Turning an idea into a tech startup

Sep 1, 2016 | Publisher: UnifiedVU | Category: Other |  

How to turn an idea into a thriving tech startup Manoj Ranaweera, Founder & CEO, UnifiedVU 2016 Sep 02, Alliance Manchester Business School Before we start Takes 3 times more than your worst estimate Costs 3 times more than your best estimate Unless you are born lucky, you have to create your luck, i.e. be at the right place at the right time with the right idea and the right team. Say goodbye to the life as you know it. Be prepared to lose everything. DON'T GIVE UP YOUR DAY JOB If any sanity, ignore temptation at all cost. It's a disease! 2002 - 2004/5 Executive MBA "Can do anything" 2004 Ebdex 2006 Ebdex - shutdown Techcelerate 2013 2015 2007 edocr.com edocr.com - acquired UnifiedVU Northern Tech Awards - acquired Techcelerate - ends Joins Livestax Tech Centre Manchester Foresight North CRMPlus The life of post MBA How UnifiedVU began.. 2012 Causeway + Powershift Livestax UnifiedVU 2015 2013/14 PaaS SaaS UnifiedVU Milestones 2015 2016 July 2015 Team rejoins to work on full-time Jan 2016 Marketing starts April 2016 Signs first customer September 2016 Ready to action past 4 months of learnings Holy grail: Single Customer View Holy grail: Single Customer View Single Customer View Unified Tasks View Cashflow & Revenue Blocker Analysis Sales Pipeline View Customer Intelligence View Unified Communications View Key ingredients Seed Capital Founder Team Idea Vision Go Big or Go Home Your itch vs looking for a problem Product or feature Lifestyle / 100m / $1bn 3 Stages of a tech startup Problem/Solution Fit Continually refine the problem your product will solve Product/Market Fit Market is looking for what your product solves Scaling Systems and processes; established, tested and matured. Ready for growth Challenges deep-dive Problem/Solution Customer development Validate problem Refine solution Continually test Early adopter users Trickle of revenues Market education Pre-seed/Seed Capital Product/Market Sales & Marketing Market wants your solutions VP of Sales & team VP of Marketing & team Decent MRR Growth Churn under control Seed to Series A/B capital Scaling Ready for growth Developer network Distributor network Market Place Fortune 500 customers Growth capital Founder Team Team size of 2 to 4 ideal - not necessarily all co-founders Build Sell Focus on building the MVP Focus on everything else Customer Development Capital Pick your co-founders well. Avoid a 162 million mistake. The team Double down on sales and marketing Operations Hold it together Product Sell Focus on building the Product Double down on Sales Marketing Build the brand Start inbound marketing Focus on hiring the best talent you can afford! The changing landscape of startup capital 10 Segments of a tech startup Idea and vision Strategy and 3 months plan 2. Product Product road map + rapid iterations Product/market fit 3. Marketing Build brand + Positioning Inbound marketing 4. Sales Sales strategy Pricing 1. Opportunity Delivery Adopt technology to suit your stage 5. Operations 10 Segments of a tech startup Contracts Protect brand 6. Customer service Customer-centric organisation Company wide, not just a mission statement 7. Finance Continually raising Access to capital 8. HR Build the right culture Continually hiring 9. Legal Knowledge share Continuous improvement 10. Other Manoj Ranaweera Founder & CEO, UnifiedVU manoj.ranaweera@unified.vu +44 7769734491

Slide pack of talk to MBS MBA Alumni

About UnifiedVU

Unifying all your software. Starting with Customer 360º View by unifying customer records from sales, marketing, accounts and support into one intuitive user interface to increase customer lifetime value.

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