@tomfrazier Startup Research Don’t build shoe umbrellas
How to do startup research
Dec 18, 2014
A primer on the necessary concepts you should apply before you start the most amazing idea ever.
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
@tomfrazier
Startup ResearchDon’t build shoe umbrellas
@tomfrazier
‣ Market Size
‣ Market Adoption
‣ Market Evolution
‣ A Few Tools
In A Nutshell
@tomfrazier
1.34B * 1% * 99 cents = $13.4M! @tomfrazier
You won’t get 1% of China.
Top Down Research Is Limiting
‣ Signup 100 people
‣ Each tells 10 friends
‣ 12% of referrals signup
‣ .12 * 1000 = 120 new
‣ 120 / 100 = 1.2 :/
‣ Now do some bottom up math to validate the 100.
Viral Coefficient
@tomfrazier
I’ll signup 100 in month one.
Each tells 10 friends resulting in 1000 invitations.
12% of referrals signed up
12% * 1000 = 120 new users
120 / 100 = 1.2 :/
VIRAL COEFFICIENT@tomfrazier
An example...
Market AdoptionWhere does your company sit?
@tomfrazier
Market AdoptionGood starting point is the Gartner Hype Cycle
@tomfrazier
Market AdoptionGood starting point is the Gartner Hype Cycle
@tomfrazier
Hype Curve & AdoptionPutting the two together to understand the startup challenge
@tomfrazier
Hype Curve & AdoptionPutting the two together to understand the startup challenge
@tomfrazier
You will most likely die here
@tomfrazier
Markets EvolveGo with the grain not against it.
Bigger Ice(Months)
@tomfrazier
Markets EvolveGo with the grain not against it.
Bigger Ice(Months)
Be!er Saws(Days)
@tomfrazier
Markets EvolveGo with the grain not against it.
Bigger Ice(Months)
Be!er Saws(Days)
Printer?(Seconds)
@tomfrazier
Markets EvolveGo with the grain not against it.
‣ Photofinishing
‣ Money Markets
‣ Newspapers
‣ Hardware
‣ Footwear
‣ Apparel
Don’t start in a dying market
@tomfrazier
Maybe reinvent it...
v
............
...
...
...
...
Divergence of Technology@tomfrazier
Convergence of Media@tomfrazier
Some Tools
@tomfrazier
@tomfrazier
Google Trends
@tomfrazier
Ask Your Target Market
@tomfrazier
Quora
@tomfrazier
Quantcast for demographics
@tomfrazier
Builtwith for tech stack
BUSINESS MODEL CANVAS@tomfrazier
Business Model Canvas
@tomfrazier
The most important tool!
‣ Market Size
‣ Market Adoption
‣ Market Evolution
‣ A Few Tools
In A Nutshell
@tomfrazier
@tomfrazier
& keep learningThanks!
Awesome images from dunechaser on flickr!
Related Documents
