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Building a Compelling Value Proposition - Competitive Advantage for Startups

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Developed for the Harvard Innovation Lab workshop series on Startup Secrets.

This is part 1 of the 5 part series by Michael J Skok on how to get competitive advantage as a startup.

Michael's slides are the agenda for the workshop, and are NOT self contained. For fuller coverage of the slides, visit Michael's website http://www.mjskok.com/

Publié dans : Technologie, Business

Building a Compelling Value Proposition - Competitive Advantage for Startups

  1. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 1 STARTUP SECRETS MICHAEL J SKOK An insider‟s guide to unfair competitive advantage Hi Harvard innovation lab Building a Compelling Value Proposition twitter: @mjskok mjskok.com North Bridge Venture Partners
  2. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 3 Agenda Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  3. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 4 Value Proposition Template • 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)
  4. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 5 Apperian (simplified) • For Mobile Enterprises • Who are unable to deliver Apps to users bringing their own devices to work • Our Enterprise App Services Environment (EASE) • Provides for users to securely access Apps and Information • Unlike (MDM), our patented Cloud based (MAM) solution is instantly turned on and scales to tens of thousands of users
  5. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 6 Where might you start? Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  6. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 7 Ideas … free floating?
  7. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 8 Agenda - Problem Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  8. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 9 Problem • Unworkable • Unavoidable • Urgent • Underserved Problems worth solving are usually 4U …
  9. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 10 Unworkable • Broken business process • Consequences ? If the consequences are costly or painful, so much the better. EG who gets fired if this doesn’t work?
  10. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 11 Unavoidable • Accounting • Regulation Is the problem so fundamental you can’t avoid it and just have to comply?
  11. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 12 Urgent • 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?
  12. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 13 Underserved – business… • You will compete in a zero-sum game • Finite: – $ – Time – People – Attention
  13. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 14 Underserved – consumers… • Examples… • Social – Find – Connect – Communicate – Meet – Share – Entertain – Date • Needs… • Social • Security • Physical • Economic • Recognition • Responsibility • Achievement • Growth
  14. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 15 Qualify the problem Is it “blac” & white? • Blatant • Latent • Aspirational • Critical Blatant Latent Aspirational Critical Blatant Critical
  15. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 16 & white… • Is it addressing a “white space” in the market? – an open area of opportunity – which you can capture – and defend – uniquely
  16. 897MM monthly audience (uniques) 353MM monthly active users (participating) 5.8 Billion monthly page views 1.8MM web properties in network 75% marketshare for commenting platforms #1 distributed social application (comScore, Quantcast) BUSINESS POLITICS NEWS MUCH MOREENTERTAINMENT SPORTSTECH DISQUS is the most ubiquitous discussion platform on the web.
  17. 1 2 3 HOW DISQUS WORKS Easy install for all platforms Sites are part of the Disqus network Sites integrate Disqus Users engage with Disqus Users discover new content & sites across Disqus Sites see tangible benefits, including increased traffic on their pages Audience development made easy. Millions of users use Disqus to participate online and we make that valuable for publishers in a way that they can measure.
  18. THE DISQUS ECOSYSTEM A COMMUNITY ECOSYSTEM is the foundation of our business. USERS GOALS Discovery Community ADVERTISERS GOALS Acquisition Retention PUBLISHERS GOALS Engagement Growth Revenue
  19. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 20 DISQUS – Value prop for publishers FOR · Publishers, like online media or bloggers WHO CARE ABOUT · Building more engaged, loyal audiences directly on their sites OUR PRODUCT IS · The most widely used discussion platform online THAT PROVIDES · An “engagement management platform” for publishers, and · direct reach into millions of engaged community participants online UNLIKE · Social networks, which don‟t properly serve the needs of publishers · Or white-label software, which doesn‟t provide the wide network reach of users
  20. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 21 Problem - Summary • Is it 4 U? – Unworkable – Unavoidable – Urgent – Underserved • Is it blac and white?
  21. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 22 Ideas… can now be applied!
  22. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 23 Ideas – fit to problem… 4 U Blatant Critical
  23. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 24 Agenda - Solution Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  24. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 25 Solution
  25. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 26 Startup opportunity? • Faster • Cheaper • Better
  26. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 27 What is your compelling breakthrough? Break something! 3 D
  27. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 28 Breakthrough opportunities… • Discontinuous innovation • Defensible technology • Disruptive business model 3 D‟s
  28. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 29 Startup Secret: Pick a BIG fight! • It‟s often as much work going after a small fight… • Big problems often = Big opportunities At North Bridge we look for “Game Changers”
  29. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 30 Agenda - Evaluate Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  30. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 31 Qualitative evaluation Before After Acute Pain  Absolute Joy 
  31. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 32 Qualitative evaluation Before After Acute Pain  Absolute Joy  Vitamin vs. Penicillin
  32. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 33 DISQUS – Value Prop for Publishers BEFORE AFTER NEED SOLUTION · Generic or white-label community software · Or using social networking integrations · A way for publishers to own their users · Control, privacy, and monetization ability · Community platform that is connected in a network · Publisher-centric platform that allows for max control · Easy to use Disqus integration · Community platform plus revenue potential
