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 Aalto demolish the status quo in entrepreneurial education 090511 Presentation Transcript

    • Demolishing the Status Quo in Entrepreneurial Education
    • I Write a Blog
      www.steveblank.com
    • This Talk is Based On
      Business Model Generation
      Four Steps to the Epiphany
      The Lean Startup
    • This Talk
      What’s a Startup?
      Search versus Execution
      Entrepreneurship As a Mgmt Science
      B-Schools = Large company mgmt
      Incubators = the transition
      E-School = the conclusion
    • First -What’s A Startup?
      Six Types of Startups
    • Startup
      Lifestyle Startups Work to Live their Passion
      • Serve known customer with known product
      • Pay for their passion
    • Small Business
      Startup
      Small Business StartupsWork to Feed the Family
      • Serve known customer with known product
      • Feed the family
    • Small Business
      Startup
      Exit Criteria
      • Business Model found
      - Profitable business
      • Existing team
      < €100K in revenue
      Small Business StartupsWork to Feed the Family
      • known customer known product
      • Feed the family
    • Small Business
      Startup
      - Business Model found
      - Profitable business
      • Existing team
      < $10M in revenue
      Small Business Startups
      • 5.7 million small businesses in the U.S. <500 employees
      • 99.7% of all companies
      • ~ 50% of total U.S. workers
      http://www.sba.gov/advo/stats/sbfaq.pdf
    • Scalable
      Startup
      Large Company
      Scalable Startup
      Search
      Goal is to solve for:
      unknown customer and unknown features
    • Execute
      Search
      Scalable
      Startup
      Large Company
      Exit Criteria
      • Business model found
      • Total Available Market > €300m
      • Can grow to €50/year
      Scalable StartupBorn to Be Big
    • Scalable
      Startup
      Large Company
      • Total Available Market > $500m
      • Company can grow to $100m/year
      • Business model found
      • Focused on execution and process
      • Typically requires “risk capital”
      Scalable Startup
      Execute
      Search
      • In contrast a scalable startup is designed to grow big
      • Typically needs risk capital
      • What Silicon Valley means when they say “Startup”
    • The Transition – Founders Leave
      Scalable
      Startup
      Transition
      Large Company
      Build
      Execute
      Search
      Founders depart
      • Operating executives
      • Professional Mgmt
      • Process
      • Beginning of scale
    • Buyable StartupBorn to Be Big
      Search
      Sell
      Scalable
      Startup
      €3 to 30M Acquisition
      Goal is to solve for:
      Internet, Mobile, Gaming Apps
    • Buyable Startup
      Search
      Sell
      Scalable
      Startup
      €3 to e0M Acquisition
      Goal is to solve for:
      Internet and Mobile Apps
      Sell to larger company
    • Scalable
      Startup
      Large Company
      • Business Model found
      • i.e. Product/Market fit
      - Repeatable sales model
      - Managers hired
      What’s A Startup?
      Search
      Execute
      A Startup is a temporary organization used to search for a repeatable and scalable business model
    • Large Company Sustaining InnovationInnovate or Evaporate
      Sustaining Innovation
      Transition
      Scalable
      Startup
      Large Company
      • Existing Market / Known customer
      • Known product feature needs
    • Large Company Disruptive Innovation
      New Division
      Transition
      Large Company
      Disruptive Innovation
      • New Market
      • New tech, customers, channels
    • Large Company Disruptive Innovation
      New Division
      Transition
      Large Company
      Disruptive Innovation
      • Build
      • Acquire
      - IP- Talent
      - Product
      - Customers
      - Business
    • Large Non-Profit
      Social Startup
      Social Entrepreneurship Startups
      • Solve pressing social problems
      • Social Enterprise: Profitable
      • Social Innovation: New Strategies
    • Each of these startups require different skills
      They Can Not Be Taught the Same Way
    • Search Versus ExecutionWhy Accountants Don’t Run Startups
    • Startups Search and Pivot
      The Search for the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Business Model found
      • customer needs/product features found
      i.e. Product/Market fit
      • Found by founders, not employees
      • Repeatable sales model
      - Managers hired
    • Startups Search, Companies Execute
      The Execution of the Business Model
      The Search for the Business Model
      Scalable
      Startup
      Transition
      Large Company
      - Cash-flow breakeven
      - Profitable
      - Rapid scale
      - New Senior Mgmt
      ~ 150 people
      • Business Model found
      • Product/Market fit
      - Repeatable sales model
      - Managers hired
    • Metrics Versus Accounting
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large
      Company
      Traditional Accounting
      • Balance Sheet
      • Cash Flow Statement
      • Income Statement
    • Metrics Versus Accounting
      The Search for the Business Model
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large
      Company
      Startup Metrics
      • Customer Acquisition Cost
      • Viral coefficient
      • Customer Lifetime Value
      • Average Selling Price/Order Size
      • Monthly burn rate
      • etc.
