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Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
Aalto demolish the status quo in entrepreneurial education 090511
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Aalto demolish the status quo in entrepreneurial education 090511

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  • 1. Demolishing the Status Quo in Entrepreneurial Education<br />
  • 2. I Write a Blog <br />www.steveblank.com<br />
  • 3. This Talk is Based On<br />Business Model Generation<br />Four Steps to the Epiphany<br />The Lean Startup<br />
  • 4. This Talk<br />What’s a Startup?<br />Search versus Execution<br />Entrepreneurship As a Mgmt Science<br />B-Schools = Large company mgmt<br />Incubators = the transition<br />E-School = the conclusion<br />
  • 5. First -What’s A Startup?<br />Six Types of Startups<br />
  • 6. Startup<br />Lifestyle Startups Work to Live their Passion<br /><ul><li>Serve known customer with known product
  • 7. Pay for their passion</li></li></ul><li>Small Business<br />Startup<br />Small Business StartupsWork to Feed the Family<br /><ul><li>Serve known customer with known product
  • 8. Feed the family</li></li></ul><li>Small Business<br />Startup<br />Exit Criteria<br /><ul><li> Business Model found</li></ul>- Profitable business<br /><ul><li> Existing team</li></ul>&lt; €100K in revenue<br />Small Business StartupsWork to Feed the Family<br /><ul><li>known customer known product
  • 9. Feed the family</li></li></ul><li>Small Business<br />Startup<br />- Business Model found<br />- Profitable business<br /><ul><li> Existing team</li></ul>&lt; $10M in revenue<br />Small Business Startups<br /><ul><li>5.7 million small businesses in the U.S. &lt;500 employees
  • 10. 99.7% of all companies
  • 11. ~ 50% of total U.S. workers</li></ul>http://www.sba.gov/advo/stats/sbfaq.pdf<br />
  • 12. Scalable<br />Startup<br />Large Company<br />Scalable Startup<br />Search<br />Goal is to solve for:<br /> unknown customer and unknown features <br />
  • 13. Execute<br />Search<br />Scalable<br />Startup<br />Large Company<br />Exit Criteria<br /><ul><li> Business model found
  • 14. Total Available Market &gt; €300m
  • 15. Can grow to €50/year</li></ul>Scalable StartupBorn to Be Big<br />
  • 16. Scalable<br />Startup<br />Large Company<br /><ul><li> Total Available Market &gt; $500m
  • 17. Company can grow to $100m/year
  • 18. Business model found
  • 19. Focused on execution and process
  • 20. Typically requires “risk capital”</li></ul>Scalable Startup<br />Execute<br />Search<br /><ul><li> In contrast a scalable startup is designed to grow big
  • 21. Typically needs risk capital
  • 22. What Silicon Valley means when they say “Startup”</li></li></ul><li>The Transition – Founders Leave<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Build<br />Execute<br />Search<br />Founders depart<br /><ul><li> Operating executives
  • 23. Professional Mgmt
  • 24. Process
  • 25. Beginning of scale</li></li></ul><li>Buyable StartupBorn to Be Big<br />Search<br />Sell<br />Scalable<br />Startup<br />€3 to 30M Acquisition<br />Goal is to solve for:<br /> Internet, Mobile, Gaming Apps<br />
  • 26. Buyable Startup<br />Search<br />Sell<br />Scalable<br />Startup<br />€3 to e0M Acquisition<br />Goal is to solve for:<br /> Internet and Mobile Apps<br />Sell to larger company<br />
  • 27. Scalable<br />Startup<br />Large Company<br /><ul><li>Business Model found
  • 28. i.e. Product/Market fit</li></ul>- Repeatable sales model<br />- Managers hired<br />What’s A Startup?<br />Search <br />Execute<br />A Startup is a temporary organization used to search for a repeatable and scalable business model <br />
  • 29. Large Company Sustaining InnovationInnovate or Evaporate<br />Sustaining Innovation<br />Transition<br />Scalable<br />Startup<br />Large Company<br /><ul><li> Existing Market / Known customer
  • 30. Known product feature needs</li></li></ul><li>Large Company Disruptive Innovation<br />New Division<br />Transition<br />Large Company<br />Disruptive Innovation<br /><ul><li>New Market
  • 31. New tech, customers, channels</li></li></ul><li>Large Company Disruptive Innovation<br />New Division<br />Transition<br />Large Company<br />Disruptive Innovation<br /><ul><li>Build
  • 32. Acquire</li></ul> - IP- Talent<br /> - Product<br /> - Customers<br /> - Business<br />
  • 33. Large Non-Profit<br />Social Startup<br />Social Entrepreneurship Startups<br /><ul><li>Solve pressing social problems
  • 34. Social Enterprise: Profitable
  • 35. Social Innovation: New Strategies</li></li></ul><li>Each of these startups require different skills<br />They Can Not Be Taught the Same Way<br />
  • 36. Search Versus ExecutionWhy Accountants Don’t Run Startups<br />
  • 37. Startups Search and Pivot<br />The Search for the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br /> Business Model found<br /><ul><li> customer needs/product features found</li></ul> i.e. Product/Market fit<br /><ul><li>Found by founders, not employees
  • 38. Repeatable sales model</li></ul>- Managers hired<br />
  • 39. Startups Search, Companies Execute<br />The Execution of the Business Model<br />The Search for the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br />- Cash-flow breakeven<br />- Profitable<br />- Rapid scale<br />- New Senior Mgmt<br />~ 150 people<br /><ul><li>Business Model found
  • 40. Product/Market fit</li></ul>- Repeatable sales model<br />- Managers hired<br />
  • 41. Metrics Versus Accounting<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large<br />Company<br />Traditional Accounting<br /><ul><li>Balance Sheet
  • 42. Cash Flow Statement
  • 43. Income Statement</li></li></ul><li>Metrics Versus Accounting<br />The Search for the Business Model<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large<br />Company<br />Startup Metrics<br /><ul><li> Customer Acquisition Cost
  • 44. Viral coefficient
  • 45. Customer Lifetime Value
  • 46. Average Selling Price/Order Size
  • 47. Monthly burn rate
  • 48. etc. </li></ul> Traditional Accounting<br /><ul><li> Balance Sheet
  • 49. Cash Flow Statement
  • 50. Income Statement</li></li></ul><li>Customer Validation Versus Sales<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large<br />Company<br />Sales<br /><ul><li>Sales Organization
  • 51. Scalable
  • 52. Price List/Data Sheets
  • 53. Revenue Plan</li></li></ul><li>Customer Validation Versus Sales<br />The Search for the Business Model<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large<br />Company<br />Customer Validation<br /><ul><li> Early Adopters
  • 54. Pricing/Feature unstable
  • 55. Not yet repeatable
  • 56. “One-off’s”
  • 57. Done by founders</li></ul>Sales<br /><ul><li> Sales Organization
  • 58. Scalable
  • 59. Price List/Data Sheets
  • 60. Revenue Plan</li></li></ul><li>Customer Development VersusProduct Management<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br /> Product Management<br /><ul><li> Delivers MRD’s
  • 61. Feature Spec’s
  • 62. Competitive Analysis
  • 63. Prod Mgmt driven</li></li></ul><li>Customer Development Versus Product Management<br />The Search for the Business Model<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br /> Product Management<br /><ul><li> Delivers MRD’s
  • 64. Feature Spec’s
  • 65. Competitive Analysis</li></ul>Customer Development<br /><ul><li> Hypothesis Testing
  • 66. Minimum Feature Set
  • 67. Pivots
  • 68. Founder-driven</li></li></ul><li>Engineering Versus Agile Development<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Engineering<br /><ul><li> Requirements Docs.
