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“IdLFE OmPAS”
L 1
WHaT wE (Ow) KW AUt ArTS
75% fails*
They are not a small version of a large company
66% drastically change their plans
The business plan rarely survive first contact with customers
Long-term plans is a waste of time
Most founders want to develop their product not the market
They embrace a new way of working - “the lean startup” methodology
* Harvard Business Review 2012
MålSTiNR
Få introduksjon til Lean Startup metodikken
Komme i gang med Lean Startup for egen bedrift
Komme i gang med utvikling av forretningsmodell for egen bedrift
GeN G 1
Velkommen og introduksjon
Presentasjonsrunde
Lean Startup Revolution
Introduksjon til forretningsmodellering vha Lean Canvas
Lean Canvas Workshop med lunsj
Hjemmeoppgave
Avslutning - kl 1300
ElKME
Vert: Per Arve Frøyen, Innovasjon Norge
Kursholder: Helge Hannisdal, gründer og mentor
Gründerfasen
1999
Idé
Vekstfase
Driftsfase
Internasjonalisering
Konsolidering
2012
200 ansatte - 8 land
omsetter 190MNOK - verdsatt 600MNOK
CEO
CTO
CMO
INTERESSER
GRÜNDERVIRKSOMHET
NYSKAPNINGSPARKEN
CONNECT VEST
MENTOR
BUSINESS ANGEL
TEKNOLOGI
INNOVASJON
SALGMARKEDSFØRING STRATEGI
RADIKAL ENDRING
KREMMER
STYREARBEID
INNOVASJON NORGE STARTUP WEEKEND
Li EN
Alle presenter på 3 minutter:
Hvem er du/dere?
Hva er ideen?
Nevn 3 ting du har lært fra å lese Running Lean
Hva er dine forventinger til workshopene/kurset
lE sTTuP EtH - 3 CPoNTs
business model design - canvas with testable hypotheses
customer development - get out of the building and test the
hypotheses
agile development - building a minimum viable product (mvp)
N SRtU Is  tEOrA oRNiZIN
dEGnE To sECh fO A rEAtAE N
sCAL bUNeS MEl.
- Steve Blank
UsISs DL EGn
He SiNS MEl NS
lE yO LoO At L
bUDiN BlO oF OR
bUNeS On E PE.
AcH OmPEnT OnTNS
a RiE Of PtHSiS HT
yO NeE To St.
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
Problem
Top 3 problems
Existing
Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer
Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing
Alternatives
Key Metrics
Activity that
drives retention/
revenue
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Channels
Path to customers
Customer
Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
1
UsTER EvEPNt
g o o t Budi!
- Steve Blank
2
Search Execute
Problem/Solution
Fit
Product/Market
Fit
Scale
Pivots Optimizations
Validated Learning Growth
Method
How to change
Objective
Requirements Development QA Release
ReASt Sk  nO DeVOpMT O NeW RoDTs,
bU DeVOpMT O CuSMeR AnD ArKS.
- Steve Blank
Mt EaRNg PpE Re
TritIAl OdU dELoPNt
V
2 weeks - 2.000$ 9 months - 82.000.000$
GE EvEPNt
TaRPs wAt CcE aR ThO tH mAGe  iTAT
eNGh MeS EfO rUInG Ut  rEUEs.
