Mentor update 6 partners
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This document provides teaching notes on partnerships for mentors. It outlines teaching objectives focused on revenue models, pricing, and partnerships. It recommends asking students about their revenue model, pricing strategy, and potential partners. Common student errors include confusing pricing tactics with strategy, pricing based on costs rather than value, and underestimating the difficulty of acquiring partners. Mentors should emphasize the different types of partners, risks of partnerships, and that partnerships are not necessary for early customers but may be needed for mainstream adoption.
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The document discusses the development of a business model for a cloud computing marketplace. It describes how the founders conducted customer interviews, analyzed the market, and pivoted their business model and product focus multiple times based on feedback. They ultimately developed a two-tiered sales model focusing on capacity planning and cloud lifecycle management, targeting enterprises through both inside and field sales with the help of cloud consulting partners.
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The document discusses creating an online platform called "Trusted Advice" that provides product recommendations from self-selected online communities. It would incentivize people to join communities based on shared interests to provide advice and recommendations on relevant products. The first communities would be MBAs and Stanford alumni providing advice on books. It would also allow people to easily express preferences on products and make purchases from vetted vendors. The goal is to test this with an experiment focused on MBA students recommending admission books. If successful, it could expand to more communities and products over time.
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The document discusses Agora, a company that aims to match buyers' computing needs with available cloud infrastructure resources through an online marketplace. Key points:
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Chapter 4 - Islamic Financial Institutions in Malaysia.pptx
Chapter 4 - Islamic Financial Institutions in Malaysia.pptxMohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
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Mentor update 6 partners
- 2. Teaching Objectives • Don’t let them slow down the pace of discovery and customer calls • Make sure teams continue to: – – – – Annotate the business model canvas Update their Discovery Narratives on LaunchPad Central Include diagrams of each part of the hypothesis Acknowledge you’ve been reading their posts (and comment whenever you can) • Focus your main critique on their understanding of revenue models and pricing and the importance of partnerships to their business
- 3. How? • Ask (recap on Revenue Model): “What is your revenue model? Why did you select it? How do customers buy today? What do they pay today? What do competitors charge? Does it results in a large company with sufficient profit” • Ask (on Partners):How many partners have you spoken to? What alignment does this partner have with your customers? What need do ou solve for this partner and how important is it to the partner? What economic benefit does this partner provide your business? How many partners are there like this?
- 4. Common Student Errors • Pricing – Students confuse pricing tactics with a revenue model strategy – Students price on cost vs. value – No appreciation of competitive pricing or offerings; revenue adds up to a small business • Partners – Student think their business has to do everything and don’t realize the value of a partner in their value delivery – Students assume getting a partner is relatively easy – Students confuse partnership interest w/closing a deal – Students confuse closing a deal w/successful execution
- 5. Take Away from Udacity Lecture • Students (and their mentors) should understand: – What is a partner? – Types of partners – Risks associated with having a partner and how to manage them
- 6. Mentors should emphasize: • Who are partners? • The difference between strategic alliances, competition, joint ventures, buyers, suppliers and licensees • While partners are critical for large companies, strategic alliances and joint partnerships are not needed to servce Earlyvangelists. They are needed for mainstream customers • For startups, partners can monopolize your time • Partners must have aligned goals and customers