llp tecnico-class2
TRANSCRIPT
Agenda for Class 2
• Q&A about Business Model Canvas and Customer Discovery
• Market Types and Market Sizes
• Team Presentations
• Summary about Value Proposition
• Work for Next Week
Common BMC Errors
• More customer segments than a Fortune 100 company
• “End users” as customer segments
• Value proposition/customer segment mismatch
• Forget to search for a repeatable and scalable business model
Market Types
• Clone Market (copy of an existing business model)
• Existing Market (faster, better/high-end)
• Resegmented Market (niche, cheaper/low-end)
• New Market (good enough, innovative)
Market Size
• TAM – Total Available Market
• SAM – Served Available Market
• SOM – Served Obtainable Market
• Year1-3 – Target Market
http://www.slideshare.net/sblank/nsf-lecture-1-bus-model-cust-dev/207
Common Mistakes
• Is it just a feature of someone elses product?
• Is it a “nice to have” product?
• Is it a “got to have” product?
• Can it scale to a company?
Product• Problem statement: what is the
problem?
• Technology/Market Insight: why is this problem hard to solve?
• Market size: how big is this problem?
• Competition: what customers do today?
• Product: how to do it?
Step 2: What is the MVP
• Test your understanding of the problem
• Test your understanding of the solution
• Avoid building products nobody wants
Value Proposition Canvas
http://businessmodelalchemist.com/blog/2012/08/achieve-product-market-fit-with-our-brand-new-value-proposition-designer.html
VPC - Customer Segments
• Customer jobs – what he wants to get done
• Customer pains – undesired costs
• Customer gains – expected benefits
VPC – Value Proposition
• Products and services – list all offers
• Pain relievers – values creation
• Gain creators – benefits created
Presentation for Next Class
• Slide 1: Cover slide
• Slide 2: Business Model Canvas (changes marked in red, different colors for multi-sided markets)
• Slide 3: Value Proposition Canvas (product/services, pain relievers, gain creators, MVP)
• Slide 4: What were your experiments to test Value Proposition
• Slide 5-n: What did you learn about Value Proposition from the interviews (hypothesis, experiments, results, action)
Before Next Class
• Talk to 10 customers about Value Proposition
• Update LPC Narrative and Canvas
• Prepare Class Presentation
• Watch Lecture 3: Customer Segments