- Eric Ries
3
Steve Blank, Harvard Business Review 2012
IDEAS
CODEDATA
lE aGE DElOEN
BUILD
MEASURE
LEARN
OE AEr
Unit Tests
Usability Tests
Continuous Integration
Incremental Deployment
Free & Open-Source Components
Cloud Computing
Cluster Immune System
Just-in-time Scalabilty
Refactoring
Developer Sandbox
lEN AEr
Split Tests
Customer Interviews
Customer Development
Five Whys Root Cause Analysis
Customer Advisory Board
Falsifiable Hypotheses
Product Owner Accountability
Customer Archetypes
Cross-functional Teams
Smoke Test
Meur AEr
Split Tests
Clear Product Owner
Continuous Deployment
Usability Tests
Real-time Monitoring
Custom Liason
Funnel Analysis
Cohort Analysis
Net Promoter Score
Search Engine Marketing
Real-time Alterting
Predictive Monitoring Eric Ries / KissMetrics
Ln RaDIAl
srAGysrAGy
Business Model
Hypothesis-driven
Business Plan
Implementation-driven
EW RoDT RoCSEW RoDT RoCS
Customer Development
Get out of the office and test hypothesis
Product Management
Prepare offering for market following a linear, step-by-step plan
NgIENgNgIENg
Agile Development
Build the product iteratively and incrementally
Agile or Waterfall Development
Build the product iteratively, or fully specify the product before building it
OrnIzioOrnIzio
Customer and Agile Development Teams
Hire for learning, nimbleness and speed
Departments by Function
Hire for experience and ability to execute
FinCl RerTgFinCl RerTg
Metrics that Matter
Customer acquisition cost, lifetime customer value, churn, viralness
Accounting
Income statement, balance sheet, cash flow statement
FaurFaur
Expected
Fix by iterating on ideas and pivoting away from ones that don’t work
Expection
Fix by firing executives
SpdSpd
Rapid
Operates on good-enough data
Measured
Operates on complete data
Steve Blank, Harvard Business Review 2012
Exci 1 - RoBM
Start sketching a canvas for your idea/company
List top 3 problems you are solving for your potential
customers
List “Jobs to be done”
Document how early adopters solve these problems
today
Problem
Top 3 problems
Existing Alternatives
lE sTTuP EtH - MRy
business model design - canvas with testable hypotheses
customer development - get out of the building and test the
hypotheses
agile development - building a minimum viable product (mvp)
cUOmE DeVOpMT
AlITE RoBM/OlUOn T
Problem/Solution
Fit
Product/Market
Fit
Scale
Activities:
Problem and solution interviews, viability testing
Test all your hypotheses in Problem/Solution/Customer Segments
Pivoting! - substantial change to one or more blocks in the business model
Done when validated that problems is must-haves, minimum features for
“must have” (MVP) , customer is willing to pay x
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives
retention/revenue
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
IaBItY EsTG
Landing page
Concierge
Wizard of Oz
Prototypes
Wireframe/Mockups, similar
products
Test apps
Crowd-Funding test
He Al AsU oF UcCS I ThE UmB O
eXRiMTs At N B CrOwEd TO 2 HRs.”
-Thomas Alva Edison
cOIGe cRwD FDN
g raD TO Pit - a Let Oe
Crowd Fundraising to Groupon
Burbn comparable to foursquare to Instagram
Roleplaying game to Flickr
HotOrNot.com to Facebook
Personal podcasting to Twitter
Cellular Phone for kids to simcard to Bipper (iphone app)
Mobile restaurant menu to PAM (shopping centre promotion/map)
ChIE RoDT/ArK It
Problem/Solution
Fit
Product/Market
Fit
Scale
Activities:
Building your MVP, sell it to early adopters
Test all your hypotheses in Solution/Key Metrics/UniqueValue Prop
Pivoting!
Done when validated key metrics show high retention, customer
satisfaction and customer acquisition
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives
retention/revenue
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
PtIZe R CL
Problem/Solution
Fit
Product/Market
Fit
Scale
How to accelerate growth?
How do we scale internationally?
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives
retention/revenue
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
UsTER EvEPmE sUAR
Search Execute
Problem/Solution
Fit
Product/Market
Fit
Scale
Pivots Optimizations
Validated Learning Growth
Method
How to change
Objective
bUNeS MoDInG wIH EN AAs
EN AAs
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives
retention/revenue
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
RoDT AEt
2. UsTER EgMTs
Who are your customers segments?
Who are your users?
Identify early adopters - NOT mainstream customers.
Example segments:
Small companies in Norway
Mothers with children between 2-5 years old
Customer Segments
Target customers
Early Adopters
Exci 2
Fill out problem and customer segment blocks
3. NiQ AE RoPIOn
Why are you different and worth getting attention?
