Date post: | 06-Aug-2015 |
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Braintree Business Development Center Mansfield, Ohio
www.braintreepartners.org201 E 5 th Street
Mansfield, OH 44902419-525-1614
Entrepreneurial Paradigm Shift
Drawing out a business model is easy, validating assumptions through customer discovery is hard.
Mass marketStreaming music based on user defined genre
Continually increasing library
None
• Pandora platform• Music access for
all styles• Internet services
• Music genome project
• Sales • Programming • Music labels
• Webhosting /internet
• Ad networks
• Content acquisition• GSA – (employees)
Advertisers
Ad revenue
Annual or monthly subscription
• Pandora.com• Apps • Desktop player
Ads consumers are likely listening to
Ad-free Streaming music
But…how do I know my canvas is right?
Hypothesis
HypothesisHypothesis
HypothesisGuess
Guess
Guess
Guess
Hypothesis
Lean Startup Process
This is how you will test your hypotheses…Favored testing process• Build specifically to measure
customer feedback• Measure customer interaction in
reference to what your hypotheses• Sift through all your data to find
the real answers (maybe unspoken)
• Let your learning guide what you build next
New technology based ideas in Northeast OhioWe provide:
Grant funding without equity position
• Up to $25,000 for Braintree tenants
• Acceptable funds uses include: design, prototypes, patents, initial inventory, etc.
Business model design
Funding pitch development
Competitive process experience
Startup businesses in Northeast OhioWe provide:
• Term loans of $1,000-$50,000
• Current interest rate of 7.25%, other terms vary based on specific needs
• Loan uses include: equipment, inventory, business debt restructuring, and project based working capital
Basic requirements:
• Collateral
• Personal guarantees
• Demonstrated revenue sufficient for loan payments
Kick around some ideasWe provide a venue for
• Brainstorming, collaboration, and idea vetting
• Crowdsourced feedback from other people like you
4th Thursday of each month – in this same room
Basic requirements:
• Participation
• Confidentiality
Microsoft BizSpark is a global program designed to help accelerate the success of early stage startups, providing: Software
• Development tools and technologies to build applications
• Production licenses of server products (including Windows Azure Platform)
Support• Community support from Network Partners• Professional technical support from Microsoft
Visibility• Profile and promotion on BizSpark Connect
Support
Visibility
Software
The Braintree Team
Bob Cohen, CEOTechnology commercializationAgribusiness and cooperativesInternational tradeCrowdfundingPresentation skills
Bob Leach, Director of OperationsInformation technologyEnergy technologiesSocial mediaFacility design and managementMicroSoft BizSpark TM
Barrett Thomas, Learning & LendingBusiness modelingCustomer discoveryBusiness AnalysisAppleseed MicrofinanceTech Sprout
Terrie Bonfiglio, Executive–in–ResidenceBusiness DevelopmentProduct DevelopmentMarket DevelopmentBusiness Analysis
Mass marketStreaming music based on user defined genre
Continually increasing library
None
• Pandora platform• Music access for
all styles• Internet services
• Music genome project
• Sales • Programming • Music labels
• Webhosting /internet
• Ad networks
• Content acquisition• GSA – (employees)
Advertisers
Ad revenue
Annual or monthly subscription
• Pandora.com• Apps • Desktop player
Ads consumers are likely listening to
Ad-free Streaming music
Example business model innovation
$
Minimum Viable Product
Minimum Viable Product – Lean Startup p.93“A minimum viable product (MVP) helps entrepreneurs start the process of learning as quickly as possible. It is not necessarily the smallest product imaginable; it is simply the fastest way to get through the Build-Measure-Learn feedback loop with the minimum amount of effort… It’s goal is to test fundamental business hypotheses”
• The Video MVP – Dropbox• The Concierge MVP – Food on the Table• The Wizard of Oz MVP – Aardvark (acquired by Google)
Search mode: A startup is searching for a repeatable and scalable business modelBusiness Model Canvas: The tool to document your businessSearching for the business model = customer discovery = hypothesis testingWhat are you testing? All the nice, neat assumptions in the business model canvas• First, you test basic assumptions – problem testing
(learning about the customer, need/problem/want) • Then, you test the solution – minimum viable product (MVP)Build, Measure, Learn: the methodology for testingMVP: The version of your product that gets you through the build, measure, learn cycle the fastest.
What are we doing again?
Starring:Lindsay Simsof
Lean Startup meets Business Model Canvas
Iterative development
Iterative development
Iterative development
Iterative development
How to find your business model
…but why are there two canvases?
The business model canvas is great for existing businessesThe lean canvas is specifically for startups
Business Model Canvas vs Lean Canvas