This document provides an agenda and summary for an entrepreneurship class. It includes: - A Q&A session on the Business Model Canvas and customer discovery process. - A discussion of different market types and how to determine market size. - Presentations from student teams on their projects. - An overview of defining and testing the value proposition, including how to specify the product or service, identify the minimum viable product, and use the Value Proposition Canvas tool. - Details on customer interviews and experiments students should complete before the next class to learn about and validate their proposed value propositions.

1. LLP@Tecnico
Class 2
Luis Caldas de Oliveira

2. Agenda for Class 2
• Q&A about Business Model Canvas and
Customer Discovery
• Market Types and Market Sizes
• Team Presentations
• Summary about Value Proposition
• Work for Next Week

3. LLP@Tecnico How-To
Workshops
• How to do customer development (class3)
• How to prototype (class5)
• How to acquire customers (class7)

4. Q&A BUSINESS MODEL CANVAS &
CUSTOMER DISCOVERY

5. Common BMC Errors
• More customer segments than a Fortune
100 company
• “End users” as customer segments
• Value proposition/customer segment
mismatch
• Forget to search for a repeatable and
scalable business model

6. Market Types
• Clone Market (copy of an existing business
model)
• Existing Market (faster, better/high-end)
• Resegmented Market (niche, cheaper/low-
end)
• New Market (good enough, innovative)

8. Market Size
• TAM – Total Available Market
• SAM – Served Available Market
• SOM – Served Obtainable Market
• Year1-3 – Target Market
http://www.slideshare.net/sblank/nsf-lecture-1-
bus-model-cust-dev/207

9. TEAM PRESENTATIONS

11. VALUE PROPOSITION

12. Step 1: Specification
• Product or service?

13. Common Mistakes
• Is it just a feature of someone elses
product?
• Is it a “nice to have” product?
• Is it a “got to have” product?
• Can it scale to a company?

14. Product
• Problem statement: what is the
problem?
• Technology/Market Insight: why is
this problem hard to solve?
• Market size: how big is this problem?
• Competition: what customers do today?
• Product: how to do it?

15. Step 2: What is the
MVP
• Test your understanding of the problem
• Test your understanding of the solution
• Avoid building products nobody wants

16. Test the MVP
• Landing pages
• Prototypes
• Interviews
• Surveys

17. Value Proposition
Canvas
http://businessmodelalchemist.com/blog/2012/08/achieve-product-
market-fit-with-our-brand-new-value-proposition-designer.html

18. VPC - Customer
Segments
• Customer jobs – what he wants to get
done
• Customer pains – undesired costs
• Customer gains – expected benefits

19. VPC – Value
Proposition
• Products and services – list all offers
• Pain relievers – values creation
• Gain creators – benefits created

20. Value Proposition
Canvas

21. Step in Your
Customers’ Shoes

22. Rank Jobs, Pains and
Gains

23. Map Your Value
Proposition

24. Rank by Order of
Importance

25. NEXT WEEK

26. Presentation for Next
Class• Slide 1: Cover slide
• Slide 2: Business Model Canvas (changes marked in red,
different colors for multi-sided markets)
• Slide 3: Value Proposition Canvas (product/services, pain
relievers, gain creators, MVP)
• Slide 4: What were your experiments to test Value
Proposition
• Slide 5-n: What did you learn about Value Proposition
from the interviews (hypothesis, experiments, results,
action)

27. Before Next Class
• Talk to 10 customers about Value
Proposition
• Update LPC Narrative and Canvas
• Prepare Class Presentation
• Watch Lecture 3: Customer Segments

28. Obrigado