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Doing the
Right Thing
is the essence of
entrepreneurship
Universität St. Gallen, START 2016
Patrick Stähler, fluidminds – the business innovator
However, what is the
Right
Thing?
Have you found the Right
Thing?
Why should
your business
exist?
What do the colors mean?
Beyond optimization of the past
We have to
unlearn the past and
rethink our business
from the customer
perspective.
3
Is Kodak innovative?
What were the tacit
assumptions behind
Kodak’s innovations?
Take 5 min and discuss
it with your neighbors.
Take-aways are in red
Exercises and questions
for you
§  Dr. Patrick Stähler, Mr. Business
Model Innovation
§  Founder & Partner von
fluidminds GmbH, the business
innovator, Zürich & Sydney
§  fluidminds invents and designs
businesses
§  Example: Experteer.com (career
portal) was founded with the
help of fluidminds
§  »Inventor by chance« of the
business model innovation
concept during my Ph.D. at the
University of St. Gallen.
§  Blogger on Blog.business-
model-innovation, keynote
speaker worldwide.
Startups in the past
There was a need for new
products since we lived in a
world of scarcity.
The times they are a-changin’
Today, we live in a world of too-
much of everything. We have
everything 100 times.
A recipe for
successful
entrepreneurs
Follow the recipe and you will be
successful! 
Your success is
guaranteed! Guaranteed!
Sorry. There is no easy
recipe. Good entrepreneurs but the
customer in the middle of their
thoughts and the value they create for
customers..
Give Meaning
to customer is
the core to any good business
The reality: Nobody is waiting for you!
We have too much of
everything.
We have too much choice!
We get bombarded by ads and
PR!
500,000,000
182,500,000,000
How do you get heard in this noise of information?
Tweets per day
Tweets per year
Why should I listen to
you?
Why should I engage with
you?
Do you have something
relevant to say?
We have too
much of everything.
Be relevant for your
customers, also in
the long run!
1
The company invented
the digital camera in
1973 …
…was the partner of
choice for Apple to
enter the digital camera
market…
…invented an app so
you can seamlessly
print your pictures…
..so you can easily hold
your pictures in your
hand.
With digital printing, your
pictures can be printed on
anything.
Even prints of the size of
45m x 64m are possible…
Is Kodak innovative?
What were the tacit
assumptions behind
Kodak’s innovations?
Take 5 min and discuss
it with your neighbors.
Kodak was highly
innovative, but did not
understand that digital
is more than product
innovation
Digital was not about the
best quality that the
traditional customers of
Kodak loved
From keeping to
sharing memories –
Digital solves new
jobs for customers
Customers discovered
new uses, no sane
person would have
ever thought off
Too bad for Kodak that
now even professional
photographers love the
quality of digital
A good product is not enough
Bringing innovation
to the market is not
enough. Finding a
business model your
customers love is the
real challenge
2
How many
colors does a
rainbow have?
A rainbow has eternalcolors, but we reduce
complexity and draw arainbow with 5 or 6
colors
Depending from what
background you have,you interpret the sameinformation differently
You can’t read
it? Look from far
away. See it
now?
What is reality? You
can shape your and
your customers reality.
There is no reality in human systems
We see the
world through
our eyes and
interpret reality
3
What was one
of the most
successful aid
programs for
the developing
world?*
*Actually, it has nothing to do with governmental aid or NGOs.
Which innovation
expanded the
global market for
mobile communi-
cation the most?*
* After the invention of the mobile telephone system itself.
Dr. Patrick Stähler |
Which innovation madethis possible?
Prepaid
A small change in billingopened new markets inAfrica, Asia, Latin America,
Youths, etc..
There are so
many more starting
points for startups
than just innovative
products
4
„Wow, I have invented the future of
advertising. We do not need any videos
or pictures or even color anymore.
The future will be a text ad with maximal
95 characters.
It‘s brilliant, isn‘t it?
Would you havedared to saythis?
§  Instead of looking at better
products, Google Adwords
brought back relevance to
the ad industry
§  Google is blamed to be the
killer of newspapers
§  Sales around 43 bn. USD
Dr. Patrick Stähler |
1 device
Really good ideas
defy the accepted
rules of an industry.
Rethink from the
customer perspective
the business
5
Innovation is all about being
different
But if everybody is doing he
same, you have to find
something else
The best is if your customers
love your innovation due to
your fantastic value
proposition and and your
ability to deliver what you
promise
Where is your
wow? Why should
your business exist
from a customer
perspective?
Being just a bit
better is not enough.
You must have a clear
and noticable unique-
ness and magic.
That’s your WOW!
6
Customer job to be done
We have to learn to unlearn.
We have to learn to see
beyond the product and
understand what the customer
really wants.
Customer needs are to
imprecise. Let’s talk about
jobs-to-be-done.
Ready to
unlearn?
Do we need trucks
and truck drivers?
We need to move goods
around. Human driven
trucks are just one mean
to do this.
Do we need
accountants?
Actually, accountants are
just one mean to get our
books done, manage cash
or get expenses ready for
taxes.
Do we need taxis?
People want to move easily
and with convenience in
cities. Taxis are just one
mean to do it.
Do we need hotels?
Do we just need
a bed like at
Formule 1?
Or do we need a place
with lovely people in
order to connect to
the place like at
AirBnB?
Customer job to be done
We do not need a hotel. We
need an accommodation plus
extras like connecting to
people. That are the jobs-to-
be-done.
Customers hire a product or
service to get a job done. The
products are a means to an
end, not an end in themselves.
The value proposition
creates the value for
the customer, not the
product!
Value Proposition
The job-to-get-done is
solution neutral. The job is to
provide accommodation plus
extra benefits like connecting
to people.
Potential solution:
§  3* hotel
§  Formule 1 Hotel
§  AirBnB (accommodation
plus connection to people)
§  friend that lives in the city
It is of uttermost
importance to
understand the core
job we solve for our
customers
Start dreaming
from badly solved
jobs-to-be done of
your customers.
Use technology.
Innovate your business
model
7
Dr. Patrick Stähler | 68
Do you know this man?
Hans Rausing = Inventor of the
Tetra Pack Systems
He could have sold his
packaging machines, 
but…
But he sold packaged services Tetra Pack is not a
product innovation but
an implementation of an
innovative business model
product/technology value
creates
X
business strategy
enables
defines
business model
Technology or a new produt does not create value.
