Hartmann Ventures We help startups to find product-market-fit - - PowerPoint PPT Presentation

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Hartmann Ventures We help startups to find product-market-fit faster, Presented by: Manuel Hartmann create awesome products and accelerate sales. Page 1 Startups fail when they run out of cash because they dont find

SLIDE 1 1 Page Presented by: Manuel Hartmann

Hartmann Ventures

We help startups to find product-market-fit faster, create awesome products and accelerate sales.

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Startups fail when they run out of cash because they

don’t find product-market fit fast enough
fail to create awesome products or
gain market traction too slowly

“ “

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Our Objectives

Your goals are our objectives. Build Awesome Products Setup professional product management and build products customers love. Accelerate Sales Sell the right products to the right customers with the right approach. Find Product–Market-Fit Faster Find product-market-fit faster, better, with less efforts.

SLIDE 4 4 Page Adapt Business Model Refine your business model to become profitable. Shape Product Roadmap Help you build a 10x instead of 10% product improvements. Train Sales Team Help your sales people to predictably and sustainably sell more. Conduct Market Research Leverage Design Thinking to find out what your customers pay for. Professionalize Product Management Setup a transparent & collaborative product management. Create Sales Strategy Define your target market, buyers and set up the right sales channels for them.

Our Services

We provide you with the services you need to succeed.

Business Model Innovation Product Management Sales

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Market Research

Design Thinking enables you to conduct market research and validate ideas quickly. Time Design Space Exploration Critical Function Prototype Dark Horse Prototype Funky Prototype Functional Prototype X-Is Finished Prototype Final Prototype Ambiguity / # Ideas Diverging Converging

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Business Model Review

Use the Lean Canvas to describe your business model on 1 page. Cost Structure Customer Acquisition costs Distribution costs, Hosting … Revenue Streams Revenue Model Gross Margin … Problem Top 3 problems Solution Top 3 features Key Metrics Key activities you measure Unique Value Proposition Single, clear, compelling message that states why you are different and worth paying attention Unfair Advantage Can’t be easily copied/bought Channels Path to customers Customer Segments Target customers

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Business Model Validation

Constantly validate your assumptions. Reflect Define problem Develop solutions Create prototypes Validate

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Product Manager Responsibilites

Product manager responsibilities are often not clearly defined.

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Product Management Organisation

A product manager connects engineering, management, the customer and the field to create awesome products. Field Why to sell (Motivation) How to position (Value & competition) What to show & Tell (Credibility Customer Why to buy (Substitution) How it fits (Complementation) What the value is (ROI) Management Why to build (Strategic value) What are the required resources (Planning) How to approach the market (Priority & roadmap) Engineering What to build (Direction) Why to develop (Motivation) How to build (Collaboration)

Product Lead / Chief Product Officer (CPO)

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Product Management Objectives

Tangible OKRs* help you to get everybody working together on the right things. Promotion & roll-out** Make it easier to understand Improve user adoption Promote product … Feedback & education** Improve internal product know-how Educate partners Build for customers … Productization** Professionalize product roadmap Modularize service portfolio to products Realize self-service … *OKRs: Objective & Key Results, en.wikipedia.org/wiki/OKR **Example Objectives, by nature different for every organisation at various organizational stages

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Product Management Activities

The challenge as a startup is to focus on the key activities. Analyse Market analysis Developing propositions Business cases Pricing Give direction Product & portfolio strategy Product roadmaps Evangelise Resolve issues Gain insights Market research Customer & sales feedback Competitive research Product performance Deliver Write requirements Support development Manage projects & suppliers Coordinate roll-outs & trials Sell Support go-to-market Promote product Develop sales support material Support sales channels

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Product Management Approach

Take a professional approach from the start. Products: Start simple with a single product line. Only once processes successfully established expand. Product canvas: Cluster and integrate all information on a product also to facilitate internal communication. Roadmap: Keep things simple with a “now/next/later” setup. Product management is not project management. Ideas: Establish simple, accessible ways to capture, maintain and collaborate on ideas. Prioritization: Estimate impact and effort for every feature. Build high-impact / low-effort first. Feedback: Validate your ideas, roadmap and products early & often. Your customers pay your salary. Personas: Capture relevant stakeholders including description, goals, behaviors, frustrations & limitations Designs, Files: Supplement your ideas with images and other information to make them more tangible Integrations: Connect your product management to other relevant work tools such as Slack or JIRA

