1. The Lean LaunchPad
Lecture 1: Business Models and
Customer Development
Steve Blank
Jon Feiber
Ann Miura-Ko
John Burke
Jerry Engel
Jim Hornthal
Oren Jacob

2. This Session
• The teaching team
• Course objective(s)
• Teaching team philosophy
• Our expectations of you

3. Teaching Team

4. Steve Blank,Jon Feiber, John Burke
• BS CS/Astro Physics U of • Yale BS EE
8 startups in Silicon Valley Colorado • McKinsey and Co.
• Semiconductors • VP Networking SUN • Charles River Ventures
• V.C. @ MDV since 1991 • Stanford Ph.D MS&E
• Supercomputers • TA: E145, Mayfield
• Consumer electronics •
Fellows, MS&E 273
V.C. @ Floodgate
• Video games
ann@floodgate.com
• Enterprise software @annimaniac
• Military intelligence
sblank@stanford.edu
@sgblank
www.steveblank.com

5. Steve Blank, Jon Feiber, John Burke
8 startups - 32 years in Silicon Valley
• Semiconductors
• Supercomputers
• Consumer electronics • BS CS/Astro Physics U of Colorado • Yale BS EE Co.
• McKinsey and
• Video games
• Enterprise software • 50 employee, VP Networking @ Sun • Charles River Ventures
th
• Military intelligence • Stanford Ph.D MS&E
• V.C. @ MDV since 1991 • V.C. @ Floodgate
Teach: Stanford, Berkeley, Columbia jdf@mdv.com ann@floodgate.com
Details at www.steveblank.com @annimaniac

6. Steve Blank, Jon Feiber, John Burke
8 startups - 32 years in Silicon Valley
• Semiconductors
• Supercomputers
• Consumer electronics • BS CS/Astro • BSMechEngineering U.C. Berkeley,
• Video games Physics U of
• Enterprise software Colorado • BA Economics U.C. Santa Cruz,
• Military intelligence • 50th employee, • MBA Harvard Business School
VP Networking
Teach: Stanford, Berkeley, Columbia
@ Su • Founder BMI Software
Details at www.steveblank.com • VC at ABS Ventures
• V.C. @ MDV
since 1991
• Co-founder True Ventures
• jdf@mdv.com jburke@trueventures.com
@andemca

7. Alexander Osterwalder, Tina Seelig
• Ph.D. in Management Information
Systems (MIS) University of Lausanne Ph.D. Neuroscience Stanford Med School
• Founder, Business Model Foundry • Mgmt consultant Booz, Allen, Hamilton
• Author Business Model Generation • Multimedia producer at Compaq
Computer
• Co-founder, The Constellation for AIDS • Founder multimedia
competence (NGO) companyBookBrowser.
• Exec Director Stanford Technology
Ventures Program (STVP), EpiCenter
• tseelig@stanford.edu
• @tseelig

8. Oren Jacob, Jim Hornthal
• CMEA Capital
• Triporati
• CEO, stealth startup
• EIR, August Capita
• lCTO, Pixar
• Director, Studio Tools, Pixar
• Technical Director, Finding Nemo

9. Oren Jacob, Jim Hornthal
•CTO Pixar
• CMEA Capital
• Chairman Triporati

10. Teaching Assistant
Bhavik Joshi
joshibhavik@gmail.com
http://about.me/bhavikjoshi
•Better Place (13th employee, first non-Israeli, non-Jewish, non ex-SAP, Asian employee)
• Berkeley/Columbia MBA class of 2008/09
• Co-founder: Berkeley Stanford Cleantech Conference Series (since 2007)
• 2000 – 2007 Enterprise Software
• 1998 – 2000 Tata Motors India
•TA’s role: Class/lecture questions, Grading and attendance

11. Alexander Osterwalder, Tina Seelig
8 startups - 32 years in Silicon Valley
• Semiconductors
• Supercomputers
• Consumer electronics • Ph.D. Neuroscience Stanford Med School
• Video games
• Enterprise software • Mgmt consultant Booz, Allen, Hamilton
• Military intelligence
• Multimedia producer at Compaq Computer
Teach: Stanford, Berkeley, Columbia • Founder multimedia companyBookBrowser.
Details at www.steveblank.com • Exec Director Stanford Technology Ventures
Program (STVP), EpiCenter
tseelig@stanford.edu
@tseelig

