Lecture on Business Model Canvas and Customer Interviews
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This presentation was held as part of the lecture and entrepreneurship workshop on "Mehrwertiges Unternehmertum" at Zeppelin University, Friedrichshafen. Subject of the presentation is the explanation of the business model canvas and the problem/solution validation with customer development interviews.
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Lecture on Business Model Canvas and Customer Interviews
- 1. Sebastian Fittko on Business Model and Idea Validation at Workshop „Mehrwertiges Unternehmertum“, Zeppelin Universität 1
- 2. About Sebastian Intro Business Idea Intro Business Model Canvas Q&A How to validate a Business Idea Q&A
- 3. About Sebastian Intro Business Idea Intro Business Model Canvas Q&A How to validate a Business Idea Q&A
- 4. About Sebastian Intro Business Idea Intro Business Model Canvas Q&A How to validate a Business Idea Q&A
- 5. NEW IDEA Image curtsey: http://www.flickr.com/commons
- 6. Without Execution & Insights Image curtsey: http://www.flickr.com/commons
- 7. Traction Time Problem/ Solution Fit Product/Market Fit Image curtsey: http://www.flickr.com/commons Scale
- 8. GET OUT AND EXECUTE!! Image curtsey: http://www.flickr.com/commons
- 10. Insights Where is the pain? Image curtsey: http://www.flickr.com/commons
- 11. Ask your potential customers!
- 12. Qualitative Asking for customer‘s intent Image curtsey: http://www.flickr.com/commons
- 13. &
- 14. Quantitative Measure customer behavior Image curtsey: http://www.flickr.com/commons
- 15. How to execute?
- 16. Start here? Image curtsey: http://www.flickr.com/commons
- 18. „Everybody has a plan until they get punched in the mouth.“ – Mike Tyson
- 20. Day Month No. Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams? What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive? What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they? For whom are we creating value? Who are our most important customers? Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http:/ /creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. BIG thanks to Alex Osterwalder! You can download the here: http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf Year
- 22. google business model canvas or http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf
- 25. Day Month No. Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams? What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive? What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they? For whom are we creating value? Who are our most important customers? Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http:/ /creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. BIG thanks to Alex Osterwalder! You can download the here: http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf Year
- 26. Day Month Year No. Who are our Key Partners? Who are our key suppliers? Which Key Resources are we acquiring from partners? Which Key Activities do partners perform? What Key Activities do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue streams? Hypothesis What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Hypothesis What type of relationship does each of our Customer Segments expect us to establish and maintain with them? Which ones have we established? How are they integrated with the rest of our business model? How costly are they? For whom are we creating value? Who are our most important customers? Hypothesis Hypothesis Hypothesis What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? Through which Channels do our Customer Segments want to be reached? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? Hypothesis What are the most important costs inherent in our business model? Which Key Resources are most expensive? Which Key Activities are most expensive? For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? Hypothesis Hypothesis This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http:/ /creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. BIG thanks to Alex Osterwalder! You can download the here: http://www.businessmodelgeneration.com/downloads/business_model_canvas_poster.pdf
- 27. Go out an ask your customers
- 28. Get your numbers right! Image curtsey: http://www.flickr.com/commons
- 29. About Sebastian Intro Business Idea Intro Business Model Canvas Q&A How to validate a Business Idea Q&A
- 32. Newness: You solve a unsolved problem! Image curtsey: http://www.flickr.com/photos/72439897@N02/6623264623/sizes/l/in/photostream/
- 33. Performance: Your product has a better performance than the competition! Image curtsey: http://www.babez.de/wp-content/myfotos/bf-performance-gt660/bf-performance-gt-660-02.jpg
- 34. Customization: You enable to customize products by the user http://media.cmgdigital.com/shared/img/photos/2013/02/10/58/41/MichaelDell1jpgCopy.jpg.JPG
- 35. Getting things done: You help your customers to get things done. http://capmembers.com/media/cms/working_together_in_space_hires_E77D1F50E1332.jpg
