Jeff Cutuli gave a presentation on business models for startups at the Santa Clara County Small Business Summit. He discussed that a business model is not just a play thing, puzzle or process, but rather a tool for startups to discover, create, deliver and capture value. He emphasized that business models require skills in customer development like testing assumptions and collecting statistically valid customer feedback. Cutuli also presented several common business model canvases and tools that startups can use to help validate their ideas, including the business model canvas, lean canvas, and customer development process.
Ideation, business models; and how and where to startSaberi Marais
Presentation promotes the Lean Startup principles and includes Steve Blank's cusotmer development process and Osterwalder Business Model generation canvas as recommended by the authors
Lean Startup Roadmap workshop I conduct in Russian. Combines the methodology from Steve Blank, Eric Ries, Ash Maurya, and others. The intention is to provide practical steps individuals new to business and entrepreneurship can take in order to increase the likelihood of success in their new venture.
The full workshop usually takes 6-8 hours.
Ideation, business models; and how and where to startSaberi Marais
Presentation promotes the Lean Startup principles and includes Steve Blank's cusotmer development process and Osterwalder Business Model generation canvas as recommended by the authors
Lean Startup Roadmap workshop I conduct in Russian. Combines the methodology from Steve Blank, Eric Ries, Ash Maurya, and others. The intention is to provide practical steps individuals new to business and entrepreneurship can take in order to increase the likelihood of success in their new venture.
The full workshop usually takes 6-8 hours.
20 Mistakes that Kill Startups (According to Experts)Vitaliy Verbenko
No matter what anyone says, there is no secret recipe for success. Over half of startups out there can’t make it past their fifth year on the market. Why is that? Simply put, they make a number of mistakes which we’ll try to dissect in this post.
Top Tips and Tricks for creating a Kick Ass Pitch DeckEllena Ophira
Creating a Pitch Deck is fundamentally important when raising Investment. But where do you start? It can be an overwhelming challenge, but in this presentation Ellena, the CEO and Founder of smart WedTech Startup Weddingly, will give you 10 easy to follow steps to create a kick ass Pitch Deck, that hits all the key points and leaves a lasting impression.
Presentation includes:
Template ideas
Layout options and examples from leading businesses
Fundamentals to include
Top Tips from her own funding journey
Plus, some extra tools that will help you with your funding process
Good luck!
It is a given that we will all exit our business at some point - willingly or not! - and it is never to soon to start planning that exit.
There is a link at the end of this deck to the associated blog and webinar recording
Startups don't win because of a great vision, but because of a superior strategy. If you want to have the superior strategy, you must simply have a better customer insight. Customer discovery principles can help you to get real insights about your customers.
The first rule is to fall in love with a problem, not your solution or business idea. You must have a clear picture what your product is hired to do. With customer interviews and different types of tests your job is to prove value hypothesis (that people are prepared to pay for your solution).
You can write down all your hypotheses on business model canvas, running lean canvas or even in a spreadsheet. Then you have to constantly sketch out alternative business models by asking yourself difficult questions and testing different assumptions.
Steps to customer discovery include developing a vision, setting the hypotheses, getting out of the building and performing a reality checks. The best way to start the customer discovery process is with the riskiest assumptions.
Important tools that can help you with customer discovery are also segmentation, personas, empathy map and value proposition canvas. After exploiting all the tools you should have a clear picture what are your customer's pains and gains and what are they willing to pay for.
When you are doing the customer discovery interviews to get the market insights you have to avoid doing any behavior predictions or being satisfied with compliments, opinions or stalling. What are you looking for is a real commitment from early-evangelists.
Remember, wrong assumptions are mother of all fu*ck-ups, and with customer discovery you can make sure you are not building your business based on the wrong assumptions.
Beyond Buzzwords: An Introduction to The Lean StartupPaul Parent
Eric Ries's book, The Lean Startup, supplied new language to conversations about entrepreneurship. Ries brought important ideas to a wide audience and transformed the way people approach startups. This talk will introduce the fundamental concepts from The Lean Startup. Learn what makes a startup distinct from other businesses. Walk through the core elements of the methodology. Understand the meaning and context for widely-used terms like 'MVP', 'product / market fit', and 'pivot'.
