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Copyright 2014 Cowan Publishing
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
Venture
Design
Workshop IV
Engineering Your
Business Model
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
ABOUT ME
Entrepreneur (5x)
Intrapreneur (1x)
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
ABOUT ME
Copyright 2014 Cowan Publishing
ABOUT ME
www.alexandercowan.com
Copyright 2014 Cowan Publishing
AGENDA
Period! Deliverables!
Venture Design I: Achieving
Customer Relevance
Personas
Problem Scenarios-Alternatives-Value Propositions
Start Business Model Canvas
Storyboards
Customer Discovery
Venture Design II: Iterating to
Success
Venture Planning- focal hypotheses, experiments, and minimum
viable ‘product’
Venture Design III: Focusing &
Validating Venture Progress
Review of field work, refinements of approach, planning next
steps.
Venture Design IV: Engineering
Your Business Model!
Detailing your business model and remaining focal
assumptions.
Venture Design V: Designing the
Right Product!
Pairing your learnings on personas & hypotheses with high
quality, actionable inputs (stories & wireframes) for product
development and product validation.
Copyright 2014 Cowan Publishing
THE BUSINESS MODEL CANVAS
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
CUSTOMER DEVELOPMENT
MVP
Nascent
Product-Market
Fit(?) Scale
PIVOTAL
ASSUMPTIONS
PRODUCT
ORGANIZATION
PARTNERS,
CHANNELS
Founders
N/A
Probably too
soon
Test, revise,
test...
MVP
Customer dev.
team
Probably too
soon
Validated- now
tactical
Focus: efficiency,
extension
Full functional
organization
Yeah, maybe?
Validated- now
tactical
What would a
startup do??
Scalable
organization
Yeah, definitely!
Copyright 2014 Cowan Publishing
CUSTOMER DEVELOPMENT & THE CANVAS
MVP
Product-Market
Fit(?) Scale
Thinking through what you want the business to be for a
better idea of what you don’t know.
Then use that to focus your discovery.
Copyright 2014 Cowan Publishing
CUSTOMER DEVELOPMENT & THE CANVAS
Focal point for managing your assumptions- which are
open? closed? what are their inter-relationships?
MVP
Product-Market
Fit(?) Scale
Copyright 2014 Cowan Publishing
CUSTOMER DEVELOPMENT & THE CANVAS
Focal point for organizing incremental
‘growth hacking’ experiments.
MVP
Product-Market
Fit(?) Scale
Copyright 2014 Cowan Publishing
CUSTOMER DEVELOPMENT & THE CANVAS
Strategy management tool and jumping off point for new
‘intrapreneurial’ ventures and business model innovation.
MVP
Product-Market
Fit(?) Scale
Copyright 2014 Cowan Publishing
The Canvas is a housekeeping tool.
It won’t hand you the gold but it will
help you monitor how things are
panning out.
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
Personas
IT’S A PROCESS
Some techniques are more effective than others.
But they all require substantial, consistent exertion.
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
VENTURE DESIGN
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
ExperimentLearn
Hypothesize
Lean Startup-
Style Assumptions
VENTURE DESIGN
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
Business Model
Canvas
ExperimentLearn
Hypothesize
Lean Startup-
Style Assumptions
VENTURE DESIGN
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
User Stories &
Test Cases
Business Model
Canvas
ExperimentLearn
Hypothesize
Lean Startup-
Style Assumptions
VENTURE DESIGN
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
Product &
Promotion
User Stories &
Test Cases
Business Model
Canvas
ExperimentLearn
Hypothesize
Lean Startup-
Style Assumptions
VENTURE DESIGN
Copyright 2014 Cowan Publishing
Business Model
Canvas
VENTURE DESIGN
Copyright 2014 Cowan Publishing
THE CANVAS: 3 PARTS
ALEX COWAN
AlexanderCowan.com
@cowanSF
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.The templates here are made available on the same CC license terms as the original canvas.
Offering
Customers
Infrastructure
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
Copyright 2014 Cowan Publishing
SEGMENT TO VALUE PROPOSITION MAPPING
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.The templates here are made available on the same CC license terms as the original canvas.
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Segment_1
Segment_2
Segment_3
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
THE INDEPENDENT VARIABLE
Value
Propositions
Customer
Segments
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
CUSTOMER SEGMENTS VS. PERSONAS
≈
g
Customer
Segments
Personas
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
REALLY GETTING CUSTOMER SEGMENTS
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
Copyright 2014 Cowan Publishing
Empathy Creativity
DESIGN THINKING
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
DESIGN THINKING- APPLICATIONS
Copyright 2014 Cowan Publishing
Entry1
Urinate as they go2
Edges preferred3
Speedy4
PB > cheese5
Empathy
DESIGN THINKING- APPLICATIONS
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
Check & Repair
UV Validation
Relevant Placement
A Better Mouse Trap
Powered by Better Bait
Creativity
1
2
3
4
5
DESIGN THINKING- APPLICATIONS
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
Foundation in
Design Thinking
DESIGN THINKING- PERSONAS
Personas Problem Scenarios
Alternatives
Your Value Propositions
Copyright 2014 Cowan Publishing
DESIGN THINKING- PERSONAS
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
DESIGN THINKING- PERSONAS
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
DISCOVERY & LEARNING: THINK-SEE-FEEL-DO
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
XPROBLEM SCENARIO
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
XWhat job(s) are you doing for
the customer?
