Presentation 3 Assigned 9/24/15 Due 10/1/15 Customer Segments

Homework due for next week *Watch lesson 3 – Customer Segments 3 http://youtu.be/zJUavueR938 10 more interviews by next week! If needed, watch lesson two again (value proposition): 2 http://youtu.be/QncLTCNi0U8 Extra Material: Watch fundability videos https://www.youtube.com/watch?v=vShtjERyhsg Analyzing customer interview results https://www.youtube.com/watch?v=NRTUCot-lpw

Purpose The purpose of this section (Customer Segments) is for you to understand: * Value Proposition + Customer Segment = product-market fit. * Customer pains and gains. * Customer “jobs to be done” * Customer archetypes/personas and why they are useful. * Problem versus needs. * The difference between users, influencers, recommenders, decision makers, economic buyers, and saboteurs. * Market type – explain the difference between Existing, Re-segmented, New, and Clone markets. * Explain why it matters to know which one you are in. * The difference between single- and multi-sided markets.

3rd Presentation Focus: Customer Segments Due next week Talk to at least 10 potential customers to generate findings! 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 seven slides. Slide 1: Title Slide Slide 2: Business Model Canvas with any changes marked in red (example given for slide 2) and multi-sided markets shown in different colors - if it applies (example given for this situation) Slide 3: Value Proposition Canvas, see http://businessmodelgeneration.com/downloads/value_proposition_canvas.pdf What are the products/services, pain relievers, gain creators? What is the MVP you will test? This should may evolve with additional contact with customers Slide 4: What were your experiments to test Value Proposition? Slide 5: What did you learn about your Value Proposition from talking to your first customers? Hypothesis: Here’s what we Thought Experiments: Here’s what we Did Results: Here’s what we Found Action: Here’s what we are going to do Next Slide 6: Diagram of customer workflow Slide 7: What is the resulting Customer Archetype? Draw a diagram. Physical products start prototype, web/mobile products start work on a site or app. 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.

“More informational than performance oriented” Slide 1 “More informational than performance oriented” Talk to at least 10 more customers each Week!

Update the Canvas each Week Changes to Canvas in Red Slide 2

Example of Multi-sided Market for the Canvas Changes to Canvas in Red Font If you have multi-sided markets, show those in different colors like below (blue/red examples) Slide 2

Value Proposition Canvas Detail the Pains and Gains (you may or may not have a two-sided or multi-sided market, as in this example. This may have changed since last week due to new knowledge from customer interviews. Slide 3

How do customers solve this problem(s) today? Slide 4 Does your value proposition solve the problem? How?

Learning Slide 5 Hypothesis: Here’s What We Thought Experiments: Here’s What We Did Results: Here’s What We Found Action: Here’s What We Are Going To Do Next

Customer Workflow Slide 6 Diagram customer workflow Example Example

Customer Archetype Slide 7 Explain the customer archetype (persona) for your target market (info for doing this on the handout). This may change as you learn more about the customer and develop your business model And, draw a diagram of the customer