  • 69. Waterfall Development
  • 70. QA
  • 71. Tech Pubs</li></li></ul><li>Engineering Versus Agile Development<br />The Search for the Business Model<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Engineering<br /><ul><li> Requirements Docs.
  • 72. Waterfall Development
  • 73. QA
  • 74. Tech Pubs</li></ul>Agile Development<br /><ul><li> Continuous Deployment
  • 75. Continuous Learning
  • 76. Self Organizing Teams
  • 77. Minimum Feature Set
  • 78. Pivots</li></li></ul><li>Startups Model, Companies Plan<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Business Plan<br /><ul><li>Plan describes “knowns”
  • 79. Known features for line extensions
  • 80. Known customers/markets
  • 81. Known business model</li></li></ul><li>Startups Model, Companies Plan<br />The Search for the Business Model<br />The Execution of the Business Model<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Business Model<br /><ul><li> Unknown customer needs
  • 82. Unknown feature set
  • 83. Unknown business model
  • 84. Model found by iteration
  • 85. Plan describes “knowns”
  • 86. Known features for line extensions
  • 87. Known customers/markets
  • 88. Known business model</li></li></ul><li>Startups Are Not Small Versions of Large Companies<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Build<br />Execute<br />Search<br />Yet our curriculums assume they are – we teach that the knowledge is interchangeable<br />
  • 89. Entrepreneurship as a Management Science<br />E-School instead of B-School<br />
  • 90. Business as a Management Science<br /><ul><li> 1601 East India Company
  • 91. 300 years of companies without MBA credentials
  • 92. 1908 Harvard first MBA</li></li></ul><li>Business School Topics<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br /><ul><li>Execution
  • 93. Strategy
  • 94. Accounting
  • 95. Products
  • 96. Engineering
  • 97. Management
  • 98. Administration</li></li></ul><li>Business School Courses<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Courses<br /><ul><li>Managerial Finance/Accounting
  • 99. Managing Groups and Teams
  • 100. Financial Accounting
  • 101. Operations
  • 102. Modeling for Optimization
  • 103. Global Value Chain Strategies</li></li></ul><li>B-School Results?<br /><ul><li>U.S. corporations went from local to national then international
  • 104. Cadre of experienced managers to match
  • 105. Experts on finance and growth (Dupont/GM)</li></ul>B-Schools made the 20th Century the American business century<br />
  • 106. Business School Focus on Large Company StrategiesExecution versus Search<br />
  • 107. Business School Limitations<br /><ul><li>Most Professors consult for large corporations
  • 108. Most believe startups are just smaller versions of large companies
  • 109. Most B-school entrepreneurship programs are side-shows</li></li></ul><li>Irony:21st Century Job Growth will Come from New Ventures<br />
  • 110. Incubators a Reaction to the lack of Practical University Entrepreneurship<br /><ul><li> 1959 Josephy Mancuso - Batavia Industrial Ctr.
  • 111. 1996 IdeaLab
  • 112. 2005 Y-Combinator
  • 113. 2011 100+ Incubators world-wide</li></li></ul><li>Startup Incubators <br /><ul><li>Hands-on (experience vs. theory)
  • 114. Goal: create a company and jobs
  • 115. Full-time residential, stipend-based program
  • 116. Curriculum: product development + best practices</li></li></ul><li>What’s Missing?A Repeatable Methodology Not Just War Stories<br />
  • 117. Startups Are Not Smaller Versions of Large Companies<br />Large Companies Execute Known Business Models<br />
  • 118. Startups Are Not Smaller Versions of Large Companies<br />Startups Search for Unknown Business Models<br />
  • 119. E-School <br /><ul><li>Complete curriculum with Hands-on emphasis
  • 120. Goal: methodology for startup creation
  • 121. Can be taught anywhere
  • 122. University
  • 123. Incubator
  • 124. Remotely
  • 125. Curriculum: about the search for a business model</li></li></ul><li>The Business Model:<br />Any company can be described in 9 building blocks<br />
  • 126. CUSTOMER SEGMENTS<br />which customers and users are you serving? <br />which jobs do they really want to get done?<br />
  • 127. VALUE PROPOSITIONS<br />what are you offering them? what is that <br />getting done for them? do they care?<br />
  • 128. CHANNELS<br />how does each customer segment want to be reached? through which interaction points?<br />
  • 129. CUSTOMER RELATIONSHIPS<br />what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?<br />
  • 130. REVENUE STREAMS<br />what are customers really willing to pay for? how? <br />are you generating transactional or recurring revenues?<br />
  • 131. KEY RESOURCES<br />which resources underpin your business model? which assets are essential?<br />
  • 132. KEY ACTIVITIES<br />which activities do you need to perform well in your business model? what is crucial?<br />57<br />
  • 133. KEY PARTNERS<br />which partners and suppliers leverage your model? <br />who do you need to rely on?<br />
  • 134. COST STRUCTURE<br />what is the resulting cost structure? <br />which key elements drive your costs?<br />
  • 135. value proposition<br />customer relationships<br />key activities<br />customer segments<br />key partners<br />cost structure<br />revenue streams<br />key <br />resources<br />channels<br />60<br />images by JAM<br />
  • 136. sketch out your business model<br />
  • 137. sketch out your business models<br />
  • 138. But,Realize They’re Hypotheses<br />
  • 139. 9 Guesses<br />Guess<br />Guess<br />Guess<br />Guess<br />Guess<br />Guess<br />Guess<br />Guess<br />Guess<br />
  • 140. Customer Development<br />The founders<br />^<br />Get Out of the Building<br />
  • 141. Customer DevelopmentThe Search For the Business Model<br />Company<br />Building<br />CustomerDiscovery<br />CustomerValidation<br />Customer Creation<br />Pivot<br />
  • 142. Customer Discovery<br />CustomerDiscovery<br />CustomerValidation<br />Company<br />Building<br />CustomerCreation<br />Stop selling, start listening<br />Test your hypotheses<br />Continuous Discovery<br />Done by founders<br />
