This document provides guidance and instructions for participants in a startup training module. It outlines the tasks to complete for the day which include revising their business idea based on feedback, creating an initial business model canvas, and presenting it to their team for additional feedback. It also provides tips for problem interviews, solution interviews, and getting feedback from potential customers. The document concludes by wishing the participants good luck in their entrepreneurial journey.
Manipulating Sales Pitch to Various Customer Personalitypearljohnson10
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The personality of your client plays an important role while tailoring a flawless sales pitch. The Internet is aplenty with resources that coach marketers how to please a customer based on his or her personality.
For More: http://bit.ly/2bFBK5Q
Recent talk at Mums in Business group in East Dulwich. Introduction to business modelling, use of a business model canvas and discussion on a range of business models.
Based on the book "Business model generation" by A. Osterwalder / Y. Pigneur
Manipulating Sales Pitch to Various Customer Personalitypearljohnson10
Â
The personality of your client plays an important role while tailoring a flawless sales pitch. The Internet is aplenty with resources that coach marketers how to please a customer based on his or her personality.
For More: http://bit.ly/2bFBK5Q
Recent talk at Mums in Business group in East Dulwich. Introduction to business modelling, use of a business model canvas and discussion on a range of business models.
Based on the book "Business model generation" by A. Osterwalder / Y. Pigneur
Pitching for investment? Make sure your pitch tells the full story:
- how to make your pitch memorable
- avoid the most common mistakes
- use persuasive language
- create professional looking design in no time
L'art de l'interview - Oussama Ammar, Co-founder chez TheFamilyTheFamily
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L'interview est un art complexe: un bon interview vient des bonnes questions posĂŠes. Oussama Ammar, va dĂŠvelopper les subtilitĂŠs Ă comprendre pour maĂŽtriser l'art de l'interview.
Les slides : https://www.youtube.com/watch?v=lEi0a0n9IUA
At TheFamily, we believe that anyone can become a great entrepreneur. Find more info here: http://www.thefamily.co/
Par Oussama Ammar, Co-founder chez TheFamily - http://twitter.com/@daedalium
Pitching B2B? Use the One Page Pitch to create a script that will win more business. Focus on bringing value to the client and how you are different from the competition.
Be a Blue Lobster!
The One Page Pitch is designed by Tomas Bay, founder of Blue Lobster. Feel free to pass it on. Share it!
If youâre using the same outdated approach to cold calling as most sales reps, youâre doing it wrong... and youâre missing out on a lot of appointments.
In this slideshow from our March session of Business Wise Insiders, you'll learn 5 new rules for cold calling that replace the old, outdated strategies most sales reps use; secrets to cold calling efficiency that lead to more appointments with better prospects in less phone time; how to avoid common cold calling mistakes that might be lowering your success rate.
The 5-Step Cold Call Challenge: Overcome Obstacles to More Appointments and S...Business Wise Inc.
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Do you know how to get past the âgatekeeperâ so you can talk to your prospect? What if your prospect says she doesnât have time? Or asks you a tough question?
The most successful cold callers know how to navigate these challenging scenarios to win over prospects and set more appointments.
Learn how in this presentation from Business Wise Insiders!
Pitch method : SIMAC or persuasive selling formatEloquens
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SIMAC is a pitching method that has proven very successful in commercial and business contexts. The method helps you create a pitch that contains five successive steps :
1- Summarize your Situation;
2- State your Idea;
3- Explain the Mechanism of your idea, how it works;
4- List the Advantages of your idea, its key benefits;
5- Conclude your pitch and define clear next steps.
Selling Smart Workshop - April 1, 2015 - People Buy Emotionally, Justify Inte...AnnArborSPARK
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In this session, you will learn how to define a prospectâs needs, wants, challenges, and/or problems, or âpain.â You will learn the three components of pain and how to use specific questioning techniques to prompt the prospectâs internal motivation. Additionally, you will learn how to qualify or disqualify the opportunity based on whether your product or service could solve the problems identified.
When you are a sales manager, youâll be responsible for the performance of your whole team. You cannot afford to make mistakes, and you need to be familiar with the common mistakes that almost every sales manager makes. Here are 12 mistakes that every new sales manager makes:
Tipps on how to master en elevator pitch by PresentationLoad, your expert for buiness presentation templates for PowerPoint. For more information check out our blog: http://blog.presentationload.com/elevator-pitch-art-convincing-within-minutes/
A brief presentation I gave to companies participating in the DFAIT AIM Bootcamp here in Calgary. Focused on the "elevator pitch" but includes some info on how to deliver a solid 10 minute pitch.
