Entrepreneurship guest lecture TIlburg University handout

(c) Gustaaf.Vocking@power2improve.nl

Gustaaf
Vocking

Ø  Master
of
Econometrics

Ø  Bachelor
of
Business
informa7on
science

Ø  Psychology
and
post
Doc
didac7c
skills

Ø  Execu7ve
MBA

Ø  Entrepeneur
since
age
of
15

Ø  Management
Coach/Consultant/Trainer

Ø  Leadership/Communica7ons/Brain
skills

Ø  Managers/Professionals/Experts

Ø  Europe
&
USA

Ø  10
days
per
year
for
students

Ø  >10.000
students
and
experts
trained


Truth
about
what
we
buy


People
buy…

People
don’t
want
to

buy
a
quarter-‐inch

drill…

They
want
a
quarter-‐
inch
hole.

Professor
Theodore
LeviR
(Harvard)


Truth
about
business
ideas


Once
upon
a
7me
(okay
1992)

Ø Real
estate
buying

Some7me
later:
2001

Ø So
much
trouble

Ø There
must
be
a

computer
system…

Ø …with
photos…

Ø …with
descrip7ons…

Ø …let’s
code
it…

Ø Brilliant!!!

Ø Nobody
wanted
to
buy
it


Diminishing
degrees
of
freedom
approach

•  Pick
a
general
solu7on

product
or
service

•  Narrow
down

Ø Customer
segment

Ø Value
proposi7on

Un7l
you
arrive
at

unique
product/
service

=
Business
idea


Desire
based
Start-‐up
(Inside-‐out)

Pick
a

q A
talent
that
you
have.

q A
product/service
that
you

would
love
to
provide
and/
or
strongly
feel
people

want/need


Truth
about
essen7al
skills


Truth
about
startup
money


A
simple
idea
that
requires
money

…is
a
mobile
app
that
synchronizes

music
across
mul7ple
devices
over
a

mobile
network.
This
new

technology
unlocks
the
poten7al
for

peer-‐to-‐peer
mobile
surround

sound
and
shared
listening.

Whether
you're
orchestra7ng
a

mobile
ﬂash
mob
or
riding
on
the

bus
with
a
friend
discretely
jamming

out
on
your
headphones,
this
app

enables
us
to
enjoy
music
together

wirelessly
no
maRer
where
we
are.


A
simple
idea
that
requires
money


Kickstarter.com


Truth
about
Business
Plans


Business
plans…

•  …of
startups
don’t

survive
customer

contact.

•  …are
mainly
useful

since
they
require
your

thinking
upfront.

•  …are
hardly
ever
used
if

the
startup
does
not

require
funding.


Value
Proposi7on
Canvas:
Runtroll
example


VPC:
Runtroll
example
(for
runners)


VPC:
Runtroll
example
(for
companies)


wer cost, less investments, lower risk, better quality, performance,
…)

Describe what a specific customer segment is trying to get done. It could be the tasks
they are trying to perform and complete, the problems they are trying to solve, or the
needs they are trying to satisfy.

Customer:
Job(s)

Customer Job(s)

What functional jobs are you helping your customer get done?
(e.g. perform or complete a specific task, solve a specific problem, …)

Which savings would make your customer happy?
(e.g. in terms of time, money and effort, …)

What social jobs are you helping your customer get done?

What outcomes does your customer expect and what
would go beyond his/her expectations?

(e.g. trying to look good, gain power or status, …)

(e.g. quality level, more of something, segment is trying to get done. It could be the tasks to
Rank each gain according to its relevance
Describe what a specific customerless of something, …)
your customer.
What emotional jobs are you helping your customer get done?
they are tryingdo current solutions delight your customer? they areit trying to is it insignificant?
How to perform and complete, the problems
Is substantial or solve, or the
(e.g. specific features, performance, quality, …)
For each gain indicate how often it occurs.
(e.g. esthetics, feel good, security, …)

What would make your customer’s job or life easier?
(e.g. flatter learning curve, more services, lower cost of ownership, …)

What functional jobs are you helping your customer get done?
What positive social
(e.g. perform or complete aconsequences does your specific problem, …)
specific task, solve a
customer desire?

What basic needs are you helping your customer satisfy?
(e.g. communication, sex, …)

(e.g. makes them look good, increase in power, status, …)

What social jobs are youfor?
What are customers looking helping your customer get done?
(e.g. good design, guarantees, specific or more features, …)

What do customers dream about?

