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2. Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés What makes a good idea? A successful business idea or product?

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6. What are some product or services that got it right? What were their tactics? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

7. California penetration rate: 41% (15 million users) Mexico: 36 million users (32% of the country) 50% M and 50% F Most common age group: _____________? 350 million users worldwide (5 largest country after China, India, US, and Indo) 2003 - Zukerberg creates Facemash 2004 - 1 million users 2009 - 250 million Popular Facebook Pages? 1st_______? 2nd_______? California penetration rate: 41% (15 million users) Mexico: 36 million users (32% of the country) 50% M and 50% F Most common age group: _____________? 350 million users worldwide (5 largest country after China, India, US, and Indo) 2003 - Zukerberg creates Facemash 2004 - 1 million users 2009 - 250 million Popular Facebook Pages? 1st_______? 2nd_______? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

8. Released in 2001 2006 - 41 million units sold Size Range - 1GB to 16 GB Profit Margin - ? Built for the active lifestyle Customization galore Minimum Viable Product __________? Released in 2001 2006 - 41 million units sold Size Range - 1GB to 16 GB Profit Margin - ? Built for the active lifestyle Customization galore Minimum Viable Product __________? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

9. Historically: Failure rate for new products = __________? Failure rate for new businesses = _________? Historically: Failure rate for new products = __________? Failure rate for new businesses = _________? Take Away: As Innovators and Business People We Have a Lot to Learn! Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

10. Assignment (A): 1) Product Autopsy – Select a product/brand that entered the marketplace (national or international) within the past 3-5 years and subsequently failed. Generate the following to share with the class: - an introduction to the product/brand - a suspected reason for failure “Failure” = 1) the product has either been withdrawn from the market, 2) achieved only a faction of its pre-launch sales forecasts (i.e. disappointing sales) or 3) remains unprofitable. Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

11. Assignment (B): 2) Product Profile - Select a product/brand that entered the marketplace (national or international) within the past 3-5 years and succeeded. Generate the following to share with the class: - an introduction to the product/brand - a suspected reason for success Success = 1) the product has created, expanded or changed a market, 2) exceeded sales forecasts (i.e. better than expected sales) or 3) already profitable. Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

12. Week 1: Session 3 What is Entrepreneurship? Who is an entrepreneur? Eco- E Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

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14. Entrepreneur Tool Kit: Customer Development Market Opportunities Value Propositions Pivots Entrepreneur Tool Kit: Customer Development Market Opportunities Value Propositions Pivots Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

15. Many Entrepreneurs Work via “Start-Ups”… We USED to believe that start-ups are a smaller version of a large company BUT they’re actually very different A company is a business or organization that sells a product or service in exchange for revenue and profit A start-up is a temporary organization designed to search for a repeatable and scalable business plan Source: Steve Blank, 2011 Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

16. We now know Start-Ups Search and Companies Execute More start-ups fail from lack of customers than lack of product development CUSTOMER DISCOVERY Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

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18. What is the job to be done? “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole.” With few exceptions, every job people need or want to do has a social, a functional and an emotional dimension. Job- defined markets are generally much larger than product category-defined markets. Source: Christensen, Clayton M., Scott Cook and Taddy Hall, “What Customers Want from Your Products,” HBS Working Knowledge, January, 16, 2006. Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

19. Most entrepreneurs start a company with hypotheses not facts None of these hypotheses can be tested in the building Therefore – Get out of the building Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

20. What would you ask? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

21. - Who is the customer? Who has the problem? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

22. -What problem(s) are you trying to solve? (Describe from the customer's perspective.) Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

23. -What evidence do you have of this problem (customer statements, etc.)? -How is the customer dealing with the problem now? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

24. What are the specific shortfalls of the current method used by the customer? - What is the cost of those shortfalls to the customer in terms of time, money, market share, risk or customer satisfaction? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés

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26. What is the core environmental problem you would like to help solve? What is the core customer problem you are solving? What is your proposed solution to the customer problem and how could it help address the environmental problem? Week 2 World Class Business and Communications M. en I. Alejandro Flores World Class Business and CommunicationsInstituto Mar de Cortés