The document provides steps for becoming an entrepreneur, including deciding what type of entrepreneur you want to be, finding an idea of sufficient size, crafting company hypotheses, building a basic website, testing ideas with customers, and asking for funding. It discusses different types of startups like lifestyle businesses, small businesses, social enterprises, and scalable companies. It emphasizes the importance of getting customer feedback to test hypotheses and pivot if needed through the customer development process.
Slides from a recent speech in front of 1500 people on:
- Why business model innovation is important
- What a business model is
- How to design and implement innovative business models using a design thinking approach.
Many cases illustrate how to do it in practice.
Slides from a recent speech in front of 1500 people on:
- Why business model innovation is important
- What a business model is
- How to design and implement innovative business models using a design thinking approach.
Many cases illustrate how to do it in practice.
Lean Startup Basics - Evidence Based EntrepreneurshipKelly Schwedland
Introduction and overview to the lean process for startups. An evidence based approach to validate early hypothesis and develop a solid Business Model before launch. Involving Customer Development, Hypothesis testing, Minimum Viable Product, (MVP) to get to Product/ Market fit and ultimately A replicable scalable business model. This simple but disciplined approach takes the guess work out of taking an idea and turning it into a viable company.
Based on Eric Reis, Steve Blank and Alex Osterwald's work with Lean Startup, Lean launchpad, customer development and Business Model Canvas. Now in practice by multiple Incubators, Accelerators, Universities and now the National Science Foundation through ICorp to validate business ideas with before investing.
The presentation is about minimum viable product, what is it, why is it important and how to build it. In the presentation you can find many ideas that will help you with the build, measure and learn loop.
The second part of the presentation is about pivoting. Pivots are fundamental changes in business strategy and very important part of avoiding the big failure without learning or even worse becoming a zombie company.
The Business Model Canvas (BMC) is a Strategic Management and Lean Startup template for developing new or redesigning existing business models to create competitive advantage.
Based on the framework developed by Strategyzer, the BMC Poster is presented as a visual chart with 9 building blocks. These elements cover the areas of the organization's core offering, infrastructure, customers, and finances. They include: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships and Cost Structure.
The BMC Poster comes in two themes: color and monochrome. Formatted in PDF, the poster can be easily printed on an A3-sized paper.
The BMC poster complements the 'Value Proposition Canvas (VPC)' and 'Business Model Canvas (BMC)' training presentation materials. It is an effective tool that can be printed and distributed to attendees of your VPC and/or BMC awareness or workshop session. It serves as a takeaway and summary of your VPC and/or BMC presentation.
The BMC Poster is divided into four parts:
1. The 9 Building Blocks
- Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships and Cost Structure
2. The Acronyms
- CS, VP, CH, CR, R$, KR, KA, KP and C$
3. Descriptions of the Building Blocks
4. Key Questions
Some years ago, Eric Ries, Steve Blank and others initiated The Lean Startup movement. The Lean Startup is a movement, an inspiration, a set of principles and practices that any entrepreneur initiating a startup would be well advised to follow.
Projecting myself into it, I think that if I had read Ries' book before, or even better Blank's book, I would maybe own my own company today, around AirXCell or another product, instead of being disgusted and honestly not considering it for the near future.
In addition to giving a pretty important set of principles when it comes to creating and running a startup, The Lean Startup also implies an extended set of Engineering practices, especially software engineering practices.
Lean Startup Basics - Evidence Based EntrepreneurshipKelly Schwedland
Introduction and overview to the lean process for startups. An evidence based approach to validate early hypothesis and develop a solid Business Model before launch. Involving Customer Development, Hypothesis testing, Minimum Viable Product, (MVP) to get to Product/ Market fit and ultimately A replicable scalable business model. This simple but disciplined approach takes the guess work out of taking an idea and turning it into a viable company.
Based on Eric Reis, Steve Blank and Alex Osterwald's work with Lean Startup, Lean launchpad, customer development and Business Model Canvas. Now in practice by multiple Incubators, Accelerators, Universities and now the National Science Foundation through ICorp to validate business ideas with before investing.