What existing need or
behavior are you fulfilling?
PROBLEM SCENARIO
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
?
X
ALTERNATIVE(S)
PROBLEM SCENARIO
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
?
X
If they currently use
spreadsheets, watch them
use it and get a copy of it.
If they currently put notes on the
family fridge, ask about it,
photograph it.
ALTERNATIVE(S)
PROBLEM SCENARIO
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
YOUR VALUE PROPOSITIONS
!
ALTERNATIVE(S)
?
PROBLEM SCENARIO
X
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan Publishing
ALEX COWAN
AlexanderCowan.com
@cowanSF
X
Are they better enough than the
alternative(s)?
!
?
YOUR VALUE PROPOSITIONS
ALTERNATIVE(S)
PROBLEM SCENARIO
DISCOVERY & LEARNING: PROBLEM SCENARIOS
Copyright 2014 Cowan PublishingCopyright 2014 Cowan Publishing
ENABLE QUIZ: EXAMPLE PROBLEM SCENARIOS
X
Helen the HR Manager
“It’s hard for me to screen on
technical skill sets and I end up
sending Frank unqualified
recruits.”
Frank the Functional Manager
“I have limited time and I don’t
want to be a jerk. It’s hard to
screen for all the relevant
technical skill sets.”
PERSONA
PROBLEM
SCENARIO
- Call references
- Take their word for it
- A few probing questions
- Take their word for it?ALTERNATIVE(S)
!VALUE
PROPOSITIONS
New ability for meaningful
screening of technical
candidates, increasing % of
successful hires and lowering
Frank’s workload on recruiting.
Less time doing interviews, and
better hires sooner.
Copyright 2014 Cowan Publishing
STORYBOARDING A PROBLEM SCENARIO
AFTER
BEFORE
BEFORE
(using the
Alternative)
AFTER
(with the Value
Proposition)
Copyright 2014 Cowan Publishing
EXERCISE- PERSONA CREATION
Mary the Working Mom
Susan the Stay-at-Home Mom
Douglas the Dad
Nathan the Nanny
Ivan the Infant
…
List at least 3 personas
(4 min)
use 1 index card/
persona
Copyright 2014 Cowan Publishing
EXERCISE- PERSONA CREATION
Mary the Working Mom (B, U)
Susan the Stay-at-Home Mom (B, U)
Douglas the Dad (U)
Nathan the Nanny (U)
Ivan the Infant (U)
…
Which are buyers? Users? Both?
Note with a ‘B’ and/or a ‘U’ on the Index Card
(1 min)
Copyright 2014 Cowan Publishing
EXERCISE- PERSONA CREATION
(2 min)
Can you think of 5 real examples for each?
Use the back of your index cards
Copyright 2014 Cowan Publishing
EXERCISE- PERSONA CREATION
Which have the most compelling need, desire?
If you could only pitch 1 persona type, which? Sort top to bottom
(1 min)
Copyright 2014 Cowan Publishing
EXERCISE- VALUE PROPOSITIONS
Brainstorm Problem Scenario-
Alternative-Value Proposition
Trios.
YOUR VALUE
PROPOSITIONS!
ALTERNATIVE(S)
?
PROBLEM SCENARIO
X
Problem: Mary would like to be more
structured and consistent in her use of
allowances to teach the link between work
and financial rewards.
Alternative: Track the completion of chores,
homework, etc. manually using paper, boards,
notes on her phone.
Value Proposition: Use our app to easily and
consistently implement best practices tailored
to your situation.
(7 min.)
Copyright 2014 Cowan Publishing
EXERCISE- VALUE PROPOSITIONS
Prioritize your value propositions-
if you could only pitch one, which?
After that? Etc.
(2 min.)
Copyright 2014 Cowan Publishing
EXERCISE- MAPPING PERSONAS, VALUE PROP’S
1. List your prioritized personas
(Customer Segments block)
and Value Propositions
2. Map your personas to your
Value Propositions
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.The templates here are made available on the same CC license terms as the original canvas.
Activity_1
Activity_2
Activity_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
(3 min)
Copyright 2014 Cowan Publishing
PEER PRESENTATIONS PREP!
(4 min.)
For [target customer] who [statement of the need or opportunity], the
[product name] is a [product category] that [statement of key benefit/
key reason to buy]. unlike [primary alternative], our product [statement
of primary differentiation].
For [hiring managers] who [need to evaluate technical talent], [Enable
Quiz] is a [talent assessment system] that [allows for quick and easy
assessment of topical understanding in key engineering topics]. Unlike
[formal certifications or ad hoc questions], our product [allows for
lightweight but consistent assessments of technical talent].
EXAMPLE
Copyright 2014 Cowan Publishing
As
Presenter
As
Audience
PERSONAS & VALUE PROPOSITIONS
1) Intro. with your positioning statement.
2) Who is/are the top persona(s)?
3) What’s cool about the value prop.?
4) If applicable, how do they differ between
the personas?
- Focus on the process; avoid editorial
- Ask a lot of questions
- Think about it like an investor
EXERCISE: PEER PRESENTATIONS (4 MIN/EACH)
Copyright 2014 Cowan Publishing
REALLY GETTING RELATIONSHIPS & CHANNELS
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
How do they first
find out that you,
your proposition
exist?
