Monday, December 17, 2012

A Startup In Images

What do you do?  Do the build-measure-learn loop, or in the words of Pearl Jam, "Do the evolution, baby!"

from Eric Ries.  Define an idea.  Build something to test your idea.  Measure customer responses.  Modify your idea based on what you learned.  Repeat the process.  The faster you move through the loop, the more your learn, the more likely you're idea will succeed.

What do you measure?  AAARR!, short for pirate metrics for web/mobile startups, which is short for acquisition, activation, retention, revenue, referral.

From Dave McClure.  This is pretty self-sufficient except for activation which is a happy and positive first experience with a product or service.  First impressions are pretty important.

How do you get to startup Nirvana?  Four steps (to the epiphany)

From Steve Blank.  Take a set of hypotheses about your business and turn them into facts by interviewing, presenting to, demoing to, and, in general, getting intimate with customers.  WARNING: startup founders will be first fired in the execution phase because they're not genetically programmed to execute.

How do you represent your hypotheses?  As a business model.

From Alexander Osterwalder.  A de facto standard for representing a business model is in terms of the nine concepts on the above graphic.

No comments:

Post a Comment