I gave this talk in seedcamp paris. It's about things we did right and things we did wrong with LOOKK.com.
Disclaimer: We actually worked 3-4 years on LOOKK.com But for simplification i excluded the wins and fails of the time before launch.
2 years, 1 deck - Lessons learned doing my startup
1. 2 years,
1 deck
Things…
We did right
We did wrong
flickr: pictureperfectpose #seedcamp – @andreasklinger
2. June 2010
Sept. 2011
ext
May 2012
2.0
@andreasklinger
3. Text
June 2010 - Garmz.com
You design, we do the rest.
@andreasklinger
4. Bird-eye view of
our processes.
Done for a
“F-Level” Investor.
“Most complex business
model ever (tm).”
It worked. But too
many moving parts.
@andreasklinger
5. G
IN
TH
Bird-eye view of
D
A
our processes.
B
Done for a
“F-Level” Investor.
“Most complex business
model ever (tm).”
It worked. But too
many moving parts.
@andreasklinger
6. G
IN
TH
D
Us:
A
B
fanbase crowd- proto- pre- prod-
logistics
building sourcing typing ordering uction
Competitor:
fanbase crowd- proto- pre- prod-
logistics
building sourcing typing ordering uction
8. G
IN
TH
E
M
O
ES
AW
Very Strong Community & Support
Mostly through telling the “Startup Story”
@andreasklinger
9. Very successful competition:
- 7 Fashion shows
- 25k+ new users
- 100’s of sketches submissions
- 100’s of collections (first time)
All numbers UP X-times
During fundraising !
@andreasklinger
10. G
IN
TH
D
A
B
Very successful competition:
- 7 Fashion shows
- 25k+ new users
- 100’s of sketches submissions
- 100’s of collections (first time)
All numbers UP X-times
During fundraising !
@andreasklinger
11. G
IN
TH
D
A
B
Competition Created
“Dataschmutz”
* Users had huge extra incentive.
* Marketing can hurt your numbers.
* While we decided on how to
relaunch we had dirty numbers.
@andreasklinger
12. G
IN
TH
E
M
O
ES
AW
September 2011
Launch of LOOKK.com
@andreasklinger
13. G
IN
TH
E
M
O
ES
AW
INVESTORS
Carmen Busquets
Dave McClure
Eden Ventures
Sherry Coutu
Tom Hulme
Seedcamp
500 Startups
…
Acceptance in fashion scene PARTNERS
+ Awesome investors Rafael Jimenez
Marco Innocenti
…
@andreasklinger
14. G
IN
TH
E
M
O
ES
AW
Won
Techcrunch’s
“Best Fashion
Startup”
Europas
Acceptance in fashion scene
+ Awesome mentors
@andreasklinger
15. G
IN
TH
D
A
B
Relaunch = “All-in Pivot”
Bad:
* should have “launched”
separately (no compromise)
* slow big change
* worried a lot about scaling
* based on invalidation not
validation (no learning what
actually works)
@andreasklinger
16. G
IN
TH
E
M
O
ES
AW
Starting to rethink…
Found out we were biasing &
misunderstanding customers…
Please watch
Rob’s Talk: http://bit.ly/rf-custdev
@andreasklinger
17. G
IN
TH Started doing
E
M
Customer Development
O
ES
AW
Turns out… We had no idea.
Pink = assumptions
Yellow = new learned facts
<- Sea of Sorrow
aka Invalidated
Assumptions
@andreasklinger
18. G
IN
TH
E
M
O
ES
AW
Jan 2012 - Instead changing the whole website
& backend-processes (3 months lead)
we started experimenting with isolated tests …
@andreasklinger
19. G
IN
TH
E
M
O
ES
AW
LOOKK 2.0
* zoom-in pivot
* focus on the things that worked
@andreasklinger
20. G
IN
TH
E
M
O
ES
AW
LOOKK 2.0:
fanbase crowd- proto- pre- prod-
logistics
building sourcing typing ordering uction
* focus on the things that worked
* focused team -> down to 3 people (excl. me)
21. No longer operative since
November 2012
Move to Berlin:
Prototyping on new ideas.
2 Years of rollercoaster
2 Years of failure and success
2 Years of loads of awesome learning
#seedcamp – @andreasklinger