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Eia playbook-2016-ita-final
The document outlines an extreme acceleration playbook for a European Innovation Academy held over 3 weeks. The first week focuses on customer development - forming multidisciplinary teams, identifying problems, designing solutions, and validating ideas with customers. Key activities include competence profiling, speed dating to find team members, defining problems and solutions, creating paper prototypes, and testing hypotheses with customers. The second week is dedicated to product development, marketing strategy, and launch. The third week covers funding, intellectual property, financial planning, and pitching to investors. Daily tasks and goals are provided for each activity.
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Similar to Eia playbook-2016-ita-final
Eia playbook-2016-ita-final
- 1. EXTREME ACCELERATION PLAYBOOK EuropeanInnovation Academy July 2016, Turin, Italy ©2016 by European Innovation Academy.
- 2. Prelude 3 Who IsWho In Your Team? 4 Who Is Who Among Your Mentors? 5 Team Work & Team Roles 6 Week 1 Customer Development 7 10 July, Sun Meet & Greet Day 8 11 July, Mon Day 1 - Team Formation Day 9 12 July, Tue Day 2 - Problem-Solution Fit Day 10 13 July, Wed Day 3 - Customer Development Day 11 14 July, Thu Day 4 - Prototyping Day 12 15 July, Fri Day 5 - Customer Validation Day 13 Week 2 Marketing Campaign /Product Development 14 18 July, Mon Day 6 - Revenue Model Day Product Sprint 15 19 July, Tue Day 7 - Growth Day Product Sprint 16 20 July, Wed Day 8 - Marketing Strategy Day Product Sprint 17 21 July, Thu Day 9 - Marketing Campaign Day Product Sprint 18 22 July, Fri Day 10 - Launch Day ! Product Sprint 19 Week 3 Funding & Pitching 20 25 July, Mon Day 11 - Market Traction Day 21 26 July, Tue Day 12 - Intellectual Property Day 22 27 July, Wed Day 13 - Financials Day 23 28 July, Thu Day 14 - Funding Day 24 29 July, Fri Day 15 - Pitching Day! 25 Epilogue 26 Thank You! 27 CONTENTS
- 3. You need to: Finda problem worth solving. Design a unique user experience that people have never dreamed of. Get to know your customers and tailor an addictive solution which is scalable. Create a story around your unique value proposition. Find shortcuts, copy and use existing resources to be agile. Act like a guerrilla warrior - resources are scarce. Engage your mentors to solve the problem. You will survive only if you act as a team! Goals are dreams with deadlines! PRELUDE
- 4. WHO IS WHOIN YOUR TEAM? CEO - I am a leadership and management ninja! CMO - I know how to get 1000 customers/users in just a week! CTO - I develop apps like Instagram in just 1 day! CDO - My creativity combines a marriage of UI and UX! CBO - My innovative business model turns an idea into value! CEO CMO CDO CBO CTO
- 5. WHO IS WHOAMONG YOUR MENTORS? Chief Mentor - for business mentoring and team management in 2 first weeks IT Mentor - for product development and prototyping in Product Sprint week Design Mentor - for UX design for product development and prototyping in Product Sprint week Marketing Mentor - for marketing mentoring in weeks 2 and 3 Life Coach - for personal development related questions in all 3 weeks IP Lawyer - for intellectual property protection in week 3 Investor - for fundraising mentoring in week 3 Chief Mentor IT Mentor Design Mentor Marketing Mentor IP Lawyer Investor Life Coach
- 6. TEAMWORK & TEAMROLES On Day 2 the latest - when you have your team together - discuss through each other’s skills, strengths and weaknesses and fill in this table to divide roles and responsibilities between you all. Return to this table each week when you are planning your tasks for the upcoming week. Consider switching additional roles* between you weekly. *Additional roles: Timekeeper - makes sure that the team allocates time for all tasks and uses time efficiently Secretary - takes, keeps and shares notes of all decisions and to-do-lists of the team Messenger - informs team members about changes in the calendar, social events, etc. Reporter - is responsible for filling in the Team Worksheet on the EIA platform Party Starter - makes sure that team members have fun options for free time Name Main competence Main role Additional role* Example: Anna Smith Marketing CMO Timekeeper 1. CEO 2. CMO 3. CDO 4. CBO 5. CTO 6. Other 7. Other
- 7. 1st WEEK 7 CUSTOMER DEVELOPMENT Leadquestions for your Mentor this week: Chief Mentor How to form a dream team? How to organise teamwork and roles to achieve our goals? How to find the right problem and the right solution for the right customer? 1st WEEK
- 8. 1st WEEK 8 GET INSPIRED:Why Diversity is Good for Tech Startups Aiming for Global - by Maelle Nys (OneSky Blog) TASK 1 - Competence profiling TASK 2 - Speed Dating TASK 3 - Dinner when picking up your name badge choose the right colour sticker according to your main competence: green - business; red - marketing; blue - IT; yellow - design; white - other. in 4-minute slots, talk to different people in your business field to pitch yourself to each other to find and match the best potential team members. gather the group of people that you would like to team up with and go to dinner together. paste the sticker onto your name badge next to your name - and wear your badge. you have 4 minutes for a discussion with one person (= 2 min per person in a pair). The Time Keeper will notify you when to move on to the next partner. go to the meeting area of participants of your business field (designated by sign) for the Speed Dating game. take