Lecture 2 from our 5-Day Lean Launchpad Class discussing how to put customer discovery to work out of the building. Based on the acclaimed book, Talking to Humans, by Giff Constable & Frank Rimalovski. More at http://talkingtohumans.com.
The Product Market Fit Cycle (Updated to v. 2.0)Carlos Espinal
This presentation was used for my talk at HowToWeb 2014 in Bucharest Romania and is the updated presentation to my blog post on the subject - http://thedrawingboard.me/2013/05/03/the-product-market-fit-cycle/
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.
Business Model Innovation - Key Note Speech Emad Saif
This is my keynote speech for anyone interested on "Business Model Innovation" at the Arabic Innovation Academy organized by the European Innovation Academy and Qatar Science & Technology Park in Qatar on Jan 7 2018
The Product Market Fit Cycle (Updated to v. 2.0)Carlos Espinal
This presentation was used for my talk at HowToWeb 2014 in Bucharest Romania and is the updated presentation to my blog post on the subject - http://thedrawingboard.me/2013/05/03/the-product-market-fit-cycle/
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.
Business Model Innovation - Key Note Speech Emad Saif
This is my keynote speech for anyone interested on "Business Model Innovation" at the Arabic Innovation Academy organized by the European Innovation Academy and Qatar Science & Technology Park in Qatar on Jan 7 2018
Would you like to be able to increase the adoption rate of your product? In this session, we will introduce you to cutting edge concepts and techniques to shift your product development process from output to outcome driven. We will combine elements of Lean Startup, Product Discovery, and Experiment Driven Development to accelerate learning to quickly build products customer love.
Dan Olsen, The Lean Product Playbook , @danolsen
Room: C260
Everyone working on a new product is trying to achieve the same goal: product-market fit. Although product-market fit is one of the most important Lean Startup concepts, it’s also the least well defined. Dan Olsen shares the top advice from his book The Lean Product Playbook, including the Product-Market Fit Pyramid: an actionable model that breaks product-market fit down into 5 key elements. Dan also explains the Lean Product Process, a 6-step methodology with practical guidance on how to achieve product-market fit, illustrated with a real-world case study.
Business Model Generation Value Proposition PowerPoint Presentation SlidesSlideTeam
If cracking the business deal with your best shot is on your mind, then go forward with this amazing PowerPoint presentation that not only offers the best graphics but also compiles information in a presentable manner. The one stop solution, when it comes to compiling of text and graphic is Business Model Generation Value Proposition PowerPoint Presentation Slides. Presentation layout can be customized as per the topic you need to address in the meeting. The business model generation PPT slide helps deliver the content and maintain a record of the same in the best possible manner. To the point and crisp information is conveyed which a perfect roadmap for the financial years by business model PowerPoint PPT. May it be revenue model, swot analysis or business model, planning or comparison, every core issue is addressed by wonderful mix of colored graphs and graphics in presentation slides. For business model visionaries, the PPT are a game changer and strive to map, design and test different strategies. Delve into all the facts involved with our Business Model Generation Value Proposition PowerPoint Presentation Slides. It helps investigate the issue.
Running a Value Proposition Design Workshop as Part of Product DiscoveryPhilipp Engel
Most digital product companies are in a state of transformation, actively adopting or maturing their flavor of an agile development model. Such continuous change, even inevitable, is really hard. There is no “one-size-fits-all” solution as every company has their own values, unique culture, history, and products. Such transformations often end up as “experimentation on an organizational scale”. No doubt, product delivery orgs will get better and more focused on iteratively developing better code more often, released by autonomously working “squads” (cross-functional product teams) which are connected through guilds, tribes, release trains, or something similar. Deliverables will also get more consistent through centralized “Design Systems” teams and UI frameworks. But the key question that can get lost, or at least can get more difficult to address in all this “factory optimization” is “Do customers and user actually care?”. Are new features, products, and services valuable to them?
This talk introduces “Value Proposition Design” (following the "Value Proposition Design" book and templates from "Strategizer") as a simple yet powerful tool for UX designers and product managers to retain this focus on customers, users, and what is valuable to them. It can be applied in a simple workshop format with cross-functional groups, which makes it easy to sell and inject it into any (messy) organizational setup to steer complex decision making processes. This workshop format will be discussed in a hands-on manner from a practical example. Bundled together with learnings and insights around practical facilitation it aims to lower the barriers to go and run such a workshop yourself. The final discussion looks at how this method fits into the larger operational model of a company (e.g. into "product discovery") and how to make it repeatable and scalable.
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationJason Evanish
An overview of the first two stages of Steve Blank's Four Steps to the Epiphany: Customer Discovery and Customer Validation. Includes in depth advice on the customer development interview as well.