It is the business model
Beyond product innovation
Your business
model is decisive
for value creation,
not new technology
8
The
business
model
A
The business model is
the DNA of your
business
Are you
aware of yourDNA?
The business model
gives meaning to your
employees and
customers
4 elements of a successful business:
What excites
our
customers?
Value Proposition
PATRICK STÄHLER
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How do we
create value
for our
customers?
Value Architecture
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How do we
earn money?
Revenue Model
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Who is on our
team?
What values
do we
pursue?
Team  Values
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What industry
are we in? Who
are our
competitors? “
„
In which industry
are we in?“
„
Dr. Patrick Stähler |
That was the job
the customer
wanted to do.
“
„
product/services happy customers
creates
X
value proposition
solves
delivered by
business model
The customer perspective: A product does not create value. It is
the value proposition the customer loves
job-to-be-done
addressed
by
Value
Proposition
Customer
•  Who is our
customer?
•  What job do we
solve for them?
Value
•  What value do we
create for our
customers? What
value do we create
for our partners?
What excites our customer?
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Customer job to be done
Is it easy to put a
Christmas tree straight
up and keep it there
safely and green?
There was no big
market for Christmas
tree stands until Mr
Krinner saw the badly
solved job
Value
architecture
Offer
•  What is our offer?
Distribution 
Communication
Channels
•  How do we reach
our customers?
•  How do we
communicate with
our customers?
How do we create the value?
Value Chain
•  What activities do
we have to do to
produce our offer?
•  How does our
value chain look
like?
Partner
•  What partners do
we need?
Core Capabilities
•  What are the core
capabilities we
need?
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Architectural innovation
Customers have to transport
and assemble the furniture by
themselves, thereby saving
IKEA two expensive steps in
their value chain
Value Proposition
A new value proposition
beyond price and good design
is created: Instant satisfaction
without waiting for the later
delivery of the furniture
Revenue
Model
Cost Structure
•  Cost structure is
defined by your
value architecture.
Revenue Sources
•  With what do we
earn money?
How do we earn money?
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Revenue Model Innovation
Power-by-the-hour: Jet
engine maintenance paid
by the hours in service
Value Proposition
Airlines get variable costs
that depend on their
business success.
Team 
Values
Team
•  Who is in our
team?
•  What
competencies do
we have in our
team?
Values
•  What values do we
life in our team?
•  How do we
interact with each
other and with
customers?
Who is on our team? What values do we live?
HTIGE
EN
nternehmer
Customers
Who are our customers?
What job do we solve for our
customers?
Customer Benefit
What benefit do we create for our
customers?
What benefit do we create for our
partners?
Offer
What is our offer?
Value Chain
What are our value creating steps?
What is our value chain?
Core Capabilities
What are the core capabilities
we need?
Distribution  Communication
Channels
How do we reach our customers?
How do we communicate with
our customers?
Partner
Which partners do we need?
Questions for a Successful Business Model
Cost Structure
Cost structure is defined by the
value architecture.
Revenue Sources
With what do we earn money?
Team
Who is on our team?
What competencies do we have
on the team?
Values
What values do we pursue?
How do we interact with each other
and the customers?
Revenue Model
Team  Values
Value PropositionValue Architecture
PATRICK STÄHLER
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Customers
Who are our customers?
What job do we solve for our
customers?
Customer Benefit
What benefit do we create for our
customers?
What benefit do we create for our
partners?
Offer
What is our offer?
Value Chain
What are our value creating steps?
What is our value chain?
Core Capabilities
What are the core capabilities
we need?
Distribution  Communication
Channels
How do we reach our customers?
How do we communicate with
our customers?
Partner
Which partners do we need?
Questions for a Successful Business Model
Cost Structure
Cost structure is defined by the
value architecture.
Revenue Sources
With what do we earn money?
Team
Who is on our team?
What competencies do we have
on the team?
Values
What values do we pursue?
How do we interact with each other
and the customers?
Revenue Model
Team  Values
Value PropositionValue Architecture
PATRICK STÄHLER
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PATRICK STÄHLER
AS RICHTIGE
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kzeugkasten für Unternehmer
Geberit – a product innovator or is there more?
From plumber supply to under-the-wall systems for baths
Customer job to be done
Geberit understood that
the badly solved job in the
sanitary industry was, how
fast a bath room can be
renovated. With Geberit’s
products you can renovate
bathrooms faster and in
better quality. And they
understood that plumbers
are their core sales
channel.
Geberit is the
master in
understanding how
to build and use
bathrooms.
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
Why homeowners love Geberit?
•  Architects
•  Plumbers
•  Homeowners
Job-to-be done:
•  Get my bathroom renovated very
well (design  quality) with as little
hassle as possible
•  Faster and more convenient
renovation of baths
•  Actually, it needs a lot of initiative
not to get Geberit (Plumbers offer
only Geberit)
•  Installation systems are more expensive
than pure toilette tanks
•  Willingness of homeowners to pay more is
higher due to the benefits speed  design
•  Deep understanding how baths
are renovated  used
•  Understanding how homeowners
decide to procure sanitary
equipment
•  Plumbers are the sales channel
•  Architects are used for direct
communication with homeowner
•  Plumbers, Engineers, Marketeers
•  Diverse team
•  high quality
•  long lasting products
•  looking for better solution. Always!
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PATRICK STÄHLER
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Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
Why plumbers love Geberit?
•  Plumbers
Job-to-be done:
•  Have little hassle as possible with
a customer job and still earn a
high margin
•  Easy to plan, order, prefabricate
and install all components
•  All components from one
supplier
•  Satisfied homeowners that pay
a higher price
•  New products for upselling
•  All these tools for plumbers cost
money
•  Geberit earns money via end customers
•  Some income for trainings
•  Deep understanding how
plumbers work and think
about their business
•  Training know-how
•  Partner  eco system mgm’t
•  Plumbers are reached with
direct sales, classical
marketing
•  via training
•  trade schools
(Handwerkerkammern)
•  Planning tools (CAD, product
handbook)
•  integrated logistics
•  trainings, material, certificates
•  long-term thinking, willingness to invest
long-term in relationship with plumbers
•  innovative solutions
•  Plumbers, Engineers, Marketeers
•  Diverse team
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The Hotel Exercise
Innovate the hotel industry and
design a hotel. Chose from the
following hotel segments
•  Hotel in City
•  Holiday resort
•  Hotel for Seminars
The
design
process
B
1
Customer Insight
-  Observe your customers
What job is not yet or
badly solved?
