U First - Building a Compelling Value Proposition
•
0 j'aime•206 vues
Building a Compelling Value Proposition workshop presented at the U First accelerator on 07-09-2019
Recommandé
Contenu connexe
Tendances
Tendances (20)
Similaire à U First - Building a Compelling Value Proposition
Similaire à U First - Building a Compelling Value Proposition (20)
Dernier
Dernier (20)
U First - Building a Compelling Value Proposition
- 2. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Building a Compelling Value Proposition @underscorevc startupsecrets.com
- 3. Proprietary and Confidential Agenda Evaluate Build Gain Pain Value Prop Define startupsecrets.comBuilding a Compelling Value Proposition Ideas Problem Solution 6@underscorevc
- 4. Proprietary and Confidential For (target customers) Who are dissatisfied with (the current alternative) Our product is a (new product) That provides (key problem-solving capability) Unlike (the product alternative) Value Prop 7startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 5. Proprietary and Confidential Where might you start? Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution 9startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 6. Proprietary and Confidential Ideas… free floating? 10startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 7. Proprietary and Confidential Evaluate Build Gain Pain Value Prop Define, Qualify Agenda - Problem Ideas Problem Solution 11startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 8. Proprietary and Confidential Unworkable Unavoidable Urgent Underserved Problems worth solving are usually 4U … Problem 12startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 9. Proprietary and Confidential Broken business process Consequences ? If the consequences are costly or painful, so much the better. E.g. who gets fired if this doesn’t work? Unworkable 13startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 10. Proprietary and Confidential Accounting Regulation Is the problem so fundamental you can’t avoid it and just have to comply? Unavoidable 14startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 11. Proprietary and Confidential Relative to other needs … Priority • Determines resources allocated If you’re not at the top of the list, are you at least in the top 3? If not will you get moved up or down over time and why? Urgent 15startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 12. Proprietary and Confidential You will compete in a zero-sum game Finite: • $ • Time • People • Attention Underserved – business… 16startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 13. Proprietary and Confidential Examples… • Social – Find – Connect – Communicate – Meet – Share – Entertain – Date Needs… • Social • Security • Physical • Economic • Recognition • Responsibility • Achievement • Growth Underserved – consumers… 17startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 14. Proprietary and Confidential Is it “blac” & white? Blatant Latent Aspirational Critical Blatant Latent Aspirational Critical Blatant Critical Qualify the problem 18startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 15. Proprietary and Confidential What is the real problem? The Eight Levels of Problem Solving • https://hbr.org/2013/12/amazon-turned-a-flaw-into-gold-with-advanced-problem-solving Level 0 - Can’t see the problem Level 1 - See the problem and raise it Level 2 – See the problem and define it clearly (a problem well defined is a problem half-solved) Level 3 - See the problem, define it clearly, and identify the root cause Level 4 – Plan ahead to avoid the problem or derivative problems re-occurring (prevention is better than a cure) Level 5 – Find a practical and viable solution to the problem Level 6 – Find a breakthrough solution to the problem (for example, one that saves more than it costs, or opens the way to other breakthroughs) Level 7 - Take initiative to implement the solution or develop the breakthrough Level 8 – Look beyond problem prevention – create new opportunities from continuous improvement (Think 3M, or the Amazon example above.) 19
- 16. Proprietary and Confidential Is it 4 U? • Unworkable • Unavoidable • Urgent • Underserved Is it BLAC and white? Look for the real problem Problem - Summary 21startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 17. Proprietary and Confidential Ideas… can now be applied! 22startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 18. Proprietary and Confidential 4 U Blatant Critical Ideas – fit to problem... 23Building a Compelling Value Proposition @underscorevc
- 19. Proprietary and Confidential Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution Agenda - Solution 24startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 20. Proprietary and Confidential Solution 25Building a Compelling Value Proposition @underscorevc