      Traditional Accounting
      • Balance Sheet
      • Cash Flow Statement
      • Income Statement
    • Customer Validation Versus Sales
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large
      Company
      Sales
      • Sales Organization
      • Scalable
      • Price List/Data Sheets
      • Revenue Plan
    • Customer Validation Versus Sales
      The Search for the Business Model
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large
      Company
      Customer Validation
      • Early Adopters
      • Pricing/Feature unstable
      • Not yet repeatable
      • “One-off’s”
      • Done by founders
      Sales
      • Sales Organization
      • Scalable
      • Price List/Data Sheets
      • Revenue Plan
    • Customer Development VersusProduct Management
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Product Management
      • Delivers MRD’s
      • Feature Spec’s
      • Competitive Analysis
      • Prod Mgmt driven
    • Customer Development Versus Product Management
      The Search for the Business Model
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Product Management
      • Delivers MRD’s
      • Feature Spec’s
      • Competitive Analysis
      Customer Development
      • Hypothesis Testing
      • Minimum Feature Set
      • Pivots
      • Founder-driven
    • Engineering Versus Agile Development
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Engineering
      • Requirements Docs.
      • Waterfall Development
      • QA
      • Tech Pubs
    • Engineering Versus Agile Development
      The Search for the Business Model
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Engineering
      • Requirements Docs.
      • Waterfall Development
      • QA
      • Tech Pubs
      Agile Development
      • Continuous Deployment
      • Continuous Learning
      • Self Organizing Teams
      • Minimum Feature Set
      • Pivots
    • Startups Model, Companies Plan
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Business Plan
      • Plan describes “knowns”
      • Known features for line extensions
      • Known customers/markets
      • Known business model
    • Startups Model, Companies Plan
      The Search for the Business Model
      The Execution of the Business Model
      Scalable
      Startup
      Transition
      Large Company
      Business Model
      • Unknown customer needs
      • Unknown feature set
      • Unknown business model
      • Model found by iteration
      • Plan describes “knowns”
      • Known features for line extensions
      • Known customers/markets
      • Known business model
    • Startups Are Not Small Versions of Large Companies
      Scalable
      Startup
      Transition
      Large Company
      Build
      Execute
      Search
      Yet our curriculums assume they are – we teach that the knowledge is interchangeable
    • Entrepreneurship as a Management Science
      E-School instead of B-School
    • Business as a Management Science
      • 1601 East India Company
      • 300 years of companies without MBA credentials
      • 1908 Harvard first MBA
    • Business School Topics
      Business School
      Scalable
      Startup
      Transition
      Large Company
      • Execution
      • Strategy
      • Accounting
      • Products
      • Engineering
      • Management
      • Administration
    • Business School Courses
      Business School
      Scalable
      Startup
      Transition
      Large Company
      Courses
      • Managerial Finance/Accounting
      • Managing Groups and Teams
      • Financial Accounting
      • Operations
      • Modeling for Optimization
      • Global Value Chain Strategies
    • B-School Results?
      • U.S. corporations went from local to national then international
      • Cadre of experienced managers to match
      • Experts on finance and growth (Dupont/GM)
      B-Schools made the 20th Century the American business century
    • Business School Focus on Large Company StrategiesExecution versus Search
    • Business School Limitations
      • Most Professors consult for large corporations
      • Most believe startups are just smaller versions of large companies
      • Most B-school entrepreneurship programs are side-shows
    • Irony:21st Century Job Growth will Come from New Ventures
    • Incubators a Reaction to the lack of Practical University Entrepreneurship
      • 1959 Josephy Mancuso - Batavia Industrial Ctr.
      • 1996 IdeaLab
      • 2005 Y-Combinator
      • 2011 100+ Incubators world-wide
    • Startup Incubators
      • Hands-on (experience vs. theory)
      • Goal: create a company and jobs
      • Full-time residential, stipend-based program
      • Curriculum: product development + best practices
    • What’s Missing?A Repeatable Methodology Not Just War Stories
    • Startups Are Not Smaller Versions of Large Companies
      Large Companies Execute Known Business Models
    • Startups Are Not Smaller Versions of Large Companies
      Startups Search for Unknown Business Models
    • E-School
      • Complete curriculum with Hands-on emphasis
      • Goal: methodology for startup creation
      • Can be taught anywhere
      • University
      • Incubator
      • Remotely
      • Curriculum: about the search for a business model
    • The Business Model:
      Any company can be described in 9 building blocks
    • CUSTOMER SEGMENTS
      which customers and users are you serving?
      which jobs do they really want to get done?
    • VALUE PROPOSITIONS
      what are you offering them? what is that
      getting done for them? do they care?
    • CHANNELS
      how does each customer segment want to be reached? through which interaction points?
    • CUSTOMER RELATIONSHIPS
      what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?
    • REVENUE STREAMS
      what are customers really willing to pay for? how?
      are you generating transactional or recurring revenues?
    • KEY RESOURCES
      which resources underpin your business model? which assets are essential?
    • KEY ACTIVITIES
      which activities do you need to perform well in your business model? what is crucial?
      57
    • KEY PARTNERS
      which partners and suppliers leverage your model?
      who do you need to rely on?
    • COST STRUCTURE
      what is the resulting cost structure?
      which key elements drive your costs?
