Mentor update 3 distribution channels

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Mentor update 3 distribution channels

  1. Distribution Channels Teaching Notes
  2. Teaching Objectives • Continue the pace of discovery, customer calls, insights and critiques • Make sure your team continues to: – Annotate their Canvas on LaunchPad Central – Include diagrams of each part of their hypothesis – Update their Discovery Narrative • Focus your main critiques on their understanding of the customer segments – Acknowledge that you’ve read their posts – Comment on egregious parts of the canvas as needed • Take their temperature – Are they working well together? – Any team dysfunctions (if so, LET US KNOW SO WE CAN HELP)
  3. How? • Most teams usually think of customers as the users of the product – Make sure they understand there might be multiple customer segments (users, payers, etc.) • Make sure their presentation includes a customer archetype slide and a customer workflow diagram – If they can’t draw a “day in the life” of a customer, then they don’t know enough about them yet …
  4. How? • Use your critiques to drive them to understand what pains their customers havehwat gains they are looking for, and what jobs they want to get done – Which features from the value prop will do that? • Who specifically is (are) the archetype(s)? • If you can’t draw the customer flow, you don’t understand it !
  5. Common Student Errors • Not enough customer calls • Value data from customer calls – “They like our features …” • Little to no insight from the data – “we called on 12 customers and here’s what they said …” • Customer segments are not “end users” • Did not articulate crisp, realistic pass/fail tests for each hypothesis
  6. Take Away from Udacity Lecture • Students (and their mentors) should understand: – Definition of a distribution channel • Direct Indirect, OEM – Difference between physical and virtual channels – Types of physical and virtual channels – Distribution channel vs. Product complexity – Distribution Channel Economics
  7. Why? • Many teams confuse channels with customers • Most do not understand the impact a channel can have on revenue streams • The more complex the channel, the smaller the margins will be • There is a cost/benefit analysis made when choosing competing channel alternatives • Channels are a strategy – DISCOVERYING THE RIGHT CHANNEL FIT IS AN ART
  8. Mentors should emphasize: • Channels need to match the customer segments • Channels need to match the product (and support) complexity • Channel economics need to match revenue goals • Founders need to sell and close the first few orders to “prove” the channel …

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