Ventures Roadmap


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Venture Roadmaps
A Practical Guide for Start Ups
By Mr. Scott Gillespie
Commercialization Partner

Road Mapping has been made popular by the global team that developed the Business Model Generation tools to help ventures understand their business model and rapidly visualize how to grow their venture.
In this session Scott will share with you and your team:
 How to shape your road map
 The 9 key elements – discussion of each
 Practical how to use the Road Map for your venture
 The core – Value Proposition
 Benefits of your road map – a visual action plan

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Ventures Roadmap

  1. 1. Venture Roadmaps A Practical Guide for Start Ups June 2011vBB Bedaya Roadmap Session
  2. 2. <ul><li>An idea becomes a start up </li></ul><ul><li>Customer Discovery </li></ul><ul><li>Roadmap framework </li></ul><ul><li>Bedaya Process with Roadmap </li></ul>Proposed Agenda Bedaya Roadmap Session June 2011vBB
  3. 3. Example with Sami <ul><li>through the fictional story of Sami, </li></ul><ul><li>a former finance type based in Ramallah, </li></ul><ul><li>who decided to launch his own start-up. </li></ul><ul><li>His entrepreneurial journey started with an unsatisfied customer need, </li></ul><ul><li>The spark, for a start-up. </li></ul>Bedaya Roadmap Session June 2011vBB
  4. 4. Sami’s business idea <ul><li>Sami likes wearing tailor-made shirts, </li></ul><ul><li>but sees shopping as a chore, </li></ul><ul><li>he used to buy these kind of shirts during his business trips to London or Hong Kong, </li></ul><ul><li>never really satisfied, by experience nor price </li></ul><ul><li>When Sami realized that it was not easy to find and buy tailor-mode shirts in the West Bank he wondered if this could be his business idea worth pursuing </li></ul>Bedaya Roadmap Session June 2011vBB
  5. 5. New venture Ideas have various origins <ul><li>An unsatisfied customer need like Sami’s. </li></ul><ul><ul><ul><li>many entrepreneurs launch a start-up when their own needs have NOT being satisfied </li></ul></ul></ul><ul><li>A technology (innovation) that allows doing business in a different or more efficient way </li></ul><ul><ul><ul><li>Skype offered free net calls because they used the free Internet as an infrastructure </li></ul></ul></ul><ul><li>A new product or service </li></ul><ul><ul><ul><li>Market hasn’t seen yet (Post IT), or maybe offered with a different value proposition (discount airlines ) </li></ul></ul></ul>Bedaya Roadmap Session June 2011vBB
  6. 6. Stress Test Ideas (C & T) <ul><li>Customers: </li></ul><ul><li>Who could the customers for the idea be? </li></ul><ul><li>How could they use the idea to get their job done? </li></ul><ul><li>Are there enough potential customers? </li></ul><ul><li>Do they have buying power? </li></ul><ul><li>Are they easy to reach? </li></ul><ul><li>Trends: </li></ul><ul><li>Could some key trends render the idea obsolete? </li></ul><ul><li>Are key trends going to boost the idea in the future? </li></ul>Bedaya Roadmap Session June 2011vBB
  7. 7. Stress Test Ideas (P & M) <ul><li>Peers: </li></ul><ul><li>Which peers are already operating in this space? </li></ul><ul><li>What could be substitute products or services? </li></ul><ul><li>Which peers, competitors or partners are active? </li></ul><ul><li>Macro environment: </li></ul><ul><li>Which macro-factors must be in place to make the idea reality (e.g. infrastructure, laws, etc.)? </li></ul>Bedaya Roadmap Session June 2011vBB
  8. 8. Idea worth pursuing? <ul><li>The goal of this phase is to figure out if a business idea is worth pursuing. </li></ul>Bedaya Roadmap Session June 2011vBB