  • 143. Test Hypotheses:<br /><ul><li>Product
  • 144. Market Type
  • 145. Competition</li></ul>Turning Hypotheses to Facts<br />
  • 146. Test Hypotheses:<br /><ul><li>Problem
  • 147. Customer
  • 148. User
  • 149. Payer</li></li></ul><li>Test Hypotheses:<br /><ul><li>Channel</li></li></ul><li>Test Hypotheses:<br /><ul><li>Demand Creation</li></ul>Test Hypotheses:<br /><ul><li>Problem
  • 150. Customer
  • 151. User
  • 152. Payer</li></ul>Test Hypotheses:<br /><ul><li>Product
  • 153. Market Type
  • 154. Competitive</li></ul>Test Hypotheses:<br /><ul><li>Channel
  • 155. (Customer)
  • 156. (Problem)</li></ul>Test Hypotheses:<br /><ul><li>Channel</li></ul>Test Hypotheses:<br /><ul><li>Size of Opportunity/Market
  • 157. Validate Business Model</li></ul>Test Hypotheses:<br /><ul><li>Pricing Model / Pricing</li></li></ul><li>Test Hypotheses:<br /><ul><li>Demand Creation</li></ul>Test Hypotheses:<br /><ul><li>Problem
  • 158. Customer
  • 159. User
  • 160. Payer</li></ul>Agile Development<br />Test Hypotheses:<br /><ul><li>Product
  • 161. Market Type
  • 162. Competitive</li></ul>Test Hypotheses:<br /><ul><li>Channel
  • 163. (Customer)
  • 164. (Problem)</li></ul>Customer Development Team<br />Test Hypotheses:<br /><ul><li>Channel</li></ul>Test Hypotheses:<br /><ul><li>Size of Opportunity/Market
  • 165. Validate Business Model</li></ul>Test Hypotheses:<br /><ul><li>Pricing Model / Pricing</li></li></ul><li>The Minimum Viable Product (MVP)<br /><ul><li> Smallest feature set that gets you the most …</li></ul> - orders, learning, feedback, failure…<br />
  • 166. The Pivot<br /><ul><li>The heart of Customer Development
  • 167. Iteration without crisis
  • 168. Fast, agile and opportunistic</li></li></ul><li>Pivot Cycle Time Matters<br /><ul><li>Speed of cycle minimizes cash needs
  • 169. Minimum feature set speeds up cycle time
  • 170. Near instantaneous customer feedback drives feature set</li></li></ul><li>The Pivot<br />A Pivot is the change of one or more Business Model Canvas Components <br />
  • 171. The Pivot<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />A Pivot is the change of one or more Business Model Canvas Components <br />Leading doctors<br />Key Opinion Leaders<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Capital Equipment Sales and disposable item<br />Per use fees<br />
  • 172. How Does This Really Work?Stanford Lean LaunchPad Class<br />
  • 173. How Does This Really Work?Stanford Lean LaunchPad Class<br />8 Weeks From an Idea to a Business<br />
  • 174. Pivot ExampleRobotic Weeding<br />Talked 75 Customers in 8 Weeks<br />
  • 175. Our initial plan<br />Confidential<br />
  • 176. 20 interviews, 6 site visits…We got OUR Boots dirty<br />Weeding<br />Visited two farms in Salinas Valley to better understand problem<br />Interviewed:<br /><ul><li>Bolthouse Farms, Large Agri-Industry in Bakersfield
  • 177. White Farms, Large Peanut farmer in Georgia
  • 178. REFCO Farms, large grower in Salinas Valley
  • 179. Rincon Farms, large grower in Salinas Valley
  • 180. Small Organic Corn/Soy grower in Nebraska
  • 181. Heirloom Organics, small owner/operator, Santa Cruz Mts
  • 182. Two small organic farmers at farmers market
  • 183. Ag Services of Salinas, Fertilizer applicator</li></ul>Mowing<br />Interviewed:<br /><ul><li>Golf: Stanford Golf course
  • 184. Parks: Stanford Grounds Supervisor, head of maintenance and lead operator (has crew of 6)
  • 185. Toro dealer (large mower manufacturer)
  • 186. User of back-yard mowing system
  • 187. Maintenance Services for City of Los Altos
  • 188. Colony Landscaping (Mowing service for stadiums)</li></li></ul><li>Business Plan Autonomous Vehicles for Mowing &amp; Weeding<br />Dealers sell, installs and supports customer<br />Co. trains dealers, supports dealers<br />- Innovation<br />- Customer Education<br />- Dealer training<br />Mowing<br />- Owners of public or commercially used green spaces (e.g. golf courses)<br />- Landscaping service provider<br />Weeding<br />- Farmers with manual weeding operations<br />We reduce operating cost<br />- Labor reduction<br />- Better utilization of assets (eg mow or weed at nights)<br />- Improved performance (less rework, food safety)<br />- Dealers (Mowing and Ag)<br />- Vehicle OEMs (John Deere, Toro, Jacobsen, etc)<br />- Research labs<br />- Mowing Dealers<br />- Ag Dealers<br />Engineers on Autonomous vehicles, GPS, path-planning<br />Asset sale<br />Our revenue stream derives from selling the equipment<br />Dealer discount <br />COGS seek a 50-60% Gross Margin<br />Heavy R&amp;D investment <br />
  • 189. Found weeding in organic crops is HUGE problem; 50 - 75% of costs<br />Crews of 100s-1000<br />Back-breaking task<br />(Ilegal) labor harder to get <br />1-5 weedings per year/field<br />$250-3,500 per acre and increasing<br />Food contamination risk<br />
  • 190. Decision to make – mowing vs weeding<br />
  • 191. Autonomous vehiclesWEEDING<br />Dealers sell, installs and supports customer<br />Co. trains dealers, supports dealers<br />- Innovation<br />- Customer Education<br />- Dealer training<br />- Low density vegetable growers<br />- High density vegetable growers<br />- Thinning operations<br />- Conventional vegetables<br />We reduce operating cost<br />- Labor reduction (100 to 1)<br />- Reduced risk of contamination<br />- Mitigate labor availability concerns<br />- Ag Dealers<br />- Ag Service providers<br />- Research labs<br />- Ag Dealers<br />- Ag Service providers<br />Engineers on Machine Vision<br />Two problems:<br />- Identification<br />- Elimination<br />Asset sale<br />Our revenue stream derives from selling the equipment<br />Dealer discount <br />COGS seek a 50-60% Gross Margin<br />Heavy R&amp;D investment <br />
  • 192. 1 Week – 1 CarrotBot<br />Confidential<br />
  • 193. CarrotBot<br />Machine Vision data collection platform<br />Monochrome &amp; Color Cameras<br />Laser-line sweep (depth measurement)<br />Encoders (position/velocity)<br />Onboard data acquisition &amp; power<br />CarrotBot 1.0<br />
  • 194. The Business Plan Canvas Updated<br /><ul><li>Farming conventions.