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Product Management Considerations

Take a step back from time to time to review where you are going. Vision: What exactly are you working towards: When would you be “done”? Openness: Who are you building for: Open-source product, a curated platform or a completely “closed” product? Interaction: Who works with your platform: Business users, technical users, management, partners? Make: Features creating a USP (Unique Selling Point) or that are a core competence Buy: Generic functionalities not adding to differentiation on the market Key Decisions: General vs. specific, who for, technology lifecycle etc. Culture: Avoid the ”not-invented-here” syndrome, not everything needs to be invented by you (again) Time Horizon: Build for the next few years, not eternity, assemble to the max Reusability: Strive to build every feature for maximum reusability, avoid “hard-coding” Customer Requests: Strive for configuration instead of customization for robust maintenance

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Market Evaluation

Rate each of the 10 factors below on a scale of 0 to 10, where zero is extremely unattractive and 10 is extremely attractive.

1. Urgency: How badly do people want or need this right now?
2. Market Size: How many people are actively purchasing things like this?
3. Pricing Potential: What is the highest average price a purchaser would be willing to spend for a solution?
4. Cost of Customer Acquisition: How easy is it to acquire a new customer? How much money an effort will it cost?
5. Cost of Value-Delivery: How much would it cost to create and deliver the value offered, both in money and effort?
6. Uniqueness of Offer: How unique is your offer versus competing offerings in the market, how easy is it to copy?
7. Speed to Market: How quickly can you create something to sell?
8. Up-Front Investment : How much will you have to invest before you’re ready to sell?
9. Up-Sell Potential: Are there related secondary offers that you could also present to purchasing customers?

10.Evergreen Potential: How much additional work Is required after the initial offer creation it in order to continue selling?

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Sales Channels

Validate various sales channels but focus on the 2-3 that work with the biggest leverage. Business Development: Create strategic sales plans, develop strategic relationships, build a predictable deal pipeline. Sales: Establish processes to directly exchange value for money, create a lead-generating sales funnel. Referrals, Affiliate Programs: Encourage customers and other people to refer you to other customers. Events, Speaking Engagements: Meet your target prospects in person and increase brand awareness. Search Engine Optimization: Improve Google ranking to cheaply acquire targeted traffic. Content Marketing: Create relevant, for your customers useful content that people engage with. Blogs: Target other blogs prospective customers read to make them aware and educate them about your solution. Existing Platforms: Leverage web sites, app stores, networks etc. to approach “pre-built” audiences. Publicity, Offline Ads: Increase brand awareness via traditional media such as newspapers, magazines and TV. Unconventional PR: Conduct publicity stunts or scalable actions such as contests or handwritten notes to customers. Search Engine Marketing, Social & Display Ads: Place advertisements on Google AdWords, Facebook, LinkedIn etc. Email Marketing: Convert prospects and retain existing customers with tailored content. Engineering as Marketing: Create (free) tools that gets you in front of your prospects. Further materials medium.com/@yegg/the-19-channels-you-can-use-to-get-traction-93c762d19339, amazon.com/Traction-Startup-Achieve-Explosive-Customer-ebook/dp/B00ZE96ZWY

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Prospect Qualification

Keep things simple but strict with a checklist. Sales Process

1. Sympathy: Is the prospect ready to engage, did you set expectations?
2. Needs: Do you fully understand what your customer needs to be successful?
3. Value: Can you solve the problem? Is the customer convinced you could & would do it?
4. Negotiation: Is the process to a signed contract clearly defined (see below)?

Qualification: Has the customer ...

B… received an approved budget for this specific project?
A… told you who all the key influencers and decision makers are?
N… clearly explained to you the need for a solution?
T... told you exactly when he needs a solution?
!… shown a preference for you over someone else?