    • value proposition
      customer relationships
      key activities
      customer segments
      key partners
      cost structure
      revenue streams
      key
      resources
      channels
      60
      images by JAM
    • sketch out your business model
    • sketch out your business models
    • But,Realize They’re Hypotheses
    • 9 Guesses
      Guess
      Guess
      Guess
      Guess
      Guess
      Guess
      Guess
      Guess
      Guess
    • Customer Development
      The founders
      ^
      Get Out of the Building
    • Customer DevelopmentThe Search For the Business Model
      Company
      Building
      CustomerDiscovery
      CustomerValidation
      Customer Creation
      Pivot
    • Customer Discovery
      CustomerDiscovery
      CustomerValidation
      Company
      Building
      CustomerCreation
      Stop selling, start listening
      Test your hypotheses
      Continuous Discovery
      Done by founders
    • Test Hypotheses:
      • Product
      • Market Type
      • Competition
      Turning Hypotheses to Facts
    • Test Hypotheses:
      • Problem
      • Customer
      • User
      • Payer
    • Test Hypotheses:
      • Channel
    • Test Hypotheses:
      • Demand Creation
      Test Hypotheses:
      • Problem
      • Customer
      • User
      • Payer
      Test Hypotheses:
      • Product
      • Market Type
      • Competitive
      Test Hypotheses:
      • Channel
      • (Customer)
      • (Problem)
      Test Hypotheses:
      • Channel
      Test Hypotheses:
      • Size of Opportunity/Market
      • Validate Business Model
      Test Hypotheses:
      • Pricing Model / Pricing
    • Test Hypotheses:
      • Demand Creation
      Test Hypotheses:
      • Problem
      • Customer
      • User
      • Payer
      Agile Development
      Test Hypotheses:
      • Product
      • Market Type
      • Competitive
      Test Hypotheses:
      • Channel
      • (Customer)
      • (Problem)
      Customer Development Team
      Test Hypotheses:
      • Channel
      Test Hypotheses:
      • Size of Opportunity/Market
      • Validate Business Model
      Test Hypotheses:
      • Pricing Model / Pricing
    • The Minimum Viable Product (MVP)
      • Smallest feature set that gets you the most …
      - orders, learning, feedback, failure…
    • The Pivot
      • The heart of Customer Development
      • Iteration without crisis
      • Fast, agile and opportunistic
    • Pivot Cycle Time Matters
      • Speed of cycle minimizes cash needs
      • Minimum feature set speeds up cycle time
      • Near instantaneous customer feedback drives feature set
    • The Pivot
      A Pivot is the change of one or more Business Model Canvas Components
    • The Pivot
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      A Pivot is the change of one or more Business Model Canvas Components
      Leading doctors
      Key Opinion Leaders
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Capital Equipment Sales and disposable item
      Per use fees
    • How Does This Really Work?Stanford Lean LaunchPad Class
    • How Does This Really Work?Stanford Lean LaunchPad Class
      8 Weeks From an Idea to a Business
    • Pivot ExampleRobotic Weeding
      Talked 75 Customers in 8 Weeks
    • Our initial plan
      Confidential
    • 20 interviews, 6 site visits…We got OUR Boots dirty
      Weeding
      Visited two farms in Salinas Valley to better understand problem
      Interviewed:
      • Bolthouse Farms, Large Agri-Industry in Bakersfield
      • White Farms, Large Peanut farmer in Georgia
      • REFCO Farms, large grower in Salinas Valley
      • Rincon Farms, large grower in Salinas Valley
      • Small Organic Corn/Soy grower in Nebraska
      • Heirloom Organics, small owner/operator, Santa Cruz Mts
      • Two small organic farmers at farmers market
      • Ag Services of Salinas, Fertilizer applicator
      Mowing
      Interviewed:
      • Golf: Stanford Golf course
      • Parks: Stanford Grounds Supervisor, head of maintenance and lead operator (has crew of 6)
      • Toro dealer (large mower manufacturer)
      • User of back-yard mowing system
      • Maintenance Services for City of Los Altos
      • Colony Landscaping (Mowing service for stadiums)
    • Business Plan Autonomous Vehicles for Mowing & Weeding
      Dealers sell, installs and supports customer
      Co. trains dealers, supports dealers
      - Innovation
      - Customer Education
      - Dealer training
      Mowing
      - Owners of public or commercially used green spaces (e.g. golf courses)
      - Landscaping service provider
      Weeding
      - Farmers with manual weeding operations
      We reduce operating cost
      - Labor reduction
      - Better utilization of assets (eg mow or weed at nights)
      - Improved performance (less rework, food safety)
      - Dealers (Mowing and Ag)
      - Vehicle OEMs (John Deere, Toro, Jacobsen, etc)
      - Research labs
      - Mowing Dealers
      - Ag Dealers
      Engineers on Autonomous vehicles, GPS, path-planning
      Asset sale
      Our revenue stream derives from selling the equipment
      Dealer discount
      COGS seek a 50-60% Gross Margin
      Heavy R&D investment
    • Found weeding in organic crops is HUGE problem; 50 - 75% of costs
      Crews of 100s-1000
      Back-breaking task
      (Ilegal) labor harder to get
      1-5 weedings per year/field
      $250-3,500 per acre and increasing
      Food contamination risk
    • Decision to make – mowing vs weeding
    • Autonomous vehiclesWEEDING
      Dealers sell, installs and supports customer
      Co. trains dealers, supports dealers
      - Innovation
      - Customer Education
      - Dealer training
      - Low density vegetable growers
      - High density vegetable growers
      - Thinning operations
      - Conventional vegetables
      We reduce operating cost
      - Labor reduction (100 to 1)
      - Reduced risk of contamination
      - Mitigate labor availability concerns
      - Ag Dealers
      - Ag Service providers
      - Research labs
      - Ag Dealers
      - Ag Service providers
      Engineers on Machine Vision
      Two problems:
      - Identification
      - Elimination
      Asset sale
      Our revenue stream derives from selling the equipment
      Dealer discount
      COGS seek a 50-60% Gross Margin
      Heavy R&D investment
    • 1 Week – 1 CarrotBot
      Confidential
    • CarrotBot
      Machine Vision data collection platform
      Monochrome & Color Cameras
      Laser-line sweep (depth measurement)
      Encoders (position/velocity)
      Onboard data acquisition & power
      CarrotBot 1.0
    • The Business Plan Canvas Updated
      • Farming conventions.