I'm writing a book on How to Build Customer Driven Products based on tactics like the ones in this presentation. You can sign up to learn more here: http://eepurl.com/RZoO9
Business Model Generation - Part1: Canvas
Presentation of key concept of Business Model Generation Canvas presented in the www.businessmodelgeneration.com/book. With addition of Startup types and lifecycle from Startup Genome Report (http://startupgenome.cc/).
Would you like to be able to increase the adoption rate of your product? In this session, we will introduce you to cutting edge concepts and techniques to shift your product development process from output to outcome driven. We will combine elements of Lean Startup, Product Discovery, and Experiment Driven Development to accelerate learning to quickly build products customer love.
Dan Olsen, The Lean Product Playbook , @danolsen
Room: C260
Everyone working on a new product is trying to achieve the same goal: product-market fit. Although product-market fit is one of the most important Lean Startup concepts, it’s also the least well defined. Dan Olsen shares the top advice from his book The Lean Product Playbook, including the Product-Market Fit Pyramid: an actionable model that breaks product-market fit down into 5 key elements. Dan also explains the Lean Product Process, a 6-step methodology with practical guidance on how to achieve product-market fit, illustrated with a real-world case study.
Business Model Generation Value Proposition PowerPoint Presentation SlidesSlideTeam
If cracking the business deal with your best shot is on your mind, then go forward with this amazing PowerPoint presentation that not only offers the best graphics but also compiles information in a presentable manner. The one stop solution, when it comes to compiling of text and graphic is Business Model Generation Value Proposition PowerPoint Presentation Slides. Presentation layout can be customized as per the topic you need to address in the meeting. The business model generation PPT slide helps deliver the content and maintain a record of the same in the best possible manner. To the point and crisp information is conveyed which a perfect roadmap for the financial years by business model PowerPoint PPT. May it be revenue model, swot analysis or business model, planning or comparison, every core issue is addressed by wonderful mix of colored graphs and graphics in presentation slides. For business model visionaries, the PPT are a game changer and strive to map, design and test different strategies. Delve into all the facts involved with our Business Model Generation Value Proposition PowerPoint Presentation Slides. It helps investigate the issue.
Running a Value Proposition Design Workshop as Part of Product DiscoveryPhilipp Engel
Most digital product companies are in a state of transformation, actively adopting or maturing their flavor of an agile development model. Such continuous change, even inevitable, is really hard. There is no “one-size-fits-all” solution as every company has their own values, unique culture, history, and products. Such transformations often end up as “experimentation on an organizational scale”. No doubt, product delivery orgs will get better and more focused on iteratively developing better code more often, released by autonomously working “squads” (cross-functional product teams) which are connected through guilds, tribes, release trains, or something similar. Deliverables will also get more consistent through centralized “Design Systems” teams and UI frameworks. But the key question that can get lost, or at least can get more difficult to address in all this “factory optimization” is “Do customers and user actually care?”. Are new features, products, and services valuable to them?
This talk introduces “Value Proposition Design” (following the "Value Proposition Design" book and templates from "Strategizer") as a simple yet powerful tool for UX designers and product managers to retain this focus on customers, users, and what is valuable to them. It can be applied in a simple workshop format with cross-functional groups, which makes it easy to sell and inject it into any (messy) organizational setup to steer complex decision making processes. This workshop format will be discussed in a hands-on manner from a practical example. Bundled together with learnings and insights around practical facilitation it aims to lower the barriers to go and run such a workshop yourself. The final discussion looks at how this method fits into the larger operational model of a company (e.g. into "product discovery") and how to make it repeatable and scalable.
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationJason Evanish
An overview of the first two stages of Steve Blank's Four Steps to the Epiphany: Customer Discovery and Customer Validation. Includes in depth advice on the customer development interview as well.
I'm writing a book on How to Build Customer Driven Products based on tactics like the ones in this presentation. You can sign up to learn more here: http://eepurl.com/RZoO9
Business Model Generation - Part1: Canvas
Presentation of key concept of Business Model Generation Canvas presented in the www.businessmodelgeneration.com/book. With addition of Startup types and lifecycle from Startup Genome Report (http://startupgenome.cc/).
Always Be Testing: 10 Tips for Improving Your Lead Conversion RateHubSpot
No matter how well your ads, emails and landing pages are performing, they can always be doing better. By not striving for constant improvement you're leaving money on the table and letting your competition eat your lunch. Join this webinar for tips on testing, measuring, and analyzing your marketing programs to improve your lead conversion rate.