12. Course Assistant (CA’s)
Thomas Haymore Stephanie Glass
•B.A. in Political Science •MS MS&E 2010
• Stanford Law („06)
• J.D. Stanford Law („12)
thomas.haymore@gmail.com
•CA’s role: Class/lecture questions, Grading and attendance

13. Course Assistant (CA’s)
Thomas Haymore Stephanie Glass
B.A. in Political Science
• Stanford Law („06)
•MS MS&E 2012
• J.D. Stanford Law („12)
thomas.haymore@gmail.com srglass@stanford.edu
•CA’s role: Class/lecture questions, Grading and attendance

14. Mentors
• Mentors are people with real-world experience
• Mentors role is to:
– Help you “Get you out of the building”
– Share contacts
– Offer “Real-world” entrepreneurial advice
– Critical feedback
• You arrange your schedule for the mentors, not
the other way around

15. Course Objective: Idea to a Business
• What does it take to go from idea to a business?
– Business Model + Customer Development
– Hypotheses testing of the business model(s)
– Get “out of the building”

16. Course Objective: Simulate A Startup?
• Create the pressures, uncertainty, and challenges
of a real startup
– Our expectations are unreasonable, they require
extraordinary effort
– We expect failures, iterations and Pivots
– Class is a “lab” - books/lectures are tools, not answers
– Fail fast, learn quick, push you outside your comfort zone

17. Teaching team philosophy
• This class is taught using the “Startup Culture”
– We‟re tough, direct, fair - you need to be the same
– Startup culture has no hierarchy - in this class you are an
entrepreneur - not a PI, lab mgr or center director
– We‟re your biggest supporters – we want you to succeed
• Question us, challenge us, push us as hard as we
push you
• We don‟t pretend to be domain experts, we know
you are smarter than we are

18. Getting Out of The Building
• This class is not about our lectures
• The class is not about your attendance
• The class is about the work you do outside the
building
• It‟s the difference between a vision and a
hallucination

19. Our Expectations of You
• This is a full-contact, immersive class
– All of you will be full participants – here and remotely
– You will spend lots of time outside of your university
– You all will do all the work assigned (and it is a lot
more than you probably realize)
– No “dine and dash”
• If you think you are not learning, or you all
cannot commit the time, see your NSF program
manager

20. Team Deliverables
• Each Week
– Lessons Learned presentation 5 minutes
– Updated Lean LaunchLab blog
– Hours of “outside the building” learning
• December Presentation
– 20 minute Lessons Learned Summary

21. What Will you Learn?
• Opportunity evaluation
• Search for a Business Model
• Customer Discovery and Validation
• Operating and decision making in chaos with
insufficient data
• Ruthless pursuit of an objective by a team

22. The Course ‘By the Numbers’
• 4 Instructors, 1 TA, 15+ Mentors,
• 8 Lectures
• 8 10-minute presentations per class
• 1 Final 20 minute presentation
• 2 Textbooks
10-15 hours of work a week outside the classroom

23. This Class is Hard
• You can‟t pass by attending the lectures
• Your grade is determined by the work you do
outside the class
• There‟s a lot of it
• You are dependent on group success –
communication is critical
• You don‟t need to be friends you need to be
partners

24. Class Logistics

25. Course Reading
• Business Model Generation
• Four Steps to the Epiphany
• www.steveblank.com

26. Class Schedule
Eight (3 hour) Class Sessions:
• 1: Sept 1st - Introduction, Business Models, Customer Development
• 2: Sept 2nd – Value Proposition/Customer Segment
• 3: Sept 22nd – Channels
• 4: Sept 23rd - Demand Creation (Customer Relationships)
• 5: Oct 13th – Revenue Model
• 6: Oct 14th – Key Resources and Activities
• 7: Nov 11th - Cost Structure
• 8: Nov 12th – Fund Raising
9 & 10: Dec 1st / 2nd – Lessons Learned Presentations

27. Teams
• team size is 4 people
• You chose the roles (hint: no org chart)
• Present Weekly and for Final
– Weekly lessons learned
– Final is demo and summary
• Class is about discovery and fast iteration