In this workshop, Elaine Chen, Cummings Family Professor of the Practice in Entrepreneurship and the Director of the Derby Entrepreneurship Center at Tufts, will be talking about how to use primary market research techniques to learn about the market and customer for innovative new venture creation.
Best pitching practices - MassChallenge Switzerland - TiKi4Benoit Schumacher
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A presentation given on Saturday, May 7, to semifinalist startups of the MassChallenge 2016 Switzerland Program in Geneva, to help them prep for Round 2 Judging.
Pitching for investment? Make sure your pitch tells the full story:
- how to make your pitch memorable
- avoid the most common mistakes
- use persuasive language
- create professional looking design in no time
L'art de l'interview - Oussama Ammar, Co-founder chez TheFamilyTheFamily
Â
L'interview est un art complexe: un bon interview vient des bonnes questions posĂŠes. Oussama Ammar, va dĂŠvelopper les subtilitĂŠs Ă comprendre pour maĂŽtriser l'art de l'interview.
Les slides : https://www.youtube.com/watch?v=lEi0a0n9IUA
At TheFamily, we believe that anyone can become a great entrepreneur. Find more info here: http://www.thefamily.co/
Par Oussama Ammar, Co-founder chez TheFamily - http://twitter.com/@daedalium
Pitching B2B? Use the One Page Pitch to create a script that will win more business. Focus on bringing value to the client and how you are different from the competition.
Be a Blue Lobster!
The One Page Pitch is designed by Tomas Bay, founder of Blue Lobster. Feel free to pass it on. Share it!
If youâre using the same outdated approach to cold calling as most sales reps, youâre doing it wrong... and youâre missing out on a lot of appointments.
In this slideshow from our March session of Business Wise Insiders, you'll learn 5 new rules for cold calling that replace the old, outdated strategies most sales reps use; secrets to cold calling efficiency that lead to more appointments with better prospects in less phone time; how to avoid common cold calling mistakes that might be lowering your success rate.
The 5-Step Cold Call Challenge: Overcome Obstacles to More Appointments and S...Business Wise Inc.
Â
Do you know how to get past the âgatekeeperâ so you can talk to your prospect? What if your prospect says she doesnât have time? Or asks you a tough question?
The most successful cold callers know how to navigate these challenging scenarios to win over prospects and set more appointments.
Learn how in this presentation from Business Wise Insiders!
Pitch method : SIMAC or persuasive selling formatEloquens
Â
SIMAC is a pitching method that has proven very successful in commercial and business contexts. The method helps you create a pitch that contains five successive steps :
1- Summarize your Situation;
2- State your Idea;
3- Explain the Mechanism of your idea, how it works;
4- List the Advantages of your idea, its key benefits;
5- Conclude your pitch and define clear next steps.
Selling Smart Workshop - April 1, 2015 - People Buy Emotionally, Justify Inte...AnnArborSPARK
Â
In this session, you will learn how to define a prospectâs needs, wants, challenges, and/or problems, or âpain.â You will learn the three components of pain and how to use specific questioning techniques to prompt the prospectâs internal motivation. Additionally, you will learn how to qualify or disqualify the opportunity based on whether your product or service could solve the problems identified.
When you are a sales manager, youâll be responsible for the performance of your whole team. You cannot afford to make mistakes, and you need to be familiar with the common mistakes that almost every sales manager makes. Here are 12 mistakes that every new sales manager makes:
Tipps on how to master en elevator pitch by PresentationLoad, your expert for buiness presentation templates for PowerPoint. For more information check out our blog: http://blog.presentationload.com/elevator-pitch-art-convincing-within-minutes/
A brief presentation I gave to companies participating in the DFAIT AIM Bootcamp here in Calgary. Focused on the "elevator pitch" but includes some info on how to deliver a solid 10 minute pitch.
In this workshop, Elaine Chen, Cummings Family Professor of the Practice in Entrepreneurship and the Director of the Derby Entrepreneurship Center at Tufts, will be talking about how to use primary market research techniques to learn about the market and customer for innovative new venture creation.
