4. *1. You make your friends laugh 2. You make your family laugh 3. You make strangers laugh 4. You make money THERE ARE 4 LEVELS OF COMEDY * … … AND INNOVATION.
5. WHAT IS A BUSINESS MODEL? (PART 1) A system that enables a business to grow and make profits on a sustainable basis. BUSINESS MODEL
6. 8 WHAT IS A BUSINESS MODEL? (PART 2) Source: Peer Insight (2006) Customer Needs Control Points Customer Experience Customer Offering Value Capture Who is our customer and what are their unmet needs? What experience are we trying to create? What offering will deliver that experience? What control points will we use to drive loyalty? How will we get paid for participating in the experience? CREATING VALUE (EXTERNAL) GETTING PAID (INTERNAL)
10. 13 WHAT GLAUCOMA PATIENTS SAY “ I’ll bet my eye pressure is fine (I wish I knew for sure).” “ My eyes feel fine.” “ Those drops are hard to get in my eyes.” “ It’s hard to remember to put the drops in.” “ These meds cost about $70 a month!” “ Doctors … they’re paid to be conservative.”
11. 14 WHAT OPTOMETRISTS SAY “ Maybe it would be better if they could measure the pressure at home … maybe it wouldn’t change anything.” “ They just need to put one drop in each eye at night, and it’s 89% effective.” “ Some patients have eye surgery, to drain the fluid causing pressure. It’s riskier than drops, but not if they won’t use them.” “ It’s not like we’re talking about getting blurry vision – with Glaucoma, it goes DARK.”
12. 15 HOW CAN WE DEVELOP A BUSINESS MODEL TO SUPPORT ERIC?
13. 17 THE iMIST DEVICE * MEASURES OPTHALMIC PRESSURE AND APPLIES THE TOPICAL SOLUTION. *Note: Not a real product.
14. 18 OFFERING: “SEE FOREVER” VIRTUAL COMMUNITY BASED ON iMIST DEVICE AND XALATAN DROPS.
15. 19 THE BUSINESS MODEL DESIGNER’S VIEW OF iMIST FOCUSES ON SEVERAL KEY CONTROL POINTS . To create a defensible strategy, iMist needs to limit competitive access to some of its architecture elements. These represent control points.
16. 20 MULTIPLE FINANCIAL FLOWS ARE POSSIBLE, AND THE KEY ALTERNATIVES NEED TO BE TESTED. Provide optometrists with universal access to iMist? OR Charge optometrist $2,000 license fee for geographic exclusivity? Optometrist paid for a consultation when reviewing data OR Optometrist only saves money from eliminating unnecessary office visits Bundle coaching fees with Xalatan cost? OR Patient subscribes to coaching by Pavlovia separate from Xalatan (ex: subscribes for 100 days for $4/day, total of $400)
20. 24 HOW DO YOU EXPLORE GROWTH OPPORTUNITIES? YOU THINK LIKE A VC. “ Learn through action, not analysis; affordable loss / return on learning.” What are the critical few STRATEGIC QUESTIONS that are crucial to the FUTURE of the business? What is an AFFORDABLE minimum level of resources we can invest to EXPLORE those questions? Will that amount get us to a MILESTONE?
21. 25 DON’T TELL, SHOW. ILLUSTRATE THE CONCEPT IN ACTIVITY FLOWS AND SCENARIOS. Affordable Loss Visualize Options Let others Validate Ripples Speed
22. 26 MAKE IT REAL FOR TEST CUSTOMERS THROUGH MOCK IMAGERY AND ARTIFACTS. Affordable Loss Visualize Options Let others Validate Ripples Speed *Note: This is a fictitious case.
23. 27 USE PICK AND PLACE EXERCISE TO LET OTHERS VALIDATE . Affordable Loss Visualize Options Let others Validate Ripples Speed Hmm, what’s fair to pay for Glaucoma coaching?
24. 28 LET OTHERS VALIDATE THROUGH A PREDICTION MARKET. Affordable Loss Visualize Options Let others Validate Ripples Speed OPTION 1 OPTION 2 Concept 1: Personal Plus Online account to determine your best fit for project sizing, budget, etc. Personalized card to accumulate your transactions and beam your points to the cash converter. Sensor embedded in the Magic Wand to observe eye movements and transmit them to the data center. Algorithm learns your preferences within 90 days. Concept 2: Plug-and-Play Modules Hosted application lets you try out any module for 7 days. Social network permits you to see who else is using a module, forge a trial link based on shared interests. PREDICTION MARKET
25. 29 NEW iMIST CONCEPT IS EXPOSED IN RIPPLES , WITH PROTECTION AT EACH STEP. Affordable Loss Visualize Options Let others Validate Ripples Speed *Note: This is a fictitious case.
26. 30 SPEED IS CRITICAL; iMIST PLATFORM IS READY FOR LEARNING LAUNCH IN 160 DAYS. Affordable Loss Visualize Options Let others Validate Ripples Speed *Note: This is a fictitious case.
29. 33 ERIC HAS A NEW PERSPECTIVE “ I am committed to see forever.” “ How can I forget now? My wife signed me up for text reminders.” “ One of my cohort friends is fighting to regain his vision. I’m helping him fight.” “ It is so much easier to get the medication in my eyes.”
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