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Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
Successfulentrepreneurship 101111173533-phpapp01 (1)
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Successfulentrepreneurship 101111173533-phpapp01 (1)

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  • 1. AlexOsterwalder.com @business_design Creating Start-Up Success 101 SteveBlank.com @sgblank Contribution by Alan Smith @thinksmith
  • 2. BusinessModelGeneration.com StevenBlank.com/books.html + this presentation combines two global bestsellers
  • 3. So what makes for a successful start-up?
  • 4. Start with a brilliant founder like...
  • 5. Mike, 34 Stanford Alumnus
  • 6. he used to be an...
  • 7. Experienced Exec
  • 8. All his operating experience built up some...
  • 9. ...outstanding credentials!
  • 10. One day Mike has...
  • 11. A “killer” product idea!
  • 12. A “killer” product idea! he’s really passionate about it
  • 13. Mike’s experienced. He knows how to test his idea using...
  • 14. ...market research
  • 15. The research looks good! Mike moves forward, and writes a fantastic....
  • 16. Great! Based on the credentials, research, and plan, Mike has secured the final piece...
  • 17. ...VC Funding!
  • 18. Money in hand, Mike get’s started on
  • 19. ...building his start-up.
  • 20. He makes the headlines of every major...
  • 21. ... and is invited to give...
  • 22. ...keynote talks
  • 23. Mike and his start-up are on a roll!
  • 24. How likely is his business to succeed?
  • 25. Despite the experience, research and plan...
  • 26. ...Mike slipped up.
  • 27. 29 Let’s help Mike with 5 things he didn’t know.
  • 28. No business plan survives the first customer contact. 1
  • 29. Sticking to a planning document works for a known future, not for a start-up context. Plan’s fail in start-ups.
  • 30. It’s the business model, stupid. 2
  • 31. Hey Mike, your plan was to build a company, but did your plan include a Business Model?
  • 32. “A business model describes the rationale of how an organization creates, delivers, and captures value”
  • 33. Here are the 9 building blocks of a business model:
  • 34. CUSTOMER SEGMENTS images by JAM which customers and users are you serving? which jobs do they really want to get done?
  • 35. VALUE PROPOSITIONS images by JAM what are you offering them? what is that getting done for them? do they care?
  • 36. CHANNELS images by JAM how does each customer segment want to be reached? through which interaction points?
  • 37. CUSTOMER RELATIONSHIPS images by JAM what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?
  • 38. REVENUE STREAMS images by JAM what are customers really willing to pay for? how? are you generating transactional or recurring revenues?
  • 39. KEY RESOURCES images by JAM which resources underpin your b.model? which assets are essential?
  • 40. KEY ACTIVITIES images by JAM which activities do you need to perform well in your b.model? what is crucial?
  • 41. KEY PARTNERS images by JAM which partners and suppliers leverage your model? who do you need to rely on?
  • 42. COST STRUCTURE images by JAM what is the resulting cost structure? which key elements drive your costs?
  • 43. images by JAM customer segments key partners cost structure revenue streams channels customer relationships key activities key resources value proposition
  • 44. “Hmm, interesting so what do I make of that?”
  • 45. use it as a tool to...
  • 46. sketchoutyourbusinessmodel
  • 47. building block
  • 48. building block building block building block building block
  • 49. building block building block building block building block building block building block building block building block building block building block building block building block
  • 50. This tool is called the Business Model Canvas (download with instructions at www.businessmodelgeneration.com/downloads)
  • 51. Take time to think through alternative possibilities. 3
  • 52. the same technology, product, or service can have numerous business models
  • 53. try sketching out alternative business models by asking yourself...
  • 54. transactional vs. recurring revenues fixed vs. variable costs acquisition vs. retention one customer segment vs. another capital expenditure vs. partnership paid vs. free product vs. service copyright vs. copyleft open vs. closed human intensive vs. system intensive personal vs. automated direct sales vs. indirect sales advertising vs. sales niche market vs. mass market scale vs. scope blue ocean vs. red ocean disruptive vs. incremental in-sourcing vs. out- sourcing tailor-made vs. mass production distributed vs. centralized physical vs. virtual difficult questions
  • 55. onlymakeafirstchoiceafterprototyping andthinkingthroughseveralmodels...
  • 56. OK. You’ve got your model, but you’re not done yet...
  • 57. Your business model idea is just a set of hypotheses. 4
  • 58. a business model might look great on paper... building block buildingblock building block building block blockbuilding block building block building block buildingblock building block buildingblock buildingblock building block ... but be honest that it’s
  • 59. guess guess guess guess guess guess guess guess guess guess guess guess ... just a set of hypotheses
  • 60. ...so you need to get out of the building and...
  • 61. test each hypothesis (e.g. with customers)
  • 62. this business model testing process is called Customer Development customer discovery customer validation customer creation company building pivot
  • 63. two different phases...
  • 64. search execution customer discovery customer validation customer creation company building pivot
  • 65. and it starts with...
  • 66. customer discovery customer validation customer creation company building pivot ... verifying every hypothesis
  • 67. test your hypotheses product market type competition
  • 68. test your hypotheses problem customer user payer
  • 69. test your hypotheses channel
  • 70. test your hypotheses problem customer user payer channel product market type competition pricing model validate business model channel (customer) (problem) demand creation
  • 71. to accomplish this you will need a special and agile ...
  • 72. customer development team
  • 73. A team that ...
  • 74. ... gets out of the building!
  • 75. ... to test and adapt your model problem customer user payer channel product market type competition pricing model validate business model channel (customer) (problem) demand creation agile business model adaptation customer development team
  • 76. customer discovery customer validation customer creation company building you need to adapt the business model until you can prove it works pivot
  • 77. “How do I prove a business model works?”
  • 78. One example of “proving” is concluding the ...
  • 79. ...salesofa“minimumviable featureset”
  • 80. This adaptation process is called ...
  • 81. the pivot (repeat * until proven) customer discovery customer validation customer creation company building pivot
  • 82. so do you have any “factual” proof?
  • 83. Congratulations!
  • 84. You finished the search process!
  • 85. So don’t ever forget ...
  • 86. Don’t build your company, until you’ve verified your Business Model 5
  • 87. or you’ll risk ...
  • 88. Burningyourcashwhile searchingforaworking businessmodel
  • 89. execution is not search
  • 90. execution follows search
  • 91. Build when you’ve found your model
  • 92. only then execute:
  • 93. scale your marketing execution customer discovery customer validation customer creation company building pivot
  • 94. and build your org structures execution customer discovery customer validation customer creation company building pivot
  • 95. Don’t build your company, until you’ve verified your Business Model 5 Your business model idea is just a set of hypotheses. 4 Take time to think through alternative possibilities 3 It’s the business model, stupid.2 No business plan survives the first customer contact. 1
  • 96. BusinessModelGeneration.com StevenBlank.com/books.html + you can read more about business models and the customer development process here:
  • 97. BusinessModelGeneration.com AlexOsterwalder.com @business_design StevenBlank.com/books.html SteveBlank.com @sgblank Good Luck! Contribution by Alan Smith @thinksmith

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