Ep 3 – Prototyping your Business Model

Avoid falling in love with your first idea, and learn how to prototype multiple business model options.

Ep 3 – Prototyping

  • Make a Story how your business will create, deliver, capture value
    • Start with value Proposition
    • Decide Who do you sell it to
    • How do you get it to them
    • How this will generate  revenue
    • Key resources you need to offer your product/service
  • Summary
    • Focus on your Business Model not your product or technology
    • Don’t fall in love with your first Business Model -> Predictable Business Model can work but rarely give you a competitive advantage. Think harder, explore alternatives. Find a disruptive Business Model e.g. Nespresso, Skype -> freemium model. Look at other places for ideas in other industries.
    • Iterate rapidly & test your model rapidly!

Watch the whole series here : What is your Business model

Bounce Lean Canvas

Bounce Lean Canvas Rev. 1 – Customer Development Labs

Demonstration by Justin Wilcox of the Lean Canvas/ Nine blocks

Steve Blank: Why You Must Test Your Hypotheses

Steve Blank introduction to his customer development process & Why You Must Test Your Hypotheses!

  • Break down your vision into a Business Model canvas and get out of the building in a formal way using the customer development methodology to test all your hypothesis.
  • When wrong then iterate (minor changes) or pivot (change of one or more of the BM components) until you converge on a repeatable, scalable business model

Why You Must Test Your Hypotheses

Hypothesis testing

Are Business Plans Really Dead?

…. Use Alex Osterwalder’s fabulous, simple business model canvas to identify and write down your fantasies and guesses about what the repeatable, scalable, profitable business might look like. And use the two months you save by not writing a business plan to « get out of the building » and replace your guesses with real facts based on feedback from real customers… ->

https://www.linkedin.com/today/post/article/20131030145223-7979133-are-business-plans-really-dead?utm_content=buffer59e5e&utm_source=buffer&utm_medium=twitter&utm_campaign=Buffer&_mSplash=1

« @Leanpreneur: Are Business Plan really dead? http://t.co/omlLhCmabY by @bobdorf #custdev » #sgblank Startup owner manual
(https://twitter.com/YanThoinet/status/396255629477969920)

BusinessPlan