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Strategy and Business Models – DIT PM Module 1
ROHAN PERERA
RAOMAL PERERA
rohan@LeanDisruptor.com | @LeanDisruptor | www.facebook.com/LeanDisruptor
HOW TO BUILD A STARTUP
Using Business Model Innovation
ROHAN PERERA
 Entrepreneur
 Cheqio and LyfeStyle
 Facilitator of Entrepreneurial Studies
 Godolphin Flying Start Programme, UCD Innovation
Academy, DIT New Frontiers Programme, DIT iCubed
Programme, SEI Impact Programme
 StartUp Consultant
 Pundit Arena, UniTuition
 Semi-Professional Poker Player
 Plays Locally/Internationally and Online
 Brand Ambassador
 Cheqio (http://www.cheqio.com/othersports)
 Contact
 Rohan@leandisruptor.com
 www.linkedin.com/in/rohan-perera 2
RAOMAL PERERA
 Serial Entrepreneur
 ISOCOR (NASDAQ: icor) & Network365/Valista (Intel)
 Adjunct Professor of Entrepreneurial Studies
 INSEAD & UCD
 Business Model Innovation, Lean Startup, Leadership &
Fund Raising
 Consultant
 Clients include: MSD (Merck), HP (Hewlett Packard), IFB
(Irish Film Board), HSE (Health Service Executive), Arvato
(Bertelsman), Resmed, Openet, Glandore, SEI (Social
Entrepreneurs Ireland), DJEI (Dept of Jobs, Entreprise and
Innovation), CWIA (Cartier Women’s Initiative Awards) …
 Accolades
 Finalist Ernst & Young Entrepreneur of the Year
 Tech Pioneer World Economic Forum
 ISA Award for Outstanding Software Achievement
3
www.Facebook.com/LeanDisruptor
4

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5
• Identify the Problem/Need first before
defining the Solution.
• To introduce you to the key tools and
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Customer vs. Product Development
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BUSINESS MODEL INNOVATION

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Hypotheses or Guesses
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• It helps us to organize our thinking! It is not
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business.
• The real question is How do we change those
guesses into FACTS?
50
Customer Development Process
Post it to the Wall
- Create the canvas
- Make it Visible
- Use Yellow Post-It notes
with your guesses
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FACTS here. Talk to Customers, Partners, Vendors. Design
experiments, run tests, get data
51
What I learned…
 getting an interview right is not an easy task
 while I wanted to solve one problem I discovered another more
relevant one
 if you have a good relationship with people and you offer a proven
service they will give you a chance
 I discovered that my initial business idea was not the best idea
 through customer interviews I redefined my idea
 patience is important…I am still trying to get in touch with some of my
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Title: Relational Database Management System Concepts(RDBMS) Description: Welcome to the comprehensive guide on Relational Database Management System (RDBMS) concepts, tailored for final year B.Sc. Computer Science students affiliated with Alagappa University. This document covers fundamental principles and advanced topics in RDBMS, offering a structured approach to understanding databases in the context of modern computing. PDF content is prepared from the text book Learn Oracle 8I by JOSE A RAMALHO. Key Topics Covered: Main Topic : DATA INTEGRITY, CREATING AND MAINTAINING A TABLE AND INDEX Sub-Topic : Data Integrity,Types of Integrity, Integrity Constraints, Primary Key, Foreign key, unique key, self referential integrity, creating and maintain a table, Modifying a table, alter a table, Deleting a table Create an Index, Alter Index, Drop Index, Function based index, obtaining information about index, Difference between ROWID and ROWNUM Target Audience: Final year B.Sc. Computer Science students at Alagappa University seeking a solid foundation in RDBMS principles for academic and practical applications. About the Author: Dr. S. Murugan is Associate Professor at Alagappa Government Arts College, Karaikudi. With 23 years of teaching experience in the field of Computer Science, Dr. S. Murugan has a passion for simplifying complex concepts in database management. Disclaimer: This document is intended for educational purposes only. The content presented here reflects the author’s understanding in the field of RDBMS as of 2024. Feedback and Contact Information: Your feedback is valuable! For any queries or suggestions, please contact muruganjit@agacollege.in

data integritytypes of integrityintegrity constraints
Result
Pay every 6 months rather than every month
Use tangible gifts as “hooks”
Choose some major race meetings to start with
Tips and information on races and racetracks worldwide
Limit the number of TC membership to ensure the service
quality and to create a sense of exclusiveness
Consultancy, not translation or travel agency
3 job offers, 3 want to join the business, 1 willing to invest
Exercise: 20 Mins
Develop a BMC for your idea using an A1
canvas poster. Work in groups of 3 and
pick one of the projects.
54
55
Strategy and Business Models – DIT PM Module 1
rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal
ROHAN PERERA
SESSION TWO

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Title: Relational Database Management System Concepts(RDBMS) Description: Welcome to the comprehensive guide on Relational Database Management System (RDBMS) concepts, tailored for final year B.Sc. Computer Science students affiliated with Alagappa University. This document covers fundamental principles and advanced topics in RDBMS, offering a structured approach to understanding databases in the context of modern computing. PDF content is prepared from the text book Learn Oracle 8I by JOSE A RAMALHO. Key Topics Covered: Main Topic : DATA INTEGRITY, CREATING AND MAINTAINING A TABLE AND INDEX Sub-Topic : Data Integrity,Types of Integrity, Integrity Constraints, Primary Key, Foreign key, unique key, self referential integrity, creating and maintain a table, Modifying a table, alter a table, Deleting a table Create an Index, Alter Index, Drop Index, Function based index, obtaining information about index, Difference between ROWID and ROWNUM Target Audience: Final year B.Sc. Computer Science students at Alagappa University seeking a solid foundation in RDBMS principles for academic and practical applications. About the Author: Dr. S. Murugan is Associate Professor at Alagappa Government Arts College, Karaikudi. With 23 years of teaching experience in the field of Computer Science, Dr. S. Murugan has a passion for simplifying complex concepts in database management. Disclaimer: This document is intended for educational purposes only. The content presented here reflects the author’s understanding in the field of RDBMS as of 2024.

