Business Model Validation, Reload Greece Boot Camp 2016
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Business Model Validation, Reload Greece Boot Camp 2016, Athens Greece. American College of Greece, September 6th 2016
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Business Model Validation, Reload Greece Boot Camp 2016
- 1. Business Model Validation Reload Greece Boot Camp 2016 Athens September 6th, 2016 Christos Makiyama Silicon Planet
- 3. Photo: Yuri SamoilovAsynchronous Transfer Mode SONET/SDH Voice over IP MPEG2 Scalable Video Codec MPEG2 over ATM H.323 Voice over Frames TDM HDSL ADSL VDSL AAL1 Traffic Shaping V5.1 V5.2 VB5.x Ethernet IP over ATM Bluetooth W-CDMA EM Modeling Inductor Synthesis Software Define Radio Super Resolution MPEG2 3D Image processing Search engine Video communication Data Center Virtualization Die sensitized Solar Cells Fuel Cells Automatic Fiber Management Spectral Imaging IP-PBX DLNA Indoor positioning TDM over IP VPN OC-3/STM-1 OC-12/STM-4 OC-48/STM-16 ISDN T-1/E-1 Cell switching G.723.1 G.729 PON WDM CWDM H.264 H.264-SVC FDDI Token Ring L2 Switch CTI PSTN to SIP Video stabilization Noise Reduction Echo cancelling Powerline communications Video recognition GPU 802.11b/g/n 802.11ac MIMO MEMS Optical Switching LTE ADAS NAT traversal IPSec Voice Compression OSGi Semiconductors Optical Networks Broadband Access Networks Local Area Networks Personal Area Networks Wireless Communications Audio & Video Communications
- 4. Photo: Yuri Samoilov Websplanet Transwitch Telesoft Tdsoft Metalink Routerware Odetics TUT Systems Efficient Networks Routerware RADLAN Audiocodes Fiberzone Networks Westbay PMC-Sierra JDTC Cygnet Hypercomm Jungo Arel Bycast Nicevision Resolute Networks Helic Vidyo Forth Photonics Merlynet Theon Sensors AntcorInAccess Networks Atecom Irida Labs Yodiwo Wavenet 3DMediaBrite Solar Axsh Electro Power Systems Eblana Mirtemis Qubulus Softether 40+ Startups
- 5. August 9, 1995 Netscape IPO - $2.9Billion
- 8. Photo: Yuri Samoilov New Business Models New Platforms New Systems New Technologies
- 9. Business Model, the protagonist of Digital Revolution Photo: Susan Nilsson
- 10. What is a Business Model?
- 13. Business Model Canvas Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure
- 14. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve
- 15. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment
- 16. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW
- 17. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW
- 18. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW Represents the cash a company generates from each customer segment Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 19. Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Represents the cash a company generates from each customer segment Describes the most important assets required to make a business model work Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 20. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Represents the cash a company generates from each customer segment Describes the most important assets required to make a business model work Describes the most important things a company must do to make its business model work Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 21. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Represents the cash a company generates from each customer segment Describes the most important assets required to make a business model work Describes the network of suppliers and partners that make the business model work Describes the most important things a company must do to make its business model work Business Model Canvas Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 22. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Represents the cash a company generates from each customer segment Describes the most important assets required to make a business model work Describes the network of suppliers and partners that make the business model work Describes all costs incurred to operate a business model Business Model Canvas Describes the types of relationships a company establish with specific Customer Segment. GET, KEEP, GROW Describes the most important things a company must do to make its business model work Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 23. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Business Model Canvas Defines the different groups of people or organizations a company aims to reach and serve Describes the bundle of products and services that create value for a specific Customer Segment Describes the types of relationships a company establish with specific Customer Segment Represents the cash a company generates from each customer segment Describes the most important assets required to make a business model work Describes the network of suppliers and partners that make the business model work Describes all costs incurred to operate a business model RevenuesExpenses < Profits Describes the most important things a company must do to make its business model work Describes how a company communicates with and reach its Customer Segments to deliver a Value Proposition
- 26. Apple, iPhone Quality Control Chips & compone nts Manufac turing Apple Brand R&D iOS Branding BoM R&D Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Apps Store IT operation cost
- 27. Samsung, Galaxy S BoM Manufacturing Operation cost Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Market Promotion Marketing
- 28. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Xiaomi, mi1 User Forums SONY Google Services & Software development BoM R&D Distrib ution IT operation cost Xiaomi Brand
- 30. Business Models make the difference and not the products Credit: Procsilas Moscas
- 31. What makes Business Models work?
- 32. How do we Value things?
- 34. Example: Water
- 38. “The 4 Currencies Value Model” Financial Money Emotional Impact to our emotions Effort Time Physiological Impact to our body We monetize(value) everything in our life into 4 “currencies”. These are our basic resources we spend, earn or stock.
- 40. How to test an idea
- 42. Step 1: Find the Problem
- 43. “Fall in love with the problem, not the solution” Uri Levine, Waze co-founder & President
- 44. ? Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure 1. Find a customer problem worth to solve ?
- 45. Get a sense of the opportunity size! Prospects ✕ Spending
- 46. 1. Find a customer problem worth to solve - Collect Data • Google, Google, Google • The World Bank - www.worldbank.org • OECD - www.oecd-ilibrary.org/statistics • EUROSTAT - ec.europa.eu/eurostat • US Open Government Data - data.gov • World Economic Forum - www.weforum.org TIP: Do not spend too much time collecting data at this stage. Just get a sense of the opportunity size!
