IDEA LAB PRE-STARTUP TOOLKIT A BRIEF GUIDE TO THE IDEATION JOURNEY

Transcription

1 IDEA LAB PRE-STARTUP TOOLKIT A BRIEF GUIDE TO THE IDEATION JOURNEY

2 BUSINESS MODEL CANVAS The Business Model Canvas (BMC) is a visual template summarising core business areas such as value proposition, customer segment, go-to market approach, and finances. During the MVP development the BMC will need to be updated constantly, based on customer feedback, market changes and prototype improvements. It s a one page template which provides an easy overview which people will read! Especially in early stage businesses where ideas get pivot constantly, it s essential to keep the BMC up to date. USEFUL ONLINE RESOURCES: Startups: The Lean Method Make sense of MVP BMC: 9 Steps to Creating a Successful Business Model - Startup Tips THE BUSINESS MODEL CANVAS Key Partners Key Activities Designed for: Designed by: Value Propositions Key Resources Cost Structure Customer Relationships Date: Version: Customer Segments Channels Revenue Streams This work is licensed under the Creative Commons Attribution-Share Alike ٣ ٠ Unported License. To view a copy of this license, visit: ٠/ or send a letter to Creative Commons, ١٧١ Second Street, Suite ٣٠٠, San Francisco, California, ٩٤١٠٥, USA. : Strategyzer AG The makers of Business Model Generation and Strategyzer strategyzer.com 2

3 THE VALUE PROPOSITION CANVAS The Value Proposition Canvas (VP) provides an easy overview and comparison of the value you provide with your product or service and the customer pain points. Important, fill out the customer segment (right side) and value proposition (left side) independently. Don t fill out the customer segment with your idea in mind, only focus on customer problems in general. Once you clearly define the value you provide based on the features of your product or service, you will be able to provide a value worth for customer to pay for. USEFUL ONLINE RESOURCES: Strategyzer s Value Proposition Canvas Explained Value Proposition - How to Build a Startup Charly Knows: The Value Proposition Canvas THE VALUE PROPOSITION CANVAS Value Proposition Customer Segment Gain Creators Gains Products & Services Customer Job(s) Pain Relievers BMC and VP template download : Strategyzer AG The makers of Business Model Generation and Strategyzer Pains strategyzer.com 3

4 CUSTOMER INTERVIEWS Conducting one-on-one conversations with your selected target audience helps you understand if they face the same problem that you are trying to solve (problem statement) and what they have done in the past to solve them (potential competitors). The aim of the conversation is not to focus on your product or service, but to find a repetitive pattern in the interviews to conclude in a problem statement. BEST PRACTICES WHEN CONDUCTING INTERVIEWS: IDENTIFY CONSTRUCTIVE QUESTIONS VS. BAD QUESTIONS Do you think it s a good idea? Bad - Never conduct customer interviews with your idea in mind first What do you want to see in a ideal product? Medium - give you ideas though it s very persionaly and won t give you an understanding of the problems of the customers. Talk me through the last time that happened Good - this question helps you understand the customer journey, daily behavior and what potential competitors come into play. What else have you tried and how are you dealing with it now? Good - this question makes sure the interviewee mentions any solutions they may have tried and what kind of solutions stick with customers. USEFUL ONLINE RESOURCES: The Mum Test The Rules for Customer Interviews How to ask a question: conducting research for your startup 4

5 COMPETITOR ANALYSIS Identifying your competitors and evaluating their strategies to determine their strengths and weaknesses. Research competitors offering products/services in the same field, tackling a similar problem but not necessarily with similar features that you plan to provide. SPORTY Porsche 911 SEAT Leon Cupra Mini Cooper Peugeot 308 GTi VW Golf Audi A4 Honda Civic LUXURY ECONOMY Toyota Aygo Bently Mulsanne Lexus IS Vauxhall Insignia BMW Tourer Volvo V60 GAP IN THE MARKET? FAMILY 5

6 BANK CHECKING ACCOUNTS FEATURES AVAILABLE BANK 1 BANK 2 BANK 3 BANK 4 BANK 5 Instant Issue Debit Card Monthly Service Fee Export Data Option 24/7 Customer Service Free Online Banking Unlimited Transactions Free Mobile App 1-1 Consultation AREAS TO FOCUS: + WHAT PRODUCTS OR SERVICES DO THEY SELL? + WHO ARE THERE CUSTOMERS? + WHAT ARE THEIR CURRENT REVENUE STRATEGIES (MARKETING)? + WHAT ARE EACH COMPETITOR'S STRENGTHS AND WEAKNESSES? + WHAT IS THE FEEDBACK FROM THEIR CURRENT CUSTOMERS? 6

7 USEFUL ONLINE RESOURCES Competitive Analysis Frameworks Small Business Boot Camp: How To Conduct Competitive Analysis For Your Small Business Idea Competitive Strategy 7