The presentation is about minimum viable product, what is it, why is it important and how to build it. In the presentation you can find many ideas that will help you with the build, measure and learn loop.
The second part of the presentation is about pivoting. Pivots are fundamental changes in business strategy and very important part of avoiding the big failure without learning or even worse becoming a zombie company.
The Business Model Canvas (BMC) is a Strategic Management and Lean Startup template for developing new or redesigning existing business models to create competitive advantage.
Based on the framework developed by Strategyzer, the BMC Poster is presented as a visual chart with 9 building blocks. These elements cover the areas of the organization's core offering, infrastructure, customers, and finances. They include: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships and Cost Structure.
The BMC Poster comes in two themes: color and monochrome. Formatted in PDF, the poster can be easily printed on an A3-sized paper.
The BMC poster complements the 'Value Proposition Canvas (VPC)' and 'Business Model Canvas (BMC)' training presentation materials. It is an effective tool that can be printed and distributed to attendees of your VPC and/or BMC awareness or workshop session. It serves as a takeaway and summary of your VPC and/or BMC presentation.
The BMC Poster is divided into four parts:
1. The 9 Building Blocks
- Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships and Cost Structure
2. The Acronyms
- CS, VP, CH, CR, R$, KR, KA, KP and C$
3. Descriptions of the Building Blocks
4. Key Questions
Some years ago, Eric Ries, Steve Blank and others initiated The Lean Startup movement. The Lean Startup is a movement, an inspiration, a set of principles and practices that any entrepreneur initiating a startup would be well advised to follow.
Projecting myself into it, I think that if I had read Ries' book before, or even better Blank's book, I would maybe own my own company today, around AirXCell or another product, instead of being disgusted and honestly not considering it for the near future.
In addition to giving a pretty important set of principles when it comes to creating and running a startup, The Lean Startup also implies an extended set of Engineering practices, especially software engineering practices.
Steve Blank's Secret History of Silicon Valley Computer History Museum 120708...Stanford University
Today, Silicon Valley is known around the world as a fount of technology innovation and development fueled by private venture capital and peopled by fabled entrepreneurs. But it wasn't always so. Unbeknownst to even seasoned inhabitants, today's Silicon Valley had its start in government secrecy and wartime urgency. In this lecture, renowned serial entrepreneur Steve Blank presents how the roots of Silicon Valley sprang not from the later development of the silicon semiconductor but instead from the earlier technology duel over the skies of Germany and secret efforts around (and over) the Soviet Union. World War II, the Cold War and one Stanford professor set the stage for the creation and explosive growth of entrepreneurship in Silicon Valley. The world was forever changed when the Defense Department, CIA and the National Security Agency acted like today's venture capitalists funding this first wave of entrepreneurship. Steve Blank shows how these groundbreaking early advances lead up to the high-octane, venture capital fueled Silicon Valley we know today.
No startup business experiences the same journey to success, but there are general stages that most companies move through as they grow:
1) Validation
2) Product Development
3) Commercialization
4) Scale/Growth
The Center for Entrepreneurial Innovation (CEI) helps its clients through these stages of business development and offers best practices for each stage. Represented by an amazing lineup of speakers, including Hart Shafer (Innovation Coach / Founder, Theraspecs), Eric Miller (Principal, PADT Inc.), Nate Curran (Entrepreneur-in-Residence, CEI) and Russ Yelton (CEO, Pinnacle Transplant Technologies, "The Startup Lifecycle" presentation offers unique insights and best practices for entrepreneurs growing their business.
Ahmad Takatkah (@SinbadTheVC) and myself (@MRArrabi) gave this workshop at the IEEE event in Hashemite University on Oct 7, 2012. It covers tips & advice on how to launch your startup in Jordan.
