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Swissnex Workshop on Venture Design

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This is a workshop I did with a set of students from Switzerland at Swissnex- SF.

This is a workshop I did with a set of students from Switzerland at Swissnex- SF.

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    Swissnex Workshop on Venture Design Swissnex Workshop on Venture Design Presentation Transcript

    • Copyright 2013 Cowan Publishing Swissnex Workshop info@alexandercowan.com alexandercowan.com @cowanSF
    • Copyright 2013 Cowan Publishing
    • Copyright 2013 Cowan Publishing
    • Copyright 2013 Cowan Publishing Design Thinking Lean Startup Customer Dev. Agile } BIG VOID { Actual Practice
    • Copyright 2013 Cowan Publishing ~ POOR VISIBILITY X LACK OF TOOLS X OUTCOMES VS. OUTPUT X DISINTEGRATED APPROACH
    • Business Model Canvas Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Product & Promotion User Stories Test Cases ExperimentLearn Hypothesize Lean Startup- Style Assumptions Foundation in Design Thinking
    • Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Foundation in Design Thinking
    • Copyright 2013 Cowan Publishing Design Thinking And Now Survival Back Then DESIGN THINKING
    • Copyright 2013 Cowan Publishing Empathy DESIGN THINKING Creativity
    • Copyright 2013 Cowan Publishing DESIGN THINKING- APPLICATIONS
    • Copyright 2013 Cowan Publishing Entry1 Urinate as they go2 Edges preferred3 Speedy4 PB > cheese5 Empathy DESIGN THINKING- APPLICATIONS
    • Copyright 2013 Cowan Publishing Check & Repair UV Validation Relevant Placement A Better Mouse Trap Powered by Better Bait Creativity 1 2 3 4 5 DESIGN THINKING- APPLICATIONS
    • Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN - PERSONAS Personas Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions
    • Copyright 2013 Cowan Publishing DESIGN THINKING - PERSONAS
    • Copyright 2013 Cowan Publishing DESIGN THINKING - PERSONAS
    • Copyright 2013 Cowan Publishing •Women •Age 28-45 •Have kids •Socialize with other mom’s •Online with Facebook •86% said they’d like to be more organized •70% said they’d use an application that organizes them DESIGN THINKING - PERSONAS
    • Copyright 2013 Cowan Publishing DESIGN THINKING - PERSONAS
    • Copyright 2013 Cowan Publishing Mary is a mom by choice. She had a successful career in accounting, but welcomed the opportunity to be a stay at home mom. She loves it. But it’s not like having kids purged her creative, social instincts. She wants to connect, she wants to learn, she wants to interact. Being a mom is a job and she wants to do it well. That means corresponding with other mom’s on relevant topics and keeping the family calendar in ship shape. She posts to Facebook at least twice a week and responds to other moms’ items more often than that. For household stuff, Costco is the go-to place, but she’ll pick up fresh items at the farmer’s market when it’s up and splurge at Whole Foods when they’re having company. Mary the Mom DESIGN THINKING - PERSONAS
    • Copyright 2012 Cowan Publishing END USER PERSONAS Rita the Reseller Orson the Office Mgr. Ignatius the IT Guy Rhonda the Receptionist Susan the Small Bus. Owner Keith the Key System User Amy the Assistant Simone the Standard User Chuck the Call Center Agent Esteban the Executive Mikuko the Mobile User Cindy the Call Center Manager
    • Copyright 2012 Cowan Publishing ENTERPRISE PERSONAS Nietzsche the Network Eng. Paola the Provisioner Sidney the Sys. Admin. Percival the Product Manager Sven the Salesperson Anthony the Applications Eng. Itzhak the IT Developer Frank the Field Eng. Sam the Support Eng. Saul the Site Developer Fritz the Field Eng. Manager Bruce the Business Owner
    • Copyright 2013 Cowan Publishing YOUR VALUE PROPOSITIONS ! ALTERNATIVE(S) ? PROBLEM SCENARIO X DESIGN THINKING - PERSONAS
    • Copyright 2013 Cowan Publishing MARY THE MOM About: Mary the mom. . . [Describe like your friend or the beginning of a short story. What kind of shoes does she wear?]. . . Thinks: . . . Sees: . . . Feels: . . . Does: . . . 1. List at least 3 personas 2. More time? Describe as much as you can the items below. (5 min)
    • Copyright 2013 Cowan Publishing 1. Which are buyers? Users? Both? Note with a ‘B’ and/or ‘U’ on the Post-It (2 min.) 2. Which have the most compelling need, desire? Sort top to bottom (3 min.)