  9. 9. Go / No Go - with 1 st Idea? <ul><li>After some initial research Sami decides to continue investigating his business idea </li></ul><ul><li>The question is: how can he offer tailor-made shirts into a viable venture? </li></ul><ul><li>At this point many entrepreneurs fully focus on the product or service they are planning to offer </li></ul><ul><li>RISKY! </li></ul><ul><li>It’s far more illuminating to sketch out and think through several alternative business models – we call these Venture Roadmaps </li></ul>Bedaya Roadmap Session June 2011vBB
  10. 10. Venture Roadmap - Prototyping <ul><li>most founders feel more comfortable merely discussing ideas on one single venture roadmap </li></ul><ul><li>It’s more valuable to have 4-6 venture roadmap alternatives - see where potential is </li></ul><ul><li>models should take 30-60 min with ballpark figures </li></ul><ul><li>so you can test roadmap’ strengths & weaknesses </li></ul>Bedaya Roadmap Session June 2011vBB
  11. 11. Venture Roadmap - 1 <ul><li>the basic model of offering tailor-made shirts that are mfg in China to white-collar office workers in the West Bank. Key Question- which channels? </li></ul><ul><li>Sami plans to operate no stores and no sales force with sales through independent style advisers’ who will earn commissions of up to 25% </li></ul>Bedaya Roadmap Session June 2011vBB
  12. 12. Venture Roadmap - 2 <ul><li>The second Canvas illustrates the value proposition that shall attract the ‘style advisers’ who will essentially be recruited by other advisers </li></ul><ul><li>Like in most direct-sales companies, advisers will get a cut of the sales made by reps they recruit. </li></ul>Bedaya Roadmap Session June 2011vBB
  13. 13. Testing the Assumptions <ul><li>As attractive as this first venture roadmap might be, it’s nothing more than a set of guesses </li></ul><ul><li>Testing can be visualized with three layers </li></ul>Bedaya Roadmap Session June 2011vBB
  14. 14. Quest for the Right Business Model <ul><li>Design your Venture Roadmap </li></ul><ul><li>Adapt your Venture Roadmap to market feedback </li></ul><ul><li>Scale you Venture Roadmap when you have tested </li></ul><ul><li>3 phases can be supported by concepts outlined in: </li></ul><ul><li>Customer Development </li></ul><ul><ul><ul><li>tools to ‘test’ roadmaps & customer assumptions </li></ul></ul></ul><ul><li>Designing Business Models </li></ul><ul><ul><ul><li>tools to map, design ventures </li></ul></ul></ul>Bedaya Roadmap Session June 2011vBB
  15. 15. Concept Product Dev. Alpha/Beta Test Launch/ 1 st Ship Customer Problem : known Product Features : known Traditional Product Introduction Bedaya Roadmap Session June 2011vBB
  16. 16. More startups fail from a lack of customers than from a failure of product development Customers are KEY Bedaya Roadmap Session June 2011vBB
  17. 17. Customer Development Bedaya Roadmap Session June 2011vBB Concept/ Bus. Plan Product Dev. Alpha/Beta Test Launch/1st Ship Product Development Customer Development Company Building Customer Discovery Customer Validation Customer Creation Pivot
  18. 18. <ul><li>Stop selling, start listening </li></ul><ul><li>Test your hypothesis </li></ul><ul><li>Continuous Discovery </li></ul><ul><li>Done by founders </li></ul>Customer Discovery Customer Validation Company Building Customer Creation Customer Discovery Bedaya Roadmap Session June 2011vBB
  19. 19. 1 Page Roadmap customer segments key partners cost structure revenue streams channels customer relationships key activities key resources value proposition Bedaya Roadmap Session June 2011vBB
  20. 20. Customer Segments Which customers and users are you serving? Which jobs do they really want to get done? Bedaya Roadmap Session June 2011vBB
