Embed Size (px)
Citation preview
Kenneth HellemSeed Nordic Startup Factory
Mobile: +46 70 400 26 44 Email: [email protected] Twitter: kenneth.hellem
FOR STARTUPS
Slides 2-6 borrowed from: http://startupjuncture.com/2013/06/19/startup-2/
“A startup is an experiment in dreaming up a new
product or service and
bringing it to life as a
scalable business”
Kenneth Hellem
Shiny Product
How to create a successful business (in 8 easy steps…)
No one get’s it right the first time
No one get’s it right the first timeTune In Hook Up
Video based dating site,modelled on Hot or Not
No one get’s it right the first time
Socially good fundraising platform
No one get’s it right the first time
Check in servicesimilar to FourSquare
OBSERVE DREAM
DO
Cost%structures% Revenue%model(s)%
Value%Proposi7on%
Customer(s)%Unfair%Advantage%
Key%Metrics% Channels%
Problem% Solu7on%
BUSINESSMODEL
How to create a successful business (in 3 really difficult steps, that never end…)
Adapted from Lean Startup methodology
What is a business model?A representation of how an organization
makes (or intends to make) money.
Business Model versus Business Plan
2 weeks (95% wrong)
20 minutes (90% right)
A snapshot of current assumptions
A document no one will ever read
http://www.amazon.com/Business-Model-Generation-Visionaries-Challengers/dp/0470876417
The bible of Business Model Generation -> Buy it!Alexander OsterwalderThe godfather of Business Modelling
The bible of Business Model Generation -> Buy it!Business Model CanvasDescribe your business model on one page
http://www.businessmodelgeneration.com/canvas/bmc
Ash Maurya
LEAN CANVAS
Business Model Canvas Lean Canvas
Business New and existing businesses Startups
Target user Entrepreneurs, Investors, Consultants, Advisors Startup Entrepreneurs
Focus Value Creation (Activities, resources, partnerships…)
Product / Market fit (Problem, solution, unfair advantage…)
ApplicationDescribe business model to provide candid understanding, discussion and constructive analysis
Capture hypothesis to develop new business model based on LeanStartup methodology
Lean Canvas is better suited for Startups
https://leanstack.com
Leanstack.comCloud based tool for creating lean canvases
Idea Generation
Market Validation
Venture Development
“Market research” Network validation
Team gut-‐feel
Concept development MVP / Prototype Market validation
Business model & plan
Product development Customer development Generate first revenue Raise seed investment
Incorporation Hire team
Scale Business Raise A-‐Round
S TA R T U P F A C T O R Y
Sample
Startup Factory - Investors
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
PROBLEM
High failure rate on investments
Difficult to evaluate quality of
team and idea at an early stage
Hard to find relevant
investments
Inexperienced teams
EXISTING ALTERNATIVES
Accelerator programs
Traditional dealflow
Startup spaces
SOLUTION
Repeatable approach for
validating ideas
Known team
Made to order startups based on
investment thesis
UNIQUE VALUE
PROPOSITION
We create startups over and
over again
Team of experienced
entrepreneurs
Proven approach that eliminates
bad ideas before seeking
investments
HIGH-LEVEL CONCEPT
BetaWorks for the Nordics
UNFAIR ADVANTAGE
Approach gets better with every
new project
Experience from investing in,
and accelerating startups
Investors involved from the start
CUSTOMER SEGMENTS
Angel Investors
Super Angels
Small VSC's
EARLY ADOPTERS
Small VC looking for new
avenues to source startups
KEY METRICS
Number of interesting ideas
Number of validation cases
Number of product development
cases
Number of investments
CHANNELS
Direct relationship
Idea brainstorming session
COST STRUCTURE
Salary
Rent
Expences
REVENUE STREAMS
Large equity post in spinoff companies
Revenue only realizable at future exit (5-10 years)
Funded through (Startup-as-a-service). See separate canvas
SampleSeed Nordic - Startup Factory
