starting a tech start-up?
TRANSCRIPT
eventnookconnecting people with inspiring events
22-Jan-2014
Agenda• Background • Tech Startup Basic 101• Business Plan• Competition• Types of Internet startups• Basic Formula• Fund Raising
Background• Programmer since 2000 till now• 2004 - Programmer Job in Bangkok• 2005 – 2010 Programmer Job in Singapore• 2010 – 2013 Programmer Job in EventNook
Tech Startup Basic 101
• What type of company? - Product vs Service• Who are you customer? Target Audience• What problem are you solving?• Vitamin vs Pain Killer• User vs Customer (Who Use VS Who Pay)• What’s Total Addressable Market Size (TAM)?• Minimum Viable Product (MVP)• How to validate your idea? • Nobody steal your stupid idea! - Don’t be afraid of
stealing your idea! • Talk to your customer - Get out of the building (Steve
Blank)• How do you know if it’s a good idea?
Basic 101• Fail Fast, Learn Fast• Product Market Fit• Founder Product Fit• First mover advantage (pros & cons)• New idea• Ideas Vs Execution• Never Overnight success – it’s just they don’t
tell
Business Planning• Do you need a business plan?• You don’t need a big grand plan – but you
need a project plan to manage and track your progress
• Both Big Picture and Accomplish days to day• Discipline
Competition• Blue Ocean strategy• Should you be worried about competition?• Should you be worried about big company?• When people says you are in the crowed market• No competition could be a sign of bad idea• You should be worried if you can’t even make
One customer happy while your competitors can make thousands happy
• Competitors don’t kill – Startups dies because they can’t make progress!
• Why big companies lose out startups?
Types of Tech Startups
• B2C, B2B, C2C• Consumer based internet startup• Freemium, Subscription• Per transaction• Advertising
Basic Formula• Profit = Revenue - Cost• Life Time Value (LTV)• Cost of Acquisition• Red sign - Cost of Acquisition > LTV• How cheap can you get a customer? • – Growth Hacking
Funding• What’s bootstrapping?• What’s Angel Funding, Series A, Series B, etc?• Angel investor Vs Venture Capital• Equity funding vs Loan• How easy to get funding?• Should you raise money?
Is Startup Fun? – • Absolutely Not
Myths about Startup• Startup is cool – yes, in the movie – Facebook• Be your own boss – Work hours flexible -
but….• Wow, you are on the way to Millionaires –
but….
When it’s fun?
What programmers can empower
people•Start School vs KhanAcademy.com
•Build hotels vs AirBnb.com
•Taxi company vs Uber app
•Open a music store vs Soundcloud
•Hollywood vs YouTube (Gangnam - 1.8 billion views)
•Encyclopedia vs Wikipedia
•Start paper publishing vs Wordpress,Tumblr
•Start an event company vs EventNook.com :)
•etc etc
It’s happening because of
•Cheap Cloud Computing (power of cloud)
•Internet access to billions of population
•Smart Devices, Credit Card, etc
•Changes of market & distribution (E.g., social media, app store, etc)
The best time to be the programmer.
This is just the beginning of the change coming!