How do you break
through the noise
floor?
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
What is it that
engages them with
your proposition?
How will you
connect?
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
Are you connecting
with an important
problem scenario?
Is your VP better
enough than the
alternative?
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
What is absolute
minimum set of
actions required by
the customer to
have you deliver on
their problem?
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
How do they
become a regular,
habitual user? How
will you know if
that’s happening?
Copyright 2014 Cowan Publishing
A
I
D
A
O
R
ttention
nterest
esire
ction
nboarding
etention
How do you
deepen their
involvement?
Investment? How
do you get them
talking about it?
Copyright 2014 Cowan Publishing
STORYBOARDING AIDA(OR)
Copyright 2014 Cowan Publishing
STORYBOARDING AIDA(OR)
Copyright 2014 Cowan Publishing
Using the
squares, create
a 6-panel
AIDA(OR)
storyboard
(10 min)
EXERCISE: AIDA STORYBOARD (10 MIN)
Copyright 2014 Cowan Publishing
EXERCISE- CUSTOMER RELATIONSHIPS
GETTING STARTED
1. Bounce off your take on AIDA(OR)
2. Decouple any concierge/hand-holding actions you use for discovery
from your target steady state
3. Variation by segment?
4. How will you know if it’s working?
EXAMPLES
‘dedicated personal service’ (onsite? offsite?)
‘personal service’
‘phone support’
‘web/email based tickets’
‘web self-help and forums’
(3 min)
Customer
Relationships
Copyright 2014 Cowan Publishing
EXERCISE- CHANNELS
GETTING STARTED
1. Bounce off your take on AIDA(OR)
2. Variation by segment?
3. How will you know if it’s working?
EXAMPLES
SALES
hand sales (direct or indirect?)
retail
web
phone
delivery
(3 min)
PROMOTION
personal (direct vs. indirect?)
specialty media
television
radio
AdWords + SEO
Channels
Copyright 2014 Cowan Publishing
As
Presenter
As
Audience
RELATIONSHIPS & CHANNELS
1) What’s the AIDAOR journey?
2) How do the Relationships & Channels
work for that?
- Focus on the process; avoid editorial
- Ask a lot of questions
- Think about it like an investor
EXERCISE: PEER PRESENTATIONS (2 MIN/EACH)
Copyright 2014 Cowan Publishing
REVENUE STREAMS
Don’t overcomplicate it.
When a plumber does
something, you pay them.
If a sink garbage disposal lasts
twice as long, you’d pay more,
right?
ALEX COWAN
AlexanderCowan.com
@cowanSF
Copyright 2014 Cowan Publishing
EXERCISE- REVENUE
GETTING STARTED
1. Where are you providing value? When?
2. How does the customer’s perception of value change over the course
of their experience with the product?
3. How will you collect revenue, administratively?
EXAMPLES
price/unit
access/subscription fees
utilization fees
support & maintenance contracts
hourly billing
fixed price services billing
royalties/revenue share
(3 min)
Revenue
Streams
Copyright 2014 Cowan Publishing
EXERCISE: SEGMENT TO VALPROP TO REVENUE
(2 min)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.The templates here are made available on the same CC license terms as the original canvas.
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
Copyright 2014 Cowan Publishing
THE CANVAS: 3 PARTS
ALEX COWAN
AlexanderCowan.com
@cowanSF
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.The templates here are made available on the same CC license terms as the original canvas.
Offering
Customers
Infrastructure
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
Copyright 2014 Cowan Publishing
THE CANVAS: 3 PARTS
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.The templates here are made available on the same CC license terms as the original canvas.
Offering
Customers
Infrastructure
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
Copyright 2014 Cowan Publishing
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.The templates here are made available on the same CC license terms as the original canvas.
(Cost Structure)
(Key
Partners)
(Key
Activities)
(Key
Resources)
(Revenue Streams)
(Customer
Relationships)
(Channels)
(Value
Propositions)
(Customer
Segments)
3 BUSINESS MODEL TYPES
1. INFRASTRUCTURE-DRIVEN
2. CUSTOMER SCOPE-DRIVEN
3. PRODUCT-DRIVEN
Copyright 2014 Cowan Publishing
3 BUSINESS MODEL TYPES
Infrastructure-Driven
UTILITIES TELECOM COMMODITIES
Scope-Driven
RETAIL BANKING CORP. LAW
Product-Driven
PACKAGED GOODS APP. SOFTWARE MEDIA
Copyright 2014 Cowan Publishing
3 BUSINESS MODEL TYPES
INFRASTRUCTURE
Kimberly-Clark: paper pulp
DuPont: plastics and polymers
SCOPE
Procter & Gamble: cradle to grave products
Baby Store: everything for babies in one place
PRODUCT
EarthBaby, TinyTots, Honest Company:
compostable diapers and service
Copyright 2014 Cowan Publishing
EXERCISE- KEY ACTIVITIES
GETTING STARTED
1. Bounce off your business type
2. What is particular, strategic to your business model?
3. How will you do these things?
4. Will partners be involved? Should they be?
(3 min)
EXAMPLES
INFRASTRUCTURE: a) industry participation b) supply chain
management c) process design and iteration
SCOPE: a) industry participation b) growth marketing online’ [SEO, web
analytics..] c) supplier management
PRODUCT: a) software product development b) growth marketing
online’ [SEO, web analytics..]