      • Demo, demo, and demo!!
      • Proximity is paramount
      • Technology Design
      • Marketing
      • Demo and customer feedback
      • Organic Farmers
      • Weeding Service Providers
      • Conventional Farmers
      • Cost Reduction
      • Remove labor force pains
      • Eliminate bio-waste hazards
      • Research Labs
      • Equipment Manufacturers
      • Distribution Network
      • Service Providers
      • IP – Patents
      • Video Classifier Files
      • Robust Technology
      • Dealers
      • Direct Service
      • Indirect Service
      • … then Dealers
      • Asset Sale
      • Direct Service with equipment rental
      • … then Asset Sale
      Value-Driven
    • Visit Highlights
      Above: Organic Carrots, 7wks.
      Top right: Conventional carrots
      Bottom Right: Very weedy. Will require multiple passes of hand weeding
    • Visit Highlights
      Carrot vs. Weeds
      Due to small root systems, carrots have no chance against weeds
    • Visit Highlights
      Organic Broccoli, closely cultivated. Weeds close to plants are hand-picked
    • Visit Highlights
      State of the Art in Weeding Technology for Organic Crops
    • Customer Hypothesis
      Pre-Test
      Hypothesis Confirmed
      • Growers interested in own equipment
      • Industrial (10,000s of acres)
      • Large (1,000s of acres)
      • Willing to pay $100k for one unit
      • Smaller growers (100s of acres) usually subcontract the labor services or rent equipment
      • All purchases through local dealers
      • Customer service is essential
      Post-Test
    • Customer Map #1 – Industrial Growers
      Example: Bolthouse Farms – Large Industrial Carrot Producer – 8K acres/yr
      • Equipment Operator
      • Local Farm Mgr
      • Cliff Kirkpatrick, visited
      • Director, Ag Technology
      • Justin Grove, interviewed
      Equipment Operator
      • VP, Growing Operations
      • CFO, CEO (Jeff Dunn)
      Cliff, Farm Mgr
    • Customer Map #2 – Service Providers
      Example: Ag Services – Service Provider, Salinas Valley
      • Equipment Operator
      • Grower
      • Service Mgr
      Me (left), Marty (middle, Service Mgr), Doug (right, Grower)
      • ?? (service mgr’s boss)
    • The Business Plan Canvas Updated
      • Farming conventions.
      • Demo, demo, and demo!!
      • Proximity is paramount
      • Technology Design
      • Marketing
      • Demo and customer feedback
      • Mid/Large Organic Farmers
      • Agricultural corporations
      • Weeding Service Providers
      • Mid/Large Conventional Farmers
      • Cost Reduction
      • Remove labor force pains
      • Eliminate bio-waste hazards
      • Research Labs
      • Equipment Manufacturers
      • Distribution Network
      • Service Providers
      • IP – Patents
      • Video Classifier Files
      • Robust Technology
      • Direct Service
      • Indirect Service
      • … then Dealers
      • Direct Service with equipment rental
      • ($1,500/d; 120d/yr )
      • Low density: $1,500/d
      • High density: $6,000/d
      Value-Driven
    • World Ag Expo interviews:the need is real and wide spread
      10+ interviews at show
      Everyone confirmed the need
      Robocrop, UK based, crude competitor sells for $171 K
      Revenue Stream
      Mid to small growers prefer a service
      Large growers prefer to buy, but OK with service until technology is proven
      Charging for labor cost saved is OK, as we provide other benefits (food safety, labor availability)
      Confidential
    • The Business Plan Canvas Updated
      • Farming conventions.
      • Demo, demo, and demo!!