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Key Stakeholders

Outline “What’s in for me” for key stakeholders. Decision Makers

C-Level: More revenue, reduced costs, digitised into the future
Team Lead: More efficient team, improved motivation, digital pioneer

Problem Owners

Workers: More interesting work, gathering of valuable digital skills, becoming future-proof
Consultants: Up-/Cross-selling for new projects, positioning as thought leader

Influencers

Finance: Reduced operational costs, improved cost transparency & predictability
IT: Better scalability, lower maintenance efforts, minimal implementation efforts
Customer Service: Less customer inquiries, better service, higher customer satisfaction

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Buyer Journey

Focus on prospects that are ready to buy. Every customer passes through 5 phases during his buyer journey:

1. Unawareness: The customer does not know he has a problem. Provocative selling, show he has a problem.
2. Awareness: The customer is aware he has a problem. Consultative selling, present ways to solve the problem.
3. Education: The customer realizes there are solutions. Solution-based selling, present your solutions.
4. Selection: The customer selected solution. Transactional selling, present pricing & payment options.
5. Onboarding: The customer uses your solution. Self-Service selling, enable web-based sales.

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Investor Pitch

An investor wants to see specific information from you.

1. Company purpose: What is the vision & mission you want to achieve?
2. Problem: Who is your ideal customer? What is their pain / pleasure? How is it currently addressed?
3. Solution: What is your value proposition? How does it work (screenshots, video, demo)?
4. Product: What are your key features? Which technology do you use and why? Do you have IP? Product roadmap?
5. Team: Who are you and why do you make this company successful? Backgrounds, talents, experiences?
6. Timing: Why is now the right time? Why has it not been done before? How does your field evolve, trends?
7. Market: How many customers could pay for your service? How many are addressable? How does the market develop?
8. Competition: Who are your competitors? Why are you different? How do you beat them? What is your 10x advantage?
9. Business model: What are your revenue streams? Average deal-size, customer lifetime value? How do you scale?

10.Financials & key metrics: What are your unit economics? What is your burn rate? How do your KPIs evolve? 11.Use of funds: How much funding are you looking for? How will you use it to achieve which milestones? 12.Cap table: How much money have you raised from whom? Do you have an ESOP/VSOP in place? Governance? Further materials sequoiacap.com/article/writing-a-business-plan slidebean.com/blog/startups/pitch-deck-presentation-complete-guide pitchdeckexamples.com/startups

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Key Metrics

Consistently track a few key metrics instead of building a “KPI Zoo”. Bookings: Contract value. Reflects contractual obligation on the part of the customer to pay the company. Revenue: Recognized when the service is actually provided or ratably over the life of a subscription agreement. MRR (Monthly Recurring Revenue): By nature recurring revenue, i.e. excluding one-time fees. CLV (Customer Lifetime Value): Present value a customer over the duration of the relationship. CAC (Customer Acquisition Cost): Full cost of acquiring a customer, stated on a per user basis. YoY (Year-on-Year) Growth: Yearly growth compared to previous year. Further materials klipfolio.com/resources/kpi-examples/saas-metrics

ffers.hubspot.com/hubfs/Customer%20Service%20Metrics%20Calculator.xlsx

blog.usejournal.com/how-to-evaluate-startups-the-three-metrics-that-matter-a19501560e63

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Who We Are

Explore. Build. Sell. Together.

About us

We are a team & network of proven professionals who want to see more Swiss startups succeed in the market and make it happen.

Vision & Mission

Vision: Enabling Switzerland to build the best startups in Europe. Mission: Provide entrepreneurs with the capabilities to succeed.

Market Offering

We help startups to accelerate their product-market-fit, create awesome products and accelerate sales.

SLIDE 22 22 Page Bottom-Line Impact: Every collaboration with us results in tangible business value for our clients. Trust & Transparency: We say what we do and do what we say to create trusted, long-term relationships. Customer-Centricity: We put the customer first in everything we do. Customer Service: We are accessible to our customers. Swiss Quality: We deliver on-time, in Swiss quality. Always.

Core Values

We are transparent on our “True North”.

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Meet The Founder: Manuel Hartmann

I am looking forward to learn more about how I can help you succeed. Sales Achieve 250% bookings & 340% customer base (2018 to 2017) for a leading AI startup. Build a new brand and new sales channels from scratch. Business Model Innovation M.A. HSG in Business Innovation. Design Thinking Lecturer at HTW Chur. Experienced business model engineer. Product Management Wide experience in business, process and requirements engineering for leading Swiss companies. Transform a startup from project-based work to product-based subscriptions. manuel@hartmannventures.com +41 78 707 76 69 linkedin.com/in/hartmannmanuel medium.com/@manuel.hartmann

SLIDE 24 24 Page www.hartmannventures.com (upon February 2019) Neue Fossertstrasse 5 CH-8952 Schlieren info@hartmannventures.com (upon February 2019) +41 78 707 76 69