Key
Activities
Copyright 2014 Cowan Publishing
EXERCISE- KEY RESOURCES
GETTING STARTED
1. Bounce off your business type
2. What is particular, strategic to your business model?
3. How will you get it?
EXAMPLES
(3 min)
INFRASTRUCTURE: a) ‘track record in [relevant topic]’ b) investment in
infrastructure’ c)’supplier relationships/integration’
SCOPE: a) ‘track record with [customer segment]’ b) channel or partner
relationships
PRODUCT: a) proprietary technology b) rapid prototyping and validation
methodologies c) expertise in [exotic technology]
Key
Resources
Copyright 2014 Cowan Publishing
EXERCISE- KEY PARTNERSHIPS
GETTING STARTED
1. Bounce off your business type
2. What is particular, strategic to your business model?
3. Are you comparatively good at it?
4. Where will partners make the business bigger and more effective?
EXAMPLES
‘direct sales partners’
‘content creators’
‘retail or distribution’
‘creative agency’
‘subcontractors’
‘referral network’
(3 min)
Key
Partnerships
Copyright 2014 Cowan Publishing
COST STRUCTURE
ALEX COWAN
AlexanderCowan.com
@cowanSF
Minimize: Obviously.
Defer: MVP’s; don’t over invest
for the sake of creating ‘output’
Link: To revenue as much as
possible (variable vs. fixed).
Copyright 2014 Cowan Publishing
PROFIT DRIVERS: EXAMPLE
ALEX COWAN
AlexanderCowan.com
@cowanSF
Profit
Drivers
Revenue
Drivers
Tighter Proposition (website, pres., etc.)
Finite Cost
Finite Deliverables
Increased Use of Channels
Ease of Entry
Easy to See What's on MenuUpsell
Intellectual Property Multipliers
Tighter Talent Definition
Simpler Training, Eval., Promotion
Cost of Delivery
Cost
Drivers
Less Consultative Selling
Simplified Contracting
Cost of Sales
Standard Project Management
Comparable Post Mortems
Engagement
Management
(example: product-driven consulting)
Copyright 2014 Cowan Publishing
COST STRUCTURE
GETTING STARTED
1. How do you minimize? Use of partners? Off the shelf tech/
components?
2. How do you defer against customer development milestones?
3. How do you link to revenues?
4. Which are fixed vs. variable? How do they related to revenues?
EXAMPLES
‘fixed cost product development’
‘fixed cost infrastructure investment’
‘variable cost marketing or commissions’
‘variable cost customer onboarding and support’
‘variable cost inputs’
(3 min)
Cost
Structure
Copyright 2014 Cowan Publishing
EXERCISE: COST STRUCTURE & LINKAGES
(3 min)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.The templates here are made available on the same CC license terms as the original canvas.
Cost_1
Cost_2
Cost_3
Partner_1
Partner_2
Partner_3
Activity_1
Activity_2
Activity_3
Resource_1
Resource_2
Resource_3
Revenue_1
Revenue_2
Revenue_3
Relationship_1
Relationship_2
Relationship_3
Channel_1
Channel_2
Channel_3
Proposition_1
Proposition_2
Proposition_3
Persona_1
Persona_2
Persona_3
Copyright 2014 Cowan Publishing
As
Presenter
As
Audience
INFRASTRUCTURE
1) What’s your business type
(infrastructure, scope, product)?
2) What are the major cost drivers and
linkages? How do they tie to revenue?
3) How do the key activities, resources,
and partnerships help that?
- Focus on the process; avoid editorial
- Ask a lot of questions
- Think about it like an investor
EXERCISE: PEER PRESENTATIONS (2 MIN/EACH)
Copyright 2014 Cowan Publishing
AGENDA
Period! Deliverables!
Venture Design I: Achieving
Customer Relevance
Personas
Problem Scenarios-Alternatives-Value Propositions
Start Business Model Canvas
Storyboards
Customer Discovery
Venture Design II: Iterating to
Success
Venture Planning- focal hypotheses, experiments, and minimum
viable ‘product’
Venture Design III: Focusing &
Validating Venture Progress
Review of field work, refinements of approach, planning next
steps.
Venture Design IV: Engineering
Your Business Model!
Detailing your business model and remaining focal
assumptions.
Venture Design V: Designing the
Right Product!
Pairing your learnings on personas & hypotheses with high
quality, actionable inputs (stories & wireframes) for product
development and product validation.