photos of people’s name tags with your smartphone to keep track of who you have met and who you would like to team up with. PRE-PROGRAM GOALS: Meet your fellow participants and potential team members TASKS: Competence profiling - Speed dating TOOLS: Colour coded name badges Any entrepreneur will tell you that the most crucial factor in a success or a failure of a startup is the team. Therefore, it is essential that you know as much as possible about your potential team members - their professional competences, cultural background, personality traits, personal preferences, and behavioural specificities. Use this informal Meet Greet time wisely to spot and impress potentially the best team mates and get them on board to work with you! Keep in mind that diversity in any sense - in terms of skills, gender, cultural background, personality types etc - may seem intimidating at first but almost always works for your benefit in the longer run. 10 JULY, SUN MEET GREET DAY
- 9. 1st WEEK 9 TASK 1- Team Formation TASK 2 - Ideation go to a Team Work Room of your business field. if you have a team of 5 formed already: occupy a free table with your team. if you don’t have a team of 5 formed yet: either find a team with missing members and join, or find people still looking for a team and ask them to join your team introduce yourselves if you have new members in your team Ask a Chief Mentor for help, if needed. if you have a TEAM NAME registered on the EIA platform - write it on the board on your table and put it in a visible place for your Mentor to find you! use EIA Idea Cards to discuss and describe your ideas. if your team has an idea agreed already: each team member describes the idea according to their understanding present discuss your viewpoints develop the idea further skip the idea assessment in the scoring table if your team does NOT have an idea agreed yet: each team member describes their idea on the EIA Idea Card present and discuss the ideas in your team go through the idea assessment (use the scoring table) jointly select the one idea that you want to develop at EIA. if you still can not find a team to work with go to Team Formation SOS Session to Chief Mentors’ Room at 6pm. GET INSPIRED: The Secret Phrase Top Innovators Use - by Warren Berger (HBR) 11 JULY, MON DAY 1 - TEAM FORMATION DAY BUSINESS GOALS: Team of 5 members is formed (max 2 developers) TASKS: Team formation - Ideation TOOLS: EIA Idea Card The goal of this day is to form teams of 5 people that share a passion to solve the same problem and work towards the same goals. On top of that, you’ll have to demonstrate excellent team dynamics in your daily teamwork and have to feel that you would go to the end of the world with your team members. To put together that dream team you need to revisit and thoroughly re-discuss all the potential problems on the table - and their possible solutions. This helps you see and decide who you would best fit together with. BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → update your team membership status. If your team is completed, the idea uploader has to confirm the team members.
- 10. 1st WEEK 10 BUSINESS GOALS: Business ideafine-tuned TASKS: Online evidence search - Idea development - Team roles planning TOOLS: Google tools - Ideation Instructions - Team Roles Template Problem-solution fit means that you have evidence that customers care about certain problems (pains/gains) and that you have designed a solution that addresses those problems. Customer problems (pains) are anything that prevent customers from getting a job done smoothly. “Good” customer problems are: problems/pains/passions that many others have problems that occur often enough (toothbrush test - 2 x a day) problems that are serious enough so that customers are ready to pay to get (rid of) them If you succeed in finding a truly unique problem that nobody has tried to solve yet you can grow 10 X instead of 10% per year. 12 JULY, TUE DAY 2 - PROBLEM-SOLUTION FIT DAY TASK 1 - Online Evidence Search (1h 20min) TASK 2 - Idea Development (1h 20min) TASK 3 - Team Roles Planning (10 min) if you have a TEAM NAME registered on the EIA platform - write it on the board on your table and put it in a visible place for your Mentor to find you! use Google tools to search for online evidence about your problem and solution: Popularity and relevance of keywords describing your problem and solution (Google Trends, Google AdWords Keyword Planner) Competition and similar solutions existing already (Google Search, YouTube, Google Patent Search) Alternative solutions existing already (Google Search). This is your first Moment of Truth - if you have found your 10 X idea and should continue fine-tuning it, or you have to choose a new one. And then do an online check again! if you found good online evidence to continue with your initial idea, apply the Problem Redefinition ideation technique to develop it further (see instructions). on the template, discuss through and divide your team roles and responsibilities. On top of your professional skills take into account your different personality traits and individual strengths and weaknesses. if you still can not find a team to work with go to Team Formation SOS Session to Chief Mentors’ Room at 6pm. GET INSPIRED: The 7 All-time Greatest Ideation Techniques - by Chuck Frey (Innovation Management) BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → update your team membership status - the idea uploader has to confirm the team members. → upload the filled Team Roles Template to your Team page.