28. Team Projects
• Any for-profit scalable startup
• If you are a domain expert, that’s your best bet
(but not required)
• If you pick a web project, you have to build it
(and there needs to be some novelty)

29. Team Deliverables - Presentation
• Each Week
– Lessons Learned presentation 10 minutes
– Updated business model canvas
– Update blog/wiki
– 10‟s of hours of “outside the building” progress
• Final Presentation
– 20 minute Lessons Learned Summary

30. Team Deliverables - Blog
• Each Week
– Business model canvas updates
– Interviews
– Photos/Videos
– A/B tests
– Strategy

31. Grading
Individual - 15% Team - 85%
• Participation in class 15% • 40% out-of-the-building
progress as measured by
blog write-ups each week.
• 20% weekly team “lesson
learned” summaries
• 25% team final report
Grade is on how much you learn

32. Grading
Individual - 15% Team - 80%
• Participation in class 15% • 40% out-of-the-building
progress as measured by
blog write-ups each week.
• 20% weekly team “lesson
learned” summaries
• 25% team final report
You’re graded on how much learn, not how much you sell

33. Office Hours
• With your team
• Before and after class
• Look at availability here
• Get on the calendar

34. Intellectual Property - Suggestions
• Make sure your project is OK with your company
– disclose to team what IP rights your company has to inventions
• You own what IP you brought to class with you
– No team member has claim to anything you brought
• Your team jointly owns any IP developed for the class
– If any of you decide to start a company based on the class, you
own only what was developed and completed in the class
– You have no claim for work done before or after the class quarter
– If a subset of the team decides to start a company they do NOT
“owe” anything to other team members for work done in and during
the class
– All team members are free to start the same company, without
permission of the others
• You are agreeing to this unless the team decides in writing
to do something different

35. Class Disclosure/NDA’s
• Successful startups are not about the original idea
– It‟s about learning, discovery and execution
– You will not be presenting your IP/technical details
• You get to see how previous teams solved problems by
looking at their slides, notes and blogs
Therefore:
• Your slides, notes and blogs will be public
• This is an open class. No non-disclosures

36. What’s A Company?

37. What’s A Company?
A business organization which sells a
product or service in exchange for revenue
and profit

38. How Are Companies Organized?

39. How Are Companies Organized?
Companies are organized around
Business Models

40. What’s a Business Model?

41. What’s a Business Model?
A business model describes all the parts
of the company necessary to make money

42. What About My Technology?

43. What About My Technology?
Your technology is one of the many
critical pieces necessary to build a
company.
It is part of the “Value Proposition”

44. What About My Technology?
Customers don’t care about your technology
They are trying to solve a problem

45. What’s A Startup?

46. What’s A Startup?
A startup is a temporary organization
designed to search for a repeatable
and scalable business model

47. How to Build A Startup
Idea
Business Model
Size Opportunity
Customer Development

48. How to Build A Startup
Business Size of the Customer Customer
Idea Model(s) Opportunity Discovery Validation

49. How to Build A Startup
Size of the
Business Size of the
Business Customer Customer
Idea Opportunity
Model(s) Opportunity
Model(s) Discovery Validation
Theory Practice

50. How to Build A Startup
Size of the
Business Size of the
Business Customer Customer
Idea Opportunity
Model(s) Opportunity
Model(s) Discovery Validation
• Web startups get the product
in front of customers earlier

51. How to Build A Startup
Size of the
Business Size of the
Business Customer Customer
Idea Opportunity
Model(s) Opportunity
Model(s) Discovery Validation

52. buzz
group

54. A business model describes all
the parts of the company
necessary to make money

55. what are those parts? what
parts is a business model
composed of?

56. 56

57. ? ?

