Download - LLP-AP workshop 2 – Nov 8 th 2013
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LLP-AP workshop 2 – Nov 8th 2013
Agenda• 8-8.20 Intro and themes for the day• 8.20-11.20 (incl. break)
– Teams present on progress and plans• 11.20-11.50
– Key themes revisited • 11.50-12.00
– Next steps
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Lean Launchpad Roadmap
Customer Discovery 1
Canvas:Value PropositionCustomer Segment
Get out of the bldg:Interviewing
Customer Discovery 2
Canvas:ChannelsCust Relationships
Themes:Cust Decision NetworkDay in the LifeCustomer EcosystemWhitespace GridTAM/SAM/SOM
CustomerValidation 1
Canvas:Cust Relationships(Get-Keep-Grow)Revenue ModelCost Structure
Themes:Finding PivotsMin Viable Product
CustomerValidation 2
Canvas:Revenue Redux
End Game
Interview objectives & scriptInterviews“Day in the Life”Validate/Pivot/Stop
InterviewsCust decision networkCust EcosystemWhitespace GridTAM/SAM/SOM
InterviewsMin. viable productSales roadmapTest selling
Session 1 Session 2 Session 3 Session 4
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Themes: workshop 2
– Customer Decision networks (CD moving towards Validation)
– A day in the life of your customer (Customer Discovery-CD)
– Customer Ecosystem (Channels & Customer Relationships) – customer validation –CV
– Competitors vs features and benefits grid: white space - CV
– Market size: TAM/SAM/SOM (CV)
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BREAK SLIDE
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Customer Decision networks
• Can you identify the multiple players in the customer decision network?
• Their roles?• And how they inter-connect?
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“Service/Product” Journey
• “Who Is Your Customer or Customers?”– :idea: Sketch Your Product and the People it
“touches” through it’s usage.
• Often it is difficult to determine who is your customer. The service journey gives you a “top level” insight.
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7:Service Journey V0.1:
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market Insurance
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market
But what would happen if we replace mammography?
Insurance
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
Breast Radiologists
Technicians Hospitals
Loss of jobsLoss of jobs Eliminates loss leader
Puts emphasis on biopsies
Insurance
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ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
InsuranceSame cost as mammography
($140)Reduced number of biopsies
($1000)
ACOG/ACSImproved healthcare(mammography weak
technique)
Insurance
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MammOpticsHospital purchasing decision tree
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A day in the life of your customer(think user)
• Once you’ve focused in on who your customer really is, can you describe (and sketch) a day in their life? In detail?
• What do they do? How do they do it?• What are their pains?• And potential gains?• What would change if your product/service
was adopted?
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See sketch on wine and water stress tool
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Customer Ecosystem (A start on channels and customer relationships)
• How are you going to get to your customer?• Information• Access• Physical vs. web/mobile• Map the ecosystem for
– Marketing– Sales– Distribution
• Thinking about Get, Keep, Grow
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Market Adoptio
n
Key Opinion Leaders (KOLs)
Medical Journals
Continuing Medical
Education
Conferences
Breast Cancer Advocacy Groups
American College of
Obstetricians and
Gynecologists (ACOG)
MammOpticsMarketing A draft marketing and sales ecosystem
Add their roles and connections
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Customer Relationship: Get–keep-grow
S. Blank, B. Dorf – The Startup Owner’s Manual, 2012
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Competitors vs. features and benefits grid: white space
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MammOpticsTechnology Comparison
Risk Invasiveness
Resolution
False Pos.
False Neg.
Device Cost
Time Require
d
MammOptics
Mammography High High .6 cm 25% 30% 20-50k 20 min.
MRI Medium Medium .1 cm 70% 5% 1000k 45 min.
Ultra-Sound Very Low Very Low >.6 cm >30% >40% 5-15k 20 min.
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Finding white space:from tech functions to customer benefits
feature feature feature feature
(benefit) (benefit) (benefit) (benefit)
US
Comp 1
Comp 2
Comp 3
Sub 1
Sub 2
Sub 3
etc
Tip 1: include substitutes as well as competitorsTip 2: think about the customer job to be done: pains removed, utility gains madeTips 3: Features are reasons to believe benefit claims
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Market size: TAM/SAM/SOM
• TAM• SAM• SOM
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Market/Opportunity Analysis
How Big is It?: Market/Opportunity Analysis– Identify a Customer and Market Need– Size the Market– Competitors– Growth Potential
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How Big is the Pie?Total Available Market
Total Available MarketTAM
• How many people would want/need
the product?• How large is the market be
(in $’s) if they all bought?
• How many units would that be?
How Do I Find Out?• Industry Analysts – Gartner, Forrester• Wall Street Analysts – Goldman, Morgan
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How Big is My Slice?Served Available Market
• How many people need/can use product?• How many people have the money to
buy the product • How large would the market be (in $’s)
if they all bought?• How many units would that be?
How Do I Find Out?• Talk to potential customers
Served Available
MarketSAM
TotalAvailableMarket
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How Much Can I Eat?Target Market
• Who am I going to sell to in year 1, 2 & 3? • How many customers is that?• How large is the market be
(in $’s) if they all bought?• How many units would that be?
How Do I Find Out?• Talk to potential customers• Identify and talk to channel partners• Identify and talk to competitors
TotalAvailableMarket Target
MarketSOM
ServedAvailableMarket
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Themes: workshop 2details in readings and videos
– Customer Decision networks (CD moving towards Validation)
– A day in the life of your customer (Customer Discovery-CD)
– Customer Ecosystem (Channels) – customer validation –CV
– Competitors vs features and benefits grid: white space - CV
– Market size: TAM/SAM/SOM (CV)
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Customer Discovery: Exit Criteria
• What are our customers top problems? – How much will they pay to solve them
• Does our product concept solve them? – Do customers agree? – How much will they pay
• Can we draw a day-in-the-life of a customer – before & after your product
• Can we draw the org chart of users & buyers
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Lean Launchpad Roadmap
Customer Discovery 1
Canvas:Value PropositionCustomer Segment
Get out of the bldg:Interviewing
Customer Discovery 2
Canvas:ChannelsCust Relationships
Themes:Cust Decision NetworkDay in the LifeCustomer EcosystemWhitespace GridTAM/SAM/SOM
CustomerValidation 1
Canvas:Cust Relationships(Get-Keep-Grow)Revenue ModelCost Structure
Themes:Finding PivotsMin Viable Product
CustomerValidation 2
Canvas:Revenue Redux
End Game
Interview objectives & scriptInterviews“Day in the Life”Validate/Pivot/Stop
InterviewsCust decision networkCust EcosystemWhitespace GridTAM/SAM/SOM
InterviewsMin. viable productSales roadmapTest selling
Session 1 Session 2 Session 3 Session 4
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Next steps
• Repeat customer discovery: validate, pivot, stop• TAM/SAM/SOM• Product/Competitor grid: specify MVP• *Channels• *Customer Relationships: get, keep, grow• *Revenue Streams• *Cost structure• Moving towards customer validation• V3 canvas and improved b-model