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Tools for Venture Creation and Growth by Antonio Fonduca Venture Diplomat

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How do you launch and grow a new venture initiative? What are the relevant tools and methodology to be applied? This is your blueprint and roadmap to take your first steps towards success.

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Tools for Venture Creation and Growth by Antonio Fonduca Venture Diplomat

  1. 1. VENTURE TOOLS FROM ZERO TO HERO ANTONIO FONDUCA @ VENTURE DIPLOMAT
  2. 2. TOOLS FOR VENTURE CREATION & GROWTH TABLE OF CONTENTS 1. SOLVE A PROBLEM THAT MATTERS 2. BUSINESS CONCEPT CREATION 3. DEFINE YOUR ASSUMPTIONS 4. MAP THE CUSTOMER JOURNEY 5. BUSINESS MODEL GENERATION 6. VALUE PROPOSITION ANALYSIS 7. VALUE PROPOSITION PROTOTYPING 8. BUILD A WAR ROOM
  3. 3. TOOLS FOR VENTURE CREATION & GROWTH 1.SOLVE A PROBLEM THAT MATTERS PURPOSE ▸ Set the direction of the initiative and align the ambition level PROCESS ▸ Capture past business achievements ▸ Assess specific innovation & growth needs ▸ Identify main challenges & levers for growth
  4. 4. TOOLS FOR VENTURE CREATION & GROWTH 1.SOLVE A PROBLEM THAT MATTERS PROCESS ▸ Develop ambitious & specific winning aspirations OUTCOMES ▸ A clear and aligned winning aspiration to set the direction for the whole initiative ▸ A clear set of success criteria to set the ambition level of the initiative
  5. 5. TOOLS FOR VENTURE CREATION & GROWTH 2.BUSINESS CONCEPT CREATION PURPOSE ▸ Gather your brightest minds ▸ Review existing insights & ideas ▸ Develop viable business concepts to be explored further PROCESS ▸ Idea & concept generation
  6. 6. TOOLS FOR VENTURE CREATION & GROWTH 2.BUSINESS CONCEPT CREATION PROCESS ▸ Select top three concepts to deliver fast and reach targeted metrics ▸ Staff each concept with relevant team members OUTCOMES ▸ Business concepts with rough quantification defined ▸ High-level value propositions, business models & prototypes
  7. 7. IS YOUR SOLUTION CREATING REAL CUSTOMER VALUE?
  8. 8. TOOLS FOR VENTURE CREATION & GROWTH 3.DEFINE YOUR ASSUMPTIONS PURPOSE ▸ Prioritize activities by level of impact ▸ Focus your resources PROCESS ▸ Iterate the value proposition & the business model ▸ Prioritize and score your assumptions according to importance & level of uncertainty
  9. 9. TOOLS FOR VENTURE CREATION & GROWTH 3.DEFINE YOUR ASSUMPTIONS PROCESS ▸ Define the data & insights needed to verify your assumptions ▸ Make an analysis & prototyping plan OUTCOMES ▸ A clear picture on what assumptions to test and how to test them ▸ A solid foundation for sprint planning & assumptions testing
  10. 10. TOOLS FOR VENTURE CREATION & GROWTH 4.MAP THE CUSTOMER JOURNEY PURPOSE ▸ Understand your target customers ▸ Understand their needs during the whole customer journey PROCESS ▸ Identify the steps that your customer takes before / during / after purchasing your product or service ▸ Map the jobs-to-be-done, pains & gains in each step
  11. 11. TOOLS FOR VENTURE CREATION & GROWTH 4.MAP THE CUSTOMER JOURNEY PROCESS ▸ Select your opportunities - pains to be relieved and gains to be developed OUTCOMES ▸ Powerful & real insights into the world of your potential customer ▸ Insights for the upcoming value proposition deep dive & business model design
  12. 12. WHAT WILL YOU SELL (VALUE PROPOSITION) TO WHO (CUSTOMER SEGMENT) AND HOW (PARTNERS, DISTRIBUTION & MARKETING CHANNELS)?
  13. 13. TOOLS FOR VENTURE CREATION & GROWTH 5.BUSINESS MODEL GENERATION PURPOSE ▸ Identify the building blocks that are needed to create a long-term successful business ▸ A framework for working in a collaborative way with the whole team & key stakeholders PROCESS ▸ Fill your business model canvas with the information gathered in the previous steps
  14. 14. TOOLS FOR VENTURE CREATION & GROWTH 5.BUSINESS MODEL GENERATION PROCESS ▸ Brainstorm one block at the time – reflecting on the input from the customer journey & the value proposition analyses OUTCOMES ▸ Initial business model alternatives for how the idea could be commercially viable ▸ A high-level visual description that can be understood by stakeholders
  15. 15. TOOLS FOR VENTURE CREATION & GROWTH 6.VALUE PROPOSITION ANALYSIS PURPOSE ▸ Ensure delivery of true value to customers ▸ Ensure a differentiated and unique offering vs competitor alternatives PROCESS ▸ Map insights from customer journey & identify degree of fit and/or gap vis-a-vis the solution ▸ Determine the competing factors in the industry
  16. 16. TOOLS FOR VENTURE CREATION & GROWTH 6.VALUE PROPOSITION ANALYSIS PROCESS ▸ Draw value curves and compare with competitor ones ▸ Feed-back the data into the business model OUTCOMES ▸ Clear idea of the value to be delivered to the customer in the form of a value curve ▸ A value curve of the industry & competition that shows how the solution compares to alternatives
  17. 17. THINK IT BUILD IT SHIP IT TWEAK IT
  18. 18. TOOLS FOR VENTURE CREATION & GROWTH 7.VALUE PROPOSITION PROTOTYPING PURPOSE ▸ Shorten the time from concept idea to tangible market feedback ▸ Figure out the most valuable elements of the value proposition PROCESS ▸ Map key assumptions against different prototyping methods ▸ Build models & prototypes
  19. 19. TOOLS FOR VENTURE CREATION & GROWTH 7.VALUE PROPOSITION PROTOTYPING PROCESS ▸ Update the sprint plan & responsibilities ▸ Gather insights, improve the value propositions & business model OUTCOMES ▸ Clear insights into customer preferences for the value proposition ▸ Get the team members to engage & relate with customers
  20. 20. TOOLS FOR VENTURE CREATION & GROWTH 8.BUILD A WAR ROOM PURPOSE ▸ Assemble a high performing team to work in an inspiring & effective environment for business creation ▸ Set common standards that drive fast decision making, learning & progress PROCESS ▸ Define team standards ▸ Set ambitions, make visual plan until launch & plan the first sprint in more detail
  21. 21. TOOLS FOR VENTURE CREATION & GROWTH 8.BUILD A WAR ROOM PROCESS ▸ Agree on the frequency for status updates, sprints, planning & feedback sessions from stakeholders OUTCOMES ▸ A creative & focussed work space to getting things done ▸ Common work standards, structure and tempo ▸ Efficient knowledge sharing and collaboration
  22. 22. TOOLS FOR VENTURE CREATION & GROWTH QUESTIONS? HQ@VENTUREDIPLOMAT.COM
  23. 23. VENTURE TOOLS FROM ZERO TO HERO ANTONIO FONDUCA @ VENTURE DIPLOMAT

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