Transcript BAEN 502 Managing New Venture Growth

Lean LaunchPad
e@UBC
Q3 2013
Paul Cubbon
Blair Simonite
1
The e@ubc team
Paul Cubbon
[email protected]
Blair Simonite
[email protected]
Andy Talbot
Sean Lumb
2
Course Introduction
• Customer discovery and b-model
design
• Course objectives
• How the class works
– Blogs, backchannel
• The Contract
– Instructors
– Mentors
– teams
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Steve Blank’s “Customer
Development” 2006
• Problem:
Startups fail from lack of customers,
not lack of product
• Solution:
Develop Customers and Products
together
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Customer Development is as
important as Product Development
Product Development
Concept/
Bus. Plan
Product
Dev.
Alpha/Beta
Test
Launch/
1st Ship
Customer Development
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
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Steve Blank 2012
A startup is not a small version of a
large company.
A startup is a temporary
organization in search of a
scalable, repeatable, profitable
business model.
Startup Owners Manual
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Search vs. Execution
This course is all about
the Search
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Objectives
• Learn how to organize & execute sales,
marketing and business development in
your search for a viable business model
for your product
• Learn relevant “people skills”
– Listening, inquiry, presenting, mindset
– Entrepreneurship is about people as much as
product
• Have fun along the way
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Principles
• Hypothesize & test your value proposition,
customer segments, revenue model...
• Get out of the building and talk to
customers.
• Fail early, pivot fast!
Our focus is on customers and the market, not
the technology or product.
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Process
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The Biz Plan
People
The Team
Capabilities
Attitude
Reputation
Deal
Reward, Risks
Incentives
Ownership
Harvest
The
Business
Resources
Financial
Physical
Intellectual
Plan
Opportunity
Customers
Strategy
Business
Model
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Chapter 7: Figure 7.3
Technology Ventures: From Idea to Opportunity
The Business
Model Canvas
13
Keep Track of Iterations
Week n
Week 2
Week 1
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Hypotheses
test
Guess
Guess
Guess
Guess
Guess
Guess
Guess
Guess
Guess
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Markets & Customers
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Technology adoption curve
Pragmatists:
Stick with the herd!
Visionaries:
Get ahead of the herd!
Conservatives:
Stick with what’s proven!
Skeptics:
Just say No!
Techies:
Just try it!
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Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN”
New Market “Chasm”
Early
Adopters
Chasm
Pragmatists
Conservatives
Laggards
Copyright © Geoffrey A. Moore, 2005, from the book “DEALING WITH DARWIN”
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? Instant
Success ?
In 4th year after launch.
( ie 6 years )
This is as fast as
it gets.
http://en.wikipedia.org/wiki/File:Ipod_sales_per_quarter.svg
NB. Apple's fiscal year ends in September. This means that Q1 includes the holiday season, which accounts for jumps in the data.
Fiscal Q1 is Oct - Dec of previous year. So Q1 of 2008 is Oct - Dec of 2007, Q2 of 2008 is Jan - Mar of 2008 and so on.
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The Process
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It’s The Scientific Process
•
•
•
•
Hypothesis
Develop Test
Observe
Analyze Results
• Revise Hypothesis
• Do it again
( many times …
Quickly )
• Apply to Customers
•
•
Product / Market Fit is what you are
looking for.
Is not obvious
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Search vs. Execution
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Execution Looks
Like This
Search Looks
Like This
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Bill Buxton, “Sketching User Experience”
Expect multiple iterations
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http://blog.startupcompass.co/what-the-fortune-1000-can-learn-from-the-star
Model –
Knowledge Funnel
“What Do You Know”
YOU
ARE
HER
E
Roger Martin’s Knowledge Funnel
 Mystery
 Heuristic
 Algorithm
! Very Useful for our class !
You start in the Mystery Zone
( the guesses )
Success is getting it to “Heuristic
zone”
(what are the “rules-of-thumb”)
Grand Slam is getting it to the
“Algorithm” zone
(repeatable, scalable, profitable)
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Source: Design of Business, Roger Martin
Summary
How the
Class Works
The 8 weeks
• In Class
– Paul/Blair Presentations
• Process, Theory, Personal Skills
– Every class: teams do project update
presentations
• TAM/SAM, Canvas, Experiments, #Calls
• In Between Classes
– “You” Get Out of the Building
– “You” Blog Your Progress
– “We” monitor & comment on blogs
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Break
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