- 21. Proprietary and Confidential • Faster • Cheaper • Better Startup Opportunity? 21startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 22. Proprietary and Confidential What is your compelling breakthrough? 3 D Break something! 27startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 23. Proprietary and Confidential Discontinuous innovation Defensible technology + Disruptive business model A breakthrough that COMPELS people to ACT ! 23 Breakthrough opportunities 3 D startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 24. Proprietary and Confidential It’s often as much work going after a small fight… Big problems often = big opportunities Startup Secret: Pick a BIG fight! 29startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 25. Proprietary and Confidential Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution Agenda - Evaluate 31startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 26. Proprietary and Confidential Before After Acute Pain Absolute Joy Qualitative evaluation 32startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 27. Proprietary and Confidential Before After Acute Pain Absolute Joy Vitamin vs. Morphine Qualitative evaluation 33startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 28. Proprietary and Confidential UTEST* EXAMPLE (*Later renamed APPLAUSE)
- 29. Proprietary and Confidential For companies with web or mobile apps Who are dissatisfied with apps that work as expected in the QA lab, but not in the hands of end users Our in-the-wild testing Enables them to test their apps under real-world conditions Unlike outsourced testing, which merely moves the QA lab to a cheaper part of the world, but doesn’t actually improve app quality uTestBefore & AfteruTest 32startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 30. Proprietary and Confidential Before: Test In The Lab & Hope Testing inside the lab is vital. But today’s web & mobile apps require a new approach to augment lab testing: in-the-wild testing After: Test Where Your Users Are Before & AfterBefore & After 33startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 31. Proprietary and Confidential Introducing the gain/pain ratio Quantitative Evaluation Gain Pain 34startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 32. Proprietary and Confidential The gain delivered to the customer vs. The pain and cost for the customer to adopt “Gain/Pain ratio" Gain Pain 35startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 33. Proprietary and Confidential • Revenue • Cost savings • Time • People • Competitive advantage • Reputation • Etc.. Gain Gain Pain 36startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 34. Proprietary and Confidential • Find (See) • Try • Buy • Implement • Deploy • Own – eg TCO Pain Gain Pain 37startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 35. Proprietary and Confidential • Switching costs? • Default = do nothing • Alternatives? • Good enough = good enough! • RISK on a startup Inertia, RISK Inertia Gain Pain 39startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 36. Proprietary and Confidential What’s the right ratio? Inertia, RISKGain Pain 40startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 37. Proprietary and Confidential > 10 to overcome • Inertia • RISK “Gain/Pain ratio” Inertia, RISK Gain Pain >10 41startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 38. Proprietary and Confidential Customer view = Gain/Pain • Revenue • Cost savings • Time • People • Competitive advantage • Reputation • Etc. • Inertia • Switching costs? • Default = do nothing • Alternatives? • Good enough = good enough! • RISK on a startup • Find (See) • Try • Buy • Implement • Deploy • Own – e.g.TCO Inertia, RISKGain Pain 45startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 39. Proprietary and Confidential “An order of magnitude” Customer view = Gain/Pain • Revenue • Cost savings • Time • People • Competitive advantage • Reputation • Etc. • Inertia • Switching costs? • Default = do nothing • Alternatives? • Good enough = good enough! • RISK on a startup • Find (See) • Try • Buy • Implement • Deploy • Own – e.g.TCO Inertia, RISK Gain Pain >10 46startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 40. Proprietary and Confidential Disruptive innovation Yet.. NON disruptive adoption Startup Secret… 50startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 41. Proprietary and Confidential Agenda - Build Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution 51startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 42. Proprietary and Confidential What problems do you understand uniquely well? What solution can you deliver uniquely well? What kind of disruptive business model can you bring? Build around – YOU… 52startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 43. Proprietary and Confidential For (target customers) Who are dissatisfied with (the current alternative) Our product is a (new product) That provides (key problem-solving capability) Unlike (the product alternative) Value Prop 53startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 44. Proprietary and Confidential 1. Define, • 4U Need (Unworkable, Unavoidable, Urgent, Underserved) • 3D Solution (Discontinuous, Defensible, Disruptive) • BLAC and white • Look for the real problem 2. Evaluate • Before and After • Gain/Pain >10 3. Build • Around YOU! Summary 54startupsecrets.comBuilding a Compelling Value Proposition @underscorevc
- 45. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Building a Compelling Value Proposition Thank you! @underscorevc #startupsecrets
- 46. Proprietary and Confidential Thank you! @underscorevc #startupsecrets
- 47. Proprietary and Confidential T 617.303.0064 @underscorevc 53 State Street, 10th Floor, Boston, MA 02109, USA