Lean Venture Series - Stage 2 Lesson 1 - BCLS & RCBC

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Transcript of Lean Venture Series - Stage 2 Lesson 1 - BCLS & RCBC

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Stage 2, Lesson 1: Making Sure People Want Your Idea

workshop agenda01 Review02 Learning Objectives03 Steve Blank on customer discovery04 Create your interview questions05 Practice interviews06 Key learnings and next steps

01review

review

02learning objectives

By the end of lesson 1 you will

Understand the Customer Discovery process Create key assumptions/hypotheses about your

business model Create interview questions for your customer

discovery Practice doing interviews with your peers Begin to uncover patterns in the responses to

your research

context – getting ready to “get out of the building” to test our assumptions /hypotheses

03 What is Customer Discovery? “systematic approach to ‘getting out of the building’

to test & validate your hypotheses – learning in order to discover a repeatable, scalable business model.”

Ideally: find out who might be early adopters or lead users (Mueller, Thoring)

GOAL: problem solution fit to product market fitWhat is customer discovery?

Customer discovery case study

SOURCE: http://steveblank.com/category/customer-development-manifesto/

Customer Discovery Process1. State your assumptions/hypotheses2. Test your assumption/hypotheses3. Test your product concept4. Evaluate; next steps

03 – continued…Identifying assumptions

• PRODUCT RISK: What are you solving? (problem)How might customers rank your problems in importance?

• MARKET RISK: Who is the competition? (existing alternatives)How do customers solve these problems today?

• CUSTOMER RISK: Who has the pain? (customer segments)

Is this a viable customer segment?

Maurya, Running Lean, p. 83, 84

Assumptions around risks:

• What problem are you solving? How might customers rank your problems in importance? • ie. Elderly residents need someone to walk their dog. It is

one of the most important needs they have• Who is the competition?

• ie. Who walks their dog now? What is the alternative to a dog walker?

• Who has the pain?• ie. Who has dogs that need walking?

These form the basis of your PROBLEM PRESENTATION Maurya, Running Lean, p. 83, 84

Assumptions

Narrowing Customer Segments

ActivityBrain dump 10 – 12 potential customers

Answer these questions for each

Circle the 4 segments with the most Y’s

• Falsifiable Hypothesis = [Specific Repeatable Action] will [Expected Measurable Return], but see page 84:• These are more qualitative evaluations of

assumptions.

Maurya, Running Lean, p. 83, 84

Assumptions

Activity – Your assumptions

http://www.slideshare.net/luxrco

04Customer discovery interview

Do’s and Don’t of Interviews

• What keeps you up at night about (insert problem)?

• How does it make you feel when x happens?

• What do you do about it currently?• How much do you pay for it?• What do you wish existed?• Anything else I should I have asked you?

Sample Interview Questions

Sample Interview Questions

• Can you tell me the story about that?• And then what happened?• Why [or how] did you do that?• What did you love [or hate] about that?• If you could wave a magic wand, what would it be like?• Tell me about an experience when ... • What are the best/worst parts about ... • Can you help me understand more about ...

Activity• Write down 5 questions that you would

use to get honest information about whether you should start this business…or about your existing business model.

Fishbowl Interview Practice

05summary and next steps

Assumptions Problem presentation Interviews Lesson 2

05 Summary & next steps

CLICK HERE

From library home page: bcls.lib.nj.us

THEN CLICK HERE

questions?

review material for next session

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