-  How does the Customer
Experience Cycle look
like?
-  On what customer insights
is your idea based?
-  validate customer insight
2
Understand
-  understand the current
solutions and their
strength  weakness
-  understand how the
potential customer
thinks and decides
-  understand the market 
market mechanism
3
Ideate
Develop as many ideas as
possible in the area of
-  customers/ value
proposition
-  value architecture
-  revenue model
4
Design
-  decide for three or four
options
-  design the business
models for the options
-  check the
interdependencies in the
business models
-  work on the uniqueness
(positioning)
-  optimize the building
blocks
5
Decide  Prototype
-  decide for the best
model to go for
-  build prototype
-  test prototype with
customers
-  write business case
-  decide again or work on
different option
6
Build  Learn
-  execute business model
-  learn continuously from
customer feedback and
control KPIs
-  adjust and refine
continuously the
business model
Point of View
Designing is a process of opening your mind
and focusing at the end
1
Customer
Insight
3
Ideate
2
Understand
4
Design
5
Decide 
Prototype
6
Build  Learn
Design Thinking Process
The right culture  valuesMultidisciplinary Teams
1
Customer Insight
-  Observe your customers
What job is not yet or
badly solved?
-  How does the Customer
Experience Cycle look
like?
-  On what customer insights
is your idea based?
-  validate customer insight
2
Understand
-  understand the current
solutions and their
strength  weakness
-  understand how the
potential customer
thinks and decides
-  understand the market 
market mechanism
3
Ideate
Develop as many ideas as
possible in the area of
-  customers/ value
proposition
-  value architecture
-  revenue model
4
Design
-  decide for three or four
options
-  design the business
models for the options
-  check the
interdependencies in the
business models
-  work on the uniqueness
(positioning)
-  optimize the building
blocks
5
Decide  Prototype
-  decide for the best
model to go for
-  build prototype
-  test prototype with
customers
-  write business case
-  decide again or work on
different option
6
Build  Learn
-  execute business model
-  learn continuously from
customer feedback and
control KPIs
-  adjust and refine
continuously the
business model
Business Model Canvas
Tools for Entrepreneurial Design
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture Use the canvas to
develop your business
model
1
Customer Insight
-  Observe your customers
What job is not yet or
badly solved?
-  How does the Customer
Experience Cycle look
like?
-  On what customer insights
is your idea based?
-  validate customer insight
Where do we get a Value
Innovation from? Let‘s find
new customer insights as a
starting point
Business model
innovation
New value
proposition
Customers’
insight
Please make a typical
hand movement to
show how you opend
this sugar sachet
Customer Insights
Do you want fast
delivery of the goods
you order online?
Is asking customers
the right approach?
Customer Insights
Is faster really better? Or
was this already the wrong
question.
What would be the right
question to figure out the
importance of time in the
delivery process?
Is asking customers
the right approach?
Customers
Who are our customers?
What job do we solve for our
customers?
Value Proposition
The best way is to
start with the job
we solve for our
customers?
Werkzeu
Don’t ask
your customers.
Observe their
jobs-to-be-done
9
Customer job to be done
Is it easy to fix a fence
to the ground?
There was no market
for temporary fixing
something to the
ground before Krinner
invented it.
Many customers have the job-to-be-
done to fix something to the
ground. Once Krinner provided a
solution many new application were
found
Buy
Delivery/
Assembly
Usage
Comple-
ments
Service Disposal
How can we find systematically new customer insights?
§  Understand how the customers are
buying, using and disposing the
product
§  Understand the whole lifecycle of
customers‘ utility
Source: cp. Kim,W.C., Mauborgne, R., Knowing a Winning Business Idea when
you see one, HBR Sep-Oct. 2000
Customer Experience Map
§  How can we improve the buyer‘s utility cycle?
§  Can we do more for the customer?
§  Can we leave something to the customer?
Unsolved job-to-be-done
What is the biggest hassle
with vacuum cleaning?
Where can I start in the buyer utility map? – 
The Dyson Vacuum Cleaner
DisposalServiceComplementsUseDeliveryBuy
Customer
Productivity
Simplicity
Usability
Risk
Image 
fun
Enviromental
friendlyness
++
Starting
Points
Dyson = value
innovation
Dyson vacuum cleaner – inspired by technology
The vacuum cleaner for men
Customer Insights
§  Bags and filters get clogged and restrict
airflow. Loss of suction
§  Vacuum cleaners are marketed as
household aids.Are there different
segments?
Value Proposition for customers
§  Dyson vacuum cleaners have NO bags
and do NOT get clogged due Cyclone
technology.Therefore, NO loss of
suction.
§  Dyson positions itself as technical, highly
engineered products that address men.
Revenue Model
§  Dyson demands premium prices for its
vacuum cleaners.
Dyson =
Value Innovation
Unsolved job-to-be-done
What is the biggest hassle
with socks?
Blacksocks – we save the world from socks problems
Disposal
Putting
in pairs
WashingUseDeliveryBuy
Customer
Productivity
Simplicity
Usability
Risk
Image 
fun
Enviromental
friendlyness
Starting
Points
Blacksocks – We solve the world from its
socks problems
10'000
12'000
25'000
40'000
0
10'000
20'000
30'000
40'000
2001 2002 2005 2008
Socks subscription
(2001-2008) Customer Insights
§  Buying socks is no fun
§  Putting socks in pairs even less fun
§  Good socks are a sign of „Being well
dressed“
Value Proposition
§  Blacksocks subscription solves all
problems
§  Always enough new socks
§  No pairing needed since all socks are
identical
Revenue Model
§  Upfront payment
§  Easy planning and negative working
capital
Blacksocks =
revenue model
innovation
20% market share
in Switzerland*
* premium segment starting at 9CHF
Customer job to be done
I want a very special place
to stay, at a good price,
and want get local insights
where to go out, to eat
and to shop.
Of course, I want to know
if I can trust the person I
stay with.
