The Billion Dollar Question

Is my idea any good?

By Gagan Biyani @gaganbiyani

Gagan Biyani: About Me
Co-Founder, Udemy Founder Institute Grad Raised $16 MM Over $6 MM in courses sold Marketing Consultant/Advisor, Lyft Led Lyft’s launch in Los Angeles Blogger, TechCrunch Investigative article led to investigation by FTC Mentor/Advisor Founder Institute, Lean Startup Machine TenderTree, Wedding Party and Sokikom Founder, Growth Hacker Conference Leading startup conference on marketing San Francisco, May 3, 2013

Overview
1. Customer Development / Research

1. Startup Concierge

1. Building a Fact-Based Culture

Elements of a Good Idea

Product/Market Fit
Market Size
Viability
Competition
Your mom wants to use it

Do people want your product?

Go find your customer

Then, get on the phone and call them!!!

Anatomy of a Customer Survey
How many days a week do you order take-out or delivery for dinner? When you order dinner to your house, how much do you usually spend per meal (incl. delivery)? What are your main criteria when determining what to eat? (Pick as many as applicable) How much would you expect to pay to have a healthy, delicious, home-cooked meal delivered to your door? How much would you expect to pay to have a healthy, delicious meal prepared by the head chef of a restaurant you know delivered to your door? Are you satisfied with the options you have for dinner each night?
Another qualification Qualifying the audience

Obtaining facts

Understanding motives

Are the price expectations reasonable?

How do price expectations change?

Open-ended question

What city do you live in?

Testing your product without technology

Use whatever you need to test your idea

Minimal Viable Product

Facts trump Reason

I’m right. No I’m right. No I’m right.

What meal option do people want to eat?
1. Asian Short Ribs with Star Anise Glaze Tender, fall-off-the-bone ribs marinated in a tangy glaze. Served with vegetables.
2. Chef’s Special Meatballs in Spicy Marinara Chef Sam’s specialty. Moist, juicy pork meatballs infused with red pepper and spices. 3. Chicken Adobo Succulent chicken simmered in a fragrant blend of soy sauce, garlic, cider vinegar, black pepper and bay leaves. 4. Braised Chicken in White Wine Leek Sauce Tender and juicy chicken marinated in a light, flavor-packed sauce. Sprinkled with black pepper. 5. Vegetable Lasagna Hand made pasta in a light cream sauce filled with a medley of fresh veggies.

Data FTW

Questions?
Twitter: @gaganbiyani E-mail: gaganbiyani@gmail.com

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