      • Proximity is paramount
      • Technology Design
      • Marketing
      • Demo and customer feedback
      • Mid/Large Organic Farmers
      • Agricultural corporations
      • Weeding Service Providers
      • Mid/Large Conventional Farmers
      • Research Labs
      • Equipment Manufacturer
      • Distribution Network
      • Service Providers
      • 2 or 3 Key Farms
      • Cost Reduction
      • Remove labor force pains
      • Eliminate bio-waste hazards
      • IP – Patents
      • Video Classifier Files
      • Robust Technology
      • Direct Service
      • Indirect Service
      • … then Dealers
      • Direct Service with equipment rental
      • Low density: $1,500/d
      • High density: $6,000/d
      Value-Driven
      • R&D
      • Bill of Materials
      • Training & Service
      • Sales
    • Autonomous weeding - Final
      Direct
      - Provide high quality service at competitive price
      - Innovation
      - Customer Education
      - Dealer training
      - Low density vegetable growers
      - High density vegetable growers
      - Thinning operations
      - Conventional vegetables
      We reduce operating cost
      - Labor reduction (100 to 1)
      - Reduced risk of contamination
      - Mitigate labor availability concerns
      - Ag Service providers
      - Research Institutes (eg UC Davis, Laser Zentrum Hannover)
      - 3-4 key farms
      Direct
      - Alliance with service providers
      - Eventually sell through dealers
      Engineers on Machine Vision
      Two problems:
      - Identification
      - Elimination
      Service provision
      - Charge by the acre with modifier according to weed density
      - Eventually move to asset sale
      Costs for service provision
      COGS seek a 50-60% Gross Margin
      Heavy R&D investment
    • MammOptics
      Final project presentation for E 245 Winter 2011
    • MammOptics
      Initial Idea
      Breast cancer
      Mammography
      Leading cause of cancer in women
      190,000 diagnosis every year US
      41,000 deaths every year US
      Increasing diagnosis rates
      15%-25% false negatives rate
      25% false positives rate
      Requires X-ray radiation
      Low resolution
      MammOptics
      Novel technology based on RF-modulated optical spectroscopy
      • Earlier detection
      • Non-radiative
      • Non-invasive
    • MammOptics
      Technology Comparison
      I.I.T.Y.I.W.H.T.K.Y
    • MammOptics
      Business Model Canvas 1 of 4
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Hospitals
      Leading doctors
      3rd party manufacturers
      Distributors
      Pioneering radiologists in
      hospitals
      Radiation-free
      Earlier detection
      Non-invasive
      IP
      Leading doctors
      Technical Expertise
      Direct sales to hospitals
      Product Development
      Clinical trials
      Operating Costs
      Capital equipment sales and disposable item
    • MammOptics
      MammOptics
      Business Model Canvas 1 of 4
      Business Model Canvas 1 of 4
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Initial guess
      Initial guess
      Hospitals
      Leading doctors
      3rd party manufacturers
      Distributors
      Pioneering radiologists in
      hospitals
      Radiation-free
      Earlier detection
      Non-invasive
      Test:
      Customer segment
      Value proposition
      Initial guess
      IP
      Leading doctors
      Technical Expertise
      Direct sales to hospitals
      Product Development
      Clinical trials
      Operating Costs
      Initial guess
      Capital equipment sales and disposable item
    • Finding the right customer
      From radiologists to gynecologists
    • MammOptics
      Excursions into hospitals
      Debra Ikeda
      Jason Davies
      Jafi Alissa Lipson
      Sunita Pal
      Leading doctors
      6 women >40
      8 women <40
      Patients
      Alicia X-ray mammography
      Technicians
      Hospital Managers
      Paul Billings
      Holly V. Gautier
    • MammOptics
      Hospital purchasing decision tree
    • MammOptics
      Hospital purchasing decision tree
      Hospitals
      Complex purchasing decision tree. Several saboteours
    • MammOptics
      Private practice purchasing decision tree
    • MammOptics
      Private practice purchasing decision tree
      Private practice
      Faster adoption rate
      Attractive value proposition

    • MammOptics
      Business Model Canvas 2 of 4
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Hospitals (Capital Spending Committee)
      Leading doctors
      3rd party manufacturers
      Distributors
      Research Hospitals
      Pioneering Doctors
      Hospitals
      OB/GYNs
      PCPs
      Direct Sales to doctors
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 2 of 4
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Hospitals (Capital Spending Committee)
      Leading doctors
      3rd party manufacturers
      Distributors
      Research Hospitals
      Pioneering Doctors
      Hospitals
      OB/GYNs
      PCPs
      How do we get to our customer?
      Need sensitivity and specificity
      Direct Sales to doctors
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • Getting to our customer
      The world of direct sales and medical marketing
    • MammOptics
      Interviews
      Breast Cancer Advocacy Groups
      Be Bright Pink
      Jennifer Glover
      Dr. Cindy Woo
      Dr. Jags Powers
      Dr. Aaron Shuvkan
      OB/GYNs
      Katrina Bell
      Tanay Dudhela
      Jed Hwang
      Medical Sales
      FDA/Clinical Trials
      Phyllis Whitely
      Carl Simpson
    • MammOptics
      Marketing
    • MammOptics
      Marketing
      Strong influence on doctors via ACOG Standard of Care
      Strongly influenced by KOLs
      Access to ACOG by former member
    • MammOptics
      Marketing
      Researchers with strong peer recommendations
      Researchers conducting important clinical trials
      Outsourced survey research
      Researchers with numerous publications
    • MammOptics
      Marketing
      Focus on prominent journals
      Need two big publications
      Choose KOL as Principal Investigators (PI)
    • MammOptics
      Marketing
      Effective method for educating doctors
      Workshop must be approved by ACOG
      Doctors required to attend workshops
      Taught by objective medical experts
    • MammOptics
      Marketing
      ACOG Annual Clinical Meeting
      Opportunity for feedback from doctors
      Miami Breast Cancer Conference
    • MammOptics
      Marketing
      Trusted information source for patients
      Access to media outlets
      Critical opinion leader for technology adoption
    • MammOptics
      Channel Strategies and Costs
      Individual
      Doctors
      High value medical products
      (e.g. cardiovascular stents)
      Direct Sales
      • Doctor education
      • Direct feedback from doctors
      • Very expensive
      Individual Doctors
      Purchasing Administrators
      Purchasing Administrators
      Commodity medical products
      (e.g. latex gloves)
      Distributors
      • No doctor education
      • No customer feedback
      • Inexpensive
    • MammOptics
      Channel Strategies and Costs
      Sales strategy 1
      Sales strategy 2
      5 dedicated sales people
      $150,000 each/year
      Hire nurses or technicians
      with established
      relationships
      Early adopter feedback
      Continue with core group of sales people
      Use women’s healthcare equipment distributor
      Already established network of customers
    • MammOptics
      Pricing Strategy
      Equipment
      Lease model
      Per-use model
      Consumable
      Cost of the device
      $50,000
      $5,000
      $5,000
      $25,000
      Service per year
      $3,000
      $10,000
      0
      0
      Per-use fee
      0
      0
      $50
      0
      Consumable
      0
      0
      0
      $20
    • MammOptics
      Pricing Strategy
      Approved by customers and investors
      Equipment
      Lease model
      Per-use model
      Consumable
      Cost of the device
      $50,000
      $5,000
      $5,000
      $25,000
      Service per year
      $3,000
      $10,000
      0
      0
      Per-use fee
      0
      0
      $50
      0
      Consumable
      0
      0
      0
      $20
    • MammOptics
      Customer Workflow
      Current market
      Insurance
      Mammography
      Radiologist
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Current market
      But what would happen if we replace mammography?
