1. UMSI Entrepreneurship
Nancy A. Benovich Gilby
Ehrenberg Director of Entrepreneurship
Clinical Associate Professor 
School of Information
UMSI 663 Fall /16/2015

2. Team Project Overview Project Week:
Form your team, establish ground rules, Interviews round 1
Review Customer Development Round 1 and Potentially Pivot, Competition, Market size
Review Customer Development Round 2, Pivot?
Review Customer Development Round 3, Pivot?
KJ Affinity Diagram, final wireframe test with users, Design Thinking for initial brainstorming
Draft pitch, Dataset, backend, build app scaffolding,
All teams pitch and review, MVP prototype
Pitch and demo to VCs, Executives, Entrepreneurs

3. Today is a crazy day (Homecoming Week)
Second Standup - Coordinate Share Out
Start Share Outs – Should you pivot?
2:15-3 Case Study from an Agile Project
Exam preparation 3-4

4. Are you refining your target user MAKING IT SMALLER
Are you refining your target user MAKING IT SMALLER? Are you hearing similar feedback? Team gelling?
How did it go this week? Correct on target users? Problems? Did you succeed in NOT sharing your value hypothesis?

5. The Sequoia 10 Competition Product Business model Team Financials
List competitors
List competitive advantages
Product
Product line-up (form factor, functionality, features, architecture, intellectual property).
Development roadmap.
Business model
Revenue model
Pricing
Average account size and/or lifetime value
Sales & distribution model
Customer/pipeline list
Team
Founders & Management
Board of Directors/Board of Advisors
Financials
P&L
Balance sheet
Cash flow
Cap table
The deal
We like business plans that present a lot of information in as few words as possible. The following business plan format, within 15–20 slides, is all that’s needed.
Company purpose
Define the company/business in a single declarative sentence.
Problem
Describe the pain of the customer (or the customer’s customer).
Outline how the customer addresses the issue today.
Solution
Demonstrate your company’s value proposition to make the customer’s life better.
Show where your product physically sits.
Provide use cases.
Why now
Set-up the historical evolution of your category.
Define recent trends that make your solution possible.
Market size
Identify/profile the customer you cater to.
Calculate the TAM (top down), SAM (bottoms up) and SOM.

6. Your Presentation Format: 7 Minutes
Competition
List competitors
List competitive advantages
Product Detail & Demo
Product line-up (form factor, functionality, features, architecture, intellectual property).
Development roadmap.
Team
Founders & Management
Board of Directors/Board of Advisors
We like business plans that present a lot of information in as few words as possible. The following business plan format, within 15–20 slides, is all that’s needed.
Company purpose
Define the company/business in a single declarative sentence.
Problem
Describe the pain of the customer (or the customer’s customer).
Outline how the customer addresses the issue today.
Solution
Demonstrate your company’s value proposition to make the customer’s life better.
Show where your product physically sits.
Provide use cases.
Why now
Set-up the historical evolution of your category.
Define recent trends that make your solution possible.
Market size
Identify/profile the customer you cater to.
Calculate the TAM (top down), SAM (bottoms up) and SOM.

7. Design Thinking

8. Competition
Landscape: Gartner Magic Quadrant

9. Competition
Matrix: Rack and Stack

10. Market Size TAM = How big is the universe
SAM = How many can I reach with my sales channel
Target Market = who will be the most likely users/customers
Target Market

11. Who is the FIRST target, specifically

12. KJ Method (Jiro Kawakita) and Questioning
Obtain a 360 degree perspective of the actual environment in which the product or service would be used. You explore through:
Open-ended inquiry
Process observation
Participant observation
Build a team united around what’s meaningful to the users from a variety of perspectives….. REMEMBER DIVERSITY IN TEAMS……THIS IS WHY IT IS VITAL FOR INNOVATION

13. Record and Write Top Quotes 2-3 for each interview
Black text, all caps, large, easily readable from 6 feet away
Traceability code: allows trace back to the source for the team but respects confidentiality

14. Prepare Share Out: Customer Development Round 1
Each team will huddle for 15 minutes to identify quotes from interviews to share with the group. Each person should have 2-3 yellow sticky notes with direct quotes, written in the KJ format. SAVE THOSE!!!
Each person should try to share quotes with their team that reinforced or negated the target user or problem
If possible, each team should plan to play ONE recorded quote from their interviews in the Share Out for the class.
Decide as a team if you need to pivot target user, urgent problem, value hypothesis some or all of the above!!
Teams should identify questions about the process so far they might want to ask Nancy, other teams, or lab assistants.
FIRST STANDUP: Tell me
What you did last week to get the interviews done
What you will do this week to get 3 each, 6-9 more done
What obstacles you have

15. This week assignment #10: Final Round
1.Target User
2.Urgent problem
3. Value Hypothesis (may be revised after 3 rounds of interviews, but not shared yet!! )
Each person interviews 3 target users, records, writes 2-3 Post-IT notes on each interview
Record – while recording ask permission, record on your phone, camtasia
Follow the KJ Method, takes about mins per interview:
Target User Bullets
Urgent Problem
Revised Value Hypothesis
One QUOTE recording clip (not the whole recording) from each person that so far best affirms (or not) your urgent problem
Write in the comments whether you have had at least 7 interviews with similar target users that are saying similar things about their urgent problems/areas of most meaning

16. Share Out Team name Target user description
What is their urgent problem?
What is your value hypothesis?
Each team (plays) ONE quote that either strongly support or negates their value hypothesis
Group discussion
change target user, change problems, both, value hypothesis

17. Agile Case Study goals for using agile on your project
what tools you evaluated
what tools you used and examples of what was recorded for each sprint
did you do daily standups?
Did you use points and calculate burn down charts?
Did you determine your team velocity? If so, what was it?
Did you use planning poker?
Did you follow diligently, for how long? And if not, what was the cause of not using it as strictly (too much overhead, not even value....)

18. Swift Concepts & Debugging
Outlets, Actions and Inspector
Walk Through Debugging Examples