    • Copyright 2013 Cowan Publishing DESIGN THINKING - USING PERSONAS Personas Problem Scenarios Alternatives Your Value Propositions MAKING STUFF SELLING STUFF Who’s buying? Where? Why? What does the user actually do? Who are we selling to? Where do we reach them? With what proposition? What does the user (most) want? Personas Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions
    • Copyright 2013 Cowan Publishing MVP DESIGN THINKING - CREATING PERSONAS Tell me about yourself. What do you do? How often? How does it make you feel? Interviews AdWords, etc. + Landing Page Tests Real-Time Analytics & Recording Minimum Viable Product What language, propositions resonate? What is the customer prepared to do? What do users actually do? Do customers like it? Buy it? Use it? Tell others about it?
    • Copyright 2013 Cowan Publishing Who is the buyer? User? What problem(s) are you solving? Personas Problem Scenarios What’s the business? Positioning Statement, Business Model Canvas What has to happen? Lean Startup-Style Assumptions What economics and requirement for cash? Lean Financial Model What’s the operating environment like? Five Forces Analysis Pitch Deck (coming soon) I need a compact overview I’m going to a bank, traditional investor Business Plan I need to present financial (tax, financiers). Income Statement, Statement of Cash Flows, Balance Sheet Operational Stack Presentation Stack VENTURE DESIGN STACK Corp. WebsiteI need to communicate [various items in Ops Stack] What are we building? Why? User Stories Wireframes/ Prototypes
    • Copyright 2013 Cowan Publishing 1. Brainstorm Problem Scenario-Alternative- Value Proposition Trios. (10 min.) YOUR VALUE PROPOSITIONS ! ALTERNATIVE(S) ? PROBLEM SCENARIO X
    • Copyright 2013 Cowan Publishing http://bit.ly/venstack PERSONAS PROBLEM SCENARIOS STORYBOARDS Tutorial ?Example Template
    • Copyright 2013 Cowan Publishing BUSINESS MODEL CANVAS
    • Copyright 2013 Cowan Publishing BUSINESS MODEL CANVAS Value Propositions Customer Segments
    • Copyright 2013 Cowan Publishing BUSINESS MODEL CANVAS
    • Copyright 2013 Cowan Publishing BUSINESS MODEL CANVAS
    • Copyright 2013 Cowan Publishing BUSINESS MODEL CANVAS Value Propositions Customer Segments Customer Relationships Channels Key Activities Key Resources Key Partnerships Cost Structure Revenue Streams
    • This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http:// creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.The templates here are made available on the same CC license terms as the original canvas. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Segment_1 Segment_2 Segment_3 Copyright 2013 Cowan Publishing 1. Print out the Canvas 2. List your prioritized personas (Customer Segments) and Value Propositions 3. Map your personas to your Value Propositions
    • Copyright 2013 Cowan Publishing MARY THE MOM About: . . . Thinks: What do they think about your area of endeavor? Sees: What observations do they likely make? Feels: How does it really make them feel? Does: What do you actually see them doing today? 1. Pick your top persona 2. Detail Think-See-Feel-Do (15 min.)
    • Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Personas Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions ExperimentLearn Hypothesize Lean Startup- Style Assumptions
    • Copyright 2013 Cowan Publishing PLANNING !5,000,000% 0% 5,000,000% 10,000,000% 15,000,000% 20,000,000% 25,000,000% 30,000,000% 35,000,000% 40,000,000% 45,000,000% 2012% 2013% 2014% 2015% 2016% 2017% 2018% 2019% 2020% Revenue% Expense% EBITDA% Five Year Plan Then Lean Management Now 6.a PIVOT experiments disprove hypothesis 01 IDEA! 02 HYPOTHESIS 03 EXPERIMENTAL DESIGN 04 EXPERIMENTATION 05 PIVOT OR PERSEVERE? 6.b PERSEVERE
    • Copyright 2013 Cowan Publishing PLANNINGPLANNING WITH LEAN STARTUP Do I have real evidence from my buyer that this is compelling? 01 IDEA! What are the key assumptions required to make this business work? 02 HYPOTHESIS How do I definitely prove or disprove the assumptions with a minimum of time and effort? 03 EXPERIMENTAL DESIGN 04 EXPERIMENTATIONAm I reacting or am I focused on validating my pivotal assumptions? ‘Pivot or persevere?’
    • Copyright 2013 Cowan Publishing Priority Key Assumption Needs Proving? Experimentation 1 [A key assumption about the business] [Whether it needs proving [Experiment to prove or disprove] 1 Parents want to organize the distribution of allowances with an app Yes * Post the proposition in ads online * Measure sign-up’s on a landing page 2 Parents want to link allowances to chores Yes * Show prototypes with choices * Test in beta 2 Parents have smart phones No n/a PLANNING WITH LEAN STARTUP Focus on strategic, pivotal assumptions
    • Copyright 2013 Cowan Publishing PLANNING WITH LEAN STARTUP Crossing t’s Dotting i’s Doesn’t matter unless it helps prove (or disprove) your pivotal assumptions
    • Copyright 2013 Cowan Publishing PLANNING WITH LEAN STARTUP Subject all your activities + metrics to that litmus test.
    • Copyright 2013 Cowan Publishing CONCIERGE MVP AND LEAN STARTUP Get paid for customer discovery.
    • Copyright 2013 Cowan Publishing Priority Key Assumption Needs Proving? Experimentation 1 [A key assumption about the business] [Whether it needs proving [Experiment to prove or disprove] 1 Parents want to organize the distribution of allowances with an app Yes * Post the proposition in ads online * Measure sign-up’s on a landing page 2 Parents want to link allowances to chores Yes * Show prototypes with choices * Test in beta 2 Parents have smart phones No n/a PLANNING WITH LEAN AT LARGE
    • Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Personas Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions Lean at Large ExperimentLearn Hypothesize Lean Startup- Style Assumptions
    • Copyright 2013 Cowan Publishing PLANNING WITH LEAN AT LARGE Let’s not argue. Let’s assume. Then test.
    • Copyright 2013 Cowan Publishing PLANNING WITH LEAN AT LARGE
    • Copyright 2013 Cowan Publishing “Parents want to better organize the distribution of allowances” Priority: [1 for existential; 2+ for others] Needs Proving?: [yes or no] Experimentation: [how will most quickly, cheaply prove or disprove] * Bonus Question: How do these relate to your personas? 1. List at least 3 assumptions 2. Note as much as you can on experiments (5 min)
    • Copyright 2013 Cowan Publishing 1. Rank order them. Which ones are truly pivotal? Note with a ‘1’. (3 min.) 2. Write up experiments for each starting with the most pivotal. (10 min.)
