This is what I learned after the "Launching a Startup" course from Stanford University 🧑🏽‍🎓

I'm that kind of guy. The one that shows off when he finishes an online course. The one that creates FOMO to all his LinkedIn feed. You can thank me later.

But don't worry! I'm here not only for that, but because I want to share what I have learned in a LinkedIn article. How is that?

By the way, if you have some project you want to develop, write me! No, seriously. Write me. Right now.

Context - WTF is a "Venture Builder" and what do you do there?

As some of you may know, I am working in a Venture Builder. That's when an investment fund or somebody with money, instead of allocating it to some startups, creates a company: a Venture Builder (or Startup Studio, or Venture Studio - who knows which is it the fancy way of calling it).

This Venture Builder develops projects which, in turn, become startups.

Then, doing the Stanford's course (yeah, it's Stanford, not "Standford") "Launching a Startup" seems quite adequate, doesn't it?

I actually discovered a lot of things I was doing wrong, and how to do it the proper way.

I know. A lot of people say that. But I can ensure you I'm not THAT kind of guy. Am I showing off? Maybe. Am I an ultra-motivated entrepreneur that intends to sell you a course to become a millionaire? No way, Jose.

TL;DR (no, ChatGPT did not do this)

• Don't lie to yourself. You don't know how mothers buying baby carriages feel.

• Don't lead the witness. Interview. A lot. But do it the proper way.

• Don't be attached to your prototype. Do not spend a lot of time doing it.

• Go with one target, one go-to-market strategy, and one product.

• Calculate the feasibility (CAC, TAM and LTV)

0 | Start here: what do you want to do?

I did not learn this in Stanford, but in one of those cheesy motivational LinkedIn videos. The ones your boss likes that much.

First, consider what you like. Not the market you want to tackle. Not the market Chris Brown tells you to tackle in one TikTok video. The one you like. Don't even think about the problem yet. Just something you like.

1 | Who is doing what you like?

There we go. First, let me tell you the difference between "users" and "customers". And, no. "One is for online, and the other one is for physical products". That's not it.

Snapchat case

They used that one. Feel proud you are hearing the example Stanford used.

So, people take photos (usually nudes, we know you do) and send them to somebody. Instead of a simple text, they embed it inside a picture. There you have Snapchat. Amazing.

Let's focus.

Who is using Snapchat? Those people that are actually messaging each other and sending dirty pics. Those are the users.

Who is paying for Snapchat? Because people messaging are not. Then who?

Advertisers. Those are the ones paying the party. Those are the customers.

Usually, the user and the customer is the same person. But sometimes they are not.

Formal definition: A customer pays for the business offering. A user uses the business offering.

I don't know why I paid money to learn that.

Interview people. No, seriously. Do it

## Oh wait. You don't know who to interview? Ask yourself these:

• Who needs you to solve this problem?

• Who faces the problem most acutely?

• Who are the key stakeholders who share concerns about the problem?

• (a lot of other questions that say and mean the same)

End quote ##

Don't be naive. You don't know the challenges mothers with 1-year-old kids are facing when having to buy a baby carriage.

You may be a mom with a 1-year-old kid. Even then, you have little idea of what's going on. At most, you have a biased opinion of what's going on.

Interview as much people as you can. But don't bias the people you are interviewing. I tend to do that, yes. How to avoid it?

Ask open-ended questions and be an active listener. Think of the interview as a series of prompts (e. walk me thorugh a day of your life). Don't search for the interviewee to tell you want you want to hear. Maybe he/she doesn't even mentione it. That's important too.

Here are more tips:

• Ask questions related to pain points

• Grand "tour questions" (easily follow-up)

• Ask questions to understand competition and actual needs being solved

• Avoid leading questions

• Ask why a lot, and avoid yes/no questions

Do an empathy map

Just search how it's done, and do it with the interviews you have already done. Focus on the "PAINS" and "GAINS" aspects.

2 | Ideate baby

Now you can start thinking about how to solve the problem.

Why now and not before? Mainly because you didn't know which was the problem to-be-solved before.

Search for brainstorming practices, bring your friends, and don't judge.

First, create chaos. Think of a lot of ideas. Generate multiple of them.

Then, (and only after this) review idea's potential, feasibility and economic viability, and identify the top 5 ideas.

Then, combine them for prototyping.

Easy, right?

3 | Prototype (a simple landing with a waiting list is also prototyping)

You understood the problem.

You thought of ideas, and came up with one you like.

Which would be the logical step now?

Test whether you are the only one that likes your idea, or there's actual demand there.

How would you test it? Welcome to 101 Prototype.

Some tips:

The less psychologically attached you are to your prototype, the more willing you'll be to make changes based on inputs. If presenting a polished prototype, others will only find flaws. If presenting a rough prototype, others will se the potential.

In one line: low-investment, low-attachment, constructive feedback.

What can you do? Story brands, Video storyboards, Wizard of Oz, Mockup, Service blueprint, etc.

4 | Value Proposition Statement

Do as you like, but you have to finish with this:

For [your target]

that need [their need],

[your product/idea] is a [what is it?]

that is [features]

Unlike [status quo or competition],

our product [value offered].

And boom! There you go. This helps communicate your message better. And helps you understand yourself better, too.

Avoid trying to meet everybody's needs simultaneously, which undermines focus and makes it harder for any potential cusotmer to understand the products' true source of value

5 | Go-to-market Strategy

"The only thing that matters is getting product market fit."

Study the customer journey, and identify moments of truth, touchpoints and essential works.

Go with one strategy. Focus your effort.

If you go with multiple ones at the beginning, you won't know which one is working, and which one doesn't.

Now, the more well-defined the task, the easier it is to find a partner with a pre-existing business to do the essential work.

The more disruptive is the product, the more sense a direct approach has.

6 | CAC, TAM and customer LTV

Just search how to calculate them, and do some benchmark. I don't like writing about this stuff, honestly.

And that's all!

No cheesy closing. Just finishing right here.