Building B2B Communities in a Low Trust WorldLou Ordorica
B2B communities exist to help companies attract and retain customers, improve productivity, decrease costs, and more. Learn how to create a trusted business community environment where relationships and opportunities flourish.
Speaker: Don Duval, Vice President, Business Services, MaRS
Using a case study example, Don discusses the importance of understanding and refining your business model in order to grow your business and maintain a sustainable competitive advantage in the marketplace.
Part of the MaRS CIBC Presents Entrepeneurship 101 lecture series: http://www.marsdd.com/ent101
Have you ever wondered what it is you need to do to increase the valuation of your company to get the best payout when you exit? This panel will discuss many ways of upping your valuation and how to start the process in the early days as well as improving it in the latter days of the life of the company.
For example, adding high profile industry experienced people to your team, buying or developing really interesting patents, creating channels, a brand, relationships that matter. Other ways include increasing your customer base and creating products that fit the gaps which larger competitors possess. When an acquiring company looks at you, what constitutes your value drivers?
Join a distinguished panel comprising entrepreneurs and acquirers as well as financial experts who can give you an idea of how to best increase your company’s valuation.
Great tips, resources, best practices and strategies for entrepreneurs, start-ups, professionals and small business owners.to plan launch and grow successful businesses.
What makes a business model viable? How to move it from viable to great? What are the key metrics to analyze business model performance? How and when should you decide to change your business model? How to manage the transition?
Introduction to Entrepreneurial Management - Entrepreneurship 101 (2012/2013)MaRS Discovery District
Starting a new business is not the same as running an operating business. As Steve Blank puts it "a startup is an idea looking for a business model". Over the last decade a number of management practices have emerged that recognizes the particular challenges facing new ventures. In particular, Blank's Customer Development Model and the related "Lean" movement are increasingly popular with entrepreneurs of all sorts. This lecture introduces and define the key concepts of the new entrepreneurial management practices and illustrate how startups can utilize them at any step of their process.
Team Networks - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, networks
Team LiOn Batteries - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, LiOn Batteries
Team Quantum - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Quantum
Team Disinformation - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Disinformation
Team Wargames - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Wargames
Team Acquistion - 2022 Technology, Innovation & Great Power Competition Stanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Acquistion
Team Climate Change - 2022 Technology, Innovation & Great Power Competition Stanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, climate
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Army venture capital
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve Blank, Army Venture capital
Team Catena - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, economic coercion,
Team Apollo - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, space force
Team Drone - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, c3i, command and control
Team Short Circuit - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, semiconductors
Team Aurora - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Army venture capital
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, venture capital
Lecture 8 - Technology, Innovation and Great Power Competition - CyberStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, hacking for defense, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Michael Sulmeyer, cybercom,USCYBERCOM
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
3. 12 Steps to a Startup
1. Decide what type of entrepreneur
2. Do you have what it takes?
3. Find an idea of sufficient size
4. Craft company hypotheses
5. Build the Website Logistics
6. Build a “low-fidelity” web site
7. Get customers to the site
8. Add the backend code to make the site work
9. Test the “problem” with customer data
10. Test the “solution” by building the “high-fidelity” website
11.Ask for money
5. Lifestyle Startups
Work to Live their Passion
Startup
• Serve known customer with
known product
• Work for their passion
6. Small Business Startups
Work to Feed the Family
Small
Startup
Business
• Serve known customer with
known product
• Feed the family
7. Small Business Startups
Work to Feed the Family
Small
Startup
Business
Exit Criteria
• known customer - Business Model found
known product
- Profitable business
• Feed the family
- Existing team
< $500K in revenue
8. Social Entrepreneurship Startups
Social Large
Startup Non-Profit
• Solve pressing social problems
• Social Enterprise: Profitable
• Social Innovation: New Strategies
9. Scalable Startup
Search Execute
Scalable Large
Startup Company
Goal is to solve for: Exit Criteria
unknown customer and - Business model found
unknown features - Total Available Market > $500m
- Can grow to $100/year
10. Buyable Startup
Born to Be Big
Search Sell
Scalable $2 to $50M
Startup Acquisition
Goal is to solve for: Sell to larger company
Internet, Mobile, Gaming Apps
11. What’s A Startup?
Search Build Execute
Large
Startup Transition
Company
A Startup is a temporary organization
used to search for a repeatable and
scalable business model
12. Step 2: Do You Have What It Takes?
• Founder?