  • 195. Demo, demo, and demo!!
  • 196. Proximity is paramount
  • 197. Technology Design
  • 198. Marketing
  • 199. Demo and customer feedback
  • 200. Organic Farmers
  • 201. Weeding Service Providers
  • 202. Conventional Farmers
  • 203. Cost Reduction
  • 204. Remove labor force pains
  • 205. Eliminate bio-waste hazards
  • 206. Research Labs
  • 207. Equipment Manufacturers
  • 208. Distribution Network
  • 209. Service Providers
  • 210. IP – Patents
  • 211. Video Classifier Files
  • 212. Robust Technology
  • 213. Dealers
  • 214. Direct Service
  • 215. Indirect Service
  • 216. … then Dealers
  • 217. Asset Sale
  • 218. Direct Service with equipment rental
  • 219. … then Asset Sale</li></ul>Value-Driven<br />
  • 220. Visit Highlights<br />Above: Organic Carrots, 7wks. <br />Top right: Conventional carrots<br />Bottom Right: Very weedy. Will require multiple passes of hand weeding<br />
  • 221. Visit Highlights<br />Carrot vs. Weeds<br />Due to small root systems, carrots have no chance against weeds <br />
  • 222. Visit Highlights<br />Organic Broccoli, closely cultivated. Weeds close to plants are hand-picked<br />
  • 223. Visit Highlights<br />State of the Art in Weeding Technology for Organic Crops<br />
  • 224. Customer Hypothesis<br />Pre-Test<br />Hypothesis Confirmed<br /><ul><li> Growers interested in own equipment
  • 225. Industrial (10,000s of acres)
  • 226. Large (1,000s of acres)
  • 227. Willing to pay $100k for one unit
  • 228. Smaller growers (100s of acres) usually subcontract the labor services or rent equipment
  • 229. All purchases through local dealers
  • 230. Customer service is essential</li></ul>Post-Test<br />
  • 231. Customer Map #1 – Industrial Growers<br />Example: Bolthouse Farms – Large Industrial Carrot Producer – 8K acres/yr<br /><ul><li> Equipment Operator
  • 232. Local Farm Mgr
  • 233. Cliff Kirkpatrick, visited
  • 234. Director, Ag Technology
  • 235. Justin Grove, interviewed</li></ul>Equipment Operator<br /><ul><li> VP, Growing Operations
  • 236. CFO, CEO (Jeff Dunn)</li></ul>Cliff, Farm Mgr<br />
  • 237. Customer Map #2 – Service Providers<br />Example: Ag Services – Service Provider, Salinas Valley<br /><ul><li> Equipment Operator
  • 238. Grower
  • 239. Service Mgr</li></ul>Me (left), Marty (middle, Service Mgr), Doug (right, Grower)<br /><ul><li> ?? (service mgr’s boss)</li></li></ul><li>The Business Plan Canvas Updated<br /><ul><li>Farming conventions.
  • 240. Demo, demo, and demo!!
  • 241. Proximity is paramount
  • 242. Technology Design
  • 243. Marketing
  • 244. Demo and customer feedback
  • 245. Mid/Large Organic Farmers
  • 246. Agricultural corporations
  • 247. Weeding Service Providers
  • 248. Mid/Large Conventional Farmers
  • 249. Cost Reduction
  • 250. Remove labor force pains
  • 251. Eliminate bio-waste hazards
  • 252. Research Labs
  • 253. Equipment Manufacturers
  • 254. Distribution Network
  • 255. Service Providers
  • 256. IP – Patents
  • 257. Video Classifier Files
  • 258. Robust Technology
  • 259. Direct Service
  • 260. Indirect Service
  • 261. … then Dealers
  • 262. Direct Service with equipment rental
  • 263. ($1,500/d; 120d/yr )
  • 264. Low density: $1,500/d
  • 265. High density: $6,000/d</li></ul>Value-Driven<br />
  • 266. World Ag Expo interviews:the need is real and wide spread<br />10+ interviews at show<br />Everyone confirmed the need<br />Robocrop, UK based, crude competitor sells for $171 K<br />Revenue Stream<br />Mid to small growers prefer a service<br />Large growers prefer to buy, but OK with service until technology is proven<br />Charging for labor cost saved is OK, as we provide other benefits (food safety, labor availability)<br />Confidential<br />
  • 267. The Business Plan Canvas Updated<br /><ul><li>Farming conventions.
  • 268. Demo, demo, and demo!!
