Build-Measure-Learn : A cycle to succeed a mobile app start up.
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Build-Measure-Learn : A cycle to succeed a mobile app start up. Given talk on Apr 22 2015 at Shinawatra University.
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Build-Measure-Learn : A cycle to succeed a mobile app start up.
- 1. Kobkrit Viriyayudhakorn, Ph.D. Co-founder/CTO, Rushbike Build-Measure-Learn A Cycle to Succeed Mobile App Start Up
- 3. Rushbike
- 4. 200 Million THBin 2014 2,800 Million THBin 2018 US Market Size
- 5. In April 2015, ~ 30 Deliveries per day (~1M THB in Annual Revenue) In Jan 2015, ~ 6 Deliveries per day (~200K THB in Annual Revenue)
- 12. 1.We have great Idea! 2.Design App on paper 3.Start writing the code 4.Finish development 5.Talk/Sell product to customers 6.Hopefully we got a lot of customers My Great Startup Plan
- 13. 1.We have great Idea! 2.Design App on paper 3.Start writing the code 4.Finish development 5.Talk/Sell product to customers 6.Hopefully we got a lot of customers My Great Startup Plan
- 14. 1.We have great Idea! 2.Writing down business plan. 3.Design App on paper 4.Start writing the code 5.Finish development 6.Executing the business plan 7.Talk/Sell product to customers 8.Hopefully we got a lot of customers My Great Startup Plan
- 15. 1.We have great Idea! 2.Writing down business plan. 3.Design App on paper 4.Start writing the code 5.Finish development 6.Executing the business plan 7.Talk/Sell product to customers 8.Hopefully we got a lot of customers My Great Startup Plan
- 16. 1. We have great Idea! 2. Make/Revise Business Model Canvas (Short Biz Plan) 3. Talk with customers 4. Learn feedback of customers. 5. Repeat 2. Until Business Model Canvas is right. 1. Implement/Improving a MVP prototype. 2. Show/Selling it to the customers. 3. Learn feedbacks from customers 4. Repeat 6. Until Product is right. My Great Startup Plan
- 18. 1. We have great Idea! 2. Make/Revise Business Model Canvas (Short Biz Plan) 3. Talk with customers 4. Learn feedback of customers. 5. Repeat 2. Until Business Plan is right. 6. Implement/Improving a MVP prototype. 7. Show/Selling it to the customers. 8. Learn feedbacks from customers 9. Repeat 6. Until Product is right. My Great Startup Plan Build Measure Learn Build Measure Learn
- 20. 1. We have great Idea! 2. Make/Revise Business Model Canvas (Short Biz Plan) 3. Talk with customers 4. Learn feedback of customers. 5. Repeat 2. Until Business Plan is right. 6. Implement/Improving a MVP prototype. 7. Show/Selling it to the customers. 8. Learn feedbacks from customers 9. Repeat 6. Until Product is right. My Great Startup Plan Build Measure Learn Build Measure Learn
- 27. Moreover Execution & Product • Money – Fund raising • Venture Capital • Angle Investor – Accounting • Tax – Finance • Projections • Marketing – Ads & Media Exposures. – Brand Positioning – Growth Hacking • Operations – Problem solving • Management • Legal – User Agreement • Sales – Competitor Analysis – Customer Relationships • HR – Recruiting & Hiring – Company’s Cultures
- 28. On-demand Delivery http://rushbike.com 20% Discount Promo-Code SHIN20P Until June 22, 2015
Notas del editor
- What is rushbike? Take a look on video.
- Rushbike is the platform business that connect SME and logistic supply. We can connect restaurant owner with a delivery guy with motorcycle or pickup truck or van. They are connect by mobile application and internet. SME can make a delivery request via mobile applications, iOS or Android, or Web. The request will be broadcast and send to our registered delivery guys or our logistic company that we partnered with. And make the delivery happen. We accept Cash-on-delivery and credit-card.
- How big the last-mile delivery market? Now it is about 200 million baht for last-mile delivery. It will become 2,800 million baht in next 4 years. Yes, it will be 10x time growth.
- Our rushbike’s traction is start from 6 deliveries per day from January 2015 and growth 5 times within 4 months. Without much marketing.
- The idea start from the motorcycle taxi service. We see this waiting line for motorcycle while raining. It is very inconvenient. Customer need to walk quite some distance and need to stand in the rain for the service. Why don’t we waiting in coffee shop and the motorcycle driver picking us out instead.
- We have some idea of connecting customer and driver via mobile application. We admit that we have 0 experience in business and also 0 knowledge. We know only the technology part. So we join the JFDI.Asia Accelerator in Singapore, which they can give us huge advice and also seed funding.
- They taught us everything based on this book. The lean startup from eric ries.
- This is for the business plan.
- This is for the product.
- At that moment, we think that the startup plan is something like this. , 2, … Show me your hand if you think it is cool?
- No we are wrong. We lack the business execution plan. We will waste about 3-6 months on number 3, and 4 without revenues. The prototypes are NEVER NEVER NEVER survive when it first contact with the customers.
- OK. We should at least write down the business plan. Understand who is the our actual customers, connect with them in which channel? How much the cost we need to spend? How much the revenue we expect to get? How much people or team do we really need?
- Still wrong. You will waste about 1-2 month on study and writing business plan. + 3-6 months on making the app. With in 8 months, The business trend is changed already. There is no way to prove or test that our business plan is really working until at the number 6-7.
- This is how will I do the start up today. We need to research and find two things. If we can find them, it is the potential business. Business Plan Product
- To find both of them, we need to iterate this cycle. Build Measure Learn
- For the business plan, We take about 1 hour to write a one-page summary of business plan that capture all 9 vital components. Then we go out of the building, go out to talk with the your assume-to-be-right customer segments. Try to validate all of 9 vital components in the business plan. If everything seems wrong, your customer segments might is wrong. Talk with other group of customers. Repeat until all of 9 components is valid.
- For the product, We take about 3-6 hour to make the first MVP. May be the fake website with very basic functionality. Make the e-mail input box on the front page, invite people to put their email in, to evaluate how much people love it. Promote it your assume-to-be-right channel. See how much people interest on your product. Go talk to them, email, call, may be show it in person with your customer segment to get the feedback. Improving / starting adding the most-wanted feature.