      Insurance
      Mammography
      Radiologist
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Insurance
      Mammography
      Radiologist
      Breast Radiologists
      Hospitals
      Technicians
      Loss of jobs
      Eliminates loss leader
      Puts emphasis on biopsies
      Loss of jobs
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Insurance
      Mammography
      Radiologist
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Insurance
      Mammography
      Radiologist
      Insurance
      ACOG/ACS
      Same cost as mammography ($140)
      Reduced number of biopsies ($1000)
      Improved healthcare
      (mammography weak technique)
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Insurance
      Mammography
      Radiologist
      Hospital Administration
      Technician
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Customer Workflow
      Insurance
      PCP
      OB/GYN
      Mammography
      Patient
      Radiologist
      Hospital Administration
      Technician
      MammOptics
      Doctor specialty committee
      ACOG
      ACS
    • MammOptics
      Customer Workflow
      Insurance
      PCP
      OB/GYN
      PCP
      OB/GYN
      Mammography
      Mammography
      Patient
      Patient
      Radiologist
      Radiologist
      PCP OB/GYNs
      Patient
      MammOptics
      Increased revenue
      More complete patient care
      Improved healthcare
      Comfort
      Revenue
      Hospital Administration
      Technician
      Hospital Administration
      Technician
      MammOptics
      MammOptics
      Doctor specialty committee
      ACOG
      ACS
    • MammOptics
      Customer Workflow
      Insurance
      PCP
      OB/GYN
      Mammography
      Patient
      Radiologist
      Hospital Administration
      Technician
      MammOptics
      ACOG
      ACS
      Doctor specialty committee
    • MammOptics
      Business Model Canvas 3 of 4
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Leading doctors
      Key Opinion Leaders
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Capital Equipment Sales and disposable item
      Per use fees
    • MammOptics
      Business Model Canvas 3 of 4
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      ReimbursementPublishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Leading doctors
      Key Opinion Leaders
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      OB/GYNs
      PCPs
      Learned how to reach the customer
      How do we build a company based on this?
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Capital Equipment Sales and disposable item
      Per use fees
    • Building the company
      The backstage of a medical device company
    • MammOptics
      Interviews
      Stanford StatisticsSteve Axelrod
      Marga Ortigas-Wedekind
      FDA Clinical Trials
      Nick Mourlas
      Don Archambault
      Manufacturing
      Shannon Bergstedt
      Ali Habib
      Reimbursement
      Venture Capitalists
      Dana Mead
      Bill Starling
      Doctors/Sales
      Dr. Aron Shuftan
      Jed Hwang
      Michael J. Nohr
    • MammOptics
      Partners
      Manufacturing
      Choose manufacturing facility close to home
    • MammOptics
      MammOptics
      Partners
      Partners
      Manufacturing
      Reimbursement
      Manufacturing
      Difficult to get coverage for new product.
