LLP-AP workshop 2 – Nov 8th 2013

Agenda• 8-8.20 Intro and themes for the day• 8.20-11.20 (incl. break)

– Teams present on progress and plans• 11.20-11.50

– Key themes revisited • 11.50-12.00

– Next steps

1

Lean Launchpad Roadmap

Customer Discovery 1

Canvas:Value PropositionCustomer Segment

Get out of the bldg:Interviewing

Customer Discovery 2

Canvas:ChannelsCust Relationships

Themes:Cust Decision NetworkDay in the LifeCustomer EcosystemWhitespace GridTAM/SAM/SOM

CustomerValidation 1

Canvas:Cust Relationships(Get-Keep-Grow)Revenue ModelCost Structure

Themes:Finding PivotsMin Viable Product

CustomerValidation 2

Canvas:Revenue Redux

End Game

Interview objectives & scriptInterviews“Day in the Life”Validate/Pivot/Stop

InterviewsCust decision networkCust EcosystemWhitespace GridTAM/SAM/SOM

InterviewsMin. viable productSales roadmapTest selling

Session 1 Session 2 Session 3 Session 4

Themes: workshop 2

– Customer Decision networks (CD moving towards Validation)

– A day in the life of your customer (Customer Discovery-CD)

– Customer Ecosystem (Channels & Customer Relationships) – customer validation –CV

– Competitors vs features and benefits grid: white space - CV

– Market size: TAM/SAM/SOM (CV)

BREAK SLIDE

Customer Decision networks

• Can you identify the multiple players in the customer decision network?

• Their roles?• And how they inter-connect?

“Service/Product” Journey

• “Who Is Your Customer or Customers?”– :idea: Sketch Your Product and the People it

“touches” through it’s usage.

• Often it is difficult to determine who is your customer. The service journey gives you a “top level” insight.

6

7:Service Journey V0.1:

ACOGACS

Doctor specialty

committee

Hospital Administrati

on

Technician

RadiologistMammography

MammOpticsCustomer Workflow

Current market Insurance

ACOGACS

Doctor specialty

committee

Hospital Administrati

on

Technician

RadiologistMammography

MammOpticsCustomer Workflow

Current market

But what would happen if we replace mammography?

Insurance

ACOGACS

Doctor specialty

committee

Hospital Administrati

on

Technician

Radiologist

Mammography

MammOpticsCustomer Workflow

Breast Radiologists

Technicians Hospitals

Loss of jobs

Loss of jobs Eliminates loss leaderPuts emphasis on

biopsies

Insurance

ACOGACS

Doctor specialty

committee

Hospital Administrati

on

Technician

Radiologist

Mammography

MammOpticsCustomer Workflow

InsuranceSame cost as mammography

($140)Reduced number of biopsies

($1000)

ACOG/ACSImproved healthcare(mammography weak

technique)

Insurance

MammOpticsHospital purchasing decision tree

A day in the life of your customer(think user)

• Once you’ve focused in on who your customer really is, can you describe (and sketch) a day in their life? In detail?

• What do they do? How do they do it?• What are their pains?• And potential gains?• What would change if your product/service

was adopted?

See sketch on wine and water stress tool

Customer Ecosystem (A start on channels and customer relationships)

• How are you going to get to your customer?• Information• Access• Physical vs. web/mobile• Map the ecosystem for

– Marketing– Sales– Distribution

• Thinking about Get, Keep, Grow

Market Adoptio

n

Key Opinion Leaders (KOLs)

Medical Journals

Continuing Medical

Education

Conferences

Breast Cancer Advocacy Groups

American College of

Obstetricians and

Gynecologists (ACOG)

MammOpticsMarketing

A draft marketing and sales ecosystemAdd their roles and connections

Customer Relationship: Get–keep-grow

S. Blank, B. Dorf – The Startup Owner’s Manual, 2012

Competitors vs. features and benefits grid: white space

MammOpticsTechnology Comparison

RiskInvasiveness

Resolution

False Pos.

False Neg.

Device Cost

Time Require

d

MammOptics

Mammography

High High .6 cm 25% 30% 20-50k 20 min.

MRI Medium Medium .1 cm 70% 5% 1000k 45 min.

Ultra-Sound Very Low Very Low >.6 cm >30% >40% 5-15k 20 min.

Finding white space:from tech functions to customer benefits

feature feature feature feature

(benefit) (benefit) (benefit) (benefit)

US

Comp 1

Comp 2

Comp 3

Sub 1

Sub 2

Sub 3

etc

Tip 1: include substitutes as well as competitorsTip 2: think about the customer job to be done: pains removed, utility gains madeTips 3: Features are reasons to believe benefit claims

Market size: TAM/SAM/SOM

• TAM• SAM• SOM

Market/Opportunity Analysis

How Big is It?: Market/Opportunity Analysis– Identify a Customer and Market Need– Size the Market– Competitors– Growth Potential

How Big is the Pie?Total Available Market

Total Available MarketTAM

• How many people would want/need

the product?

• How large is the market be (in $’s) if they all bought?

• How many units would that be?

How Do I Find Out?

• Industry Analysts – Gartner, Forrester

• Wall Street Analysts – Goldman, Morgan

How Big is My Slice?Served Available Market

• How many people need/can use product?

• How many people have the money to buy the product

• How large would the market be (in $’s) if they all bought?

• How many units would that be?

How Do I Find Out?• Talk to potential customers

Served Available

MarketSAM

TotalAvailableMarket

How Much Can I Eat?Target Market

• Who am I going to sell to in year 1, 2 & 3?

• How many customers is that?

• How large is the market be (in $’s) if they all bought?

• How many units would that be?

How Do I Find Out?• Talk to potential customers

• Identify and talk to channel partners

• Identify and talk to competitors

TotalAvailableMarket Target

MarketSOM

ServedAvailableMarket

Themes: workshop 2details in readings and videos

– Customer Decision networks (CD moving towards Validation)

– A day in the life of your customer (Customer Discovery-CD)

– Customer Ecosystem (Channels) – customer validation –CV

– Competitors vs features and benefits grid: white space - CV

– Market size: TAM/SAM/SOM (CV)

27

Customer Discovery: Exit Criteria

• What are our customers top problems? – How much will they pay to solve them

• Does our product concept solve them? – Do customers agree? – How much will they pay

• Can we draw a day-in-the-life of a customer – before & after your product

• Can we draw the org chart of users & buyers

Lean Launchpad Roadmap

Customer Discovery 1

Canvas:Value PropositionCustomer Segment

Get out of the bldg:Interviewing

Customer Discovery 2

Canvas:ChannelsCust Relationships

Themes:Cust Decision NetworkDay in the LifeCustomer EcosystemWhitespace GridTAM/SAM/SOM

CustomerValidation 1

Canvas:Cust Relationships(Get-Keep-Grow)Revenue ModelCost Structure

Themes:Finding PivotsMin Viable Product

CustomerValidation 2

Canvas:Revenue Redux

End Game

Interview objectives & scriptInterviews“Day in the Life”Validate/Pivot/Stop

InterviewsCust decision networkCust EcosystemWhitespace GridTAM/SAM/SOM

InterviewsMin. viable productSales roadmapTest selling

Session 1 Session 2 Session 3 Session 4

Next steps

• Repeat customer discovery: validate, pivot, stop• TAM/SAM/SOM• Product/Competitor grid: specify MVP• *Channels• *Customer Relationships: get, keep, grow• *Revenue Streams• *Cost structure• Moving towards customer validation• V3 canvas and improved b-model