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Lessons I learned from managing startups

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Page 1: Lessons I learned from managing startups
Page 2: Lessons I learned from managing startups

RETAILING E-COMMERCE FOR PEOPLE

for sole traders and SME’s, for family owned or public companies, for startups and

hundred years old firms.

Page 3: Lessons I learned from managing startups
Page 4: Lessons I learned from managing startups

WIZMO the key to your property

1 year since kickoff and what I learnt from it

Page 5: Lessons I learned from managing startups

WIZMO the key to your property

1 year since kickoff and what I learnt from it

www.wizmo.ro

Page 6: Lessons I learned from managing startups

THE THING ABOUT A PROOF OF CONCEPT a minimum viable product

and when is it enough?

Page 7: Lessons I learned from managing startups

A GOOD IDEA…

Empathy Find a need that a market faces.

Addictive Solve the problem in a way that they will continue to use.

Famous Find ways to make it famous.

Revenue The features will provide users that will fuel growth organically.

Scale The idea will have the margins to become sustainable

Page 8: Lessons I learned from managing startups

GOOD ENOUGH…

Better Your solution can be minimum as long as it’s better then the competition. Or there is no competition?

Business You should be sure about the business model before you start. And there should be a business model.

Scale up You can start small, as long as you can go fast in building it up.

watch out for short cuts….

Page 9: Lessons I learned from managing startups

HARD WORK BEATS

talent WHEN TALENT DOESN’T WORK

hard

Page 10: Lessons I learned from managing startups

TALENT & HARD WORK

Laziness Having lazy team members is good. But there has to be discipline.

Negativity There are + and - people, and you need both. But balance is key.

Different kind of tasks/people You can’t only have geniuses in your team. You can’t only have market experienced people in your team.

Page 11: Lessons I learned from managing startups

TAKE SMALL STEPS

but go fast and use agile scrum

Page 12: Lessons I learned from managing startups
Page 13: Lessons I learned from managing startups
Page 14: Lessons I learned from managing startups

DON’T WAIT TOO LONG

to ask for feedback FROM YOUR TARGET GROUP

Page 15: Lessons I learned from managing startups

ASK CLOSED QUESTIONS. PRESENT CHOICES. DON’T EXPECT SOLUTIONS.

Page 16: Lessons I learned from managing startups

TOO MUCH DEMOCRACY WILL HAVE YOU END UP WITH

nothing good “

Page 17: Lessons I learned from managing startups

A LARGE # OF PEOPLE For names…

For color combos… For design…

JUST MAKES IT HARD TO DECIDE

Page 18: Lessons I learned from managing startups

DO A STAGED LAUNCH

and learn from each step“

Page 19: Lessons I learned from managing startups

STAGE 1

• Recruit / Select 10 early adopters • Present the solutions for the problems

they are having. • Build your Unique Value Proposition and

validate it with them.

STAGE 2

• Find next 100 customers • Start-up the advertising campaigns • Use the early adopters to find the next

batch of customers • Find the data base with prospects and

convince them to work with you • Collect testimonials / case studies and use

them in your product presentations • Use a freemium option

STAGE 3

• Find next 1.000 customers • Activate your marketing and sales

channels • Use your website to sign-up prospects • Define multiple pricing plans

STAGE 4

• Focus on your next 10000 customers • Optimize acquisition cost • Improve traffic building • Start planning next developments, learn

from your customers

Page 20: Lessons I learned from managing startups

USE ONLINE TOOLS

to win time & co-work time tracking, planning, PM …

Page 21: Lessons I learned from managing startups

BUT THE MOST IMPORTANT THING IS

your business model