Nestholma startup-facilitation-model 2013-05-30


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Model for building lean and customer-focused startups used at Imaging Startup Accelerator Nestholma

Nestholma has systematic and hands-on approach to help startups quickly evaluate and refine big ideas into a customer-centric and value-creating products. The model was created based on the great work by Ries, Blank and other in the startup field.

We wanted to give our startups a clear picture on what we do, how and what are the deliverables. This gives a clear process with well-defined tools that give measurable and customer need-driven milestones for decisions along the way.

Just as startups, the Nestholma model is a work in progress: it should not be taken as a dogmatic process description. In fact, we see it as a constantly changing framework for innovation and learning about how to serve startups event better.

You can learn more about Nestholma at www. nestholmacom
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Nestholma startup-facilitation-model 2013-05-30

  1. 1. Nestholma’s model for buildinglean and customer-focused startupsTopi JärvinenMay 2013www.nestholma.comNestholma in co-operation with
  2. 2. NestholmaImaging AcceleratorHelping startups to becomelean and customer-driven• Nestholma has systematic and hands-onapproach to help startups quickly evaluateand refine big ideas into a customer-centric and value-creating products• Intension is to provide a clear processwith well-defined tools that givemeasurable and customer need-drivenmilestones for decisions along the way• Just as startups, the Nestholma model is awork in progress: it should not be taken asa dogmatic process descriptionBased on tools and thinking by Eric Ries (”TheLean Startup”), Steve Blank (”CustomerDevelopment”) and Alex Osterwalder(”Business Model Canvas”)2
  3. 3. NestholmaImaging AcceleratorStartups are about learning what is the customerproblem and how to build business around that• Some key lessons learned fromstudying 650+ startups (StartupGenome Report)– Premature scaling of business andcompany is the most commonreason for startups to fail– Founders that learn are moresuccessfulStartup is an experimentthat gathers validatedlearning about customersStartup needs a vision or bigidea, but initially theproduct and customer areunknowns3
  4. 4. NestholmaImaging AcceleratorNestholma offers a fast and iterativeprocess for finding value-creating productsBig idea orVision(Define customer,solution and businesshypotheses)Ideaexploration(What is the real-lifecustomer problem andsolution?)CustomerDiscovery(Are there enoughcustomers to sustaina business?)CustomerValidation(Pursue funding for thevalidated customerproblem and solution)Funding1 2 3 4 5Pivot if neededCustomer needPatents / IPRBusiness modelMin. Viable ProductContinuous iterationBased on Lean Startup, Customer Development, Business Model Canvas4
  5. 5. NestholmaImaging AcceleratorIdea exploration1 Free brain-storming24310+ service ideasBrief market studyand benchmarkingCurrent market anduser need assumptionsChoose first ideasto pursuePrioritized ideadefinitions (max. 3)Define first draft of thebusiness model(s)Business model canvasfor each ideaDefine customer, solution and business hypotheses25
  6. 6. NestholmaImaging AcceleratorCustomer DiscoveryWhat is the real-life customer problem and solution?1Define target customer,their need/problem andpotential solution243Customer, problem andsolution hypothesisGet validation for thehypothesis from realpotential customersValidated (or in-validated)hypotheses using interviewsand MVP’sDefine a business modelbased on the learnings fromcustomersBusiness model hypothesisDefine 2nd draft of thebusiness model(s)Business model canvasfor the validated solution36
  7. 7. NestholmaImaging AcceleratorCustomer Validation1Build and test more refinedMVP with larger audience243Validate the product withrepeated useDefine market demand based ontesting and market potentialDetailed business case analysis based onvalidated numbersDefine 3rd draft of thebusiness modelBusiness model canvas for thevalidated productDefine Go-to-Market plansand materialsProduct positioning, sales & marketingmaterials (incl. channels, salesroadmap etc.)Are there enough customers to sustain a business?47
  8. 8. NestholmaImaging AcceleratorFunding1Prepare investor materialsbased on validated learnings243Executive summary,ppt presentation with basic businesscase excelLearn effectivepresentation and pitchingGet prepared for meetingsIdentify, contact and meetsuitable angel and/or VC investors# contact and meetingsFacilitate the founders tofind the best investor(s)Analysis of the pros and cons ofthe investment proposalsPursue funding for the validated customer problem and solution58
  9. 9. NestholmaImaging AcceleratorDETAILS9
  10. 10. NestholmaImaging AcceleratorIdea exploration 2 3 4 51Make first hypothesis of the customers,product and businessDescriptionBusiness model canvasToolsFounders: ideasNestholma: business model canvasfacilitiation and further idea refinementsRoles and contribution1st version(s) of the business modelcanvasDeliverablesDecicion point: proceed to step 3 in order to validated or invalidate customer,solution and busines hypothesis10
  11. 11. NestholmaImaging AcceleratorCustomer DiscoveryFirst, understanding of the customerproblem or need is tested. Then asolution for the customer problem istested. Aim is to validate or invalidatecustomer, solution and businesshypotheses. Patents are filed if possible.Description• F2F customer interviews• Business model canvas• Validation board (leanstartupmachine)• Startup Compass benchmarksTools• Who’s the customer?• What’s their problem/need• What it solves the customers problem?• How do you make money?Questions• Validated or invalitaded customer,solution and business hypothesis• 2nd version of the business modelcanvasDeliverablesDecicion point: if hypothesis are validated proceed to step 4, otherwise pivot and go backto step to ”Idea exploration”1 2 3 4 511
  12. 12. NestholmaImaging AcceleratorCustomer ValidationTest that customer discovery businessmodel is repeatable and scalable. Makesure that startup and product is ready forfunding.Description• Build more refined Minimum ViableProduct(s) and test them• A/B split testing• Customer feedback, interviews (f2f orusing a research tool such as AYTM)• Business model canvas• Startup Compass benchmarksTools• How big is the market?• How do you create demand?• What are the drivers of growth?• How do you deliver the product?• How do we position our product?Questions• Validated or invalitaded repeatable andscalable business model• product positioning• sales/ marketing materials and plan for“test selling” efforts• distribution channel plan• sales roadmapDeliverablesDecicion point: if hypotheses are validated, proceed to step 5. Otherwise pivot and go backto step to ”idea exploration” or ”Customer discovery”1 2 3 4 512
  13. 13. NestholmaImaging AcceleratorFundingPrepare appropriate materials for aninvestment round and rehearse a greatpitch. Find and contact potentialinvestorsDescription• Various tools as needed to facilitate theprocess (lead management, dataroom,legal templates etc.)Tools• Founders: material preparationinvestor negotiations• Nestholma: Help in contactingpotential investors. Give advice andfeedback on greating a great pitch.Facilitate collecting and preparing thematerials for the investor round.Roles• one slider (business model canvas)• excel with validated numbers andassumptions from customerdevelopment phase• ppt deck (max. 20 slides)• Meetings with #num# angel investorsand/or #num# VC’sDeliverablesDecicion point:Which investor brings the most overall value (monetary, skills, contacts etc.).1 2 3 4 513
  14. 14. NestholmaImaging AcceleratorNestholma builds a center for innovationfor imaging and graphic industry startups• Nestholma provides a unique environment withaccess to photo lab and commercial printingfacilities, help in business and conceptdevelopment, legal and getting funding.• Nestholma has a unique lean startup –drivenmodel for helping startups to build customer-focused imaging innovations and businesses.• Nestholma offers a three month Imaging StartupProgram (NISP) as well as daily support andmentoring for selected startups all year round14
  15. 15. NestholmaImaging AcceleratorGet in touch with NestholmaTopi Jä