Copyright 2014 Cowan Publishing
RECOMMENDED NEXT STEPS
Follow-On Workshops
1. For Creating Strong Personas
Day in the Life Workshop: http://bit.ly/daynthelife
2. For Structuring Your Product Value Propositions into Testable Assumptions
Venture Design II: Iterating to Success: http://bit.ly/vdesignII
3. For Designing a Profitable Business Model
Venture Design IV: Engineering Your Business Model: http://bit.ly/vdesignIV
4. For Linking the Above to an Effective Product Development Program
Venture Design V: Designing the Right Product: http://bit.ly/vdesignV
Copyright 2014 Cowan Publishing
acowan@alexandercowan.com
@cowanSF
www.alexandercowan.com/venture-design
bit.ly/vdesignIII
www.alexandercowan.com/startup-sprints

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Venture Design Workshop: Business Model Canvas

  • 1. Copyright 2014 Cowan Publishing 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments) Venture Design Workshop IV Engineering Your Business Model
  • 2. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF ABOUT ME Entrepreneur (5x) Intrapreneur (1x)
  • 3. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF ABOUT ME
  • 4. Copyright 2014 Cowan Publishing ABOUT ME www.alexandercowan.com
  • 5. Copyright 2014 Cowan Publishing AGENDA Period! Deliverables! Venture Design I: Achieving Customer Relevance Personas Problem Scenarios-Alternatives-Value Propositions Start Business Model Canvas Storyboards Customer Discovery Venture Design II: Iterating to Success Venture Planning- focal hypotheses, experiments, and minimum viable ‘product’ Venture Design III: Focusing & Validating Venture Progress Review of field work, refinements of approach, planning next steps. Venture Design IV: Engineering Your Business Model! Detailing your business model and remaining focal assumptions. Venture Design V: Designing the Right Product! Pairing your learnings on personas & hypotheses with high quality, actionable inputs (stories & wireframes) for product development and product validation.
  • 6. Copyright 2014 Cowan Publishing THE BUSINESS MODEL CANVAS 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments) ALEX COWAN AlexanderCowan.com @cowanSF
  • 7. Copyright 2014 Cowan Publishing CUSTOMER DEVELOPMENT MVP Nascent Product-Market Fit(?) Scale PIVOTAL ASSUMPTIONS PRODUCT ORGANIZATION PARTNERS, CHANNELS Founders N/A Probably too soon Test, revise, test... MVP Customer dev. team Probably too soon Validated- now tactical Focus: efficiency, extension Full functional organization Yeah, maybe? Validated- now tactical What would a startup do?? Scalable organization Yeah, definitely!
  • 8. Copyright 2014 Cowan Publishing CUSTOMER DEVELOPMENT & THE CANVAS MVP Product-Market Fit(?) Scale Thinking through what you want the business to be for a better idea of what you don’t know. Then use that to focus your discovery.
  • 9. Copyright 2014 Cowan Publishing CUSTOMER DEVELOPMENT & THE CANVAS Focal point for managing your assumptions- which are open? closed? what are their inter-relationships? MVP Product-Market Fit(?) Scale
  • 10. Copyright 2014 Cowan Publishing CUSTOMER DEVELOPMENT & THE CANVAS Focal point for organizing incremental ‘growth hacking’ experiments. MVP Product-Market Fit(?) Scale
  • 11. Copyright 2014 Cowan Publishing CUSTOMER DEVELOPMENT & THE CANVAS Strategy management tool and jumping off point for new ‘intrapreneurial’ ventures and business model innovation. MVP Product-Market Fit(?) Scale
  • 12. Copyright 2014 Cowan Publishing The Canvas is a housekeeping tool. It won’t hand you the gold but it will help you monitor how things are panning out. ALEX COWAN AlexanderCowan.com @cowanSF
  • 13. Copyright 2014 Cowan Publishing Personas IT’S A PROCESS Some techniques are more effective than others. But they all require substantial, consistent exertion.
  • 14. Copyright 2014 Cowan Publishing Foundation in Design Thinking VENTURE DESIGN
  • 15. Copyright 2014 Cowan Publishing Foundation in Design Thinking ExperimentLearn Hypothesize Lean Startup- Style Assumptions VENTURE DESIGN
  • 16. Copyright 2014 Cowan Publishing Foundation in Design Thinking Business Model Canvas ExperimentLearn Hypothesize Lean Startup- Style Assumptions VENTURE DESIGN
  • 17. Copyright 2014 Cowan Publishing Foundation in Design Thinking User Stories & Test Cases Business Model Canvas ExperimentLearn Hypothesize Lean Startup- Style Assumptions VENTURE DESIGN
  • 18. Copyright 2014 Cowan Publishing Foundation in Design Thinking Product & Promotion User Stories & Test Cases Business Model Canvas ExperimentLearn Hypothesize Lean Startup- Style Assumptions VENTURE DESIGN
  • 19. Copyright 2014 Cowan Publishing Business Model Canvas VENTURE DESIGN
  • 20. Copyright 2014 Cowan Publishing THE CANVAS: 3 PARTS ALEX COWAN AlexanderCowan.com @cowanSF 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.The templates here are made available on the same CC license terms as the original canvas. Offering Customers Infrastructure Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3
  • 21. Copyright 2014 Cowan Publishing SEGMENT TO VALUE PROPOSITION MAPPING 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.The templates here are made available on the same CC license terms as the original canvas. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Segment_1 Segment_2 Segment_3 ALEX COWAN AlexanderCowan.com @cowanSF
