SlideShare for iOS
by Linkedin Corporation
FREE - On the App Store
“Customers Deserve the Best Products, Services, and Tools to Help Them Delightfully Get Their Jobs Done” ...
“Customers Deserve the Best Products, Services, and Tools to Help Them Delightfully Get Their Jobs Done”
Wouldn’t it be great if we so deeply understand customers that we could accurately predict customers’ adoption, hiring, and buying decisions? Then, no startup or established business would build products, services, and tools that customers do not want or buy. Waste in business and the dismal failure of startups would be eliminated. Newly launched products, services, and tools would achieve Product-Market fit in no time. And … gainful employment, generated income, and standard of living would be higher. But, why do we not have this paradise especially in the world of entrepreneurship and startups?
My main hypothesis is that currently, business management is largely an art the mastery and tacit knowledge of which reside with a few practitioners such as the late Steve Jobs. Business management is still a blackbox: we know what goes in and what comes out of business. However, we have yet to fully figure out and accurately model how the inside of a business’s blackbox interacts with the environment at present as well as in future.
In the past, the main tools for systematically planning, launching, and building products, services, and organizations was the voluminous and rigid business plan. In today’s volatile, uncertain, complex, and ambiguous environment, the voluminous and rigid business plan is increasingly considered inappropriate. New tools are emerging to replace the business plan especially in the world of startups. This article focuses on tools that facilitate the achievement of Product-Market Fit since Product-Market fitness is considered the greatest risk to having a repeatable and scalable business model and consequently, a profitable and enduring organization.
In this presentation, two tools are presented that focus on achieving Product-Market Fit. One is Alexander Osterwalder’s Value Proposition Canvas (VPC) while the other is my 1-Minute Value Proposition Act (VPA). Both the VPC and 1-Minute VPA are modules of a business model (story). The VPC focuses on the “Job-To-Be-Done” as a unit of analysis while the 1-Minute VPA considers a “customer’s trade-off and decision-making” as the unit of analysis.
In the presentation, elements of the VPC and 1-Minute VPA are considered and examined within the context of a case study. The aim is to enable readers which include entrepreneurs and startups to compare and contrast the two tools with a view to making informed decisions while trying to achieve Product-Market Fit for newly launched products, services, and organizations. As the quote at the beginning says: “Customers Deserve the Best Products, Services, and Tools to Help Them Delightfully Get Their Jobs Done.”
Your feedback would be greatly appreciated.