Entrepreneur Perspective:

Finding Your Business, The Pivot

Aaron Batalion

CTO & Co-Founder

LivingSocial

Your idea is probably wrong

"A startup is a search for a scalable, repeatable business model"

- Steve Blank, Four Steps to the Ephiphany

What is a Pivot?

"The idea that successful startups change direction but stay grounded in what they've learned"

- Eric Ries, The Lean Startup

Dont be scared.

Everyone does it.

Flickr

Online Game -> Photo Sharing

Paypal

Palm Pilot Beam $$ -> Printing Money

Not Just Internet

Panasonic/National

Bike Lamps -> TVs

Nintendo

Playing Cards -> Console Games

LivingSocial Story

~4 Public Pivots

100+ Private Pivots

Social App Consulting

Visual Bookshelf

Lots of Interests

Buy on Amazon!

Yay! $0.50!!

Custom Advertising Deals

LivingSocial - Pick5

Content Expansion

#1 Application Facebook

0 to 35M users in 3 weeks

How are the servers doing?

They beat us

Became #1

How Did they do it?

Paying Customers Rule!

eCommerce is awesome

Lessons after 4 Pivots....

"Execution Matters, Ideas Don't"

Fred Wilson, VC @ Union Square

Dont talk yourself out of ideas.

Data. Data. Data.

Test. Test. Test.

MVP - Minimum Viable Product

MVI - Minimum Viable Idea

300 words

Google/Facebook

Build your Toolbox

"Intra"-preneurs Rule!

J.S.I.O.

Don't ever be satiated...

Q&A