workshop innovits i tutor imprenditori ottobre 2014 stefano mizio
DESCRIPTION
Contenuti del workshop Innovits dedicato agli startupper e agli itutor della 5 call4ideas. Lean startup , customer development, business model canvas, value proposition canvas, value curve.TRANSCRIPT
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Innovits workshop Framework, processes,
methods
22 ottobre 2014 Stefano Mizio
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• How you will be involved
• Planning
• Method, Process, Tools
Stefano Mizio
2
This talk...
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Call for Ideas: we help startups to emerge
3
Startup Creation
Early Stage
Expansion
•Innovation
Assesment
•Business
Modeling
•Coaching &
Mentoring
•Training
•Business
Model
elaboration
•Pitch day
•Access to
finance
•Hosting
•Training
•Commercial
ization
•Internation.
Support
•Business
Dev.
Inn
ovit
s
Call
Fo
r Id
eas
Jo
urn
ey
“Don’t join an accelerator unless you can win it. That requires being at a stage where you can
actually benefit from meetings with investors and the press”
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Stefano Mizio
Steve Blank 4
Search...
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Stefano Mizio
Steve Blank 5
Startup and Established Company
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Stefano Mizio
METHOD: LEAN STARTUP
PROCESS: CUSTOMER DEVELOPMENT
TOOLS: BMC, MVP, CUSTOMER INTERVIEW,..
6
Framework
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By S. Blank Stefano Mizio
7
Core Principles: scientific method
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Stefano Mizio
Andreas klinger
Missing your opportunity…by focusing on the wrong thing
or by looking at the wrong customer
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Stefano Mizio
10
By S. Blank
The Journey
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Stefano Mizio
“Startups evolve through discrete stages of development. Each stage can be
measured with specific milestones and thresholds”. 11
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Cracking the code of innovation
Stefano Mizio
12
It takes time
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Stefano Mizio
13
Problem - Solution FIT
“The hard part is finding the problem to solve” – K. Sistrom
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Stefano Mizio
Steve Blank 14
Get out of the building
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By S. Blank Stefano Mizio
15
Stop! Let’s start from your idea of business model
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• “A business model is simply the ‘way of doing
business’ that a firm has chosen: its entire system for
creating and providing consistent value to customers and
earning a profit from that activity, as well as benefit for its
broader stakeholders. It refers to the core architecture or
configuration of the firm, specifically how it deploys all
relevant resources (not just those within the company
boundaries), to create differentiated value for customers
at a profit…” (Davenport, T. H., M. Leibold and S. Voelpel (2006). Strategic Management in the Innovation
Economy. Publicis Wiley.)
• The business model is a company’s answer to the
question of how to make money in its chosen business. It
describes, “…as a system, how the pieces of a
business fit together” (Magretta, J. (2002). "Why Business Models Matter." Harvard Business
Review 80(5) May: 86-92.)
Stefano Mizio
16
What does a business model mean?
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• The essence and main components
WHO WHAT HOW
is your customer?
do you offer your customers?
do you do this?
Markets
Customer Segments
Individual Customers
Products & Services
Solutions
Experiences
Create Value
Deliver Value
Capture Value
Delivering the Who, What and How in a concise message. Unique Value Proposition: a single, clear compelling
message that states why you are different and worth buying
Stefano Mizio
By Mark Sniukas 17
What is a business model?
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Who • People who want a quick bite to eat • Get in, order, get served quickly, get
out quickly again
What • Pre-made food prepared constantly according to demand
• Standard menus • Some variations allowed
How • Standardized processes • Central locations with high
frequencies • The key is to serve a maximum
number of people during a given time
By Mark Sniukas
Stefano Mizio
18
McDonald’s Business Model
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OFFER
CHANNELS
RELATIONSHIPS CLIENTS
REVENUE STREAMS COST CENTRES
KEY
PARTNER
KEY
RESOURCES
KEY
ACTIVITIES
Who‘s your customer?
Which
customer segments do you serve?
What‘s your offer?
Which „jobs to be done“
do you satisfy?
What‘s your relationship
to the customer?
What‘s your image?
How do you reach your customers?
How do you make money?
What is driving cost?
What are your core
activities and processes? What are
your main suppliers, partners
and alliances?
What are your main assets
and competencies?
The business model is a company’s answer to the question of how to make money in its
chosen business. It describes, “…as a system, how the pieces of a business fit together”
By A. Osterlwalder Stefano Mizio
A way to depict your Business Model
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Stefano Mizio
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A BMC example - TELCO
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Stefano Mizio
BCG Model
A different model...
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Stefano Mizio
Guess Guess
Guess
Guess
Guess
Guess
Guess
Guess Guess
9 Guesses
By A. Osterlwalder
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fundamental problem in a given situation
that needs a solution
Stefano Mizio
When customers find that they need to get a job done, they
“hire” products or services to do the job.
MIT Sloan Management Review 2007 - Finding the Right Job For Your Product
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Problem means : JBTD
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The Innovator’s toolkit
Key components of a job statement
are an action verb, the object of the
action, and clarification of the context
in which the job is performed
fundamental problem in a given situation
that needs a solution
Stefano Mizio
24
JBTD
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1 • Jobs to be done
2 • Value proposition
3 • Your Business Model
Stefano Mizio
Process to follow
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JTBD: providing a
safer alternative for
scooter families.