This talk was prepared for PHX Startup Week in February 2016.
• Who is an Entrepreneur ?
• The reality of a making money
• What kind of business should I start?
• What are the biggest challenges to starting a business?
• Where can I get money for my business?
• The 4 Crucial Aspects of a business
2017 business coaching for startups and the self employedFraser Hay
2017 business coaching for startups and the self employed is an overview of the start-up and self-employment coaching program for entrepreneurs who want to start and grow their business.
Business coaching
start-ups
self-employed
self-employment
entrepreneurship
marketing coaching
business start-up
starting your own business
startup
startups
self employment coaching
start your own business
entrepreneurial skills
20 Mistakes that Kill Startups (According to Experts)Vitaliy Verbenko
No matter what anyone says, there is no secret recipe for success. Over half of startups out there can’t make it past their fifth year on the market. Why is that? Simply put, they make a number of mistakes which we’ll try to dissect in this post.
Top Tips and Tricks for creating a Kick Ass Pitch DeckEllena Ophira
Creating a Pitch Deck is fundamentally important when raising Investment. But where do you start? It can be an overwhelming challenge, but in this presentation Ellena, the CEO and Founder of smart WedTech Startup Weddingly, will give you 10 easy to follow steps to create a kick ass Pitch Deck, that hits all the key points and leaves a lasting impression.
Presentation includes:
Template ideas
Layout options and examples from leading businesses
Fundamentals to include
Top Tips from her own funding journey
Plus, some extra tools that will help you with your funding process
Good luck!
It is a given that we will all exit our business at some point - willingly or not! - and it is never to soon to start planning that exit.
There is a link at the end of this deck to the associated blog and webinar recording
Startups don't win because of a great vision, but because of a superior strategy. If you want to have the superior strategy, you must simply have a better customer insight. Customer discovery principles can help you to get real insights about your customers.
The first rule is to fall in love with a problem, not your solution or business idea. You must have a clear picture what your product is hired to do. With customer interviews and different types of tests your job is to prove value hypothesis (that people are prepared to pay for your solution).
You can write down all your hypotheses on business model canvas, running lean canvas or even in a spreadsheet. Then you have to constantly sketch out alternative business models by asking yourself difficult questions and testing different assumptions.
Steps to customer discovery include developing a vision, setting the hypotheses, getting out of the building and performing a reality checks. The best way to start the customer discovery process is with the riskiest assumptions.
Important tools that can help you with customer discovery are also segmentation, personas, empathy map and value proposition canvas. After exploiting all the tools you should have a clear picture what are your customer's pains and gains and what are they willing to pay for.
When you are doing the customer discovery interviews to get the market insights you have to avoid doing any behavior predictions or being satisfied with compliments, opinions or stalling. What are you looking for is a real commitment from early-evangelists.
Remember, wrong assumptions are mother of all fu*ck-ups, and with customer discovery you can make sure you are not building your business based on the wrong assumptions.
Beyond Buzzwords: An Introduction to The Lean StartupPaul Parent
Eric Ries's book, The Lean Startup, supplied new language to conversations about entrepreneurship. Ries brought important ideas to a wide audience and transformed the way people approach startups. This talk will introduce the fundamental concepts from The Lean Startup. Learn what makes a startup distinct from other businesses. Walk through the core elements of the methodology. Understand the meaning and context for widely-used terms like 'MVP', 'product / market fit', and 'pivot'.
This talk was prepared for PHX Startup Week in February 2016.
• Who is an Entrepreneur ?
• The reality of a making money
• What kind of business should I start?
• What are the biggest challenges to starting a business?
• Where can I get money for my business?
• The 4 Crucial Aspects of a business
2017 business coaching for startups and the self employedFraser Hay
2017 business coaching for startups and the self employed is an overview of the start-up and self-employment coaching program for entrepreneurs who want to start and grow their business.
Business coaching
start-ups
self-employed
self-employment
entrepreneurship
marketing coaching
business start-up
starting your own business
startup
startups
self employment coaching
start your own business
entrepreneurial skills
Business Coaching Essentials and FundamentalsGary B. Henson
Business Coaching 101: How to strike out on your own, generate 6- or 7-figures as a business coach, and provide MASSIVE transformation to your clients. Learn all the basics. Swipe our time-tested templates. Live BIGGER! BusinessCoach.com.