  21. 21. Value Propositions <ul><li>What is the ‘market/customer Pain’? </li></ul><ul><li>How does your product address the customer’s Pain? </li></ul><ul><li>What is different about your product? </li></ul><ul><li>Why would a customer buy from you? </li></ul>Bedaya Roadmap Session June 2011vBB
  22. 22. Do you REALLY have a Value Proposition <ul><li>Make an honest assessment </li></ul><ul><li>Do you really have a product, or is it just a invention? </li></ul><ul><li>What is your true value to the consumer, end-user or patient? </li></ul><ul><li>Are you solving a real problem? Are you addressing a real need? </li></ul>Bedaya Roadmap Session June 2011vBB
  23. 23. Channels How does each customer segment want to be reached? Through which interaction points? Bedaya Roadmap Session June 2011vBB
  24. 24. Customer Relationships What relationships are you establishing with each segment? Personal? Automated? Acquisitive? Retentive? Bedaya Roadmap Session June 2011vBB
  25. 25. Revenue Streams What are customers really willing to pay for? How are you generating transactional or recurring revenues? Bedaya Roadmap Session June 2011vBB
  26. 26. Key Resources Which resources underpin your business model? Which assets are essential? Bedaya Roadmap Session June 2011vBB
  27. 27. Key Activities Which activities do you need to perform well in your business? What is crucial? Bedaya Roadmap Session June 2011vBB
  28. 28. Key Partners Which partners and suppliers leverage your model? Who do you need to rely on? Bedaya Roadmap Session June 2011vBB
  29. 29. Cost Structure What is the resulting cost structure? Which key elements drive your costs? Bedaya Roadmap Session June 2011vBB
  30. 30. Sketch our your venture roadmap Bedaya Roadmap Session June 2011vBB
  31. 31. Bedaya Venture Roadmap Bedaya Roadmap Session June 2011vBB
  32. 32. Guess Guess Guess Guess Guess Guess Guess Guess Guess 9 Guesses (TBQ) Bedaya Roadmap Session June 2011vBB
  33. 33. <ul><li>Test Hypotheses: </li></ul><ul><li>Problem </li></ul><ul><li>Customer </li></ul><ul><li>User </li></ul><ul><li>Payer </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Demand Creation </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Channel </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Product </li></ul><ul><li>Market Type </li></ul><ul><li>Competitive </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Pricing Model / Pricing </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Size of Opportunity/Market </li></ul><ul><li>Validate Business Model </li></ul><ul><li>Test Hypotheses: </li></ul><ul><li>Channel </li></ul><ul><li>(Customer) </li></ul><ul><li>(Problem) </li></ul>Customer Development Team Agile Development Hypothesis map drive key actions Bedaya Roadmap Session
  34. 34. <ul><li>Application (BVP or PEP) </li></ul><ul><li>Invitation (following local & global assessment) </li></ul><ul><li>Venture Barometer (diagnostic, what is needed?) </li></ul><ul><li>Agreement </li></ul><ul><ul><li>Review + Mud map + action plan + social contract </li></ul></ul><ul><li>Roadmap (led by founder, supported by Bedaya) </li></ul><ul><ul><li>Drives the action plan </li></ul></ul><ul><ul><li>Matching with mentor (refine roadmap & action plans) </li></ul></ul><ul><ul><li>Sales campaign(s) </li></ul></ul><ul><ul><li>Capital campaign (s)/strategy </li></ul></ul><ul><li>Process led by venture managers (B Team) </li></ul><ul><ul><li>Supported by T2VC and PICTI </li></ul></ul>Bedaya Process Bedaya Roadmap Session June 2011vBB
  35. 35. Example Mudmap  Roadmap Bedaya Roadmap Session June 2011vBB
  36. 36. Bedaya leverages tools Bedaya Roadmap Session June 2011vBB
  37. 37. Bedaya Roadmap Session <ul><li>Scott Gillespie </li></ul><ul><li>Commercialization Partner T2VC </li></ul><ul><li>971 56 103 1481 or [email_address] </li></ul><ul><li>T2VC team @ </li></ul>June 2011vBB