- 11. 1st WEEK 11 BUSINESS GOALS: Solution-Customer-Market fitidentified TASKS: Customer description - Target market selection TOOLS: Customer Persona Template - Markets Template Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)! Product-market fit takes place when you have evidence (data) that your solution (product, service) is actually creating customer value your product scales in the market. Basically it means being in a good market with a product that can satisfy that market. In a great market - a market with lots of real potential customers - the market pulls the product out of the startup. Lack of market is the #1 startup-killer and neither a stellar team nor a fantastic product will redeem a bad market. 13 JULY, WED DAY 3 - CUSTOMER DEVELOPMENT DAY BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → update your team membership status - the idea uploader has to confirm the team members. → upload the filled Team Roles Template to your Team page. TASK 1 - Customer Description TASK 2 - Target Market Selection Use the template to describe your global customer (B2B or B2C) and customise your solution. Design your customer as detailed as possible - you’ll need to talk to him/her on Friday to validate your idea. The target market is the actual customer group to which your business will attempt to sell its products and services. For the target market definition, consider geography and industry segments. Use the template to select the market with the biggest potential and define your target market. GET INSPIRED: Market selection - How to Select a Target Market for New Product Launch - Motarme Customer persona - Personas for Needfinding, Design Growth - by Alexander Cowan NB!
- 12. 1st WEEK 12 BUSINESS GOALS: MVP (MinimumViable Product) prototype is ready for product development TASKS: Sketch a storyboard - Build a paper prototype - Prepare for customer validation TOOLS: MVP Checklist - Paper prototyping toolkits (for web+mobile and physical) - Test Learning Card - Surveymonkey - popapp.in Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)! Paper prototyping is mostly known for prototyping user interfaces but can also be used to make customer journeys, visualize ideas or just to have some fun. People say a picture is worth a thousand words. If that’s true, a prototype is worth a thousand pictures. Prototyping on paper is cheap, allows rapid iteration, increased creativity and engages all team members in making their idea tangible. 14 JULY, THU DAY 4 - PROTOTYPING DAY BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload the images of your paper prototype to your Team page. TASK 1 - Sketch a Storyboard TASK 2 - Build a Paper Prototype TASK 3 - Customer Validation Preparation draw a storyboard with up to 15 frames. Start with an opening scene where customers/users find your solution and add all other scenes. Click here to get instructions. use this template to make sure that your product will be the most minimalistic version of your solution still delivering great value to your customer (MVP). Aim to build the prototype around 1 product feature or functionality only. For validation by testing: prepare the Test Learning Card for validating your problem and solution with your customers tomorrow via testing hypotheses. storyboarding means sketching an actual situation showing how a user would use your solution (e.g. web, mobile app, product): - where (s)he clicks - what info (s)he enters - what (s)he thinks etc. based on the storyboard, define and prototype the individual interactions (screens) on paper. For validation by customer interviews: prepare a questionnaire on Surveymonkey for collecting more detailed customer feedback - use these questions for reference. Digitalise your paper prototype with popapp.in GET INSPIRED: Prototyping - Prototyping for Web and Mobile Workshop - by Simon Phillips (Slideshare) Customer validation - How to Interview your Customers - Customer Development Labs NB! NB! Sign up for Chief Mentor Office Hours between 18h00 - 20h00! NB! Teams with B2B solutions: schedule calls and meetings for tomorrow - find the right people within organisations (decision makers).