    • MammOptics
      Reimbursement Partners
      Insurances
      CPT Codes
      $75-$150
    • MammOptics
      Partners
      Manufacturing
      Reimbursement
      510K vs. PMA
      Largest cost
      Biggest financial risk
      FDA Clinical Trials
    • MammOptics
      Clinical Trials
      Stage 1
      Pilot trials
      Feasibility
      Comparison with mammography
      50 patients
      $600K
      6 months
      12/4/2009
    • MammOptics
      Clinical Trials
      Stage 2
      Interim trials
      Prove superior safety-efficacy & sensitivity
      Stage 1
      Pilot trials
      500 patients
      $7.2M
      6 months
      15 months
      12/4/2009
    • MammOptics
      Clinical Trials
      Stage 2
      Interim trials
      Stage 3
      FDA pivotal trials
      Stage 1
      Pilot trials
      FDA class II, 510(K) w/ trials
      Focus on superiority & economic end-points
      1500 patients
      $20.5M
      6 months
      15 months
      24 months
      12/4/2009
    • MammOptics
      Clinical Trials
      Stage 4
      Post-market studies
      Stage 2
      Interim trials
      2000 patients
      $26.8M
      Stage 3
      FDA pivotal trials
      Stage 1
      Pilot trials
      Specific Cat III CPT/ACP Codes
      Market traction
      6 months
      15 months
      24 months
      24 months
      12/4/2009
    • MammOptics
      Clinical Trials
      Stage 4
      Post-market studies
      Stage 2
      Interim trials
      $26.8M
      Stage 3
      FDA pivotal trials
      Stage 1
      Pilot trials
      $7.2M
      $600K
      $20.5M
      6 months
      15 months
      24 months
      24 months
      12/4/2009
    • MammOptics
      Clinical Trials
      12/4/2009
    • MammOptics
      MammOptics
      Partners
      Partners
      Manufacturing
      Reimbursement
      Financial timeline
      Funding
      FDA Clinical Trials
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      M&A / IPO $50 MM
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      Series D $35 MM
      $40M
      Series C $30.5 MM
      $30M
      $20M
      Cash Reserve
      Series B $9 MM
      $15M
      Series A $3.5 MM
      $10M
      $5M
      Financial timeline
      System
      Initialize
      Launch
      Regulatory / Clinical
      Marketable Product
      Proof of Concept
      Second Release
      Beta Prototype
      Design Milestones
      1st Release Test
      2nd Release Test
      Beta-Version Testing
      Laboratory Prototype
      Publication
      Publication
      Clinical Results
      Post-Market Clinical Studies
      Pilot Studies
      US Pivotal Clinical Trials
      Clinical Milestones
      US Interim Trials
      Non-Specific Codes
      Provisional Patent
      IRB / IDE
      Specific Codes
      (Cat. I CPT / APC)
      Cat III CPT
      FDA – Class II – 510 (k) with Clinical Trials
      Regulatory/ IP Milestones
      Application and System Patents
      Initial Product Launch
      IC and Processing Patents
      Technology Licensing
      151
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      $40M
      $30M
      $20M
      Cash Reserve
      $15M
      $10M
      $5M
      Initialize
      Proof of Concept
      Design Milestones
      Clinical Milestones
      Provisional Patent
      Regulatory/ IP Milestones
      Technology Licensing
      152
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      $40M
      $30M
      $20M
      Cash Reserve
      $15M
      Series A $3.5 MM
      $10M
      $5M
      System
      Initialize
      Proof of Concept
      Beta Prototype
      Design Milestones
      Beta-Version Testing
      Laboratory Prototype
      Pilot Studies
      Clinical Milestones
      Provisional Patent
      Regulatory/ IP Milestones
      Technology Licensing
      153
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      $40M
      $30M
      $20M
      Cash Reserve
      Series B $9 MM
      $15M
      Series A $3.5 MM
      $10M
      $5M
      System
      Regulatory / Clinical
      Marketable Product
      Beta Prototype
      Design Milestones
      Beta-Version Testing
      Laboratory Prototype
      Pilot Studies
      Clinical Milestones
      IRB / IDE
      Regulatory/ IP Milestones
      Application and System Patents
      IC and Processing Patents
      154
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      $40M
      Series C $30.5 MM
      $30M
      $20M
      Cash Reserve
      Series B $9 MM
      $15M
      $10M
      $5M
      System
      Regulatory / Clinical
      Second Release
      Design Milestones
      1st Release Test
      Publication
      Pilot Studies
      US Pivotal Clinical Trials
      Clinical Milestones
      US Interim Trials
      IRB / IDE
      Cat III CPT
      Regulatory/ IP Milestones
      Application and System Patents
      IC and Processing Patents
      155
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      Series D $35 MM
      $40M
      Series C $30.5 MM
      $30M
      $20M
      Cash Reserve
      $15M
      $10M
      $5M
      Launch
      Regulatory / Clinical
      Second Release
      Design Milestones
      2nd Release Test
      Publication
      Publication
      Clinical Results
      US Pivotal Clinical Trials
      Clinical Milestones
      US Interim Trials
      Non-Specific Codes
      FDA – Class II – 510 (k) with Clinical Trials
      Regulatory/ IP Milestones
      Initial Product Launch
      156
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      M&A / IPO $50 MM
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      Series D $35 MM
      $40M
      $30M
      $20M
      Cash Reserve
      $15M
      $10M
      $5M
      Launch
      Regulatory / Clinical
      Design Milestones
      Publication
      Post-Market Clinical Studies
      Clinical Results
      Clinical Milestones
      Non-Specific Codes
      Specific Codes
      (Cat. I CPT / APC)
      FDA – Class II – 510 (k) with Clinical Trials
      Regulatory/ IP Milestones
      Initial Product Launch
      12/4/2009
    • MammOptics
      MammOptics
      Financial / Operations Timeline
      2016
      2012
      2013
      2014
      2015
      2017
      2018
      M&A / IPO $50 MM
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q3
      Q4
      Q1
      Q2
      Q1
      Q2
      Q3
      Q4
      Q3
      Series D $35 MM
      $40M
      Series C $30.5 MM
      $30M
      $20M
      Cash Reserve
      Series B $9 MM
      $15M
      Series A $3.5 MM
      $10M
      $5M
      System
      Initialize
      Launch
      Regulatory / Clinical
      Marketable Product
      Proof of Concept
      Second Release
      Beta Prototype
      Design Milestones
      1st Release Test
      Beta-Version Testing
      2nd Release Test
      Laboratory Prototype
      Publication
      Publication
      Post-Market Clinical Studies
      Clinical Results
      Pilot Studies
      US Pivotal Clinical Trials
      Clinical Milestones
      US Interim Trials
      Non-Specific Codes
