autm intro and bmc
TRANSCRIPT
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what is the happiest place on earth?
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the startup story
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THIS IS STARTUP!
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no
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hard work
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long hours
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little or no pay
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>50% gone in the FIRST year
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only 5% ever raise ANY money
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only 0.62% ever raise any VC money
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75% of all VC-backed startups
FAIL
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the math is bad
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it is hard ...
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... but we know a better way
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Evidence-Based Entrepreneurship
and the Business Model
Canvas
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1996 1998 2000 2002 2004 2006 2008 2010 2012
NASDAQ
1000
2000
3000
4000
5000
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$1,000,000,000,000
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we know something now that we didn’t know before
...
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we know something now that we didn’t know before
we know how to build startups
engineer
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CoE
CoS CoC
CoA
CoLA
CoB
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what is a company?
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A organization which sells a product or service in exchange for revenue
and profit
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Dutch West India Company 1620
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1856 - First Org Chart
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1908
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Tools for the 20th Century “Century of the Corporation”
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... but what about startups?
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Startups are a Smaller Version of a Large Company
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Startups are a Smaller Version of a Large Company
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How to create a startup (before 2010) ...
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All I Need to Do is Execute the Plan
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All I Need to Do is Make the Forecast
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Step 1. Business Plan Step 2. Five-year Forecast Step 3. ??? Step 4. PROFIT!
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What we know now (and have known all along)...
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Business Plans are
FICTION
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"Everybody has a plan until they get punched in
the mouth."
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Five year forecast?
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Five year forecast?
MAGICAL THINKING
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Previous
5-Year Plans
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1908
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... but what about startups?
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Startups Search Companies Execute
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what is a startup?
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a temporary organization designed to search
for a repeatable and scalable business model
definition of “startup”
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Business Model Product/Service
Startups Companies
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what is a business model?
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Business Model Generation2010
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Motivation
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A good plan violently executed now is better than a perfect plan executed next week.
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Business Model
Business Plan>
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Motivation #1
a better tool for startups
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Core Idea or Technology Company
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Core Idea or Technology Company
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Core Idea or Technology Company
1
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Core Idea or Technology Company
N
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Motivation #2
shared language for strategic conversations
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(smart people sitting around a table)
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the canvas has a very specific organization
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Think of it as a theater…
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parts of the model
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VP
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Value Proposition
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products & services
A list of all the products and services a value
proposition is built around
52
CO
NC
EP
T C
UST
OM
ER
52
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54
CO
NC
EP
T V
ALU
E P
RO
PO
SITI
ON
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pain relievers
describe how your products and services
alleviate customer pains
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CO
NC
EP
T V
ALU
E P
RO
PO
SITI
ON
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gain creators
describe how your products and services create customer gains
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VP CS
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Customer Segment
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customer jobs
what customers are trying to get done in their work and in their lives
task to perform, problem to solve, needs to satisfy
Job contextCustomer jobs often depend on the specific
context in which they are performed. The context
may impose certain constraints or limitations. For
example, calling somebody on the fly is different
when you are traveling on the train or when you
are driving a car. Or, going to the movies with your
kids is different than going with your partner.
* The “jobs-to-be-done” concept was invented, refined, and popu-larized by two consulting companies, Innosight and Strategyn.
+
-
important
insignificant
Job importanceIt is important to acknowledge that
not all jobs have the same impor-
tance to your customer. Some are
important in a customer’s work or
life because, for example, fail-
ing to get them done could have
significant ramifications. Some are
insignificant because the customer cares about
other things more. Sometimes a customer might
find a job important because it occurs frequently
or because its bad or desired outcome can be
felt or experienced immediately. Customers
often, but not always perceive jobs as important
when the failure to get them done has significant
consequences.
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The following list of trigger questions can help you think of different potential customer pains:
What does your customer find too costly? E.g.
does it take them a lot of time, cost them too
much money, or require substantial efforts?
What makes your customer feel bad? E.g. what
are their frustrations, annoyances, or the things
that give them a headache?
How are current solutions underperforming for
your customer? E.g. which features are they
missing, are there performance issues that
annoy them, or malfunctions they mention?
What are the main difficulties and challenges
your customers encounter? E.g. do they under-
stand how things work, do they have difficulties
getting certain things done, or do they resist
certain jobs for specific reasons?
What negative social consequences do your
customers encounter or fear? E.g. Are they
afraid of a loss of face, power, trust, or status.
What risks do your customers fear? E.g. Are
they afraid of financial, social, or technical risks,
or are they asking themselves what could go
awfully wrong?
What’s keeping your customers awake at night?
E.g. What are their big issues, concerns, and
worries?
What common mistakes do your customers
make? E.g. Are they using a solution the wrong
way?
