disciplined mhealth entrepreneurship

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Dr John Breslin, Director, TechInnovate, NUI Galway Disciplined mHealth Entrepreneurship: Customer First, Mobile App Second Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 1

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Dr John Breslin, Director, TechInnovate, NUI Galway

Disciplined mHealth Entrepreneurship: Customer First, Mobile App Second

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 1

DYK: Entrepreneurship

Public domain photo from Wikipedia / Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 2

● Entrepreneur as a concept was coined by Irishman Richard Cantillon, who first used the term in his 1730 book Essai (officially published in French in 1755)

● He defined entrepreneurs as “non-fixed income earners who pay known costs of production but earn uncertain incomes, due to the speculative nature of pandering to an unknown demand for their product”

● Idea○ Starting point and comes from you and your team - be a pirate!

● Team○ This is the hard stuff and takes time and work○ Some key considerations (passion, values, heterogeneity, size, skills)

● Process○ The 24 steps - be a Navy SEAL!

What do you need to start a successful new venture?

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 4

Q: What is the singular/necessary condition to have a company?● Idea / innovation● Great-looking product● Deep tech and IP● Paying customer● Multidisciplinary team● Investment / runway● Business skills

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 5

A: A paying customer

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 6

Don’t build the mHealth app first...

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 7

● “Build it and they won’t come”● Need to do some market segmentation first around your

idea / innovation, size them, and pick the beachhead● Focus on a customer need, and start with one product,

offered to a homogenous customer “persona”, who acquires it in the same way

● Primary market research is key● Get the free e-book, Talking to Humans

○ http://www.talkingtohumans.com/

“Disciplined Entrepreneurship” by Bill Aulet (Wiley)

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 8

● Can read this online via the James Hardiman Library at NUI Galway

● The new “Disciplined Entrepreneurship Workbook” is also now available

The process: 24 steps

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● Market Segmentation● Beachhead Market● End User Profile● Beachhead TAM Size● Persona● Next 10 Customers

First: who is your customer?

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 10

157M

Women in the US

6M

Pregnant annually

2M

First-time

moms In the US, there are 2M women like Michelle

But not enough… Need to get to $’s per year

TAM sizing example: inTouch

Photo from publicdomainpictures.net / Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 11

inTouchConnecting mommies with their babies

Share via social media

Technology Savvy

Want convenience

Connect with family and friends

Extend her excitement

Share monthly pregnancy photos

IntuitiveComfortable to wear

Update her care network

Capture pregnancy experienceUse mobile “apps” to track health

Indications

Low maintenance

Real-time feedback

Easy to use

US population = 300 million

Sick or dependent is sick

Internet user → 6.3 million mothers

Mothers (2+ kids) @ 4 consultations per year

College educated x $7.99 per consultation

Income = $201 million / year

45-120k

TAM sizing example: LiveDoc

Photo from publicdomainpictures.net / Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 12

LiveDocReassurance when you want it

Second: what can you do for them?

● Define Core● Quantify Value Proposition● High Level Specs● Lifecycle Use Case● Chart Competitive Position

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 13

Value proposition for inTouch

At the moment, Michelle can use...

Heart-rate monitors and heart listening /

audio-recording devicesIntuition Professional ultrasound Dr Google

With inTouch, Michelle may…

Relax with her baby Receive feedback

All photos from publicdomainpictures.net

inTouchConnecting mommies with their babiesFacilitating intimacy and providing reassurance

inTouch

��

Technology is proven• Data collection– Heart rate, movement• Intellectual property– Algorithm that correlates data to positive response

Picture removed due to copyright reasons

LiveDoc MVP mockup available from https://www.slideshare.net/rcolinkennedy/fundamentals-of-entrepreneurial-product-marketing

LiveDoc MVP

Video chat

Upload supporting images

Text chat

We answer this question for $7.99

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 15

Two free workshops week after next

1. Who is your customer? 27 June, 5-7 PM2. What can you do for your customer? 28 June, 5-7 PM

○ The PorterShed○ Visit the events page at https://portershed.com/

Material from MIT 15.390x adapted under CC BY-NC-SA 4.0 16