61. Business
Model Canvas

62. to describe, challenge,
design, and invent
business models more
systematically

63. building
blocks

64. CUSTOMER SEGMENTS
images by JAM

65. VALUE PROPOSITIONS
images by JAM

66. CHANNELS
images by JAM

67. CUSTOMER RELATIONSHIPS
images by JAM

68. REVENUE STREAMS
images by JAM

69. KEY RESOURCES
images by JAM

70. KEY ACTIVITIES
images by JAM

71. KEY PARTNERS
images by JAM

72. COST STRUCTURE
images by JAM

73. key value proposition customer
activities relationships
key customer
partners segments
cost revenue
structure key streams
resources channels
images by JAM

74. key value proposition customer
activities relationships
key customer
partners segments
cost revenue
structure key streams
resources channels
images by JAM

75. images by JAM

76. CANVAS OVERLAY
KEY KEY OFFER CUSTOMER CUSTOMER
PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS
KEY CHANNELS
RESOURCES
COST STRUCTURE REVENUE STREAMS
images by JAM

77. CANVAS OVERLAY
KEY KEY OFFER CUSTOMER CUSTOMER
PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS
KEY CHANNELS
RESOURCES
COST STRUCTURE REVENUE STREAMS
images by JAM

78. Business Model Canvas
building
block building
block building
block
building
building block
block building
block
building
block building
block
building building
block block
building building building building
block block block block

79. illustration
79

81. why should some of the
smartest scientists in the world
waste their time thinking about
a business model for coffee?

82. not just because most scientists
drink a lot of coffee. we can learn
a lot from innovative business
models across industries

83. how much did the cost of
home coffee consumption
change for Swiss households
over the last couple of years?

84. 600%
to
800%
more

86. Nespresso
changed the
business
(model) for
espresso

87. RESULTS

88. one of the fastest-
growing businesses in
the Nestlé group

89. average growth of
30% p.a. since 2000

90. over 3 billion CHF annual
revenue with 1 product line
(3.2 bio USD)

91. buzz group
91

92. Discuss and describe how you
would design a business model
around Nespresso‟s invention

94. ? ?
?
? ?
? ?
94

95. Nespresso
club
production
Nespresso
machines
Nespresso
pods
distribution
Nespresso
channels
.com
production
coffee
facilites
1x
B2C machine
distribution sales
95

96. but Nespresso almost failed in
1987 due to a nonperforming
business model

97. Nespresso
system
joint venture
with
manufacturer
97

99. what is the most powerful about
using a shared language, such as
the Business Model Canvas?

103. buzz group

105. ? ?
?
? ?
? ?
105

106. possible
alternatives

107. radiation-free
detection of hospitals
breast cancer
107

108. medicaldevicem
proprietary IP
anufacturers
108

109. ? ?
?
? ?
? ?
109

111. But,
Realize They’re Hypotheses

112. 9 Guesses
Guess
Guess Guess
Guess
Guess
Guess Guess
Guess Guess

113. How Does This Really Work?
Stanford Lean LaunchPad Class
8 Weeks From an Idea to a Business

116. I.I.T.Y.I.W.H.T.K.Y

130. Key Opinion
Leaders (KOLs)

131. Key Opinion
Leaders
(KOLs)

132. Key Opinion
Leaders (KOLs)

133. Key Opinion
Leaders (KOLs)

134. Key Opinion
Leaders (KOLs)

135. Key Opinion
Leaders (KOLs)

136. •
•
•
•
•
•

180. Customer Development
The founders
^
Get Out of the Building and Search for
the Business Model

181. The Customer Development Process
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot

182. The Minimum Viable Product (MVP)
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
•Smallest feature set that gets you the most …
- orders, learning, feedback, failure…

183. A Pivot is the change of one or
more Business Model Canvas
Components

184. The Pivot
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
•The heart of Customer Development
•Iteration without crisis
•Fast, agile and opportunistic

185. Pivot Cycle Time Matters
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
•Speed of cycle minimizes cash needs
•Minimum feature set speeds up cycle time
• Near instantaneous customer feedback drives feature set

186. 186
Source: http://giffconstable.com/

187. The Customer Development Process
Customer Discovery
Customer Customer Customer Company
Discovery Validation Creation Building
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed

188. The Customer Development Process
Customer Validation
Customer Customer Customer Company
Discovery Validation Creation Building
Get Ready Sell, Sell, Pivot or
Positioning
to Sell Sell Proceed

189. Blog Your Progress

190. How?
• Customer Development
– The Process
• Narrative
– Interviews
– Surveys
– Videos
– Prototypes
• Business Model Canvas
– Scorekeeping
• Real-time Feedback
• Physical Reality Checks
– Skype
– Face-to-face

