Downloaded 612 times
Uploaded byStanford University
Startup weekend introduction
The document summarizes customer development tools and methods for startups. It discusses: 1) Three key customer development tools - agile development, the business model canvas, and customer development - which are used to search for a viable business model through customer feedback. 2) Customer development involves customer discovery, validation, and creation phases to iteratively test hypotheses and pivot the business model based on learning. 3) The minimum viable product and frequent iteration are important to get early customer feedback and learning in a timely manner.
More Related Content
Similar to Startup weekend introduction
More from Stanford University
Startup weekend introduction
- 1. Customer Development in 54 Hours All Action, Out of the Building
- 2. This Talk isBased On The Four Steps to the Epiphany
- 3. This Talk isBased On The Startup Owners Manual The Reference Manual for Entrepreneurs
- 6. Customer Development in 54 Hours Three Tools For Startups
- 7. All I Needto Do is Execute the Plan
- 8. No Business PlanSurvives First Contact With Customers
- 9. What’s the WeekendIdea? Business Model Test Problem Test Solution Hypotheses •MVP •Does Anyone Care? •Do they Like It? • Customers • How will you Get/Keep/ Grow Them?
- 10. Startup Tool #1: AgileDevelopment
- 11. Agile Development isHow We Build Startups
- 12. Startup Tool #2: TheBusiness Model
- 13. The Business Model: Anycompany can be described in 9 building blocks
- 15.
- 16. Business Model Canvas– Any Business KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES PROPOSITION RELATIONSHIPS SEGMENTS KEY CHANNELS RESOURCES COST STRUCTURE REVENUE STREAMS 16
- 17. Technical Assistance Nuclear Medicineand SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed plan for pre IND PET/SPECT Prescribing physicians cGMP manufacturers Multiplatform Technical assistance Radiopharmacies meeting ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds perform studies General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Cassette manufacturers Understanding of the regulatory process Sales of intermediates Contract cGMP precursor manufacture Salary, Rents Technology license Clinical trials Product license (royalty)
- 18. Value Customer Proposition Segments Technical Assistance Nuclear Medicine and SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed plan for pre IND PET/SPECT Prescribing physicians cGMP manufacturers Multiplatform Technical assistance Radiopharmacies meeting ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds perform studies General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Cassette manufacturers Understanding of the regulatory process Sales of intermediates Contract cGMP precursor manufacture Salary, Rents Technology license Clinical trials Product license (royalty)
- 19. Value Customer Proposition Segments Technical Assistance Nuclear Medicine and SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed plan for pre IND PET/SPECT Prescribing physicians cGMP manufacturers Radiopharmacies meeting ID cGMP CRO Product/Market Fit Multiplatform Sensitivity (nca) Specific compounds Technical assistance Radiologist who Fund-raising perform studies General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Cassette manufacturers Understanding of the regulatory process Sales of intermediates Contract cGMP precursor manufacture Salary, Rents Technology license Clinical trials Product license (royalty)
- 20. Get, Keep and Grow Technical Assistance Nuclear Medicine and SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed PET/SPECT cGMP manufacturers Radiopharmacies plan for pre IND meeting Multiplatform Technical assistance Customer Prescribing physicians ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds Segments perform studies General Channel Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Understanding of Cassette manufacturers the regulatory process Sales of intermediates Contract cGMP precursor manufacture Salary, Rents Technology license Clinical trials Product license (royalty)
- 21. Get, Keep and Grow Technical Assistance Nuclear Medicine and SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed PET/SPECT Who Are Our Customers? cGMP manufacturers Radiopharmacies plan for pre IND meeting Multiplatform Technical assistance Customer Prescribing physicians ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds Segments perform studies How Do We Reach Them? Channel General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Understanding of Cassette manufacturers the regulatory process Sales of intermediates Contract cGMP precursor manufacture Salary, Rents Technology license Clinical trials Product license (royalty)
