Preparing your startup idea. Yrjö Ojasaar (workshop 1)

Serial entrepreneur and mentor Yrjö Ojasaar delivers a straightforward and practical session on things you can do behind your desk to prepare your startup idea.

Click the timecode to play from a specific topic:
2:00 Why pilots and doctors make checklists?
3:34 Yrjös life story in 60 seconds
7:12 The structure of the workshop: preparing, testing, execution
7:50 Recommended reading (Business Model Generation, The Lean Startup, The Four Steps to the Epiphany, Crossing the Chasm)

9:15 PREPARATION
11:12 People - who are really the guys you want to be working with?
17:20 Time - are everyone on the team willing to commit their time?
17:54 Motivation - do we really want to do it?
19:22 Money = runway

Checking PROJECT IDEA
20:15 Idea is just something to build upon
22:34 Create a demo - keynote or ppt to show people what your idea would look like
24:22 Alpha and Beta to test it out (you are likely to change these later). Then go live.

Checking INFO
26:03 Target Customer - who is it created for?
28:46 Target Market - going global, thinking bigger
32:13 Trends - understanding the new "hot items"
36:08 Competition research - there is always competition and substitute products
39:51 Q&A - worrying too much about the competition? They are reference.

TESTING HYPOTHESIS
41:42 Customer pain (to be verified - until getting actual sales, you are only guessing)
43:33 Proposed solution - how do we solve the problem?
44:12 Distribution and Pricing - how will people find out about your app?
46:05 Budget - how much money we think we are going to have?
46:48Target Market - how big could it be?
46:58 Defining your market: Total Available Market, Served Available Market, Target Market
51:20 Product Hypothesis: Benefits, Features (focused), Delivery Schedule, Intellectual Property (IP agreement), Dependency Analysis (things you have to wait for or regulations that can slow you down)

58:55 Risk Analysis: what if...? Shareholders agreement, competition, trends, economy.
1:03:35 Q&A - What happens if Google does the same thing?

Liked it? Check the second part of the workshop on testing your idea: http://youtu.be/ViEIP0qSqCs

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http://start-smart.me/ - a series of events targeted at aspiring entrepreneurs from Estonia and Finland.

Yrjö started his career as an attorney at a prestigious international law firm, representing Fortune 500 companies in various state and federal courts.
Yrjö's entrepreneurial experience includes serving as the CEO of a Finnish cleantech and advanced optical coatings company, advising US investors regarding financing and structuring projects in Mexico, investing and serving as a Board Member on several other software and technology companies.

Here Yrjö is leading a practical workshop where the participants - startuppers and entrepreneurs - created their startup's roadmap for entering the global markets. Exercise was guided besides Yrjö by other experienced mentors - the best ones StartSmart! organization could find.

@StartSmart! event Roadmap2GlobalMarkets www.start-smart.me
Visit our Facebook page! https://www.facebook.com/StartSmartMe

Investing in your future! StartSmart! events are a part of FINEST Startups project and the activities can take place thanks to the co-financing by the Central Baltic Interreg IV A 2007-2013 programme.

The material on the website reflects the authors views and the Managing Authority cannot be held liable for the information published by the project partners.

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