Beyond Food Bootcamp: Who is your customer?
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This document summarizes a MIT Beyond Food Bootcamp held in Hsinchu, Taiwan from September 10-15, 2017. The bootcamp covered 6 themes of disciplined entrepreneurship over 24 steps, with Theme 1 focusing on identifying who the customer is. Several potential customer market segments for fitness products/services were analyzed and compared, including chain gyms, college athletic facilities, home gyms, and more. The document discusses picking a "beachhead market" segment to start with, creating an end user profile through personas and quantitative/qualitative research, and how convergence on understanding the customer can happen rapidly with just a few detailed interviews.
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Beyond Food Bootcamp: Who is your customer?
- 1. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Who is the customer? MIT BEYOND FOOD BOOTCAMP
- 2. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Disciplined Entrepreneurship: 6 Themes, 24 Steps
- 3. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Theme 1: Who is your customer?
- 4. Let’s start with a story 4
- 5. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Once upon a time… 5
- 6. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Every day… 6
- 7. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP But… 7 Photo credit: https://myhusbandisannoying.wordpress.com/
- 8. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP 8 Photocredit:http://www.awareparenting.com/
- 9. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP What does he crave? 9
- 10. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP What about her? 10
- 11. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP What’s in their way? 11
- 12. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Let’s see what we’ve got Once upon a time… Every day… BUT… 12
- 13. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Once upon a time… Every day… BUT… 13 Problem
- 14. Theme 1: Who is the customer? 14
- 15. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Theme 1: Who is your customer?
- 16. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Market segmentation 16 Chain Gyms (Discount/Mainstream ) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes
- 17. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP 17 Chain Gyms (Discount/Mainstream ) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes Key point for this exercise: • What are the columns? (These are the segments) • What are the rows? (These are how you compare)
- 18. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Segment by behavioral attributes, not by demographic attributes 18
- 19. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Picking a “Beachhead Market” 19 Chain Gyms (Discount/Mainstream ) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes
- 20. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP 20 Chain Gyms (Discount/Mainstream ) Chain Gyms (High end) Varsity Athletic Weight Rooms (College) Professional Weight Rooms Home Gyms Rehab Facilities Apartment/Hotel/ Offices Olympic Training Facilities High End Non Chain Gyms Examples • YMCA, Gold’s Gym, Anytime Fitness, Planet Fitness, etc • Equinox, LA Fitness, David Barton, New York Sports Club • School Facilities • Team Facilities • Home Gyms • Private Training Facilities • Home Gym • Joint Ventures (etc), Brigham Young Women’s Hospital (etc) • Finance/Consulting Offices • High end apartments/hotels • Training complex in CO, NC, etc • Velocity sports performance, etc Pros • Market size • Expand to other locations • Prioritize top of the line • Expand to other locations • More money • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Care about athlete improvement, health, and safety • Easier to expand to follow on markets • Prioritize safety • Wealthy • Large market • Expand to other locations • Prioritize safety and patient improvement • Progress tracking is huge • Some not supervised – safety is important • Expand to other locations • Care about athlete improvement, health, and safety • Easier to expand to other markets • Care about athlete improvement, health and safety. Cons • Value Proposition • Limited funds • Value Proposition • Limited funds • Contacts • Difficult to expand to other colleges • Contacts • Difficult to expand to other facilities • Want things for free • Difficult to expand • Funds may be limited • Patients do not typically lift heavy weights • Not a main part of business • More serious athletes do not frequent these locations • Contacts • Market size • Difficult to expand to other locations • Trainers usually there to spot and track Motivations (for economic buyer) • Money – bringing in new customers, retaining old ones • Money – bringing in new customers, retaining old ones • Image • Athlete Improvement • Recruiting athletes • Athlete Improvement • Safety • Athlete Improvement • Money • Athlete improvement • Less time spent monitoring and tracking patients • Money – Attracting customers or employees • Happiness/well being of employees • Athlete Improvement • Money – Attracting new customers • Athlete Improvement Regulatory Climate • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated • Regulated Competitive Environment • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Highly Competitive • Less competitive • Highly Competitive • Highly Competitive • Highly Competitive Early Adopters • No • Yes • Yes • Yes • Varies • No • No • Yes • Yes ? Picking one to start with
- 21. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User Profile 21
- 22. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP TAM 22 $$
- 24. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Image credit: http://www.slideshare.net/LeanStartupConf/jon-irwin-rocktheinterview-slides Persona
- 25. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP 25
- 26. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Qualitative Quantitative
- 27. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP The Detailed Interview
- 28. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP If things go well, convergence is rapid In 5 interviews: subjects started self-organizing In 10 interviews: Top persona hypotheses emerge In 20 interviews: personas fully validated
- 29. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP In-class exercise: Getting 15 minutes from 30 people Who are they, and what are their attributes? How do you find them? How do you get them to agree to talk to you for 15 minutes? 29
- 30. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Sharing! 30
- 31. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Theme 1: Reprise
- 33. If we have time: Theme 3 sneak peak: DMU/DMP
- 34. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Theme 3 Sneak Peek
- 35. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Back to Laura and Isaac End User? 35
- 36. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User? Economic buyer? 36
- 37. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User? Economic buyer? Champion?
- 38. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User? Economic buyer? Champion? Influencer? 38
- 39. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User? Economic buyer? Champion? Influencer? Veto Power? 39
- 40. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP End User? Economic buyer? Champion? Influencer? Veto Power? 40
- 41. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP B2B Example: Factory use case
- 42. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP User 1: Betsy Line worker User 2: Tom Technician Usage influencer: Bob: Supervisor (Betsy’s boss) Buyer: John Plant Manager Purchase Influencer: Mark Controller Purchase Influencer: Dave Process Engineer Purchase Influencer: Brian Owner Many personas to build and test User 3: Dave Process Engineer
- 43. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Theme 3: Reprise
- 44. SEPTEMBER 10-15, 2017 HSINCHU, TAIWAN MIT BEYOND FOOD BOOTCAMP Questions? 44