Startup weekend introduction
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Transcript of Startup weekend introduction
What’s the Weekend Idea?
Business Model
HypothesesTest Problem Test Solution
• MVP• Customers
• Does Anyone Care? • Do they Like It?• How will you Get/Keep/ Grow Them?
KEYPARTNERS
VALUE PROPOSITION
CHANNELS
CUSTOMER RELATIONSHIPS
CUSTOMERSEGMENTS
REVENUE STREAMSCOST STRUCTURE
KEYACTIVITIES
KEYRESOURCES
16
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Business Model Canvas – Any Business
building
block
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developersPharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developersPharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
CustomerSegments
Value Proposition
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developersPharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
CustomerSegments
Value Proposition
Product/Market Fit
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developers
Pharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
CustomerSegments
Get, Keepand Grow
Channel
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developers
Pharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
Who Are Our Customers?How Do We Reach Them?
CustomerSegments
Get, Keepand Grow
Channel
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developers
Pharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
Costs Revenue
General methodology for
adding fluorine to lead compounds of
interest
Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds
IPPoP dataRegulatory planUnderstanding of the regulatory process
Contract cGMP precursor manufactureSalary, RentsClinical trials
SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising
Nuclear Medicine and Radiology departments
Technical Assistance (Image Atlas)FDA regulatory support
Radiopharmacies
Equipment producers
Prescribing physicians
Radiologist who perform studies
Sales of intermediates
Technology license
Product license (royalty)
Drug developers
Pharmaceutical development companies
IPPoP data
Radiologists
Technical assistancecGMP manufacturersRadiopharmacies
Direct sales of precursor
Sales of packaged precursor in cassettes
Cassette manufacturers
How Do We Make Money?
Costs Revenue
Customer Development is how you search for the model
CompanyBuilding
Customer Creation
Execution
Customer
Discovery
Customer
Validation
Pivot
Search
Customer Development
Customer
Discovery
Customer
Validation
Pivot
Search
The Search For the Business Model
Customer Development
CompanyBuilding
Customer
Discovery
Customer
Validation
Customer Creation
Pivot
Execution
• Articulate and Test your hypotheses• Design experiments, start listening• Continuous Discovery• Done by founders
Customer Discovery
CustomerDiscovery
CustomerValidation
CompanyBuilding
CustomerCreation
Execution
Search
Pivot
Discovery
• How big is the market?• Who’s the customer?
– What’s their problem/need
• What’s the product/service/need?– Does it solve the customers problem?
• How do you create demand?• How do you deliver the product?• How do you make money?
Customer Development =process to search
Business Model Canvas =the Scorecard
Agile Engineering is How We Build Startups
•Research Labs•Equipment Manufacturers•Distribution Network•Service Providers
•Technology Design•Marketing•Demo and customer feedback
•Cost Reduction•Remove labor force pains•Eliminate bio-waste hazards
•IP – Patents•Video Classifier Files•Robust Technology
•Farming conventions.•Demo, demo, and demo!!•Proximity is paramount
•Organic Farmers•Weeding Service Providers•Conventional Farmers•Dealers
•Direct Service•Indirect Service• … then Dealers
•Asset Sale•Direct Service with equipment rental•… then Asset Sale
Value-Driven
Customer Validation
Customer
Discovery
CustomerValidatio
n
Customer Creation
CompanyBuilding
• Repeatable and scalable business model?
• Passionate earlyvangelists?
• Pivot back to Discovery if no customers
Pivot Execution
Search
The Minimum Viable Product (MVP)
• Smallest feature set that gets you the most …
- orders, learning, feedback, failure…
- incremental and iterative
The Pivot
• The heart of Customer Development
• Iteration without crisis
• Fast, agile and opportunistic
Customer
Discovery
Customer
Validation
Pivot
Search
Pivot Cycle Time Matters
• Speed of cycle minimizes cash needs
• Minimum feature set speeds up cycle time
• Near instantaneous customer feedback drives feature set
CustomerDiscovery
CustomerValidation
CompanyBuilding
CustomerCreation
ExecutionSearch
Pivot
The Startup Owners Manual
• The Reference Manual for Entrepreneurs
• Separate Web/Mobile versus Physical tracks
Web/Mobile Versus Physical
• Web/Mobile startups run faster
• Different process steps for web vs. physical
• Customer Relationships are radically different
Customer
Discovery
Customer
Validation
Pivot
Assumption of Customer PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
PIVOT!
80% positive response
Assumption of Customer PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
People will pay extra to have a
great, guaranteed parking spot.
People will not only pay more,
they will pay a lot more! ($9+)
Validated!
Surveyed 75+ Customers
PIVOT!
64
Customer Survey/Validation
• How much more would you be willing to pay to have a guaranteed close parking spot in the arena's lot or near the arena?– On average- $9.33– Max of $27.00
Assumption of PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
People will pay extra to have a
great, guaranteed parking spot.
People will not only pay more,
they will pay a lot more! ($9+)
Validated!
Surveyed 75+ Customers
People who have extra spaces will post spots and make money.
It is difficult to get a mass number of
people to post enough parking
spots.
We needed to find a new solution.
30+ People
PIVOT!
PIVOT!
Expert Validation
• Tom Lombardi and Greg Bessoni– Online parking reservation experts
Partnered with me and put up
capital.
New AssumptionsParking lots will
post spots online so that people
can reserve them.
Yes! Lots have been looking for ways to increase revenue and fill
up lots.
30+ Parking Lots Bigger Pain
Electronic payments in
advance through an online
reservation system.
Validated!
30+ Parking Lots
20% of cash goes missing.
Loved it! Would pay about 15% of
posted price.
75% positive response
MVP ValidationEasier ways to post parking &
track reservations.
Started with a very basic
reservation system.
All Pro Parking (30 lots)
30+ person focus group Search process
was too hard. Wanted mobile
site as well.
Fixed search, cleaned up site,
mobile site in the works.
Made it even easier to post
and track parking.
All Pro Parking’s
Customers
With no marketing-
50 reservations in just a few
months.
Our Model
$5 Reservation Fee
15% of Price Paid
XoomPark
We estimate being able to collect about $8 per reservation
Go to Market Strategy & ValidationTalked to Tom
Lombardi, industry expert.
Lots located throughout Florida and in Dallas,TX
Lots located all over West Coast and Texas
Parking lots in all 50 states
Over 250 lots throughout Eastern US.
25+ years experience
Go to Market Strategy & Validation
Customer’s recommendations
for the future
Focus group of
30+ people
Market Size
$8.2 Billion USA Parking Industry
$4.5 Billion Parking Facility/Management
$1.4 Billion Event Parking
$240,000 Buffalo and Atlanta
TAMSAMTarget
Market
Apex
Revenue Projections
Year 1 Year 2 Year 3 Year 4$0$2$4$6$8
$10$12$14$16$18$20
Revenue
Revenue in Mil-lions
70% Gross Profit Margin