Society3 Business Accelerator

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Information about Society3 Business Accelerator

Published on April 16, 2016

Author: Society3

Source: slideshare.net

1. Society3 Accelerator Welcome #Society3 Day 1

2. 2© Copyright Society3 Refugee Accelerator 2016 #Society3 Presenter Axel Schultze Founder, CEO Society3 Group DR. Joerg Jaecks Laywer, Raue LLP Remi Elias Mekki CEO & Co-Founder MigrantHire Marita Roebkes CoFounder Society3 Group Bettina Vossberg Founder HighTech Startbahn

3. 3© Copyright Society3 Refugee Accelerator 2016 #Society3 Hard to not succeed When you exactly know what you really love, the VISION of it’s outcome will mature rather quickly Then find people who may love what you do – find your audience You will find yourself becoming of great value for at least parts of our society How can you fail?

4. 4© Copyright Society3 Refugee Accelerator 2016 #Society3 Accelerator Objective Learn all about Entrepreneurship & Team building and society The legal framework for your own business Developing your company purpose Developing your own company culture Ability to define your target audience Business model development Ability to achieve product market fit Creating a go-to-market strategy Getting your customer base Financing your business growth

5. 5© Copyright Society3 Refugee Accelerator 2016 #Society3 Silicon Valley Advantage True Innovation Teams learned to disrupt - not only improve Massive Growth Leveraging online networks like no one else Getting attention online versus old PR Learning & Sharing Capabilities Listen, learn, iterate and adjust Leaders in ‘Time to market’ Products are hardened in markets not labs

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8. 8© Copyright Society3 Refugee Accelerator 2016 #Society3 Have co-founders and look for people who augment your weakness - not those who are like you Listen to your gut - you will need to fully trust them Build a dream team, that builds a dream team beneth them and with it an amazing company culture Create the best possible team

9. 9© Copyright Society3 Refugee Accelerator 2016 #Society3 Most important leadership quality Relentless Execution This first requires “Product Market Fit” - execution You need to have a great online presence - execution You & team connect with people daily - execution You will want to grow every day - execution You need a team that is able to deliver - execution

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11. 11© Copyright Society3 Refugee Accelerator 2016 #Society3 LegalRequirements

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14. 14© Copyright Society3 Refugee Accelerator 2016 #Society3 Successful company's visions Nasa / JFK: Bringing a man to the moon and safely back Ford: Democratize the automobile Microsoft: A computer on every desk, in every home Google: Organizing the world's information Computer2000: Changing distribution to indirect only Uber: Click a button, get a ride Zappos: The online shop with the best service Society3: Financing marketplace for the world's innovation Exam ple

15. 15© Copyright Society3 Refugee Accelerator 2016 #Society3 Who will you make happy? What's your vision? You are in business to... The problem you are solving is... The uniqueness about your business is... Over time you will become... With that in mind create a company culture

16. 16© Copyright Society3 Refugee Accelerator 2016 #Society3 company purpose?

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19. 19© Copyright Society3 Refugee Accelerator 2016 #Society3 Company Culture Zappos: A trainee get's $2000 when they quit Facebook: Outdoor meeting areas, lots of free food Infinigate: New team candidates get onto the gray couch celebrating success and growth Exam ple

20. 20© Copyright Society3 Refugee Accelerator 2016 #Society3 What kind of company do you want to be Highly professional always accurate Very casual and easy going Strong leadership with clear job descriptions Flat hierarchy empowering people with unique skills Your company culture will become what clients will call customer experience

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24. 24© Copyright Society3 Refugee Accelerator 2016 #Society3 Defineyourtargetaudience

25. 25© Copyright Society3 Refugee Accelerator 2016 #Society3 BlueRoads Companies bigger than 200 employees Having a product that ideally sells through reseller Average product price less than $10,000 No particular direct sales affinity More than 100 reseller established Exam ple

26. 26© Copyright Society3 Refugee Accelerator 2016 #Society3 Define the smallest possible target market Precisely what types of people are you looking for Think of ordinary users, media, technologists… Target audience = People you proactively go after You still will welcome everybody else Categories can’t speak – Tom Black can Create a list of 500+ people you want to have

27. 27© Copyright Society3 Refugee Accelerator 2016 #Society3 500 People with access to 2,000 others = 1 Million It’s always about tools & techniques Search Twitter for hashtags #bikes, #gourmet, #cars... Look for groups on LinkedIn Use Facebook Search “My friends who like car racing” Look for influencer (large networks) Look who they follow (but be selective) Look for talkative people (blogger, active on Twitter)

