2014/0500 - Gagan Biyani at Proto hack

Prototyping to $12M in funding lessons from building Sprig

!@gaganbiyani

My Background

Co-founder and CEO, Sprig

Growth Advisor, Lyft

Co-founder and President, Udemy

Path to Product/Market fit

1 Customer Development / Research

2 Startup Concierge

3 Build v1 based on Learnings

Choosing an Idea

Product/Market Fit!Market Size!

Viability!

Your mom wants to use it!

Competition!

Do people want your product?

Find your customer

Then, get on the phone and call them!!!

User life cycle

before they buy first purchase

share with friends repeat purchases

User thought cycle

I hate change what is this?

oh dude you should totally check this out

what was the name of that app again?

Application to Marketing

acquisition conversion

referral retention

Interview Questions"Tell me a little about yourself" (What do you do for a living? Where do you live? Where do you work? Roommates/married/kids?)!!"Tell me about your dinner habits. What did you eat last night? Last weekend?”!!"Tell me about your food delivery experience. What do you think about your current options?”!!"Tell me about your daily life. What do you read? Where do you go when not at work/home?" (Cafes? Bars? Blogs? Newspapers?)!!Explain Sprig.!!"What would you think about [ordering Sprig]?" (Positives? Negatives? Questions?)!!"What suggestions do you have as we try to market Sprig to people like you?"

Test it without technology

Field testing

Minimum Viable Product

v1 should be different from your original vision

Attention to Detail

Focus breeds Success

Press%14%%

Friend%63%%

Newsle2er/NextDoor%10%%

Founders%3%%

Other%3%%

Facebook/Twi2er%7%%

Source: survey to new customers 2/6-2/10. 98 respondents. Question: “How did you hear about us?”

Traction by week

$0##

$5,000##

$10,000##

$15,000##

$20,000##

$25,000##

$30,000##

0#

500#

1000#

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4*Nov# 11*Nov# 18*Nov# 2*Dec# 9*Dec# 16*Dec# 6*Jan# 13*Jan# 20*Jan# 27*Jan# 3*Feb# 10*Feb# 17*Feb# 24*Feb#

Meals&per&week&

Repeat#Customers# New#Customers# Revenue#

gaganbiyani@gmail.com @gaganbiyani

Thank You