  • 269. Proximity is paramount
  • 270. Technology Design
  • 271. Marketing
  • 272. Demo and customer feedback
  • 273. Mid/Large Organic Farmers
  • 274. Agricultural corporations
  • 275. Weeding Service Providers
  • 276. Mid/Large Conventional Farmers
  • 277. Research Labs
  • 278. Equipment Manufacturer
  • 279. Distribution Network
  • 280. Service Providers
  • 281. 2 or 3 Key Farms
  • 282. Cost Reduction
  • 283. Remove labor force pains
  • 284. Eliminate bio-waste hazards
  • 285. IP – Patents
  • 286. Video Classifier Files
  • 287. Robust Technology
  • 288. Direct Service
  • 289. Indirect Service
  • 290. … then Dealers
  • 291. Direct Service with equipment rental
  • 292. Low density: $1,500/d
  • 293. High density: $6,000/d</li></ul>Value-Driven<br /><ul><li> R&amp;D
  • 294. Bill of Materials
  • 295. Training &amp; Service
  • 296. Sales</li></li></ul><li>Autonomous weeding - Final<br />Direct<br />- Provide high quality service at competitive price<br />- Innovation<br />- Customer Education<br />- Dealer training<br />- Low density vegetable growers<br />- High density vegetable growers<br />- Thinning operations<br />- Conventional vegetables<br />We reduce operating cost<br />- Labor reduction (100 to 1)<br />- Reduced risk of contamination<br />- Mitigate labor availability concerns<br />- Ag Service providers<br />- Research Institutes (eg UC Davis, Laser Zentrum Hannover)<br />- 3-4 key farms<br />Direct <br />- Alliance with service providers<br />- Eventually sell through dealers<br />Engineers on Machine Vision<br />Two problems:<br />- Identification<br />- Elimination<br />Service provision<br />- Charge by the acre with modifier according to weed density <br />- Eventually move to asset sale<br />Costs for service provision<br />COGS seek a 50-60% Gross Margin<br />Heavy R&amp;D investment <br />
  • 297. MammOptics<br />Final project presentation for E 245 Winter 2011<br />
  • 298. MammOptics<br />Initial Idea<br />Breast cancer<br />Mammography<br />Leading cause of cancer in women<br />190,000 diagnosis every year US<br />41,000 deaths every year US<br />Increasing diagnosis rates<br />15%-25% false negatives rate<br />25% false positives rate<br />Requires X-ray radiation<br />Low resolution<br />MammOptics<br />Novel technology based on RF-modulated optical spectroscopy<br /><ul><li> Earlier detection
  • 299. Non-radiative
  • 300. Non-invasive</li></li></ul><li>MammOptics<br />Technology Comparison<br />I.I.T.Y.I.W.H.T.K.Y<br />
  • 301. MammOptics<br />Business Model Canvas 1 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Hospitals<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Pioneering radiologists in<br />hospitals<br />Radiation-free<br />Earlier detection<br />Non-invasive<br />IP <br />Leading doctors<br />Technical Expertise<br />Direct sales to hospitals<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital equipment sales and disposable item<br />
  • 302. MammOptics<br />MammOptics<br />Business Model Canvas 1 of 4<br />Business Model Canvas 1 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Initial guess<br />Initial guess<br />Hospitals<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Pioneering radiologists in<br />hospitals<br />Radiation-free<br />Earlier detection<br />Non-invasive<br />Test:<br /> Customer segment<br /> Value proposition<br />Initial guess<br />IP <br />Leading doctors<br />Technical Expertise<br />Direct sales to hospitals<br />Product Development<br />Clinical trials<br />Operating Costs<br />Initial guess<br />Capital equipment sales and disposable item<br />
  • 303. Finding the right customer<br />From radiologists to gynecologists<br />
  • 304. MammOptics<br />Excursions into hospitals<br />Debra Ikeda<br />Jason Davies<br />Jafi Alissa Lipson<br />Sunita Pal<br />Leading doctors<br />6 women &gt;40 <br />8 women &lt;40<br />Patients<br />Alicia X-ray mammography<br />Technicians<br />Hospital Managers<br />Paul Billings<br />Holly V. Gautier<br />
  • 305. MammOptics<br />Hospital purchasing decision tree<br />
  • 306. MammOptics<br />Hospital purchasing decision tree<br />Hospitals<br />Complex purchasing decision tree. Several saboteours<br />
  • 307. MammOptics<br />Private practice purchasing decision tree<br />
  • 308. MammOptics<br />Private practice purchasing decision tree<br />Private practice<br />Faster adoption rate<br />Attractive value proposition<br />✔<br />
  • 309. MammOptics<br />Business Model Canvas 2 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Hospitals (Capital Spending Committee)<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Research Hospitals<br />Pioneering Doctors<br />Hospitals<br />OB/GYNs<br />PCPs<br />Direct Sales to doctors<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 310. MammOptics<br />Business Model Canvas 2 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Hospitals (Capital Spending Committee)<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Research Hospitals<br />Pioneering Doctors<br />Hospitals<br />OB/GYNs<br />PCPs<br />How do we get to our customer?<br />Need sensitivity and specificity<br />Direct Sales to doctors<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 311. Getting to our customer<br />The world of direct sales and medical marketing<br />
  • 312. MammOptics<br />Interviews<br />Breast Cancer Advocacy Groups<br />Be Bright Pink<br />Jennifer Glover<br />Dr. Cindy Woo<br />Dr. Jags Powers<br />Dr. Aaron Shuvkan<br />OB/GYNs<br />Katrina Bell<br />Tanay Dudhela<br />Jed Hwang<br />Medical Sales<br />FDA/Clinical Trials<br />Phyllis Whitely<br />Carl Simpson<br />
  • 313. MammOptics<br />Marketing<br />
  • 314. MammOptics<br />Marketing<br />Strong influence on doctors via ACOG Standard of Care<br />Strongly influenced by KOLs<br />Access to ACOG by former member<br />
  • 315. MammOptics<br />Marketing<br />Researchers with strong peer recommendations<br />Researchers conducting important clinical trials<br />Outsourced survey research<br />Researchers with numerous publications<br />
  • 316. MammOptics<br />Marketing<br />Focus on prominent journals <br />Need two big publications<br />Choose KOL as Principal Investigators (PI)<br />
  • 317. MammOptics<br />Marketing<br />Effective method for educating doctors<br />Workshop must be approved by ACOG<br />Doctors required to attend workshops<br />Taught by objective medical experts<br />
  • 318. MammOptics<br />Marketing<br />ACOG Annual Clinical Meeting <br />Opportunity for feedback from doctors<br />Miami Breast Cancer Conference <br />
