Value Proposition Strategies and Customer Discovery for Lean Launch Pad Week 2
Explore value proposition creation and customer discovery for Lean Launch Pad Week 2. Learn to define products/services, target customers, and conduct experiments to validate hypotheses. Gain insights from talking to potential customers and refine your MVP for success.
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Lean Launch Pad prep for Week 2 : Value Proposition Tues 2/10 & Wed 2/11/15
Value Proposition What product and service are you building? For whom? Who are your customers? What problem or need are you solving for the customers? Answers are all hypotheses. What experiments will you design/carry out to verify these hypotheses? What Minimum Viable Product (MVP) will you offer to your first customers? What will build/use in your hypothesis testing? Title of Presentation
http://www.businessmodelgeneration.com/downloads/value_proposition_canvas.pdfhttp://www.businessmodelgeneration.com/downloads/value_proposition_canvas.pdf Title of Presentation
Customer Discovery Leave campus: go talk to at least 10 potential customers (target 15) to gain insights and generate findings about your VP. Watch customer discovery Checklist: http://startupweekend.wistia.com/projects/ zt618zz0r7 Watch: How to do Customer Discovery: http://startupweekend.wistia.com/projects/ 8ss0rm03pj
Preparing for Week 2: Value Proposition Watch Course video lesson 2: Value Proposition BMG pp. 77-107: Multisided & Freemium Markets BMG pp. 127 133: Customer Insights Read Osterwalder Value Proposition Canvas at: http://businessmodelalchemist.com/blog/2012/08/achieve-product- market-fit-with-our-brand-new-value-proposition-designer.html http://businessmodelalchemist.com/blog/2012/09/test-your-value- proposition-supercharge-lean-startup-and-custdev-principles.html SOM pp. 76-84: Value Proposition & MVP SOM pp. 189 - 202: Getting out of the building/Experiments/Contacts SOM pp. 474: Product Features Checklist SOM pp. 487: Contacts Checklist Watch Mark Pincus at http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2313 Watch Course Video Lesson 3: Customer Segments (day before next class) Title of Presentation
Week 2: Customer Segments 15 minute Q and A on readings/concepts Teams present their updated business model to the class: (8-10 mins) Slide 1: Title Slide. Tally # Interviews so far. Slide 2: Business Model Canvas, with changes highlighted in red. Slide 3: Value Proposition Canvas http://www.businessmodelgeneration.com/downloads/value_propo sition_canvas.pdf What are your products/services, Pain Relievers, Gain Creators What s the MVP you ll test? Slide 4: What were your experiments to test Value Proposition? Slide 5-n: What did you learn about your Value Proposition from talking to your first customers? Hypothesis: Here s what we thought. Experiments: Here s what we did. Results: Here s what we found. Action: Here s what we re going to do next. Title of Presentation Title of Presentation