• Early Employee?
• Later Stage?
• Resilient
• Relentless
• Agile
• Curious
• Passionate
• Driven
13. Step 3: Find an Idea of Sufficient Size
• Idea sources:
– New technology
– Regulatory/legal changes
– Customer tastes changes
– Unmet customer needs
• Size the opportunity:
– Total Available Market
– Served Available Market
– Target Market
14. Step 4: Craft Company Hypotheses
• Any company can be described in 9 hypotheses
15. CUSTOMER SEGMENTS
which customers and users are you serving?
which jobs do they really want to get done?
16. VALUE PROPOSITIONS
what are you offering them? what is that
getting done for them? do they care?
17. CHANNELS
how does each customer segment want to be reached?
through which interaction points?
26. Step 5: Website Logistics
• Get a domain name
• Set up Google Apps
• For Coders: set up a web host
– Use virtual private servers (VPS)
– “Platform As A Service like Heroku, Dotcloud or
Amazon Web Services
27. Step 6: Build a “Low-Fidelity” Web Site
• Splash Page
– value proposition, benefits summary, and a call-to-action to learn
more, answer a short survey, or pre-order
• For Non-coders
– Make a quick prototype in PowerPoint or use Unbouce,
Wordpress
– For surveys and pre-order forms use Wufoo or Google Forms
• For Coders
– Build the User Interface with a wireframe prototyping tool
– Create a fake sign up/order form
28. Step 7: Get Customers to the Site
• Start showing the site to potential customers, testing
customer segment and value proposition
• Use Ads, textlinks or Google AdWords, Facebook ads
and natural search
• Usse your network to find target customers
• For B2B products, use Twitter, Quora, and industry
mailing lists are a good place to find target customers.
• Use Mailchimp, Postmark or Google Groups to send out
emails and create groups
• Create online surveys with Wufoo or ZoomerangGet
feedback on your Minimum Viable Product (MVP)
features and User Interface
29. Step 8: Build a Complete Solution
• Build a more complete solution (Connect the User
Interface to code)
• Connect the UI to a web application framework (
– Node.js, Rubyon Rails, Django, SproutCore, jQuery, Symfony,
Sencha, etc.)
33. More startups fail from
a lack of customers than from a
failure of product development
34. Customer Development
The Search For the Business Model
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
35. Customer Discovery
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
• Stop selling, start listening
• Test your hypotheses – problem and solution
• Continuous Discovery
37. Customer Validation
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
• Repeatable and scalable business model?
• Passionate earlyvangelists?