AirBnB opened a whole new
segment of offers to the
individualistic traveler of
today
Even more individual choice
for the traveler who looks
for the special place to stay
AND connect to the people
of the place he visits:
AirBnB
Easy to book, transparent
pricing: AirBnB
Building trust by very
personal reviews (peer-to-
peer social control
mechanism plus insurance
coverage)
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
•  Website, App to connect
BBs with customers •  word-of-mouth
•  sales crew for BnB
owners
•  running site  acquisition costs of
BnBs (PH)
•  asset light
•  Acquisition of BnB places
•  Quality  Trust Mgmt
•  Know-how of locations
•  Customers pay BnB owner
•  Takes services fees from the rent the
households get (app. 15%)
•  Customer (C) looking
for special place to
stay
•  Private households
(PH) who offer BnB
•  PH: Income and international
contacts for BnB owners
•  C: places to stay that are
outside the norm
•  Contacts with locals
•  n/a
•  n./a.
Travel like a human
Build up
BnB
offer
Help find
right
spot
Match
needs 
offer
Payment
 GTC
Reputation
 Trust
Mgmt
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
•  Customer (Travelers)
Job-to-be-done
•  Finding a special place to
stay
•  Getting to know the
hidden gems of destination
•  Offer very special places that
cannot booked anywhere else
•  Connect with locals that share
their insights
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
•  Households that offer BnB
Job-to-be-done
•  Earning money
•  Have the world at home
•  Refinancing rent
•  Trust provided by platform
•  Risk of damage is insured
•  Connecting with people from
abroad
Why do customers like airbnB?
PATRICK STÄHLER
DAS RICHTIGE
GRÜNDEN
Werkzeugkasten für Unternehmer
3
PATRICK STÄHLER
DAS RICHTIGE
GRÜNDEN
erkzeugkasten für Unternehmer
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture
•  Website, App to connect
BBs with customers •  word-of-mouth
•  sales crew for BnB
owners
•  running site  acquisition costs of BnBs (PH)
•  asset light
•  Acquisition of BnB places
•  Quality  Trust Mgmt
•  Know-how of locations
•  Customers pay BnB owner
•  Takes services fees from the rent the
households get (app. 15%)
•  Customer (C) looking
for special place to
stay
•  Private households
(PH) who offer BnB
•  C: places to stay that are
outside the norm
•  Contacts with locals
•  PH: Income and international
contacts for BnB owners
•  n/a
•  n./a.
Build up
BnB
offer
Help find
right
spot
Match
needs 
offer
Payment
 GTC
Reputation
 Trust
Mgmt
Asset light business model
You do not need to own
a place to provide
awesome locations
PATRICK STÄHLER
DAS RICHTIGE
GRÜNDEN
Werkzeugkasten für Unternehmer
3
PATRICK STÄHLER
DAS RICHTIGE
GRÜNDEN
erkzeugkasten für Unternehmer
2
Understand
-  understand the current
solutions and their
strength  weakness
-  understand how the
potential customer thinks
and decides
-  understand the market 
market mechanism
Your point-of-view why
you must exist:
...............................................
...............................................
...............................................
...............................................
...............................................
You must have
a clear point of
view why your
business should
exist
10
3
Ideate
Develop as many ideas as
possible in the area of
-  customers/ value
proposition
-  value architecture
-  revenue model
Think in options.
Your current idea is
not the only valid one.
There are better ones.
Search for them.
Iterate
11
4
Design
-  decide for three or four
options
-  design the business
models for the options
-  check the
interdependencies in the
business models
-  work on the uniqueness
(positioning)
-  optimize the building
blocks
Customers
Customer Benefit
Offer
Value Chain
Core Capabilities
Distribution  Communication
Channels
Partner
Business Model:
Cost Structure Revenue Sources
Team Values
Revenue Model
Team  Values
Value PropositionValue Architecture Use the canvas to
develop your business
model
5
Decide  Prototype
-  decide for the best model
to go for
-  build prototype
-  test prototype with
customers
-  write business case
-  decide again or work on
different option
Fast learning
what works with
rapid prototyping of
your minimal viable
business model is the
key to success
12
6
Build  Learn
-  execute business model
-  learn continuously from
customer feedback and
control KPIs
-  adjust and refine
continuously the business
model
Always question
your core
assumption and
adapt to real life.
Prototype fast.
Learn fast
13
1
Customer Insight
-  Observe your customers
What job is not yet or
badly solved?
-  How does the Customer
Experience Cycle look
like?
-  On what customer insights
is your idea based?
-  validate customer insight
2
Understand
-  understand the current
solutions and their
strength  weakness
-  understand how the
potential customer
thinks and decides
-  understand the market 
market mechanism
3
Ideate
Develop as many ideas as
possible in the area of
-  customers/ value
proposition
-  value architecture
-  revenue model
4
Design
-  decide for three or four
options
-  design the business
models for the options
-  check the
interdependencies in the
business models
-  work on the uniqueness
(positioning)
-  optimize the building
blocks
5
Decide  Prototype
-  decide for the best
model to go for
-  build prototype
-  test prototype with
customers
-  write business case
-  decide again or work on
different option
6
Build  Learn
-  execute business model
-  learn continuously from
customer feedback and
control KPIs
-  adjust and refine
continuously the
business model
1
Customer Insight
-  Observe your customers
What job is not yet or
badly solved?
-  How does the Customer
Experience Cycle look
like?
-  On what customer insights
is your idea based?
-  validate customer insight
2
Understand
-  understand the current
solutions and their
strength  weakness
-  understand how the
potential customer
thinks and decides
-  understand the market 
market mechanism
3
Ideate
Develop as many ideas as
possible in the area of
-  customers/ value
proposition
-  value architecture
-  revenue model
4
Design
-  decide for three or four
options
-  design the business
models for the options
-  check the
interdependencies in the
business models
-  work on the uniqueness
(positioning)
-  optimize the building
blocks
5
Decide  Prototype
-  decide for the best
model to go for
-  build prototype
-  test prototype with
customers
-  write business case
-  decide again or work on
different option
6
Build  Learn
-  execute business model
-  learn continuously from
customer feedback and
control KPIs
-  adjust and refine
continuously the
business model
Every startup is aniterative process withfast learnings andmany pivots
Entreprenurship
is eternal learning
what the customer
really wants and
what works and
what not
14
What is a good strategy for startups?
