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By Gagan Biyani
@gaganbiyani
The Billion Dollar Question
Is my idea any good?
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Gagan Biyani: About Me
Co-Founder, UdemyFounder Institute GradRaised $16 MMOver $6 MM in courses sold
Marketing Consultant/Advisor, Lyft
Led Lyft’s launch in Los Angeles
Blogger, TechCrunchInvestigative article led to investigation by FTC
Mentor/Advisor Founder Institute, Lean Startup MachineTenderTree, Wedding Party and Sokikom
Founder, Growth Hacker ConferenceLeading startup conference on marketingSan Francisco, May 3, 2013
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Overview
1. Customer Development / Research
1. Startup Concierge
1. Building a Fact-Based Culture
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Elements of a Good Idea
Product/Market Fit
Market SizeViability
Your mom wants to use it
Competition
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Do people want your product?
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Go find your customer
Then, get on the phone and call them!!!
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Anatomy of a Customer Survey
How many days a week do you order take-out ordelivery for dinner?
When you order dinner to your house, how much doyou usually spend per meal (incl. delivery)?
What are your main criteria when determining whatto eat? (Pick as many as applicable)
How much would you expect to pay to have a healthy,delicious, home-cooked meal delivered to your door?
How much would you expect to pay to have a healthy,delicious meal prepared by the head chef of arestaurant you know delivered to your door?
Are you satisfied with the options you have for dinnereach night?
What city do you live in?
Qualifying the audience
Understanding motives
Are the price expectationsreasonable?
How do price expectationschange?
Another qualification
Obtaining facts
Open-ended question
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Testing your product withouttechnology
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Use whatever you need to test your idea
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Minimal Viable Product
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Facts trump Reason
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I’m right. No I’m right. No I’m right.
1. Asian Short Ribs with Star Anise GlazeTender, fall-off-the-bone ribs marinated in a tangy glaze. Served with vegetables.
2. Chef’s Special Meatballs in Spicy Marinara Chef Sam’s specialty. Moist, juicy pork meatballs infused with red pepper and spices.
3. Chicken AdoboSucculent chicken simmered in a fragrant blend of soy sauce, garlic, cider vinegar,black pepper and bay leaves.
4. Braised Chicken in White Wine Leek SauceTender and juicy chicken marinated in a light, flavor-packed sauce. Sprinkled withblack pepper.
5. Vegetable LasagnaHand made pasta in a light cream sauce filled with a medley of fresh veggies.
What meal option do people want to eat?
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Data FTW
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Twitter: @gaganbiyaniE-mail: [email protected]
Questions?