- 13. 1st WEEK 13 BUSINESS GOALS: Problem,solution customer validated TASKS (WHOLE DAY): Customer feedback collection (GO OUT OF THE BUILDING!) - Customer feedback analysis (and pivoting) - Plan next week TOOLS: Craigslists - Test Learning Card - Customer Validation Questionnaire Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)! Before starting product development you have to validate the problem and the solution with your customers. As a startup, by definition you’re making many assumptions and you need to validate these as early as possible to avoid spending time and money on building something nobody wants. Validation also forces you to get in touch with your users which could save you the pain of building a product that is hard to use or understand. Customer validation will help you figure out if people will buy your product before you build it. 15 JULY, FRI DAY 5 - CUSTOMER VALIDATION DAY BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. TASK 1 - Customer Feedback Collection TASK 2 - Customer Feedback Analysis Pivoting TASK 3 - Plan Next Week go out of the building with your prepared Customer Validation Questionnaire to talk to your customers. read each comment carefully but identify patterns and trends rather than making conclusions based on individual comments. on the EIA platform on your Team Worksheet of the next week, plan and divide your daily tasks between your team members and divide your work load. for online validation with Test Learning Cards, this advice helps you find people on social networks. Craiglists allows testing with a “fake” announcement. be careful to treat the collected feedback with “the mom test” filter - your mom and close friends will always lie to you to give you answers that they think you expect. plan Product Sprint using this guide. Define your sprint track based on what you will be able to deliver - Mobile App, Web App, or Prototype Only. Check for recommendations from your IT Mentor in the comments under your Lean Canvas on EIA platform. your aim is not to get a specific number of validations but a consistency in them that allows making conclusions - if 14 out of 15 first customers validate your hypothesis, it is safe to conclude that it was correct. This is your second Moment of Truth: no validation = choose a new idea! If your assumptions are not validated you have to pivot (= change direction) - either you have chosen a bad problem, proposed a weak solution, or targeted a wrong customer. Remember that you are looking for a 100M eur idea! GET INSPIRED: Validate or Die: Using Validation to Build the Right Product - by Kunal Punjabi (Mind The Product) NB!
- 14. 14 2nd WEEK MARKETING CAMPAIGN PRODUCTSPRINT Lead questions for your Mentors this week: Chief Mentor How to validate and scale your business model? Marketing Mentor How to launch a kick-ass marketing campaign in just 3 days? IT Mentor How to develop in a lean mode to launch the MVP (Minimum Viable Product) on Friday? Design Mentor How to design a unique user experience?
- 15. 15 2nd WEEK BUSINESS GOALS: Revenuemodel designed TASKS: Design revenue model - Prepare marketing strategy draft TOOLS: Monetisation Cards - Revenue Model Decision Tree - Marketing Strategy Template PRODUCT GOALS: MVP 1.1 concept ready - Accounts created TASKS: According to your track TOOLS: According to your track BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload the filled Marketing Strategy Template to your Team page. TASK 1 - Design Revenue Model for Your Business use the Revenue Model Decision Tree to define the best fitting revenue model for you. Use Monetisation Cards to study different models with examples and design your revenue model. visit Revenue Model Clinic for expert advice between 12.00 – 18.00 (pre-register) TASK 2 - Prepare Marketing Strategy Draft busing this questions as a guide, draft your marketing strategy to be discussed with your Marketing Mentor on Wednesday. Focus on the key points to get 1000 users/ customers by the end of EIA. GET INSPIRED: Revenue Model - 6 Drivers That Determine Your Revenue Model - by George Deeb (The Next Web) Marketing strategy - 15 Early Traction Growth Hacking Strategies For Startups - by Stuart McKeown (Gleam) When building your solution use as many existing components as possible from the web (templates, libraries from github, etc.) Your revenue model describes how you make money. A strong revenue model is particularly important for early stage startups as their potential investors are usually very conscious of monetisation. They look for the frequency of the revenue stream, and whether or not it is recurring and easily predictable. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB! Mobile App Web App Prototype Only (no coding) TASK 1. Confirm your Product Sprint week plan with your IT mentor 2. Make an account for App Store / Google Play 3. Build screens with navigation 4. Share the app with your team using Fabric 1. Confirm your Product Sprint week plan with your IT mentor 2. Set up a server 3. Build pages with navigation 4. Upload the website for your team 1. Confirm your Product Sprint week plan with your IT mentor 2. Build pages for prototype 3. Share prototype with your team TOOLS 1. Ionic/XCode/ Android Studio 2. Firebase 3. Fabric 1. Brackets 2. Firebase/Heroku 1. Sketch (for Mac only)/Adobe Xd/ Proto.io 2. Marvel App / Invision App 18 JULY, MON DAY 6 - REVENUE MODEL DAY PRODUCT SPRINT