Differen-
tiation
Trend
Build on
strengths
Focus
It’s about finding the
right trend to surf!
Be different and be loved by
your customers!
„Scary to be this nail.Where
will the hammer hit next
time?“
Dr. Patrick Stähler | 142
Doing is
the essence of
entrepreneurship
JUST DO IT.
More Information on
http://blog.business-model-innovation.com
Dr. oec. Patrick Stähler
fluidminds GmbH
Kreuzstrasse 2
CH-8008 Zürich
Patrick.Staehler@fluidminds.ch
www.fluidminds.ch
blog.business-model-innovation.com
@business_inno

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14 Tips to Entrepreneurs to start the Right Stuff

  • 1. Doing the Right Thing is the essence of entrepreneurship Universität St. Gallen, START 2016 Patrick Stähler, fluidminds – the business innovator
  • 2. However, what is the Right Thing?
  • 3. Have you found the Right Thing? Why should your business exist?
  • 4. What do the colors mean? Beyond optimization of the past We have to unlearn the past and rethink our business from the customer perspective. 3 Is Kodak innovative? What were the tacit assumptions behind Kodak’s innovations? Take 5 min and discuss it with your neighbors. Take-aways are in red Exercises and questions for you
  • 5. §  Dr. Patrick Stähler, Mr. Business Model Innovation §  Founder & Partner von fluidminds GmbH, the business innovator, Zürich & Sydney §  fluidminds invents and designs businesses §  Example: Experteer.com (career portal) was founded with the help of fluidminds §  »Inventor by chance« of the business model innovation concept during my Ph.D. at the University of St. Gallen. §  Blogger on Blog.business- model-innovation, keynote speaker worldwide.
  • 6. Startups in the past There was a need for new products since we lived in a world of scarcity.
  • 7. The times they are a-changin’ Today, we live in a world of too- much of everything. We have everything 100 times.
  • 8. A recipe for successful entrepreneurs Follow the recipe and you will be successful! Your success is guaranteed! Guaranteed!
  • 9. Sorry. There is no easy recipe. Good entrepreneurs but the customer in the middle of their thoughts and the value they create for customers.. Give Meaning to customer is the core to any good business
  • 10. The reality: Nobody is waiting for you! We have too much of everything. We have too much choice! We get bombarded by ads and PR!
  • 11. 500,000,000 182,500,000,000 How do you get heard in this noise of information? Tweets per day Tweets per year
  • 12. Why should I listen to you? Why should I engage with you? Do you have something relevant to say?
  • 13. We have too much of everything. Be relevant for your customers, also in the long run! 1
  • 14. The company invented the digital camera in 1973 …
  • 15. …was the partner of choice for Apple to enter the digital camera market…
  • 16. …invented an app so you can seamlessly print your pictures…
  • 17. ..so you can easily hold your pictures in your hand.
  • 18. With digital printing, your pictures can be printed on anything.
  • 19. Even prints of the size of 45m x 64m are possible…
  • 20. Is Kodak innovative? What were the tacit assumptions behind Kodak’s innovations? Take 5 min and discuss it with your neighbors.
  • 21. Kodak was highly innovative, but did not understand that digital is more than product innovation
  • 22. Digital was not about the best quality that the traditional customers of Kodak loved
  • 23. From keeping to sharing memories – Digital solves new jobs for customers
  • 24. Customers discovered new uses, no sane person would have ever thought off
  • 25. Too bad for Kodak that now even professional photographers love the quality of digital
  • 26. A good product is not enough Bringing innovation to the market is not enough. Finding a business model your customers love is the real challenge 2
  • 27. How many colors does a rainbow have?
  • 28.
  • 29. A rainbow has eternalcolors, but we reduce complexity and draw arainbow with 5 or 6 colors
  • 30.
  • 31.
  • 32.
  • 33.
  • 34. Depending from what background you have,you interpret the sameinformation differently
  • 35. You can’t read it? Look from far away. See it now?
  • 36.
  • 37.
  • 38. What is reality? You can shape your and your customers reality.
  • 39. There is no reality in human systems We see the world through our eyes and interpret reality 3
  • 40. What was one of the most successful aid programs for the developing world?* *Actually, it has nothing to do with governmental aid or NGOs.
  • 41. Which innovation expanded the global market for mobile communi- cation the most?* * After the invention of the mobile telephone system itself.
  • 42. Dr. Patrick Stähler | Which innovation madethis possible?
  • 43. Prepaid A small change in billingopened new markets inAfrica, Asia, Latin America, Youths, etc..
  • 44. There are so many more starting points for startups than just innovative products 4
  • 45. „Wow, I have invented the future of advertising. We do not need any videos or pictures or even color anymore. The future will be a text ad with maximal 95 characters. It‘s brilliant, isn‘t it? Would you havedared to saythis?
  • 46. §  Instead of looking at better products, Google Adwords brought back relevance to the ad industry §  Google is blamed to be the killer of newspapers §  Sales around 43 bn. USD
  • 49. Really good ideas defy the accepted rules of an industry. Rethink from the customer perspective the business 5
  • 50. Innovation is all about being different
  • 51. But if everybody is doing he same, you have to find something else
  • 52. The best is if your customers love your innovation due to your fantastic value proposition and and your ability to deliver what you promise
  • 53. Where is your wow? Why should your business exist from a customer perspective?
  • 54. Being just a bit better is not enough. You must have a clear and noticable unique- ness and magic. That’s your WOW! 6
  • 55. Customer job to be done We have to learn to unlearn. We have to learn to see beyond the product and understand what the customer really wants. Customer needs are to imprecise. Let’s talk about jobs-to-be-done. Ready to unlearn?
  • 56. Do we need trucks and truck drivers?
  • 57. We need to move goods around. Human driven trucks are just one mean to do this.
  • 59. Actually, accountants are just one mean to get our books done, manage cash or get expenses ready for taxes.
  • 60. Do we need taxis?
  • 61. People want to move easily and with convenience in cities. Taxis are just one mean to do it.
  • 62. Do we need hotels?
  • 63. Do we just need a bed like at Formule 1?
  • 64. Or do we need a place with lovely people in order to connect to the place like at AirBnB?
  • 65. Customer job to be done We do not need a hotel. We need an accommodation plus extras like connecting to people. That are the jobs-to- be-done. Customers hire a product or service to get a job done. The products are a means to an end, not an end in themselves. The value proposition creates the value for the customer, not the product!