(e.g. big achievements, big reliefs, …)
t does your customer security, …) costly?and failure?
How feel good, find too
(e.g. esthetics,does your customer measure success

es a lot by. (e.g. performance, cost, …)
be surprisedof time, costs too much money, requires substantial efforts, …)

Besides trying to get a core job done, your customer performs ancillary jobs in different roles. Describe the jobs your customer is trying to get done as:

Buyer (e.g. trying to look good, gain power or status, …)

Customer Job(s)

What would increase the likelihood of adopting a solution?
What basic needs are you helping your customer satisfy?
Co-creator (e.g. esthetics, feel good, security, …)
(e.g. lower
investments,
t makes your …) cost, less sex, …) lowerbad? quality, performance,
customer feel risk, better
(e.g. communication,
design,
they are trying to perform and complete, the problems they are trying to solve, or the services that help customers dispose
Transferrer (e.g. products and
strations, annoyances, things that give them a headache, …)

and cost savings.

of a product, transfer it to others, or resell, …)

are current solutions underperforming for
Besides trying to get a core job done, your customer performs ancillaryWhat functional jobsspecific task, solve a specificcustomer get done?
jobs in or complete are you helping your problem, …)
(e.g. performdiffer- a
customer?
ent roles. Describe the jobs your customer is trying to get done as:

k of features, performance, malfunctioning, …)

t are the main difficulties and challenges
customer encounters? feel good, security, …)
Co-creator (e.g. esthetics,

What social jobs are you helping your customer get done?

Rank each job according to its significance to your customer. Is it
crucial or is it done?
What emotional jobs are you helping your customer gettrivial? For each job indicate how often it occurs.


Outline in which specific context a job
is done, because that may impose
constraints or limitations.
Besides trying to get a core job done, your customer performs ancillary jobs in differWhat basic needs are you helping your customer satisfy?

derstanding how things work, difficulties getting things done,
nce, Transferrer (e.g. products and services that help customers dispose
…)


t negative social consequences does your
What does
customer
mer encounterlot ofyour costs too muchfind too costly? efforts, …)
(e.g. takes a or fear?
time,
money, requires substantial



Co-creator (e.g. esthetics, feel good, security, …)
Rank each pain according to that help customers
crucial or is it trivial? For each job indicate how often it(c)Transferrer (e.g. products and servicesthe intensity itdispose
occurs. transfer it to others, or resell, …)
of a product,
Gustaaf.Vocking@power2improve.nl
t risks does your customer underperforming for
fear?
How are current solutions
represents for your customer.

of face,
dsrisks that your power, trust, or status, …) feel bad?
What makes your customer
fter getting the
(e.g. frustrations, annoyances, things that give them a headache, …)

(e.g. while driving, outside, …)

What are customers looking for? jobs are you
What social
(e.g. good design, guarantees, specific orto look good, gain powe
(e.g. trying more features, …)

Gain Creators

scribe how your products and services create customer gains.
w do they create benefits your customer expects, desires or would be surprised
including functional utility, social gains, positive emotions, and cost savings?

Customer:
Pains

Pains
Describe negative emotions, undesired costs and situations, and risks that your
customer experiences or could experience before, during, and after getting the
job done.

Pain Relievers

scribe how your products and services alleviate customer pains. How do they
minate or reduce negative emotions, undesired costs and situations, and risks
ur customer experiences or could experience before, during, and after getting
job done?

iminate risks your customers fear?

g. financial, social, technical risks, or what could go awfully wrong, …)

elp your customers better sleep at night?

g. by helping with big issues, diminishing concerns, or eliminating worries, …)

mit or eradicate common mistakes customers make?

Gains

Describe the benefits your customer expects, desires or would be surprised by.
This includes functional utility, social gains, positive emotions, and cost savings.

(e.g. esthetics, feel good, security, …
How does your customer measure success and failu

What basic needs are you

(e.g. performance, cost, …)

What would increase the likelihood of adopting a solu

(e.g. lower cost, less investments, lower risk, better quality, performan
design, …)

What does your customer find too costly?

Buyer (e.g. trying to look good, g

(e.g. takes a lot of time, costs too much money, requires substantial efforts, …)

Co-creator (e.g. esthetics, feel

What makes your customer feel bad?