Best pitching practices - MassChallenge Switzerland - TiKi4Benoit Schumacher
Â
A presentation given on Saturday, May 7, to semifinalist startups of the MassChallenge 2016 Switzerland Program in Geneva, to help them prep for Round 2 Judging.
A practical guide and template to create a winning corporate venture pitch.
What is it for?
When you need to ask corporate leadership to back your venture and you want to convince them with a compelling story rooted in data.
Available in an editable PPT and Keynote template on our website: https://www.bundl.com/reports/the-proven-pitch-deck-template?utm_medium=Template platform&utm_source=Slideshare&utm_campaign=Slideshare%20-%20proven%20pitch%20
Benefits:
Unlock the funding and resources you need to move your venture forward.
Gain the support of internal stakeholders, your board of directors and/or corporate leadership.
Get real-world examples of successful corporate venture pitches.
A practical guide and template to create a winning corporate venture pitch.
What is it for?
When you need to ask corporate leadership to back your venture and you want to convince them with a compelling story rooted in data.
Available in an editable PPT and Keynote template on our website. https://www.bundl.com/reports/the-proven-pitch-deck-template
Benefits:
Unlock the funding and resources you need to move your venture forward.
Gain the support of internal stakeholders, your board of directors and/or corporate leadership.
Get real-world examples of successful corporate venture pitches.
How We Used Fast Customer Feedback to Build Product Insights - Michelle Huff...Traction Conf
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Is it desirable? Is it viable? Is it feasible? These are the criteria every team should consider when building a product.
This was the mantra of UserTesting as we recently developed a product using fast customer feedback to build a product... for fast customer feedback.
When UserTesting builds products, they're constantly refining their understanding of three key questions: who is my customer? what is their problem? what is the best, lightest solution I can build for them? This drives rapid validation & iteration cycles as we build.
In this session, UserTesting CMO Michelle Huff will discuss their product development framework and discuss how they used customer feedback to (in)validate early ideas and build a shared understanding of the customer to avoid the second-guessing, and avoid debating and Monday-morning-quarterbacking that PMs often encounter when building products.
She will also share examples of how they shared their understanding of the three key questions throughout the product development lifecycle to bring stakeholders along.
So, inspiration has struck you with a great idea. But how do you then build a successful business...
This presentation contains practical experience from both my successes and failures as an entrepreneur in Africa's largest economy.
The thoughts shared in this presentation have largely been influenced by the Lean Start-up, Customer Discovery and Business Model Innovation movements led by Eric Ries, Steven Blank and Alex Osterwalder
Validate Your Ideas Quickly with Google Design SprintBorrys Hasian
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This was presented at Compfest, an annual one-stop IT event held by students of Faculty of Computer Science, University of Indonesia. The deck is about Design Thinking and Google Design Sprint.
This presentation is an introduction to some of the key elements of Product Strategy for early-stage startup founders. Product people who are interested in saving time & money while gaining feedback quickly and validating their business model & product decisions early might be interested as well.
I am a consultant on Product Strategy for small & big enterprises. Find out more about my work & connect with me: about.me/marc.lange
This keynote presentation was given by me at Google Launchpad Munich on the 2nd of March. To find out more about Google Launchpad, the global, event-based micro-accelerator, check out this link: https://developers.google.com/startups/launchpad
I am a Google Head Expert on Product Strategy. See my profile here: https://developers.google.com/experts/people/marc-c-lange
đ Go to http://bit.ly/build-business-ideas to read the full article! đđť
10-steps guide for corporate innovators to:
------------------------------------------------------
- Validate business ideas with proved methodologies
- Communicate these ideas more effectively with a structured format
Excerpt from Lewis C. Lin's The Product Manager Interview https://interviewsteps.com/products/the-product-manager-interview-167-actual-questions-and-answers
Creative Classroom - How to enable students to reach their creative potentialStartup Experience
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How can we bring creativity back in the classroom? This presentation is from a talk I gave at the Educational Competitions Conference hosted by Zozude.com on March 10th 2014. Everything starts with an idea - but how can we teach creativity, invention and entrepreneurship to students at young age and get them excited about pursuing their ideas?
A Strategic Approach: GenAI in EducationPeter Windle
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Acetabularia Information For Class 9 .docxvaibhavrinwa19
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Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
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This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
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Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
⢠The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
⢠The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate âany matterâ at âany timeâ under House Rule X.