  • 66. Value Proposition The job-to-get-done is solution neutral. The job is to provide accommodation plus extra benefits like connecting to people. Potential solution: §  3* hotel §  Formule 1 Hotel §  AirBnB (accommodation plus connection to people) §  friend that lives in the city It is of uttermost importance to understand the core job we solve for our customers
  • 67. Start dreaming from badly solved jobs-to-be done of your customers. Use technology. Innovate your business model 7
  • 68. Dr. Patrick Stähler | 68 Do you know this man? Hans Rausing = Inventor of the Tetra Pack Systems
  • 69. He could have sold his packaging machines, but…
  • 70. But he sold packaged services Tetra Pack is not a product innovation but an implementation of an innovative business model
  • 71. product/technology value creates X business strategy enables defines business model Technology or a new produt does not create value. It is the business model
  • 72. Beyond product innovation Your business model is decisive for value creation, not new technology 8
  • 74. The business model is the DNA of your business Are you aware of yourDNA?
  • 75. The business model gives meaning to your employees and customers
  • 76. 4 elements of a successful business: What excites our customers? Value Proposition PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer How do we create value for our customers? Value Architecture PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer How do we earn money? Revenue Model PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer Who is on our team? What values do we pursue? Team Values PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer
  • 77. What industry are we in? Who are our competitors? “ „
  • 78. In which industry are we in?“ „
  • 79. Dr. Patrick Stähler | That was the job the customer wanted to do. “ „
  • 80. product/services happy customers creates X value proposition solves delivered by business model The customer perspective: A product does not create value. It is the value proposition the customer loves job-to-be-done addressed by
  • 81. Value Proposition Customer •  Who is our customer? •  What job do we solve for them? Value •  What value do we create for our customers? What value do we create for our partners? What excites our customer? DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer
  • 82. Customer job to be done Is it easy to put a Christmas tree straight up and keep it there safely and green?
  • 83. There was no big market for Christmas tree stands until Mr Krinner saw the badly solved job
  • 84. Value architecture Offer •  What is our offer? Distribution Communication Channels •  How do we reach our customers? •  How do we communicate with our customers? How do we create the value? Value Chain •  What activities do we have to do to produce our offer? •  How does our value chain look like? Partner •  What partners do we need? Core Capabilities •  What are the core capabilities we need? S RICHTIGE RÜNDEN ugkasten für Unternehmer
  • 85. Architectural innovation Customers have to transport and assemble the furniture by themselves, thereby saving IKEA two expensive steps in their value chain Value Proposition A new value proposition beyond price and good design is created: Instant satisfaction without waiting for the later delivery of the furniture
  • 86. Revenue Model Cost Structure •  Cost structure is defined by your value architecture. Revenue Sources •  With what do we earn money? How do we earn money? ICHTIGE ÜNDEN en für Unternehmer
  • 87. Revenue Model Innovation Power-by-the-hour: Jet engine maintenance paid by the hours in service Value Proposition Airlines get variable costs that depend on their business success.
  • 88. Team Values Team •  Who is in our team? •  What competencies do we have in our team? Values •  What values do we life in our team? •  How do we interact with each other and with customers? Who is on our team? What values do we live? HTIGE EN nternehmer
  • 89.
  • 90. Customers Who are our customers? What job do we solve for our customers? Customer Benefit What benefit do we create for our customers? What benefit do we create for our partners? Offer What is our offer? Value Chain What are our value creating steps? What is our value chain? Core Capabilities What are the core capabilities we need? Distribution Communication Channels How do we reach our customers? How do we communicate with our customers? Partner Which partners do we need? Questions for a Successful Business Model Cost Structure Cost structure is defined by the value architecture. Revenue Sources With what do we earn money? Team Who is on our team? What competencies do we have on the team? Values What values do we pursue? How do we interact with each other and the customers? Revenue Model Team Values Value PropositionValue Architecture PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER AS RICHTIGE GRÜNDEN kzeugkasten für Unternehmer
  • 91. Customers Who are our customers? What job do we solve for our customers? Customer Benefit What benefit do we create for our customers? What benefit do we create for our partners? Offer What is our offer? Value Chain What are our value creating steps? What is our value chain? Core Capabilities What are the core capabilities we need? Distribution Communication Channels How do we reach our customers? How do we communicate with our customers? Partner Which partners do we need? Questions for a Successful Business Model Cost Structure Cost structure is defined by the value architecture. Revenue Sources With what do we earn money? Team Who is on our team? What competencies do we have on the team? Values What values do we pursue? How do we interact with each other and the customers? Revenue Model Team Values Value PropositionValue Architecture PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER AS RICHTIGE GRÜNDEN kzeugkasten für Unternehmer
  • 92. Geberit – a product innovator or is there more? From plumber supply to under-the-wall systems for baths
  • 93. Customer job to be done Geberit understood that the badly solved job in the sanitary industry was, how fast a bath room can be renovated. With Geberit’s products you can renovate bathrooms faster and in better quality. And they understood that plumbers are their core sales channel. Geberit is the master in understanding how to build and use bathrooms.