  • 22. Copyright 2014 Cowan Publishing THE INDEPENDENT VARIABLE Value Propositions Customer Segments 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments) ALEX COWAN AlexanderCowan.com @cowanSF
  • 23. Copyright 2014 Cowan Publishing CUSTOMER SEGMENTS VS. PERSONAS ≈ g Customer Segments Personas ALEX COWAN AlexanderCowan.com @cowanSF
  • 24. Copyright 2014 Cowan Publishing REALLY GETTING CUSTOMER SEGMENTS 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments)
  • 25. Copyright 2014 Cowan Publishing Empathy Creativity DESIGN THINKING
  • 26. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF DESIGN THINKING- APPLICATIONS
  • 27. Copyright 2014 Cowan Publishing Entry1 Urinate as they go2 Edges preferred3 Speedy4 PB > cheese5 Empathy DESIGN THINKING- APPLICATIONS ALEX COWAN AlexanderCowan.com @cowanSF
  • 28. Copyright 2014 Cowan Publishing Check & Repair UV Validation Relevant Placement A Better Mouse Trap Powered by Better Bait Creativity 1 2 3 4 5 DESIGN THINKING- APPLICATIONS ALEX COWAN AlexanderCowan.com @cowanSF
  • 29. Copyright 2014 Cowan Publishing Foundation in Design Thinking DESIGN THINKING- PERSONAS Personas Problem Scenarios Alternatives Your Value Propositions
  • 30. Copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS ALEX COWAN AlexanderCowan.com @cowanSF
  • 31. Copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS ALEX COWAN AlexanderCowan.com @cowanSF
  • 32. Copyright 2014 Cowan Publishing DISCOVERY & LEARNING: THINK-SEE-FEEL-DO ALEX COWAN AlexanderCowan.com @cowanSF
  • 33. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF XPROBLEM SCENARIO DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 34. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF XWhat job(s) are you doing for the customer? What existing need or behavior are you fulfilling? PROBLEM SCENARIO DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 35. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF ? X ALTERNATIVE(S) PROBLEM SCENARIO DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 36. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF ? X If they currently use spreadsheets, watch them use it and get a copy of it. If they currently put notes on the family fridge, ask about it, photograph it. ALTERNATIVE(S) PROBLEM SCENARIO DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 37. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF YOUR VALUE PROPOSITIONS ! ALTERNATIVE(S) ? PROBLEM SCENARIO X DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 38. Copyright 2014 Cowan Publishing ALEX COWAN AlexanderCowan.com @cowanSF X Are they better enough than the alternative(s)? ! ? YOUR VALUE PROPOSITIONS ALTERNATIVE(S) PROBLEM SCENARIO DISCOVERY & LEARNING: PROBLEM SCENARIOS
  • 39. Copyright 2014 Cowan PublishingCopyright 2014 Cowan Publishing ENABLE QUIZ: EXAMPLE PROBLEM SCENARIOS X Helen the HR Manager “It’s hard for me to screen on technical skill sets and I end up sending Frank unqualified recruits.” Frank the Functional Manager “I have limited time and I don’t want to be a jerk. It’s hard to screen for all the relevant technical skill sets.” PERSONA PROBLEM SCENARIO - Call references - Take their word for it - A few probing questions - Take their word for it?ALTERNATIVE(S) !VALUE PROPOSITIONS New ability for meaningful screening of technical candidates, increasing % of successful hires and lowering Frank’s workload on recruiting. Less time doing interviews, and better hires sooner.
  • 40. Copyright 2014 Cowan Publishing STORYBOARDING A PROBLEM SCENARIO AFTER BEFORE BEFORE (using the Alternative) AFTER (with the Value Proposition)
  • 41. Copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Mary the Working Mom Susan the Stay-at-Home Mom Douglas the Dad Nathan the Nanny Ivan the Infant … List at least 3 personas (4 min) use 1 index card/ persona
  • 42. Copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Mary the Working Mom (B, U) Susan the Stay-at-Home Mom (B, U) Douglas the Dad (U) Nathan the Nanny (U) Ivan the Infant (U) … Which are buyers? Users? Both? Note with a ‘B’ and/or a ‘U’ on the Index Card (1 min)
  • 43. Copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION (2 min) Can you think of 5 real examples for each? Use the back of your index cards
  • 44. Copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Which have the most compelling need, desire? If you could only pitch 1 persona type, which? Sort top to bottom (1 min)
  • 45. Copyright 2014 Cowan Publishing EXERCISE- VALUE PROPOSITIONS Brainstorm Problem Scenario- Alternative-Value Proposition Trios. YOUR VALUE PROPOSITIONS! ALTERNATIVE(S) ? PROBLEM SCENARIO X Problem: Mary would like to be more structured and consistent in her use of allowances to teach the link between work and financial rewards. Alternative: Track the completion of chores, homework, etc. manually using paper, boards, notes on her phone. Value Proposition: Use our app to easily and consistently implement best practices tailored to your situation. (7 min.)
  • 46. Copyright 2014 Cowan Publishing EXERCISE- VALUE PROPOSITIONS Prioritize your value propositions- if you could only pitch one, which? After that? Etc. (2 min.)
