Harvard i-lab | Startup Secrets: Turning Products into Companies
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- เผยแพร่เมื่อ 24 เม.ย. 2024
- You've figured out your value prop, you've got a great product under development. Now what? How can you develop a roadmap to build a company? VCs often qualify deals as being a "feature" a "product" or a "company." Which do you have and how will you get where you want to go? During this session we'll discuss how to think about designing your product as a foundational element of your business. Think beyond UX and Architecture to Whole Product, Ecosystems, and Strategic partners. Formulate how to design your go to market strategy and business model into your product with a modular architecture, distinctive packaging and a frictionless approach.
Learn more about the Harvard Innovation Lab at i-lab.harvard.edu/ and follow us on Twitter at / innovationlab and like us on Facebook at / harvardinnovationlab
The greater the passive income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off passive income since July 6, 2016. You’ve got to start taking steps to achieve your goal.
What kind of investment would you advise? And what is the best way to follow it?
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Starting early is the best way of getting ahead to build wealth. Most times, it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to focus.
The decision to invest is an acknowledgment that comes with certain risks. Not all investments will do well and some may lose money. However, without risk there would be no opportunity to potentially earn the higher returns that can help you grow your wealth.
@@dulcedeleche3406 I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks.
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.
@@thirtyonesolid That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@ericchk102 You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
I'm an hour into this and only realized now that the video is about a decade old. Yet this information is 100% still relevant in this fast moving world.
I just want to say am 38:31 minutes in and this is a masterclass on product building.
Such free knowledge for anyone anywhere.
I'm from Bangladesh and I want to say the internet really is amazing!
@@abrarahmad6370 I am also from Bangladesh
@@saugatjarif8272 i am not from bangladesh
I am also not from Bangladesh, but I do agree. I also think it's kind of ironic how people in my part of the world are starting to de-value schooling, while classes like these are only available for free because some people are willing to pay for it. Like Twitch, for example. Some people pay for Twitch subs, and in turn thousands of other people get to enjoy it for free.
@@prestonharrison2140
All this amazing knowledge free on TH-cam. Cheers.
Yet people just very lazy to watch full 2 hours
I'm telling you is crazy
I'm from Bangladesh and studying to be an entrepreneur and I think the internet and videos like these are truly phenomenal. Lots and lots and people should see this. This video is so underrated.
What’s the catch
@@bluedaylight1243 rrersre I’m just Getting srbe get rae Y we’re r euryr era text when he he doesn’t wants see r era Reese duster we referred reitieeuro were e were erute Reed but but I’m we all go go deer ere red Reed yeah ereururue and erect were errun but I’m just rururu Reed e Reed we’re ready Rute be Teresa tomorrow night so Reed rueuuruuur we’re r era and he is so r
Gregg is the man. Met him in 2000. He was very generous with his time to young entrepreneurs.
3:02 Is your idea a Feature, a Product or a Company?
9:19 (Gregg Favalora) Experience with "failure" /complex product
-16:58 Tips shortlist (map the entire money flow for customers)
25:53 Product/Company gap
34:22 What value does the Product offer?
43:44 Product Market Fit
-49:15 How to find customers w/ similar pains (just get out there)
58:15 Roadmapping Vision -> Execution
1:01:42 Build to Attract customers (SLIPPERY products)
1:30:17 (J. McEleney) Experience with companies
Thanks for sharing this info
You legend.
Ty bro
❤️❤️
Gr8 tnx
It's just amazing to me that we can get a Harvard education right here on TH-cam. This channel is great thanks to everyone that contributes you definitely got a new sub here ;)
from 2013, of the bunch show me what business they have built?
@@stevenjulia4730 how could that possibly be done?
One of the best webinars about startaps I ve seen during last 3 years that I started working a my startup
I love how the Actuality bloke draws a distinction between "whether you're selling atoms and photons, or bits"
Personally, I prefer electrons
@@ultraviolet.catastrophe No! Atoms are much better!
@@madczech9568 The Electron Federation will not take your comment lightly
An absolutely amazing talk! Thanks.
Talking to customer is the key to success
thanks for making this public.
it is very nice to see and learn from mistakes other startups made.
This video aged incredibly well, watching this in Summer of 2023 and still fantastic value
ikr!
I bet some harcard kids take lectures like this for granted. Meanwhile, there are people in other countries that are so happy they even get to experience this. Im glad I live in a time where this knowlege is accessible online.
Absolutely! You're spot on! I'm in South Africa, and I can't tell you how valuable this channel, these lectures are. I literally sit and take notes like I'm in class.
I think there is lots of things to do with the accessibility, imagine how many unit will be sold for the display, in comparison to a mobile phone. I have been give a critical thinking about it, and deeply appreciated he mention 'the market'!
Wow, Minimal Viable Segment is such a powerful concept. Starting at 45:06- 49:00. What I’m taking away is the test to see if a MVP is a success is by using a repeatable process of acquiring customers, and serving the customers, and the customers get the same kinds of benefits from using it. Hmm, I can’t fully capture the juice yet, may come back to this and try it again.