  • 319. MammOptics<br />Marketing<br />Trusted information source for patients<br />Access to media outlets<br />Critical opinion leader for technology adoption<br />
  • 320. MammOptics<br />Channel Strategies and Costs<br />Individual<br />Doctors<br />High value medical products<br />(e.g. cardiovascular stents)<br />Direct Sales<br /><ul><li>Doctor education
  • 321. Direct feedback from doctors
  • 322. Very expensive</li></ul>Individual Doctors<br />Purchasing Administrators<br />Purchasing Administrators<br />Commodity medical products<br />(e.g. latex gloves)<br />Distributors<br /><ul><li>No doctor education
  • 323. No customer feedback
  • 324. Inexpensive</li></li></ul><li>MammOptics<br />Channel Strategies and Costs<br />Sales strategy 1<br />Sales strategy 2<br />5 dedicated sales people<br />$150,000 each/year<br />Hire nurses or technicians<br />with established<br />relationships<br />Early adopter feedback<br />Continue with core group of sales people<br />Use women’s healthcare equipment distributor<br />Already established network of customers<br />
  • 325. MammOptics<br />Pricing Strategy<br />Equipment <br />Lease model<br />Per-use model<br />Consumable<br />Cost of the device<br />$50,000<br />$5,000<br />$5,000<br />$25,000<br />Service per year<br />$3,000<br />$10,000<br />0<br />0<br />Per-use fee<br />0<br />0<br />$50<br />0<br />Consumable<br />0<br />0<br />0<br />$20<br />
  • 326. MammOptics<br />Pricing Strategy<br />Approved by customers and investors<br />Equipment <br />Lease model<br />Per-use model<br />Consumable<br />Cost of the device<br />$50,000<br />$5,000<br />$5,000<br />$25,000<br />Service per year<br />$3,000<br />$10,000<br />0<br />0<br />Per-use fee<br />0<br />0<br />$50<br />0<br />Consumable<br />0<br />0<br />0<br />$20<br />
  • 327. MammOptics<br />Customer Workflow<br />Current market<br />Insurance<br />Mammography<br />Radiologist<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 328. MammOptics<br />Customer Workflow<br />Current market<br />But what would happen if we replace mammography?<br />Insurance<br />Mammography<br />Radiologist<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 329. MammOptics<br />Customer Workflow<br />Insurance<br />Mammography<br />Radiologist<br />Breast Radiologists<br />Hospitals<br />Technicians<br />Loss of jobs<br />Eliminates loss leader<br />Puts emphasis on biopsies<br />Loss of jobs<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 330. MammOptics<br />Customer Workflow<br />Insurance<br />Mammography<br />Radiologist<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 331. MammOptics<br />Customer Workflow<br />Insurance<br />Mammography<br />Radiologist<br />Insurance<br />ACOG/ACS<br />Same cost as mammography ($140)<br />Reduced number of biopsies ($1000)<br />Improved healthcare<br />(mammography weak technique)<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 332. MammOptics<br />Customer Workflow<br />Insurance<br />Mammography<br />Radiologist<br />Hospital Administration<br />Technician<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 333. MammOptics<br />Customer Workflow<br />Insurance<br />PCP<br />OB/GYN<br />Mammography<br />Patient<br />Radiologist<br />Hospital Administration<br />Technician<br />MammOptics<br />Doctor specialty committee <br />ACOG<br />ACS<br />
  • 334. MammOptics<br />Customer Workflow<br />Insurance<br />PCP<br />OB/GYN<br />PCP<br />OB/GYN<br />Mammography<br />Mammography<br />Patient<br />Patient<br />Radiologist<br />Radiologist<br />PCP OB/GYNs<br />Patient<br />MammOptics<br />Increased revenue<br />More complete patient care<br />Improved healthcare<br />Comfort<br />Revenue<br />Hospital Administration<br />Technician<br />Hospital Administration<br />Technician<br />MammOptics<br />MammOptics<br />Doctor specialty committee <br />ACOG<br />ACS<br />
  • 335. MammOptics<br />Customer Workflow<br />Insurance<br />PCP<br />OB/GYN<br />Mammography<br />Patient<br />Radiologist<br />Hospital Administration<br />Technician<br />MammOptics<br />ACOG<br />ACS<br />Doctor specialty committee <br />
  • 336. MammOptics<br />Business Model Canvas 3 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Leading doctors<br />Key Opinion Leaders<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Capital Equipment Sales and disposable item<br />Per use fees<br />
  • 337. MammOptics<br />Business Model Canvas 3 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />ReimbursementPublishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Leading doctors<br />Key Opinion Leaders<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />OB/GYNs<br />PCPs<br />Learned how to reach the customer<br />How do we build a company based on this?<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Capital Equipment Sales and disposable item<br />Per use fees<br />
  • 338. Building the company<br />The backstage of a medical device company<br />
  • 339. MammOptics<br />Interviews<br />Stanford StatisticsSteve Axelrod<br />Marga Ortigas-Wedekind<br />FDA Clinical Trials<br />Nick Mourlas<br />Don Archambault<br />Manufacturing<br />Shannon Bergstedt<br />Ali Habib<br />Reimbursement<br />Venture Capitalists<br />Dana Mead<br />Bill Starling<br />Doctors/Sales<br />Dr. Aron Shuftan<br />Jed Hwang<br />Michael J. Nohr<br />
  • 340. MammOptics<br />Partners<br />Manufacturing<br />Choose manufacturing facility close to home<br />
  • 341. MammOptics<br />MammOptics<br />Partners<br />Partners<br />Manufacturing<br />Reimbursement<br />Manufacturing<br />Difficult to get coverage for new product. <br />
  • 342. MammOptics<br />Reimbursement Partners<br />Insurances<br />CPT Codes<br />$75-$150<br />
  • 343. MammOptics<br />Partners<br />Manufacturing<br />Reimbursement<br />510K vs. PMA<br />Largest cost<br />Biggest financial risk<br />FDA Clinical Trials<br />
  • 344. MammOptics<br />Clinical Trials<br />Stage 1<br />Pilot trials<br />Feasibility<br />Comparison with mammography<br />50 patients<br />$600K<br />6 months<br />12/4/2009<br />
  • 345. MammOptics<br />Clinical Trials<br />Stage 2<br />Interim trials<br />Prove superior safety-efficacy &amp; sensitivity<br />Stage 1<br />Pilot trials<br />500 patients<br />$7.2M<br />6 months<br />15 months<br />12/4/2009<br />
  • 346. MammOptics<br />Clinical Trials<br />Stage 2<br />Interim trials<br />Stage 3<br />FDA pivotal trials<br />Stage 1<br />Pilot trials<br />FDA class II, 510(K) w/ trials<br />Focus on superiority &amp; economic end-points<br />1500 patients<br />$20.5M<br />6 months<br />15 months<br />24 months<br />12/4/2009<br />