This free webinar will cover:
* What marketing programs and program elements to test
* How to convert website visitors into leads with calls to action and landing pages
* Tips for effective calls to action and landing pages
* What marketing metrics to track and how
Download the video at http://www.hubspot.com/marketing-webinars/always-be-testing-webinar-archive/
Customer Discovery within Lean LaunchPad augmented with a select number of design research tools speeds up deep empathy, and expands student and founder understanding of the core, deep-rooted unmet needs they are trying to solve.
This is a hands-on workshop that will teach you how to build a Web application that incorporate real-time communication between the client application running on the browser and the back-end server.
We will start with an overview of technologies and tools available for building real-time Web apps, what’s involved, the basics, and the gotchas. Next, we will build, in real-time, a real-time chat application using the python (Tornado) + socket.io + Backbone stack. Why not Node.js, you might ask. Simple: it’s too easy, too popular, and and not super-stable or secure. But you’re welcome to use Node.js as the backend in your own apps!
Talking to Humans: Success Starts with Understanding your CustomersLean Startup Co.
Frank Rimalovski, New York University, @rimalovski
While most entrepreneurs understand that “getting out of the building” is a core tenet of the Lean Startup, many still struggle to effectively conduct the kinds of interviews and experiments that will lead to the insights they seek (and need). In this hands on workshop, you’ll be guided through the process of securing, conducting and synthesizing early customer discovery interviews.
How Spotify Does Test Automation - Kristian KarlSmartBear
Kristian Karl's (@kristiankarl) presentation from MeetUI 2013, SoapUI's first user conference, in Stockholm, Sweden. Kristian is a test manager at Spotify.
The First 2 Steps to the Epiphany: Customer Discovery, Customer Validation an...Jason Evanish
An outline of the key parts of the first two steps of Steve Blank's Four Steps to the Epiphany as well as how to do customer development interviews.
I'm writing a book on How to Build Customer Driven Products based on tactics like the ones in this presentation. You can sign up to learn more here: http://eepurl.com/RZoO9
My talk about customer discovery and understanding customer needs from the 2015 Lean Startup Conference in San Francisco, CA. Based on the book, Talking to Humans, by Giff Constable & Frank Rimalovski. More at http://talkingtohumans.com.
Have an idea for a startup but not sure where to begin? In this second of a two part series, you will learn how to put the customer development methodology into practice. Learn how to test your concepts with users, customers and partners as you search for a repeatable and scaleable business model.
Have an idea for a startup but not sure where to begin? This presentation will provide guidance about how to turn that idea into a viable business. Learn a step-by-step methodology that will help you get beyond the idea phase and on the path to a successful startup venture.
I did a quick run down of the different blocks on the Business Model Canvas at Ajujaht (Estonian entrepreneurship competition), which we followed by a brain dump of the team members on the canvas itself.
Lean Startup Analytics and MVP – Lecture and Workshop at Zeppelin UniversitySebastian Fittko
This lecture and workshop was held at E-Entrepreneurship Summer School at Zeppelin University, Friedrichshafen.
The first part explains the differences and challenges between of a new idea driven startup and proof of concept startup (aka copycat).
The first Workshop part is on the key assumptions and hypothesis of the business ideas in the course.
The second part of the lecture is about the validation of the problem/solution fit using interview techniques.
The third part is on the Minimum Viable Product concept and 6 different MVP cases.
The second workshop is on developing a MVP concept for each of the business ideas in the course.
Finally some fundamental quantitative analytics (split testing, cohort analysis) are explained.
Building A Collaborative Innovation Playbook - Greg Satell★ Tony Karrer
For his upcoming book, Mapping Innovation, Greg Satell has researched how people and organizations successfully innovate. In this session, Greg draws upon these insights and provide a playbook for how to define the right innovation strategies for your organization to overcome the specific challenges that your organization faces and dramatically improve your innovation effectiveness.
Business Model Canvas For Teaching Mediation Platform (TeachZone)Jitendra Kasaudhan
This pdf explains all the 9 elements of business model canvas with respect to TeachZone which is an application that aims to facilitates students to find private tutors as well as Tutors and Teaching agencies can find interested students.
Presentation on this topic can be found on following link
http://www.slideshare.net/jkasaudhan/seba-master-presentation-group-number-41
Link for the Business Model Canvas
https://docs.google.com/file/d/0B3hS4vhXwey_QkxBc2FSZzViSk0/edit?pli=1
Class syllabus for 5-Day Lean Launchpad class with Steve Blank.
This course provides real world, hands-on learning on what it’s like to actually start a high-tech company. This class is not about how to write a business plan. It’s not an exercise on how smart you are in a classroom, or how well you use the research library to size markets. And the end result is not a PowerPoint slide deck for a VC presentation.