⢠The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Embracing GenAI - A Strategic ImperativePeter Windle
Â
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
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Francesca Gottschalk from the OECDâs Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
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http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasnât one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
2. What did you do?
âŚwhat did you learn???
âŚâŚ.so what will you do now?
Welcome Back ď
3. TO DO TODAY
1. Revise your idea based on market insights and
feedback from interviewees.
2. Create the first version of your business model by
filling out the canvas below
3. Present the business model to your buddy team
and get feedback
4. Delegate tasks to everyone in the team (What will
you do between now and next session)
20. Donât just rely on advertisement!!!
CPM = âcost per 1000 impressionsâ
= cost per 1000 times that an add is viewed on your website =
CPM = 1$ to 4$
38. Problem Interview
- Learn about the early adopterâs problems
- Donât talk about your solution
Solution interview
- Not a pitch to sell your product â focus on learning
- Confirm the MUST-HAVE PROBLEM
- Use a Demo to test if your solution is what the user wants
- Test pricing
What should we ask?
40. Shut up and listenâŚ
Donât defend yourself â just listen
Write down the insights you getâŚ
Feedback is a gift!
41. âWhether you think you can, or you think you canât - youâre right!â
- Henry
Ford
Henrik Scheel
henrik@startupxp.com
www.linkedin.com/in/henrikscheel
Facebook.com/startupexperience
www.StartupExperience.com/AEP
Good luck with your entrepreneurial journey!
Editor's Notes
(Market segmentation, Business Model Generation and introduction to LEAN Startup Methodology, interviewing 2.0)
Solution interviews?
Okay my friends, now itâs time to get REAL. In the previous stages you have worked on an idea, now we will turn that idea into a viable business. itâs time to think through all the details of your idea and start testing if you are actually right about all your assumptions â have you really understood the core problem? Does the user like your idea? What will it cost to build your product? We will now introduce a powerful framework called The Business Model Canvas. The canvas is one of the most popular tools that startups use to sketch out their ideas in order to get a complete overview of the whole business. The canvas can be used to identify potential threats and see new opportunities, it will help you get a better understanding of the entire value chain of your business and help you build a strong competitive advantage.
*Before giving this presentation please spend 5 minutes looking through this video by Steve Blank and feel free to use some of his examples: http://www.youtube.com/watch?v=teURBW6qnRY
The worldâs largest taxi firm, Uber, owns no cars.
The worldâs most popular media company, Facebook, creates no content.
The worldâs most valuable retailer, Alibaba, carries no stock.
And the worldâs largest accommodation provider, Airbnb, owns no property.
Something big is going on.
*Ask how they are doing, if they have any questions and if they got some good feedback from their buddy teams..
As you can see they business model canvas is a great tool for prototyping and describing your business. It can also be a powerful tool to understand your competitors and create competitive advantage. Some companies use the canvas to sketch out the business model of their competitors and thereby gain new insights about how to differentiate their products and services from those of their competitors.
*click
Whereas traditional innovation has been around a service of a new product
*click
You can also innovate around your business model. You need to create a good business model around your products, otherwise you will never be able to make money in a sustainable way.
Good example is Apple â when they created the Ipod.. The innovation with the Ipod wasnât just a nice new gadget, the real innovation was that Jobs managed to convince the music industry to hand over their business model to Apple and allow Apple to take a 30% cut every time a song is sold through iTunes.
I will now introduce three generic business models for your inspiration.
The first one is called The Bait and Hook model. The concept is that you throw out the bait and try to hook the customers.. The bait is one type of products that you sell very cheaply to the customers in order to get their attention and afterwards be able to sell more products at a higher margin (where you earn more money).
*explain the drawingâŚ
Your company is on the left hand side.. You can see how you have a one-time transaction with the customer where you sell one type of products at a low margin.. And then afterwards your customers will continue to buy another type of products from you where you earn a higher margin.
*ask the students: Can you think of any companies that use the bait and hook model?
*typical examples: games (buy the game for $1 and then buy more upgrades in the game), buy a car and then you need to pay for ongoing service, Cell phones you buy with a 2-year plan, playstation/Xbox where you buy the console very cheap and then you spend a lot of money on games that fit your console..
A classic example is how Gillette makes money.. Their customers on the right hand side are males age 16-99 who need a good shave.