- 16. 16 2nd WEEK BUSINESS GOALS: Businessmodel completed scalable for growth TASKS: Complete your business model TOOLS: Business Model Testing Template PRODUCT GOALS: 30% of functionality completed TASKS: According to your track TOOLS: According to your track BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload the filled Business Model Testing Template to your Team page. TASK 1 - Complete Your Business Model re-visit and finalise your business model on Lean Canvas on EIA platform - keeping the value proposition in focus! Your business model must be designed for fast growth and global scalability. Assess your business model and its scalability by using this tool. GET INSPIRED: +30 Business Revenue Model Examples - Board of Innovation Today is your last chance to pivot. The fastest way to get back on track after pivoting is using existing components from the web - Github for code, Firebase for back-end, Sinch for chat etc. Don’t spend time on building something that exists already! Business model fit takes place when a value proposition is embedded in a profitable and scalable business. Some business models are better than others by design and produce better financial results. They are more difficult to copy and more likely to support growth. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB! Mobile App Web App Prototype Only (no coding) TASK 1. Continue building and testing the app 2. Add back-end support 1. Continue building and testing the site 2. Add back-end support 1. Continue building and testing the prototype 2. Make views navigable TOOLS 1. Ionic/XCode/ Android Studio 2. Firebase 3. Fabric 1. Brackets 2. Firebase/Heroku 1. Sketch (for Mac only)/Adobe Xd/ Proto.io 2. Marvel App/ Invision App 19 JULY, TUE DAY 7 - GROWTH DAY PRODUCT SPRINT
- 17. 17 2nd WEEK BUSINESS CUSTOMER GOALS: Marketing strategy defined - Marketing campaign designed - Landing page ready TASKS: Define marketing strategy - Design marketing campaign - Build landing page TOOLS: Sales Messaging Cheat Sheet - Marketing Campaign Template - Content Plan Template - Launchrock.com PRODUCT GOALS: 60% of functionality completed - Landing page up TASKS: According to your track TOOLS: According to your track BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload the Marketing Campaign Plan and the Content Plan to your Team page. TASK 1 - Define Marketing Strategy based on the template prepared on Monday, discuss your marketing strategy with your Marketing Mentor to define the best strategy for your business. TASK 2 - Design Marketing Campaign based on the strategy, define your marketing campaign plan in this template. This table helps you develop a content plan for social media usage. TASK 3 - Build Your Landing Page create a landing page with a clear value proposition on Launchrock. Follow instructions from Sales Messaging Cheat Sheet to write compelling sales messages. GET INSPIRED: Marketing campaign - A Step-by-Step Guide to Running Successful Marketing Campaigns - by Amanda Durepos (Unbounce) Landing page - ASP 43: How to Create Kick Ass Landing Pages - Authority Pub Landing page is important for gathering leads for the launch. Most of your solution should be ready by that time. Your marketing strategy and go-to-market plan must address four crucial aspects: What will you sell? (solution unique value proposition) Who will you sell to? (customer segment) How will you reach your target market? (distribution channels, partners, etc) Where will you promote your product? (marketing channels) Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB! Mobile App Web App Prototype Only (no coding) TASK 1. Continue building and testing the app 2. Build and publish a landing page 1. Continue building and testing site 2. Build and publish a landing page 1. Continue building and testing the prototype 2. Build and publish a landing page TOOLS 1. Launchrock 1. Launchrock 1. Launchrock 20 JULY, WED DAY 8 - MARKETING STRATEGY DAY PRODUCT SPRINT