What barriers are keeping your customers
from adopting a solution? E.g. Are there upfront
investment costs, a steep learning curve, or are
their other obstacles preventing adoption?
Link to these trigger questions online: 39
customer pains
describe bad outcomes, risks, and obstacles related to customer jobs
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The following list of trigger questions can help you think of different potential customer gains:
Which savings would make your customers
happy? E.g. which savings in terms of time,
money and effort would they value?
What quality levels do they expect and what
would they wish for more or less of?
How do current solutions delight your custom-
ers? E.g. Which specific features do they enjoy,
what performance and quality do they expect?
What would make your customers’ jobs or life
easier? E.g. Could there be a flatter learning
curve, more services, or lower costs of owner-
ship?
What positive social consequences do your
customers desire? E.g. what makes them look
good, increase their power or their status?
What are customers looking for most? Are they
searching for good design, guarantees, specific
or more features?
What do customers dream about? E.g. What do
they aspire to achieve or what would be a big
relief to them?
How do your customers measure success and
failure? E.g. How do they measure performance
or cost?
What would increase your customers’ likelihood
of adopting a solution? E.g. do they desire
lower cost, less investment, lower risk, or better
quality?
Link to these trigger questions online: xxx
41
customer gains
describe the more or less expected benefits the customers are seeking
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VP CS
Product /Market Fit!
![Page 107: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/107.jpg)
The set of value proposition benefits that you design to attract customers.
Create ObserveThe set of customer characteristics that you assume, observe, and verify in the market.
Fit
3130
CO
NC
EP
T
30
OutcomeIf a Pain reliever or Gain creator doesn't Fit anything, it may not be creating customer value. Don't worry if not all pains/gains are checked – you can't satisfy them all. Ask yourself, how well does your Value Proposi-tion really fit your Customer?
71
customer profilevalue map
![Page 108: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/108.jpg)
What About My Technology?
![Page 109: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/109.jpg)
Customers want your technology.
MYTH
![Page 110: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/110.jpg)
Customers want your technology.
MYTH
REALITY Customers want their jobs done;
their problems addressed;their pain killed;
their dreams achieved.
![Page 111: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/111.jpg)
Research
Core Idea or Technology Company
![Page 112: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/112.jpg)
Research
Core Idea or Technology Company
Our POV
![Page 113: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/113.jpg)
Research
Core Idea or Technology Company
OVER VALUED
![Page 114: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/114.jpg)
Core Idea or Technology Company
X
![Page 115: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/115.jpg)
Core Idea or Technology Company
UNDER VALUED
![Page 116: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/116.jpg)
Core Idea or Technology Company
> 95% PIVOT
![Page 117: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/117.jpg)
Customers want your technology.
MYTH
REALITY Customers want their jobs done;
their problems addressed;their pain killed;
their dreams achieved.
![Page 118: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/118.jpg)
Why do we call it evidence-based entrepreneurship?
![Page 119: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/119.jpg)
![Page 120: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/120.jpg)
Provide evidence showing “what” customers care about before focusing on “how” to help them
First, establish the customer
![Page 121: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/121.jpg)
Provide evidence showing that your
customers care about how your products
and services kill pains and create gains
Then, develop the value proposition
![Page 122: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/122.jpg)
Provide evidence showing that the way you intend to create, deliver, and capture value is likely to work
Finally, consider the whole model
![Page 123: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/123.jpg)
I find out what the world needs. Then I go ahead
and try to invent it. - Thomas Edison
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parts of the model continued
![Page 125: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/125.jpg)
VP CS
C
![Page 126: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/126.jpg)
![Page 127: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/127.jpg)
VP CS
C KR
![Page 128: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/128.jpg)
![Page 129: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/129.jpg)
VP CS
C
KA
KR
P
![Page 130: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/130.jpg)
![Page 131: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/131.jpg)
VP CS
C
KA
KR
P
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VP CS
C
P
KA
KR
C$
![Page 134: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/134.jpg)
![Page 135: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/135.jpg)
VP CS
C
P
KA
KR
C$ R$
![Page 136: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/136.jpg)
![Page 137: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/137.jpg)
VP CS
C
P
KA
KR
C$ R$
![Page 138: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/138.jpg)
![Page 139: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/139.jpg)
VP CS
C
R$
Cost?
Value?
![Page 140: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/140.jpg)
VP CS
C
P
KA
KR
C$ R$
![Page 141: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/141.jpg)
![Page 142: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/142.jpg)
![Page 143: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/143.jpg)
Soccer Moms
Kids
Grandparents
Make guesses about
who or what goes into
each of the nine
boxes
![Page 144: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/144.jpg)
BUT…they are just
GUESSES!
![Page 145: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/145.jpg)
? ? ??
??
?
??
?
?
??
? ??