Target Early Adopters
High-level concept pitch
Unique Value
Proposition
Single, clear compelling
message that states
why you are different
and worth buying
High-Level Concept
Exci 3
Define your unique value proposition(s) and high level pitch
4. OlUOn
For each problem, define your simplest solution.
The solution should NOT be more than your MVP
(MinimumViable Product)
Solution
Top 3 features
Exci 4
Try to define your solution / MVP.
5. HaNL
How/Where can you meet potential customers?
How/Where can you sell to customers?
How/Where can you distribute your product to
customers?
No partners or referrals (yet) - focus on direct
Channels
Path to customers
Exci 5
What are your channels/path to customers?
Luj
6. EvEE TrES
How will you charge you customers?
What will you charge?
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
7. OsT TrUUR
What are the most important costs you will have?
Examples:
Costs to interview
Costs to build MVP/prototypes
Monthly fixed costs (staff/office etc)
Sales / Distribution costs
Cost Structure
Customer Acquisition
Costs
Distribution Costs
Hosting
Staff etc.
8. EY EtRS
What key numbers/activities define our success and
progress?
Focus on and run experiments for ONE metric at the
time
Examples:
Key feature usage
New customers
Churn
Key Metrics
Activity that drives
retention/revenue
9. NfA DvAAG
Unfair Advantage
Can’t be easily copied
or bought What is you unfair advantage?
A real unfair advantage cannot easily be copied/bought.
Examples:
Large network effect
Personal Authority
The right “expert” endorsements
Exci 6 - OmPTe E CVA
Nå skal dere:
5 min på å ferdigstille canvasen
Presentere Lean Canvas for de andre - 3 minutter
Oppsummering / diskusjon i plenum
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives
retention/revenue
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Unique Value
Proposition
Single, clear
compelling message
that states why you
are different and
worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
“hmEwRk”
For each company, to do until next week:
Complete and revise your canvas
Complete at least 3 problem interviews
Finish reading Running Lean (at least chapter 1-3 and 5-7)
Prepare to present canvas and interview summary next week
RoBM NtEIEw
Validate your hypotheses
Key questions:
Who has the problem/pain - Is
this a viable customer segment?
What are you solving? How do
customers rank the problems?
Who is the competition - How
do you customers solve these
problems today?
OcUNt STs
Be objective
Document immediately after interview
Notice their “keywords”
WHaT S A HyPHIs
Falsifiable hypothesis = (Specific action) will (expected measurable
action).
Examples:
Leap of faith: Begin know as an “expert” will drive early adopters.
Hypothesis: Blog post will drive > 100 early adopter sign-ups.
 & A
Kontaktinfo: helgeh@gmail.com
Neste samling: onsdag 15. mai kl 0900-1300
AkK Or  DA!
WOrDSt
MVP
Hypothesis
Lean
Pivot
Canvas
mO cAAs AmPS

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Lean Startup - Part 1

  • 2. WHaT wE (Ow) KW AUt ArTS 75% fails* They are not a small version of a large company 66% drastically change their plans The business plan rarely survive first contact with customers Long-term plans is a waste of time Most founders want to develop their product not the market They embrace a new way of working - “the lean startup” methodology * Harvard Business Review 2012
  • 3. MålSTiNR Få introduksjon til Lean Startup metodikken Komme i gang med Lean Startup for egen bedrift Komme i gang med utvikling av forretningsmodell for egen bedrift
  • 4. GeN G 1 Velkommen og introduksjon Presentasjonsrunde Lean Startup Revolution Introduksjon til forretningsmodellering vha Lean Canvas Lean Canvas Workshop med lunsj Hjemmeoppgave Avslutning - kl 1300
  • 5. ElKME Vert: Per Arve Frøyen, Innovasjon Norge Kursholder: Helge Hannisdal, gründer og mentor
  • 8. Li EN Alle presenter på 3 minutter: Hvem er du/dere? Hva er ideen? Nevn 3 ting du har lært fra å lese Running Lean Hva er dine forventinger til workshopene/kurset
  • 9. lE sTTuP EtH - 3 CPoNTs business model design - canvas with testable hypotheses customer development - get out of the building and test the hypotheses agile development - building a minimum viable product (mvp)
  • 10. N SRtU Is  tEOrA oRNiZIN dEGnE To sECh fO A rEAtAE N sCAL bUNeS MEl. - Steve Blank
