be one of the 10%: how to have a successful startup - part 2
TRANSCRIPT
Be one of the 10% How to have a successful startup
Part 2
Photo: Matt Biddulph
Alice Sowerby + Steve Clark@SowerbyAlice + @ResourceSteve
Session outcomes● Understand why the BMC is useful in (lean) startups● Understand importance of
1) Finding product-market fit2) Planning early for monetisation and value capture3) Understanding what to do yourself and when to buy or partner
● Knowing some key techniques to validate your BMC
The Business Model Canvas (BMC)
● One-page business model
● Created by Alexander Osterwalder in 2008
● Lean startup template AND strategic management template
● Widely adopted, extended and adapted
● Quick, lightweight, easily iterated
Techniques to use with the BMC
Product-market fit
Revenue model
Back end
Product-market fit Finding your customers’ unmet needs
● Real pains● Jobs to be done● Valued gains
Meeting these needs with a product or service that
● Relieves pain● Facilitates jobs to be done● Delivers valued gain over current solutions
Customer Development process
Product-market fit activities● You have some cards with the details of an activity you can do to help find
product-market fit. ● Take each card and place it somewhere along the spectrum between these
two stages:
Understanding likely customers and needs
Understanding likely problem-solution fit
Revenue model
Revenue model How will you build your product and business to:
● Reach the right customers● Achieve maximum lifetime value
Relationships - Get, Keep, Grow
Hot trigger in the path of a motivated person
Revenue model
Channel EconomicsSome channel types
● Direct● Indirect● Reseller● OEM
Costs to consider per channel
● Cost of goods● R&D● Selling costs + channel fees● General and admin● Discounts
Revenue StreamsYour model could include
● Asset sale● Licence sale● Subscription● Usage fee● Rental● Referral fee● Advertising
More ways to monetise
● B2B offering● Sell the sawdust (the byproduct
of your business e.g. data)● Wholesale● Franchise● Consulting● Marketplace
Back end
Making a viable business (back end)
Looking at your cost structure, where will you
● Produce goods and services directly● Buy goods and services in● Partner with other companies to provide goods and services
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Be one of the 10% How to have a successful startup
Part 2
Photo: Matt Biddulph
Alice Sowerby + Steve Clark@SowerbyAlice + @ResourceSteve