- 22. Technical Assistance Nuclear Medicineand SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed plan for pre IND PET/SPECT Prescribing physicians cGMP manufacturers Multiplatform Technical assistance Radiopharmacies meeting ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds perform studies General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of Sales of packaged IP interest precursor in cassettes PoP data Radiologists Regulatory plan Understanding of Cassette manufacturers the regulatory process Contract cGMP precursor manufacture Costs Sales of intermediates Revenue Salary, Rents Technology license Clinical trials Product license (royalty)
- 23. Technical Assistance Nuclear Medicineand SOPs for precursors (Image Atlas) Radiology and drugs Radiopharmacies Accessibility (RCY) FDA regulatory support departments Recruit clinical sites In vivo animal studies Purity Equipment producers Develop regulatory Speed plan for pre IND PET/SPECT Prescribing physicians cGMP manufacturers Multiplatform Technical assistance Radiopharmacies meeting ID cGMP CRO Sensitivity (nca) Radiologist who Fund-raising Specific compounds perform studies General Pharmaceutical IP methodology for Direct sales of precursor development PoP data adding fluorine to Drug developers companies lead compounds of How Do We Make Money? IP PoP data interest Sales of packaged precursor in cassettes Radiologists Regulatory plan Understanding of Cassette manufacturers the regulatory process Contract cGMP precursor manufacture Costs Sales of intermediates Revenue Salary, Rents Technology license Clinical trials Product license (royalty)
- 24. 9 Guesses Guess Guess Guess Guess Guess Guess Guess Guess Guess
- 25. Startup Tool #3: CustomerDevelopment
- 26. Customer Development isHow We Search for the Business Model
- 27. Lesson 3 CUSTOMER DEVELOPMENT
- 28. Customer Development There areno facts inside your building So get the heck out
- 29. Customer Development is how you search for the model Search Execution Customer Customer Customer Company Discovery Validation Creation Building Pivot
- 30. Customer Development The Search For the Business Model Search Customer Customer Discovery Validation Pivot
- 31. Customer Development Execution Customer Customer Customer Company Discovery Validation Creation Building Pivot
- 32. Customer Discovery Search Customer Customer Customer Company Discovery Validation Creation Building Pivot Execution • Articulate and Test your hypotheses • Design experiments, start listening • Continuous Discovery • Done by founders
- 33. Discovery • How bigis the market? • Who’s the customer? – What’s their problem/need • What’s the product/service/need? – Does it solve the customers problem? • How do you create demand? • How do you deliver the product? • How do you make money?
- 34. Customer Development = process to search Business Model Canvas = the Scorecard Agile Engineering is How •Research •Technology Design •Marketing •Cost •Farming conventions. •Demo, dem Labs o, and •Organic We Build Startups •Demo and Reduction •Equipment demo!! Farmers customer •Remove •Proximity is Manufactur feedback •Weeding ers labor force paramount Service •Distributio pains •IP – Providers n Network •Eliminate Patents •Conventio •Service •Video bio-waste •Dealers nal Farmers Providers Classifier hazards •Direct Service Files •Indirect Service • … then Dealers •Robust Technology Value- •Asset Sale Driven •Direct Service with equipment rental •… then Asset Sale
- 35. Customer Validation Search Customer Customer Customer Company Discovery Validation Creation Building Pivot Execution • Repeatable and scalable business model? • Passionate earlyvangelists? • Pivot back to Discovery if no customers
- 36. The Minimum ViableProduct (MVP) •Smallest feature set that gets you the most … - orders, learning, feedback, failure… - incremental and iterative
- 37. Hypotheses Testing andInsight
- 38. The Pivot Search Customer Customer Discovery Validation Pivot •The heart of Customer Development •Iteration without crisis •Fast, agile and opportunistic
- 39. Pivot Cycle TimeMatters Search Execution Customer Customer Customer Company Discovery Validation Creation Building Pivot •Speed of cycle minimizes cash needs •Minimum feature set speeds up cycle time • Near instantaneous customer feedback drives feature set
- 40. The Startup OwnersManual • The Reference Manual for Entrepreneurs • Separate Web/Mobile versus Physical tracks
- 41. Web/Mobile Versus Physical Customer Customer Discovery Validation Pivot •Web/Mobile startups run faster •Different process steps for web vs. physical •Customer Relationships are radically different
- 42.
- 43.