  • 47. Copyright 2014 Cowan Publishing EXERCISE- MAPPING PERSONAS, VALUE PROP’S 1. List your prioritized personas (Customer Segments block) and Value Propositions 2. Map your personas to your Value Propositions 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.The templates here are made available on the same CC license terms as the original canvas. Activity_1 Activity_2 Activity_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3 (3 min)
  • 48. Copyright 2014 Cowan Publishing PEER PRESENTATIONS PREP! (4 min.) For [target customer] who [statement of the need or opportunity], the [product name] is a [product category] that [statement of key benefit/ key reason to buy]. unlike [primary alternative], our product [statement of primary differentiation]. For [hiring managers] who [need to evaluate technical talent], [Enable Quiz] is a [talent assessment system] that [allows for quick and easy assessment of topical understanding in key engineering topics]. Unlike [formal certifications or ad hoc questions], our product [allows for lightweight but consistent assessments of technical talent]. EXAMPLE
  • 49. Copyright 2014 Cowan Publishing As Presenter As Audience PERSONAS & VALUE PROPOSITIONS 1) Intro. with your positioning statement. 2) Who is/are the top persona(s)? 3) What’s cool about the value prop.? 4) If applicable, how do they differ between the personas? - Focus on the process; avoid editorial - Ask a lot of questions - Think about it like an investor EXERCISE: PEER PRESENTATIONS (4 MIN/EACH)
  • 50. Copyright 2014 Cowan Publishing REALLY GETTING RELATIONSHIPS & CHANNELS 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments)
  • 51. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention How do they first find out that you, your proposition exist? How do you break through the noise floor?
  • 52. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention What is it that engages them with your proposition? How will you connect?
  • 53. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention Are you connecting with an important problem scenario? Is your VP better enough than the alternative?
  • 54. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention What is absolute minimum set of actions required by the customer to have you deliver on their problem?
  • 55. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention How do they become a regular, habitual user? How will you know if that’s happening?
  • 56. Copyright 2014 Cowan Publishing A I D A O R ttention nterest esire ction nboarding etention How do you deepen their involvement? Investment? How do you get them talking about it?
  • 57. Copyright 2014 Cowan Publishing STORYBOARDING AIDA(OR)
  • 58. Copyright 2014 Cowan Publishing STORYBOARDING AIDA(OR)
  • 59. Copyright 2014 Cowan Publishing Using the squares, create a 6-panel AIDA(OR) storyboard (10 min) EXERCISE: AIDA STORYBOARD (10 MIN)
  • 60. Copyright 2014 Cowan Publishing EXERCISE- CUSTOMER RELATIONSHIPS GETTING STARTED 1. Bounce off your take on AIDA(OR) 2. Decouple any concierge/hand-holding actions you use for discovery from your target steady state 3. Variation by segment? 4. How will you know if it’s working? EXAMPLES ‘dedicated personal service’ (onsite? offsite?) ‘personal service’ ‘phone support’ ‘web/email based tickets’ ‘web self-help and forums’ (3 min) Customer Relationships
  • 61. Copyright 2014 Cowan Publishing EXERCISE- CHANNELS GETTING STARTED 1. Bounce off your take on AIDA(OR) 2. Variation by segment? 3. How will you know if it’s working? EXAMPLES SALES hand sales (direct or indirect?) retail web phone delivery (3 min) PROMOTION personal (direct vs. indirect?) specialty media television radio AdWords + SEO Channels
  • 62. Copyright 2014 Cowan Publishing As Presenter As Audience RELATIONSHIPS & CHANNELS 1) What’s the AIDAOR journey? 2) How do the Relationships & Channels work for that? - Focus on the process; avoid editorial - Ask a lot of questions - Think about it like an investor EXERCISE: PEER PRESENTATIONS (2 MIN/EACH)
  • 63. Copyright 2014 Cowan Publishing REVENUE STREAMS Don’t overcomplicate it. When a plumber does something, you pay them. If a sink garbage disposal lasts twice as long, you’d pay more, right? ALEX COWAN AlexanderCowan.com @cowanSF
  • 64. Copyright 2014 Cowan Publishing EXERCISE- REVENUE GETTING STARTED 1. Where are you providing value? When? 2. How does the customer’s perception of value change over the course of their experience with the product? 3. How will you collect revenue, administratively? EXAMPLES price/unit access/subscription fees utilization fees support & maintenance contracts hourly billing fixed price services billing royalties/revenue share (3 min) Revenue Streams
  • 65. Copyright 2014 Cowan Publishing EXERCISE: SEGMENT TO VALPROP TO REVENUE (2 min)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.The templates here are made available on the same CC license terms as the original canvas. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3
  • 66. Copyright 2014 Cowan Publishing THE CANVAS: 3 PARTS ALEX COWAN AlexanderCowan.com @cowanSF 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.The templates here are made available on the same CC license terms as the original canvas. Offering Customers Infrastructure Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3
  • 67. Copyright 2014 Cowan Publishing THE CANVAS: 3 PARTS 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.The templates here are made available on the same CC license terms as the original canvas. Offering Customers Infrastructure Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3
  • 68. Copyright 2014 Cowan Publishing 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.The templates here are made available on the same CC license terms as the original canvas. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments) 3 BUSINESS MODEL TYPES 1. INFRASTRUCTURE-DRIVEN 2. CUSTOMER SCOPE-DRIVEN 3. PRODUCT-DRIVEN