- 18. 18 2nd WEEK BUSINESS CUSTOMER GOALS: Marketing campaign preparation at full speed TASKS: Configure Google Analytics - Create marketing campaign according to your marketing campaign plan TOOLS: Google Analytics PRODUCT GOALS: Solution ready for uploading by the evening - Bug testing TASKS: According to your track TOOLS: According to your track BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. TASK 1 - Configure Google Analytics for Landing Page follow instructions from your today’s lecture and slides TASK 2 - Create Marketing Campaign According to Marketing Campaign Plan build marketing campaign for social media channels according to your Content Plan, or build Google AdWords campaign, follow instructions from today’s lecture, or fulfill other tasks according to your marketing campaign plan NB! Sign up for Chief Mentor Office Hours between 18h00 - 20h00! GET INSPIRED: Google AdWords - How to Create a Profitable Google AdWords Campaign (from Scratch) - by Phil Frost (KISS Metrics) Social media campaign - A Cheat-Sheet for Creating the Best Social Media Campaigns EVER! - by Scott Ayres (Post Planner) Publishing an Android app might take a few hours, publishing an iOS app a few days or even a week. Use Expedited App Review for time-sensitive events to shorten the review and publishing process. Use Fabric to avoid waiting for App Store’s review cycle and send the app link directly for testing. To achieve measurable results with your marketing, you need to treat every single one of your marketing activities as a marketing campaign. It means that for every single project you’ve got to set clearly defined goals, a finite start and end date, and a means of tracking success (and failure). Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB! Mobile App Web App Prototype Only (no coding) TASK 1. Finalise the app 2. Publish it to the App Store via Expedited App Review. 3. Send for limited testing to collected emails using Fabric 1. Finalise the website 2. Publish it for limited testing 1. Finalise the prototype 2. Publish it for limited testing TOOLS 1. ITunesConnect/ Fabric/Test Flight 1. Firebase/Heroku 1. Adobe Xd/Proto. io/Marvel App / Invision App 21 JULY, THU DAY 9 - MARKETING CAMPAIGN DAY PRODUCT SPRINT
- 19. 19 2nd WEEK BUSINESS CUSTOMER GOALS: Marketing campaign launched! - First customers/users acquired TASKS (WHOLE DAY): Submit solution to Product Hunt - Launch marketing campaign - Request influencer tweets TOOLS: Product Hunt - Launch Checklist - Mailchimp PRODUCT GOALS: Product launched and live! - Prototype finalised! TASKS: Finalise bug testing - Prepare for solution demo TOOLS: (demo tool provided by EIA) BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload your app or prototype link and your influencers list to your Team page. TASK 1 - Submit Your Solution to Product Hunt Product Hunt is a website of the best new mobile apps, websites, and technology products that everyone's talking about. Submit your solution there to gain visibility, follow instructions from here. TASK 2 - Launch Your Marketing Campaign finalise and launch the campaign that you have started this week to get your first 1000 users/customers. Use Launch Checklist for keeping track of what to do. run mass mailing with Mailchimp to promote your solution. TASK 3 - Request Influencer Tweets create an influencers list and contact them to generate tweets for your solution to get maximum impact. Ask your Mentors for contacts! GET INSPIRED: Marketing campaign launch - The Product Launch Checklist Influencer marketing - The Definitive Guide to Influencer Targeting - by Kristen Matthews (KISS Metrics) Your solution and campaign launch feels like the Super Final but it’s really only the start of the season - of building a successful business. Your first MVP is highly unlikely to be the final version and there’s a lot of build-measure-learn iteration that goes into making the next Uber, Airbnb or Google - so, heads up! Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB! 22 JULY, FRI DAY 10 - LAUNCH DAY! PRODUCT SPRINT Mobile App Web App Prototype Only (no coding) TASK 1. Test and fix bugs, make last minute changes and improvements 2. Upload updated product - new submission to AppStore, if needed 3. Be ready to demo your solution - 10 teams will get an opportunity to do so 1. Test and fix bugs, make last minute changes and improvements 2. Upload updated website 3. Be ready to demo your solution - 10 teams will get an opportunity to do so 1. Test and fix bugs, make last minute changes and improvements 2. Update live prototype 3. Be ready to demo your solution - 10 teams will get an opportunity to do so TOOLS 1. Demo tools by EIA 1. Demo tools by EIA 1. Demo tools by EIA
- 20. 20 3rd WEEK FUNDING PITCHING Lead questions for your Mentors this week: Marketing Mentor How to get 1000 users/ customers by pitching day? IP Lawyer How to protect a solution and business from competitors? Investor How to deliver a perfect pitch and get funding?
