What They Dont Teach You At Stanford Business School

Stuff you can't learn in B-school: LARRY CHIANG

What The TechCrunch Disrupt Judges Won’t Mentor

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By Larry Chiang

Hunter Walk said they weren’t judging. But rather speed mentoring.

So Partpic, here is some mentorship that Marissa Mayer, Roelof Botha, john Lilly, David Lee, Keith Rabois and Kevin Rose did not mentor Re starting up Partpic

-1- Teaser mentorship.

Specifically, Roelof alluded to it Re crowd sourcing the auto parts identification

Here is what he was driving towards (pun intended). He was recommending that you “hamster wheel the backend”. This is the tactic of the triumvirate of Steve Blank-Eric Ries-Larry Chiang where you perform your website or apps functionality by hand

-2- Arbitrage traffic on. And off.

If you’re doing auto parts, arbitrage the traffic. Arbitrage is buying traffic low and selling it high. “Buy” traffic low by loading up pages with 12 sentences, two pictures and one video.

For example, Braun Power cord 7030458.
https://whattheydontteachyouatstanfordbusinessschool.wordpress.com/2013/10/22/power-cord-braun-7030458-for-braun-shaver/

And then a couple of pictures

Braun power cord for 8000 series. Such as Braun shave 8975

Braun power cord fits Braun shaver model 7526

-3- PartsPic CEO used to work mcMaster

So it’s good that it’s a sequel. ENGR145 has a video that explains sequel startup business concepts

-4- What TechCrunch Disrupt judges won’t mentor you to do is “Cross the Innovation Chasm from the Right”

There is a chasm to cross when you attempt to disrupt. When there is attempted innovation, there is always new consumer behavior required.

Always.

In the specific case for Partpic, people need to

1. Download app called Partpic.
2. Take pic of auto parts pic with a smartphone
3. Send pic in so they can buy it?

Here is a video that explains “Crossing the chasm”

-5- Reducing sales friction.

(Engineering pun intended)

My co-founder of Duck9 has an ancillary site called Complaints.com

You just email your complaints in. He then loads them up.

What him and me propose that Marissa, Roelof, Kevin, Keith, Jason Kincaid, David and John won’t propose is this: Lever the power of email and reduce sales friction.

And hamster wheel the back end. This leads to my last point…

-6- EUTWMPPM

Huh?

Engineer
Up a
Tidal
Wave of
Momentum
Perpetual
Promotion
Machine

So the idea here is to get momentum for your startup.

1. Have people send in auto parts pics with their phone
2. Load up auto parts pictures and get inbound links
3. Set up PartsPic website to accept parts submissions via email or text message
4. Set up website to accept parts pic via a founders cell on the homepage
5. Reduce friction
6. Get sales by doing a model Stanford taught 2010-2012 which is “Reverse Rebate Model”
7. Get sales by doing a “PayPal invoice bounce back on the inbound parts pic”

7a. User submits a pic (or a video!) of a Mercedes Benz S420 ornament.
7b. Partpic then pings back a request to $9.99 fee that tells you what part it is
7c The 9.99 can be applied to the purchase of the part

There is more at the hashtag #EUTWMPPM and #ENGR145
END article

CEO of Duck9
Stanford University’s Founding EIR (Entrepreneur in Residence)

Duck9 = Deep Underground Credit Knowledge 9
c/o UCMS Inc
2021 Midwest Road / 3rd FL
Oak Brook IL
http://www.duck9.com/ass
630-705-5555

650-283-8008 (cell)

****************
Founder of “What They Don’t Teach at Business School” for CNN iReport: http://ireport.cnn.com/people/larrychiang

Author, NY Times Bestseller
http://whattheydontteachyouatstanfordbusinessschool.com/blog/?s=Ny+times+bestseller

“What They Will NEVER Teach You at Stanford Business School about EUTWMPPM @SXSW” comes out 11-11-14

http://www.fastcompany.com/embed/c0d4562ea2049

52 Cards. Two Jokers. What They DO Teach You at Stanford Engineering

Emergency swings and cutting deals as an 9 year old

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Written by Larry Chiang

September 11, 2014 at 4:14 pm

Posted in Uncategorized

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