  • 347. MammOptics<br />Clinical Trials<br />Stage 4<br />Post-market studies<br />Stage 2<br />Interim trials<br />2000 patients<br />$26.8M<br />Stage 3<br />FDA pivotal trials<br />Stage 1<br />Pilot trials<br />Specific Cat III CPT/ACP Codes<br />Market traction<br />6 months<br />15 months<br />24 months<br />24 months<br />12/4/2009<br />
  • 348. MammOptics<br />Clinical Trials<br />Stage 4<br />Post-market studies<br />Stage 2<br />Interim trials<br />$26.8M<br />Stage 3<br />FDA pivotal trials<br />Stage 1<br />Pilot trials<br />$7.2M<br />$600K<br />$20.5M<br />6 months<br />15 months<br />24 months<br />24 months<br />12/4/2009<br />
  • 349. MammOptics<br />Clinical Trials<br />12/4/2009<br />
  • 350. MammOptics<br />MammOptics<br />Partners<br />Partners<br />Manufacturing<br />Reimbursement<br />Financial timeline <br />Funding<br />FDA Clinical Trials<br />
  • 351. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />M&amp;A / IPO $50 MM<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />Series D $35 MM<br />$40M<br />Series C $30.5 MM<br />$30M<br />$20M<br />Cash Reserve<br />Series B $9 MM<br />$15M<br />Series A $3.5 MM<br />$10M<br />$5M<br />Financial timeline <br />System<br />Initialize<br />Launch <br />Regulatory / Clinical<br />Marketable Product<br />Proof of Concept<br />Second Release<br />Beta Prototype<br />Design Milestones<br />1st Release Test<br />2nd Release Test<br />Beta-Version Testing<br />Laboratory Prototype<br />Publication<br />Publication<br />Clinical Results<br />Post-Market Clinical Studies<br />Pilot Studies<br />US Pivotal Clinical Trials<br />Clinical Milestones<br />US Interim Trials<br />Non-Specific Codes <br />Provisional Patent<br />IRB / IDE<br />Specific Codes <br />(Cat. I CPT / APC)<br />Cat III CPT<br />FDA – Class II – 510 (k) with Clinical Trials<br />Regulatory/ IP Milestones<br />Application and System Patents<br />Initial Product Launch<br />IC and Processing Patents<br />Technology Licensing<br />151<br />12/4/2009<br />
  • 352. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />$40M<br />$30M<br />$20M<br />Cash Reserve<br />$15M<br />$10M<br />$5M<br />Initialize<br />Proof of Concept<br />Design Milestones<br />Clinical Milestones<br />Provisional Patent<br />Regulatory/ IP Milestones<br />Technology Licensing<br />152<br />12/4/2009<br />
  • 353. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />$40M<br />$30M<br />$20M<br />Cash Reserve<br />$15M<br />Series A $3.5 MM<br />$10M<br />$5M<br />System<br />Initialize<br />Proof of Concept<br />Beta Prototype<br />Design Milestones<br />Beta-Version Testing<br />Laboratory Prototype<br />Pilot Studies<br />Clinical Milestones<br />Provisional Patent<br />Regulatory/ IP Milestones<br />Technology Licensing<br />153<br />12/4/2009<br />
  • 354. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />$40M<br />$30M<br />$20M<br />Cash Reserve<br />Series B $9 MM<br />$15M<br />Series A $3.5 MM<br />$10M<br />$5M<br />System<br />Regulatory / Clinical<br />Marketable Product<br />Beta Prototype<br />Design Milestones<br />Beta-Version Testing<br />Laboratory Prototype<br />Pilot Studies<br />Clinical Milestones<br />IRB / IDE<br />Regulatory/ IP Milestones<br />Application and System Patents<br />IC and Processing Patents<br />154<br />12/4/2009<br />
  • 355. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />$40M<br />Series C $30.5 MM<br />$30M<br />$20M<br />Cash Reserve<br />Series B $9 MM<br />$15M<br />$10M<br />$5M<br />System<br />Regulatory / Clinical<br />Second Release<br />Design Milestones<br />1st Release Test<br />Publication<br />Pilot Studies<br />US Pivotal Clinical Trials<br />Clinical Milestones<br />US Interim Trials<br />IRB / IDE<br />Cat III CPT<br />Regulatory/ IP Milestones<br />Application and System Patents<br />IC and Processing Patents<br />155<br />
  • 356. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />Series D $35 MM<br />$40M<br />Series C $30.5 MM<br />$30M<br />$20M<br />Cash Reserve<br />$15M<br />$10M<br />$5M<br />Launch <br />Regulatory / Clinical<br />Second Release<br />Design Milestones<br />2nd Release Test<br />Publication<br />Publication<br />Clinical Results<br />US Pivotal Clinical Trials<br />Clinical Milestones<br />US Interim Trials<br />Non-Specific Codes <br />FDA – Class II – 510 (k) with Clinical Trials<br />Regulatory/ IP Milestones<br />Initial Product Launch<br />156<br />12/4/2009<br />
  • 357. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />M&amp;A / IPO $50 MM<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />Series D $35 MM<br />$40M<br />$30M<br />$20M<br />Cash Reserve<br />$15M<br />$10M<br />$5M<br />Launch <br />Regulatory / Clinical<br />Design Milestones<br />Publication<br />Post-Market Clinical Studies<br />Clinical Results<br />Clinical Milestones<br />Non-Specific Codes <br />Specific Codes <br />(Cat. I CPT / APC)<br />FDA – Class II – 510 (k) with Clinical Trials<br />Regulatory/ IP Milestones<br />Initial Product Launch<br />12/4/2009<br />
  • 358. MammOptics<br />MammOptics<br />Financial / Operations Timeline<br />2016<br />2012<br />2013<br />2014<br />2015<br />2017<br />2018<br />M&amp;A / IPO $50 MM<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q3<br />Q4<br />Q1<br />Q2<br />Q1<br />Q2<br />Q3<br />Q4<br />Q3<br />Series D $35 MM<br />$40M<br />Series C $30.5 MM<br />$30M<br />$20M<br />Cash Reserve<br />Series B $9 MM<br />$15M<br />Series A $3.5 MM<br />$10M<br />$5M<br />System<br />Initialize<br />Launch <br />Regulatory / Clinical<br />Marketable Product<br />Proof of Concept<br />Second Release<br />Beta Prototype<br />Design Milestones<br />1st Release Test<br />Beta-Version Testing<br />2nd Release Test<br />Laboratory Prototype<br />Publication<br />Publication<br />Post-Market Clinical Studies<br />Clinical Results<br />Pilot Studies<br />US Pivotal Clinical Trials<br />Clinical Milestones<br />US Interim Trials<br />Non-Specific Codes <br />Provisional Patent<br />IRB / IDE<br />Specific Codes <br />(Cat. I CPT / APC)<br />Cat III CPT<br />FDA – Class II – 510 (k) with Clinical Trials<br />Regulatory/ IP Milestones<br />Application and System Patents<br />Initial Product Launch<br />IC and Processing Patents<br />Technology Licensing<br />158<br />12/4/2009<br />
  • 359. MammOptics<br />Business Model Canvas 4 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />KOLs<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />Clinical trial designer<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />Online<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Per use fees<br />
