pre-startership slides

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Slides for the Allan Gray Orbis pre-startership event.

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ALLAN GRAY ORBIS ndash STARTERSHIP PREPARATION

INTRODUCTION1000 TO 1010

WHO IS STARTUPCHERRY

WHAT IS LAUNCHWEEKEND

A workshop to help you start a successful company

Very Unlikely

VeryLikely

Even chance

Inside the minds of great company

builders

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

INTRODUCTION1000 TO 1010

WHO IS STARTUPCHERRY

WHAT IS LAUNCHWEEKEND

A workshop to help you start a successful company

Very Unlikely

VeryLikely

Even chance

Inside the minds of great company

builders

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHO IS STARTUPCHERRY

WHAT IS LAUNCHWEEKEND

A workshop to help you start a successful company

Very Unlikely

VeryLikely

Even chance

Inside the minds of great company

builders

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT IS LAUNCHWEEKEND

A workshop to help you start a successful company

Very Unlikely

VeryLikely

Even chance

Inside the minds of great company

builders

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Inside the minds of great company

builders

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

EVENTS

PRE-EVENT STARTERSHIP

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

1 PITCH

AT STARTERSHIP

2 VOTE 3 TEAM

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

FAQ

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT IF THEY STEAL MY IDEA

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

1 A NEW SEARCH ENGINE

2 REPLACE EMAIL

3 REPLACE UNIVERSITIES

4 HOLLYWOOD ON THE INTERNET

5 BE THE NEXT STEVE JOBS

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHO DOES THE IP amp PRODUCT BELONG

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

IDEATION SESSION 1010 TO 1110

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

THE STORY OF TOPSY TAIL

Tomima Edmark

bull Tospy Tail $100 million sales in 1991

bull Bowrette turns ribbons into hair ornaments Failure

bull Halo Hat collapsible rain and sun hat Failure

bull Kiss enhancing machine Failure

bull 12 books Moderately profitable

bull Womenrsquos and menrsquos undergarments Moderately profitable

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

OPPORTUNITY MATTERS

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

THE STORY OF TOPSY TAIL

Source Shane (2009)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

INDUSTRY INC 500

1 succeeds

582 succeed

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

NUMBER OF IDEAS EVALUATED BY ENTREPRENEURS

Source Gruber MacMillan and Thompson (2008)

5 or more opportunities

44

opportunities

73 opportuniti

es8

2 Opportunities6

1 opportunity 72

5 opportunities 2

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MORE IDEAS = BETTER IDEAS

Source Terwiesck amp Ulrich (2009)

25

3

35

4

45

5

55

6

65

7

75

Terrible

Qu

ali

ty r

ati

ng

234 opportunities Generated identified

by 47 individuals

Revenge social network

Brokering ldquoMedical Tourismrdquo for semi-elective surgery

Amazing

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

TOP ACCELERATORS amp INVESTORS

100 business1 major success

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Se-ries1

IMPACT ON NEW PRODUCT SALES

79Idea management

Technology amp resource management

Strategic planning

Product developmentprocess

Market intelligence

67

55

48

24

Source Arthur D Little Innovation excellence study (2005)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW MANY IDEAS HAVE YOU CONSIDERED

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

IDEA GENERATION TECHNIQUES

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

1 COMBINING IDEAS

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

1 COMBING IDEAS

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

ldquoCreativity is connecting thingsrdquo

- Steve Jobs

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Platform for social

initiatives

Online site for gourmet foods

Social network for designers

Food sources for runners

African sauce company

African skin care range

Truly green car company

Search engine for banks

Pick up and drive at

sporting events

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

2 QUESTIONS

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Source Dyer Gregersen amp Christensen (2011)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Source Dyer Gregersen amp Christensen (2011)

What is(Who Where

When Why)

What caused it(Why)

What if (What if we added

removed constraints)

Why Why not

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Source Dyer Gregersen amp Christensen (2011)

