Presentation 1 Assigned 9/10/15 Due 9/17/15 Business Model/Customer Development

Homework due for next week *Watch lessons : 0, 1, 1.5a, and 1.5b: What We Now Know and Business Models and Customer Development and Value Proposition 0https://youtu.be/b3haki8dN7ghttps://youtu.be/b3haki8dN7g 1https://youtu.be/MZW6YJPjfeghttps://youtu.be/MZW6YJPjfeg 1.5ahttp://youtu.be/nFeXFDcXIL8http://youtu.be/nFeXFDcXIL8 1.5bhttp://youtu.be/ztINN-Z_oRkhttp://youtu.be/ztINN-Z_oRk Extra Material: (to watch if you are interested): Introduction to Lean LaunchPad Methodology: Watch Steve Blank videos Startups Versus Big Companies (7:43) The Lean Method (5:20) Customer Discovery: Understanding the Problem (3:22) Customer Empathy (2:24) Getting the MVP Right (3:33) Walk through the Business Model Canvas (3:40) Review Startup Tools: Skim course strategy: Skim prior team presentations:

Purpose The purpose of this section (business model/customer development) is for you to understand: * The 9 parts of a Business Model * Hypothesis versus Facts * Getting out of the building * Web/mobile versus physical * Problem/solution * Product-market fit * Hypothesis/experiment design/test/insight * Iteration versus pivot Students should understand the relationship between canvas components: * Value proposition/customer segments – product-market fit * Customer Relationships: Get/Keep/Grow * Revenue/costs – making money

1 st Presentation Focus: Business Model/Customer Development Due next week These presentations should only last 5-6 minutes each. This type of presentation is more informational than “pitch” oriented. The purpose is to explain the work you have done, your results, and the work you plan to do moving forward. Your presentation should have the following five slides. Slide 1: Title Slide Slide 2: Business Model Canvas Slide 3: Identify your Market Type Slide 4: Identify your Competitors Slide 5: Propose Experiments to test your Value Proposition, Customer Segment, Channel, and Revenue Model of your Business Model Some of the slides are examples of how your slides should appear. The blue font is instructional,. Some of the slides shown do not have graphic examples. Follow the instructions on the slides. For some of them, you may need to create visual examples. There are two examples for the Market Size slide. You will only have one market size slide

Slide 1

Slide 2

Market Type Explain which one Existing New Re-segment (low-cost, niche) Cloning Explain Why this is the case Slide 3

Competition Learn about the competitors and their products/services What are the features & benefits of their products/services? How much market share do they have? What are their strategic relationships? What are their revenues? How can you be better/faster/cheaper/higher quality, etc.? If you say you have “No Competition” this means you have not done your research! Slide 4

Experiments Propose experiments to test value your proposition Customer Segment, Channel, and Revenue Model of your Business Model? Experiments may consist of activities such as observation, or speaking with people in the various segments of the business model canvas (potential customers, channels, etc.) What constitutes a pass/fail signal for each test? Develop a customer/partner contact list? Slide 5

Lean Launchpad information for presentation 1 Steve Blank startup videos : access through the Holler Also available on Udacity (link below) Prior team slides

The following slides are useful information for you, but are not part of your six slide presentation. However, it may help you as you conduct research and prepare your presentation.

This is information about a new tire. It is a good example of the difference between features and benefits. The features help to create the benefits. The benefits are WHY the customer will pay for a product or service.

Get out of the building Customer Interview: The Problem Meeting People you do not know Get them to talk Ask open-ended questions (how, what) Understand how they solve the problem now Ask: what should I have asked CardiaX slides: 6, 8, ?ref= translational-medicine/&from_embed_lead_cta=true&tracking_id=dce891b3ce2921fc

Research Primary (Interviews) Customers End Users (people who use the product) Economic Buyers (people who pay for the product) Suppliers Relationships Interest Ability Cost Industry Experts Opinions Advisory Support

Research Secondary (Databases, Internet, Trade Publications) Market Size Stage Growth Rate Trends TAM/SAM/Target Market Competition Direct Indirect

Resources Books The Startup Owner’s Manual Business Model Generation Sites