agile, business model, corporate innovation, customer development, lean, lean startup, lean launchpad, stanford, steve blank, video, engr 245

4. Pair makes wearing glasses fun and engaging for children with customizable eyewear that can be
changed on a daily basis to suit their growing personalities and express their creativity.
Nina Ligon
Designer-Maker
Sophia Edelstein
Marketing Maven
Nathan Kondamuri
Go To Market Guy
Michael Vela
The Hustler
110
Interviews

5. T H E B E G I N N I N G
THE
BEGINNING
NAILING OUR
VALUE PROP
LEARNING TO
LET GO
RAPID ITERATION
WHAT WE
LEARNED

6. T H E B E G I N N I N G
Prototype
★ had working prototype from
manufacturer in China
Maker Faire
★ showcased and tested early prototypes
with children and parents
Cardinal Ventures
★ focused on building a business model
based on assumptions and expert advice
★ Emphasized online market research,
networking, and funding

7. B I G I D E A S
Learned what
an MVP is
Learned to let
go of the
physical
prototype
Learned to do
rather than
discuss
Learned how
to interpret
interviews

8. T H E B M C : D A Y O N E

9. T H E B M C : D A Y O N E
Value
Proposition:
We don’t know.
We have a duel
child/parents
customer base
and know that
both care about
different things
Customer
Segments:
Vague customer
archetypes.
Children 5-14
Channels:
Unable to decide
on one channel as
the primary mode
of selling.
Online, in store,
physical
touchpoint…
T H E B M C : D A Y O N E

10. O U T O F T H E B U I L D I N G
Total of 110 interviews, with 122 people interviewed
38% Kids Age
6-13
30%
Parents
17% Other
★ VCs
★ Sales Associates
★ Students
★ Teenagers
★ Young Adults
★ Teachers
15% Optometrists

11. H Y P O T H E S E S
Experiment Pass/Fail Results Next
MVP: Online store Pass - More to follow - 1 Customer Bought
- Need to Iterate and Continue Running
Experiments
Advertising the
site
Offering
Sunglasses
Subscription model
Gauge Interest
Pass - What products currently use subscription
models
-How are these products successful
Would people
want a similar
model for top
frames?
Price Range Pass - kids glasses should be less expensive than
adult glasses
-80-150
-demographics make a difference.
Will people buy
our glasses for our
declared prices.
Design Your Own Pair Pass -Kids love drawing their own pairs and designs
Customizability -
Frequency of Change
Pass -Gave two kids our glasses to wear for a day
and they loved wearing the glasses and
change them throughout the day

12. H Y P O T H E S E S
Experiment Pass/Fail Results Next
Customizable vs.
Normal
Fail -didn’t reach the right audience
-confounding variables in our
ads
Continue
testing MVP
Hosted In Optometrist
Stores
Fail -low traffic of kids
-optometrist didn’t have enough
incentive to showcase the
glasses
Pick better
location
Landing Page Dropoff Fail -Dropped off 50% of traffic
between landing page and main
page
Improve
Website UI
No landing
page

13. VALUE
PROPOSITION
CUSTOMER
SEGMENTS
CHANNELS
THE
BEGINNING
LEARNING TO
LET GO
RAPID ITERATION
WHAT WE
LEARNED
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

14. 1. Customizable
top frames
2. Base Frame
with lenses
3. Direct to
consumer
(shipped to
door)
Value Prop Canvas Before: Kids
1. Relieves children of a bad
first eyesight experience
1. Customizability gives children the ability to
decide what they want out of their glasses daily.
2. Allows for creativity / children can express their
personalities through their top frames
1. Children like being at the
center of the decision
process
2. Children want to enjoy
wearing their glasses
1. Children want to
find a pair of
glasses they can
be excited about.
1. Child doesn’t wear
glasses or always
forgets / loses /
breaks them
2. Uncomfortable
glasses
GAINS
CUSTOMER
JOBS
PAINS
PAIN RELIEVERS
PRODUCT &
SERVICES
GAIN CREATORS

