week 1. week 2 world class business and communications m. en i. alejandro flores world class...

Week 1

Week 2

World Class Business and Communications

M. en I. Alejandro Flores

World Class Business and CommunicationsInstituto Mar de Cortés

What makes a good idea?

A successful business idea or product?

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What are some product or services that got it right?

What were their tactics?

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California penetration rate: 41% (15 million users)

Mexico: 36 million users (32% of the country) 50% M and 50% FMost common age group: _____________?

350 million users worldwide (5 largest country after China, India, US, and Indo)

2003 - Zukerberg creates Facemash

2004 - 1 million users

2009 - 250 million

Popular Facebook Pages? 1st_______? 2nd_______?

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Released in 2001

2006 - 41 million units sold

Size Range - 1GB to 16 GB

Profit Margin - ?

Built for the active lifestyle

Customization galore

Minimum Viable Product __________?

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Historically:

Failure rate for new products = __________?

Failure rate for new businesses = _________?

Take Away: As Innovators and Business People We Have a Lot to Learn!

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Assignment (A): 1) Product Autopsy – Select a product/brand that entered the marketplace (national or international) within the past 3-5 years and subsequently failed. Generate the following to share with the class:

- an introduction to the product/brand- a suspected reason for failure

“Failure” = 1) the product has either been withdrawn from the market, 2) achieved only a faction of its pre-launch sales forecasts (i.e. disappointing sales) or 3) remains unprofitable.

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Assignment (B): 2) Product Profile - Select a product/brand that entered the marketplace (national or international) within the past 3-5 years and succeeded. Generate the following to share with the class:

- an introduction to the product/brand- a suspected reason for success

Success = 1) the product has created, expanded or changed a market, 2) exceeded sales forecasts (i.e. better than expected sales) or 3) already profitable.

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Week 1: Session 3

What is Entrepreneurship?

Who is an entrepreneur?

Eco- E

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Week 2




Entrepreneur Tool Kit:

Customer Development

Market Opportunities

Value Propositions

Pivots

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Many Entrepreneurs Work via “Start-Ups”…

We USED to believe that start-ups are a smaller version of a large company BUT they’re actually very different

A company is a business or organization that sells a product or service in exchange for revenue and profit

A start-up is a temporary organization designed to search for a repeatable and scalable business plan

Source: Steve Blank, 2011

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We now know

Start-Ups Search and Companies Execute More start-ups fail from lack of customers than lack of product development

CUSTOMER

DISCOVERY

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What is the job to be done?

“People don’t want to buy a quarter-inch drill. They want a quarter-inch hole.”

With few exceptions, every job people need or want to do has a social, a functional and an emotional dimension. Job-defined markets are generally much larger than product category-defined markets.

Source: Christensen, Clayton M., Scott Cook and Taddy Hall, “What Customers Want from YourProducts,” HBS Working Knowledge, January, 16, 2006.

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Most entrepreneurs start a company with hypotheses not facts

None of these hypotheses can be tested in the building

Therefore – Get out of the building

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What would you ask?

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- Who is the customer? Who has the problem?

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- What problem(s) are you trying to solve?

(Describe from the customer's perspective.)

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- What evidence do you have of this problem (customer statements, etc.)?

- How is the customer dealing with the problem now?

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What are the specific shortfalls of the current method used by the customer?

- What is the cost of those shortfalls to the customer in terms of time, money, marketshare, risk or customer satisfaction?

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What is the core environmental problem you would like to help solve?

What is the core customer problem you are solving?

What is your proposed solution to the customer problem and how could it help address the environmental problem?

Week 2




week 1. week 2 world class business and communications m. en i. alejandro flores world class...

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