findthe value proposition through ideation...idea to impact problem statement a real problem: • a...

Find the Value PropositionThrough Ideation

Helping the Purdue community move ideas to impact through new ventures.

Juliana [email protected]

Contents

1) Napkin Drawing

2) Problem Statement

3) Market Landscape

4) Market Development

5) Customer Architype

6) Competitors

7) Pitch Deck Alpha

Idea to Impact

Perspective of Investors

Time Money Resources

$

Idea to Impact

Risk & Return

Financial RiskTime to Revenue

Time to Profit

Market RiskCustomer willing to pay?

Technology RiskNew and Novel?

People RiskExpertise

ExperienceNetwork

Napkin Drawing

Idea to Impact

Napkin Drawing

• Effectively communicate through verbal and visual communication• What it is

• What it does

• NOT too much detail

• Focus on what makes it unique• Avoid industry jargon

Idea to Impact

Napkin Example 1

Idea to Impact

Napkin Example 2

Idea to Impact

Napkin Example 3

Idea to Impact

“I have , it does for customer.”

Conversation Example

Allow the other person to lead the conversation and ask questions.

Create Intrigue

converseexplanation understanding

Idea to Impact

Methods for Sharing

20 Minute Pitch

2 Minute Elevator Pitch

2 Sentence Intro• Product• Differentiator• Customer

+ Problem+ Market size

+ Channels+ Milestones+ Competitors+ Financials

Up to 26 km/L Fuel Economy

5-Speed Transmission

100% Readily Available PartsFound in Sub-Saharan Africa

Hydraulic Brakes on all Wheels

PTO to Attachments

1000 kgPayload

Bench Seating for Passengers

Suspension on all Wheels

32 kmhTop Speed

Our Solution: The MAPS

Designed by students at Purdue University in West Lafayette, Indiana, USA in partnership with ACREST in Cameroon.

Problem Statement

Idea to Impact

Problem Statement

1

Real Problem

4

Quantity

2

Shock Value

3

3rd PartyValidation

Idea to Impact

Problem Statement

A real problem:• A big enough problem that the

customer will pay money to solve it

• An urgency to solve it

• It either ‘saves money or makes

money’

• B2B

• B2C

1

Real Problem

4

Quantity

2

Shock Value

33rd Party

Validation

Idea to Impact

Problem Statement

2

Shock Value

1

Real Problem

33rd Party

Validation

4

Quantity

Has Shock Value:• A statement of discontent about

the problem

Idea to Impact

Problem Statement

3

3rd PartyValidation

2

Shock Value

4

Quantity

1

Real Problem

Includes a 3rd Party Validation:• Reference an external statistic or

source to validate the problem

Idea to Impact

Problem Statement

4

Quantity

3

3rd PartyValidation

1

Real Problem

2

Shock Value

Can Be Quantified:• Know the key metrics of the

problem

• How big is the problem?

Normal

The Challenge: Transportation

31

1000

85% unpaved

Idea to Impact

Problem Statement Example

• In Africa, there are 31 vehicles for every 1,000 people. • 90% of transportation of agricultural produce is done on the heads of

women in children (East Africa) http://www.fao.org/docrep/018/i3259e/i3259e.pdf

The AgRover provides a low cost multi-utility vehicle for transportation and agriculture.

http://www.fao.org/docrep/018/i3259e/i3259e.pdf

Market Landscape

Idea to Impact

Market Landscape

• Demonstrate where your idea fits in the existing landscape

• Illustrate the relationships between the existing solutions

• Identify the key forces that drive the marketplace

• Find your product market fit

X

Idea to Impact

What Category?

Idea to Impact

Building Your Category Map

Tips to Title Your Map:• Think at a high level – 100,000 ft view• Ask yourself- “Where does this idea fit?”• Think broadly about the alternative solutions and

approaches

Idea to Impact

Market Drivers

Tips to Determine Market Drivers:• Ask yourself “What is driving people to chose one solution

over another in the market today?”• Choose your divers based on your ideal customer• Do NOT consider cost/price

Idea to Impact

Brainstorm Current Technologies

Tips to Brainstorm Categories:• Ask yourself “What are the alternative ways the problem is

being solved today?”• Think categories, not individual products• Consider all possible solutions, even low-tech options

Idea to Impact

Map Your Drivers & Categories

Mobile Devices

Smart Pens

Laptop Computers

Smart Watches

Cellular Phones

Smart Phones

Tablet Devices

Portability

Func

tiona

lity

E-reader

Idea to Impact

Highlight the Area of Opportunity

Smart Pens

Laptop Computers

Smart Watches

Cellular Phones

Smart Phones

Tablet Devices

E-reader

Portability

Func

tiona

lity

Mobile Devices

Market Development

Idea to Impact

Market Development

• Explore the best possible customer sets for an innovation• Consider new uses and potential applications beyond your

original thinking• Explore possible fields of use• Drill down and “discover” specific customer subgroups• Determine which customers really value the unique

attributes that you have developed

Idea to Impact

Market Development

A market is.. a broad landscape of buyers looking to solve different types of problems