15. 1. Customizable
top frames
2. Base Frame
with lenses
3. Direct to
consumer
(shipped to
door)
Value Prop Canvas Before: Kids
1. Relieves children of a bad
first eyesight experience
1. Customizability gives children the ability to
decide what they want out of their glasses daily.
2. Allows for creativity / children can express their
personalities through their top frames
1. Children like being at the
center of the decision
process
2. Children want to enjoy
wearing their glasses
1. Children want to
find a pair of
glasses they can
be excited about.
1. Child doesn’t wear
glasses or always
forgets / loses /
breaks them
2. Uncomfortable
glasses
GAINS
CUSTOMER
JOBS
PAINS
PAIN RELIEVERS
PRODUCT &
SERVICES
GAIN CREATORS
GAINS
CUSTOMER
JOBS
PAINSPAIN RELIEVERS
PRODUCT &
SERVICES
GAIN CREATORS
Glasses have the ability to change
with the kids as their interests
change
Value Prop Canvas Now: Kids
Children will wear their glasses if
they are involved in the process of
picking them
Child doesn’t wear glasses
or always forgets / loses /
breaks them
Children want to
find a pair of
glasses they can
be excited about.
Customizable top
frames
Kids can express their style
and creativity daily

16. Value Prop Canvas Before: Parents
GAINS
CUSTOMER
JOBS
PAINS
PAIN RELIEVERS
PRODUCT &
SERVICES
GAIN CREATORS
1. Customizable top
frames
2. Base Frame with
lenses
3. Direct to consumer
(shipped to door)
1. Painless process for parents
1. Simple - shipped to door 1. Parents want their children to
like and wear glasses / want
their children to see well
1. Parents want to
improve their
children’s
eyesight.
2. Parents want to
find the best
glasses for their
children’s needs
1. Parents have to be
the “bad guy”

17. Value Prop Canvas Before: Parents
GAINS
CUSTOMER
JOBS
PAINS
PAIN RELIEVERS
PRODUCT &
SERVICES
GAIN CREATORS
1. Customizable top
frames
2. Base Frame with
lenses
3. Direct to consumer
(shipped to door)
1. Painless process for parents
1. Simple - shipped to door
1. Parents want their children to
like and wear glasses / want
their children to see well
1. Parents want to
improve their
children’s
eyesight.
2. Parents want to
find the best
glasses for their
children’s needs
1. Parents have to be
the “bad guy”
GAINS
CUSTOMER
JOBS
PAINS
PRODUCT &
SERVICES
GAIN CREATORS
Value Prop Canvas Now: Parents
Glasses that are
durable, fit well, look
good, and allow for
creativity
Glasses kids want to wear
Many possible designs for lower cost
Parents want their children to
like and wear glasses / want
their children to see well
Parents have to remind
their kids to wear their
glasses
Finding glasses that are
durable, fit well, and look
good
PAIN RELIEVERS

18. VALUE
PROPOSITION
CUSTOMER
SEGMENTS
CHANNELS
THE
BEGINNING
LEARNING TO
LET GO
RAPID ITERATION
WHAT WE
LEARNED
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

20. kids age 6-11 whose parents
encourage creativity, self
expression and a maker
mindset

22. COMPETITIVE
LANDSCAPING
● We focus on children
● Customizable frames
● We establish a lasting
relationship

23. VALUE
PROPOSITION
CUSTOMER
SEGMENTS
CHANNELS
THE
BEGINNING
LEARNING TO
LET GO
RAPID ITERATION
WHAT WE
LEARNED
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

24. Wholesale in Optical Stores
E-Commerce + Pair Store
E-Commerce
CHANNELS

25. Wholesale in Optical Stores
E-Commerce + Pair Store
E-Commerce
CHANNELS

26. B I G I D E A ! ! !
THE
BEGINNING
LEARNING TO
LET GO
RAPID ITERATION
WHAT WE
LEARNED
Obsessing over our physical prototype was . . .
1. Slowing us down
1. Preventing us from making a real MVP
1. Placing us under unnecessary physical constraints
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

27. T H E B M C : D A Y O N ES O W E . . .
THE
BEGINNING
LEARNING TO
LET GO
RAPID
ITERATION
WHAT WE
LEARNED
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

28. R A P I D I T E R A T I O N
THE
BEGINNING
LEARNING TO
LET GO
RAPID
ITERATION
WHAT WE
LEARNED
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS

29. A N D M O V E D O N L I N E

30. we got our first sale within
24 hrs!