  • 360. MammOptics<br />Business Model Canvas 4 of 4<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />KOLs<br />3rd party manufacturers<br />Breast Cancer Foundations<br />ACOGACS<br />Clinical trial designer<br />Earlier detection<br />Non invasive<br />Price<br />Accuracy<br />Immediate Results<br />OB/GYNs<br />PCPs<br />Final iteration of our business model<br />But… need to think about the big picture…<br />Direct Sales to hospitals<br />Distributor<br />Online<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Per use fees<br />
  • 361. MammOptics<br />Business Model Canvas 1<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Hospitals<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Radiation-free<br />Earlier detection<br />Non invasive<br />Pioneering Doctors<br />Hospitals<br />Direct Sales to hospitals<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 362. MammOptics<br />Business Model Canvas 2<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Hospitals<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Research Hospitals<br />Radiation-free<br />Earlier detection<br />Non invasive<br />Pioneering Doctors<br />Hospitals<br />Direct Sales to hospitals<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 363. MammOptics<br />Business Model Canvas 3<br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Hospitals (Capital Spending Committee)<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Research Hospitals<br />Pioneering Doctors<br />Hospitals<br />Direct Sales to hospitals<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 364. MammOptics<br />Business Model Canvas 4 <br />Strong clinical data<br />Training<br />Maintenance<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Hospitals (Capital Spending Committee)<br />Leading doctors<br />3rd party manufacturers<br />Distributors<br />Research Hospitals<br />Breast Cancer Foundations<br />Pioneering Doctors<br />Hospitals<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Capital Equipment Sales and disposable item<br />
  • 365. MammOptics<br />Business Model Canvas 5<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />ReimbursementPublishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Patients:<br />Radiation Free<br />Non-Invasive<br />Leading doctors<br />Key Opinion Leaders<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Capital Equipment Sales and disposable item<br />
  • 366. MammOptics<br />Business Model Canvas 6<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />KOLs<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Capital Equipment Sales and disposable item<br />Per use fees<br />
  • 367. MammOptics<br />Business Model Canvas 7<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />KOLs<br />3rd party manufacturers<br />Distributors<br />Breast Cancer Foundations<br />ACOGACS<br />Clinical trial designer<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Per use fees<br />
  • 368. MammOptics<br />Business Model Canvas 8<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />KOLs<br />3rd party manufacturers<br />(local)<br />Breast Cancer Foundations<br />ACOGACS<br />Clinical trial designer<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Per use fees<br />
  • 369. MammOptics<br />Business Model Canvas 9<br />Strong clinical data<br />Training<br />Maintenance<br />Conferences<br />CME courses<br />Product Development<br />IP<br />Clinical trials<br />FDA<br />Reimbursement Publishing<br />Doctors:<br />Earlier detection<br />Price<br />Accuracy<br />Immediate Results<br />Patients:<br />Radiation Free<br />Non-Invasive<br />KOLs<br />3rd party manufacturers<br />(local)<br />Breast Cancer Foundations<br />ACOGACS<br />Clinical trial designer<br />OB/GYNs<br />PCPs<br />Direct Sales to hospitals<br />Distributor<br />IP <br />Leading doctors<br />Technical Expertise<br />Product Development<br />Clinical trials<br />Operating Costs<br />Marketing Costs<br />Per use fees<br />
  • 370. Blog Your Progress<br />
  • 371. How?<br />Customer Development<br />The Process<br />Narrative<br />Interviews<br />Surveys<br />Videos<br />Prototypes<br />Business Model Canvas<br />Scorekeeping<br />Real-time Feedback<br />Physical Reality Checks<br />Skype<br />Face-to-face<br />
  • 372. We Made Students Blog Their Progress<br />It Changed Everything<br />
  • 373. Interview<br />
  • 374. Photos<br />Videos<br />
  • 375. Surveys<br />
  • 376. Interview<br />&amp; Photos<br />
  • 377. Competitive Analysis<br />
  • 378. Key Findings<br />
  • 379. A/B Test Results<br />
  • 380. Key Question<br />
  • 381. Strategy<br />
  • 382. Business Model Canvas as the Scorecard<br />
  • 383. Business School Versus Entrepreneurship School<br />Entrepreneurship School<br />Business School<br />Scalable<br />Startup<br />Transition<br />Large Company<br /><ul><li>Hypothesis testing
  • 384. Business Model design
  • 385. Customer Development
  • 386. Agile Development
  • 387. Metrics
  • 388. Venture Finance
  • 389. Design Thinking
  • 390. Execution
  • 391. Accounting
  • 392. Products
  • 393. Engineering
  • 394. Management
  • 395. Administrative</li></li></ul><li>Business School Versus Entrepreneurship Courses<br />Business School<br />Entrepreneurship School<br />Scalable<br />Startup<br />Transition<br />Large Company<br />Courses<br /><ul><li> Lean Launchpad
  • 396. Customer/Agile Development
  • 397. Business Model Design
  • 398. Entrepreneurial Management
  • 399. Creativity and Innovation
  • 400. Entrepreneurial Finance
  • 401. User-centric design</li></ul>Courses<br /><ul><li> Managerial Finance/Accounting
  • 402. Managing Groups and Teams
  • 403. Financial Accounting
  • 404. Operations
  • 405. Modeling for Optimization
  • 406. Global Value Chain Strategies</li></li></ul><li>Business School Versus Entrepreneurship Courses<br />Business School<br />Entrepreneurship School<br />Scalable<br />Startup<br />Transition<br />Large Company<br />I teach this<br />Courses<br /><ul><li> Lean Launchpad
  • 407. Customer/Agile Development
  • 408. Business Model Design
  • 409. Entrepreneurial Management
  • 410. Creativity and Innovation
  • 411. Entrepreneurial Finance
  • 412. User-centric design</li></li></ul><li>E-School <br /><ul><li>20th century focus on physical goods
  • 413. East coast manufacturing-centric
  • 414. East coast B-School-centric
  • 415. 21st century focus on virtual and physical goods and channels
  • 416. West coast engineering school-centric</li></li></ul><li>One More Thing<br />
  • 417. Adopted by the U.S. Government<br />
  • 418. Thanks<br />www.steveblank.com<br />

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