Sandeep Jaiswal
    The document provides a 7-stage process for taking an idea and turning it into a successful product or startup company. The stages include: 1) validating the idea, 2) prioritizing features, 3) getting feedback, 4) designing a concept, 5) starting product development, 6) packaging and releasing, and 7) continuing to build and potentially raise capital. Key steps outlined in the stages include understanding customers, building an MVP, acquiring users, and refining the product, business model, and strategy based on feedback. The overall message is that entrepreneurship requires iterating on an idea based on customer input to create business value.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 60
    At a glance
    Powered by AI
    Some of the key takeaways are to validate your idea before building a product, understand your target customers, develop features instead of just ideas, and iterate based on customer feedback.

    The main stages discussed are idea validation, building an MVP, product development, customer acquisition, ongoing refinement, and raising capital. It emphasizes getting the right people, technology, and processes in place.

    The document discusses factors like clearly defining the problem being solved, researching competitors, getting feedback from potential customers, listing tangible benefits, and assessing market size and potential for profit.

    IDEA TO MVP!

    There are many a slips between the cup and the lips.

    Presenter: Tarun Gaur



    CEO, tringapps, Inc.
    You have an Idea!
    Where does it come from?
    Idea to Product
    Idea isn’t worth sh*t …
    … it’s the product that sells.
    Product to Market
    Products are sold to customers.
    Customers
    If you don’t know who is your customer,
    take your idea, roll it and …
    The Message
    What is in it for them?
    VALIDATE THE IDEA
    It is important to validate your idea before you invest
    time and energy into building a product.
    What problem are you
    trying to solve?
    If you can’t clearly state the problem your product or service solves,
    you may not have a successful idea!
    Have others tried to
    solve the same problem?
    Have they succeeded? or failed? Do you know why?
    What benefits does your
    idea provide?
    Can you list 3 tangible benefits for the customers?
    Have you tried converting
    your idea into features?
    Software is a collection of features, not ideas!
    Can your idea be easily
    copied?
    Are there other players who are similar or solve the same problem in a
    different way?
    Do you understand the
    market?
    How big is your market? Who will buy your idea?
    Have you reached out to
    your potential customers?
    Have you tried to get some feedback from your potential customers?
    Can you build the
    product?
    Do you need help? What kind of help?
    Are you a lone wolf or
    you have a team?
    Teams that are funded, 82% of startups have 2 co-founders and an
    average team size of 4 people
    Why should the investor
    invest in your idea?
    Can your idea make money?
    YOU NEED A PLAN
    Let’s assume Your idea is powerful,
    You have validated it and have decided
    to take the plunge!
    Plan to get all ducks in a row!

    People
    Technology
    Idea

    Process
    Get the right people on your startup bus!

    People
    Idea
    Choose the right technology, validate with experts

    Technology
    Idea
    Startups have nimble processes; first things first!

    Idea

    Process
    WHAT DO YOU SELL?
    Startups sell something!
    What does your startup sell?

    A Product A Solution A Service


    Let’s say your startup sells a product

    Define Develop Gotta


    the the damn support your
    product thing sh*t

    Product Product Product


    Definition Development Support
    STAGE 1
    Idea to a Feature List
    A Software is a collection of features!

    Idea Features
    Scratchpads, Personas,
    Napkins, Requirements,
    Mindmaps, Sketches,
    Hazy Wireframes,
    thoughts Visual Designs
    Don’t forget the personas!

    Personas help you


    understand your customers!
    You can use the empathy map to understand customer behavior
    The customer behavior

    Understanding your customer


    is what stands between your
    product and the market share
    STAGE 2
    Prioritize the feature list
    You are up against time!

    It is important
    to prioritize the feature list
    Understand the difference between must have, should have and nice to
    have features.
    Round 1: Impact Analysis on a feature

    • Empowers the customer


    • Enhances the experience
    • Will make money
    • Is a business or technology enabler
    • Is required for compliance
    Round 2: prioritize the personas

    If you know your customers, you


    can relate them to features.
    Relate each feature with a persona, you may be able to refine the
    feature list further!
    STAGE 3
    Get some test audience involved
    Encourage a debate

    Show your findings to a


    group of experts
    Share opinions, take feedback, conduct surveys
    STAGE 4
    Design a Concept or a prototype
    You may be good, but are you an entrepreneur?

    Go find a designer, if you are not


    one yourself; unless you are stoopid
    You need to convert the requirements into a tangible product, you need
    someone who can create a concept out of a storyline
    Get an awesome designer onboard

    • A Concept
    • The Wireframes
    • A Visual Design
    • Typography
    • A Prototype
    Hmm .. maybe you can raise money here

    You have a product concept in place.


    You have hit a major milestone!
    This is where startup accelerators, angel investors, seed funds may
    consider investing in you if they see a serious team in place!
    STAGE 5: TECH
    Start product development
    Work buckets of related features

    Decide the product release


    model early on, and stick to it!
    Do not hesitate to release half baked work to your test audience.
    Getting feedback early and regularly is very important.
    Don’t forget the server side!

    Go with the cloud!


    You don’t want to be in a position where your product fails because it
    can’t scale.
    Don’t forget the server side!

    • Secure by default
    • OAuth: Get the Subscriber information
    • Know your data
    • Earn the trust badges
    • Analytics should not be an afterthought
    STAGE 5: BIZ
    Customer Acquisition Strategy
    Entrepreneur wears multiple hats

    Think customer
    acquisition early on!
    This helps you refine your message and pivot on features
    Build vs Buy

    Your core product is 



    in development!
    You need value added services to augment your core product. Start
    making choices and think - build vs buy
    STAGE 6: TECH
    Package and Release
    The distribution channels

    You have to package the


    product, go live!
    Technical LAUNCH CHECKLISTS help.
    If you have launched successfully

    You have a product!


    Is it an MVP? Thats a different question!
    STAGE 6: BIZ
    Lifetime value of the customer
    Forget the MVP

    Engage, Engage, Engage


    Focus on acquiring the customer, hopefully you already have a
    strategy in place.
    Minimum Viable Product

    The customer decides if you have


    a minimum viable product or not.
    Understanding early adopters, hence the term - minimum viable
    product
    Lifetime value of a customer

    Your product may be free today, but


    at some stage you have to monetize.
    The Investors will ask how many of them you have got, how often do they
    come to you? How many dollars can you earn from each one of them?
    STAGE 7
    Keep building, Raise Capital
    Keep building

    • You are an entrepreneur, your job is to build a


    business, not an MVP
    • Refine your product
    • Refine your business model
    • Refine your go to market strategy
    • Pivot where ever required
    What do VCs look for?

    • A good technical team


    • Some management experience (optional)
    • Market opportunity
    • Number of subscribers
    • An exit strategy
    Tips for raising money

    • Raising money is 6 month exercise


    • Get introductions
    • Refine your pitch
    • Don’t go to random VCs
    • Look for smart money
    INDIA STARTUP IGNITERS
    We need YOU to participate, let’s
    collectively help fellow entrepreneurs
    to build cool startups!
    India Startup Igniters

    Call for help! meetups.


    Soon you will see meetups titled, Call for Help!
    QUESTIONS

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