In this model you can see that Gillette has two different products â the razor handle that they sell very cheaply to the customers in order to hook the customers and then make the customers pay loads of money on overprized razor blades for the rest of their livesď pretty smart right!
Freemium is a business model by which a product or service (typically a digital offering such as software, media, games or web services) is provided free of charge, but a premium is charged for advanced features, functionality, or virtual goods
The business has two different customer segments â group 1 who are non-paying customers (users), and group 2 who are paying customers.
In a freemium business the vast majority of your customers will be freemium users (non-paying), but over time you are hoping that an increasing number of users will convert and become paying customers.
As you can imagine you will typically need a lot of funding to start a freemium business since the revenue doesnât start coming in until your users over time see enough value in your product to convert and become paying customers. The paying customers can of course take advantage of the additional features you offer to those who pay (premium account) but most people will probably be happy just using the free version of your product, which is ok!
Can you think of examples of companies that use the freemium model?
*fx. Many web services like Dropbox (online storage), free online games where you can get more levels if you pay (angry birds),
Another classic example of freemium is SKYPE. They offer free VOIP (voice Over Internet Protocol) to most users *ask how many use skype⌠then ask how many pay for Skype?
Some users convert into paying customers if they also want to use Skype to call cell phones or access wifi hot spots in airports and that is the way Skype make money.
The last model I want to present is the connection platform. It is also the most complex model to understand because the company is serving so many different customers and users. The economic logic is that you get a ton of users to use your platform and because you now own a lot of relevant data you can charge some customers who wants to gain access to your freemium users.
Here is a model where you as a company are providing value to group 2 and 3 without getting anything in return, but because you have all these users on your platform you can serve group 1 who are willing to pay you money to gain access to your freemium users â typically through targeted advertisement or by getting access to your data.
Can you think of any business that use this model?
*Fx. Most social networks like LinkedIn, Instagram, and Facebook
The example here is Facebook *ask how many who use Facebook, then ask how many who pay to use Facebook?
*Point out that Facebook provides value to all their users without charging them.. But because they now have 900M users, they can earn a lot of money from advertisement by selling data and provide targeted adds on their platform.
So thatâs it.. Any questions about the three models?
I hope this inspired you to come up with some new ideas.. See you can use some components from these three models.
Some of you might consider advertisement as a way to create revenue for your business.. That is of course okay, but does any of you know how online advertisement work?
When you visit a website, you often see video ads and other advertisements that -- if clicked on -- direct you to another webpage. These are CPM ads and they take the form of clickable advertisements and commercials for webpages. CPM means "cost per 1,000 impressions" --- that is, the set rate each advertiser pays per 1,000 times a customer views that advertiser's CPM ad on a publisher's webpage. Advertisers and publishing networks pay varying rates for CPM ads but generally the price is between $1 and $4 per 1,000 impressions.
*click
So you obviously you need A LOT OF USERS before you start earning any significant revenue from adds
The estimated annual medical cost of obesity in the U.S. was $147 billion in 2008 U.S.
You have now sketched out the very first version of your business model, but itâs important to know that there can be many alternative models that might work even betterâŚ
During the past stages of the process we have tried to understand the userâs core problem and we have come up with a great idea that we think can help solve this problem.. But itâs important to remember that all we have really done is sit here in this room and come up with a lot of assumptions (guesses) about the user â we now need to realize that there is no truth in this room, only guesses!
The only way to make sure we are right about all our assumptions is to go out of the building and talk to the potential users of your product or service! This process is what we call Customer Development and it is one of the absolute most important parts of being an entrepreneur and innovator â cause as weâve mentioned before ânobody will pay you to solve a non-problemâ â you need to understand the real pain point before you can find the right solution.
In corporations we tend to build MAXIMUM viable products..
When you are done with the user description template we will make use of our buddy teams during the first #Watering hole session. The watering hole is were all the animals meet on the savanna do drink peacefully together. Just like the animals we will meet up with our buddy team and help each other to improve our problem statement and user understanding. An important part of being an entrepreneur is to network and meet people who can give you good feedback on your ideas. During the camp you can use your buddy team to get valuable feedback on your ideas. It is always good to try to present your thoughts to someone else and then get their input. Remember that ideas are cheap â itâs only execution that matters.. So the benefit of getting feedback when you share you ideas always exceed the risk of somebody stealing your idea..