©LightCastle Partners 2014
LightCastle Startup Series
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©LightCastle Partners 2014
First GIST Meet Up
• Today’s Theme -
Why an innovative idea is important for a startup to be successful in future and how to start planning and execution based on the idea
• Resource Person: M Sazzad Hossain, AVP at LightCastle Partners
• LightCastle Partners (LCP) is an emerging market specialized business planning andintelligence firm. We provide Investment Advisory Services (market intel/industry due-diligence/business design) and the client base includes end clients like Mitsubishi, Generac,Asian Capital Advisors, Telenor, Starbucks, Care Inc., Swiss Contact Katalyst, Habitat forHumanity and top tier local corporates.
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©LightCastle Partners 2014
Outline
• What Helps You Reach Your Goal? – A U&I Idea
• Importance of a U&I Idea
• How Do I Come Up With a U&I Idea and Execute?
– Know Your Customer
– Structured Thinking
– Business Model
• Sustaining Your Venture
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©LightCastle Partners 2014
What Helps You Reach Your Goal? – A U&I Idea
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The Key Factors
• YOUR –
– Unwavering Passion
– Forward Looking Approach
– Inquisitiveness
– Time Management
– Networking Skill
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SecondaryFactors
PrimaryFactor IDEA
©LightCastle Partners 2014
The Primary Factor - Idea
• Your IDEA has to be U&I
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Unique Innovative
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Importance of a U&I Idea
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Why U&I?
• If your idea is neither unique nor innovative, YOU -
– Will not stand out in the crowd
– Will get very few positive responses from the Investors you have approached
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And,
– Customers will not find your product/service attractive
More importantly,
– Frustration will build up and you may even want to QUIT!!!
©LightCastle Partners 2014
Why U&I?
BUT,the burning question remains –
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Know Your Customer
Structured Thinking
Business Model
How do I come up with a U&I Idea and execute?
©LightCastle Partners 2014
KYC (Know Your Customer)
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Why – Who – How
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STP Model
Measurable
Profitable
Sustainable
Accessible
Feasible
Demographic
Geographic
Socio-economic
Psychographic
Position Map
- Product Level (Coke/Pepsi)
- Category Level (Cola/Coffee)
- Corporate Level (Toyota/Nissan)
- Industry Level (Car/Motor Cycle)
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Position Map
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Structured Thinking
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Structured Thinking
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Brainstorming – Quality from Quantity
PROBLEM IDENTIFICATION
SET GOALS
COMPILE IDEAS
CATEGORIZE IDEAS
FILTER IDEAS
REFINE/MODIFY IDEAS
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The Filtering Model
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EVOLUTIONARY REVOLUTIONARY
SIMPLE
COMPLEX
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Business Model
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Business Model Canvas
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Business Model
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Sustaining Your Venture
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Lean Startup Concept
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Build the Minimum Viability Prototype (MVP)
Test the MVP with real customers
Based on learning decide to Pivot or Persevere
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Lifeline.com.bd
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www.lightcastlebd.com
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