Vetting ideas

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Vetting ideas

  1. 1. Vetting Product Ideas ASH MAURYA @ashmaurya http://www.ashmaurya.com
  2. 2. Everyone gets hit by ideas.Most people ignore them. Entrepreneurs act on them.
  3. 3. An idea can consume years of your life.
  4. 4. Most startups fail.
  5. 5. A better, faster way for vetting ideasso you don’t waste time, money, and effort.
  6. 6. Life’s too short to build something nobody wants.
  7. 7. What is Running Lean Customer Development + Lean Startup + Bootstrapping
  8. 8. Customer Development Get out of the building. - Steve Blank
  9. 9. Lean StartupStartups that succeed are those that manage to iterate enough times before running out of resources. - Eric Ries
  10. 10. Bootstrapping Right Action, Right Time. - Bijoy Goswami
  11. 11. Most Plan As don’t work.
  12. 12. Not a better Plan A but a pathto a plan that works before running out of resources.
  13. 13. Running Lean Roadmap
  14. 14. 1 Document your Plan A
  15. 15. Reasonably smart people can rationalize anything but entrepreneurs are especially gifted at this.
  16. 16. Business Model versus Business Plan
  17. 17. Business Model versus Business Plan A document investors make you write that they don’t read
  18. 18. Business Model versus Business PlanA single diagram of your business
  19. 19. Problem Solution Unique Value Unfair Customer Proposition Advantage SegmentsTop 3 problems Top 3 features Single, clear, Can’t be easily Target customers compelling copied or bought message that states why you are different and Key Metrics worth buying Channels Key activities you Path to measure customersCost Structure Revenue StreamsCustomer Acquisition Costs Revenue ModelDistribution Costs Life Time ValueHosting RevenuePeople, etc. Gross Margin PRODUCT MARKETLean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under theCreative Commons Attribution-Share Alike 3.0 Un-ported License.
  20. 20. Your “product” is NOT the productProblem Solution Unique Unfair Customer Value Advantage Segments Proposition Key Metrics ChannelsCost Structure Revenue Streams
  21. 21. Your “business model” IS the productProblem Solution Unique Unfair Customer Value Advantage Segments Proposition Key Metrics ChannelsCost Structure Revenue Streams
  22. 22. Brainstorm possible models Time
  23. 23. Prioritize where to start 1. Customer Pain Level 2. Ease of Reach 3. Price/Gross Margin 4. Market Size Time
  24. 24. 2 Identify the riskiest parts of the model by stage and type
  25. 25. Identify the riskiest parts of your model Time
  26. 26. 3 Stages of a Startup Problem/Solution Product/Market Scale Fit Fit Stage 1 Stage 2 Stage 3
  27. 27. 3 Stages of a Startup Problem/Solution Product/Market Scale Fit Fit Do I have a problem worth solving?
  28. 28. 3 Stages of a Startup Problem/Solution Product/Market Scale Fit Fit Have I built something people want?
  29. 29. 3 Stages of a Startup Problem/Solution Product/Market Scale Fit Fit How do I accelerate growth?
  30. 30. Do you have a problem worth solving?
  31. 31. Problem Solution Unique Value Unfair Customer Proposition Advantage Segments 1 Key Metrics ChannelsCost Structure Revenue StreamsLean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under theCreative Commons Attribution-Share Alike 3.0 Un-ported License.
  32. 32. Problem Solution Unique Value Unfair Customer Proposition Advantage Segments 1 Key Metrics ChannelsCost Structure Revenue Streams 2Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under theCreative Commons Attribution-Share Alike 3.0 Un-ported License.
  33. 33. Problem Solution Unique Value Unfair Customer Proposition Advantage Segments 1 Key Metrics ChannelsCost Structure Revenue Streams 2 3Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under theCreative Commons Attribution-Share Alike 3.0 Un-ported License.