31. T H E M V P
★ Fast Iteration
★ Cheap
★ Wide Audience
★ Product Variety
★ Boost Prototype Fidelity
p r o s c o n s
★ 2 MVPs in 1
★ Missing Qualitative Data
★ Need more effective
marketing channels
★ Many Variables

32. THE
BEGINNING
VALUE PROPOSITION
CUSTOMER SEG. &
CHANNELS
LEARNING TO
LET GO
RAPID
ITERATION
WHAT WE
LEARNED
W H A T W E L E A R N E D

33. Average Lifespan: 3 Years
Average Customer Value/Yr: $102.50
Average Customer Value: $200
Customer Retention Rate: 60%
M V P L E A R N I N G S
★ Prescription glasses are a time dependent buy
Parents aren’t always looking to buy glasses for their kids
How can we change that or address that?
★ We need to really understand how to keep parents and
children engaged
explore additional options other than just selling more top frames
subscription
upsell/cross sell

36. CLV = $200 > CAC = $34
L I F E T I M E V A L U E
*Average Lifespan: 3 Years
Average Customer Value/Yr: $102.50
Average Customer Value: $200
Customer Retention Rate: 60%

37. Cost of Resources

38. ($50.49)
Revenue is $99

39. Key Metrics That Matter
Financials Costs (Marketing, Production, and
Distribution) =
$66/unit with current estimates
G&A Costs
Revenue Profit Margin
Web Metrics Total Unique Visitors to Page Paid Visitors/Total Visitors Viral Coefficient
Customer Customer Acquisition Cost
= $34
Customer Lifetime Value
= $200
Average selling
price/customer order

40. K E Y P L A Y E R S
Parent
$99 + [n*($15)]
Child
Pays for Glasses
Buys Glasses
for Child
Lens
Provider$15
Cuts Prescription Lens
Provides Glasses
with
prescription?
(Distribution
option 1)
Send Prescription
Optometris
t Provides
Prescription
Eye
Exam
$50
Insurance
Provides
Receipt for
Insurance
Frame
ManufacturerFrames
(Distribution
option 2)
A C O M P L E X S Y S T E M

41. R E M I N D E R O F D A Y 1

42. Children 6-11 whose parents
encourage self-expression,
creativity & making
Child: bought glasses before
Parents who wear glasses
Parents who are new to
glasses
Lens Providers: Cuts the
lenses to customer’s
prescription
Publications: parenting
magazines/blogs
GET: Publications, Search
Ads, Community Outreach,
Blogs, Word of Mouth,
Glasses seen on kids
KEEP: Customer Service, Fun
& Creative Communities,
Loyalty
GROW: Cross-sell, Up-sell,
Referrals
Online Direct to Consumer
Pediatric Ophthalmologist
Children can express their
creativity through our glasses
Provide an interactive and
exciting buying experience for
kids
Children can express their
creativity through our glasses
Children can design/draw their
own glasses
Convenient and pain-free for
parents
Durability, Fit, Aesthetics
-Physical: Build frames w/ CM.
Manage supply chain to distribute
glasses to customers monthly,
annually, and bi-monthly
-Intellectual: Logo, Trademarks,
Design + Technical IP.
-Human: Mentors, Consultants
-Take/ input Pupillary Distance
-Financial: Angel, F&F,
kickstarter
$$ for production + distribution +
operating costs
Materials, Manuf. tools and
inventory
Intellectual Property
Frame manufacturer
Lens manufacturer
Licensed optician
Optical Retailers
Other children consumer
product retailers
Schools
Insurance companies
Outside brand/character
licensing
Celebrities/Role Models
Manufacturing
FDA Registration
Packaging +
Home Try On
Distribution + Inventory
Web Dev + Maintenance
Returns + Repairs
Customer Acquisition
Sales & Marketing
Salaries + Office Space
Base Frame + 1 Top = $99
Additional Tops = $15 Each
Seasonal promotions/products
Subscription
Glasses cases
Sunglasses
KEEP: extra features over customer lifetime
(accessories, customization)
T H E B M C
A S O F N O W