191. We Made Students
Blog Their Progress
It Changed Everything

192. Interview

193. Photos Videos

194. Surveys

195. Interview
& Photos

196. Competitive
Analysis

197. Key Findings

198. A/B Test
Results

199. Key Question

200. Strategy

201. Business Model Canvas
as the Scorecard

202. Market Type
Four Types of Markets

203. Type of Market
Changes Everything
Clone Market Existing Market Resegmented New Market
Market
• Market • Sales • Customers
– Market Size – Sales Model • Needs
– Cost of Entry – Margins • Adoption
– Launch Type – Sales Cycle
– Competitive – Chasm Width
Barriers •Finance
• Ongoing Capital
– Positioning
• Time to Profitability

204. Definitions: Four Types of Markets
Clone Market Existing Market Resegmented New Market
Market
• Clone Market
– Copy of a U.S. business model
• Existing Market
– Faster/Better = High end
• Resegmented Market
– Niche = marketing/branding driven
– Cheaper = low end
• New Market
– Cheaper/good enough, creates a new class of product/customer
– Innovative/never existed before

205. Size of Opportunity

206. Market/Opportunity Analysis
How Big is It?: Market/Opportunity Analysis
– Identify a Customer and Market Need
– Size the Market
– Competitors
– Growth Potential

207. How Big is the Pie?
Total Available Market
• How many people would want/need
the product?
• How large is the market be
(in $‟s) if they all bought?
Total Available Market • How many units would that be?
How Do I Find Out?
• Industry Analysts – Gartner, Forrester
• Wall Street Analysts – Goldman, Morgan

208. How Big is My Slice?
Served Available Market
• How many people need/can use product?
• How many people have the money to
buy the product
Total • How large would the market be (in $‟s)
Available Served if they all bought?
Market
Available • How many units would that be?
Market
How Do I Find Out?
• Talk to potential customers

209. How Much Can I Eat?
Target Market
• Who am I going to sell to in year 1, 2 & 3?
• How many customers is that?
• How large is the market be
(in $‟s) if they all bought?
Total Served
• How many units would that be?
Available Available
Market Market
Target
Market How Do I Find Out?
• Talk to potential customers
• Identify and talk to channel partners
• Identify and talk to competitors

210. Market Size: Summary
• Market Size Questions:
– How big can this market be?
– How much of it can we get?
– Market growth rate
– Market structure (Mature or in flux?)
• Most important: Talk to Customers and Sales Channel
• Next important: Market size by competitive approximation
– Wall Street analyst reports are great
• And : Market research firms Like Forester, Gartner

211. Team Deliverable by Tomorrow
1. Hypotheses for each part of business model
2. Test for each of the hypotheses
What constitutes a pass/fail signal for the test (e.g. at
what point would you say your hypotheses
wasn‟t even close to correct?
3. Plan to get out of the building to test the hypotheses
• Summarized in a 5 Minute PowerPoint Presentation
– Business Model Canvas
– Market Size
– Getting out of the building plan
Don’t Over Think Your
Hypotheses

212. Sweet Sensors
Glucose Monitor: We have developed a
novel technology to use
• Widely available any glucose monitor
• Cheap without modifications to
• Quantitative detect a wide range of
information non-glucose targets at
• $10 billion market very low concentrations
(such as diseases
However, it can detect (e.g., TB), heavy metal
only one target: ions
glucose (e.g., Pb, Hg), organic
and at very high toxins, bacteria, viruses
concentrations and cancers)
Yu Xiang and Yi Lu, Nature Chem. 3, 697-703 (2011).

213. Examples

214. Market size
Total available
market = $1.2 billion - 300 million patients worldwide
- Required HbA1C testing every
60-90 days
Serviceable Available
Market = $600 million - Available in-home HbA1C tests today
are $100/10 tests
Target market - Assuming $1 per test, TAM = $1.2 billion
= $120 million
- Assuming 50% people have the access
to a HbA1c test, SAM = $600 million
- Assuming we can capture 20% of SAM
(high-end diabetics and early adopters),
Target market = $120 million

215. Market Size
• Growing market
– Aging population
– Living Style & Diets
Total Available market – Chronic disease
170M (US & EU5)
$25B • Driving factors
– Healthcare costs
– Reimbursement
– Healthcare labor shortage
Target market
3.5M (Resistant Hypertension)
$500M

216. Business Model Canvas
Yi Lu, Tian Lan
Sweet Sensors Neil Kane
Chris Sorensen
Conferences
Product R&D Diabetics
At home Product supports
Glucose monitor QC Clinicians (in rural area)
Convenient Patient
manufacturers
Marketing network/community Triage nurses
Less exposure to
Kit manufacturers infectious diseases Pre-diabetics
in the hospital
Reagent suppliers
Cheaper
More frequent Retailers (Walgreen)
IP
Personnel Better indicator of Online vendors (Amazon)
health (diabetic
management) Direct sales
Reagents
Manufacture
Disposable test kit (used repeatedly
Licensing on a regular basis)
FDA certification?