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31. 31© Copyright Society3 Refugee Accelerator 2016 #Society3 Craftingyourbusinessmodel

32. 32© Copyright Society3 Refugee Accelerator 2016 #Society3 UBER It's just a mobile app Has a complete business process No cars, no drivers Exam ple

33. 33© Copyright Society3 Refugee Accelerator 2016 #Society3 Computer 2000 Competing with 5,000 x bigger distributors No direct business - dealer only Product manager for each line Exam ple

34. 34© Copyright Society3 Refugee Accelerator 2016 #Society3 Computer companies you cannot buy from Book stores you can read books for free Taxi company with no taxies, no drivers Vacation rentals with no real estate Software companies who don't sell software Car manufacturers but you can't by their cars Telcos who don't have any equipment Restaurants that have no cook and no food Disruption

35. 35© Copyright Society3 Refugee Accelerator 2016 #Society3 How do you do your business How do you price your products How do you charge your customers How do you deliver your products How do you compose your offerings What vendors are part of the offering What providers do you involve What is the service offering

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38. 38© Copyright Society3 Refugee Accelerator 2016 #Society3 Success Secret

39. 39© Copyright Society3 Refugee Accelerator 2016 #Society3 Winning against any size company Customers would switch to more agile, friendly, transparent businesses anytime. Building trust and a good reputation fast with a clear business idea, a great team, a friendly and open culture and a disruptive business model - forces companies of any size to their knees and respond. You NEED companies copying you and follow you to become a market leader.

40. 40© Copyright Society3 Refugee Accelerator 2016 #Society3 Giving back Follow us Twitter: Facebook, LinkedIn @Society3Grp fb.com/society3 Linkedin.com/company/society3 @AxelS @MaritaR Write a review LinkedIn group: https://www.linkedin.com/groups/60559 Facebook group: https://www.facebook.com/groups/gotostartups/ Join the online community: http://society3.com/fundersmart Follow and share

41. Society3 Accelerator How are you? #Society3 Day 2

42. 42© Copyright Society3 Refugee Accelerator 2016 #Society3 ProductMarketFit

43. 43© Copyright Society3 Refugee Accelerator 2016 #Society3 BlueRoads Is the lead distribution process with BlueRoads saving a technology vendor time and money? Can an untrained reseller in a small town use the product without training Can lead data be uploaded from any spreadsheet like right at an exhibition Do we support our vision with the product we offer Exam ple

44. 44© Copyright Society3 Refugee Accelerator 2016 #Society3 The market always wins Let the market be part of the development Get the product out at prototype level Let alpha users on it early (3-6 month) Get to Beta 2 to 4 month later Make your beta users to heroes Have a structured way to get feedback Maximum transparency (known issues)

45. 45© Copyright Society3 Refugee Accelerator 2016 #Society3 Get out early Set the stage Be amazingly transparent and honest Be amazingly engaged with your early users Alpha | Closed Beta 1,2,3 | Public Beta | V 1.01

46. 46© Copyright Society3 Refugee Accelerator 2016 #Society3 Why should I use your product? Make it very clear what your product does Tell the real story Don’t be the XXX for NNN – be YOU What’s the expected result for the user Start with the registration button: Start “influencing”, start “sharing your mood”, start “inviting artists”, start… Nomen est omen – It’s all in the name

47. 47© Copyright Society3 Refugee Accelerator 2016 #Society3 Be super sensitive to user experience - no matter what business you are in Set very clear expectations (Zero BS) Help change behavior (gamification) Provide 60/90 sec tutorials Tell the compelling difference

48. 48© Copyright Society3 Refugee Accelerator 2016 #Society3 Understanding & managing a large and diverse user base Track all actions such as Register, login, start a feature, perform an action, review a report, load any page… Decide what behavior you want to drive Give points the moment you log an action List the points for each user Show it on the dashboard and during actions Make it publicly a big deal and recognize leaders, super users, supporter…

49. 49© Copyright Society3 Refugee Accelerator 2016 #Society3 Easy products – less support Invest time in an easy to use product instead of extensive support measures Build a users group early on !!! Let your super users help with support

50. 50© Copyright Society3 Refugee Accelerator 2016 #Society3 User Engagement Be overly transparent with your initial user A buggy product can create a positive and added level of ownership Make sure you have a way to gather feedback in a methodical way (i.e. UserVoice.com) Listen, react, iterate Know how users feel if you shut down

51. 51© Copyright Society3 Refugee Accelerator 2016 #Society3 Five Product Market Fit Metrics 65%+ of the users you are addressing are using the product at least weekly if not daily for at least three month More than 40% of users would be disappointed if you take it away You receive written feedback and suggestions for improvement from 5%+ of the early adopters. You see 10% of your current users begin recommending it to others You have positive confirmation from 10 rather conservative late stage users that they may want it if it is ready

52. 52© Copyright Society3 Refugee Accelerator 2016 #Society3 No trying No gambling Is it crystal clear what you have to offer? Is it clear what is not working yet? Do you have simple and public pricing? Is it super easy to buy and pay? Is your after sales support defined? Can user provide feedback?