This is a practical class – essentially a lab, not a theory or “book” class. Our goal, within the constraints of a classroom and a limited amount of time, is to create an entrepreneurial experience for you with all of the pressures and demands of the real world in an early stage start up.
You will be getting your hands dirty talking to customers, partners, competitors, as you encounter the chaos and uncertainty of how a startup actually works. You’ll work in teams learning how to turn a great idea into a great company. You’ll learn how to use a business model to brainstorm each part of a company and customer development to get out of the classroom to see whether anyone other than you would want/use your product. Finally, based on the customer and market feedback you gathered, you would use agile development to rapidly iterate your product to build something customers would actually use and buy. Each day will be a new adventure outside the classroom as you test each part of your business model and then share the hard earned knowledge with the rest of the class.
Slides from my talk to MBA students from Central European University (CEU, Hungary) about how we spur and support startups and entrepreneurship across NYU.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
6. @NYUEntrepreneur
The Business Model Canvas
Revenue Streams
Channels
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Key Resources
Cost Structure
Customer Relationships
Designed by: Date: Version:Designed for:
designed by: Strategyzer AG
The makers of Business Model Generation and Strategyzer
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:
http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
strategyzer.com
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
is your business more
Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)
sample characteristics
Fixed Costs (salaries, rents, utilities)
Variable costs
Economies of scale
Economies of scope
Through which Channels do our Customer Segments
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?
channel phases
1. Awareness
How do we raise awareness about our company’s products and services?
2. Evaluation
How do we help customers evaluate our organization’s Value Proposition?
3. Purchase
How do we allow customers to purchase specific products and services?
4. Delivery
How do we deliver a Value Proposition to customers?
5. After sales
How do we provide post-purchase customer support?
For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
For whom are we creating value?
Who are our most important customers?
Mass Market
Niche Market
Segmented
Diversified
Multi-sided Platform
What type of relationship does each of our Customer
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
examples
Personal assistance
Dedicated Personal Assistance
Self-Service
Automated Services
Communities
Co-creation
What Key Activities do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?
categories
Production
Problem Solving
Platform/Network
What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
Revenue Streams?
types of resources
Physical
Intellectual (brand patents, copyrights, data)
Human
Financial
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
motivations for partnerships
Optimization and economy
Reduction of risk and uncertainty
Acquisition of particular resources and activities
What value do we deliver to the customer?
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we
offering to each Customer Segment?
Which customer needs are we satisfying?
characteristics
Newness
Performance
Customization
“Getting the Job Done”
Design
Brand/Status
Price
Cost Reduction
Risk Reduction
Accessibility
Convenience/Usability
types
Asset sale
Usage fee
Subscription Fees
Lending/Renting/Leasing
Licensing
Brokerage fees
Advertising
fixed pricing
List Price
Product feature dependent
Customer segment
dependent
Volume dependent
dynamic pricing
Negotiation (bargaining)
Yield Management
Real-time-Market
Hypotheses & the BMC
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
Hypothesis
9. @NYUEntrepreneur
Your job is not to validate
your product….
It’s to validate the
problem and how best to
solve it?
10. @NYUEntrepreneur
Customer Discovery
u Apply the scientific method to
business model development
10
Modify
hypothesis
Observe
phenomena
Formulate
hypothesis
Test
hypothesis
via rigorous
experiments
Establish
theory
based on
repeated
validation of
results
11. @NYUEntrepreneur
Customer Discovery
u Apply the scientific method to
business model development
PIVOT!
Observe
phenomena
Formulate
hypothesis
Test
hypothesis
via rigorous
experiments
Establish
theory
based on
repeated
validation of
results
You are here
____
v
12. @NYUEntrepreneur
Talk to >50 People!
u GOTB: The #1 lesson of this class
u Within five days
u You must gain insight into your
customer & market
u You are doing pattern recognition…
Must have sufficient data points to see
u It works…It is proven
15. @NYUEntrepreneur
Meet People You Don’t Know
u People you know will be nice and tell
you what you want to hear
u Those interviews are possibly harmful
u Let other teams use people you know
u People you don’t know have no
relationship to protect…Only they will
tell you the truth
18. @NYUEntrepreneur
What do you want to learn?
18
The Business Model Canvas
Revenue Streams
Channels
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Key Resources
Cost Structure
Customer Relationships
Designed by: Date: Version:Designed for:
designed by: Strategyzer AG
The makers of Business Model Generation and Strategyzer
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:
http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
strategyzer.com
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
is your business more
Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing)
Value Driven (focused on value creation, premium value proposition)
sample characteristics
Fixed Costs (salaries, rents, utilities)
Variable costs
Economies of scale
Economies of scope
Through which Channels do our Customer Segments
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?
channel phases
1. Awareness
How do we raise awareness about our company’s products and services?