What makes space travel so expensive

- Elon Musk

Fuel is only 2 of the cost

What if we make a rocket that was

reusable like a car

Build a fully reusable rocket

Questions to understand the world as it is now

Questions to reinventthe future

PRESENT FUTURE

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

3 INDUSTRY KNOWLEDGE

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Previous work experience

20 Discovered serendipitously

4 Systematic search5 Other

71

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

GENERATING IDEAS FROM INDUSTRY

What fields do I have expertise deep knowledge in

bull What industries have you worked in

bull What industries do you know a lot about

bull What fields do you have deep expertise in

bull Where are your areas of expertise

bull What sportshobbies do you have deep knowledge of

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

4 COPY

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

OF CHINESE VC BACKED COPY CATS

Source Economist (2012)

50

Copy CatsOther

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

OF BRAZILIAN VC BACKED COPY CATS

Source Economist (2012)

Copy Cats

Other

70

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO FIND THE BEST EMERGING BUSINESS IDEAS

1 VENTURE CAPITAL

2 ACCELERATORS

3 FAST GROW LISTS

4 CROWDFUNDING

5 INNOVATION COMPETITIONS

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

5 LEAD USERS

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT IS A LEAD USER

1

2

User of a productservice

Develops prototypes to solve problems

before the rest of the market

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

OF INNOVATIONS COMING FROM USERS

Series1

25Computer innovations

Chemical process innovations

Scientific instrument innovations

Semiconductorinnovations

Wire stripping innovations

70

63

11

82

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

LEAD USER INNOVATIONS

Centre Pivot Irrigation

Kite surfing

Mountain Bike

The Internet

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

IDEA GENERATION SESSION ndash TO DO LIST

1 Pick 3 techniques you will use (2 minutes)

bull Combing

bull Questioning

bull Industry knowledge

bull Copy

bull Lead users

2 Try each technique to generate at least 5 ideas (20 minutes)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

BUSINESS MODEL CANVAS1110 TO 1210

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

OBJECTIVE

Help you find a plan that will work

Average plan Awesome plan

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHATrsquoS WRONG WITH MY PLAN

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHATrsquoS WRONG WITH MY PLAN

Source Bhide (2000)

33 66

NoYes

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

entrepreneurs that attend our training significantly changed their business model for the better

97

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT IS A GREAT PLAN

The only thing that matters is productmarket fit- Marc Andreessen

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

You can always feel product-market fit when itrsquos happening

- Marc Andreessen

bull The customers are buying the product just as fast as you can make it bull Usage is growing just as fast as you can add more serversbull Money from customers is piling up in your company checking account

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

You can always feel when product-market isnrsquot happening

- Marc Andreessen

bull The customers arent quite getting value out of the product bull Word of mouth isnt spreading bull Usage isnt growing that fast bull Press reviews are kind of blah bull The sales cycle takes too long bull And lots of deals never close

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

vs

HOW DO YOU ENSURE YOUR PLAN WILL WORK

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO CREATE PLAN THAT WORKS

1 Sketch your business model (Plan)2 Identify key assumptions 3 Run experiments to test if it will work4 Keep changing your plan until it is almost

guaranteed to work

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

THE PLAN

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

ALEX OSTERWALDER

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

CUSTOMER SEGMENTS

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

VALUE PROPOSITION

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

DISTRIBUTION CHANNELS

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MARKETING SALES AND SERVICE

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

REVENUE STREAMS

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

KEY RESOURCES

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

KEY ACTIVITIES

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

KEY PARTNERS

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

COST STRUCTURE

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

How much did the price of coffee consumption change in Swiss households over the last

couple of years

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

800

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

What was Nessprorsquos business model

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

CallCentres

NespressoPods

Nespressocom

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centrespatents

Distributionchannels

NespressoPods

Nespressocom

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

CentresProduction

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod Sales

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Coffee

machine

manufactures

b2c

distribution

coffee

Nespressomachines

businesses

Households(espresso fans)