    • Copyright 2013 Cowan Publishing http://bit.ly/venstack ASSUMPTIONS EXPERIMENTAL DESIGN Tutorial ?Example Template
    • Copyright 2013 Cowan Publishing DESIGN THINKING - STORYBOARDS BEFORE
    • Copyright 2013 Cowan Publishing DESIGN THINKING - STORYBOARDS AFTER
    • Copyright 2013 Cowan Publishing DESIGN THINKING- STORYBOARDS Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec feugiat magna erat, eget mattis turpis bibendum in. Curabitur eget adipiscing dolor. Morbi cursus luctus rhoncus. Cras sagittis cursus libero sit amet ullamcorper. Phasellus vitae consequat enim. Vivamus in tortor sit amet nibh molestie tristique sed vel neque. Nunc sed dictum ligula. Quisque sollicitudin neque mauris, at vulputate odio fringilla ut. Pellentesque mattis at risus et volutpat. Nunc tristique adipiscing neque vel ornare. Donec a pretium metus, vitae adipiscing augue. Morbi ac suscipit tellus. Vestibulum gravida molestie est vel vehicula. Phasellus eleifend nisi cursus nunc facilisis egestas. Aliquam venenatis et libero commodo convallis. Donec accumsan elit non turpis pulvinar, id sodales purus blandit. Phasellus tristique fermentum nunc in feugiat. Maecenas eget varius est, id malesuada est. Fusce vitae nunc purus. Nam vehicula eros vitae sapien scelerisque auctor. Maecenas et justo ac libero dictum dapibus. Etiam volutpat erat eget ante ullamcorper placerat. Maecenas convallis massa aliquam ullamcorper posuere. Phasellus nulla est, rhoncus blandit dapibus sit amet, facilisis at orci. Nulla facilisi. Maecenas ultrices justo quis nibh sagittis tempor. Pellentesque id semper turpis.
    • Copyright 2013 Cowan Publishing 1. Using the squares, create a before and then after set of storyboards- 3 panels each (10 min)
    • Copyright 2013 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention
    • Copyright 2013 Cowan Publishing 1. Using the squares, create an AIDA storyboard - 4 panels. Add 2 more panels for O, R if you like (10 min) Attention- How do they hear about it? Take notice? Interest- Why do they keep reading, listening, etc.? Desire- What makes them want it? Action- What do they have to do? Is it easy? Onboarding- What’s the process to get rewarded for using the product? Retention- Do they re-buy? Tell others?
    • Copyright 2013 Cowan Publishing Use the Venture Design Template (bit.ly/1fXfhXB) What would you ask your key persona to understand them better without asking things that will get you ‘yellow walkman data’?
    • Copyright 2013 Cowan Publishing Area Examples Questions (‘Enable Quiz’) Understand the Buyer’s Operating Environment - What is your current process for vetting engineering candidates? - Do you ever hire candidates who later turn out not to have been good hires? - What are the different reasons a candidate might turn out to be a bad fit”        - Probe around cultural fit, personality, technical skills, ability to    communicate, team player, etc. - How many tech hires have you made in the past 3 years?  How many were bad and what was their break down by bucket? - What happens when you find out someone is a bad hire? - Can you think about the last candidate you hired that turned out to be a bad (tech skills) hire? (5 min)
    • Copyright 2013 Cowan Publishing Area Examples Questions (‘Enable Quiz’) Understand the Buyer’s Learning Environment - Do you have any ideas on how you might prevent this from recurring?  Are there things you’ve seen at other companies that worked better? (3 min)
    • Copyright 2013 Cowan Publishing Area Examples Questions (‘Enable Quiz’) Understand the Buyer’s Perception of the Problem or Need You’re Addressing - What are the implications of a bad hire (focus on costs, morale, productivity, missing deadlines, etc.) - Thinking about that candidate, what was your current vetting process good at catching and where did it fall short? - If we go back to your list of reasons for a bad hire, how would you rank them in importance to catching a bad fit in that criteria (tech skills, personality, culture fit)?  a.     Add 1 – 10 scale now on importance?  b.     Now if you had rank how well your current process is at   identifying bad fits in these areas, how would rank each area 1 – 10? Make sure to listen for specific word choices and write those down. (5 min)
    • Copyright 2013 Cowan Publishing ORGANIZATION == Aping Then Customer Development Now
    • Copyright 2013 Cowan Publishing CUSTOMER DEVELOPMENT MVP Nascent Product-Market Fit(?) Scale PIVOTAL ASSUMPTIONS PRODUCT ORG. PARTNERS, CHANNELS Founders N/A Probably too soon Test, revise, test... MVP Customer dev. team Probably too soon Validated- now tactical Focus: efficiency, extension Full functional organization Yeah, maybe? Validated- now tactical What would a startup do?? Scalable organization Yeah, definitely!
