You have a clearly defined problem and your customer discovery validates your business hypothesis. But for every answer you’ve painstakingly uncovered, you’re left with 100 more questions. Sure, your customers say they are experiencing a problem. The data points to a deep need and the market size portrays a huge opportunity. But how do you really KNOW? You design tests – smart, measured tests that help you calibrate your strategy and hone your prototype and your marketing and sales strategy. You test, iterate and measure results. You gather evidence.
Liftoff is a notoriously dangerous time. There has been a tremendous amount of preparation and work accomplished by teams of experts but the risks are still very high. You have to conduct small tests to make sure all the systems are a go. It’s time to identify and mitigate unforeseen dangers that could interfere with your liftoff. At the Purdue Foundry, we understand entrepreneurship isn’t a linear process. In fact, early stage startups can feel more like firefighting at times – constantly putting out fires. That’s why we created Liftoff, a series of self-paced workshops that enable founders to learn at their own pace and then work with others to develop various types experiments designed to test aspects of their business hypotheses. This is what we call evidence-based entrepreneurship. It may not ensure a 10x exit, but it goes a long way to reducing the inherent risk of any startup.
What will you learn?
- How to identify and test the greatest risks in your business hypothesis
- How to create a sales and marketing strategy
- How to create financial projections
- How to calculate and test CAC and LTV
- How to communicate results to instill confidence in investors and customers alike
Who should enroll?
Innovators and idea generators who have completed Ignite and/or customer discovery and who intend to start a company in the next 1-3 months.
Moving from idea to impact is a daunting task and for first time founders, the path is riddling with concepts, topics, and challenges they have never encountered before. That’s why the Purdue Foundry has developed a series of self-paced workshops or Jet Packs as we like to call them. These virtual, content-rich workshops allow founders to find the information they need, when they need it.
Need to better understand ecosystem mapping? Want to iterate on your value proposition or business model and need some inspiration? Grab a Jet Pack and you’ll be flying in no time.