- 44. Customer Relationships Physical Products– Get Customers © 2012 Steve Blank
- 45. Customer Relationships Physical Products– Keep Customers © 2012 Steve Blank
- 46. Customer Relationships Physical Products– Grow Customers © 2012 Steve Blank
- 47. Customer Relationships Physical Products– Get/Keep/Grow © 2012 Steve Blank
- 48. Customer Relationships Web/Mobile Products–Get Customers © 2012 Steve Blank
- 49. Customer Relationships Web/Mobile Products–Keep Customers © 2012 Steve Blank
- 50. Customer Relationships Web/Mobile Products–Grow Customers © 2012 Steve Blank
- 51. Customer Relationships Web/Mobile ProductsGet/Keep/Grow © 2012 Steve Blank
- 52. Customer Relationships Physical &Web Mobile Are Different © 2012 Steve Blank
- 53. Customer Relationships Physical &Web Mobile Are Different © 2012 Steve Blank
- 54. Customer Development in 54 Hours All Action, Out of the Building
- 55. Customer Development In Action
- 56. This Talk isBased On The Startup Owners Manual The Reference Manual for Entrepreneurs
- 58. Genesis of theIdea
- 59.
- 60. Assumption of CustomerPain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. 80% positive response
- 61.
- 62. Assumption of CustomerPain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. People will pay Surveyed 75+ extra to have a Customers People will not great, guarantee only pay more, they will Validated! d parking spot. pay a lot more! ($9+)
- 63.
- 64. Customer Survey/Validation • Howmuch more would you be willing to pay to have a guaranteed close parking spot in the arena's lot or near the arena? – On average- $9.33 – Max of $27.00 64
- 65. Assumption of Pain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. People will pay Surveyed 75+ extra to have a Customers People will not great, guarantee only pay more, they will Validated! d parking spot. pay a lot more! ($9+) 30+ People It is difficult to People who have get a mass We needed to extra spaces will number of find a new post spots and people to post solution. make money. enough parking spots.
- 66. Expert Validation • TomLombardi and Greg Bessoni – Online parking reservation experts Partnered with me and put up capital.
- 67.
- 68. New Assumptions 30+ Parking Parking lots will Lots Yes! Lots have Bigger Pain post spots online been looking for so that people ways to increase can reserve revenue and fill them. up lots. 75% positive response 20% of cash goes missing. Electronic 30+ Parking payments in Lots advance through Loved it! Would an online pay about 15% of Validated! reservation posted price. system.
- 69.
- 70.
- 71.
- 72. MVP Validation All Pro Parking 30+ person Started with a Easier ways to Search process very basic (30 lots) focus group post parking & was too hard. reservation track Wanted mobile system. reservations. site as well. All Pro Parking’s Customers With no marketing- Made it even Fixed 50 reservations easier to post search, cleaned in just a few and track up site, mobile months. parking. site in the works.
- 73.
- 74.
- 75. Our Model 15% of Price $5 Reservation Paid Fee XoomPark We estimate being able to collect about $8 per reservation
- 76. Go to MarketStrategy & Validation 25+ years Talked to Tom Lombardi, indust experience ry expert. Over 250 lots throughout Lots located all over West Eastern US. Coast and Texas Lots located throughout Parking lots in all 50 states Florida and in Dallas,TX
- 77. Go to MarketStrategy & Validation Tom and Greg’s Affilate Networks 3,000 Affiliates
- 78. Go to MarketStrategy & Validation Focus group of 30+ people Customer’s recommendations for the future
- 79. Market Size $8.2 Billion USA Parking Industry TAM SAM $4.5 Billion Parking Facility/Management Target Market $1.4 Billion Event Parking Apex $240,000 Buffalo and Atlanta
- 80. Competitors High ParkingCarma ClickandPark Usability GottaPark Parkwhiz Low Low High Reliability
- 81. Revenue Projections Revenue $20 $18 $16 $14 $12 Revenue in $10 Millions $8 $6 $4 $2 $0 Year 1 Year 2 Year 3 Year 4 70% Gross Profit Margin
- 82. •2 Partners •30+ Parking lots •50+ Reservations •Working Website •Validated Revenue Model
- 83. This Talk isBased On The Startup Owners Manual The Reference Manual for Entrepreneurs