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Lean Lessons Learned Blossom’s early mistakes and successes in light of the Lean Startup methodology

Lean lessons learned - lean startup methodology and lessons learned from Blossom

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  • Lean Lessons LearnedBlossoms early mistakes and successes

    in light of the Lean Startup methodology

  • Lean Startup?

  • Why do startups fail?

  • What is a startup?

    A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

  • Leap of Faith Assumptions

    Value HypothesisHow to provide value someone will pay for

    Growth HypothesisHow to increase the

    number of people paying

  • Is your hypothesis valid?

  • Validate / invalidate hypothesis

    validated learning

  • Blossom: Data V0Value Hypothesis Have you needed financing? How did/would you get

    financing / existing options? Need/want halal source of

    financing in future? Heres our concept; would

    you use it?

  • Blossom: Ideas V1Value Hypothesis Provide well-established*

    Muslim-owned businesses with access to halal sources of financing

    Provide investors with 12% average annual return on capital.

    Growth HypothesisLower the cost of customer acquisition by spreading word-of-mouth awareness through musajid and MCAs and highly-targeted online advertising.

  • Implicit Assumptions

    American Muslims care about avoiding reba

    Established Muslim businesses in US need access to financing

    12% annual return is good enough for investors on unsecured loan

    Legal costs Regulatory compliance Fee structure Cost of operating

  • Implicit Assumptions

    American Muslims care about avoiding reba

    Established Muslim businesses in US need access to financing

    12% annual return is good enough for investors on unsecured loan

    Legal costs Regulatory compliance Fee structure Cost of operating

  • Blossom: Product V1Value Hypothesis Website registration Connect bank account Get a quote Say yes

    Growth Hypothesis Direct: leave postcards at

    local musajid In-person: give a talk /

    khalaqa at local masjid Online: Google & Facebook

    paid advertising

  • Blossom: Data V1Value Hypothesis Website registration"

    low traffic to website; bulk inbound via phone

    Connect bank account" low technical savvy

    Get a quote" #1 most used feature! J

    Say yes" slow to agree/sign

    Growth Hypothesis Direct: leave postcards at

    local musajid" soft interest

    In-person: give a talk / khalaqa at local masjid" lack of education/demand

    Online: Google & Facebook paid advertising " expensive

  • Blossom: Data V1

    $150,000 USDprojected legal fees

  • Pivot or Persevere

  • 220 Million 5 Million

    Market Opportunity

  • Blossom: Data V2

    Financial literacyFinancial access

    80% population unbanked; financial illiteracy drives

    cyclical poverty;

    Huge demand for microfinance limited by

    amount of capital

    Rp!

  • Blossom: Ideas V2Value Hypothesis Provide capital and

    technology to micro finance institutions for 6-12% profit sharing

    Provide international investors halal investment opportunities for social uplift at 4-10% returns

    Growth Hypothesis1. Grow initial awareness

    through bitcoin early adopter community

    2. Build buzz of press around first transparent BTC investment platform

    3. Online ads CPA > CAC

  • Blossom: Ideas V2Value Hypothesis Provide capital and

    technology to micro finance institutions for 6-12% profit sharing

    Provide international investors halal investment opportunities for social uplift at 4-10% returns

    Growth Hypothesis1. Grow initial awareness

    through bitcoin early adopter community

    2. Build buzz of press around first transparent BTC investment platform

    3. Online ads CPA > CAC

  • Blossom: Product V2Value Hypothesis Make pilot investment into

    Indonesian microfinance institution (MFI)

    Build MVP to move money into / profit from MFI using bitcoin public ledger

    Growth Hypothesis Solicit investment from

    bitcoin early adopters via our existing network

  • TBD"(in sha Allah)

  • Contact: [email protected]

    Profitable Social UpliftTransparent. Efficient. Impactful.