Value Proposition:
offering an affordable,
safer, all-weather
alternative for scooter
families.
Business Model:
that goal required radical
changes in the cost
structure of making a Car.
You are standing on a Mumbai road on a rainy day and notice the
large number of motor scooters snaking precariously in and out
around the cars
Stefano Mizio
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Design Value Propositions that match your Customer's needs and
jobs-to-be-done and helps them solve their problems. By A. Osterlwalder Stefano Mizio
Value Proposition Canvas
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Jobs to be done: •What functional jobs is your customer trying get
done? (solve a specific problem, complete a specific
ask)
•What basic needs is your customer trying to satisfy?
(communication,…)
•What emotional jobs is your customer trying to get
done? (feel good, security,…)
Pains (before, during and after getting the JTBD): •What does your customer find too costly?
•What makes your customer feel bad?
•How are current solutions underperforming for your customer?
•What are the main difficulties and challenges your customer encounters?
•What negative social consequences does your customer encounter or fear?
•What risks does your customer fear?
•What common mistakes does your customer make?
•What barriers are keeping your customer from adopting solutions?
Gains: •Which savings would make your customer happy?
•What outcomes does your customer expect and
what would go beyond his/her expectations?
•How do current solutions delight your customer?
•What would make your customer’s job or life
easier?
•What positive social consequences does your
customer desire?
•What are customers looking for?
•What do customers dream about?
•How does your customer measure success and
failure?
•What would increase the likelihood of adopting a
solution?
By A. Osterlwalder Stefano Mizio
Don’t forget
to rank jobs,
pains, gains
Important +
Insignificant -
Step into your customers’ shoes One step toward customer interview
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Which core beliefs you need to test with customers
(analgesics): How we are helping our customers with
their pains (for example: saving them some time thanks to the automatic generation of a shopping list or thanks to a home
delivery service)
(vitamins): How we provide benefits for our customers
(for example: helping them to save some money thanks to some discount coupons).
By A. Osterlwalder Stefano Mizio
Value Map + Customer Profile
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By A. Osterlwalder
WHAT are we
building and
WHY are we
buiding it
Stefano Mizio
30
Static + Dinamic merge
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Stefano Mizio
Ask about experience not opinions 31
Customer Interview: Good and Bad question
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Stefano Mizio
Find Customer
Validate Problem
Validate Solution
Learn&Iterate
32
Customer Interview Process:
No leading question – know what you need to learn
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Stefano Mizio
• How you currently deal with this problem?
• Talk me through the last time you had this problem.
• How much money does this problem cost you?
• Who else should I talk with?
• Would you buy a product which solved this problem?
• How much would you pay for this?
• Do you think it’s a good idea?
• Do you have a problem with this?... well, now I’am!
33
Customer Interview: Good and Bad question
…Awesome feedback: “ we are spending XX euro per month on this!
Proofs it is a problem
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Lean Startup 101
Stefano Mizio
34
There are no facts inside the building
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The Value Hypothesis
The Growth Hypothesis
The Minimum Viable Product
Stefano Mizio
Leaps of faith assumptions
Eric Ries
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By Stephan Roock
Stefano Mizio
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Minimum Viable Product
MVP
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A dummy banner:
404 / "Not Found"
message.
If enough users
click on the
banner, the
product will go
into development
Test and Learn
Smoke test
Stefano Mizio
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“Test" your model and your assumptions with customers
until you find the right business model to scale.
By A. Osterwalder Stefano Mizio
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Stefano Mizio
Pivot or Persevere
Companies that cannot bring themselves to pivot to a new
direction on the basis of feedback from the marketplace can get
stuck in the land of the living dead.
By Eric Ries
39
Land of the living dead
The state where a
company is neither
growing enough nor
dying, consuming
resources and
commitment from
employees and other
stakeholders but not
moving ahead. It is a
terrible drain of human
energy
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By S. Blank Stefano Mizio
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Our map
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Data
Center
+ 1
backup
metod
Telecom /Cell
phones provider
Unreliable
electric grid
Sell
Data center fuel
availability
countries
have grid
problerms
Fuel
costs
Risk theft
of fuel
7/10
Developing
countries / no
reliable grid
DURATHON
Exploration
Stefano Mizio www.leanstartupmachine.com
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Stefano Mizio
The easiest version
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(Business Models)… But they don’t factor in one critical
dimension of performance: competition.
Sooner or later—and it is usually sooner—every enterprise
runs into competitors
P.B. Seddon – G.P. Lewis Strategy and Business Models: what’s the difference? Stefano Mizio
Strategy and Business Models
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Stefano Mizio W.C. Kim R. Mauborgne Blue Ocean Strategy
45
The Value Curve (1)
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Stefano Mizio W.C. Kim R. Mauborgne Blue Ocean Strategy
46
The Value Curve (2)
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0
2
4
6
8
10
Sc
ori
ng
Factors of Competition
Industry Strategy Canvas
Nintendo
Game Industry
Stefano Mizio W.C. Kim R. Mauborgne Blue Ocean Strategy
47
Nintendo Wii example
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VALUE
PROPOSITIO
N
CHANNELS
RELATIONSHIP
S
CUSTOMER
S
REVENUE STREAMS COST CENTRES
KEY
PARTNER
S
KEY
RESOURCES
KEY
ACTIVITIES
Stefano Mizio
Let’s move on – Homework
BMC
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Our social presence
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Keep in touch