These slides supported the session I ran at The Mobile Academy London. The session was to introduce Agile and Lean practices. The session was based on principles which should have set the scene for the attendees to use in their workplaces or understand Agile some more. We discussed Scrum as an example framework and the value of inspect and adapt processes to support startups and enterprises.
I was considering to record myself speaking over these slides to give it more context. If you would be interested, let me know and if I get more that 5 requests, I'll do it.
Leveraging UX & Kanban to Unleash Your Inner StartupPete Kinser
UX is more than a discipline, it's a mindset. Kanban is about measurement and flow. Pairing the two means we take an experience-first mindset and measure feedback and flow in order to gain confidence in what we're delivering to our customers.
Need more insights? Please reach out to Pete Kinser: @petekinser or Colleen Johnson: @scrumhive.
Parasoft delivers a complete framework to create, manage, and extract greater value from unit tests. We help you exercise and test an incomplete system—enabling you to identify problems when they are least difficult, costly, and time-consuming to fix. This reduces the length and cost of downstream processes such as debugging. Moreover, since all tests are written at the unit level, the test suite can be run independent of the complete system. This allows you to isolate code behavior changes, reduces setup complexities, and makes it practical to execute the test suite on a daily basis.
LEAN STARTUP LIFECYCLE: 5 Stages in the Evolution of Billion Dollar $tartupsRod King, Ph.D.
This presentation builds on Steve Blank's three stage model for the evolution of scalable startups. Steve Blank's three stages are Startup, Transition, and Company. The above "Lean Startup Lifecycle" includes these three stages as well as illustrates other ideas such as Problem-Solution Fit, Product-Market Fit, and Business Model Fit/Scaling. Unlike in Steve Blank's approach, the Lean Startup Lifecycle presents the OTHER Loop as tool for solving novel (emergent) and routine (deliberate) problems when building a scalable startup.
The Lean Startup Lifecycle can be used as a descriptive tool to comprehensively explain the evolution of scalable startups as well as a prescriptive tool or roadmap for guiding the development of scalable startups or Billion Dollar Companies. The Lean Startup Lifecycle posits that every Billion Dollar $tartup goes through forms in its lifecycle: Adaptive Startup; Shaping Startup; Transition; Visionary Company; Classic Company.
Discover how to leverage your existing professional skills to create a thriving and profitable coaching practice. Learn the proven 4-phase coaching process that will greatly boost your confidence to effectively coach others, and transform the lives or your clients. Walk away with numerous business and marketing strategies that you can apply immediately to attract more clients and make your practice financially sustainable. Presented by, Jonathan Jordan, a top-ranked, internationally renowned executive & business coach.
The Business Model Canvas - Your Plan For Success (Startup Weekend Montreal)Davender Gupta
Your Business Model describes how you create, deliver and harvest value. Putting it down on one sheet of paper gives you a roadmap as to how to develop your idea and turn it into a business.
Presented at Startup Weekend Montreal, July 13 2013
http://montreal.startupweekend.org
Presenter:
-------
Coach Davender Gupta MSc
Venture Catalyst - Accélérateur d'entrepreneuriat
Startup-Académie
I guide high-performance entrepreneurs to develop the knowledge, skills and confidence to change the world.
Je guide les entrepreneurs haute-performance à développer les connaissances, les compétences et la confiance pour transformer le futur.
coach@davender.com
Québec: 418-948-1553
Montreal: 514-448-1894
www.startupacademie.com
www.coachdavender.com
Recently, I read what may be the best book to date on tactically applying Lean Storyboarding to risky projects and decision-making in organizations. The book is “The Innovator’s Method: Bringing the Lean Startup Into Your Organization” by Nathan Furr & Jeff Dyer. Lean Startup Storyboarding focuses on answering the Lean Startup Question: How to rapidly discover and solve a Big Urgent Market Problem (BUMP)? Lean Startup Storyboarding is synonymous with Lean Startup Problem Solving as well as Lean System Problem Solving.
