Wanna be starting something

Wanna Be Starting Something?

@ChikaNwobi

Any Startup Guys/Ladies?

Lets exchange notes – Learn together

Human institution designed to

create something new under extreme

uncertainty.

Only 10% of new businesses are still

in operation after 10 years - Globally.

• 22 year old with:

– a great idea

– passion

– commitment

– competence

– leadership experience

• 24 months of complete despair• Sacrifice• Months of unpaid salaries• Shareholder fatigue• Phd maybe?

What Makes a Startup Succeed/Fail?

Principles of Prof. Henry

• Sleep is optional • Code a Little, Test a little.

Test-Driven Coding

Agile Software Methodology

Lean Startup Methodology

with Eric Ries

@ericries

1. What do customers truly want?

2. How do you become sustainable?

3. How can you waste less time

building a new startup?

The Lean Startup aims to quickly

and quantitatively identify great

hypotheses and bad ones

Create a Minimum Viable Product

(MVP): The smallest possible product

we can possibly imagine

Some Examples of MVP

1. A simple flyer2. A web page and a $100 Facebook campaign3. A palmie-flavored pure water 4. Vapor-ware

Validated learning is the process of

using quantitative methods to modify

the end product in a way that it

becomes more successful

Learning helps you identify what is

unknown, and allows you make

progress with the product.

Metrics that look very good but are

essentially useless to portray your

success

• Ex: 100,000 visits per month

Metrics that provide useful

information that an entrepreneur can

use to modify the end product.

• Ex: 0.01% Purchase Rate

Fundamentally products are tools

for changing customer behavior and,

therefore, changing the way the world

works.

Vanity metrics can fool an

entrepreneur into thinking that his or

her product is growing, when, in

reality, it is not.

1. Make predictions on metrics that

are supposed to happen

2. Measure your actual metrics versus

those that were in your predictions

“We all want progress, but if you're on the wrong road, progress means

doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is

the most progressive. “C. S. Lewis

The Art of PIVOT

This involves taking your validated

learnings and looking for another more

likely hypothesis to create value.

The number of pivots you have left is

the amount of time/resources your

startup has to find success.

Some Likely Objections

1. What if they steal my idea?

1. What if I have a divinely inspired idea?

3 Lean “Divinely-Inspired” Startups

• The World/Man-kind – Genesis

• Making of a Nation - Abraham

• Building of a Great King - David

3 Resources – Further Learning

• The Lean Startup – Eric Ries• Running Lean - Ash Maurya• http://theleanstartup.com/

3 people you might meet on your way to success

• Hungry, humble, honest

• The excuse giving leach

• The Corrupt Roadblocker

Hungry, Humble, Honest

• Mommy don’t cry• Imma make sure you say we no die• Imma go hussle and we go try• Hunger hook man for neck, shey na bowtie• Whatever it takes, me I no shy• If na heaven food dey, make we go sky• E better now make I sit down, make I no try• I go even buy ticket make we both fly• Mama, if it means say, make I turn slave, kuta kente• Anything just to make clean pay• you never see food chop since Wednesday• Make I wash car, sell gala, shine shoe• Shey na work, anything I no mind do• I go do better work, even times two• Cos it’s not easy, it’s not easy, it’s not easy

Excuse-giving Leach

• Chale, no vex• Anything for your boys, make we go flex• No work make we do, so no cheques• Aaah We sef wan rock Rolex• Do something for your boys, we are loyal• You be king, you be chief, you be royal• Alaiye you go scatter them total• International star, no be local• eh ha• If we get work, wey go bring better food make we take chop• No be road we for stand, we for dey shop• If for say things connect like we network• If for say school fees dey, we for dey class• You sef no say warri no dey carry last• But as things dey na, we no fit chop grass• At all at all, nah him bad pass

The Corrupt Roadblocker

• Oga stop thereAbi u never see road block hereNa we be the police search and stop hereIf you wan pass son gotta drop hereU no dey see gun abi u no wellIf you form actor, u go go cellSee behind counter, no be hotelYou go do 3 nights before u go bailBut if you want moveYou sef know wetin you suppose doDo am quick quick make I no expose youNyem something make I hold or I’ll hold youHey Sergeant Collins, make you come checkSearch am quick, search him bag and him pocketAny exhibit wey we come getThen alarm go blow on una trumpet

“Corruption is symbolic of the Anti-Christ Spirit” - Pastor Poju

It will prevent you from building a strong company with a solid foundation

It is robbing God of his glory in your life

It is robbing you of your destiny in God

It is destroying Nigeria and preventing us from building a strong country

People like Ibukun Awosika are inspiration

On Corruption