  • 94. Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Why homeowners love Geberit? •  Architects •  Plumbers •  Homeowners Job-to-be done: •  Get my bathroom renovated very well (design quality) with as little hassle as possible •  Faster and more convenient renovation of baths •  Actually, it needs a lot of initiative not to get Geberit (Plumbers offer only Geberit) •  Installation systems are more expensive than pure toilette tanks •  Willingness of homeowners to pay more is higher due to the benefits speed design •  Deep understanding how baths are renovated used •  Understanding how homeowners decide to procure sanitary equipment •  Plumbers are the sales channel •  Architects are used for direct communication with homeowner •  Plumbers, Engineers, Marketeers •  Diverse team •  high quality •  long lasting products •  looking for better solution. Always! PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER DAS RICHTIGE GRÜNDEN erkzeugkasten für Unternehmer
  • 95. Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Why plumbers love Geberit? •  Plumbers Job-to-be done: •  Have little hassle as possible with a customer job and still earn a high margin •  Easy to plan, order, prefabricate and install all components •  All components from one supplier •  Satisfied homeowners that pay a higher price •  New products for upselling •  All these tools for plumbers cost money •  Geberit earns money via end customers •  Some income for trainings •  Deep understanding how plumbers work and think about their business •  Training know-how •  Partner eco system mgm’t •  Plumbers are reached with direct sales, classical marketing •  via training •  trade schools (Handwerkerkammern) •  Planning tools (CAD, product handbook) •  integrated logistics •  trainings, material, certificates •  long-term thinking, willingness to invest long-term in relationship with plumbers •  innovative solutions •  Plumbers, Engineers, Marketeers •  Diverse team PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER DAS RICHTIGE GRÜNDEN erkzeugkasten für Unternehmer
  • 96. The Hotel Exercise Innovate the hotel industry and design a hotel. Chose from the following hotel segments •  Hotel in City •  Holiday resort •  Hotel for Seminars
  • 98. 1 Customer Insight -  Observe your customers What job is not yet or badly solved? -  How does the Customer Experience Cycle look like? -  On what customer insights is your idea based? -  validate customer insight 2 Understand -  understand the current solutions and their strength weakness -  understand how the potential customer thinks and decides -  understand the market market mechanism 3 Ideate Develop as many ideas as possible in the area of -  customers/ value proposition -  value architecture -  revenue model 4 Design -  decide for three or four options -  design the business models for the options -  check the interdependencies in the business models -  work on the uniqueness (positioning) -  optimize the building blocks 5 Decide Prototype -  decide for the best model to go for -  build prototype -  test prototype with customers -  write business case -  decide again or work on different option 6 Build Learn -  execute business model -  learn continuously from customer feedback and control KPIs -  adjust and refine continuously the business model
  • 99. Point of View Designing is a process of opening your mind and focusing at the end 1 Customer Insight 3 Ideate 2 Understand 4 Design 5 Decide Prototype 6 Build Learn
  • 100. Design Thinking Process The right culture valuesMultidisciplinary Teams 1 Customer Insight -  Observe your customers What job is not yet or badly solved? -  How does the Customer Experience Cycle look like? -  On what customer insights is your idea based? -  validate customer insight 2 Understand -  understand the current solutions and their strength weakness -  understand how the potential customer thinks and decides -  understand the market market mechanism 3 Ideate Develop as many ideas as possible in the area of -  customers/ value proposition -  value architecture -  revenue model 4 Design -  decide for three or four options -  design the business models for the options -  check the interdependencies in the business models -  work on the uniqueness (positioning) -  optimize the building blocks 5 Decide Prototype -  decide for the best model to go for -  build prototype -  test prototype with customers -  write business case -  decide again or work on different option 6 Build Learn -  execute business model -  learn continuously from customer feedback and control KPIs -  adjust and refine continuously the business model Business Model Canvas Tools for Entrepreneurial Design Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Use the canvas to develop your business model
  • 101. 1 Customer Insight -  Observe your customers What job is not yet or badly solved? -  How does the Customer Experience Cycle look like? -  On what customer insights is your idea based? -  validate customer insight
  • 102. Where do we get a Value Innovation from? Let‘s find new customer insights as a starting point Business model innovation New value proposition Customers’ insight
  • 103. Please make a typical hand movement to show how you opend this sugar sachet
  • 104. Customer Insights Do you want fast delivery of the goods you order online? Is asking customers the right approach?
  • 105. Customer Insights Is faster really better? Or was this already the wrong question. What would be the right question to figure out the importance of time in the delivery process? Is asking customers the right approach?
  • 106. Customers Who are our customers? What job do we solve for our customers? Value Proposition The best way is to start with the job we solve for our customers? Werkzeu
  • 107. Don’t ask your customers. Observe their jobs-to-be-done 9
  • 108. Customer job to be done Is it easy to fix a fence to the ground?
  • 109. There was no market for temporary fixing something to the ground before Krinner invented it.
  • 110. Many customers have the job-to-be- done to fix something to the ground. Once Krinner provided a solution many new application were found
  • 111. Buy Delivery/ Assembly Usage Comple- ments Service Disposal How can we find systematically new customer insights? §  Understand how the customers are buying, using and disposing the product §  Understand the whole lifecycle of customers‘ utility Source: cp. Kim,W.C., Mauborgne, R., Knowing a Winning Business Idea when you see one, HBR Sep-Oct. 2000 Customer Experience Map §  How can we improve the buyer‘s utility cycle? §  Can we do more for the customer? §  Can we leave something to the customer?
  • 112. Unsolved job-to-be-done What is the biggest hassle with vacuum cleaning?
  • 113. Where can I start in the buyer utility map? – The Dyson Vacuum Cleaner DisposalServiceComplementsUseDeliveryBuy Customer Productivity Simplicity Usability Risk Image fun Enviromental friendlyness ++ Starting Points Dyson = value innovation
  • 114. Dyson vacuum cleaner – inspired by technology The vacuum cleaner for men Customer Insights §  Bags and filters get clogged and restrict airflow. Loss of suction §  Vacuum cleaners are marketed as household aids.Are there different segments? Value Proposition for customers §  Dyson vacuum cleaners have NO bags and do NOT get clogged due Cyclone technology.Therefore, NO loss of suction. §  Dyson positions itself as technical, highly engineered products that address men. Revenue Model §  Dyson demands premium prices for its vacuum cleaners. Dyson = Value Innovation
  • 115. Unsolved job-to-be-done What is the biggest hassle with socks?
  • 116. Blacksocks – we save the world from socks problems Disposal Putting in pairs WashingUseDeliveryBuy Customer Productivity Simplicity Usability Risk Image fun Enviromental friendlyness Starting Points
  • 117. Blacksocks – We solve the world from its socks problems 10'000 12'000 25'000 40'000 0 10'000 20'000 30'000 40'000 2001 2002 2005 2008 Socks subscription (2001-2008) Customer Insights §  Buying socks is no fun §  Putting socks in pairs even less fun §  Good socks are a sign of „Being well dressed“ Value Proposition §  Blacksocks subscription solves all problems §  Always enough new socks §  No pairing needed since all socks are identical Revenue Model §  Upfront payment §  Easy planning and negative working capital Blacksocks = revenue model innovation 20% market share in Switzerland* * premium segment starting at 9CHF
  • 118. Customer job to be done I want a very special place to stay, at a good price, and want get local insights where to go out, to eat and to shop. Of course, I want to know if I can trust the person I stay with.