      Provisional Patent
      IRB / IDE
      Specific Codes
      (Cat. I CPT / APC)
      Cat III CPT
      FDA – Class II – 510 (k) with Clinical Trials
      Regulatory/ IP Milestones
      Application and System Patents
      Initial Product Launch
      IC and Processing Patents
      Technology Licensing
      158
      12/4/2009
    • MammOptics
      Business Model Canvas 4 of 4
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      KOLs
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      Clinical trial designer
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      Online
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Per use fees
    • MammOptics
      Business Model Canvas 4 of 4
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      KOLs
      3rd party manufacturers
      Breast Cancer Foundations
      ACOGACS
      Clinical trial designer
      Earlier detection
      Non invasive
      Price
      Accuracy
      Immediate Results
      OB/GYNs
      PCPs
      Final iteration of our business model
      But… need to think about the big picture…
      Direct Sales to hospitals
      Distributor
      Online
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Per use fees
    • MammOptics
      Business Model Canvas 1
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Hospitals
      Leading doctors
      3rd party manufacturers
      Distributors
      Radiation-free
      Earlier detection
      Non invasive
      Pioneering Doctors
      Hospitals
      Direct Sales to hospitals
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 2
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Hospitals
      Leading doctors
      3rd party manufacturers
      Distributors
      Research Hospitals
      Radiation-free
      Earlier detection
      Non invasive
      Pioneering Doctors
      Hospitals
      Direct Sales to hospitals
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 3
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Hospitals (Capital Spending Committee)
      Leading doctors
      3rd party manufacturers
      Distributors
      Research Hospitals
      Pioneering Doctors
      Hospitals
      Direct Sales to hospitals
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 4
      Strong clinical data
      Training
      Maintenance
      Product Development
      IP
      Clinical trials
      FDA
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      Hospitals (Capital Spending Committee)
      Leading doctors
      3rd party manufacturers
      Distributors
      Research Hospitals
      Breast Cancer Foundations
      Pioneering Doctors
      Hospitals
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 5
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      ReimbursementPublishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Patients:
      Radiation Free
      Non-Invasive
      Leading doctors
      Key Opinion Leaders
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Capital Equipment Sales and disposable item
    • MammOptics
      Business Model Canvas 6
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      KOLs
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Capital Equipment Sales and disposable item
      Per use fees
    • MammOptics
      Business Model Canvas 7
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      KOLs
      3rd party manufacturers
      Distributors
      Breast Cancer Foundations
      ACOGACS
      Clinical trial designer
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Per use fees
    • MammOptics
      Business Model Canvas 8
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      KOLs
      3rd party manufacturers
      (local)
      Breast Cancer Foundations
      ACOGACS
      Clinical trial designer
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Per use fees
    • MammOptics
      Business Model Canvas 9
      Strong clinical data
      Training
      Maintenance
      Conferences
      CME courses
      Product Development
      IP
      Clinical trials
      FDA
      Reimbursement Publishing
      Doctors:
      Earlier detection
      Price
      Accuracy
      Immediate Results
      Patients:
      Radiation Free
      Non-Invasive
      KOLs
      3rd party manufacturers
      (local)
      Breast Cancer Foundations
      ACOGACS
      Clinical trial designer
      OB/GYNs
      PCPs
      Direct Sales to hospitals
      Distributor
      IP
      Leading doctors
      Technical Expertise
      Product Development
      Clinical trials
      Operating Costs
      Marketing Costs
      Per use fees
    • Blog Your Progress
    • How?
      Customer Development
      The Process
      Narrative
      Interviews
      Surveys
      Videos
      Prototypes
      Business Model Canvas
      Scorekeeping
      Real-time Feedback
      Physical Reality Checks
      Skype
      Face-to-face
    • We Made Students Blog Their Progress
      It Changed Everything
    • Interview
    • Photos
      Videos
    • Surveys
    • Interview
      & Photos
    • Competitive Analysis
    • Key Findings
    • A/B Test Results
    • Key Question
    • Strategy
    • Business Model Canvas as the Scorecard
    • Business School Versus Entrepreneurship School
      Entrepreneurship School
      Business School
      Scalable
      Startup
      Transition
      Large Company
      • Hypothesis testing
      • Business Model design
      • Customer Development
      • Agile Development
      • Metrics
      • Venture Finance
      • Design Thinking
      • Execution
      • Accounting
      • Products
      • Engineering
      • Management
      • Administrative
    • Business School Versus Entrepreneurship Courses
      Business School
      Entrepreneurship School
      Scalable
      Startup
      Transition
      Large Company
      Courses
      • Lean Launchpad
      • Customer/Agile Development
      • Business Model Design
      • Entrepreneurial Management
      • Creativity and Innovation
      • Entrepreneurial Finance
      • User-centric design
      Courses
      • Managerial Finance/Accounting
      • Managing Groups and Teams
      • Financial Accounting
      • Operations
      • Modeling for Optimization
      • Global Value Chain Strategies
    • Business School Versus Entrepreneurship Courses
      Business School
      Entrepreneurship School
      Scalable
      Startup
      Transition
      Large Company
      I teach this
      Courses
      • Lean Launchpad
      • Customer/Agile Development
      • Business Model Design
      • Entrepreneurial Management
      • Creativity and Innovation
      • Entrepreneurial Finance
      • User-centric design
    • E-School
      • 20th century focus on physical goods
      • East coast manufacturing-centric
      • East coast B-School-centric
      • 21st century focus on virtual and physical goods and channels
      • West coast engineering school-centric
    • One More Thing
    • Adopted by the U.S. Government
    • Thanks
      www.steveblank.com