For those, who are not familiar with Lean Storyboarding, one could use the formal definition below, which I developed based on Eric Ries’s seminal book, “The Lean Startup.”
Lean Storyboarding refers to a tightly integrated set of tools for rapid lean improvement and innovation that lead to radically successful business models (under conditions of extreme uncertainty).
Small, medium, and large businesses are eager to adopt Lean Storyboarding as it promises two things. The first is achievement of the objective of “rapid lean improvement and innovation” which is regarded (a la Joseph Schumpeter’s “Creative destruction” as well as John Boyd’s “OODA Loop”) as a prerequisite for business model survival and growth especially in a hypercompetitive environment. The second reason is rapidly achieving the highly desirable outcome of radically successful business models that are developed under conditions of extreme uncertainty. In other words, Lean Storyboarding promises to solve, in one swoop, the Big Urgent Market Problem (BUMP) of slow customer problem solving, business decision-making, and experimentation (execution) as well as wasteful innovation.
Given the attractive value proposition of Lean Storyboarding, more and more large organizations want to act like “Lean Startups” while adopting Lean Storyboarding. However, unlike in the Six Sigma methodology, there is currently no “standard” framework, process, template, or “operating manual” for Lean Storyboarding, that is, rapid application of the Lean Startup method to improvement and innovation projects. Lean Storyboarding is a nascent field. At the moment, Lean Startup projects are mainly guided by Lean Startup principles and ideas as outlined in Ries’s book, “The Lean Startup,” nothwithstanding a lot of disparate templates and “canvases” as well as acronyms and buzzwords: MVP; GOOB; Build-Measure-Learn Loop; Hypothesis; Experiment; Validated Learning; Problem-Solution Fit; Product-Market Fit; Pivot. The result is Slow Lean Startup Problem Solving (LSPS) which defeats the primary purpose and essence of a Lean Startup.
The approach of Lean Storyboarding is designed to solve the above mentioned problems while helping organizations rapidly do lean improvement and innovation projects.
Executive Coaching - Purpose, Process and OutcomesCraig Juengling
Understanding how to develop leaders is crucial to succession planning and effectively managing growth in your business. Executive Coaching is one of the most powerful development tools available to the CEO and HR strategy leaders. Understanding when to use coaching is important. Learn more from this presentation.
I would like twenty minutes of your time in which I will present 50 (I know a lot) slides to review 12 Models related to Lean Startup so that I can then introduce the
‘Startup Business Planning Jigsaw’.
The twelve models are:
► Business Model Canvas - Alexander Osterwalder
► Search v's Execution - Steve Blank & Bob Dorf
► Build-Measure-Learn - Eric Ries
►Three Stages of a Startup - Ash Maurya
► MVP and Product Market Fit
►Lean Canvas - Ash Maurya
► Customer Development - Brant Cooper and Patrick Vlaskovits
► Startup Pyramid – Sean Ellis
►Get Keep Grow – Steve Blank & Bob Dorf
► Pirate Metrics – Dave McClure
►One Metric that Matters - Croll & Yoskovitz
Starting a business is hard, especially when you're a student or recent graduate. This webinar will guide you through those early stages of starting a startup, getting early traction and attracting investment. In 2014 there is a huge amount of optimism for startups and technology with a greater amount of investment and support available than in recent years but this does not mean it is easy! This webinar will equip you with the knowledge, skills and network to be able to startup and seek the first investment necessary for your business.
Matthew is a co-founder, with Christian Jakenfelds and Nick Wheeler, of @StudentUpstarts. Student Upstarts invests up to £15,000 in exchange for up to 8% into student and graduate teams to start and run their own business. Matthew and Christian also co-founded @UpstartsConnect - a co-working space in Kings Cross, London, and Matthew is a co-founder of @9others - a global network solving the problems of business that keep entrepreneurs up at night - all over a good meal with 9others.
Current globalisation, disruption and de-regulation forces are shredding jobs in most economies. It is believed that growth in the 21st century will have to come from new ventures. The Lean Startup helps entrepreneurs, both in startups and established companies, to create new businesses faster and with less waste. That could have a profound economic impact.
Finding Product/Market Fit is the holy grail for each early-stage founder. In this presentation we share our learnings from the signals Pre-Seed Program (hellosignals.com/pre-seed) with hands-on examples and tools on how to prototype, validate your hypotheses, market need and business model.