  • 119. AirBnB opened a whole new segment of offers to the individualistic traveler of today
  • 120. Even more individual choice for the traveler who looks for the special place to stay AND connect to the people of the place he visits: AirBnB
  • 121. Easy to book, transparent pricing: AirBnB
  • 122. Building trust by very personal reviews (peer-to- peer social control mechanism plus insurance coverage)
  • 123. Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture •  Website, App to connect BBs with customers •  word-of-mouth •  sales crew for BnB owners •  running site acquisition costs of BnBs (PH) •  asset light •  Acquisition of BnB places •  Quality Trust Mgmt •  Know-how of locations •  Customers pay BnB owner •  Takes services fees from the rent the households get (app. 15%) •  Customer (C) looking for special place to stay •  Private households (PH) who offer BnB •  PH: Income and international contacts for BnB owners •  C: places to stay that are outside the norm •  Contacts with locals •  n/a •  n./a. Travel like a human Build up BnB offer Help find right spot Match needs offer Payment GTC Reputation Trust Mgmt Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture •  Customer (Travelers) Job-to-be-done •  Finding a special place to stay •  Getting to know the hidden gems of destination •  Offer very special places that cannot booked anywhere else •  Connect with locals that share their insights Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture •  Households that offer BnB Job-to-be-done •  Earning money •  Have the world at home •  Refinancing rent •  Trust provided by platform •  Risk of damage is insured •  Connecting with people from abroad Why do customers like airbnB? PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER DAS RICHTIGE GRÜNDEN erkzeugkasten für Unternehmer
  • 124. Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture •  Website, App to connect BBs with customers •  word-of-mouth •  sales crew for BnB owners •  running site acquisition costs of BnBs (PH) •  asset light •  Acquisition of BnB places •  Quality Trust Mgmt •  Know-how of locations •  Customers pay BnB owner •  Takes services fees from the rent the households get (app. 15%) •  Customer (C) looking for special place to stay •  Private households (PH) who offer BnB •  C: places to stay that are outside the norm •  Contacts with locals •  PH: Income and international contacts for BnB owners •  n/a •  n./a. Build up BnB offer Help find right spot Match needs offer Payment GTC Reputation Trust Mgmt Asset light business model You do not need to own a place to provide awesome locations PATRICK STÄHLER DAS RICHTIGE GRÜNDEN Werkzeugkasten für Unternehmer 3 PATRICK STÄHLER DAS RICHTIGE GRÜNDEN erkzeugkasten für Unternehmer
  • 125. 2 Understand -  understand the current solutions and their strength weakness -  understand how the potential customer thinks and decides -  understand the market market mechanism
  • 126. Your point-of-view why you must exist: ............................................... ............................................... ............................................... ............................................... ...............................................
  • 127. You must have a clear point of view why your business should exist 10
  • 128. 3 Ideate Develop as many ideas as possible in the area of -  customers/ value proposition -  value architecture -  revenue model
  • 129. Think in options. Your current idea is not the only valid one. There are better ones. Search for them. Iterate 11
  • 130. 4 Design -  decide for three or four options -  design the business models for the options -  check the interdependencies in the business models -  work on the uniqueness (positioning) -  optimize the building blocks Customers Customer Benefit Offer Value Chain Core Capabilities Distribution Communication Channels Partner Business Model: Cost Structure Revenue Sources Team Values Revenue Model Team Values Value PropositionValue Architecture Use the canvas to develop your business model
  • 131. 5 Decide Prototype -  decide for the best model to go for -  build prototype -  test prototype with customers -  write business case -  decide again or work on different option
  • 132. Fast learning what works with rapid prototyping of your minimal viable business model is the key to success 12
  • 133. 6 Build Learn -  execute business model -  learn continuously from customer feedback and control KPIs -  adjust and refine continuously the business model
  • 134. Always question your core assumption and adapt to real life. Prototype fast. Learn fast 13
  • 135. 1 Customer Insight -  Observe your customers What job is not yet or badly solved? -  How does the Customer Experience Cycle look like? -  On what customer insights is your idea based? -  validate customer insight 2 Understand -  understand the current solutions and their strength weakness -  understand how the potential customer thinks and decides -  understand the market market mechanism 3 Ideate Develop as many ideas as possible in the area of -  customers/ value proposition -  value architecture -  revenue model 4 Design -  decide for three or four options -  design the business models for the options -  check the interdependencies in the business models -  work on the uniqueness (positioning) -  optimize the building blocks 5 Decide Prototype -  decide for the best model to go for -  build prototype -  test prototype with customers -  write business case -  decide again or work on different option 6 Build Learn -  execute business model -  learn continuously from customer feedback and control KPIs -  adjust and refine continuously the business model
  • 136. 1 Customer Insight -  Observe your customers What job is not yet or badly solved? -  How does the Customer Experience Cycle look like? -  On what customer insights is your idea based? -  validate customer insight 2 Understand -  understand the current solutions and their strength weakness -  understand how the potential customer thinks and decides -  understand the market market mechanism 3 Ideate Develop as many ideas as possible in the area of -  customers/ value proposition -  value architecture -  revenue model 4 Design -  decide for three or four options -  design the business models for the options -  check the interdependencies in the business models -  work on the uniqueness (positioning) -  optimize the building blocks 5 Decide Prototype -  decide for the best model to go for -  build prototype -  test prototype with customers -  write business case -  decide again or work on different option 6 Build Learn -  execute business model -  learn continuously from customer feedback and control KPIs -  adjust and refine continuously the business model Every startup is aniterative process withfast learnings andmany pivots
  • 137. Entreprenurship is eternal learning what the customer really wants and what works and what not 14
  • 138. What is a good strategy for startups? Differen- tiation Trend Build on strengths Focus
  • 139. It’s about finding the right trend to surf!
  • 140. Be different and be loved by your customers!
  • 141. „Scary to be this nail.Where will the hammer hit next time?“
  • 143. Doing is the essence of entrepreneurship
  • 145. More Information on http://blog.business-model-innovation.com Dr. oec. Patrick Stähler fluidminds GmbH Kreuzstrasse 2 CH-8008 Zürich Patrick.Staehler@fluidminds.ch www.fluidminds.ch blog.business-model-innovation.com @business_inno