Transferrer (e.g. products and


of a product, transfer it to others

How are current solutions underperforming for
your customer?

Rank each job according
crucial or is it trivial?

(e.g. lack of features, performance, malfunctioning, …)

What are the main difficulties and challenges
your customer encounters?

Pains

(e.g. understanding how things work, difficulties getting things done,
resistance, …) Describe negative emotions, undesired costs and situations, and risks that your
customer experiences or could experience before, during, and after getting the
job done.
What negative social consequences does your

customer encounter or fear?

(e.g. loss of face, power, trust, or status, …)

What risks does your customer fear?
(e.g. financial, social, technical risks, or what could go awfully wrong, …)

What’s keeping your customer awake at night?
(e.g. big issues, concerns, worries, …)

What common mistakes does your customer make?
(e.g. usage mistakes, …)

et rid of barriers that are keeping your customer
om adopting solutions?

What barriers are keeping your customer from
adopting solutions?
(e.g. upfront investment costs, learning curve, resistance to change, …)

Outline in

(e.g. takes a lot of time, costs too much money, requires substantial efforts,


is done
cons


(e.g

your customer?

Rank each pain according to the intensity it

represents for encounters?
your customeryour customer.

Is it very intense or is it very light.?
For each pain indicate how often it occurs.

resistance, …)

customer encounter or fear?


(e.g. financial, social, technical risks, or what could go awfully wrong,



nk each pain your products and services kill according to their intensity
your customer. Is it very intense or very light?

each pain indicate how often it occurs. Risks your customer experiences or
uld experience before, during, and after getting the job done?

What emotional jobs are y


Besides trying to get a core job don
ent roles. Describe the jobs your cu

g. usage mistakes, …)

g. lower or no upfront investment costs, flatter learning curve, less
istance to change, …)


adopting solutions?

(e.g. upfront investment costs, learning curve, resistance to change, …


sed by.
avings.

t your
g the

(e.g. makes them look good, increase in power, status, …)

What are customers looking for?


Customer:
gains

Customer Job(s)

How does your customer measure success and failure?

(e.g. lower cost, less investments, lower risk, better quality, performance,
design, …)

they are trying to perform and complete, the problems they are trying to solve, or the
needs theyWhich satisfy.
are trying to savings would make your customer

happy?

(e.g. in terms are you money your customer
What functional jobs of time, helping and effort, …) get done?
(e.g. perform or complete a specific task, solve a specific problem, …)

What outcomes does your customer expect and what

What social jobsgo beyond his/her expectations?
would are you helping your customer get done?

(e.g. quality level, more of something, less of something, …)

How do current solutions delight your customer?


(e.g. needs are you helping your customer satisfy?
What basic specific features, performance, quality, …)

Rank each gain according to its relevance to
your customer.
Is it substantial or is it insignificant?
For each gain indicate how often it occurs.

What would make your customer’s job or life easier?
(e.g. get a core job done, curve, more services, lower in differBesides trying toflatter learning your customer performs ancillary jobs cost of ownership, …)

(e.g. takes a lot of time, costs too much money, requires substantial efforts, …)


your customer?

What positive social consequences does your
customer desire?


Co-creator (makes them look good, increase in power, status, …)
(e.g. e.g. esthetics, feel good, security, …)
Transferrer (e.g. products and services that help customers dispose

What are customers looking for?




What or is itcustomers dream about?
crucial do trivial? For each job indicate how often it occurs.

your customer encounters?

Gains

resistance, …)


Describe the benefits yourfear?
customer encounter or customer expects, desires or would be surprised by.
This includes functional utility, social gains, positive emotions, and cost savings.


Outline in which specific context a job
is done, because that may impose
How doesconstraints or limitations.
your customer measure success and failure?
(e.g. while driving, outside, …)


Rank each pain according to the intensity it
(e.g. lower cost, less investments, lower risk, better quality, performance,
represents for your customer.
design, …)
Is it very intense or is it very light.?
For each pain indicate how often it occurs.


Describe what a specific cu
they are trying to perform
needs they are trying to sa

What functional job


(e.g. perform or complete

adopting solutions?
(e.g. upfront investment costs, learning curve, resistance to change, …)

Custom


What social jobs a

(e.g. trying to look good, g

VPC:
Products
&
Services

Products & Services
Do they…

Create savings that make your customer happy?