- 47. Step 2: Test the Problem
- 48. “Get out of the building! Get insights, turn your guesses into facts” Steve Blank, “The Startup Owner’s Manual”
- 50. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Value Proposition Canvas – Alex Osterwalden
- 51. Customer Segment Value Proposition Canvas – Alex Osterwalder Customer Jobs Gains Pains Value Proposition Gain Creators Pain Relievers Products & Services Describe the economic, physiological, effort and emotional gains that your customer expects, desires or would surprised of Describe how your product and services will create the economic, physiological, effort and emotional gains that your customer expects, desires or would surprised of Describe how your product and services will reduce, or eliminate the economic, physiological, effort and emotional costs that your customer experiences Describe what your specific customer segment is trying to accomplish (Jobs to get done) List up all the product and services that your Value Proposition is built around Describe the economic, physiological, effort and emotional pains(costs) that your customer experiences before or after getting the Job done
- 52. 2. Profile your customer - Hypothesis Customer Segment Customer Jobs Gains Pains • Who is the customer? • What he needs to accomplish? • What is the customer’s perception of the problem? (Pains) • What is the customer’s need to solve it? (Gains) ? ? ? ? ? ? ?
- 53. Rank your Customer’s Pains(Cost) and Gains - Hypotheses Physiological EmotionalEffortFinancial 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains TIP: The accumulate gains are expected to be higher than pains(cost) ? ? ? ? ? ? ? ? ? ? ?
- 54. 3. Design your experiment 2. Get insights by observation 3. Get insights by interviews 1. Collect Data
- 55. 3.1 Design your experiment - Collect Data • Google Trends • Google Keyword Planner • Government & organizations statistics – World Bank, OECD, Eurostat etc. • University & Think tank’s reports – MIT Technology Review, Harvard Business Review, McKinsey, Deloitte Tohmatsu, PwC • Google Analytics – Tracking your website traffic • Social Media Analytics ….and many more
- 56. 3.2 Design your experiment – Get Insights by Observation • Dive into your customer’s world from “Value Proposition Design” Alex Osterwalder and others – B2C: Stay with the family – B2C: Stay with the family – B2C: Shadow your customer for a day – B2B: Work alongside/consultant
- 57. 3.3 Design your experiment – Get Insights by Interviews • Face-to-Face interviews – Customers, Industry insiders…. • Poll tools – Pollfish, Facebook, Survey Monkey… • Q&A tools – Quora, Facebook, Linkedin… TIPS: 1.Get facts not opinions! Ask “Who, What, When, Where is….” 2. Ask “How…” to understand how he deals/manages the problem 3. Ask “Why... ” to understand his real motivations
- 58. 3. Design your experiment Learning Card We believed that step 1: hypothesis Insight Name Person Responsible Date of Learning From that we learned that step 3: learnings and insights We observed step 2: observation Therefore, we will step 4: decisions and actions Data Reliability: Action Required: The makers of Business Model Generation and StrategyzerCopyright Strategyzer AG Test Card We believe that Test Name Assigned to Deadline Duration And measure To verify that, we will We are right if The makers of Business Model Generation and StrategyzerCopyright Business Model Foundry AG Test Cost: Data Reliability: Critical: Time Required:
- 59. Step 3: Test the Solution
- 60. 3. Design your Solution – Value Proposition Value Proposition Gain Creators Pain Relievers Products & Services • What is your product? • How your product will relief your customer’s pains? • How your product will create gains to your customer? Customer Segment Customer Jobs Gains Pains ? ? ? ? ? ? ? ? Fit ?
- 63. Kickstarter
- 64. Indiegogo
- 65. Tools MatrixDESIGNTESTING BUSINESS MODEL VALUE PROPOSITION CUSTOMER CREATION BUSINESS MODEL CANVAS VALUE PROPOSITION CANVAS CUSTOMER CREATION CANVAS CUSTOMER DEVELOPMENT LEAN START UP CUSTOMER DEVELOPMENT
- 68. Questions?
- 69. Appendix
- 70. Step 4: Test the Go-To-Market strategy
- 71. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Connecting value proposition with customers…
- 73. Customer Creation Canvas PARTNERS KEY RESOURCES KEY ACTIVITES GETKEEPGROW Up-saleNext SaleCross SaleReferral Purchase Consideration Interests Awareness
- 74. Customer Creation Canvas PARTNERS KEY RESOURCES KEY ACTIVITES GETKEEPGROW Up-saleNext SaleCross SaleReferral Purchase Consideration Interests Awareness STEP1: How will you reach your target customers and make them aware of your product and services? STEP5: How will you sustain the benefits your customer gets from your product and services? STEP6: How will you create new benefits for your customers and purchase additional products and services from you?
- 75. Key Partnerships Key Activities Value Proposition Customer Relationships Customer Segments Key Resources Channels Revenue StreamsCost Structure Customer Creation Canvas
- 76. Physiological EmotionalEffortFinancial 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains 0 +10 -10 Gains Pains Designed for: Designed by: Date: Version: Copyright of Silicon Planet Corporation DRAFT + - + - + - + - The Value Barometer
- 77. PARTNERS KEY RESOURCES KEY ACTIVITES GETKEEPGROW Up-saleNext SaleCross SaleReferral Purchase Consideration Interests Awareness Customer Creation Canvas Copyright of Silicon Planet Corporation Designed for: Designed by: Date: Version: DRAFT
- 78. Credits • Business Model Canvas & Value Proposition Canvas created by Alex Osterwalder • Get, Grow, Keep Model & Customer Development Method are created by Steve Blank • Icons: Designed by Freepik, Vectorgraphit, 100 Slim Icons, Becris , Madebyoliver and distributed by FLATICON