business analyst in startup
TRANSCRIPT
Michael Kramarenko, PhD, CSO
Business Analyst in Startup
Why? What? How?
Case study: “Vikings”Problem: Slavic lands impoverishment
Visioner: Ragnar Lodbrok
Hypothesis: Rich lands on the West, a sea way to the Westland
Technology: Solar compass invention
Political: Earl’s permission
Legal: Trophies are equally divided by the team
Socio-Cultural: Warrior’s culture
Specific Context
● Industry landscape● Uncertainty & Failures● Startup’s lifecycle stages● Stakeholders
○ CEO, Founders, Investors○ Competitors, Partners, Regulation
● Hypothesis○ Problem○ Customer○ Market size
● Constraints
Domestic IT landscape● Disruptive technological innovations
● Startups:
○ New financing sources
○ High level of uncertainty
○ Constant readiness for pivoting
○ Domestic startups
Venture Investments Q4 2015
Domestic Startups
Failures Statistics
Typical Failure Causes
● Lack of Research○ Problem○ Customer○ Market
● Lack of Development○ Solution○ Value○ Business Model
● Lack of Validation○ Problem○ Solution○ Market
● Greediness & Overconfidence
BA Goals
Support business to create new products and services under conditions of extreme uncertainty:● Attain a rational trade-off between the level of uncertainty and the level of
detailed elaboration of the product and business concept● Facilitate decision making under conditions of incomplete and unverified
information● Mitigate lack of analytical expertise
Specific BA ResponsibilitiesArea Responsibility
Idea development and validation Support
Assumptions and hypothesis formulation Support/Do
Assumptions and hypothesis validation approach Do
Problem statement Do
Market research and analysis approach Do
Business model development Support/Do
Barriers elaboration Do
MVP bounds Support/Do
Knowledge systematisation & Pivoting tracking Do
BA Approach
● Hypothesis○ Personas○ Problems○ Value
● Validation instruments○ Data analysis○ User research○ MVP○ Metrics
● Validation process● Result assessment ● Knowledge systematisation● Next iteration planning
Personas Name
Goals Needs
Age: Problems Expectations
Education: Alternatives Value proposition
Employment:
Marital status: Psychography Fears
Residence: Story
Personality:
Internet usage:
As A…. <role>
I Want… <goal/desire>
So That… <receive benefit>
User Story vs. Hypothesis-driven development
We believe <this capability>
Will result in <this outcome>
We will have confidence to proceed when
<we see a measurable signal>
PROBLEMSOLUTION
Business Model Canvas
PRODUCT MARKET
Lean Canvas
P.E.S.T.L.E analysisFactors Notices Potential impact Implications & importance
H - HighM - MediumL - LowU - Undetermined
Time frame:6 month1 year2 years
Type:Positive +Negative -
Impact:Increasing >Decreasing >Unchanged =
Political
Economic
Sociological
Technological
Legal
Environmental
FrameworkMarket
Research
Analysis
ValidationBoard
Lean CanvasBusiness Model CanvasValue Proposition Canvas
Value Proposition
Product
CustomerDiscovery
Experiment
PrototypeMVP
Stories
Personas Problems
Scale?
Why?
What?
Pivot?
What if?How
much?
Who?
Who?
What?
P.E.S.T.L.ECompetitorsMarket Size
How much?
Adapted Alex Cowan
MetricsData
Foundation
> Personas> Problem statement> Value Proposition Canvas> Lean Canvas or Business Model Canvas> Validation Board> P.E.S.T.L.E & competitor analysis> MVP scope
Knowledge Gaining Process> Idea> Trends> Hypothesis
>> Problem>> Solution>> Customer>> Market>> Business model
> Assumptions> Barriers> Partners> Competitors> Lessons learnt
Pivoting
Elaboration
Scale
Another business
Mindset matters
Empathy
Passion
Creativity
Commitment
Passion
Commitment
Creativity
EmpathyEntrepreneur
Curiosity
Commitment
Speed
Summary
● Customer-centric lightweight framework● Combination strategic, tactical and operational levels● Effort and volume optimisations:
○ Stakeholders○ Business analyst
● Refinement and planning support● “Holistic view” for decision making● Peer presentation support
Online Tools
● https://canvanizer.com/ ● https://leanstack.com ● https://app.xtensio.com/● https://board.tuzzit.com/ ● https://realtimeboard.com/examples/value-proposition-canvas/ ● https://realtimeboard.com/examples/pest-analysis/
Recommended & referenced books
Thank you!
Q&A