SIX QUESTIONS TO ASK YOURSELF BEFORE LAUNCHING YOUR STARTUP.Ajay Batra
Launching a Startup is an empowering and uplifting experience. But it can also be a daunting task to juggle so many tasks and solve innumerable challenges daily.
Are you ready for it? Do you know that to do?
Use the 5-level roadmap (Startup Maturity Model) to know where you are, and to plan your next steps towards the launch of your high-performing startup.
Starting a new business is not the same as running an operating business. Over the last decade, several management practices have emerged that recognize the particular challenges new ventures face. Steve Blank’s Customer Development Model and the related “Lean” movement are increasingly popular. This session introduces and defines the key concepts of these entrepreneurial management practices and explores how startups can use them at any step of their development.
Small Business Summit_Business Model_Jeff Cutuli0_052615
1. Jeff Cutuli
Executive, Engineer, Entrepreneur, Consultant, Adviser, Executive Coach, Lean Startup Mentor
• SV Startup Cup
• LAUNCH, UC Haas School of Business
• Spartups
• Clean Tech Open Accelerator
• NSF i-Corps
LinkedIn.com/in/JeffCutuli May 26, 2015
Jeff Cutuli – Business Models – SCC Small Business Summit 1
2. Objectives:
What is a Business Model?
How Startups use Business Models
Various Business Models and Similarities
Business Model skill requirements
◦ Customer Development Process
Jeff Cutuli
2nd Annual Santa Clara County
Small Business Summit
May 26, 2015
Jeff Cutuli – Business Models – SCC Small Business Summit 2
3. Is it something that…
you play with…
Jeff Cutuli – Business Models – SCC Small Business Summit 3
4. …a Puzzle that requires time and patience to
assemble and has lots of interconnecting pieces …
Jeff Cutuli – Business Models – SCC Small Business Summit 4
5. …or a complex Process, which requires
testing, measurement and control, with
many steps?
Jeff Cutuli – Business Models – SCC Small Business Summit 5
6. Play Thing, Puzzle, Process are all true…but really
Jeff Cutuli – Business Models – SCC Small Business Summit 6
7. The Goal of a Startup is NOT to be a Startup
◦ Lean and Temporary organization
◦ Searching for Truth
Discover
◦ Find the Problem before the Solution
◦ Seek guidance from experts
Create and Validate a Business Model
◦ Product-Market Fit
◦ Repeatable
◦ Scalable
Deliver & Capture Value
◦ Learning and Doing
◦ Build team
◦ Partnerships
Jeff Cutuli – Business Models – SCC Small Business Summit 7
8. Alex Osterwalder: Business Model Canvass
Rob Fitzpatrick: Startup Canvas
Ash Maurya: Lean Canvas
Sean Griffin: Startup Cup Model
Jeff Cutuli – Business Models – SCC Small Business Summit 8
9. Jeff Cutuli – Business Models – SCC Small Business Summit
9
10. Value Proposition
Claim
Single, clear,
compelling message
Why you are
different and worth
buying
Strengths &
Weaknesses
Features
Gain
Minimal Viable
Product (MVP)
Problem
Pain
Specific
Customer
Segments
Target customers
who desperately
want the pain to go
away
Channels
Path to customers
Revenue Model
Activities that drive
revenue, raving fans,
retention
Market
Size
Demographics Opportunities
External Risks
Competition
Unfair Advantages Threats
Key Performance
Indicators
Measurements
Jeff Cutuli – Business Models – SCC Small Business Summit 10
11. Problem
Top 3 problems
Solution
Top 3 features
Unique Value
Proposition
Single, clear,
compelling
message
Why you are
different and
worth buying
Minimal Viable
Product (MVP)
Unfair
Advantage
Can’t be easily
copied or bought
Customer
Segments
Target customers
who are suffering
in the absence of
your UVP
Desperate for the
pain to go away
Key Activities
Activities that
drive revenue,
raving fans,
retention
Channels
Path to customers
Cost $tructure
Customer Acquisition Costs
Distribution Costs
Hosting
People
Facilities, etc.