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6969
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Work in groups of 3.
70
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BUSINESS MODEL ENVIRONMENT

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Environment Map
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your business
Business Modelling Tools – Zoom Out
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KEY TRENDS
Technology Trends
Regulatory Trends
Societal & Cultural Trends
Socioeconomic Trends
75
Technology Trends
Identifies technology trends that could threaten
your business model or enable it to evolve or
improve
•What are the major technology trends both inside
and outside your market?
•Which technologies represent important
opportunities or disruptive threats?
•Which emerging technologies are peripheral
customer adopting?
76

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Regulatory Trends
Describes regulations and regulatory trends that
influence your business model
•Which regulatory trends influence your market?
•What rules may affect your business model?
•Which regulations and taxes affect customer
demand?
77
Socioeconomic Trends
Outlines major socioeconomic trends relevant to
your business model
•What are the key demographic trends?
•How would you characterize income and wealth
distribution in your market?
•How high are disposable incomes?
•Describe spending patterns in your market (e.g.
housing, healthcare, entertainment, etc.)?
•What portion of the population lives in urban
areas as opposed to rural settings? 78
Societal and Cultural Trends
Identifies major societal trends that may influence
your business model
•Describe key societal trends. Which shifts in
cultural or societal values affect your business
model?
•Which trends might influence buyer behavior?
79
Market Issues
Market Segments
Needs & Demands
Switching Costs
Revenue Attractiveness
MARKET FORCES
80

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Market Issues
Identifies key issues driving and transforming your
market from Customer and Offer perspectives
•What are the crucial issues affecting the
customer landscape?
•Which shifts are underway?
•Where is the market heading?
81
Market Segments
Identifies the major market segments, describes
their attractiveness and seeks to spot new
segments
•What are the most important Customer
Segments?
•Where is the biggest growth potential?
•Which segments are declining?
•Which peripheral segments deserve attention?
82
Needs & Demands
Outlines market needs and analyzes how well
they are served
•What do Customers Need?
•Where are the biggest unsatisfied Customer
Needs?
•What do Customers’ really want to get done?
•Where is demand increasing?
Declining?
83
Switching Costs
Describes elements related to customers
switching business to competitors
•What binds customers to a company and its
offer?
•What switching costs prevent customers from
defecting to competitors?
•Is it easy for customers to find and purchase
similar offers?
•How important is brand?
84

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Revenue Attractiveness
Identifies elements related to revenue
attractiveness and pricing power
•What are customers really willing to pay for?
•Where can the largest margins be achieved?
•Can customers easily find and purchase cheaper
products and services?
85
MACRO ECONOMIC FORCES
Global Market Conditions
Capital Markets
Commodities and Other Resources
Economic Infrastructure
86
Global Market Conditions
Outlines current overall conditions from a
macroeconomic perspective
•Is the economy in a boom or bust phase?
•Describe general market sentiment.
•What is the GDP growth rate?
•How high is the unemployment rate?
87
Capital Markets
Describes current capital market conditions as
they relate to your capital needs
•What is the state of the capital markets?
•How easy is it to obtain funding in your particular
market?
•Is seed capital, venture capital, public funding,
market capital or credit readily available?
•How costly is it to procure funds?
88

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Commodities and Other Resources
Highlights current prices and price trends for
resources required for your business model
•Describe the current status of markets for
commodities and other resources essential to
your business (e.g. oil prices and labor costs).
•How easy is it to obtain the resources needed to
execute your business model? (e.g. attract prime
talent)?
•How costly are they?
•Where are prices headed? 89
Economic Infrastructure
Describes the economic infrastructure of the
market in which your business operates
•How good is the (public) infrastructure in your
market?
•How would you characterize transportation,
trade, school quality and access to suppliers and
customers?
•How high are individual and corporate taxes?
•How good are public services for organizations?
•How would you rate the quality of life?
90
INDUSTRY FORCES
Competitors (Incumbents)
New entrants (Insurgents)
Substitute Products & Services
Stakeholders
Suppliers & other Value Chain Actors 91
Competitors (Incumbents)
Identifies incumbent competitors and their relative strengths
•Who are your competitors?
•Who are the dominant players in our particular sector?
•What are their competitive advantages and disadvantages?
•Describe their main offers.
•Which Customer Segments are they focusing on?
•What is their Cost Structure?
•How much influence do they exert on our Customer
Segments, Revenue Streams, and Margins?
92

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New Entrants (Insurgents)
Identifies new insurgent players and determines whether they
compete with a business model different from yours
•Who are the new entrants in your market?
•How are they different?
•What competitive advantages or disadvantages do they
have?
•Which barriers must they overcome?
•What are their Value Propositions?
•Which Customer Segments are they focused on?
•What is their cost structure?
•To what extent do they influence your Customer Segments,
Revenue Streams and Margins?
93
Substitute Products and Services
Describes potential substitutes for your offers-
including those from other markets and industries
•Which products or services could replace ours?
•How much do they cost compared to ours?
•How easy it is for customers to switch to these
substitutes?
•What business model traditions do these substitute
products stem from (e.g. high-speed trains versus
airplanes, mobile phones versus cameras, Skype
versus long-distance telephone companies)?
94
Stakeholders
Specifies which actors influence your organization
and business model
•Which stakeholders might influence your
business model?
•How influential are shareholders? Workers? The
government? Lobbyists?
95
Suppliers and other Value Chain Actors
Describes Potential substitutes for your offers-
including those from other markets and industries
•Who are the key players in your industry value
chain?
•To what extent does your business model
depend on other players?
•Are peripheral players emerging?
•Which are most profitable?
96

