Post on 26-Feb-2016
description
WHAT DOES THIS “REALLY” LOOK LIKE?Lean Launch Pad – fast forward 6 weeks
1
But,Realize They’re Hypotheses
9 Guesses
Guess Guess
GuessGuess
GuessGuess
Guess
GuessGuess
MammOpticsBusiness Model Canvas 1 of 4
Radiation-freeEarlier detectionNon-invasive
Pioneering radiologists inhospitals
Direct sales to hospitals
Strong clinical dataTrainingMaintenance
Product DevelopmentClinical trialsOperating Costs Capital equipment
sales and disposable item
Product DevelopmentIPClinical trialsFDA
IP Leading doctorsTechnical Expertise
HospitalsLeading doctors3rd party manufacturersDistributors
Initial g
uess
Initial g
uess
Initial g
uess
Initial g
uess
MammOpticsBusiness Model Canvas 1 of 4
Test:Customer segment
Value proposition
Finding the right customerFrom radiologists to gynecologists
How do you test these hypotheses?• Research• What type?• Role of secondary…..
• Role of primary……qualitative– Observation– Interviews and focus groups
• Hypothesis• Test• Interpret• Repeat
MammOpticsExcursions into hospitals
Leading doctors
Patients
Hospital Managers
Technicians
Debra Ikeda Jason Davies
Jafi Alissa LipsonSunita Pal
6 women >40 8 women <40
Alicia X-ray mammography
Paul BillingsHolly V. Gautier
MammOpticsHospital purchasing decision tree
MammOpticsHospital purchasing decision tree
HospitalsComplex purchasing decision
tree. Several saboteours
MammOpticsPrivate practice purchasing decision tree
MammOpticsPrivate practice purchasing decision tree
Private practiceFaster adoption rateAttractive value proposition✔
Pioneering DoctorsHospitalsOB/GYNsPCPs
Direct Sales to doctors
Strong clinical dataTrainingMaintenance
Product DevelopmentClinical trialsOperating Costs
Capital Equipment Sales and disposable item
Product DevelopmentIPClinical trialsFDA
IP Leading doctorsTechnical Expertise
Hospitals (Capital Spending Committee)Leading doctors3rd party manufacturersDistributorsResearch Hospitals
Doctors:Earlier detectionPriceAccuracy
Patients:Radiation FreeNon-Invasive
MammOpticsBusiness Model Canvas 2 of 4
Pioneering DoctorsHospitalsOB/GYNsPCPs
Direct Sales to doctors
Strong clinical dataTrainingMaintenance
Product DevelopmentClinical trialsOperating Costs
Capital Equipment Sales and disposable item
Product DevelopmentIPClinical trialsFDA
IP Leading doctorsTechnical Expertise
Hospitals (Capital Spending Committee)Leading doctors3rd party manufacturersDistributorsResearch Hospitals
Doctors:Earlier detectionPriceAccuracy
Patients:Radiation FreeNon-Invasive
MammOpticsBusiness Model Canvas 2 of 4
How do we get to our customer?
Need sensitivity and specificity
Getting to our customerThe world of direct sales and medical marketing
MammOpticsInterviews
Breast Cancer Advocacy Groups
OB/GYNs
FDA/Clinical Trials
Medical Sales
Be Bright PinkJennifer Glover
Dr. Cindy WooDr. Jags Powers
Dr. Aaron Shuvkan
Katrina BellTanay Dudhela
Jed Hwang
Phyllis WhitelyCarl Simpson
Market Adoptio
n
Key Opinion Leaders (KOLs)
Medical Journals
Continuing Medical
Education
Conferences
Breast Cancer Advocacy Groups
American College of
Obstetricians and
Gynecologists (ACOG)
MammOpticsMarketing
ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market Insurance
ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
RadiologistMammography
MammOpticsCustomer Workflow
Current market
But what would happen if we replace mammography?
Insurance
ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
Breast Radiologists
Technicians Hospitals
Loss of jobsLoss of jobs Eliminates loss leader
Puts emphasis on biopsies
Insurance
ACOGACS
Doctor specialty
committee
Hospital Administrati
on
Technician
Radiologist
Mammography
MammOpticsCustomer Workflow
InsuranceSame cost as mammography
($140)Reduced number of biopsies
($1000)
ACOG/ACSImproved healthcare(mammography weak
technique)
Insurance
OB/GYNsPCPs
Direct Sales to hospitalsDistributor
Strong clinical dataTrainingMaintenanceConferencesCME courses
Product DevelopmentClinical trialsOperating CostsMarketing Costs
Capital Equipment Sales and disposable itemPer use fees
Product DevelopmentIPClinical trialsFDAPublishing
IP Leading doctorsTechnical Expertise
Leading doctorsKey Opinion Leaders3rd party manufacturersDistributorsBreast Cancer FoundationsACOGACS
Doctors:Earlier detectionPriceAccuracy
Patients:Radiation FreeNon-Invasive
MammOpticsBusiness Model Canvas 3 of 4
OB/GYNsPCPs
Direct Sales to hospitalsDistributor
Strong clinical dataTrainingMaintenanceConferencesCME courses
Product DevelopmentClinical trialsOperating CostsMarketing Costs
Capital Equipment Sales and disposable itemPer use fees
Product DevelopmentIPClinical trialsFDAReimbursementPublishing
IP Leading doctorsTechnical Expertise
Leading doctorsKey Opinion Leaders3rd party manufacturersDistributorsBreast Cancer FoundationsACOGACS
Doctors:Earlier detectionPriceAccuracy
Patients:Radiation FreeNon-Invasive
MammOpticsBusiness Model Canvas 3 of 4
Learned how to reach the customer
How do we build a company based on this?
What did the team learn?
• To pivot on their lead customer segment• That the customer decision process has multiple
players• That the marketing ecosystem and sales channel in
the industry has established rules and many players• That the required partners and key activities are
different and more than the first hypotheses• That all of the above changes the cost structure and
revenue model
Process of customer discovery
• Aim for several fast short cycles• Be prepared to – validate– pivot – or stop on a direction
• Aim is for evidence based support for your target market, value proposition and the b-model and strategy that enables this.
Version 1
Version 3
Version 2
Version 4
Time as a dimension
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CustomerDiscovery
CustomerValidation
CustomerCreation
ScaleCompany
Customer Discovery
• Stop selling, start listening– There are no facts inside your building, so get outside
• Test your hypotheses – Two are fundamental: problem and product concept
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Customer Discovery: Rules
• Rule 1: Facts are outside the building, opinions are inside.
• Rule 2: Solve a problem that customers say is important and valuable
• Rule 3: Does the product concept solve that problem?
30
Customer Discovery: Exit Criteria
• What are your customers top problems?– How much will they pay to solve them
• Does your product concept solve them?– Do customers agree? – How much will they pay?
• Can you draw a day-in-the-life of a customer– before & after your product
• Can you draw the org chart of users & buyers
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State Your Hypothesis
• One-time writing exercise • All other time is spent in front of customers • Assumes you’re smart – ( but guessing )