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Jbmc preparation guidelines october, 2019 (eng)


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Preparation for Japan Business Model Competition

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Jbmc preparation guidelines october, 2019 (eng)

  1. 1. Preparation for Japan Business Model Competition October 2019 Member of JBMC Executive Committee Waseda University Research Innovation Center Dr. Takeru Ohe
  2. 2. References 2019/10/31 (C) 実験経営学研究所 大江建 2
  3. 3. Three Guidelines for JBMC Behavioral Psychology Guideline (Imitate serial entrepreneurs) Presentation Guideline (Business Model Canvas) Assumption Management Guideline (Experimental Management)2019/10/31 (C) 実験経営学研究所 大江建 3
  4. 4. Behavior Psychology Guideline Imitate serial entrepreneurʼs behavior 2019/10/31 (C) 実験経営学研究所 大江建 4
  5. 5. Behavioral Psychology Guideline Imitate the behavior of professional entrepreneurs • E-1 Make the most of what you have (what you can do, what you have, who knows) • E-2 Flexibly combine resources to find and provide collaborators • E-3 Decide the range that you can restart even if you fail (conditions for failure) • E-4 Find a new market, even if it seems not worth it • E-5 You can't predict the future, so start with what you can do. • Reference: Effectuation, Saras Sarasvathy, Edward Elgar Publishing Limited, 2008
  6. 6. Behavioral Psychology Guideline Entrepreneurial Mindset • M-1 They passionately seek new opportunities. • M-2 They pursue opportunities with enormous discipline. • M-3 They pursue only the very best opportunities and avoid exhausting themselves and their organizations by chasing after every option. • M-4 They focus on execution, specifically, adaptive execution. (E-5) • M-5 They engage the energies of everyone in their domain. (E-2) • References: The Entrepreneurial Mindset, Rita McGrath and Ian McMillan • Harvard Business School Press 2000 pp2~3
  7. 7. Behavioral Psychology Guideline Enterprising Tendency • T-1 Need of Achievement: A tendency to set challenging goals (M-1) (E-5) • T-2 Need for Autonomy: Strong need to do things in an independent way • T-3 Creative Tendency: A tendency to have ideas and sensitivity to opportunity • T-4 Calculated Risk Taking: A tendency to make decisions without exhaustively gathering information • T-5 Locus of Controls: Achievement is due to ability and effort Reference︓Caird, S. (2006) General measure of Enterprising Tendency Version 2 (GET2)
  8. 8. Presentation Guideline BMC+ Drawing a business model picture on oil painting cloth 2019/10/31 (C) 実験経営学研究所 大江建 8
  9. 9. Presentation Guideline Drawing business model picture on a canvas • Canvas: a piece of cloth backed or framed as a surface for a painting • When drawing a business model picture, you need to answer the following four questions: • "Who will provide what and why?“ • "How to provide the products/services?,“ • "How to make a profit,“ • "Is the person who bought it once purchased it again or wrote a review?"
  10. 10. A Business Model drawn by Ms. Wakana Nukui 1 0 10/31/19 (C) 実験経営学研究所 大江建
  11. 11. Elements of Nespresso 2019/10/31 (C) 実験経営学研究所 大江建 11
  12. 12. Products/Services(商品/サービス) Job To Be Done(解決されるべき課題、顧客ニーズ) Existing alternatives (既存の代替品) Key Partnerships (主要提携) ・ ・ ・ Key Activities (主要活動) ・ ・ ・ Value Propositions (価値提案) ・ ・ ・ Customer Relationships (顧客関係) ・ ・ ・ Customer Segments (顧客セグメント) ・ ・ ・ Key Resources (主要資源) ・ ・ ・ Channels (流通) ・ ・ ・ Cost Structure(コスト構造) ・ ・ ・ Revenue Streams(収益構造) ・ ・ ・ Early adopters ( アーリーアダプター) BMC+
  13. 13. Business Model Canvas What is offered to whom and why • To answer “what, who, in what situation, why to buy”, you need to answer 5W1H: • • Who, where, who, when, what, why, how? • • “I want to relax on the sofa at home to drink a store level coffee which I can prepare easily only 30 seconds. “
  14. 14. 2019/10/31 (C) 実験経営学研究所 大江建 14
  15. 15. Business Model Canvas How to provide the products/services • “What we have to provide products and services, which will help us with what we do not have, who will purchase, produce, deliver and deliver to our customers " • First, understand what you can do and what you have • From "Who knows" to "Find out collaborators and flexibly combine resources to provide
