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Where to Play: A new addition to the Lean toolset

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A short overview of the Market Opportunity Navigator, including the full case study of Flyability and how it complements the Lean Startup methodology.

For more information visit:
https://wheretoplay.co/

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Where to Play: A new addition to the Lean toolset

  1. 1. Where to Play A new addition to the Lean toolset www.wheretoplay.co This work is licensed under Creative Commons Attribution- NonCommercial- ShareAlike 4.0 International license
  2. 2. The search for a scalable business model Design Thinking These tools tell you how to rapidly find product/market fit inside a market. However, they don’t help you figure out where to start the search for your new business.
  3. 3. “Stop playing target market roulette”
  4. 4. The Market Opportunity Navigator: A new addition to the Lean toolset  Provides a wide-lens perspective to find different potential market domains for your innovation  Find the best starting position before you zoom in and design the business model or test your MVP  Identify promising Plan B’s and growth options for the future Key for startups as well as large companies
  5. 5. The front end of customer development
  6. 6. Which market opportunities exist for us? What are the most attractive market opportunities for us? What market opportunities should we focus on? Three key questions for choosing where to play I II III
  7. 7. Safe drones for operating indoors, in complex and confined spaces, and in contact with people Example: Meet Flyability https://www.flyability.com/elios/ Where should they start building their business?
  8. 8. Having options at hand not only gives you the power of choosing, but also the power of staying agile. Step 1: Market Opportunity Set Options are a real asset for your firm!
  9. 9. Step 1 - understand your building blocks Describe your unique abilities/ core technological elements – in their own right, independent of any envisioned application. List what these elements can accomplish (their functions) and their main properties. How? Step 2 - construct different towers Search for different possible applications that these unique abilities can establish (as a whole or in parts), and who may need these different applications.
  10. 10. Remember: =
  11. 11. FlyAbility Unique Accessibility Collision tolerance (humans/ walls) Decoupled & light protection cage Roles on any surface Operates in a range of temperatures & pressures Aviation Abilities On-site video piloting Dark/ smoked/ dusty environments Limited flight duration Imagery System HD recording Thermal recording Real time video streaming Remotely adjustable Post mission analysis Oil & Gas Power plants Maritime Bridges Sewers Industrial Inspection Infrastructure Inspection Security / Search and Rescue Police Military Fire fightersMinesVessels Fuel tanks Pressure vessels Storage tanks Thermal boilers Nuclear rooms Wind Intelligence surveillance Rescue forces Open air facilities Indoors facilities 2015 Dams
  12. 12. FlyAbility 2015
  13. 13. Systematically evaluate and visually depict the assessment of your market opportunities, so you can better grasp their upsides and downsides, compare them and prioritize. Step 2: Attractiveness Map Combine the 1000 pieces of your puzzle into one clear image
  14. 14. What is an attractive market opportunity? What shapes the potential of an opportunity? What shapes the challenge of an opportunity?
  15. 15. FlyAbility 2015 Power plants – thermal boilers
  16. 16. FlyAbility 2015
  17. 17. FlyAbility 2015
  18. 18. Remember: this is not hard science Scoring your market opportunities is both a learning and a validation process. Generate your key assumptions and set your key action items for validating them. The overall goal is not scoring- in itself, but understanding the main upsides and downsides of your options!
  19. 19. Step 3: Agile Focus Dartboard The Agile Focus Strategy defines the market opportunity that you will pursue now, and the opportunities that you will keep open for backup or future growth. Bake agility into the DNA of your venture
  20. 20. Don’t get trapped Having foresight on your backup and growth options has significant implications for how you build and design your venture. It influences the way you:  Develop your technology  File your patents  Recruit your employees  Choose your stakeholders  Build your company culture  Pick your brand name  Design your marketing materials
  21. 21. Flyability 2015 Power plants – thermal boilers Maritime vessel inspection Oil & Gas Storage tanks Police surveillance
  22. 22. FlyAbility 2015
  23. 23. Increase your Chances to Win SUPPORT YOUR DECISION-MAKING Make an informed decision for enhancing your value creation potential in an uncertain world PROVIDE A SHARED LANGUAGE Communicate, share and debate with your team members and stakeholders OFFER GUIDANCE OVER TIME Trace back, track and update your decision over time The 3 steps of the Market Opportunity Navigator will successfully…
  24. 24. Copyright 2016 by Sharon Tal and Marc Gruber. All rights reserved. This material may not be reproduced Summary: Lessons learned (Steve Blank’s blog, May 2019)
  25. 25. If you want to learn more: The book: ‘Where to Play’ Free on-line course on edX: Find the right markets for your innovation Additional supporting materials / download worksheets at: www.wheretoplay.co Full case of Flyability and other videos on our YouTube channel: Market Opportunity Navigator

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