#SEFI @Founding

So You Have a Startup Idea?

Startup Ideation 101
Joel Espelien - @EspelienJB

Dave Parker - @DaveParkerSEA

Agenda
What investors look for?

Big Ideas/ Big Market

Business model?

7 Rules
Example

BREAK
Your Turn

Rules of the Road

Dont Ramble Ill interrupt Network you need to build your network Apply http://fi.co/join/bootcamp

Application Fee is Waived before Sept 2 Early

Admission Deadline

http://fi.co/join/bootcamp
15 Week Program with Local and SV Mentors Ideation to fundraising Office hours/Individual coaching

Tuesday night meals

Costs *see FAQ
$50 Application Fee/Test Waived $995 Course Fee 3.5% of company into shared pool (peers, mentors and FI) Post funding tuition - $4,500

Mentors
Andy Liu Todd Hooper Dan Schapiro

T.A. McCann
Rebecca Lovell

Introductions
Joel Espelien Chief Business Officer General Counsel SVP Strategy with Packet Video Active Angel Mentor for TechStars and FI in Spanish Dave Parker Director, Seattle Founder Institute CEO & Co-Founder Bundled.com Co-Founder OneAccord Partners Board Member Guidant Financial Former Board Member Classmates.com

Dont be afraid to share your idea!

Ideas dont matter feedback, execution and iteration do

You have more to gain than to lose

Nobody is going to steal your stupid idea Dont ask an Investor to sign your NDA

Most of you have bad ideas, anyway.

Really.

How Investors See You

Big Market/Big Idea

Team that can execute Scalable Product Traction

About Markets?
B2B or B2C Billions $100M

If you own the market how big would your be

Established vs. Immature Market Leader vs. First Mover

Known or unknown
Go-To-Market

Big Ideas?
Simple Aha idea Transformational vs. Incremental

Changes the world

Changes the market Established or New Idea

 Passion! Ideas! Product

Doesnt make it a great business Execution Company

13 Consumer Models

13 Consumer Models
TechCrunch Teardown: 13 Consumer Internet Business Models (Part I) The World According To Carp http://fndri.com/jEvuYa - Steven Carpenter
Media Paid Service Physical Commerce

Your idea has to foot to a model! Benchmarks

Your examples
What model will you use? How will you model it

7 Rules

7 Rules
1. Simple ideas win 2. You have one revenue stream 3. Name your customer

4. Make something explainable

5. Small markets suck 6. Mix in secret sauce

7. Be original

Explain Your Idea

Idealibs for Startups

I want to develop

(a defined offering)
(a target audience)

to help

(solve a problem) (with secret sauce)

The Offering
Be Specific
a social utility" vs "an ecommerce website"

Avoid Buzzwords
"mobile social CRM" vs "an iPhone application"

Skip the Adjectives and Superlatives

"a revolutionary service" vs "backend software"

The Audience
Identify Demographics
"female consumers" vs new mothers"

Specify Your Market

"artists and musicians" vs "unsigned alternative bands"

Clarify the Buyer

"large businesses" vs "purchasing managers at multinational companies"

The Problem
Make sure everyone can understand the offering. Hint at a viable revenue model.
"find deals online" vs "shop for hip baby products at wholesale prices"

The Secret Sauce

Explain what makes your business unique.
"faster" vs "with automated ordering for diapers and other staples

BREAK

Your Turn!

Workshop

Step 1: Articulate
I am developing (a defined offering) to help (a target audience)

(solve a problem)

(with secret sauce).

Step 2: Evaluate
Simple idea? Identifiable customer? Large enough market? Original? One revenue stream? Easily explainable? Legitimate secret sauce?

Thank You!

Joel Espelien @EspelienJB

Dave Parker @DaveParkerSEA ForestTreesBark.com

http://fi.co/join/bootcamp Early Admissions Deadline Sept 2nd Final Deadline Sept 23rd Session Starts October 2nd

http://fi.co/join/bootcamp
15 Week Program with Local and SV Mentors Ideation to fundraising Office hours/Individual coaching

Monday night meals

Costs
$50 Application Fee/Test Waived! $995 Course Fee 3.5% of company into shared pool (peers, mentors and FI) Post funding tuition - $4,500