10 Steps to Start A Successful Online Business
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A presentation for Universitas Kristen Petra alumni gathering (Electrical Engineering major) on how to start a successful online business. -- dated May 6, 2017
10 Steps to Start A Successful Online Business
- 1. 1010steps TO START A @epramono @epramono SUCCESSFULSUCCESSFUL ONLINE BUSINESS
- 2. 1 KNOW WHAT MAKES A BUSINESS SUCCESSFUL
- 3. You save your customers time You save your customers money You allow your customer to make more money 3 CHARACTERISTICS OF A SUCCESSFUL BUSINESS
- 4. 2 FIND YOUR INTENDED AUDIENCE
- 5. You dont 鍖nd customers for your products. You 鍖nd products for your customers. - Seth Godin
- 6. 3 CHOOSE AND ON ONE INDUSTRY WHERE YOU EXCEL MOST FOCUS
- 7. Self-aware. Stay in your lane. Bet on your strengths, and ignore your weaknesses. - Gary Vaynerchuk
- 8. Software-as-a-Service (SaaS) General Purpose Websites/Blogs Social Websites (Forum, Q&A) Online Shopping Internet TV Mobile Apps Portal/News Websites 7 MOST SUCCESSFUL ONLINE BUSINESSES
- 9. People think focus means saying yes to the thing you've got to focus on. But that's not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. - Steve Jobs
- 10. 4 MAKE SOMETHING THE AUDIENCE IN YOUR INDUSTRY WANT
- 11. Without money moving from one person to another, there is no business. A successful business requires a paying customer.
- 12. Advertising Premium Membership Public Donation E-commerce SaaS Transaction Fees Physical/Virtual Products 7 ONLINE REVENUE MODELS
- 13. Life is too short to build something nobody wants. - Ash Maurya
- 15. What you need to know to succeed in a startup is not expertise in startups, what you need is expertise in your own users. - Paul Graham
- 17. Not enough customer interviews Customer problem/need/pain is not validated The pain is ranked too low in the customers perspective TOP 3 MISTAKES
- 19. The art of being a great entrepreneur is 鍖nding the right balance between vision and reality. - Giff Constable
- 21. Our goal is to 鍖nd a homogenous group of target end-users/customers who experience a similar problem, and who would pay similar amounts of money for the solution.
- 22. Start with one early adopter Talk individually to each early adopter Learn from them Dont build your business based on assumptions FINDING YOUR AUDIENCE
- 24. CONCEPT: CROSSING THE CHASM
- 26. TOOLS: VALUE PROPOSITION CANVAS
- 27. CONCEPT: MINIMUM VIABLE PRODUCT
- 28. When Sergey and I founded Google, we hoped, but did not expect, it would reach its current size and in鍖uence. Our intense and enduring interest was to objectively help people 鍖nd information ef鍖ciently. - Larry Page GOOGLE: 1996
- 29. Weve had three big ideas at Amazon that weve stuck with for 18 years, and theyre the reason were successful: Put the customer 鍖rst. Invent. And be patient. - Jeff Bezos AMAZON: 1999
- 30. Im here to build something for the long-term. Anything else is a distraction. - Mark Zuckerberg FACEBOOK: 2004
- 31. 7 BUILD, MEASURE, LEARN, EVOLVE, ITERATE
- 33. By testing, each failed hypothesis leads to a new pivot, where we change just one element of the business plan (customer segment, feature set, or positioning) -- but don't abandon everything we've learned. - Eric Ries
- 34. As you start building the product, dont assume that you know all the answers. Listen to the community and adapt. - Chad Hurley YOUTUBE: 2005
- 36. A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty. A lean startup is a startup that continuously work to eliminate any uncertainty.
- 37. 8 CREATE YOUR BUSINESS MODEL
- 38. No business plan survives the 鍖rst contact with customers. - Steve Blank
- 39. TOOLS: BUSINESS MODEL CANVAS
- 40. CONCEPT: BUSINESS MODEL FIRST, BUSINESS PLAN LATER
- 42. Calculate and reduce your operating expenses to bare minimum Be creative and make adjustments Win people in your network one at a time Always ask for referrals Explore possibilities for other revenue models ACHIEVING NET OPERATING PROFIT
- 43. MILESTONE 3 BUSINESS MODEL FIT
- 44. FOCUS ON SPEED, GROWTH, AND SCALE10
- 45. Stay pro鍖table Ensure repeatability Aim for scalability 3 GOALS IN BUSINESS
- 46. 63% of small business owners feel overwhelmed with the number of technologies available to run their business.
- 48. 1010steps TO START A @epramono @epramono SUCCESSFULSUCCESSFUL ONLINE BUSINESS