start-upping · © c.cennamo . 7 . 2001 - apple’s ipod launch "1,000 songs in your...
TRANSCRIPT
MindShaker Meeting Carmelo Cennamo Milano, Luglio 2015
Start-upping
Agenda
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Start-upping: The difficult art of building a business
Part I – The startup phase
Part II – How to create value
Part III – How to retain value
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It all starts from an innovative idea…
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What’s innovative?
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2001 - APPLE’S IPOD LAUNCH
"1,000 songs in your pocket" Ultra-portable 10 hours battery
“Beautifully designed” High quality materials
© Jared C. Benedict, wikimedia
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IPOD SUCCESS
012,5
2537,5
50
July 02 June 03 December03
December04
October 05Uni
ts(in
mili
ons)
iPod Sales
Lancio iTunes Store
iTunes Store 500M music downloads
iTunes Store 50M music downloads
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APPLE NEW BUSINESS MODEL Vertical Model
Product
suppliers
Customers
Platform
External Innovators Customers
Products | Interface
suppliers Matching | Rules | Ecosystem
Architecture
Interaction Ecosystem Players
Complementary Services | Technology | Products
Components
Market Platform Model
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What’s innovative?
The way you solve customer problem
Building value Delivering value
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Build your THEORY (vision) of the world (how it is and what it should be)
TEST & VALIDATE your theory to build a Business Model
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Business Model(s)
Customers discovery
Market validation
Theory Implementation
Idea Opportunity size
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‘a temporary organization to find and build a scalable and repeatable
business model’
A startup is...
Source: S.Blank
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“The architecture of the mechanisms for creating, delivering and capturing value” (Teece)
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Startup phase
Moving beyond the innovative idea Think not just product…but the business model: how you build, deliver and capture value Innovating the business model is your answer to a real & relevant problem
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Part II Value Creation
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Market Creation or “Discovery”?
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Most startup fail because of lack of customers not because of product
(focus on “WHO” more than “WHAT”)
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…you sell …buy …you build & sell
problem you try to solve
feels most the problem
you solve it compared to alternative solutions
Think Problem, not Product
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Think Problem • Problem Statement: What is the problem? Who bears it?
• Technology / Market Insight: Why is it difficult to solve?
• Market Size: How big is the problem?
• Competition: How do customers solve it today?
• Product: What’s your solution?
• Value Proposition: WHY your solution is superior and to whom?
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Gain deep knowledge about: Latent Problem (not aware of the problem) Passive problem (aware of but not motivated/active to find
solution) Active problem: aware of and active to find a solution Vision (have tried already ways to solve the problem…)
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Startups should discover contexts where customers have tried on their own to solve the
problem
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What is the key problem of your customer?
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Has s/he tried already a solution? How does s/he solve the problem?
Different customer profiles
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Hypotheses &
Assumptions
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From Customer Problem to Value Proposition
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Test the problem (design tests for your hypotheses)
Goal: understand the customer’s problem
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1. Designing experiments for customer test
• what do I want to learn?
• what’s the simplest pass/fail test?
• how do I design a simple experiment to run this test?
2. Preparing for customer contacts and engagement
• start with few customers (identify/contact them)
• less interested in the ‘exactly right’ customer
• develop a story and let them speak! (learn!!!!!)
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3. Testing understanding/importance of the problem
• develop problem presentation
• get customers to talk (about problem/potential solution): how they solve the problem today?
• summarize and “score” data
4. Gaining understanding of customers
• the goal is to be the customer3
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5. Capturing competitive and market knowledge
• ‘use’ customers as source of information about market/competition
• talk to competitors!!!
• use free traffic-measurement tools to compare and understand the traffic generated by each competitive product
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Customer Development
Company Building
Customer Creation
Execution
Customer Discovery
Customer Validation
Pivot
Discovery
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Part III
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Value Capture
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Arenas: where will we be active?
Vehicles: how will we get there?
Differentiators: how will we win in the marketplace?
Staging: what will be our speed and sequence of moves?
Economic logic: how will we obtain our returns?
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© Hambrick & Fredrickson, 2005
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“Strong business models generate reinforcing cycles that, over time, determine competitive advantage” (Casadesus e Ricart)
© Casadesus & Ricart, 2011
Deve rendersi conto delle interazioni competitive con le altre imprese!
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Un Business Model vincente
© Casadesus & Ricart, 2011
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© Collis & Rukstad, 2008
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© Collis & Rukstad, 2008
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