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How to Turn a Full-time Job Into a B2B Business Opportunity

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How to Turn a Full-time Job Into a B2B Business Opportunity

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  1. How to Turn a Full-Time Job Into a B2B Business Opportunity

  2. 2x B2B Startup Founder (Flagback & HireVoice) Recognized Usability & UX Research Expert > 2013 Most-Liked SlideShare Presentation Creator Author of Lean B2B: Build Products Businesses Want

  3. >

  4. Where did the majority of Inc. 500 founders find their business ideas?

  5. 50% of founders got their idea at their previous employer

  6. 50% * * Study by University professor Amar Bhidé for The Origins and Evolution of New Business (2000)

  7. Outside-In vs. Inside-Out?

  8. Part I The Insider’s Competitive Edge

  9. 1. Easy access to customers Start a business where you can get access to customers easily. - Max Cameron, Kera Co-Founder and CEO

  10. 2. You know the initiatives & business priorities If you don’t, you can ask...

  11. 3. You can define the problem owner, the buyers & figure out where to start selling

  12. 4. You get credibility and expertise because you're from the market If not, you can fake it...

  13. 5. You can run ROI calculations and start with real data

  14. 6. You understand the risks & what it takes to sell to large businesses To overcome the “Status Quo Coefficient”, your solution should be at least two times faster, two times better and two times cheaper than the known alternatives.

  15. 7. You can build a relevant professional network on company hours

  16. 8. You can pivot on the cheap at the idea level It takes a while to get on people’s calendars [...] For this reason, it doesn’t make sense to leave your job before having a good indication that you are working on a real business opportunity.

  17. 9. You can turbo-charge long sales cycles by starting with a paying customer

  18. Part II Other people have done it

  19. + Martin Ouellet

  20. + Dharmesh Shah Pyramid Digital Solutions Sells Assets to SunGard Business Systems

  21. + Martin Bouchard iBwave Makes PROFIT 200 List of Canada’s Fastest-Growing Companies for Third Consecutive Year

  22. Part III Obvious Challenges

  23. Is it a market of one?

  24. Will anyone buy?

  25. Can it be productized?

  26. How will you transition from employee to entrepreneur if you’re successful? Fire !!

  27. Part IV How to do it

  28. The First Question to Ask Yourself: Core Business? Non-Core Innovation?

  29. Keep your eyes out for explicit and implicit problems.

  30. People love to talk about their problems. The moment that you’re talking about a person’s problems, they’re happy. - Brant Cooper, The Lean Entrepreneur Co-Author

  31. Network. Talk around the problem. Get different inputs.

  32. Narrow the field. Score problems by pain, budget availability and impact potential.

  33. Understand what you need to replace.

  34. Understand the market, the watering holes, influencers, risks, buyers, buying processes, etc.

  35. Create a plan to test your hypotheses. The market is wide enough to sustain a business There won’t be legal restrictions The product can be productized There are other customers

  36. Solicit a broader set of voices. + =

  37. “Interesting” is a distraction, watch out.

  38. Don’t build. Negotiate your exit. Leave on good terms.

  39. Part V Key Takeaways & Conclusion

  40. Which makes most sense?

  41. A Paid Work B Saving up? Which makes most sense?

  42. The best time to be an entrepreneur is when you, and your team, have really learned about an unmet need, understand the customer’s pain and you are ready to take the plunge. - Ken Morse, Serial Entrepreneur & MIT Entrepreneurship Founder

  43. The shortest path to successful entrepreneurship is what you already know. Start there.

  44. Thousands of innovators around the world use LEAN B2B « This is a must read for every B2B entrepreneur, SaaS creator or consultant and business school student. It's the kind of book you don't read once, you go back to it on a regular basis. » - Carmen Gerea, CEO & Co-founder, UsabilityChefs « Treat this book like a map to show you where you are and a compass to show you the direction. I wish I could have read it 2 or 3 years ago. » – Jonathan Gebauer, Founder, exploreB2B
 « Lean B2B is filled with rock-solid advice for technology entrepreneurs who want a rapid-growth trajectory. Read it to increase your certainty and your success rate. » - Jill Konrath, Author of AGILE SELLING and Selling to Big Companies
 « The book I read of which I have learned the most. » - Etienne Thouin, Founder and CTO, SQLNext Software
 www.leanb2bbook.com « This book is essential reading for would-be entrepreneurs who face the daunting task of entering B2B markets. » – Paul Gillin, Co-Author, Social Marketing to the Business Customer Étienne Garbugli: @egarbugli /egarbugli

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