Revenue $treams
Revenue Model
Customer Life Time Value
Margins
PRODUCT MARKET
Jeff Cutuli – Business Models – SCC Small Business Summit 11
12. Jeff Cutuli – Business Models – SCC Small Business Summit 12
13. Evidence-Based Tools
◦ Test Assumptions
◦ Get Lots of Data
◦ Feedback Loop
◦ Diagnose Pain
◦ Differentiate Your Claim
◦ Demonstrate Gain
◦ Deliver the Value
Jeff Cutuli – Business Models – SCC Small Business Summit 13
14. 1. Problem
Be Specific
Where’s the Pain
2. Customer
Niche / Individual
3. Value Proposition
Product-Market Fit
Solution
Customer Acquisition
Unfair Advantage
4. Revenue Streams
5. Cost Structure
6. Team
Core Competence
Key Activities
Human & Capital Resources
Partnerships
Advisors, Mentors, Coaches
Jeff Cutuli – Business Models – SCC Small Business Summit 14
15. Business Model Tools Require
Customer Development
Skills
Jeff Cutuli – Business Models – SCC Small Business Summit 15
16. “Find early customers and confirm their intent to buy
(without biasing them) before building everything.”
Rob Fitzpatrick –The Mom Test
“You can’t guess how your product is valued by customers…
Customer Development allows you to discover the economics needed
for value pricing your product.”
Steve Blank – The Four Steps to the Epiphany
Jeff Cutuli – Business Models – SCC Small Business Summit 16
17. TEST
Assumptions
n >30
Steve Blanks’s Customer Development Process:
Search and Test Assumptions before Executing
BUSINESS
MODEL
Jeff Cutuli – Business Models – SCC Small Business Summit 17
18. • No Guessing…Test Assumptions
• Curiosity
• Active Listening
• Unbiased Questioning
• Discipline
• Collect Statistically Valid and
Significant Data
• Analyze the Data
• Act on the Data
• “Rinse and Repeat”
Jeff Cutuli – Business Models – SCC Small Business Summit 18
19. Business Models are Tools for Startups
◦ Discover, Create, Deliver & Capture Value
◦ Quantify the Problem before Solution
Business Models require Skills
◦ Customer Development Process
◦ Show me the Evidence!
Business Models expedite the Learning
◦ Challenge our assumptions and thinking
◦ Learn with help from mentors, teachers, customers
◦ Learn by doing at a Business Model Competition
Several Business Models and Competitions
◦ No excuses. Just pick one and Go!
Jeff Cutuli – Business Models – SCC Small Business Summit 19
20. "There are more ways than one to skin a cat…
so are there more ways than one of digging
for money.”
Seba Smith - The Money Diggers, 1840
Jeff Cutuli – Business Models – SCC Small Business Summit 20
21. It’s normal to resist change. Business Models give entrepreneurs a
better way to discover, validate and exploit business opportunities.
Jeff Cutuli – Business Models – SCC Small Business Summit 21
22. Don’t let this happen to you!
Jeff Cutuli – Business Models – SCC Small Business Summit 22
23. References:
Blank, Steve; The Startup Owner's Manual: The Step-By-Step Guide for
Building a Great Company; K & S Ranch; 1st Ed.
Blank, Steve; The Four Steps to the Epiphany; K & S Ranch; 1st Ed.
Croll, Alistair, and Yoskovitz, Benjamin; Lean Analytics: Use Data to
Build a Better Startup Faster; O'Reilly Media; 1st Ed.
Fitzpatrick, Rob; The Mom Test: How to talk to customers & learn if
your business is a good idea when everyone is lying to you; Create
Space Independent Publishing Platform; 1st Ed.
Osterwalder, Alex; Business Model Generation: A Handbook for
Visionaries, Game Changers, and Challengers; Wiley & Sons; 1st Ed.
Osterwalder, Alex; Value Proposition Design: How to Create Products and
Services Customers Want; Wiley & Sons; 1st Ed.
Ries, Eric; The Lean Startup: How Today's Entrepreneurs Use
Continuous Innovation to Create Radically Successful Businesses;
Crown Business, 1st Ed.
Jeff Cutuli – Business Models – SCC Small Business Summit 23