  • 69. Copyright 2014 Cowan Publishing 3 BUSINESS MODEL TYPES Infrastructure-Driven UTILITIES TELECOM COMMODITIES Scope-Driven RETAIL BANKING CORP. LAW Product-Driven PACKAGED GOODS APP. SOFTWARE MEDIA
  • 70. Copyright 2014 Cowan Publishing 3 BUSINESS MODEL TYPES INFRASTRUCTURE Kimberly-Clark: paper pulp DuPont: plastics and polymers SCOPE Procter & Gamble: cradle to grave products Baby Store: everything for babies in one place PRODUCT EarthBaby, TinyTots, Honest Company: compostable diapers and service
  • 71. Copyright 2014 Cowan Publishing EXERCISE- KEY ACTIVITIES GETTING STARTED 1. Bounce off your business type 2. What is particular, strategic to your business model? 3. How will you do these things? 4. Will partners be involved? Should they be? (3 min) EXAMPLES INFRASTRUCTURE: a) industry participation b) supply chain management c) process design and iteration SCOPE: a) industry participation b) growth marketing online’ [SEO, web analytics..] c) supplier management PRODUCT: a) software product development b) growth marketing online’ [SEO, web analytics..] Key Activities
  • 72. Copyright 2014 Cowan Publishing EXERCISE- KEY RESOURCES GETTING STARTED 1. Bounce off your business type 2. What is particular, strategic to your business model? 3. How will you get it? EXAMPLES (3 min) INFRASTRUCTURE: a) ‘track record in [relevant topic]’ b) investment in infrastructure’ c)’supplier relationships/integration’ SCOPE: a) ‘track record with [customer segment]’ b) channel or partner relationships PRODUCT: a) proprietary technology b) rapid prototyping and validation methodologies c) expertise in [exotic technology] Key Resources
  • 73. Copyright 2014 Cowan Publishing EXERCISE- KEY PARTNERSHIPS GETTING STARTED 1. Bounce off your business type 2. What is particular, strategic to your business model? 3. Are you comparatively good at it? 4. Where will partners make the business bigger and more effective? EXAMPLES ‘direct sales partners’ ‘content creators’ ‘retail or distribution’ ‘creative agency’ ‘subcontractors’ ‘referral network’ (3 min) Key Partnerships
  • 74. Copyright 2014 Cowan Publishing COST STRUCTURE ALEX COWAN AlexanderCowan.com @cowanSF Minimize: Obviously. Defer: MVP’s; don’t over invest for the sake of creating ‘output’ Link: To revenue as much as possible (variable vs. fixed).
  • 75. Copyright 2014 Cowan Publishing PROFIT DRIVERS: EXAMPLE ALEX COWAN AlexanderCowan.com @cowanSF Profit Drivers Revenue Drivers Tighter Proposition (website, pres., etc.) Finite Cost Finite Deliverables Increased Use of Channels Ease of Entry Easy to See What's on MenuUpsell Intellectual Property Multipliers Tighter Talent Definition Simpler Training, Eval., Promotion Cost of Delivery Cost Drivers Less Consultative Selling Simplified Contracting Cost of Sales Standard Project Management Comparable Post Mortems Engagement Management (example: product-driven consulting)
  • 76. Copyright 2014 Cowan Publishing COST STRUCTURE GETTING STARTED 1. How do you minimize? Use of partners? Off the shelf tech/ components? 2. How do you defer against customer development milestones? 3. How do you link to revenues? 4. Which are fixed vs. variable? How do they related to revenues? EXAMPLES ‘fixed cost product development’ ‘fixed cost infrastructure investment’ ‘variable cost marketing or commissions’ ‘variable cost customer onboarding and support’ ‘variable cost inputs’ (3 min) Cost Structure
  • 77. Copyright 2014 Cowan Publishing EXERCISE: COST STRUCTURE & LINKAGES (3 min)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.The templates here are made available on the same CC license terms as the original canvas. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Persona_1 Persona_2 Persona_3
  • 78. Copyright 2014 Cowan Publishing As Presenter As Audience INFRASTRUCTURE 1) What’s your business type (infrastructure, scope, product)? 2) What are the major cost drivers and linkages? How do they tie to revenue? 3) How do the key activities, resources, and partnerships help that? - Focus on the process; avoid editorial - Ask a lot of questions - Think about it like an investor EXERCISE: PEER PRESENTATIONS (2 MIN/EACH)
  • 79. Copyright 2014 Cowan Publishing AGENDA Period! Deliverables! Venture Design I: Achieving Customer Relevance Personas Problem Scenarios-Alternatives-Value Propositions Start Business Model Canvas Storyboards Customer Discovery Venture Design II: Iterating to Success Venture Planning- focal hypotheses, experiments, and minimum viable ‘product’ Venture Design III: Focusing & Validating Venture Progress Review of field work, refinements of approach, planning next steps. Venture Design IV: Engineering Your Business Model! Detailing your business model and remaining focal assumptions. Venture Design V: Designing the Right Product! Pairing your learnings on personas & hypotheses with high quality, actionable inputs (stories & wireframes) for product development and product validation.
  • 80. Copyright 2014 Cowan Publishing RECOMMENDED NEXT STEPS Follow-On Workshops 1. For Creating Strong Personas Day in the Life Workshop: http://bit.ly/daynthelife 2. For Structuring Your Product Value Propositions into Testable Assumptions Venture Design II: Iterating to Success: http://bit.ly/vdesignII 3. For Designing a Profitable Business Model Venture Design IV: Engineering Your Business Model: http://bit.ly/vdesignIV 4. For Linking the Above to an Effective Product Development Program Venture Design V: Designing the Right Product: http://bit.ly/vdesignV
  • 81. Copyright 2014 Cowan Publishing acowan@alexandercowan.com @cowanSF www.alexandercowan.com/venture-design bit.ly/vdesignIII www.alexandercowan.com/startup-sprints