Post on 01-Nov-2014
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Our Books
A Disruptive Wave is Building
Volatility, Uncertainty,Opportunity.
Those whocontinuously create
new value for new customers.
Winners
Lean Entrepreneurs Surf Uncertainty
The culture around you
Your company culture
Old school startup
Lean Startup
Business plan
Business model
What is Lean?
• Elimination of waste in the production and delivery of value to customer
Value Stream
• Producing a known product (mini-van) for a known consumer (soccer mom)
• Value-add activities (assemble part)• Non value-add activities (forklift parts
across warehouse)
Lean Objective
• Lose waste:– Make value-add activities more efficient– Eliminate non value-add activities (if
possible)– Must maintain value to customer
Measurement of Waste
• Excess Inventory• Excess Labor • Unused or scrap raw material
What is Lean Startup?
• Don’t know value• Don’t know customer• Elimination of waste in
discovering value and customer
Lean Startup Value Stream
• If you don’t know what value, how do you know what activities are wasteful?
Lean Startup Measurement of Waste
• Validated Learning
How do you build something people need?
Customer Interaction & Segmentation
The Lean Entrepreneur
The Lean Entrepreneur
Data & Actionable Metrics
The Lean Entrepreneur
Innovation Spectrum
Optimize inside out
Passion
Activation
Funnel
Acquisition
Reach
Engagement
Market Segment & “Value Stream”
your market
• Product-Market ft is driven by nailing core value proposition for hyper segmented markets
• Growth is determined by pursuing multiple segments over time.
• Size of opportunity is determined by size & number of segments
Bowling Pin Strategy
market segmentation
• People who share the same pain and speak the same language.
segmentation clues• Different level pain or passion
• Seek to solve problem differently
• Require different marketing
• Require different distribution
• Require different sales
• Not necessarily demographic-based
• Not “verticals”
Segment MatrixCriteria \ Segment
Depth of Pain Budget Market
SizeTime to
MVP Reach Values
Sole Chef H M M H M H
Team ind. H H M H M H
Small Corp M H H M L M
Big Corp M H H L L L
Where do they“hang out?”
Pain or Passion
Impact ofaddressing
pain/passion
Who Influences
them?
Market Segment
CustomerCustomerSegmentSegment
AwareAware
IntriguedIntrigued
Convinced
Convinced
TrustingTrustingHopefulHopeful
SatisfedSatisfed
Passionate
Passionate
Value Stream Discovery
Business ModelAwareAwareIntriguedIntriguedConvince
dConvince
d TrustingTrustingHopefulHopefulSatisfedSatisfedPassionate
Passionate
GrowthEngine
MVP Conversion Funnel Acquisition
Why
Company Activity
DesiredBehavior
Metric
CustomerState
COMPANY:Over achieveson value prop;Offers referral
incentive
CUSTOMERBEHAVIOR:
Refers product;resubscribes
METRIC:Referrals;
MustHaveScoreLifetime value (LTV)
Passionate
CUSTOMER is passionate because:Own business grows
Having used the product for several months, the customer is seeing her own company grow. Your product has helped her achieve this. She is PASSIONATE about your product.
She resubscribes to your product AND takes you up on your offer to get a month free if she refers the product to others and they buy.
COMPANY:Provides
wizard, survey tool,
dashboard;“instruments”
product
RESULTINGBEHAVIOR:
Continues to use the product in a specifc way
over time
METRIC:Engagement -
Sends survey every 2 wks;Views dashboard daily
Satisfed
CUSTOMER is satisfedbecause: is able to see market signal for own
product
The customer is using the product on a regular basis and it is doing what was promised.
She is SATISFIED with your product.
She uses the assumption wizard, the survey tool, and the dashboard on a regular basis.
COMPANY:Overcome
‘blank slate’;Offers free
‘getting started’support
RESULTINGBEHAVIOR:Uses wizard,sends survey
METRIC:Activation
Creates and Sends survey
Hopeful
CUSTOMER is hopeful because: wants specifc
problem solved, egwants to track market signal
The customer has purchased. She is eager to get started, but also may have feelings of regret, wondering if it was the right decision.
She is HOPEFUL your product works as promised and addresses her need.
To test, she logs in, documents her assumptions, creates survey, and sends it out.
COMPANY:Allows customer
to use demofeatures;
FAQ allays lastminute fears;
Final phone call
RESULTINGBEHAVIOR:Purchases
METRIC:Pays
Convinced
CUSTOMER is convincedwhen:
Has demo’d the product and believes it is a good
ft
The customer successfully demo’d the product and believes the product will work for her.
She is CONVINCED your product will work.
She buys the product.
COMPANY:Inside Sales
calls customer;offers reference;
talks aboutdemo program
RESULTINGBEHAVIOR:Wants to try
product
METRIC:Signs up for trial
Trusting
CUSTOMER is trustingwhen:
Impressed with testimonials and reference
was glowing.
The customer reads testimonials and TRUSTS your business.
She wishes to demo the product.
COMPANY:Messaging/Positioning
Video
RESULTINGBEHAVIOR:
RequestsContact
METRIC:Sales Call
Intrigued
CUSTOMER is intriguedwhen:
Product sounds like it’spositioned for her;
Benefts sounds right
Having read the messaging that states that this will help her business grow, she believes the product might be a good ft.
She is INTRIGUED about the product.
She would like to speak with a sales person and talk to a reference.
COMPANY:Reach out to 3rd party
blogger
BEHAVIOR:Visits company
Web Site
METRIC:Unique Visitors by
referral
Aware
CUSTOMER:Reads frst learns product
reading about it on ablog.
Having discovered the product via a blogger she respects, she is INTRIGUED about the product.
She visits your web site to read more.
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Thank You!
• Twitter/Facebook/LinkedIn: @brantcooper• email: brant@marketbynumbers.com• Blog: Market By Numbers
• Book site: http://leanentrepreneur.co