Lean Venture Series - Stage 3 Lesson 1 Slides
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Transcript of Lean Venture Series - Stage 3 Lesson 1 Slides
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Stage 3: Preparing to GrowLesson 1: Spreading the Word About Your Idea
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By the end of this lesson you should be able to:
• Tell the story of your business model based on your latest iteration of your Business Model Canvas, Value Proposition Design, and Terrain Map.
• Identify key gaps that need to be filled and work on some as feasible in class.
• Use this story as the basis to begin developing a strategy for SPREADING THE WORD ABOUT YOUR IDEA.
• Define the elements of a successful brand, which are (based on CREATING A BRAND template):– Brand pyramid: vision, values, attributes (work on in class), – Communications framework: tagline, stories and key messages (post-lesson
assignment).
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By the NEXT lesson you should be able to:
• Define 5 principles that are most effective for driving Word of Mouth
• Define the elements of a successful brand, which are (based on CREATING A BRAND template):– Brand pyramid: vision, values, attributes (work on in class), – Communications framework: tagline, stories and key messages
(post-lesson assignment).• Understand what it takes to create a brand• Understand key principals of Word of Mouth strategy• Understand and develop the fundamentals of Growth Hacking
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• Feature set for MVP• Validated learning• Pivots
Problem worth solving? Built something people want? How accelerate growth?
Ideal time to raise funding Concept Source: Blank Four Stages
to the Epiphany; Maurya, Running LeanImage Source: Startitup
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• 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
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• 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
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Creating a brand• What is a brand?
https://www.youtube.com/watch?v=9xkJJdXNdWs
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Review• What is your “to do” list on your
business model?• Branding – in relation to marketing
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For next class• Read & review lesson 1 content• Complete right hand-side of “bow tie” template:
“COMMUNICATIONS FRAMEWORK”• Draft a “FOUNDING STORY” to share with the class
as a basis for building a WORD OF MOUTH strategy• Create a list of possible GROWTH HACKS for your
business: Research them and start testing their success; find the metrics that will help you decide if they are helping you grow your startup.
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See you in TWO WEEKS!
Next class: Stage 3 - Lesson 2
June 9, 2016
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