![Page 146: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/146.jpg)
![Page 147: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/147.jpg)
the scientific method applies to business
![Page 148: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/148.jpg)
create a startup thesis
the scientific method
![Page 149: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/149.jpg)
create a startup thesis
the scientific method
generate hypotheses? ? ?
??
??
??
?
?
??
? ??
![Page 150: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/150.jpg)
create a startup thesis
the scientific method
generate hypothesesmake predictions
![Page 151: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/151.jpg)
create a startup thesis
the scientific method
generate hypothesesmake predictions
do the iteration loop
![Page 152: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/152.jpg)
the iteration loop
![Page 153: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/153.jpg)
? ? ??
??
?
??
?
?
??
? ??
?Choose one of these
![Page 154: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/154.jpg)
make hypotheses
& predictions
design tests
prioritize hypotheses
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220
![Page 155: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/155.jpg)
* Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
prioritize tests
reflect & learn
run tests
![Page 156: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/156.jpg)
the iteration loopTesting Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220* Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PRO
POST
ION
S
220* Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220* Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221•••
![Page 157: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/157.jpg)
the processTesting Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
thesisTesting Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PRO
POST
ION
S
220* Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
basis for company
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
Testing Overview
Test Card
+
-Extract Hypotheses Prioritize Hypotheses Design Test
Design Testing220
TEST
ING
VA
LUE
PR
OP
OST
ION
S
220 * Working preview content for private review only, do not distribute — © Copyright Osterwalder, Pigneur, Bernarda, Smith, and Papadakos
Learning Card
+
!-
Prioritize Tests Run Tests Capture Learnings Make Progress
221
many repetitions!
![Page 158: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/158.jpg)
critical
![Page 159: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/159.jpg)
the info you need to know is somewhere out
in the world
![Page 160: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/160.jpg)
the info you need to know is not in your lab
or in your office
![Page 161: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/161.jpg)
GOOTB!
![Page 162: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/162.jpg)
advice
![Page 163: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/163.jpg)
The first principle is that you must not fool yourself – and you are the easiest person to fool.
![Page 164: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/164.jpg)
“Now I’m going to discuss how we would look for a new law. In general, we look for a new law by the following process. First, we guess it … no, don’t laugh, that’s the truth. Then we compute the consequences of the guess, to see what, if this is right, if this law we guess is right, to see what it would imply and then we compare the computation results to nature or we say compare to experiment or experience, compare it directly with observations to see if it works.
If it disagrees with experiment, it’s WRONG. In that simple statement is the key to science. It doesn’t make any difference how beautiful your guess is, it doesn’t matter how smart you are who made the guess,… If it disagrees with experiment, it’s wrong. That’s all there is to it.”
![Page 165: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/165.jpg)
useful heuristics
![Page 166: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/166.jpg)
useful heuristics
![Page 167: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/167.jpg)
useful heuristics
![Page 168: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/168.jpg)
remember it’s a process
![Page 169: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/169.jpg)
169
Evidence-based Entrepreneurship
Core Idea or Technology
Customer Discovery
Customer Validation
? ✓
![Page 170: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/170.jpg)
Customer Discovery
Customer Validation
? ✓
Customer Creation
Company Building
Startup Company
![Page 171: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/171.jpg)
171
GOOTB! Expectations
Interviews
Customer Discovery
Customer Validation
? ✓
100+ even more
![Page 172: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/172.jpg)
just a few more…
![Page 173: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/173.jpg)
MVPMinimum Viable Product
![Page 174: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/174.jpg)
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175
Progression
Core Idea or Technology
Customer Discovery
Customer Validation
? ✓✓✓
![Page 176: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/176.jpg)
176
Progression
Core Idea or Technology
Customer Discovery
Customer Validation
? ✓✓✓What if you’re WRONG?
![Page 177: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/177.jpg)
PIVOT
![Page 178: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/178.jpg)
![Page 179: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/179.jpg)
PIVOT vs PIVOT
Customer Discovery
Customer Validation
? ✓
![Page 180: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/180.jpg)
Startup Mode
Customer Discovery
Customer Validation
? ✓
![Page 181: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/181.jpg)
VP CS
C
P
KA
KR
C$ R$
![Page 182: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/182.jpg)
Start here …
Customer Discovery
Customer Validation
? ✓
![Page 183: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/183.jpg)
a temporary organization designed to search
for a repeatable and scalable business model
definition of “startup”
![Page 184: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/184.jpg)
![Page 185: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/185.jpg)
NYour search begins
OW
![Page 186: AUTM Intro and BMC](https://reader034.vdocuments.us/reader034/viewer/2022042717/55d767d5bb61ebda238b4597/html5/thumbnails/186.jpg)
venturelab.gatech.edu
@venturelab / @keithmcgreggor
75 Fifth St NW, Suite 415, Atlanta GA 30308