  34. 34. 3 Select the right tactics that maximize for speed, learning, and focus
  35. 35. SpeedLearning Focus
  36. 36. Speed Chasing your tailLearning Focus
  37. 37. Speed Chasing your tailLearning Focus Run out of resources
  38. 38. Premature SpeedOptimization Chasing your tail Learning Focus Run out of resources
  39. 39. The optimal learning loop Premature SpeedOptimization Chasing your tail Learning Focus Run out of resources
  40. 40. Systematically test your model Time
  41. 41. Systematically test your model Time
  42. 42. Systematically test your model Time
  43. 43. Systematically test your model Time
  44. 44. Systematically test your model ... Time
  45. 45. RISKS EXPERIMENT - PROBLEM INTERVIEWProblem 1Channels 2Revenue Streams 3
  46. 46. RISKS EXPERIMENT - PROBLEM INTERVIEWProblem 1 How do customers rank your problems?Channels 2Revenue Streams 3
  47. 47. RISKS EXPERIMENT - PROBLEM INTERVIEWProblem 1 How do customers rank your problems?Channels 2 Who has the pain? Can you reach them?Revenue Streams 3
  48. 48. RISKS EXPERIMENT - PROBLEM INTERVIEWProblem 1 How do customers rank your problems?Channels 2 Who has the pain? Can you reach them?Revenue Streams 3 How do they solve these problems today?
  49. 49. RISKS EXPERIMENT - SOLUTION INTERVIEWSolution 1Channels 2Revenue Streams 3
  50. 50. RISKS EXPERIMENT - SOLUTION INTERVIEWSolution 1 Will your solution solve their problem?Channels 2Revenue Streams 3
  51. 51. RISKS EXPERIMENT - SOLUTION INTERVIEWSolution 1 Will your solution solve their problem?Channels 2 How will they find you?Revenue Streams 3
  52. 52. RISKS EXPERIMENT - SOLUTION INTERVIEWSolution 1 Will your solution solve their problem?Channels 2 How will they find you?Revenue Streams 3 Will they pay for the solution? If not, who will?
  53. 53. RISKS EXPERIMENT - MVPKey Metrics 1Channels 2Revenue Streams 3
  54. 54. RISKS EXPERIMENT - MVPKey Metrics 1 Have you built something people want?Channels 2Revenue Streams 3
  55. 55. RISKS EXPERIMENT - MVPKey Metrics 1 Have you built something people want?Channels 2 How will they find you at scale?Revenue Streams 3
  56. 56. RISKS EXPERIMENT - MVPKey Metrics 1 Have you built something people want?Channels 2 How will they find you at scale?Revenue Streams 3 Are you getting paid?
  57. 57. Running Lean Illustrated
  58. 58. IteratedHow I Wrote My Book Time
  59. 59. Iterated How I Wrote My BookBlog Time
  60. 60. Iterated How I Wrote My Book Teaser PageBlog Time
  61. 61. Iterated How I Wrote My Book Teaser PageBlog Time
  62. 62. Iterated How I Wrote My Book Free Workshop Teaser PageBlog Time
  63. 63. Iterated How I Wrote My Book Paid Workshop Free Workshop Teaser PageBlog Time
  64. 64. Iterated How I Wrote My Book Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  65. 65. Iterated How I Wrote My Book Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  66. 66. Iterated How I Wrote My Book 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  67. 67. Iterated How I Wrote My Book Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  68. 68. Iterated How I Wrote My Book Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  69. 69. Iterated How I Wrote My Book Book Finished? Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog Time
  70. 70. Iterated How I Wrote My Book Book Finished? Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog TimeBlog
  71. 71. Iterated How I Wrote My Book Book Finished? Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog TimeBlog Workshops
  72. 72. Iterated How I Wrote My Book Book Finished? Publisher Interest 2-week releases Preview Chapter + Pre-order option Paid Workshop Free Workshop Teaser PageBlog TimeBlog Workshops Lean Canvas + USERcycle
  73. 73. Questions?1 Document your Plan A2 Identify the riskiest parts of the model by stage and type3 Select the right tactics that maximize for speed, learning, and focus

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