5/23/2018 8:18 PM © Microsoft Corporation. All rights reserved. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

Kako pokrenuti Start-up 5/23/2018 8:18 PM Kako pokrenuti Start-up Andrej Radinger Microsoft MVP andrej@mogy.me Mogy © Microsoft Corporation. All rights reserved. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

5/23/2018 8:18 PM © Microsoft Corporation. All rights reserved. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

5/23/2018 8:18 PM © Microsoft Corporation. All rights reserved. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.

Right? What is a startup? Startup = Experiment Ask: Who’s got or had a startup in here? Right?

What is a startup? A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainity Ask: Who’s got or had a startup in here? Right?

What does a successful startup need? A great idea Good timing A rocking team VC capital and lots of hard work (and time) Ask: Who’s got or had a startup in here? Right?

Enter the lean startup

The principles Entrepreneurs are everywhere Entrepreneurship is management Validated learning Build-measure-learn Innovation accounting

Traditional management Set exact targets based on experience and existing clients. Plan and execute accordingly. Successful execution of a plan that leads to nowhere. School: Waterfall, maybe Agile

Traditional management Clearly does not work for startups. “Let’s just do it” is adopted. No management does not work either.

Build – measure – learn feedback loop Idea Build Product Measure Data Learn

First: a reality check Idea! Does your customer have the problem that you are trying to solve? Will they pay for it? Will they pay YOU for it? Can you build the solution for that problem? Often people go directly from 1 to 5

Try to sell the product before you build it (It’s not the same as asking customers what they want.) Kickstarter!

Build – measure – learn feedback loop Idea Build Product Measure Data Learn

MVP (minimum viable product) Skimp on features not on quality. Remove any feature, process or effort that does not contribute to the “test”. Loop back to the IMVU story This would have saved him!

NOBODY is going to steal your idea And if they can execute your idea quicker and better than you, you’re in trouble anyway. 5% Idea and 95% Execution

Build – measure – learn feedback loop Idea Build Product Measure Data Learn Measure: Clear cause and effect

Quantitative learning You can always justify failure as part of the learning experience, but that's a bit cheap…. Use experiments, not market research. Tell the Zappos Story Got pictures from a local store And then just got all the shoes from the store

Dave McClure’s pirate metrics (AARRR) Dave McClure is an entrepreneur/angel investor and founder of 500 startups

Pivot? Don’t give up too quickly. But don’t try to ride a dead horse either. Listen to customer feedback! And adding more services to the wrong idea is not the answer. Zoom in Zoom out Customer segment Customer need Technology??? Geox

Results Hypothesis Validated learning Details Next action Background What are you trying to achieve? Results Enter your qualitative/ quantitative data Hypothesis [Specific repeatable action] will [Expected measurable outcome] Validated learning What did you learn?  Validated or not Lean Startup Experiment Report or Score Card Details How will you setup this experiment? Next action What is your next experiment?

Accelerate Idea Build Product Measure Data Learn

Grow & adapt Make sure the paid acquisition is not higher than the customer lifetime value. Eventually your business should grow faster than the build-measure-learn feedback can loop.

Startup excuses I have no idea I have no money I’m not a developer I need a logo first

Forget about the million dollar idea Just start something. Anything. Kickstarter!

Chance to survive less than Idea Everyone has about 10.000 ideas per day Chance to survive less than 0,0000000000000000001%  Startup is born Members of the team, families, friends and angel investors invest some money. They are believers. 8 of 10 never join pre-accelerator or accelerator programme. Chance to survive: 10% Accelerator First proof. First „non-angel“ investement and education. 40% First venture capital 100k to 200k, not more than 500k in first 3 to 12 month. 50% Accelerators in London, Amsterdam, Berlin, Sillicon Valley... 75% SeedCamp participants receive 1-4 million $ investition. Chance to survive 75%

Done is better than perfect!!

Microsoft BizSpark For startups not older than 3 years MSDN Benefits BizSpark Plus $10k/month of Azure Lasts for 3 years Microsoft Ventures https://www.microsoft.com/bizspark

5/23/2018 8:18 PM © Microsoft Corporation. All rights reserved. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS PRESENTATION.