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A simple way to develop and pitch your next company

A simple way to develop and pitch your next company

I work on lots of new ideas for companies. I have developed the following tool that helps me (and it seems many others) to quickly develop and evaluate these ideas. In the simplest form, it helps create an elevator pitch, (e.g. for www.gist.com - We focus on relationship centric professionals like ...

The Startup Calendar

The Startup Calendar

In a startup, you are always racing against a clock. Most of the time this is "when are we going to need to raise more money" but can also be working toward key milestones or trying to outpace key competitors, which is often when you need to raise money. And, ...

6 steps to finding the right beta users

Finding the right early users can make or break a startup. If you find the wrong people, they will either waste your time with irrelevant suggestions or could easily send you off in the wrong direction. Here are a few suggestions on strategies to find the best early users. 1. Articulate ...

Good advisors (and investors) want to be managed

I get asked for my advice on new startups alot and I like to give it.  I have also been very fortunate and had great mentors, advisors and investors.  So, I can say that the best relationships are ones where the entrepreneur works hard to manage his advisors.  This generally ...

Perfecting your startup pitch

Perfecting your startup pitch

Over the past month I have had the privilege of attending or speaking at a StartupWeekend in Boise, TechStars "for a day" in Seattle, TechStars New York,  Microsoft Kinect Accelerator in Seattle, TechStars Boulder (with Jason Mendelson) and finally mentoring at a Startup Weekend in Medellin, Columbia.  It's been ...

Startup partnering – 10 do’s and don’ts that make successful partners

Startup partnering - 10 do's and don'ts that make successful partners

I work with a lot of startups as a mentor, advisor and as a CEO on my own.  I am often asked about how, who and when to partner with other companies.  Here is what I usually say; Don't partner until you have product/market fit - It is very easy to ...

Killing Your Startup By Listening to Customers « Steve Blank

Customer Development = The pursuit of customer understanding

Part of Customer Development is understanding which customers make sense for your business.  The goal of listening to customers is not please every one of them.  It’s to figure out which customer segment served his needs – both short and long term. And giving your product away, as he was discovering, is often a going out of business strategy.

The work he had done acquiring and activating customers were just one part of the entire buisness model.

via Killing Your Startup By Listening to Customers « Steve Blank.

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A simple way to develop and pitch your next company

I work on lots of new ideas for companies. I have developed the following tool that helps me (and it seems many others) to quickly develop and evaluate these ideas.

In the simplest form, it helps create an elevator pitch, (e.g. for www.gist.com – We focus on relationship centric professionals like sales, PR and recruiters (C) and, save them time (V) as they prepare for meetings, by creating dynamic full-contact dossiers (F) and charge them a monthly service fee (B).  It is not critical for this to be the marketing pitch, but it helps.

To get started on finding the “MVC” (minimum viable company), you need to start with the “smallest idea that is big enough” (a few customers, 1 value, 1 key feature and a clear biz model).

You need to identify real people you know (we built Gist for me and 2 sales guys, thx Kendall and Brandt) who can validate the idea, value, key features and their willingness to pay (which should be very high).  As you find representative people, you can abstract key attributes of them to start to generalize into “personas” which becomes your real target customer.  And from here you can start looking for the best beta users (more on that here)

You can then compare different parts of the model to see how well the idea works.  A few examples;

  • C–V – does your target customer value what you are doing (e.g. saving time, qualifying leads, increasing revenue…) and how much (scale of 1-10)?  Is the value a real pain or just nice to have?  How do they solve this pain now?  How would they quantify value?
  • V–B – is the value your delivering correlated to the business model?  If you save someone time, do you charge more depending on the amount of time you are saving?  Work hard to correlate these things by changing one of the other.  This ends up relating to ROI (return on investment).
  • F–B – are the features you are building organized to support the different price points?
  • C–B – does your customer usually buy in the model you are proposing?  What other services/products do they buy that are similar to yours and is the model similar for these products?  How much do they pay for related services?
  • F–V – are the features you are building aligned with the value and in similar priority order?  If your value is saving time, do you consider each feature on how much time it can save the end user?
If you can’t make an idea work on a just a few users, just a few features, a pretty clear value prop and a clear business value, it’s probably not such a good idea.  I know one tool does not solve all the issues in considering a new idea, but this is the best one I have found.   Please suggest others and/or other ways this could be improved.  Good luck on your next idea.
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6 steps to finding the right beta users

Finding the right early users can make or break a startup. If you find the wrong people, they will either waste your time with irrelevant suggestions or could easily send you off in the wrong direction. Here are a few … Continue reading

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Corum group presentation – trends and predictions for 2012

Today I participated in an annual call with The Corum Group, a Seattle based M&A group focused on trends and opportunities for 2012 across the broad software, internet and mobile spaces. I was part of a panel that included some friends and people I really respect, including;

  • Dan Shapiro, Google — Social Domination
  • Chris Bray, IBM — The Year Ahead
  • T.A. McCann, RIM — Revolution in Mobile
  • Peter Coffee, Salesforce — Cloud Strategies
  • Steve Singh, CEO, Concur — SaaS in 2012
  • Reese Jones — the Berkeley Lab Sage
  • John Heyman, Actuate Partners — “Selling for a Billion”

I made the following key points about “revolutions in mobileRead more

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Building your tribe – regular and efficient updates


To create a great and successful company, marking and communicating your progress to yourself, your team and your supporters is critical. Here are a few things that have worked well for me;


- communicate every 2 weeks – this allows you to make meaningful progress, is a good frequency for your supporters to digest and sets you in a rythym towards monthly board meetings

- send your updates on Sunday afternoon – gives you an opportunity to finish out the week, have some time to put your thoughts down and will give your supporters a chance to read and comment before their busy week starts

- develop a specific format – I like to use the following: Read more
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