List all the products and services your value proposition is built around.
Which products and services do you offer that help your customer get either a
functional, social, or emotional job done, or help him/her satisfy basic needs?
Which ancillary products and services help your customer perform the roles of:

Buyer
(e.g. products and services that help customers compare offers,
decide, buy, take delivery of a product or service, …)

Do something customer


(e.g. good design, guarantees, spe

Produce outcomes your customer expects or that go
beyond their expectations?

Fulfill something custom

(e.g. better quality level, more of something, less of something, …)

Copy or outperform current solutions that delight your
customer?
(e.g. regarding specific features, performance, quality, …)

Make your customer’s job or life easier?
(e.g. flatter learning curve, usability, accessibility, more services, lower
cost of ownership, …)

Create positive social consequences that your
customer desires?

Produce positive outcom
success and failure crite

(e.g. better performance, lower c

Help make adoption eas

(e.g. lower cost, less investments
performance, design, …)

Rank each gain your products and
customer. Is it substantial or insign

(e.g. makes them look good, produces an increase in power, status, …)

Co-creator
(e.g. products and services that help customers co-design
solutions, otherwise contribute value to the solution, …)

Products & Services

Transferrer

(e.g. help big achievements, prod

List all the products and services your value proposition is built around.

Gain Crea

Describe how your products and s
How do they create benefits your
by, including functional utility, soc

Which products and services do you offer that help your customer get either a

(e.g. products and services that help customers disposeor help him/her satisfy basic needs?
functional, social, or emotional job done, of
a product, transfer it to others, or resell, products and services help your customer perform the roles of:
Which ancillary …)
Buyer

Products and services may either (e.g. products anddelivery ofthat help customers compare offers, face-toby tangibleservices manufactured goods,
(e.g. a product or service, …)
decide, buy, take
face customer service), digital/virtual (e.g. downloads, online recommendations),
Co-creator
intangible (e.g. copyrights, quality(e.g. products and services that help customers co-design
assurance), or financial (e.g. investment funds,
solutions, otherwise contribute value to the solution, …)
financing services).
Transferrer
(e.g. products and services that help customers dispose of

a product, to their importance
Rank all products and services accordingtransfer it to others, or resell, …) to your customer.
Products and services
Are they crucial or trivial to your customer? may either by tangible (e.g. manufactured goods, face-to-

face customer service), digital/virtual (e.g. downloads, online recommendations),
intangible (e.g. copyrights, quality assurance), or financial (e.g. investment funds,
financing services).

Pain Relie

Rank all products and services according to their importance to your customer.
Are they crucial or trivial to your customer?

Describe how your products and s
eliminate or reduce negative emot
your customer experiences or cou

Do they…
Create savings that make your customer happy?

Do something customers are looking for?



Fulﬁll something customers are dreaming about?
Do they…
(e.g. help big achievements, produce big reliefs, …)
beyond their expectations?make your customer happy?
Create savings that
Do something customers are looking for?
(e.g. in more of money and effort, less
(e.g. better quality level, terms of time, something,…) of something, …)


Produce positive outcomes matching your customers
success and failure criteria?

beyond their expectations?

Fulﬁll something customers are dreaming about?

Copy or outperformquality level, more ofsolutions that…)delight your
current something, less of something,
(e.g. better
Produce positive outcomes matching your customers cost, …)
(e.g. better performance, lower
customer?
success and failure criteria?
(e.g. help big achievements, produce big reliefs, …)

Copy or outperform current solutions that delight your

customer?

(e.g. better performance, lower cost, …)

Help make adoption easier?


Help make adoption easier?

Make your customer’s life easier?
Make your customer’s job orjob or life easier?

(e.g. lower cost, less investments, lower risk, better quality,

(e.g. lower cost, less investments, lower risk, better quality,


Rank each gain your products and services create according to its relevance to your
customer. Is it substantial or insignificant? For each gain indicate how often it occurs.

Rank each gain your products and services create according to its relevance to your
customer. Is it substantial or insignificant? For each gain indicate how often it occurs.

customer desires?

customer desires?


es

around.

er get either a
basic needs?

rm the roles of:

rs,

d goods, face-tocommendations),
nvestment funds,

your customer.