  • 11. UsISs DL EGn He SiNS MEl NS lE yO LoO At L bUDiN BlO oF OR bUNeS On E PE. AcH OmPEnT OnTNS a RiE Of PtHSiS HT yO NeE To St. Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/ revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin 1
  • 12. UsTER EvEPNt g o o t Budi! - Steve Blank 2 Search Execute Problem/Solution Fit Product/Market Fit Scale Pivots Optimizations Validated Learning Growth Method How to change Objective
  • 13. Requirements Development QA Release ReASt Sk  nO DeVOpMT O NeW RoDTs, bU DeVOpMT O CuSMeR AnD ArKS. - Steve Blank Mt EaRNg PpE Re TritIAl OdU dELoPNt
  • 14. V 2 weeks - 2.000$ 9 months - 82.000.000$
  • 15. GE EvEPNt TaRPs wAt CcE aR ThO tH mAGe  iTAT eNGh MeS EfO rUInG Ut  rEUEs. - Eric Ries 3 Steve Blank, Harvard Business Review 2012
  • 16. IDEAS CODEDATA lE aGE DElOEN BUILD MEASURE LEARN OE AEr Unit Tests Usability Tests Continuous Integration Incremental Deployment Free & Open-Source Components Cloud Computing Cluster Immune System Just-in-time Scalabilty Refactoring Developer Sandbox lEN AEr Split Tests Customer Interviews Customer Development Five Whys Root Cause Analysis Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-functional Teams Smoke Test Meur AEr Split Tests Clear Product Owner Continuous Deployment Usability Tests Real-time Monitoring Custom Liason Funnel Analysis Cohort Analysis Net Promoter Score Search Engine Marketing Real-time Alterting Predictive Monitoring Eric Ries / KissMetrics
  • 17. Ln RaDIAl srAGysrAGy Business Model Hypothesis-driven Business Plan Implementation-driven EW RoDT RoCSEW RoDT RoCS Customer Development Get out of the office and test hypothesis Product Management Prepare offering for market following a linear, step-by-step plan NgIENgNgIENg Agile Development Build the product iteratively and incrementally Agile or Waterfall Development Build the product iteratively, or fully specify the product before building it OrnIzioOrnIzio Customer and Agile Development Teams Hire for learning, nimbleness and speed Departments by Function Hire for experience and ability to execute FinCl RerTgFinCl RerTg Metrics that Matter Customer acquisition cost, lifetime customer value, churn, viralness Accounting Income statement, balance sheet, cash flow statement FaurFaur Expected Fix by iterating on ideas and pivoting away from ones that don’t work Expection Fix by firing executives SpdSpd Rapid Operates on good-enough data Measured Operates on complete data Steve Blank, Harvard Business Review 2012
  • 18. Exci 1 - RoBM Start sketching a canvas for your idea/company List top 3 problems you are solving for your potential customers List “Jobs to be done” Document how early adopters solve these problems today Problem Top 3 problems Existing Alternatives
  • 19.
  • 20. lE sTTuP EtH - MRy business model design - canvas with testable hypotheses customer development - get out of the building and test the hypotheses agile development - building a minimum viable product (mvp)
  • 22. AlITE RoBM/OlUOn T Problem/Solution Fit Product/Market Fit Scale Activities: Problem and solution interviews, viability testing Test all your hypotheses in Problem/Solution/Customer Segments Pivoting! - substantial change to one or more blocks in the business model Done when validated that problems is must-haves, minimum features for “must have” (MVP) , customer is willing to pay x
  • 23. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin
  • 24. IaBItY EsTG Landing page Concierge Wizard of Oz Prototypes Wireframe/Mockups, similar products Test apps Crowd-Funding test He Al AsU oF UcCS I ThE UmB O eXRiMTs At N B CrOwEd TO 2 HRs.” -Thomas Alva Edison
  • 26. g raD TO Pit - a Let Oe Crowd Fundraising to Groupon Burbn comparable to foursquare to Instagram Roleplaying game to Flickr HotOrNot.com to Facebook Personal podcasting to Twitter Cellular Phone for kids to simcard to Bipper (iphone app) Mobile restaurant menu to PAM (shopping centre promotion/map)
  • 27. ChIE RoDT/ArK It Problem/Solution Fit Product/Market Fit Scale Activities: Building your MVP, sell it to early adopters Test all your hypotheses in Solution/Key Metrics/UniqueValue Prop Pivoting! Done when validated key metrics show high retention, customer satisfaction and customer acquisition
  • 28. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin
  • 29. PtIZe R CL Problem/Solution Fit Product/Market Fit Scale How to accelerate growth? How do we scale internationally?
