Top 12 Reasons Startups Fail
What it’s all about?
o Getting customer feedback before finishing
building & launching your product
o Launching products that customers actually
want, more quickly & cheaply
o An approach that favors:
o Customer feedback over intuition
o Experimentation over elaborate planning
o Iterative design over sequential design
What are we looking for?
o Multidisciplinary teams of 2 or more
o In love with a problem & an idea for a solution
o Looking to learn
o Seeking customer input
o Capable of building & executing
o Looking to build a business
o Graduating within next 1.5 years
o Prefer STEM teams w 1+ female founder
o All in!
Customer & Business
that people are
Begins to build
The Business Model Canvas
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Designed by: Date: Version:Designed for:
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
is your business more
Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)
Fixed Costs (salaries, rents, utilities)
Economies of scale
Economies of scope
Through which Channels do our Customer Segments
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efﬁcient?
How are we integrating them with customer routines?
How do we raise awareness about our company’s products and services?
How do we help customers evaluate our organization’s Value Proposition?
How do we allow customers to purchase speciﬁc products and services?
How do we deliver a Value Proposition to customers?
5. After sales
How do we provide post-purchase customer support?
For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
For whom are we creating value?
Who are our most important customers?
What type of relationship does each of our Customer
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
Dedicated Personal Assistance
What Key Activities do our Value Propositions require?
Our Distribution Channels?
What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
types of resources
Intellectual (brand patents, copyrights, data)
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
motivations for partnerships
Optimization and economy
Reduction of risk and uncertainty
Acquisition of particular resources and activities
What value do we deliver to the customer?
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we
offering to each Customer Segment?
Which customer needs are we satisfying?
“Getting the Job Done”
Product feature dependent
The Business Model Canvas
More than half of
During J-Sprint you will…
o Establish your hypotheses for your business
o Test hypotheses by talking to 50+ customers
o Run experiments & prototype solutions
o Dive deep into each aspect of the business model
o Present every other day to program advisors and other
teams about who you spoke to, what you learned
o Get feedback to help you continue to move your
Application Process & Timing
o Attend the Team Hunt | Nov 10, noon-2pm
o Online applications due | Nov 20 by 5pm
o Interviews (~20 teams) | Nov 21 – Dec 1
o Selected teams announced | December 4
o Program dates | January 8–19
o Learn a ton about how to launch a venture….
o …Greatly increasing your likelihood of success
o …Make starting a company less risky!
o Meet advisors & entrepreneurs who will support
you this semester & beyond
o Become part of a great community
o A little free money to get you started doesn’t hurt
“Listen to what people tell you
especially if someone tells you the
same thing twice. This caused us to
take a step back and resulted us in
changing our business model.”
“The raw and sometimes brutal feedback
from customers not only helps you dig
deeper but tests your passion for what
you do because you have to constantly
stop yourself from wanting to interrupt
to pitch in your 2-cents.”
“A good mentor doesn't TELL you that your
idea is a horrible idea - they ask the right
questions and guide in the direction to
prove to you WHY your idea is horrible.”
Success starts with understanding
with Frank Rimalovski
illustrations by Tom Fishburne
and foreword by Steve Blank
16 Washington Place