Gain Creators

Gains

Describe how your products and services create customer gains.
How do they create benefits your customer expects, desires or would be surprised
by, including functional utility, social gains, positive emotions, and cost savings?

Describe the benefits your c
This includes functional utili

Gain Creators
Describe how your products and services create customer gains.
How do they create benefits your customer expects, desires or would be surprised

Pain Relievers
Describe how your products and services alleviate customer pains. How do they
(c) Gustaaf.Vocking@power2improve.nl and situations, and risks
eliminate or reduce negative emotions, undesired costs

Pains

Describe negative emotions
customer experiences or co


Pain Relievers
eliminate or reduce negative emotions, undesired costs and situations, and risks
your customer experiences or could experience before, during, and after getting
the job done?

Do they…
Produce savings?
(e.g. in terms of time, money, or efforts, …)

Pain Relievers

Eliminate risks your customers fear?

Describe negative emotions, undesired costs and situations, and risks
customer
eliminate or reduce negative emotions, undesired costs and situations, and risks
(e.g. financial, social, technical risks, or what done. experiences or could experience before, during, and after ge
could go awfully wrong, …)
job
your customer experiences or could experience before, during, and after getting
the job done?

Make your customers feel better?

Help your customers better sleep at night?

(e.g.
they… kills frustrations, annoyances, things that give them a headache, …)

oduce savings?

Fix underperforming solutions?

in terms of time, money, or efforts, …)

Eliminate risks your customers fear?

(e.g. by helping with big issues, diminishing concerns, or eliminating worries, …)

Limit or eradicate common mistakes customers make?


(e.g. new features, better
ake your customers feel better? performance, better quality, …)
Help your customers better sleep at night?
kills frustrations, annoyances, things that give them a headache, …)

Pains


(e.g. by helping with big issues, diminishing concerns, or eliminating worries, …)

Limit or your
Put an end to difficulties and challengeseradicate common mistakes customers make? of barriers that are keeping your customer
Get rid
customers encounter?
from adopting solutions?

x underperforming solutions?

new features, better performance, better quality, …)

t an end to difficulties and challenges your
(e.g. make things easier, helping them get done,Get rid of barriers that are…)
eliminate resistance, keeping your customer lower or no upfront investment costs, flatter learning curve, less
(e.g.
stomers encounter?
from adopting solutions?
make things easier, helping them get done, eliminate resistance, …)

resistance to change, …)

(e.g. lower or no upfront investment costs, flatter learning curve, less
resistance to change, …)

Wipe out negative social consequences your
Rank each pain your products and services kill according to their intensity each pain your products and services kill according to their intensity
Rank
customers encounter or fear?
for your customer. Is it very intense or very light?
loss of face, power, trust, or status, …)

pe out negative social consequences your
stomers encounter or fear?


for your customer. Is it very intense or very light?

For each pain indicate how often it occurs. Risks your customer experiences or
could experience before, during, and after getting the job done?

For each pain indicate how often it occurs. Risks your customer experiences or
could experience before, during, and after getting the job done?


Customer Segment

Value
Proposi7on
Canvas:
stripped
down
BMC


Truth
the
startup
search


What
is
a
Startup?

A temporary organization…!
Designed to SEARCH…!
For a REPEATABLE and
SCALABLE…!
Business Model!


Failing
forward
fast!!


Truth
about
customers
and
your
startup


Customers:
get,
keep
and
grow


Summary

Trainer/


Recommended
reading

Starting-Up boek2 NV

16-06-2004

11:51

Pagina 1

Starting up
Achieving success with professional business planning
Authors
Thomas Kubr
Heinz Marchesi
Daniel Ilar
Herman Kienhuis
McKinsey & Company, Inc. The Netherlands
Amstel 344, 1017 AS Amsterdam
© 1998 by McKinsey & Company, Inc. Switzerland
Design and realization:
Mifflin-Schmid, Zurich
idkit, Oudewater [www.idkit.nl]
Printed in The Netherlands
ISBN 90-9011748-2


Three
steps
to
your
dream
job

1.  Determine what you like doing so much
you would do (and will try out) for free.

2.  Become so good at it that people will
gladly reward you (or start over at 1.).

3.  Find Create the job.


Handout
and
ques7ons?

Gustaaf
Vocking

@GustaafVocking

Gustaaf@Power2Improve.nl


Entrepreneurship guest lecture TIlburg University handout

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