Retail outlets

Pod SalesProduction

Sales of Machines

Mail Order

Nespresso

StoresCall

Centres

Marketing ampSales

Production

Coffeegrowers

marketing

B2cdistribution

Production

facilitiespatents

Distributionchannels

NespressoPods

Nespressocom

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

BUSINESS MODEL CANVAS ndash TO DO LIST

1 Sketch out your business model canvas (20 minutes)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO PITCH YOUR IDEA IN 30 SECONDS1210 TO 1240

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO PITCH

Hi my name is helliphelliphelliphelliphelliphelliphelliphelliphelliphellip (Your name)

I am starting a company (Company Name)

That (describe solution in simple language)

hellip (customer segment)

will buy from us becausehelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphelliphellip (describe value proposition)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Hi my name is helliphellipCarlo Gonzaga(Your name)

I am starting a companyScooters Pizza(Company Name)

We plan on sellingpizza via delivery and retail locations(describe solution in simple language)

The mass market (customer segment)

Will buy from us becausehelliphelliphellipwe deliver in 39 minutes or it is free (describe value proposition)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Hi my name is helliphellipTravis Kalanick(Your name)

I am starting a companyUber(Company Name)

Thatwill create a mobile app that letrsquos you order a taxi with your phone (describe solution in simple language)

The high end mass market (customer segment)

Will buy from us becausehellipyou can order a ride at the tap of a button and it is cheaper than a traditional taxi (describe value proposition)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Hi my name is helliphellipSteve Jobs(Your name)

I am starting a companyApple(Company Name)

We plan on sellingportable media players(describe solution in simple language)

The high end mass market(customer segment)

Will buy from us becausehellipyou will be able to carry 1000 songs in your pocket (describe value proposition)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Hi my name is helliphellipNick Woodman(Your name)

I am starting a companyGo Pro(Company Name)

We plan on sellingmounted video cameras (describe solution in simple language)

Surfers(customer segment)

will buy from us becausehelliphellipit is waterproof almost unbreakable and takes HD videos and photographs (describe value proposition)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO PITCH ndash TO DO LIST

1 Create your business pitch using the template (5 minutes)

2 Pitch your business idea to a fellow (10 minutes)

bull Ask them to describe what you do and how you can

improve your pitch

bull Have them pitch their business idea to you

bull Improve your pitch

bull Repeat x 2 (ie Pitch your idea to 3 people)

3 If you would like to pitch your idea to the room add your name

the list

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

LUNCH1250 TO 1330

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

CUSTOMER-PROBLEM FIT1250 TO 1330

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO GET A PRODUCT-MARKET FIT (AKA THE WEEKEND PLAN)

1 A customer with problem

2 A solution customers will buy

3 Customers love using it

4 Cost effective marketing

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

CUSTOMER-PROBLEM FITYou have found a customer segment that

has a problem they will pay to have solved

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

CD PLAYER JUMPS amp IT IS A

MISSION TO CARRY CDS

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

OVERSEAS CALLS ARE EXPENSIVE

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

IT IS A HEADACHE GETTING A

TAXI

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

SUCCESSFUL BUSINESSES

SIMPLE SOLUTIONBIG PROBLEM

PIZZA TOOK FOREVER TO

ARRIVE

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WARNING EXAMPLE PUMODO HOW NOT FIND A BIG PROBLEM

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW DO YOU FIND CUSTOMERS PROBLEMS

BIG PROBLEM PROBLEM INTERVIEWS

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

CUSTOMER HYPOTHESIS

bull Who is your customer bull Be as specific as possible bull Target customers that are easy to reach

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

PROBLEM HYPOTHESIS

bull It is the customers problem (not your problem)bull I believe the customer has a (insert problem) achieving

(insert task or goal)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

LOCATION HYPOTHESIS HOW TO FIND CUSTOMERS 1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO CONDUCT A PROBLEM INTERVIEW

INTRODUCE

INDICATORS

INTERVIEW

INTRODUCTIONS

Reminder 4Is

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOW TO CONDUCT A PROBLEM INTERVIEW (4I TECHNIQUE)