53. 53© Copyright Society3 Refugee Accelerator 2016 #Society3 on YOUR product

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56. 56© Copyright Society3 Refugee Accelerator 2016 #Society3 GoToMarketStrategy

57. 57© Copyright Society3 Refugee Accelerator 2016 #Society3 Infinigate The Internet eliminates the middleman - not Getting 25+ product lines from top vendors Creating non technical product descriptions Touring from reseller to reseller Providing end user marketing to create a pull through to resellers with the 'Inliner' Build a pan Europen presence fast Exam ple

58. 58© Copyright Society3 Refugee Accelerator 2016 #Society3 You can’t talk to a million people But you can ask 1000 to talk to 1000

59. 59© Copyright Society3 Refugee Accelerator 2016 #Society3 Your Target Audience Are People

60. 60© Copyright Society3 Refugee Accelerator 2016 #Society3 San Francisco, CA + 1 (650) 384-0057 Cannes, France + 49 (30) 2023-8748 Society3 Group – http://Society3.com - http://XeeMe.com/Society3 © Copyright Society3 - 2012 Asking people ‘help spread the word’

61. 61© Copyright Society3 Refugee Accelerator 2016 #Society3 Go To Market Develop a creative plan how you go to your market How do you engage with your target audience? How do you motivate them to help you and how? How to maximize public conversations Create a market pull (not push) Stimulate excited users to share their experience Turn the user voice into references Ensure your online presence is inviting and ready for conversations and engagement Build a robust backend operation Make it easy to BUY and PAY Bring the public dialog to your target audience

62. 62© Copyright Society3 Refugee Accelerator 2016 #Society3 Go To Market Strategy List 2016 GOAL: Key marketing goal you want to achieve by end of 2016 THE MARKET What’s your market like, your role, your competition GO TO MARKET We go to market with a three prong approach A - What are you going to do B - What are you going to do C - What are you going to do SUPPORTER Current customers….. Associations… Leverage those who can benefit from our success ACTIONS Creating… Building …. Making… Social media engagement A consistent and ongoing communication stream…. Resources by activity Describe the details what you will do here and now. REPORTING Describe what KPIs you are going to focus on and how you can measure them

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66. 66© Copyright Society3 Refugee Accelerator 2016 #Society3 Buildungacustomerbase

67. 67© Copyright Society3 Refugee Accelerator 2016 #Society3 Society3 Organizing attractive events Provide valuable insights for startups Attracting investors with an all new business model with an unusual exit strategy Building a European presence by being there Exam ple

68. 68© Copyright Society3 Refugee Accelerator 2016 #Society3 Having all ducks in a row? Your vision is as clear as a video Leadership team is assembled Your company purpose and brand is defined You know your very specific target audience Your product is ready You meet any legal requirements Customers can register / visit you Customers and users can provide feedback You have your blog and online presence You are going to set the stage as thought leader

69. 69© Copyright Society3 Refugee Accelerator 2016 #Society3 Talk to as many people as possible Read your alerts on LinkedIn and Twitter daily Read industry specific news / alerts Search for new target audience users daily Respond to relevat posts and comments Speak to your target audience daily

70. 70© Copyright Society3 Refugee Accelerator 2016 #Society3 Your product is as good as your engineering skills Your traction is as good as your networking skills Build a large network of relevant people Start with your first customers - talk to their friends Touch base with every single one of them Ensure all conversations are online / public Be helpful, support THEM to be successful Respond on all channels

71. 71© Copyright Society3 Refugee Accelerator 2016 #Society3 Moving off of email eMail: “Dear Tom, just want to tell you, your product is the best I’ve seen in a long time… Twitter : wow, @Tom your product is the best I’ve seen in a long time http://bit.ly/1afDg$ #lovebikes Moving off of email by responding to messages online. Twitter: Saw your email, here is the link to the XYZ event #event #bike #ILNY Nobody else can learn from email content Nobody else can chime into an email conversation