43. Children 6-11 whose parents
encourage self-expression,
creativity & making
Child: bought glasses before
Parents who wear glasses
Parents who are new to
glasses
Lens Providers: Cuts the
lenses to customer’s
prescription
Publications: parenting
magazines/blogs
GET: Publications, Search
Ads, Community Outreach,
Blogs, Word of Mouth,
Glasses seen on kids
KEEP: Customer Service, Fun
& Creative Communities,
Loyalty
GROW: Cross-sell, Up-sell,
Referrals
Online Direct to Consumer
Pediatric Ophthalmologist
Children can express their
creativity through our glasses
Provide an interactive and
exciting buying experience for
kids
Children can design/draw their
own glasses
Convenient and pain-free for
parents
Durability, Fit, Aesthetics
-Physical: Build frames w/ CM.
Manage supply chain to distribute
glasses to customers monthly,
annually, and bi-monthly
-Intellectual: Logo, Trademarks,
Design + Technical IP.
-Human: Mentors, Consultants
-Take/ input Pupillary Distance
-Financial: Angel, F&F,
kickstarter
$$ for production + distribution +
operating costs
Materials, Manuf. tools and
inventory
Intellectual Property
Frame manufacturer
Lens manufacturer
Licensed optician
Optical Retailers
Other children consumer
product retailers
Schools
Insurance companies
Outside brand/character
licensing
Celebrities/Role Models
Manufacturing
FDA Registration
Packaging +
Home Try On
Distribution + Inventory
Web Dev + Maintenance
Returns + Repairs
Customer Acquisition
Sales & Marketing
Salaries + Office Space
Base Frame + 1 Top = $99
Additional Tops = $15 Each
Seasonal promotions/products
Subscription
Glasses cases
Sunglasses
KEEP: extra features over customer lifetime
(accessories, customization)

44. B I G C H A N G E S
W E E K 9
Children Ages 6-11 whose parents encourage
creativity, self expression, & a maker mindset; and
who have bought glasses before
VP for Parents: 3 Key Factors of the Glasses
Durability, Fit, and Aesthetics + Child Wears
Glasses
Value in keeping and growing customers through
engagement and repeat buying of top frames
Focus on an online platform/shopping experience
Children Ages 5-14
- Broken into Age Segments
- Broken into Gender Segments
VP for parents focused on ease
Customer Relationships focused on
getting customers
3 potential channels
W E E K 1

45. L I F E L E S S O N S L E A R N E D
Don’t spend too much time discussing hypotheses. Go test them!
Celebrate your victories, then use them to move forward.
You can do research with more than just your direct customers
We learned what an MVP was

46. N E X T S T E P S
★ Continue to iterate with online MVP
○ Will parents buy online?
○ Test Children’s Sunglasses
○ Scope Interest in Adult Market
★ Investigate Channels
○ Reach parents at a time when they are
looking for children’s glasses?
○ Build relationships with Optometrists to
allow us to showcase glasses in their stores
★ Revenue Streams and Pricing Strategy
○ Creative ways to sell
■ subscription
■ upsell and cross sell
○ What’s the right price?

47. Presale successful (e.g. exceed
Kickstarter fundraising goal)
K E Y M I L E S T O N E S
Optometrist agrees to
host us in their store
Frame and lens
manufacturers finalized
Designs finalized and
ready for production
Initial funding
successful
Smoke test traction
(100 orders)
Launch

48. T H A N K Y O U ! !
and remember...
BIG IDEA: all good things come in pairs

49. Backups

50. K E Y L E A R N I N G S
Value
Proposition:
Customer Segments:
Kids
★ Our glasses are engaging to children, but do
not necessarily encourage them to wear their
glasses more often
★ Confirmed that color is a driving factor when
kids pick glasses
Parents
★ Want their kids to look good
★ Want to make sure their kid’s glasses are
good quality, especially first-time buyers
Kids
★ Redefined and narrowed our customer
segment to children ages 6-11
○ Our early adopters are kids with parents
who encourage them to be creative and
develop a maker mindset
Parents
★ Have a better understanding of what parents
value and how to reach them
○ Q ratings are a good metric for parent
engagement with different brands,
including celebrities
○ We can reach parents through parenting
networks, magazines, and blogs, as well
as through schools, and after-school
activity channels
★ Confirmed online retail as the most cost-
efficient retail channel that also shows
potential for growth and expansion
Channels:

51. T H E R O A D B L O C K
WEEK 5
Problems and why we were getting stuck
★ Our strategy was inefficient because we were unable to test our MVP in more than one
location at a time
★ Our testing was limited to Palo Alto and surrounding areas because our physical prototypes
could not be tested in places we could not easily get to physically
★ Our MVP was limited by what we could physically make ourselves in a short timeframe
What did we need to figure out that we couldn’t with current methods
★ Pricing Strategy
★ Quantitative user data
★ Validating customizability as an engaging feature
★ Understand whether kids actually like our top frame designs
★ Online store as a channel