- 21. 21 3rd WEEK GET INSPIRED:Campaign improvement - 10 Solutions To Fix Your Busted Marketing Campaigns - by Oli Gardner (Unbounce) IP strategy - Does Your Mobile App Need a Patent? - by Rahul Varshneya (The Next Web) TASK 1 - Improve Marketing Campaign TASK 2 - Design IP Protection Plan TASK 3 - Plan Your Last Week on EIA Platform check and analyse Google Analytics and other tracking data (social media channels) to identify and address your marketing campaign issues. use the template to draft a plan to protect your intellectual property and review it with IP Mentors for fine-tuning. on EIA platform on your Team Worksheet, plan and divide your daily workload and tasks between your team members. Keep in mind that you will have to prepare and rehearse your pitch this week. re-visit and adjust your messaging (focus on benefits instead of features, see template from Day 8). A/B testing with your landing page gives you good insight. conduct a patentability search (US Patent Trademark Office, Google Patents) to learn if your solution has already been patented. As in Europe software and mobile apps are not patentable, search trademarks and copyrights instead. review your marketing tools and channels selection to focus your efforts on those that work best. visit IP Clinic for expert mentoring between 11.30 – 18.00 (Mon – Tue) (pre-register). grow the volume of your marketing campaign at least 3 times! Implement the improved and bigger campaign! It’s only worthwhile though if you have reached the Problem-Solution- Customer fit. 25 JULY, MON DAY 11 - MARKET TRACTION DAY BUSINESS CUSTOMER GOALS: Marketing campaign improved TASKS: Improve your marketing campaign to get more customers/users - Start creating IP Protection Plan - Plan your week TOOLS: Google Analytics, FB and other tracking tools - Other campaign tools - IP Protection Plan Template BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → upload the filled IP Protection Plan Template to your Team page. Market traction is quantitative evidence of market demand and it shows momentum in market adoption. This is usually the first and the most important indicator that the investors want to see. It means that somebody really wants your product. If your marketing isn’t generating enough leads it means that it’s not working. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB!
- 22. 22 3rd WEEK GET INSPIRED: Traction - How 23 Web Mobile Startups Got Their First Users - Autosend Pitch deck - The 9 Best Startup Pitch Decks of All Time - by Renee Warren (Onboardly) TASK 1 - Finalise IP Protection Plan TASK 2 - Improve Marketing Campaign TASK 3 - Start Preparing Pitch Deck update the template of your plan to protect your intellectual property and discuss it with IP Mentors in IP Clinic for fine-tuning. like yesterday, review your marketing campaign and find ways to improve its efficiency to get you more customers faster: analyse online tracking data fine-tune your messages check your tools and channels to identify the most valuable ones. start building your pitch deck on the template provided. Remember that you have only 2 minutes for your pitch - customise the content accordingly to fit in. visit IP Clinic between 12.00 – 18.00 (pre-register) for expert mentoring for finalising your IP Protection Plan. now grow the volume of your marketing campaign at least 3 times more! Implement the improved and bigger campaign! visit Pitch Clinic between 11.30 – 18.00 (Tue-Wed) (pre-register) to get your most urgent pitching-related questions answered. 26 JULY, TUE DAY 12 - INTELLECTUAL PROPERTY DAY BUSINESS CUSTOMER GOALS: Plan created to protect your business from copying TASKS: Finalise IP Protection Plan - Improve marketing campaign to get more customers/users - Start preparing pitch deck TOOLS: IP Protection Plan Template - Google Analytics, FB and other tracking tools - Pitch Deck Template BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → update the IP Protection Plan Template on your Team page. → upload the Pitch Deck draft in the dedicated space on your Team page. Why and how to protect the critical aspects of your IP in the early stages of company development?All startups need to think not only about patenting their solution, but of their employees, contractors and suppliers, customers, and possible partners as part of their IP strategy. You also need to integrate your IP strategy into your pitch to secure funding. A study of perfect pitch decks shows that investors spend an average of 3 minutes 44 seconds on viewing them. The most important slides are the financials, team and competition. Experienced investors weed out good ideas from the bad ones within the first minute, so keep your pitch and slides simple and captivating. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB!
- 23. 23 3rd WEEK GET INSPIRED: No Accounting For Startups - by Steve Blank TASK 1 - Calculate Financial KPIs TASK 2 - Continue Preparing Pitch Deck calculate the listed financial metrics, integrate the most relevant of them into your pitch deck and be ready to answer the investors’ questions about the rest. continue building your pitch deck. Visit Pitch Clinic between 12.00 – 18.00 (pre- register) to get expert advice from Pitch Coach. start rehearsing your pitch. You can choose who from your team will present the pitch but the whole team has to be on stage on the Pitching Day. NB! Fill in this one-pager summarising your project and upload it to the Pitch Deck Slides section of your Team page on EIA platform. This document will be #1 info source about you and your project for the investors before meeting you tomorrow and on Friday! 27 JULY, WED DAY 13 - FINANCIALS DAY BUSINESS GOALS: Financial KPIs calculated TASKS: Calculate financial KPIs - Continue preparing pitch deck TOOLS: Pitch Deck Template - Project One-Pager BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas. → update the Pitch Deck on your Team page upload the Project One-Pager - to the dedicated Pitch Deck area on your Team site. Traditional finance focuses on planning and budgeting, startup finance is focused on monitoring and validating. Therefore, you as a startup need metrics to evaluate whether the business model you designed is worth scaling into a company. In this very early stage you need to monitor five areas of key performance indicators (KPIs), in addition to standard monthly financial reports: Cash: Burn/ Runway Product: Customer Satisfaction Marketing: Efficiency/ Cost per lead/ ROI Sales: Productivity/ Conversion rate/ Sales cycle Customer: CAC/ Profitability/ Growth rate of customer base/ Churn. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)!NB!