INTRODUCE yourselfie Hi my name is [name] I am doing market research for a startup and

want to help you solve your problems and make your life better

Check customer INDICATORS ie Ask questions to test if they are in your target market

Conduct INTERVIEWie Ask Problem Competition and Switch questions

Ask for INTRODUCTIONS ie Ask for introductions to friends and colleagues

Reminder 4Is

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT QUESTIONS TO ASK

PROBLEM

COMPETITION

SWITCHSPEND

Reminder PCS

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

WHAT QUESTIONS TO ASK

PROBLEM What problems did you encounter when (describe problem context)

COMPETITION How do you currently solve the problem Likes Dislikes

SWITCHSPEND Would you switchspend money if there was a product that solved this

problem

Reminder PCS

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

PROBLEM INTERVIEW PRACTICE (3 INTERVIEWS)(40 MINS)PROBLEM What problems did you encounter when (describe problem context) COMPETITION How do you currently solve the problem Likes Dislikes SWITCHSPEND Would you switchspend money if there was a product that solved [repeat back the problem discovered with the first question]

INTRODUCE ie My name is [name] I am doing market research for a startup would it be okay if I asked you a few questions INDICATORS ie Ask questions to test if they are in your target market INTERVIEW ie Ask Problem Competition and Switch questionsINTRODUCTIONS ie Do you have any other friends or colleagues that I could interview

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOMEWORK HOW TO PREPARE FOR STARTERSHIP1500 TO 1600

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

KAUFMANN PROVE IT VIDEO

>

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Will the business work 2 stages of learning

1Discovery

2Validation

BuildSearch

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Will the business work 2 stages of learning

1Research

2Test

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Will the business work 2 stages of learning

1Ask

2Sell

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Will the business work 2 stages of learning

1Learn

2Confirm

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

What question are we trying to answer

Do they want what

we are making

Will they pay for it

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

We canrsquot

predict our own

behaviour

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Will the business work 2 stages of learning

1Interviews

2MVP

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Minimum variable product

A strategy used for fast and quantitative market

testing - Wikipedia

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Minimum variable product

A version of a new product which allows a team to

collect the maximum amount of validated learning

about customers with the least effort

- Eric Ries

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

Minimum variable product

The smallest solution you can build that captures

customer value [gets customers to pay]

- Ash Maurya

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MVP 1 Sales presentations

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

BizLeague

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MVP 2 Landing pageFacebook

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MVP 3 Explainer Video

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

DropBox MVP Landing Page

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

DollarShaveClubcom

>

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

MVP 4 Startup Concierge

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

HOMEWORK BEFORE STARTERSHIP

1 CONDUCT AT LEAST 20 PROBLEM INTERVIEWSbull Keep interviewing until you can predict their answersbull Collect email and cell number bull Get permission to phone them on Startership weekend

2 PLAN YOUR MVP bull Sketch a 1-page plan on how you will quickly test customer interest

using an MVP

3 EXTRA HOMEWORK (OVERACHIEVERS) bull Read Lean Startup amp Running lean bull Do Udacity Startup 101 (Steve Blankrsquos course)bull Build and sell your MVP

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
  • Slide 106
  • Slide 107
  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
  • Slide 111
  • Slide 112
  • Slide 113
  • Slide 114
  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
  • Slide 137
  • Slide 138
  • Slide 139
  • Slide 140
  • Slide 141
  • Slide 142
  • Slide 143
  • Slide 144
  • Slide 145
  • Slide 146
  • Slide 147
  • Slide 148
  • Slide 149
  • Slide 150
  • Slide 151
  • Slide 152
  • Slide 153
  • Slide 154
  • Slide 155
  • Slide 156
  • Slide 157
  • Slide 158
  • Slide 159
  • Slide 160
  • Slide 161
  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

EXERCISE FINDING CUSTOMERS (30 MINS)

1 Friends and family (Facebook Linkedin Email Cell phone) 2 Shopping malls 3 Bored people (Waiting in lines Gautrain Bus stops Taxi ranks) 4 Cold calling (LinkedIn Facebook Google)5 Lead Generation (Landing Page OLX GumTree Google Ads