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97
Post it to the Wall
- Create the canvas
- Make it Visible
- Use Yellow Post-It notes
with your guesses
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FACTS here. Talk to Customers, Partners, Vendors. Design
experiments, run tests, get data
Case Study: Owlet
Owlet Infant Health Tracker Takes The Wearable
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98
Note: You may need to license the online learning tool on
Strategyzer to view this clip from Osterwalder
Strategy and Business Models – DIT PM Module 1
rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal
ROHAN PERERA
THANK YOU!
100
APPENDIX

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Additional Resources: Books
101
Additional Resources
102
BMC Online Tools:
Strategyzer
https://canvanizer.com/ (free tool)
Stattys Notes; http://www.stattys.com/
- A new generation of adhesive notes with a unique "Write
and Slide" function.
103
ADDITIONAL BMC SLIDES
104

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“Studies comparing successful and
unsuccessful innovation have found that the
primary discriminator was the degree to
which the user needs were fully
understood.”
– David Garvin, Harvard Business School
105
#1 Target
customer
segment
#2
Customer
segment
also
overseas
market new
set of
customers
• Who are your
most
important
customers?
• What are
their
archetype?
• What jobs do
they want
you to get
done for
them?
Customer Segments
106
Customer Persona/Archetypes
Profile
• Position/Title
• Age/Sex
• Role
• Discretionary budget
• Motivations
• Role models
107
•Who are you?
•How do you buy?
•What matters to you?
•Who influences you?
Customer Archetypes
Meet Paul, Sheetal and Barbara
Paul-RegularExerciser
• 20 – 45
• Aim to maintain and
track active lifestyle
• Looking for
inspiration on diet &
exercise regimes
• Gets a buzz from
exercising
Sheetal-SpiritualHealth
•
• 30 – 55
• Already follows a
healthy lifestyle
• Interested in
alternative
medicines/
treatments
• Believes eating well
is as important as
exercise
Barbara-On-OffDieter
•
• 30 +
• Yo-yo dieter, has
tried many of the fad
diets but never stuck
to one
• Needs tips and
motivation to keep
up a healthy lifestyle
• Irregular or
infrequent exerciser
108

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109
For Whom is it Relevant?
110
Customer Types
 Saboteurs
 Intermediaries (OEM’s and resellers)
111
Q: Consider Selling Business Intelligence
Software into a large business. Which types
of customers are the following?
1. CFO
2. CIO
3. Report Users
4. Line of Business
Management
5. Business Intelligence Group
inside IT
a. Economic byer
b. Influencer
c. Recommender
d. Decision maker
e. Saboteur
112

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Q: Consider Selling Business Intelligence
Software into a large business. Which types
of customers are the following?
1. CFO
2. CIO
3. Report Users
4. Line of Business
Management
5. Business Intelligence
Group inside IT
a. Economic byer
b. Influencer
c. Recommender
d. Decision maker
e. Saboteur
113
MULTI-SIDED MODEL
Buyer/Payer (e.g. Google)
Two sided markets – Buyers/Payees
1.Workers/Recruiters - LinkedIn
2.Banks/Merchants - Visa
3.Sellers/Buyers - eBay
4.Readers/Advertisers - New York Times
Each has its own value proposition
Each has its own revenue streams
One segment cannot exist without the other
114
Corporate? Consumer?
 Business to Business (B to B)
–Use or buy inside a company
 Business to Consumer (B to C)
–Use or buy for themselves
 Business to Business to Consumer (B to B
to C)
–Sell a business to get to a consumer
–Other Multi-sided Markets with multiple
customers
115
© 2004 Valista Ltd. confidential information.116
 top up
my phone
 subscribe to a
newspaper
 book a flight
download
a report
 book a hotel
pay a bill
 cancel a check
 top-up kid’s
phones
 vote online
 top-up my phone
 download a
new game
 buy an MP3
 download
a voucher
 change my ringtone
 play the lottery
 check my
phone credit
12
6
39
1
2
4
57
8
10
11
on the move at home
at play at work
premium services for subscribers
about Valista

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“No one cares how much you know, until
they know how much you care”
– Theodore Roosevelt
EMPATHY MAPS
117
Value proposition
• Which of our
customer’s
problems are we
helping to solve?
• Which Customer
needs are we
satisfying?
• What are the key
features of our
product that match
customers
problem/need?
What jobs do
they want done
, what's a good
outcomes for
them
What are
competitive
options and
how do I
differentiate
over others
118
119
119
Through what
mechanism
will your service
(product) be
delivered to your
client?
How will we GET,
KEEP and GROW
Customers? How will I
get the Value
to my
Customers?
How best to
communicat
e to each
customer
segment
Channels & Customer Relationships
120

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Two Critical Channel Questions
How do you want to sell your product?1
is subtle, but more important than the first:
How does your customer want to buy your
product?
2
121
Physical Channels
© 2012 Steve Blank
122
Web Channels
© 2012 Steve Blank
123
Customer Relationships
Physical & Web Mobile Are Different
© 2012 Steve Blank
124

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Customer Relationships
Physical Products – Get/Keep/Grow
© 2012 Steve Blank
125
Customer Relationships
Web/Mobile Products Get/Keep/Grow
© 2012 Steve Blank
126
127
CR – Facebook & Twitter