- 24. 24 3rd WEEK GET INSPIRED: Funding - 7 Ways to Fund Your Startup Pitching - 65 Questions Venture Capitalists Will Ask Startups - by Richard Harrock (Forbes) TASK 1 - Create Funding Strategy TASK 2 - Finalise Pitch Deck Rehearse Pitch answer the questions in this template to define the most suitable funding strategy for your business: Bootstrapping (savings, credit cards) Family/ Friends/ Fools (FFF) Crowdfunding (traditional or equity) Business Angels This guide will help you answer the questions. finalise your pitch deck, include the latest data of market traction. Keep rehearsing your pitch until you can nail it each time! Learn from the best ever startup pitches. be clear about how much money you need and for what exactly. visit VC Clinic between 15.00 – 17.00 (pre-register) to get valuable input for your pitch preparation from an investor. 28 JULY, THU DAY 14 - FUNDING DAY BUSINESS GOALS: Funding strategy defined - 1000 customers/users acquired - Ready for the Pitching Day! TASKS: Create funding strategy - Finalise pitch deck rehearse your pitch TOOLS: Funding Strategy Template - Pitch Deck Template BEFORE 20h00 @ EIA platform → write your daily report on your Team Worksheet and update your Lean Canvas - your final business model that you will pitch tomorrow. → upload the filled Funding Strategy Template to your Team page, and update your Pitch Deck - in the dedicated space. → upload proof of market traction on your team page. Every startup needs capital, whether for funding product development, for initial launch efforts, acquiring inventory, or paying that first employee. The most successful entrepreneurs are the ones who think creatively not only about their offering but also about how to acquire cash. Put your team name sign on your table! Divide today’s tasks and workload between your team members (fill Worksheet on EIA Platform on your Team page)! Today midnight your 1000 customers/users count will end! Upload the proof of your market traction (screenshots of web analytics, mobile downloads, list of subscribers, official documents or emails sent by companies, etc) to EIA platform to your Team page! NB! NB! Incubators/ accelerators Venture capital (VC) Partnerships Combined
- 25. 25 3rd WEEK Assessment Criteria -Opportunity (proof of problem/solution fit) - Traction (proof of product/market fit) - Scalability (proof of business model fit) - Team execution - Presentation DAY AGENDA 10h00-10h10 Welcome Day Overview 10h20-12h00 Pitching Carousel Round 1 (each team meets 3 investors) Lunch 13h30-14h30 Pitching Carousel Round 2 (each team meets 2 investors) Break 15h00-17h00 EIA Grand Pitching: Top 10 + Winners Awards! 17h00-20h00 EIA Graduation Cocktail 29 JULY, FRI DAY 15 - PITCHING DAY! BUSINESS GOALS: Funding acquired! Making an impression to the investors within the first seconds of your appearance and pitch will be crucial and can mean everything for your future business success - or failure! When you are able to pitch like a boss, it means that you are able to talk and sell your ideas - to anyone anytime, and anywhere, be it Warren Buffett himself. Often, how you pitch may become even more important than what you pitch. Therefore - go up there, rock the stage, pitch like a boss raise the money! Carousel format: 2 + 2 + 2 min (2 min pitch + 2 min questions from investor to team + 2 min questions from team to investor) Grand pitching format: 2 + 4 (2 min pitch + 4 min questions from investors)
- 26. EPILOGUE You have madeit at EIA! Now go and make it happen outside! Use the start-up capital wisely for scaling and levelling up your business. Leverage your early customers to move from MVP to the next level. Keep and grow your network of mentors, advisors, and supporters. Use the expertise of your investors. And remember - it still remains mainly about the team! You dreamt big - now dream even bigger!
- 27. THANK YOU! In PartnershipWith Visit us at www.inacademy.eu