- 36. Design, UX, CX: You have just a stunning design, UX and CX. http://3.bp.blogspot.com/_wuUoxyO0BNI/TCsb1xIOeuI/AAAAAAAAIWw/k9ph1nqXj2w/s1600/P1040804.JPG
- 37. Price: You can offer you product simply cheaper than the competion could. http://www.gemeinde-asbach.de/img/ALDI.JPG
- 38. Cost reduction: You help your cusomers to reduce cost. http://cdn.physorg.com/newman/gfx/news/hires/2012/1-containershi.jpg
- 39. Risk reduction: Reducing risk for you customers (more reliable product or service) http://files.mercedes-fans.de/images/2010/09/mercedes-benz-hightech-airbag-gurtstraffer-w126-innovationtf012.jpg
- 40. Accessibility: Making things accessible to your cusomers they could not afford or access before. http://www.airlinereporter.com/wp-content/uploads/2010/10/airlines1.jpg
- 41. Wake the world a better place: Solving social or environmental problems for the good of the society. http://www.airlinereporter.com/wp-content/uploads/2010/10/airlines1.jpg
- 44. What are you aiming for? „Being in a good market with a product that can satisfy that market.“ – Marc Andreessen Image curtsey: http://www.flickr.com/commons
- 45. Go where the beef is and people want your stuff!! Image curtsey: http://www.flickr.com/commons
- 46. Mass market Image curtsey: http://1.bp.blogspot.com/-wYRDKwwuvZk/Tq6Esx2CoAI/AAAAAAAABkg/d7jEc7vPzT0/s1600/Crowd_Obama_Inauguration_Day_Big.jpg
- 47. Niche Market Image curtsey: http://www.trashness.com/wp-content/uploads/2012/06/preppy-hipster.jpg
- 52. Key Activities Key Ressources How you serve the customer Customer Segment
- 54. Maintaining your customer relationship http://www.bruchsal.org/sites/default/files/1_40_Jahre_Dinner_for_one.jpg
- 56. Service Sales
- 58. Retail
- 59. Commision
- 60. Licensing
- 61. Advertising
- 62. Renting
- 65. Key Partner Key Partner Key Activities Activities Key Resources Cost Structure Value Proposition Channels Customer Segment Customer Relationship Revenue Streams
- 68. Key Partner Key Activities Value Proposition Key Resources Cost Structure Channels Customer Segment Customer Relationshi p ≤ Revenue Streams Revenue Streams
- 69. About Sebastian Intro Business Idea How to Work with Business Model Canvas Q&A How to Validate Q&A
- 70. Any Questions? Image curtsey: http://www.flickr.com/commons
- 71. About Sebastian Intro Business Idea Intro Business Model Canvas Q&A How to Validate Q&A
- 72. How to gather customer insights and validate decisions? Image curtsey: http://www.flickr.com/commons
- 73. Quantitative Measure customer behavior Image curtsey: http://www.flickr.com/commons
- 74. vs.
- 75. Qualitative Asking for customer intend Image curtsey: http://www.flickr.com/commons
- 76. We do this in two steps: 1st step Validate Problem 2nd step Validate Solution Do they care? Do they need it? Do they have budget for it? Who really is they? Does our solution really solve their Problem? Do they understand the solution? Would they pay for it?
- 77. Numbers are a horrible way to understand customer intend! Image curtsey: http://www.flickr.com/commons
- 78. So go and ask your customers!
- 79. “If I had asked people what they wanted, they would have said faster horses.” – Henry Ford Image curtsey: http://www.flickr.com/commons
- 80. The hard things in customer interviews Knowing who your customer is. Define narrow segmentation! 5-10 customers per segment.
- 81. The hard things in customer interviews Ask the right way. Did or do, NEVER would. Don‘t ask for opinions. Don‘t assume problems.
- 82. The hard things in customer interviews Use their feedback. Know what you want to learn. Test your riskiest assumptions. Learn or pivot.
- 83. The hard things in customer interviews Be prepared to kill your idea!
- 84. The interview Design a questionnaire based on your assumptions. Testrun the interview. Let them speak. Ask open questions. Let them be the expert. In person, no Skype, no online survey, no phone, no email! Don‘t do more interviews if feedback repeats!
- 85. The interview – protocol No laptop. Use Post-its. Write down exact customer phrase.
- 86. NEVER delegate interviews! Interviews should be done by the product deciders. Lern to talk and listen to your customers! Image curtsey: http://www.flickr.com/commons
- 87. Review with your team! Use exact wording by the customer. Understand their answers in their context. Reflect and rethink your assumptions. Which assuptions turned out wrong? See what you‘ve learned. Adapt your solution.
- 88. Validate Solution. Come back to interviewees. Focus first on current solution. Discuss flaws of current solutions. Show mockups and interactive demos. Get improvement feedback. Get them to commit. Pay a price? Build a MVP. or iterate.
- 89. If you were wrong – be HAPPY! You don‘t wasted your money, time and money Iterate or pivot Usually a successful startup didn‘t start with the final solution Image curtsey: http://www.flickr.com/commons
- 90. About Sebastian Intro Business Idea How to Work with Business Model Canvas Q&A How to Validate Q&A
- 91. Any Questions? Image curtsey: http://www.flickr.com/commons
- 93. Must-reads!