Example: Healthcare

A segment is…an identifiable sub-group of buyers looking to solve the same kind of problems

Example: Neurosurgeons

A lead customer is...a representative of the target segment (who is ready to work with you now)

Example: Dr. Smith at Cleveland Clinic

Idea to Impact

Build Your Market Development

Unique Featuresof Your Innovation• Two-way in motion IP

connectivity• Predictive switching

between cellular and satellite networks

• Intelligent gateway to monitor, prioritize and route traffic balancing cost and throughput

Rail Emergency Response

Fleet Health Care

Consumer

Paramedics

Commuter Buses

LimousineServices

RemoteDiagnosis

Mobile Clinics

CommuterFire/Rescue

DisasterRecovery

Inter-City

Freight

RVs

Pleasure Boats

EMS

High-Speed

Light Rail

Commercial Trucking

Rental Cars

Idea to Impact






Idea to Impact







Fleet Health Care

Consumer

Idea to Impact







Fleet Health Care

Consumer

Paramedics

Commuter Buses

LimousineServices

RemoteDiagnosis

Mobile Clinics

CommuterFire/Rescue

DisasterRecovery

Inter-City

Freight

RVs

Pleasure Boats

EMS

High-Speed

Light Rail

Commercial Trucking

Rental Cars

Customer Archetype

Idea to Impact

Customer Archetype

• Profile the target customer environment• Share insight on the customer needs, motivations,

organizational characteristics and buying criteria• Sketch a picture of each proposed target customer segment• Outline four key customer attributes:

• Definers• Descriptors• Context• Compatibility

Idea to Impact

Definers

Real Problem Shock Value

Definers:• Geography or Location

• Size of Target Organization

• End User Size/Population

Idea to Impact

Descriptors


Descriptors:• Buying Decision Process

• Titles of Decision Makers

• Product Criteria

• Evaluation Metrics

Idea to Impact

Context


Context:• Customer Uses for the Product

• Application Areas/Departments

• Goals: Cost Cutting, Revenue

• Generation, Service Quality, etc.

Idea to Impact

Compatibility


Compatibility:• Interfaces Required

• Industry Standards

• Certifications and Approvals

• Integration to Existing Platforms

Idea to Impact

Customer Types

Customer Value Proposition TypePatient

Family Member

Doctor

Hospital Admin

Insurance Company

Quicker Recovery

Living Member

Reputation/Result

Money Saved

Fewer Claims

End User

Decision Maker

Influencer/Saboteur

Decision Maker, Influencer, Saboteur

Decision Maker, Influencer, Saboteur,

Payer

Idea to Impact

Milestones

• Outline to the larger plan• Show ability to create detail plan• Visualize your strategic plan• Identify your goals/milestones

• What do you need to do• How much money you need• How long it will take you

MilestonesMilestones

Phase I

Phase IIPhase III

Milestones

Idea to Impact

Milestones

• Milestone 1• Milestone 2• Milestone 3• Milestone 4• Milestone 5

Milestones

• Develop prototype• 10 beta testers

Milestones

• Milestone 1• Milestone 2• Milestone 3• Milestone 4• Milestone 5

Milestones

Phase I

Phase II

Phase III

3-6 Months$250K

$6-12 Months

$750K

Competitive Profile

Idea to Impact

Competitive Profile Tool

Purpose of the tool:• Develop an awareness of the competitive landscape• Create a profile of your key competitors

Tool lets you:• Capture information about your competitors in three areas:

• Product/Technology• Markets/Customers• Organization/Operations

Idea to Impact


Price range, quantity, quality, ability to customize, etc.Price

Difficulty range, connectivity, size, weight, etc.Ease of Use

How accurate are the results, does the product or service deliver what it promises, etc.

Accuracy

Third party tested, meets industry standards, etc.Validated

Identify metrics used by customers to select a product.

Idea to Impact


Company/Product

Step 1:Identify 3-5Competitive Products

Swipe Sense

HanGenix

Clariton

Hyginex

RKN Corp

Idea to Impact

Company/Product

Swipe Sense

HanGenix

Clariton

Hyginex

RKN Corp


Step 2:Identify Evaluation Metrics

NotificationOf

Non-complianceData

TrackingQuality of

Wash PriceWashing orDisinfecting

System

Idea to Impact

Company/Product

Swipe Sense

HanGenix

Clariton

Hyginex

RKN Corp

NotificationOf

Non-complianceData

TrackingQuality of

Wash PriceWashing orDisinfecting

System


Step 3:Indicate Competitor Offerings

×

Idea to Impact

Your Team

Team SkillsTrack RecordDomain ExpertiseAdvisors

Presentation & Pitch Template

findthe value proposition through ideation...idea to impact problem statement a real problem: • a...

Documents