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© 2012 Steve Blank
129
How Many Will You Sell?
• How many can your channel sell?
• How much will the channel cost?
• How many customer activations?
• Revenue? Churn/Attrition rate?
customers/?
• How much will it cost to acquire a
customer?
• How many units will they buy from
each of these efforts?
130
Where Is The Money Coming From?
Revenue Model Choices
Bits
Physical
Product
Web Physical
Channel
 Direct Sales
 Products
 Subscription
 Upsell/Next Sell
 Ancillary Sales:
• Referral revenue
• Affiliate revenue
• E-mail list rentals
• Back-end offers
 Direct Sales
 Products
 Service
 Upsell/Next Sell
 Referrals
 Leasing
 Direct Sales
 Products
 Subscription
 Add-on services
 Upsell/Next Sell
 Referrals
131
“Direct” Revenue Models
 Sales: Product, app, or service sales
 Subscriptions: SAAS, games, monthly
subscription
 Freemium: use the product for free:
upsell/conversion
 Pay-per-use: revenue on a “per use” basis
 Virtual goods: selling virtual goods
 Advertising sales: unique and/or large
audience
132

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“Ancillary” Revenue Models
 Referral revenue: pay for referring traffic/customers
to other web or mobile sites or products.
 Affiliate revenue: finder’s fees/commissions from
other sites for directing customers to make
purchases at the affiliated site
 E-mail list rentals: rent your customer email lists to
advertiser partners
 Back-end offers: add-on sales items from other
companies as part of their registration or purchase
confirmation processes, or “sell” their existing traffic
to a company that strives to monetize it and share
the resulting revenue
133
the tactics you use to set the
price in each customer
segment
Pricing Model
134
How Do We Price The Product?
Pricing Model Choices
135
How Do We Price The Product?
 Product-based pricing
 Competitive pricing
 Volume pricing
 Value pricing
 Portfolio pricing
 The “razor/razor blade” model
 Subscription
 Time/Hourly Billing
 Leasing
Pricing Models - Physical
136

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How Do We Price The Product?
 Product-based pricing
 Subscriptions
 Freemium
 Pay-per-use
 Virtual goods
 Advertising sales
Pricing Models – Web/Mobile/Cloud
137
Other Words We Use In The Place Of Price
 Fee
 Commission
 Subscription
 Toll
 Interest
 Rent
 Tax
 Shipping
138
© 2012 Steve Blank 139
© 2012 Steve Blank 140

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© 2012 Steve Blank 142
143143
144
MVP

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MVP
A Minimum Viable Product (MVP) is
“that product which has just those
features and no more that allows you
to ship a product that early adopters
see and, at least some of whom
resonate with, pay you money for, and
start to give you feedback on”
145
MVP #1 Explainer video
Explainer video is a short video that explains
what your product does and why people should
buy it.
A simple, 90 seconds animation is sufficient.
e.g. Dropbox
How to make an explainer video
146
MVP #2 A Landing Place
A landing page is a web page where
visitors “land” after clicking a link from
an ad, e-mail or another type of a
campaign.
147
MVP #2 A Landing Page
• Craft your Landing Page
• Set up a Google AdWord campaign and drive traffic
to your new landing page. Even here you can let the
AdWord engine rotate different messages and test
what works best on your prospects
• Set up Google Analytics. The most important thing to
measure is conversions – percent of visitors that sign
up (or perform another desired action)
• Set up a chat to make it easy for the visitors to raise
questions
• Set up a service like Qualaroo to survey your visitors
148

Recommended for you

MVP #3 Wizard of Oz
A “Wizard of Oz” MVP is when you put up a
front that looks like a real working product, but
you manually carry out product functions. It’s
also known as “Flinstoning”.
Zappos shoes is the biggest online shoe
retailer, with annual sales exceeding $1 billion.
In his Lean Startup book, Eric Ries describes
how the founder started with a Wizard of Oz
product.
149
MVP #4 The Concierge MVP
Instead of providing a product, you start
with a manual service. But not just any
service! The service should consist of
exactly the same steps people would go
through with your product.
150
MVP #5 Piecemeal MVP
This strategy is a blend between the “Wizard
of Oz” and “Concierge” approaches. Again,
you emulate the steps people would go
through using your product – as you envision
it.
151
MVP #6 Crowd Funding
Sell it before you build it.
The basic idea is simple: launch a crowd
funding campaign on platforms such as
Kickstarter or IndieGoGo. Not only will you
validate if customers want to buy your product,
but you will also raise money.
152

Recommended for you

Strategy and Business Models – DIT PM Module 1
rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal
ROHAN PERERA
THANK YOU!

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How to build a startup new frontiers 2017