217. Action Plan
Yi Lu, Tian Lan
Sweet Sensors Neil Kane
Chris Sorensen
Conferences
Product R&D Diabetics
At home Product supports
Glucose monitor QC Clinicians (in rural area)
Convenient Patient
manufacturers
Marketing network/community Triage nurses
Less exposure to
Kit manufacturers infectious diseases Pre-diabetics
in the hospital
Reagent suppliers
Cheaper
More frequent Retailers (Walgreen)
IP
Personnel Better indicator of Online vendors (Amazon)
health (diabetic
management) Direct sales
Reagents
Manufacture
Disposable test kit (used repeatedly
Licensing on a regular basis)
FDA certification?

218. The Business Model Canvas
Technical Assistance
cGMP manufacturer SOPs for precursors
(Image Atlas) Radiopharmacies
Radiopharmacies and drugs Accessibility (RCY) FDA regulatory support
Nuclear Medicine and Recruit clinical sites Purity Equipment producers
Radiology In vivo animal studies Speed
departments Develop regulatory PET/SPECT Prescribing physicians
plan for pre IND Multiplatform
meeting Technical assistance
Sensitivity (nca) Radiologist who
ID cGMP CRO Specific compounds
Pharmaceutical perform studies
Fund-raising
development
companies
General
IP methodology for
PoP data Direct sales of Drug developers
adding fluorine to
precursor
lead compounds of
IP interest
PoP data R&D and clinical
studies presented in Radiologists
Regulatory plan
Understanding of journals and meetings
the regulatory
process
Sales of intermediates
Contract cGMP precursor manufacture
Salary, Rents
Technology license
Clinical trials
Product license (royalty)

219. The Business Model Canvas
Technical Assistance
cGMP manufacturer SOPs for precursors
(Image Atlas) Radiopharmacies
Radiopharmacies and drugs
Accessibility (RCY) FDA regulatory support
Nuclear Medicine and Recruit clinical sites
Purity Equipment producers
Radiology In vivo animal studies
Develop regulatory Speed
departments PET/SPECT Prescribing physicians
plan for pre IND
meeting Multiplatform Technical assistance
Sensitivity (nca) Radiologist who
ID cGMP CRO
Pharmaceutical Specific compounds perform studies
Fund-raising
development
companies
General Direct sales of
IP methodology for precursor
PoP data adding fluorine to Drug developers
lead compounds of R&D and clinical
IP interest studies presented in
PoP data journals and meetings Radiologists
Regulatory plan
Understanding of Sales of precursor
the regulatory through global finished
process pharmaceutical
distributor
Sales of intermediates
Contract cGMP precursor manufacture
Salary, Rents
Technology license
Clinical trials
Product license (royalty)

220. Critical Success Factors
• Validation of the need
– By talking to diabetic patients, clinician and nurses
• Validation of the customer segmentation
– By talking to glucose monitor and kit manufactures
• Evidence of market accessibility
– By talking to glucose monitor and kit distributors

221. Backup

222. Customer Discovery
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed

223. Customer Discovery - Physical
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
• TAM/SAM
•Product MVP
• Customers
•Channel
•Market Type
• Customer Relationships: Get/Keep/Grow
• Key Resources
• Partners
• Pricing

224. Customer Discovery - Web
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
• TAM/SAM
•Low Fidelity MVP
• Customers/Source
• Channel
•Market Type
• Customer Relationships: Acquire/Activate
•Traffic Partners
• Pricing

225. Customer Discovery - Physical
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
•TAM/SAM
• Low Fidelity MVP
•Customer Contacts
• Customers •Problem Understanding
• Channel
•Market Type • Customer Understanding
•Cust Relationships
• Traffic Partners
•Market Knowledge
• Pricing