2. Evaluation
How do we help customers evaluate our organization’s Value Proposition?
3. Purchase
How do we allow customers to purchase specific products and services?
4. Delivery
How do we deliver a Value Proposition to customers?
5. After sales
How do we provide post-purchase customer support?
For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
For whom are we creating value?
Who are our most important customers?
Mass Market
Niche Market
Segmented
Diversified
Multi-sided Platform
What type of relationship does each of our Customer
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
examples
Personal assistance
Dedicated Personal Assistance
Self-Service
Automated Services
Communities
Co-creation
What Key Activities do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?
categories
Production
Problem Solving
Platform/Network
What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
Revenue Streams?
types of resources
Physical
Intellectual (brand patents, copyrights, data)
Human
Financial
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
motivations for partnerships
Optimization and economy
Reduction of risk and uncertainty
Acquisition of particular resources and activities
What value do we deliver to the customer?
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we
offering to each Customer Segment?
Which customer needs are we satisfying?
characteristics
Newness
Performance
Customization
“Getting the Job Done”
Design
Brand/Status
Price
Cost Reduction
Risk Reduction
Accessibility
Convenience/Usability
types
Asset sale
Usage fee
Subscription Fees
Lending/Renting/Leasing
Licensing
Brokerage fees
Advertising
fixed pricing
List Price
Product feature dependent
Customer segment
dependent
Volume dependent
dynamic pricing
Negotiation (bargaining)
Yield Management
Real-time-Market
20. @NYUEntrepreneur
What do you want to learn?
u Do not sell! No demos! No presos!
u You are there to learn!
u Get stories, not speculation
u Ask open-ended questions
u Learn about their problems and how they
solve them today
u Ask why? Then why? They why again!
u Create a guide (not a script)
20
22. @NYUEntrepreneur
How do you find interview subjects?
u At least one degree of separation
u Learn to love LinkedIn
u Make referrals happen
u Get creative…recruiting hacks
u Fish where the fish are…
u …In the wild
u Promise to be brief
u Play the student/researcher card
u Enterprise customers are people too!
22
24. @NYUEntrepreneur
How to ensure an effective interview?
u Beware of confirmation bias
u Do it in person, one at a time
u Get subjects to tell a story
u Look for solution hacks
u Understand their priorities
u Follow your nose & drill down
u Listen and STFU!
u Have someone take notes
24
25. @NYUEntrepreneur
Pro Tips
u Practice, practice, practice
u NO email, focus groups or surveys
u Don’t start with your dream customer
u Being an entrepreneur means being
aggressive & persistent
u Flatter subjects
u Be transparent
u Follow up/stay in touch
u Write up key insights right away
25
28. @NYUEntrepreneur
Your Last >$100 Purchase
1. Write description of item on top of page
2. Find partner sitting next to you & swap
3. Create interview guide: ~5 questions
u Explain what you bought and why
u What was the process from desire to acquisition?
u What other options/alternatives did you consider?
u How did you decide to buy it? Who/what did you consult?
u How did you decide where to buy it?
4. 5 minute interview…take notes
5. Switch
30. @NYUEntrepreneur
Documentation
u Assign someone to take notes
u Write down any key a-ha’s as they
happen
u Note questions that worked & use
them again!
u Take pictures or videos!
u Capture key insights
31. @NYUEntrepreneur
How do you make sense of what you learn?7B. How Do You Make Sense Of What You Learn
(Draft)
31
32. @NYUEntrepreneur
Gaining Insight
u Facts are interesting…Insights are your goal
u Be honest…Don’t be too quick to validate or
too slow to disprove your hypothesis
u Don’t just scratch the surface, dive deep
u Find the hidden motivations
u Ask why? And why? Then why again?
u Don’t fear picking the wrong market
u Depth of understanding always leads to
insight
36. @NYUEntrepreneur
Learning Is Paramount
u The knowledge you gain in customer
discovery is critical to the success or
failure of your business
u >Half of your assumptions are wrong
u You must not try to validate what you
already think or want to be true
37. @NYUEntrepreneur
Pro Tips v2
u Focus on actual behavior, not
speculative or abstract feelings
u If they’ve made an MVP…ask to see it!
u Listen, don’t talk
u Follow your nose & drill down
u Parrot back or misrepresent to confirm
u Ask for introductions
u Write up your notes ASAP
u Avoid premature conclusions