Minimal viable price is there to give rise to a market segment,a niche wherein the people can buy the products.
8 years later, so cool some of the references and speculations of the future and also great nuggets of info. Not sure if Crowd Sourcing is as popular as it was then in June 2013.
Greg, I really appreciate your candor. I am sure its not easy telling your story. I've been through the same thing you have.
Lies again? Serie A Leader
@@NazriB what do you mean by that ?
ic
45:55 is pure gold
Great lecture.give lot of introspection on starting new business.
Even after all these years this video is still relevant and amazing
Listened to this while half asleep. I imagined this story as a movie.
Very informative class. Thank you for sharing in public.
UX principles are by far the most valuable knowledge set I've aquired.
8 years and it's still the golden basics
I am watching this video after 8 and a half year of it's creation and I can say that this is the most valuable startup business advices or "secrets" I have ever gone through. Thanks a lot for sharing such an informative video.
I guess we owe it all to TH-cam algorithms.
I'm learning a lot from these vids.
This is such a wonderful lecture! Thank you for sharing!
Its mind blowing how this is available for free.. it is a huge thing for me as I do not have any background in business school. Lots of tips to apply in my own business
Great tutorial, especially talking about the importance of having a slippery product and making it simple to use.
Well, BIB Cryptocurrency Exchange is hitting a new milestone. They will be having their Initial Exchange Offering their own exchange platform and will be selling 1Billion tokens (200,000USD value) Don't miss it 😄
1 am I'm on kurzgesagt. I wake up at 4 am and this video is almost done playing
I have been a SolidWorks user for 15 years at two different engineering companies and a university robotics lab. In fact I single handedly switched the robotics lab over to SolidWorks from Autocad Inventor. Despite my love for SolidWorks it's cost has prohibited me from using it at home for my own product research and development projects. I have used several free 3D modeling programs over the years and currently use Fusion 360. If I were to start a company of my own tomorrow, I would most likely continue to use Fusion 360 due to its high ROI.
I actually told a SolidWorks trainer that by not having a version that was accessible to hobbyists and start-ups Solidworks was cementing them into cheaper alternatives like Fusion 360. He laughed.
SolidWorks now offers a special $99.00 license for hobbyists. Have they finally realized their mistake?
Now that it's 99$, do you use it? Or still work with fusion360? Thanks for sharing your insight.
@@nm3547
Still using fusion because Solidworks limits you to $2000.00 per year in profits. The paid version of Fusion has no restriction.
All new tech will be replaced by newer tech eventually. Big companies and industries forget this once they are king of the hill. I don't care how good you are at building sandcastles, that rising tide will knock it down.
Update.
I am now moving away from Fusion 360 and towards Free CAD. My number one objection to FUSION is that it is browser based. Free CAD is not. Windows is pushing everyone into the cloud, which is pushing more people towards Linux. I see a future me designing products with Free CAD on desktop or laptop running Linux.
I'm hooked on every word. I had the pleasure of reading something similar, and I was completely hooked. "The Hidden Empire: Inside the Private Worlds of Elite CEOs" by Adam Skylight
Money flows from the impatience to the patience. Chart it out and you can see where the pain point is.
This is great stuff!!! Thanks for starting this channel.
It is so refreshing to hear that even these guys, who are obviously highly intelligent, have also been involved in failed ventures. Invaluable information they have shared.
This channel is amazing. Thank you.
Good talk. I would just extract both Feature and Product, and put them under the Solution umbrella respectively. There should be no feature or product without some form of customer, even if it that person is in house. So Solution --> Market --> Company.
I currently can't afford to get access to Harvard i-lab. totally appreciate this
Shift happens and doesn't have to hit the fan even - just hold the control. 😜🤟
What a brilliant video from HIL. Thanks, Greg for sharing your experience.
btw, could not help but notice @ 56:39 a lady munching lays :D while such invaluable knowledge was being shared.
That is one of the best videos that I have ever seen when it comes to startups... it literally congregates everything which I have learned throughout 2 and a half years, learning things step by step alone. Thank you for this incredible free material Harvard!
You don't even know what a startup is my guy
Could you please mention other similar good videos on startup?
what do you mean?@@happywednesday6741
Look at twitter, they took SMS's and put them online. We don't know if it is going to be a big company yet - had to scroll and see when this was posted. I wonder how many of those people in that room went on to do something
Love the question at 1:40:25
Great speech always even years later. Thanks. Mike and Harvard iLabs. Poin Dexter
1503 model is the best thing, I could learn Today. Try to capture small to medium customer at the fastest possible time by focusing on least friction market segment, then grow.
Excellent. So smart.
From MetalForTheMasses
5 months ago
3:02 Is your idea a Feature, a Product or a Company?
9:19 (Gregg Favalora) Experience with "failure" /complex product
-16:58 Tips shortlist (map the entire money flow for customers)
25:53 Product/Company gap
34:22 What value does the Product offer?