    • Business Model Canvas Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Personas Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions ExperimentLearn Hypothesize Lean Startup- Style Assumptions
    • Specialties (VARIOUS)DESIGN UNIXSYSADMIN RUBY PYTON JAVA PHP ... ... ... SEO ANALYTICS ... (VARIOUS)MGMT. ... Copyright 2013 Cowan Publishing Basic Technical Literacy SOFTWARE FUNDAMENTALS Model-View-Controller ARCHITECTURE FUNDAMENTALS App. & Platform Integration ROLES & SYSTEMS In a Technical Team Stories Personas Development Discussion Foundation Concepts ITERATIVE MANAGEMENT DESIGN THINKING CUSTOMER DEVELOPMENT AGILE Collaboration AGILE As Product Owner PROFESSIONAL DEVELOPMENT
    • Copyright 2013 Cowan Publishing DEVELOPMENT Waterfall Then Agile Now
    • Copyright 2013 Cowan Publishing VENTURE/PROJECT DESIGN Business Model Canvas Product & Promotion User Stories Test Cases ExperimentLearn Hypothesize Lean Startup- Style Assumptions Foundation in Design Thinking
    • Copyright 2013 Cowan Publishing Individuals Interactions > Processes Tools Working software Comprehensive Documentation > Customer collaboration Contract negotiation> Responding to change Following a plan > AGILE FOUNDATIONS
    • Copyright 2013 Cowan Publishing Drafting Stories PERSONAS STORIES Epic Stories Stories Test Cases “As a [persona], I want to [do something] so that I can [derive a benefit]” AGILE USER STORIES
    • Copyright 2013 Cowan Publishing STORY TEST CASE “As a receptionist I want to receive an out of the box phone Make sure the available templates are editable in a visual environment usable by a Product Manager As a receptionist, I want to receive an out of the box phone set up that’s created against best practices so I don’t have to set it all up by myself.” Make sure it’s possible to update the template at install timeto set it all up by myself. Make sure the template designation is available in all Loki provisioning interfaces Make sure it’s possible for the user to reset to the default template “As a receptionist, I want to change the buttons on my phone so they do what I want.” Make sure the available functions are filtered by the services assigned to the user Make sure available functions are filtered based on the capabilities of the phone key “As a receptionist, I want a custom configuration on my phone so that I can manage calls in the way I’ve come to expect.” EPIC STORY AGILE USER STORIES
    • Copyright 2013 Cowan Publishing AGILE & LEAN validate feature relevance with customers Past collaborate with development team Present observe and envision what’s next Future
    • Copyright 2013 Cowan Publishing DESIGN/DEVELOPMENT - PROCESS DESIGN http://bit.ly/leanproc TUTORIAL TEMPLATE FILE (coming soon) Tutorial ?Example Template
    • Copyright 2013 Cowan Publishing FULL CIRCLE ! THINK SEE FEEL DO PERSONAS Who? X PROBLEM SCENARIOS What? USER STORIES How? VALUE PROPOSITIONS & ASSUMPTIONS What if? ! PRODUCT & PROMOTION Pivot? / WIREFRAMES/ PROTOTYPES How? .. Scale?
    • Copyright 2013 Cowan Publishing BUY THE BOOK A practical primer for anyone wanting to actually implement today’s best practices in product development (available online or at any major retailer) VISIT THE SITE Free talks, tutorials, and resources for product development and new ventures.
    • Copyright 2013 Cowan Publishing acowan@alexandercowan.com @cowanSF www.alexandercowan.com/resources bit.ly/swnexac www.alexandercowan.com/speaking www.alexandercowan.com/startup-sprints