Facebook Ads) 6 Public spaces (Events Parks conferences)

Put together a plan (Location and time) on how you will meet with customers

  • Allan gray orbis ndash startership preparation
  • INTRODUCTION 1000 TO 1010
  • Who is startupcherry
  • What is launchweekend
  • Slide 5
  • EVENTS
  • AT STARTERSHIP
  • Slide 8
  • Slide 9
  • Slide 10
  • Slide 11
  • Slide 12
  • Ideation session 1010 to 1110
  • The story of topsy tail
  • Slide 15
  • Slide 16
  • The story of topsy tail (2)
  • Industry inc 500
  • Number of ideas evaluated by entrepreneurs
  • More ideas = better ideas
  • Top accelerators amp investors
  • Impact on new product sales
  • Slide 23
  • Slide 24
  • Slide 25
  • 1 Combing ideas
  • Slide 27
  • Slide 28
  • Slide 29
  • Slide 30
  • Slide 31
  • Slide 32
  • Slide 33
  • Slide 34
  • Slide 35
  • Slide 36
  • Slide 37
  • Slide 38
  • Slide 39
  • Slide 40
  • Slide 41
  • Generating ideas from industry
  • Slide 43
  • Slide 44
  • of Chinese vc backed copy cats
  • of Brazilian vc backed copy cats
  • How to find the best emerging business ideas
  • Slide 48
  • What is a lead user
  • Slide 50
  • of innovations coming from users
  • Lead user innovations
  • Idea generation session ndash to do list
  • Business model canvas 1110 to 1210
  • objective
  • Whatrsquos wrong with my plan
  • Whatrsquos wrong with my plan (2)
  • Whatrsquos wrong with my plan (3)
  • Whatrsquos wrong with my plan (4)
  • Whatrsquos wrong with my plan (5)
  • Slide 61
  • What is a great plan
  • Slide 63
  • Slide 64
  • Slide 65
  • Slide 66
  • Slide 67
  • Slide 68
  • Slide 69
  • How do you ensure your plan will work
  • How to create plan that works
  • The plan
  • Alex osterwalder
  • Customer segments
  • Value proposition
  • Distribution channels
  • Marketing sales and service
  • Revenue streams
  • Key resources
  • Key activities
  • Key partners
  • Cost structure
  • Slide 83
  • Slide 84
  • Slide 85
  • Slide 86
  • Slide 87
  • Slide 88
  • Slide 89
  • Slide 90
  • Slide 91
  • Slide 92
  • Slide 93
  • Slide 94
  • Slide 95
  • Slide 96
  • Slide 97
  • Slide 98
  • Slide 99
  • Slide 100
  • Slide 101
  • Slide 102
  • Slide 103
  • Slide 104
  • Slide 105
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  • Business model canvas ndash to do list
  • HOW TO PITCH YOUR IDEA IN 30 SECONDS 1210 to 1240
  • How to pitch
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  • How to pitch ndash to do list
  • Lunch 1250 to 1330
  • Customer-problem fit 1250 to 1330
  • How to get a product-market fit (aka the weekend plan)
  • customer-problem fit
  • SUCCESSFUL BUSINESSES
  • SUCCESSFUL BUSINESSES (2)
  • SUCCESSFUL BUSINESSES (3)
  • SUCCESSFUL BUSINESSES (4)
  • SUCCESSFUL BUSINESSES (5)
  • Warning Example pumodo How not find a big problem
  • How do you find customers problems
  • Customer hypothesis
  • problem hypothesis
  • Location hypothesis How to find customers
  • How to conduct a problem interview
  • How to conduct a problem interview (4I technique)
  • What questions to ask
  • What questions to ask (2)
  • Problem interview practice (3 interviews) (40 mins)
  • Homework how to prepare for startership 1500 to 1600
  • Kaufmann prove it video
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  • homework before startership
  • EXERCISE FINDING CUSTOMERS (30 MINS)

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