226. Customer Discovery - Web
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
•TAM/SAM
• Low Fidelity MVP
•Customer Engagement
• Customers •Test Low Fidelity MVP
• Channel
•Market Type • Customer Understanding
•Cust Relationships
• Traffic Partners
•Traffic & Competitive Analysis
• Pricing

227. Customer Discovery - Physical
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
• TAM/SAM
• Low Fidelity MVP
•Update Bus Model
• Customers •Create Prototype/Prod Presentation
• Channel
•Market Type •Test Solution with Customer
•Cust Relationships
• Traffic Partners
• Update Business Model
• Pricing • 1st Advisory Board Members

228. Customer Discovery - Web
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
• TAM/SAM • Customer Engagement
• Low Fidelity MVP • Test Low Fidelity MVP
• Update Bus Model
• Customers • Customer Understanding •Test High Fidelity MVP
• Channel • Traffic & Competitive Analysis
•Market Type • Measure Customer Behavior
•Cust Relationships
• Traffic Partners
• Update Business Model
• Pricing • 1st Advisory Board Members

229. Customer Discovery – Web/Physical
Bus Model Extract Test Test Pivot or
Canvas Hypotheses Problem Solution Proceed
• TAM/SAM • Customer Engagement
• Low Fidelity MVP • Test Low Fidelity MVP
Verify the:
• Customers • Customer Understanding •Value Prop
• Channel • Traffic & Competitive Analysis
•Market Type •Cust Segment
•Cust Relationships
• Traffic Partners
•Cust Relationships
• Pricing • Channel
• Revenue Model
• Pivot or Proceed

230. Customer Validation - Web
Get Ready Sell, Sell, Pivot or
Positioning
to Sell Sell Proceed
Pivot

231. Customer Validation - Physical
Get Ready Sell, Sell, S Pivot or
Positioning
to Sell ell Proceed
•Craft Positioning
•Develop Sales Materials
•Hire “Sales Closer”
•Sales Channel Action Plan
• Refine the Sales Roadmap
• Formalize advisory board

232. Customer Validation - Web
Get Ready Sell, Sell, Pivot or
Positioning
to Sell Sell Proceed
•Craft Positioning
•Acquire/Activate Plans and Tools
• Build High Fidelity MVP
• Build Metrics Toolset
• Hire data analytics chief
• Formalize advisory board

233. Customer Validation - Physical
Get Ready Sell, Sell, Pivot or
Positioning
to Sell Sell Proceed
•Craft Positioning
•Acquire/Activate Plans
• Build High Fidelity MVP •Find Earlyvangelists
• Build Metrics Toolset
• Hire data analytics chief
• Test Sell – Out of the Building
• Formalize advisory board • Refine Sales Roadmap
• Test Sell Channel Partners

234. Customer Validation - Web
Get Ready Sell, Sell, S Pivot or
Positioning
to Sell ell Proceed
•Craft Positioning
•Acquire/Activate Plans •Prepare Optimization Plans & Tools
• Build High Fidelity MVP
• Build Metrics Toolset
• Out of the building Activation Test
• Hire data analytics chief • Measure and Optimize Results
• Formalize advisory board
• Test Sell Traffic Partners

235. Customer Validation - Physical/Web
Get Ready Sell, Sell, Pivot or
Positioning
to Sell Sell Proceed
•Craft Positioning
• Acquire/Activate Plans • Prepare Optimization Plans • Company Positioning
• Build High Fidelity MVP • Out of the building Activation Test
• Measure and Optimize Results
• Product Positioning
• Build Metrics Toolset
• Hire data analytics chief • Test Sell Traffic Partners • Validate Positioning
• Formalize advisory board

236. Customer Validation - Physical/Web
Get Ready Sell, Sell, S Pivot or
Positioning
to Sell ell Proceed
•Craft Positioning
• Acquire/Activate Plans • Prepare Optimization Plans • Assemble Data
• Build High Fidelity MVP • Out of the building Activation Test • Validate Business Model
• Build Metrics Toolset • Measure and Optimize Results
• Hire data analytics chief • Test Sell Traffic Partners • Validate Financial Model
• Formalize advisory board
• Pivot or Proceed