  16. 16. 2019/10/31 (C) Dr. Takeru Ohe, 16 Analyze Market Segment and Value Proposition using Attribute Map Basic Discriminating Energizing Nonnegotiable Differentiator Exciter Performs atleastas well as competitors Performs better than competitors where it counts Performs better than comptitors Tolerable Dissatisfier Enrager Performs no worse than competitors Performs belowthe level of competitors Mustbe corrected at anycost (to capitalsize on competitors's negatives) So What Parallel Does notaffectthe purchasing decision in a meaningful way Influences segment attitudes butis not directlyrelated to productor service performance NeutralPositiveNegative
  17. 17. 5W1H Analysis JOB, Value proposition、Customer Segmentation、 Channel • Answer 5W1H questions: who, where, who, when, what, why, how?“ • A busy person enjoys delicious coffee prepared easily by himself while relaxing on the sofa deeply at home.“ • References: Clayton M. Christensen etc. , Competing Against Luck, Harbor Collins Publication, 2017
  18. 18. Strength and Weakness Analysis Partner、Main Activities、Main Resources、Channel •STRENGTH •WEAKNESS
  19. 19. 2019/10/31 (C) Dr. Takeru Ohe 19 Consumption Chain Analysis Partners, Main Activities, Key Resources, Channels Awareness of need Search Selection Ordering/ Purchasing Paying Receiving Installing Storing & moving Using Repairs & Returns Servicing Final Disposal Financing Reference: Market Busters, Rita Gunther McGrath and Ian C. MacMillan, Harvard Business School Press,2005
  20. 20. Festival Learning opportunity Member card “Bible like text” Contribution Opportunity Bond Creation Bond Analysis Customer Relationship Five elements to vitalize the community 2019/10/31 (C) 実験経営学研究所 大江建 20
  21. 21. Bond Analysis Customer Relationship Merits of successful relation • Nomination • Improvement customer outflow • Increase feedback rate and close rate • Increase purchase per customer • Selling without discounts • No complaints • Able to take a vacation • More referrals and strong word of mouth • You will know what to offer next (development, purchase)
  22. 22. Business Model Canvas Can you continue the business? • How to earn profits: Clarify sources of income and costs (Reverse Income Statement) • To sell goods and services to customers is not the “end” of selling, but the “beginning” of a relationship that continues after selling. • What you can make customer to purchase your products/service again, or customer to give a good review? You need a customer relationship strategy “Kizuna.”
  23. 23. Reverse Income Statement Analysis Revenue Flow and Cost Structure Items Amont (100 Million Yen) Required profit 1 Profit rate 20% Revenue 5 Expense/cost 4 Required market share 20% Market size 25 Return of asset 20% Asset 5 2019/10/31 (C) 実験経営学研究所 大江建 23
  24. 24. Management of Assumptions Guideline 2019/10/31 (C) 実験経営学研究所 大江建 24
  25. 25. Make a verification plan and bring the business model closer to start-up • All elements drawn on BMC are hypotheses. • Which is the most important hypothesis • When to verify, • How to verify • It is necessary to conduct verification in a fast, effective and reasonable way. • Create and execute a hypothesis verification plan. 2019/10/31 (C) 実験経営学研究所 大江建 25
  26. 26. What you should verify first? “Who will buy and why they will purchase” • Validate customer value hypotheses and customer segment hypotheses • Questions to ask potential customers • What is the reason customers purchase products/services? What is the Job of the customers? • Is the product/service offering a solution for the reason for purchase? • Does the product/service improve in what customers want to achieve? • Are customers aware of the problem that the proposed product/service solves? • Why do they select your product/service among alternatives?(C) 実験経営学研究所 大江建 2019/10/31 26
  27. 27. Assumption Test Card Item Explantation 1 Assumption 2 Judging standard 3 Verification method 4 Verification result 5 Judgement 6 Period and cost of verification 7 Next step 2019/10/31 (C) 実験経営学研究所 大江建 27 Resource: Value Proposition Design, Osterwalder, A. & etc., Wiley (2014)
  28. 28. Assumption Test Card Example Item Note 1 Assumption Eat crackers made by cricket powder 2 Judging standard 60% of people is willing to eat 3 Verification method Visit three gyms, and ask 40 people at each gym (20 male and 20 female) 4 Verification result 75% of people are willing to eat the cricket cracker 5 Judgement Men and women interested in strengthening muscles are prime target 6 Period and cost of verification One month, 30,000 yen for gift 7 Next step Sample test 2019/10/31 (C) 実験経営学研究所 大江建 28 Resource: Value Proposition Design, Osterwalder, A. & etc., Wiley (2014)
  29. 29. BMC Draw NESPRESSO Business Model on BMC Exercise︓Drawing Business Model on BMC 2019/10/31 (C) 実験経営学研究所 大江建 29