  • 30. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin
  • 31. UsTER EvEPmE sUAR Search Execute Problem/Solution Fit Product/Market Fit Scale Pivots Optimizations Validated Learning Growth Method How to change Objective
  • 32. bUNeS MoDInG wIH EN AAs
  • 33. EN AAs Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin RoDT AEt
  • 34. 2. UsTER EgMTs Who are your customers segments? Who are your users? Identify early adopters - NOT mainstream customers. Example segments: Small companies in Norway Mothers with children between 2-5 years old Customer Segments Target customers Early Adopters
  • 35. Exci 2 Fill out problem and customer segment blocks
  • 36. 3. NiQ AE RoPIOn Why are you different and worth getting attention? Target Early Adopters High-level concept pitch Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept
  • 37. Exci 3 Define your unique value proposition(s) and high level pitch
  • 38. 4. OlUOn For each problem, define your simplest solution. The solution should NOT be more than your MVP (MinimumViable Product) Solution Top 3 features
  • 39. Exci 4 Try to define your solution / MVP.
  • 40. 5. HaNL How/Where can you meet potential customers? How/Where can you sell to customers? How/Where can you distribute your product to customers? No partners or referrals (yet) - focus on direct Channels Path to customers
  • 41. Exci 5 What are your channels/path to customers?
  • 43. 6. EvEE TrES How will you charge you customers? What will you charge? Revenue Streams Revenue Model Life Time Value Revenue Gross Margin
  • 44. 7. OsT TrUUR What are the most important costs you will have? Examples: Costs to interview Costs to build MVP/prototypes Monthly fixed costs (staff/office etc) Sales / Distribution costs Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc.
  • 45. 8. EY EtRS What key numbers/activities define our success and progress? Focus on and run experiments for ONE metric at the time Examples: Key feature usage New customers Churn Key Metrics Activity that drives retention/revenue
  • 46. 9. NfA DvAAG Unfair Advantage Can’t be easily copied or bought What is you unfair advantage? A real unfair advantage cannot easily be copied/bought. Examples: Large network effect Personal Authority The right “expert” endorsements
  • 47. Exci 6 - OmPTe E CVA Nå skal dere: 5 min på å ferdigstille canvasen Presentere Lean Canvas for de andre - 3 minutter Oppsummering / diskusjon i plenum
  • 48. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin
  • 49. “hmEwRk” For each company, to do until next week: Complete and revise your canvas Complete at least 3 problem interviews Finish reading Running Lean (at least chapter 1-3 and 5-7) Prepare to present canvas and interview summary next week
  • 50. RoBM NtEIEw Validate your hypotheses Key questions: Who has the problem/pain - Is this a viable customer segment? What are you solving? How do customers rank the problems? Who is the competition - How do you customers solve these problems today?
  • 51. OcUNt STs Be objective Document immediately after interview Notice their “keywords”
  • 52. WHaT S A HyPHIs Falsifiable hypothesis = (Specific action) will (expected measurable action). Examples: Leap of faith: Begin know as an “expert” will drive early adopters. Hypothesis: Blog post will drive > 100 early adopter sign-ups.
  • 54. Kontaktinfo: helgeh@gmail.com Neste samling: onsdag 15. mai kl 0900-1300 AkK Or  DA!
  • 55.