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Design thinking for Entrepreneurs

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Design thinking for Entrepreneurs

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Design thinking for Entrepreneurs

  1. 1. Introduction to the Company Live Q&A Session with Prof. Jayanta Chatterjee Design Thinking, IIT Kanpur & ISB
  2. 2. Page -2- Agenda for Session Product Development Model Technology Life Cycle Adoption Curve Customer Development Model 1 2 3 Types of Startup Markets4 Open Q&A5
  3. 3. Page -3- Product Development Model A conventional approach that is meant for launching new products in the existing market • Draft Clear Vision • Develop Product/Service Concept • Structure the Distribution Channel • Engineer Product • Figure the Marketing Requirements • Onboard the First Beta Customers • Seek Additional Capital • Launch Marketing Programs • Keep Raising Funds till IPO/Merger Concept/Seed LaunchAlpha/Beta Test Product Development
  4. 4. Page -4- Pitfalls of Product Development Model There are certain aspects which are wrong with this model 1 2 3 4 5 Where Are the Customers? Emphasis on Execution Instead of Learning and Discovery Lack of Meaningful Milestones Focus on First Customer Shipment Use of Product Development Methodology to Measure Sales
  5. 5. Page -5- Pitfalls of Product Development Model There are certain aspects which are wrong with this model 6 Use of Product Development Methodology to Measure Marketing 7 Premature Scaling 8 Death Spiral: Cost of Getting Product Launch Wrong 9 All Startups Not Being Alike 10 Unrealistic Expectations
  6. 6. Page -6- Agenda for Session Technology Life Cycle Adoption Curve Product Development Model Customer Development Model 2 1 3 Types of Startup Markets4 Open Q&A5
  7. 7. Page -7- Technology Life Cycle Adoption Curve An alternative approach for success with customers and markets Source: http://www.henrik.no/presentations/thesis/scandinavian_airlines_1999/literature.html
  8. 8. Page -8- Agenda for Session Technology Life Cycle Adoption Curve Product Development Model Customer Development Model 2 1 3 Types of Startup Markets4 Open Q&A5
  9. 9. Page -9- Customer Development Model A model based on learning from and discovering your company’s customer base Customer Discovery Customer Creation Customer Validation Company Building STOP STOP STOP • Find Customers • Clear your Product Differentiation • Emphasize on Customer Feedback • Create a Sales Road Map • Verify Market • Check Product’s Perceived Value • Decide on Price • Create End-User Demand • Spend Heavily on Marketing • Control Cash Burn Rate • Build Mission Oriented Departments • Keep Low Cash Burn Rate • Scale Up Gradually
  10. 10. Page -10- Agenda for Session Technology Life Cycle Adoption Curve Product Development Model Customer Development Model 2 1 3 Types of Startup Markets4 Open Q&A5
  11. 11. Page -11- Types of Startup Markets Each of these have different set of requirements to succeed New Product in Existing Market New Product in New Market New Product Attempting to Resegment Existing Market: Low Cost New Product Attempting to Resegment Existing Market: Niche • Known User Base • Known Competitors • Better Product/Service to be Tested • Company: Tesla • Product: Electric Cars • Unknown User Base • No Competitor Base at the Onset • High Cash Burn Rate • Company: Apple • Product: iPod • Low Cost User Base • Known Competitors • Limited Product Features • Company: Indigo Product: Airline • User Base with Specific Needs • Known Competitors • Product Performance Focus • Company: Amy’s Kitchen • Product: Organic Food
  12. 12. Page -12- Agenda for Session Technology Life Cycle Adoption Curve Product Development Model Customer Development Model 2 1 3 Types of Startup Markets4 Open Q&A5
  13. 13. Page -13- Ask your queries Open Q & A Now you can put up your queries on the chat box

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