• Pivot back to Discovery if no customers
38. The Pivot
• The heart of Customer Development
•Iteration without crisis
•Fast, agile and opportunistic
39. Pivot Cycle Time Matters
•Speed of cycle minimizes cash needs
•Minimum feature set speeds up cycle time
• Near instantaneous customer feedback
drives feature set
40. The Minimum Viable Product (MVP)
• Smallest feature set that gets you the most …
- orders, learning, feedback, failure…
41. Pivot Example
Robotic Weeding
Talked 75 Customers in 8 Weeks
43. 20 interviews, 6 site visits…
We got OUR Boots dirty
Mowing
Interviewed:
• Golf: Stanford Golf course
• Parks: Stanford Grounds Supervisor, head of maintenance and
lead operator (has crew of 6)
• Toro dealer (large mower manufacturer)
• User of back-yard mowing system
• Maintenance Services for City of Los Altos
• Colony Landscaping (Mowing service for stadiums)
Weeding
Visited two farms in Salinas Valley to better understand problem
Interviewed:
• Bolthouse Farms, Large Agri-Industry in Bakersfield
• White Farms, Large Peanut farmer in Georgia
• REFCO Farms, large grower in Salinas Valley
• Rincon Farms, large grower in Salinas Valley
• Small Organic Corn/Soy grower in Nebraska
• Heirloom Organics, small owner/operator, Santa Cruz Mts
• Two small organic farmers at farmers market
• Ag Services of Salinas, Fertilizer applicator
44. Business Plan
Autonomous Vehicles for Mowing & Weeding
- Innovation Dealers Mowing
- Dealers - Customer We reduce sell, installs and - Owners of
(Mowing and Education operating cost supports public or
Ag) - Dealer training - Labor reduction customer commercially
- Vehicle OEMs - Better used green
(John utilization of Co. trains spaces (e.g. golf
Deere, Toro, Jac assets (eg mow dealers, supports courses)
obsen, etc) or weed at dealers - Landscaping
Engineers on nights) - Mowing
service provider
- Research labs Autonomous - Improved Dealers
vehicles, GPS, performance - Ag Dealers Weeding
path-planning (less - Farmers with
rework, food manual weeding
safety) operations
Dealer discount Asset sale
COGS seek a 50-60% Gross Margin Our revenue stream derives from selling the
Heavy R&D investment equipment
45. Found weeding in organic crops is HUGE
problem; 50 - 75% of costs
Crews of 100s-1000
Back-breaking task
(Ilegal) labor harder to get
1-5 weedings per year/field
$250-3,500 per acre and
increasing
Food contamination risk
46. Decision to make – mowing vs weeding
Application If ROI is < 1 Labor costs Autonomous TAM
yr they will significant? would solve
buy problem?
Mowing of Yes. Yes Yes Adjusted up to
Professionally xxx
large fields run
organizations
Weeding in Agri Industry: YES! for TAM increased
YES! organic crops Not necessarily to $2.6 B (Total
Agriculture organic)
Large They are Key need is
Growers: Yes spending weed vs. crop Target Market
$500/ac! differentiation (organic
Small specialty)
Growers: No 162 M/yr
18%/yr growth
47. Autonomous vehiclesWEEDING
- Innovation Dealers - Low density
- Ag Dealers - Customer We reduce sell, installs and vegetable
- Ag Service Education operating cost supports growers
providers - Dealer training - Labor reduction customer - High density
(100 to 1) vegetable
- Research labs - Reduced risk of Co. trains growers
contamination dealers, supports - Thinning
- Mitigate labor dealers operations
Engineers on availability - Ag Dealers
- Conventional
Machine Vision concerns - Ag Service
vegetables
Two problems: providers
- Identification
- Elimination
Dealer discount Asset sale
COGS seek a 50-60% Gross Margin Our revenue stream derives from selling the
Heavy R&D investment equipment
49. CARROTBOT
Machine Vision data
collection platform
Monochrome &
Color Cameras
Laser-line sweep
(depth
measurement)
CarrotBot 1.0
Encoders
(position/velocity)
Onboard data
acquisition & power
50. The Business Plan Canvas Updated
•Technology •Farming
Design conventions.
•Marketing •Demo, demo, a
•Demo and nd demo!!