  • 1. Strategy and Business Models – DIT PM Module 1 ROHAN PERERA RAOMAL PERERA rohan@LeanDisruptor.com | @LeanDisruptor | www.facebook.com/LeanDisruptor HOW TO BUILD A STARTUP Using Business Model Innovation
  • 2. ROHAN PERERA  Entrepreneur  Cheqio and LyfeStyle  Facilitator of Entrepreneurial Studies  Godolphin Flying Start Programme, UCD Innovation Academy, DIT New Frontiers Programme, DIT iCubed Programme, SEI Impact Programme  StartUp Consultant  Pundit Arena, UniTuition  Semi-Professional Poker Player  Plays Locally/Internationally and Online  Brand Ambassador  Cheqio (http://www.cheqio.com/othersports)  Contact  Rohan@leandisruptor.com  www.linkedin.com/in/rohan-perera 2
  • 3. RAOMAL PERERA  Serial Entrepreneur  ISOCOR (NASDAQ: icor) & Network365/Valista (Intel)  Adjunct Professor of Entrepreneurial Studies  INSEAD & UCD  Business Model Innovation, Lean Startup, Leadership & Fund Raising  Consultant  Clients include: MSD (Merck), HP (Hewlett Packard), IFB (Irish Film Board), HSE (Health Service Executive), Arvato (Bertelsman), Resmed, Openet, Glandore, SEI (Social Entrepreneurs Ireland), DJEI (Dept of Jobs, Entreprise and Innovation), CWIA (Cartier Women’s Initiative Awards) …  Accolades  Finalist Ernst & Young Entrepreneur of the Year  Tech Pioneer World Economic Forum  ISA Award for Outstanding Software Achievement 3
  • 5. Learning Outcomes 5 • Identify the Problem/Need first before defining the Solution. • To introduce you to the key tools and techniques to help you build a successful startup or at least reduce the risk of failure • Learn to invent design and build powerful new business models using a set of business model innovation tools. • Understand the environment in which you operate
  • 6. Your SOLUTION is NOT my PROBLEM 6 Take 2 minutes to write down the PROBLEM/NEED you are addressing
  • 7. Introduction • Introduce yourself • What is the problem/need that you solve with your product idea 7
  • 10. Find the Gap How to find opportunities that others don’t see. - Amy Wilkinson 10
  • 11. How breakthrough ideas emerge from small discoveries Creative thinkers practice a set of simple but ingenious experimental methods • failing quickly to learn fast • tapping into the genius of play • engaging in highly immersed observation Free their minds, opening them up to making unexpected connections and perceiving invaluable insights. 11
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  • 13. Most successful entrepreneurs don’t begin with brilliant ideas – they discover them 13
  • 14. Often (first-time) entrepreneurs feel that step 1 involves writing a business plan/building a slide deck and getting funded! 14
  • 15. 15 Finding the Problem is the Hard Part – Kevin Systrom & Mike Krieger (Instagram Co_Founders) Instagram Co-Founder Kevin Systrom believes building solutions for most problems is the easy part; the hard part is finding the right problem to solve. Here he opens up about how he and fellow Co-Founder Mike Krieger identified the problems they wanted to solve around sharing photos through mobile devices. He also reminds entrepreneurs to embrace simple solutions, as they can often delight users and customers.
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  • 20. Key Question: Do I have a problem worth solving? Who has the problem? What is the top problem? How is it solved today? Where do they have the problem or in what context do they have a problem? (milkshake example) When do they have the problem? Why is it a problem? (root cause analysis. Why is the single best word for creating value in a start-up and an established business) - It is not possible to know what the top problem is without knowing where, when and why they have a problem. Also the questions may not be answered in sequence e.g. will we find the problem and the person with the problem at the same time? Identify the Problem 20
  • 21. Take a stab at defining the solution Build a demo (MVP) Test it with assumed customers Will the solution work? (can the proposed solution create customer value that exceeds the cost to produce and deliver the solution to the customer) Who it the early adopter? Does the pricing model work? Define the Solution 21
  • 22. Build an MVP Soft launch to early adopters Do they realise the unique value proposition How will you find enough early adopters to support learning? Are you getting paid? Analysis: There needs to be a bit of intuitive thinking around the MVP. We need to ask and then guess how we can create the most unique customer value in the shortest amount of time with the least resources. With a bit of thinking and an equal amount of action we have a chance of appropriating real value in the short term VALIDATE THE QUALITATIVELY Validate Qualitatively 22
  • 23. Launch your refined product to a larger audience Have you built something people want? How will you reach customers at scale Do you have a viable business? Analysis: A refined product needs to test both qualitatively and quantitatively in order to find out why the refined product creates customers’ value and how large is the market potential? Can this business produce (organically or through investment) enough cash in the short term in order that customers value - cost to produce = profit Validate Quantitavely 23
  • 27. You may have jumped to the “ABC” or “12 13 14” or “financial institution” Conclusions Without EVEN KNOWING or CONSIDERING alternatives! 27
  • 28. I force you to use your rational brain only? 28
  • 30. Our subjective judgements are biased: we are far too willing to believe research findings based on inadequate evidence and prone to collect too few observations in our own research 30
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  • 32. 32 Knowledge is having the right answer. Intelligence is asking the right questions The Art of Customer Interviewing
  • 33. What is a Startup? A TEMPORARY organisation DESIGNED to SEARCH ……. For REPEATABLE and SCALABLE Business Models Startups are NOT just SMALLER versions of a LARGE Company 33
  • 34. Strategy for Startups • Planning before the Plan • Use the Osterwalder Canvas to do two things: – Organise our thinking – Get out of the Building to turn the hypothesis into facts • SEARCH for the Business Model First and then Write it Up (Business Plan) 34
  • 35. Customer vs. Product Development • More startups fail from a lack of customers than from a failure of Product Development. • We have all the processes to manage the Engineering Risk • No processes to manage the Customer Risk. 35
  • 37. What is a business model? A business model describes the rationale of how an organisation Creates, Delivers and Captures value 37