43:44 Product Market Fit
-49:15 How to find customers w/ similar pains (just get out there)
58:15 Roadmapping Vision -> Execution
1:01:42 Build to Attract customers (SLIPPERY products)
1:30:17 (J. McEleney) Experience with companies
I got into harvard university of youtube
Nice. Now you just need to drop out and get rich.
@@karepanman8705 😆
@@karepanman8705 w comment 🤣
😆😆nice one buddy 👍
Ha!
great information! Thanks.
What an informative lecture!
Thanks for sharing this...
excellent thanks for the good work
The problem seems to be that this is about starting up Tech based firms....People tend to forget there are people with Tangible Products that need upstart help. And it seems to me that it's a different world. Which is disappointing. Tech companies are typically a pump and dump scenario for entrepreneurs. But it sort of makes sense if you don't want to deal with unions, Govt intervention, and red tape.
+Rob M If you're manufacturing it's pretty straight forwards. You shouldn't need to deal with union, Govt intervention is just getting permits and abiding by common laws, and red tape shouldn't really exist beyond insurance and patents.
@@jessvagnar4957 "shouldn't" is key word
Amazing content. Learned alot from this talk
Most of this key notes are very relevant today 2021.
Michael Scott! Perfect name for a business man
Thanks to youtube i can watch this lecture for free without going into massive debt
Thank you for the knowledge... Bookmarked
hello pretty lady
I liked the way Michael Skok conducts the session. I appreciate the idea of learning from a failure. I found the last part by ex CEO of Solid Works full of great insight. Overall, very productive two hours spent for someone like me who is focussed on IT products, albeit for another industry segment.
+TV Sinha watch it at 2x speed and then it's a productive one hour.
+Andrew Gallasch i tried it at 2x, it is not possible to understand the words, but with 1.5x, it is understood.
some notes:
feature, product, or company
"where to sell 3d tech" that is actually easy but just wasn't done.
SLIPPERY
segment consumer segments, consumer markets, instead of products.
Really interesting presentation, from someone that seems like they should look vastly older than they are, based on the amount of stress over the decade.
OMG this is Golden, i just graduated, and have 2 months before I launch my online platform. SLIPPERY and Minimum Repeatable business.
How's your business going?
@@herogebrial Sometimes no answer is an answer.
@@cleverusernamecl5532 you're not wrong
Very informative to watch and understandable.
I have picked out some ideas
Not even 500k views on such great content, that's absurd......😑
YES! Thank god for this.
+Melissa Lim did he shot the video?
Youre welcome
This is pure gold!!
just struck a gold mine here!
Absolutely agree. This talk gives you more useful and real life information than probably several graduate level courses. Its a gold mine!
Don't you just love the internet?
ⵔⵓⴽⴰⵜⴽⴰⵜ your nick is perfect
Great Video! Thank you for the advice
can you put all this talk in spotify?
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.
Venturing into the bitcoin without an adequate orientation with a professional broker for accurate signals, you might lose all your hard-earned money
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I'm into Real Estate, but I took the decision to invest in the Crypto market and I have been getting good returns on my investments. The market is also an effective way to grow wealth.
23:45 sounds like "the sursuit of happiness" in real life. appreciate this video.
Great so valuable information. Thank you
Thank you very much. Amazing.
I have watched the whole thing, can I put it on my LinkedIn?
From MVP to MVS. The Minimum Viable Segment is very practise, shoe leather, pad lock the door, getout and get customers.😅 00:52:17
If done right you have the Minimum Repeatable Product (Repeatable, Referenceable).
1:58:25 raising prices helped create a defensible product and it was found with most used add one through anylitics
This video is excellent value!
Learned so much!
Amazing content
Thank you so much Sir
Thanks for sharing!
He should think it would be a good when drawing and displaying ideas when building machinery or anything with moving components. Watching how things work simplifies and gives ideas on how it will work and how it will work for others.
Done during college lecture 👍
Loved the idea of 'slippery products'. It's a cool way to say we need to make things super user-friendly. As someone into UX, this really resonates. It's all about smoothing out the user's journey, making everything click with minimal fuss. Not easy to do, but super rewarding challenge
So many Gems on this
Great content #startup #business
The Amazon "fulfillment center " was the size of a 1 car garage... if that gives you reference.
Hello Harvard thankyou for all your information I am very grateful for that
@45min - this is exactly what’s happening to the EU start-up ARVL. They had a great product for UPS and then started taking feedback from other customers so they changed their vehicle design again before ever brining anything to market. Their shares were once worth $50 now they’re $12.
Super lecture by SolidWorks ex-CEO
I bet if one who do follow through his lecture and practise surely success.
I really thought he said Michael Scott for a second lmao 😂
So did I. lol
thank you bro, you are best !
there is a mention of slides and patents?
Good material
Thankyou , i learned a lot
what do you get after watching this bro? can u please give me a sumarize
Thanks for the advice
Thank you, this is interesting