customer •Cost •Proximity is •Organic
•Research Labs feedback paramount Farmers
Reduction
•Equipment •Weeding
•Remove labor
Manufacturers Service
force pains
•Distribution Providers
•Eliminate bio-
Network •Conventional
waste hazards
•Service •IP – Patents Farmers
Providers •Video •Dealers
Classifier Files •Direct Service
•Robust •Indirect Service
Technology • … then Dealers
•Asset Sale
Value-Driven •Direct Service with
equipment rental
•… then Asset Sale
51. Visit Highlights
Carrot vs. Weeds
Due to small root systems, carrots have no chance against weeds
54. Customer Hypothesis
Pre-Test
Large
Growers
Us Dealer
Industrial
Growers
Hypothesis Confirmed
• Growers interested in own
Industrial equipment
Growers • Industrial (10,000s of acres)
Post-Test • Large (1,000s of acres)
Large • Willing to pay $100k for one unit
Growers
Us Dealer • Smaller growers (100s of acres)
Service usually subcontract the labor
Providers services or rent equipment
Equipment • All purchases through local dealers
Rental •Customer service is essential
55. Customer Map #1 – Industrial Growers
Example: Bolthouse Farms – Large Industrial Carrot Producer – 8K acres/yr
End User • Equipment Operator
Influencer • Local Farm Mgr
• Cliff Kirkpatrick, visited
Recommender • Director, Ag Equipment Operator
Technology
• Justin
Grove, interviewed
Decision
• VP, Growing
Maker
Operations
Approver • CFO, CEO (Jeff Dunn)
Cliff, Farm Mgr
56. Customer Map #2 – Service Providers
Example: Ag Services – Service Provider, Salinas Valley
End User • Equipment Operator
Influencer • Grower
Recommender • Service Mgr
Me (left), Marty (middle, Service Mgr), Doug
(right, Grower)
Decision Maker • ?? (service mgr’s
& Approver boss)
57. The Business Plan Canvas Updated
•Technology •Farming
Design conventions.
•Marketing •Demo, demo, a •Mid/Large
•Demo and nd demo!! Organic Farmers
customer •Cost •Proximity is •Agricultural
•Research Labs feedback paramount
Reduction corporations
•Equipment
•Remove labor •Weeding Service
Manufacturers
force pains Providers
•Distribution
•Eliminate bio-
Network
•Service •IP – Patents
waste hazards •Mid/Large
Providers •Video •Direct Service Conventional
Classifier Files •Indirect Service Farmers
•Robust • … then Dealers
Technology
•Direct Service with
equipment rental
Value-Driven •($1,500/d; 120d/yr )
•Low density: $1,500/d
•High density: $6,000/d
58. World Ag Expo interviews:
the need is real and wide spread
• 10+ interviews at show
– Everyone confirmed the need
– Robocrop, UK based, crude
competitor sells for $171 K
• Revenue Stream
– Mid to small growers prefer a
service
– Large growers prefer to buy, but
OK with service until technology
is proven
– Charging for labor cost saved is
OK, as we provide other benefits
(food safety, labor availability)
Confidential
59. The Business Plan Canvas Updated
•Technology •Farming
Design conventions.
•Marketing •Demo, demo, a •Mid/Large
•Research Labs •Demo and nd demo!! Organic Farmers
•Equipment customer •Cost •Proximity is •Agricultural
Manufacturer feedback Reduction paramount corporations
•Distribution •Remove labor •Weeding Service
Network force pains Providers
•Service •Eliminate bio-
Providers
•IP – Patents
waste hazards •Mid/Large
•2 or 3 Key
•Video •Direct Service Conventional
Farms
Classifier Files •Indirect Service Farmers
•Robust • … then Dealers
Technology
Value-Driven •Direct Service with
• R&D equipment rental
• Bill of Materials •Low density: $1,500/d
• Training & Service •High density: $6,000/d
• Sales
60. Autonomous weeding - Final
- Innovation Direct - Low density
- Ag Service - Customer We reduce - Provide high vegetable
providers Education operating cost quality service at growers
- Dealer training - Labor reduction competitive price - High density
- Research (100 to 1) vegetable
Institutes (eg - Reduced risk of growers
UC Davis, Laser contamination - Thinning
Zentrum - Mitigate labor operations
Hannover) Engineers on availability Direct
- Conventional
Machine Vision concerns - Alliance with
vegetables
- 3-4 key farms Two problems: service
- Identification providers
- Elimination - Eventually sell
through dealers
Costs for service provision Service provision
COGS seek a 50-60% Gross Margin - Charge by the acre with modifier according to
Heavy R&D investment weed density
- Eventually move to asset sale