72. 72© Copyright Society3 Refugee Accelerator 2016 #Society3 Review your online presence Most important: Your Blog The home of all your information, your brand YouTube Channel Best education channel you can get SlideShare Top content sharing for strategic and specific information Twitter presence The information heart beat LinkedIn page Your business journal LinkedIn groups Close group engagement – lead generation Facebook page Your promotion and engagement corner Quora Answer relevant questions

73. 73© Copyright Society3 Refugee Accelerator 2016 #Society3 Networking is a numbers game If you have 100 followers on Twitter, who have 100 followers on average, your theoretic reach is 10,000 If you have 10k followers with 10k follower on average your theoretic reach is 100 Million

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77. 77© Copyright Society3 Refugee Accelerator 2016 #Society3 GrowthFinancing

78. 78© Copyright Society3 Refugee Accelerator 2016 #Society3 Infinigate We wanted to win business partners and vendors as customers We decided to create an application where they can register to by shares in our increase in capital online We raised $350,000 in pour seed round, $2 Million in A and $5 Million in B, and finally $10 Million in our C round. Enough to grow to $300 Million in revenue today Exam ple

79. 79© Copyright Society3 Refugee Accelerator 2016 #Society3 Financial Planning & Funding Plan what you need – not what you can get Plan how much you need NOW Understand how much you may need next Think about the rounds to IPO Think about how much you will need to give Think about control of the company

80. 80© Copyright Society3 Refugee Accelerator 2016 #Society3 Investment Instruments & Options Friends & Family Revenue – Perks based crowd funding *** Business Angels ** Equity crowd funding / online platforms ** Venture Capital * Industry Investors * *** always the best vehicle ** best for $250k - $1MM seed rounds * best for $5MM+ A rounds and beyond

81. 81© Copyright Society3 Refugee Accelerator 2016 #Society3

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83. 83© Copyright Society3 Refugee Accelerator 2016 #Society3 Success Secret

84. 84© Copyright Society3 Refugee Accelerator 2016 #Society3 The earlier you involve potential customers, the better your offering becomes! AND you get references right from the beginning. There is ZERO chance to find others sell your product or service successfully until you had great successes created yourself. Close your first 100 deals, create revenue for 180 days before you work with any kind of partner. Winning business fast

85. 85© Copyright Society3 Refugee Accelerator 2016 #Society3 Accelerator Objective We went through Entrepreneurship, Team building and society The legal framework for your own business Developing your company purpose Developing your own company culture Ability to define your target audience Business model development Ability to achieve product market fit Creating a go-to-market strategy Getting your customer base Financing your business growth

86. 86© Copyright Society3 Refugee Accelerator 2016 #Society3 Next stepsFive Next Steps Sit down and work through the following key topics for yourself Company purpose, Target market, Business model, Product concept, Go-to-market strategy, financial plan Find a co-founder buying into your vision Look for a mentor !!! Interview 23 potential customers, analyze the feedback Achieve as much as humanly possible without an investor Raise capital from knowledgable investors to grow Raw Concept Co-Founders Mentor 23 Customers $$$

87. Startup You Have a co-founder You have a great business idea Validation from 7 customers You defined the following: - Company purpose - Target market - Business model - Product concept - Go-to-market strategy - A financial plan My Mentorship Concept review Company vision solidification Team composition Board composition Strategy and plan reviews Product strategy coaching Capitalization strategy Go to market strategy Fundraising process Investor pitch coaching Sales strategy development Partnership strategies Business model solidification

88. © Copyright S3 Academy 2014#Society3 Now it’s all about Execution

89. 89© Copyright Society3 Refugee Accelerator 2016 #Society3 Giving back Follow us Twitter: Facebook, LinkedIn @Society3Grp fb.com/society3 Linkedin.com/company/society3 @AxelS @MaritaR Write a review LinkedIn group: https://www.linkedin.com/groups/60559 Facebook group: https://www.facebook.com/groups/gotostartups/ Join the online community: http://society3.com/fundersmart Share the experience :)

90. 90© Copyright Society3 Refugee Accelerator 2016 #Society3 © 2016, Society3. all rights reserved. Feel free to share the presentation in unchanged form. Society3 Group AG Luzern, Switzerland (+41) 41 511-2885 | San Francisco, CA | (415) 656-8700 +41 (41) 511-2885 society3.com/MaritaR society3.com/AxelS Society3.com Online presences: http://society3.com/social Thank You...your financing marketplace for the world’s innovations

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