Trever Faden, Co-President of the GW Entrepreneurs, kicked off the second semester meeting series with a presentation about the very basics of startups & minimum viable products (MVPs). Referencing key free/low-cost tools, Trever presented a clear set of steps that a young entrepreneur MUST take before the first product is ever built. Using these tools, entrepreneurs can fully understand their target market, the needs of their customers, and build a sizable lead list filled with customers ready and able to purchase your product or service when it is built & launched. Use this presentation to lift-off your startup idea and GET IT IN FRONT OF YOUR CUSTOMERS. Learn more at: www.gwentrepreneurs.com or www.treverfaden.com

1. Startups
101:
From idea to
liftoff

2. Who am i
@treverfaden
• Partner @
dogfishlabs
• Co-prez @ Gw
Entrepreneurs
• Addict of new
business
innovations

3. What is a
startup?

4. What is a startup?
“a Human institution*
dedicated to creating
something new under
conditions of extreme
uncertainty”
-Eric Ries
Author, The Lean startup

5. Why
startup?

6. Why startup?
• Must love risk!
• Maximize your
economic value
• be your own boss
• Control your
own destiny

7. How the
hell do I
start up?!

8. Build
The
mvp

9. Minimum viable product
“that version of a new product
which allows a team to
collect the maximum amount
of validated learning about
customers with the least
amount of effort.”
-Eric Ries
Author, The Lean startup

10. Minimum viable product
1) Job
discovery
2) Customer
discovery
3) Market
testing
4) Lead
generation

11. Jobs to be done (JTBD)
What is the job your
customer is hiring
your service for?
Examples:
milkshakes Harvard business
school
37 signals The rewired
group

12. Job discovery
Action item
Ask
why?!

13. Customer discovery
Most people
won’t want
your product!

14. Customer discovery
Who has the job
you’re solving?

15. Customer discovery
Stop assuming
&
Start
EXPERIMENTING!

16. Customer discovery
1) Market
research
2) Make landing
pages
3) Run ads
4) Iterate

17. Market research
Google consumer surveys
• Ask your target
demographic a
question
• Screen
respondents
• Get answer to
question
• Get insights into
demographic
breakdown $75 Coupon

18. MVP step #2
Fake it

19. Landing pages
1) Fast (no coding skill needed)
2) Free
3) A/b test
4) Single
conversion
goal

20. LANDING PAGES

21. Run ads

22. Run ads
Ad networks
1) Facebook
2) Google adwords
3) Linkedin ads
4) Twitter ads
5) Stumbleupon
6) Pinterest

23. Run ads
b2c b2b Ad types
1) Direct ads
2) Sponsored
content
3) Content
marketing
4) Retargeted
ads

24. Run ads
1) Highly targeted
2) Very cheap
3) Multiple
display types
4) social
$50 free
Sponsored Promoted
like post ads activities

25. Run ads
1) Keyword based
2) Variable pricing
3) Not Social
$75 free

26. analyze

27. Analyze
Useful tools
tracking creeping
1) Google analytics 1) Rejoiner
2) woopra 2) sessioncam
chatting stalking
1) Olark 1) Perfect
audience

28. tracking
Google analytics & woopra
1) How many people • New vs. Repeat
visited your website visitors
2) How people got to
your website • geography of
visitors
3) What they’re doing
on your website • Big data analytics
4) How long they’re
on your website

29. chatting
olark
1) See who is on your
website in real time
2) Chat with your
visitors
3) Visitors can chat
with you
4 months free
“silver” plan

30. creeping
rejoiner
1) Capture customer information
even if they don’t submit the
form
2) Put “abandoned” customers in
email pipeline trying to get them
back to purchase

31. creeping
sessioncam
1) Records your customers
on your website
2) Watch how customers
engage with your page
a. Where they move
their mouse
b. What they click
c. How they scroll
3) Generate heatmaps for
your page

32. stalking
Perfect audience
1) Auto-Targets facebook ads to
people who have visited your site
2) Follows visitors around the web
to display ads (omnipresence)

33. In
summary

34. #1
Know the
job you’re
solving

35. #2
Talk to your
customers!

36. #3
Fake it
With a
Landing page

37. #4
Run ads
&
Generate
leads

38. #5
Come back
To the
Gw
entrepreneurs
meetings

39. Questions?
@
treverfaden
Trever@dogfishlabs.com
202-455-0011

40. What do you want to
learn next?
Text: (802) 744-0009 to vote
A) PRODUCTIVITY TRICKS + TOOLS
B) THE SECRETS OF PAID ONLINE
ADVERTISING
C) IDEA CREATION - BRAINSTORMING
THE NEXT BIG THING
D) PERSONAL ONLINE BRANDING