  • 38. Why we need a shared language for business models? 38 https://strategyzer.com/academy/cours e/business-models-that-work-and- value-propositions-that-sell/1/1 Note: You may need to license the online learning tool on Strategyzer to view this clip from Osterwalder
  • 39. Use of BMC in Established Companies IMPROVE ----------------------------------INVENT Know Problem/Know Solution -Unknown Problem/Unknown Solution ------EXECUTE -------------------------SEARCH------------ 39
  • 42. 42 “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” - Charles Darwin
  • 43. Getting from Business Idea to Business Model 43
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  • 47. Getting started with the canvas 47
  • 49. Group Exercise: 20 Mins Develop a BMC for a cinema using an A1 canvas poster. 49
  • 50. Hypotheses or Guesses • The canvas is a set of Hypotheses. i.e. Guesses. • It helps us to organize our thinking! It is not about functional organisation but about the business. • The real question is How do we change those guesses into FACTS? 50
  • 51. Customer Development Process Post it to the Wall - Create the canvas - Make it Visible - Use Yellow Post-It notes with your guesses Get Out of the Building and Test your hypotheses. There are NO FACTS here. Talk to Customers, Partners, Vendors. Design experiments, run tests, get data 51
  • 52. What I learned…  getting an interview right is not an easy task  while I wanted to solve one problem I discovered another more relevant one  if you have a good relationship with people and you offer a proven service they will give you a chance  I discovered that my initial business idea was not the best idea  through customer interviews I redefined my idea  patience is important…I am still trying to get in touch with some of my potential key partners  people in our industry like to play safe where they can
  • 53. Result Pay every 6 months rather than every month Use tangible gifts as “hooks” Choose some major race meetings to start with Tips and information on races and racetracks worldwide Limit the number of TC membership to ensure the service quality and to create a sense of exclusiveness Consultancy, not translation or travel agency 3 job offers, 3 want to join the business, 1 willing to invest
  • 54. Exercise: 20 Mins Develop a BMC for your idea using an A1 canvas poster. Work in groups of 3 and pick one of the projects. 54
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  • 56. Strategy and Business Models – DIT PM Module 1 rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal ROHAN PERERA SESSION TWO
  • 58. 58
  • 60. Clayton Christensen 60 Jobs to be Done “If you understand the job, how to improve the product becomes just obvious”
  • 61. “People buy products and services to get jobs done. As people complete these jobs, they have certain measurable outcomes that they are attempting to achieve. It links a company's value creation activities to customer-defined metrics.” - Ulwick OUTCOME-DRIVEN INNOVATION 61
  • 62. Exercise: 20 Mins Develop a VP canvas for Airbnb. Assume you are the Owner of the Apartment Work in groups of 3. 62
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  • 70. Exercise: 20 Mins Each Develop a VP canvas for a CS in your BMC Work in groups of 3. 70
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  • 73. 73 Environment Map Helps you understand the context in which you create your business Business Modelling Tools – Zoom Out
  • 75. KEY TRENDS Technology Trends Regulatory Trends Societal & Cultural Trends Socioeconomic Trends 75
  • 76. Technology Trends Identifies technology trends that could threaten your business model or enable it to evolve or improve •What are the major technology trends both inside and outside your market? •Which technologies represent important opportunities or disruptive threats? •Which emerging technologies are peripheral customer adopting? 76
  • 77. Regulatory Trends Describes regulations and regulatory trends that influence your business model •Which regulatory trends influence your market? •What rules may affect your business model? •Which regulations and taxes affect customer demand? 77
  • 78. Socioeconomic Trends Outlines major socioeconomic trends relevant to your business model •What are the key demographic trends? •How would you characterize income and wealth distribution in your market? •How high are disposable incomes? •Describe spending patterns in your market (e.g. housing, healthcare, entertainment, etc.)? •What portion of the population lives in urban areas as opposed to rural settings? 78
  • 79. Societal and Cultural Trends Identifies major societal trends that may influence your business model •Describe key societal trends. Which shifts in cultural or societal values affect your business model? •Which trends might influence buyer behavior? 79
  • 80. Market Issues Market Segments Needs & Demands Switching Costs Revenue Attractiveness MARKET FORCES 80
  • 81. Market Issues Identifies key issues driving and transforming your market from Customer and Offer perspectives •What are the crucial issues affecting the customer landscape? •Which shifts are underway? •Where is the market heading? 81
  • 82. Market Segments Identifies the major market segments, describes their attractiveness and seeks to spot new segments •What are the most important Customer Segments? •Where is the biggest growth potential? •Which segments are declining? •Which peripheral segments deserve attention? 82
  • 83. Needs & Demands Outlines market needs and analyzes how well they are served •What do Customers Need? •Where are the biggest unsatisfied Customer Needs? •What do Customers’ really want to get done? •Where is demand increasing? Declining? 83
  • 84. Switching Costs Describes elements related to customers switching business to competitors •What binds customers to a company and its offer? •What switching costs prevent customers from defecting to competitors? •Is it easy for customers to find and purchase similar offers? •How important is brand? 84
  • 85. Revenue Attractiveness Identifies elements related to revenue attractiveness and pricing power •What are customers really willing to pay for? •Where can the largest margins be achieved? •Can customers easily find and purchase cheaper products and services? 85
  • 86. MACRO ECONOMIC FORCES Global Market Conditions Capital Markets Commodities and Other Resources Economic Infrastructure 86
  • 87. Global Market Conditions Outlines current overall conditions from a macroeconomic perspective •Is the economy in a boom or bust phase? •Describe general market sentiment. •What is the GDP growth rate? •How high is the unemployment rate? 87