  33. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 34 uTest • 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 34
  34. | Before & After 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
  35. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 36 Quantitative Evaluation • Introducing the gain/pain ratio Gain Pain
  36. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 37 “Gain/Pain ratio” • The gain delivered to the customer vs. • The pain and cost for the customer to adopt Gain Pain
  37. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 38 Gain Gain Pain • Revenue • Cost savings • Time • People • Competitive advantage • Reputation • Etc..
  38. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 39 Pain Gain Pain • Find (See) • Try • Buy • Implement • Deploy • Own – eg TCO
  39. | • Gain from uTest: – Scale infinitely and immediately - From 3 testers, to 30, to 300, and back to 0 – Lower total cost of testing - EG: SMBs - unlimited testing for ½ the cost of one FTE – Test under real-world conditions - Live testers, real devices, imperfect conditions… in-the-wild • Pain from uTest: – More testing reports, creating more work - Takes time to re-produce, vet and rate 50+ bugs – More collaboration, creating more oversight - Coordination between in-house & crowd testers • Goal: – Maximize in-the-wild testing, while minimizing overhead uTest: Gain vs. Pain 40
  40. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 41 Inertia Gain Pain • Switching costs? • Default = do nothing • Alternatives? • Good enough = good enough! • RISK on a startup Inertia, RISK
  41. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 42 What‟s the right ratio? Gain Pain Inertia, RISK
  42. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 43 “Gain/Pain ratio” • > 10 to overcome – Inertia – RISK Inertia, RISK Gain Pain >10
  43. | 44 • Tough to quantify precisely, but here’s what we’ve learned Gain vs. Pain Ratio Gain Pain Cost Savings: 10X Lower Escape Rate by 75% Make Testing Mirror User Base Launch Confidence Higher Quality Apps vs. Increased Overhead 5:1 on cost basis 20:1 on cost + value basis
  44. | 45 • Test latest version of Google Chrome across 300 highest trafficked URLs on the web Traditional Outsourcing vs. uTest Testers 8 Testers 30 Hours / Tester 40 Hours / Tester 10 # of Days 5 # of Days 2 # of URLs Tested 300 # of URLs Tested 300 # of Discovered Issues 19 # of Discovered Issues 129 Price $15,000 Price $10,000 Price-per-Issue $789 Price-per-Issue $78 Sample Customer ROI
  45. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 46 Gain/Pain ratio • 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 – eg TCO Inertia, RISK Gain Pain >10
  46. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 47 Example - Apperian  Increase revenue by 40% at counters  Roll out 17,000 iPads  Deliver worldwide no IT touch required  Saved $2.5M+ in direct IT costs
  47. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 48 Startup Secret… • Disruptive innovation Yet.. • NON disruptive adoption
  48. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 49 Akiban - Value Prop • For Software-as-a-Service (SaaS) providers • Who are dissatisfied with their DB performance and its inability to manage new and complex data • Our product is a unique database leveraging a patented „SQL‟ and „NoSQL‟ architecture • That provides 10-100X performance, compelling new search features and real-time actionable insights. • Unlike NoSQL solutions that require a re-write,
  49. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 50 Akiban – Gain Pain • 10x -> 100x performance improvement • NO change to applications • NO risk deployment (replicated data) • Customers Gain/Pain ratio = 10 to 100 – Case study: • Doubling revenue with Akiban • Unworkable alternatives – rewrite and lose revenue, with unsure outcome
  50. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 51 Agenda – Build Evaluate Build Gain Pain Value Prop Define Ideas Problem Solution
  51. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 52 Value Prop • 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)
  52. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 53 Diagnostics For All (DFA) • For those in the developing world • Who are dissatisfied with limited access to diagnosis • Our product is a patterned paper-based diagnostic technology • That provides low-cost, easy-to-use, point-of- care diagnostics • Unlike no diagnosis
  53. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 54 DFA Before Need After Solution 53% of Rwandan women cannot afford healthcare 26% of Rwandan women live too far from a hospital [1] National Institute of Statistics of Rwanda (NISR) [Rwanda], Ministry of Health (MOH) [Rwanda] http://www.measuredhs.com/publications/publication-fr259-dhs-final-reports.cfm Point-of-care Minimal training required Cost = 1¢ Diagnosis by telemedicine Image: http://www.trust.org/alertnet/news/alertnets-top-20-big-ideas-that-dont- cost-the-earth/
  54. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 55 DFA Gain / Pain • NO current solution => huge • NO infrastructure required • NO training required • NO time required • Customers Gain/Pain ratio = ∞
  55. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 56 DFA Example At-risk pregnancy Liver function • 8 million affected globally • conducting ~700 person trial in Vietnam • test for ALT/AST enzymes • cost: $14 v. 1¢ (DFA) Child nutrition Small farmer support Customer ‘pain’ is real pain
  56. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 57 Build around - YOU... • What problems do you understand uniquely well? • What solution can you deliver uniquely well? • What kind of disruptive business model can you bring?
  57. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 58 Summary 1. Define, – 4U Need (Unworkable, Unavoidable, Urgent, Underserved) – 3D Solution (Discontinuous, Defensible, Disruptive) 2. Evaluate – Gain/Pain >10 3. Build – Around YOU!
  58. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 59 Thank you… • Apperian • Akiban • Disqus • DFA • uTest Follow online www.mjskok.com @mjskok /mjskok linkedin.com/in/mjskok bit.ly/mjskok-google bit.ly/mjskok-youtube
  59. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 60 End Note Most of the value of this presentation is in the talk track on www.mjskok.com in the resource http://www.mjskok.com/resource/building- compelling-value-proposition Comments and questions are welcome on the site. 60
  60. Harvard innovation lab : Michael J Skok : Startup Secrets : Value PropositionHi @mjskok 61 START UP SECRETS MICHAEL J SKOK An insider‟s guide to unfair competitive advantage Hi Harvard innovation lab Building a Compelling Value Proposition mjskok.com twitter: @mjskok North Bridge Venture Partners

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