  • 88. Capital Markets Describes current capital market conditions as they relate to your capital needs •What is the state of the capital markets? •How easy is it to obtain funding in your particular market? •Is seed capital, venture capital, public funding, market capital or credit readily available? •How costly is it to procure funds? 88
  • 89. Commodities and Other Resources Highlights current prices and price trends for resources required for your business model •Describe the current status of markets for commodities and other resources essential to your business (e.g. oil prices and labor costs). •How easy is it to obtain the resources needed to execute your business model? (e.g. attract prime talent)? •How costly are they? •Where are prices headed? 89
  • 90. Economic Infrastructure Describes the economic infrastructure of the market in which your business operates •How good is the (public) infrastructure in your market? •How would you characterize transportation, trade, school quality and access to suppliers and customers? •How high are individual and corporate taxes? •How good are public services for organizations? •How would you rate the quality of life? 90
  • 91. INDUSTRY FORCES Competitors (Incumbents) New entrants (Insurgents) Substitute Products & Services Stakeholders Suppliers & other Value Chain Actors 91
  • 92. Competitors (Incumbents) Identifies incumbent competitors and their relative strengths •Who are your competitors? •Who are the dominant players in our particular sector? •What are their competitive advantages and disadvantages? •Describe their main offers. •Which Customer Segments are they focusing on? •What is their Cost Structure? •How much influence do they exert on our Customer Segments, Revenue Streams, and Margins? 92
  • 93. New Entrants (Insurgents) Identifies new insurgent players and determines whether they compete with a business model different from yours •Who are the new entrants in your market? •How are they different? •What competitive advantages or disadvantages do they have? •Which barriers must they overcome? •What are their Value Propositions? •Which Customer Segments are they focused on? •What is their cost structure? •To what extent do they influence your Customer Segments, Revenue Streams and Margins? 93
  • 94. Substitute Products and Services Describes potential substitutes for your offers- including those from other markets and industries •Which products or services could replace ours? •How much do they cost compared to ours? •How easy it is for customers to switch to these substitutes? •What business model traditions do these substitute products stem from (e.g. high-speed trains versus airplanes, mobile phones versus cameras, Skype versus long-distance telephone companies)? 94
  • 95. Stakeholders Specifies which actors influence your organization and business model •Which stakeholders might influence your business model? •How influential are shareholders? Workers? The government? Lobbyists? 95
  • 96. Suppliers and other Value Chain Actors Describes Potential substitutes for your offers- including those from other markets and industries •Who are the key players in your industry value chain? •To what extent does your business model depend on other players? •Are peripheral players emerging? •Which are most profitable? 96
  • 97. Review: Customer Development Process 97 Post it to the Wall - Create the canvas - Make it Visible - Use Yellow Post-It notes with your guesses Get Out of the Building and Test your hypotheses. There are NO FACTS here. Talk to Customers, Partners, Vendors. Design experiments, run tests, get data
  • 98. Case Study: Owlet Owlet Infant Health Tracker Takes The Wearable Revolution Into The Crib 98 Note: You may need to license the online learning tool on Strategyzer to view this clip from Osterwalder
  • 99. Strategy and Business Models – DIT PM Module 1 rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal ROHAN PERERA THANK YOU!
  • 102. Additional Resources 102 BMC Online Tools: Strategyzer https://canvanizer.com/ (free tool) Stattys Notes; http://www.stattys.com/ - A new generation of adhesive notes with a unique "Write and Slide" function.
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  • 105. “Studies comparing successful and unsuccessful innovation have found that the primary discriminator was the degree to which the user needs were fully understood.” – David Garvin, Harvard Business School 105
  • 106. #1 Target customer segment #2 Customer segment also overseas market new set of customers • Who are your most important customers? • What are their archetype? • What jobs do they want you to get done for them? Customer Segments 106
  • 107. Customer Persona/Archetypes Profile • Position/Title • Age/Sex • Role • Discretionary budget • Motivations • Role models 107 •Who are you? •How do you buy? •What matters to you? •Who influences you?
  • 108. Customer Archetypes Meet Paul, Sheetal and Barbara Paul-RegularExerciser • 20 – 45 • Aim to maintain and track active lifestyle • Looking for inspiration on diet & exercise regimes • Gets a buzz from exercising Sheetal-SpiritualHealth • • 30 – 55 • Already follows a healthy lifestyle • Interested in alternative medicines/ treatments • Believes eating well is as important as exercise Barbara-On-OffDieter • • 30 + • Yo-yo dieter, has tried many of the fad diets but never stuck to one • Needs tips and motivation to keep up a healthy lifestyle • Irregular or infrequent exerciser 108
  • 109. 109
  • 110. For Whom is it Relevant? 110
  • 111. Customer Types  Saboteurs  Intermediaries (OEM’s and resellers) 111
  • 112. Q: Consider Selling Business Intelligence Software into a large business. Which types of customers are the following? 1. CFO 2. CIO 3. Report Users 4. Line of Business Management 5. Business Intelligence Group inside IT a. Economic byer b. Influencer c. Recommender d. Decision maker e. Saboteur 112
  • 113. Q: Consider Selling Business Intelligence Software into a large business. Which types of customers are the following? 1. CFO 2. CIO 3. Report Users 4. Line of Business Management 5. Business Intelligence Group inside IT a. Economic byer b. Influencer c. Recommender d. Decision maker e. Saboteur 113
  • 114. MULTI-SIDED MODEL Buyer/Payer (e.g. Google) Two sided markets – Buyers/Payees 1.Workers/Recruiters - LinkedIn 2.Banks/Merchants - Visa 3.Sellers/Buyers - eBay 4.Readers/Advertisers - New York Times Each has its own value proposition Each has its own revenue streams One segment cannot exist without the other 114
  • 115. Corporate? Consumer?  Business to Business (B to B) –Use or buy inside a company  Business to Consumer (B to C) –Use or buy for themselves  Business to Business to Consumer (B to B to C) –Sell a business to get to a consumer –Other Multi-sided Markets with multiple customers 115
  • 116. © 2004 Valista Ltd. confidential information.116  top up my phone  subscribe to a newspaper  book a flight download a report  book a hotel pay a bill  cancel a check  top-up kid’s phones  vote online  top-up my phone  download a new game  buy an MP3  download a voucher  change my ringtone  play the lottery  check my phone credit 12 6 39 1 2 4 57 8 10 11 on the move at home at play at work premium services for subscribers about Valista
  • 117. “No one cares how much you know, until they know how much you care” – Theodore Roosevelt EMPATHY MAPS 117
  • 118. Value proposition • Which of our customer’s problems are we helping to solve? • Which Customer needs are we satisfying? • What are the key features of our product that match customers problem/need? What jobs do they want done , what's a good outcomes for them What are competitive options and how do I differentiate over others 118
  • 120. Through what mechanism will your service (product) be delivered to your client? How will we GET, KEEP and GROW Customers? How will I get the Value to my Customers? How best to communicat e to each customer segment Channels & Customer Relationships 120
  • 121. Two Critical Channel Questions How do you want to sell your product?1 is subtle, but more important than the first: How does your customer want to buy your product? 2 121
  • 122. Physical Channels © 2012 Steve Blank 122
  • 123. Web Channels © 2012 Steve Blank 123
  • 124. Customer Relationships Physical & Web Mobile Are Different © 2012 Steve Blank 124
  • 125. Customer Relationships Physical Products – Get/Keep/Grow © 2012 Steve Blank 125
  • 126. Customer Relationships Web/Mobile Products Get/Keep/Grow © 2012 Steve Blank 126
  • 127. 127
  • 128. CR – Facebook & Twitter
  • 129. © 2012 Steve Blank 129
  • 130. How Many Will You Sell? • How many can your channel sell? • How much will the channel cost? • How many customer activations? • Revenue? Churn/Attrition rate? customers/? • How much will it cost to acquire a customer? • How many units will they buy from each of these efforts? 130
  • 131. Where Is The Money Coming From? Revenue Model Choices Bits Physical Product Web Physical Channel  Direct Sales  Products  Subscription  Upsell/Next Sell  Ancillary Sales: • Referral revenue • Affiliate revenue • E-mail list rentals • Back-end offers  Direct Sales  Products  Service  Upsell/Next Sell  Referrals  Leasing  Direct Sales  Products  Subscription  Add-on services  Upsell/Next Sell  Referrals 131
  • 132. “Direct” Revenue Models  Sales: Product, app, or service sales  Subscriptions: SAAS, games, monthly subscription  Freemium: use the product for free: upsell/conversion  Pay-per-use: revenue on a “per use” basis  Virtual goods: selling virtual goods  Advertising sales: unique and/or large audience 132
  • 133. “Ancillary” Revenue Models  Referral revenue: pay for referring traffic/customers to other web or mobile sites or products.  Affiliate revenue: finder’s fees/commissions from other sites for directing customers to make purchases at the affiliated site  E-mail list rentals: rent your customer email lists to advertiser partners  Back-end offers: add-on sales items from other companies as part of their registration or purchase confirmation processes, or “sell” their existing traffic to a company that strives to monetize it and share the resulting revenue 133
  • 134. the tactics you use to set the price in each customer segment Pricing Model 134
  • 135. How Do We Price The Product? Pricing Model Choices 135
  • 136. How Do We Price The Product?  Product-based pricing  Competitive pricing  Volume pricing  Value pricing  Portfolio pricing  The “razor/razor blade” model  Subscription  Time/Hourly Billing  Leasing Pricing Models - Physical 136
  • 137. How Do We Price The Product?  Product-based pricing  Subscriptions  Freemium  Pay-per-use  Virtual goods  Advertising sales Pricing Models – Web/Mobile/Cloud 137
  • 138. Other Words We Use In The Place Of Price  Fee  Commission  Subscription  Toll  Interest  Rent  Tax  Shipping 138
  • 139. © 2012 Steve Blank 139
  • 140. © 2012 Steve Blank 140
  • 141. © 2012 Steve Blank 141
  • 142. © 2012 Steve Blank 142
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  • 145. MVP A Minimum Viable Product (MVP) is “that product which has just those features and no more that allows you to ship a product that early adopters see and, at least some of whom resonate with, pay you money for, and start to give you feedback on” 145
  • 146. MVP #1 Explainer video Explainer video is a short video that explains what your product does and why people should buy it. A simple, 90 seconds animation is sufficient. e.g. Dropbox How to make an explainer video 146
  • 147. MVP #2 A Landing Place A landing page is a web page where visitors “land” after clicking a link from an ad, e-mail or another type of a campaign. 147
  • 148. MVP #2 A Landing Page • Craft your Landing Page • Set up a Google AdWord campaign and drive traffic to your new landing page. Even here you can let the AdWord engine rotate different messages and test what works best on your prospects • Set up Google Analytics. The most important thing to measure is conversions – percent of visitors that sign up (or perform another desired action) • Set up a chat to make it easy for the visitors to raise questions • Set up a service like Qualaroo to survey your visitors 148
  • 149. MVP #3 Wizard of Oz A “Wizard of Oz” MVP is when you put up a front that looks like a real working product, but you manually carry out product functions. It’s also known as “Flinstoning”. Zappos shoes is the biggest online shoe retailer, with annual sales exceeding $1 billion. In his Lean Startup book, Eric Ries describes how the founder started with a Wizard of Oz product. 149
  • 150. MVP #4 The Concierge MVP Instead of providing a product, you start with a manual service. But not just any service! The service should consist of exactly the same steps people would go through with your product. 150
  • 151. MVP #5 Piecemeal MVP This strategy is a blend between the “Wizard of Oz” and “Concierge” approaches. Again, you emulate the steps people would go through using your product – as you envision it. 151
  • 152. MVP #6 Crowd Funding Sell it before you build it. The basic idea is simple: launch a crowd funding campaign on platforms such as Kickstarter or IndieGoGo. Not only will you validate if customers want to buy your product, but you will also raise money. 152
  • 153. Strategy and Business Models – DIT PM Module 1 rohan@LeanDisruptor.com | @LeanDisruptor | www.linkedin.com/in/raomal ROHAN PERERA THANK YOU!