1 Immersive: Business Model Canvas August 20&21
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Immersive: Business Model Canvas
August 20&21
Embodied Jewish Learning
7SEEDS
Session Outcomes • Get to know your UpStarter colleagues • Build knowledge base and experience using Business Model Canvas
(specifically VP & Customer Discovery) in order to accelerate organizaFonal or project launch process
• Increase comfort with the use of business language in the social sector
• Foster skills needed to meet “pain” and “gain” points of customers and further develop the organizaFon’s Value ProposiFon
• Strengthen ability to explain relaFonship (product market fit) between value proposiFon and customer segments
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Business Model Canvas
Agenda: Day Two 9:00 – 9:30am Breakfast and Welcome 9:30 – 9:50am Jewish Learning and Icebreaker 9:50 – 10:00am ObjecFves for the Day 10:00 – 12:30pm Customer Discovery 12:30 – 1:00pm Lunch 1:00 – 2:00pm Product Market Fit, Developing the Pitch 2:00 – 3:00pm Delivery, PracFce and Refinement of the Pitch 3:00 – 3:30pm Develop AcFon Plan 3:30 Wrap Up, Shared Learnings, Up Coming UpStarter Programs 4:00pm Adjourn
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Alexander Osterwalder. Businessmodelalchemist.com 5
Review of how BMC can help develop FIT?
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Fill Out Our VP Canvas with AssumpEons
Alexander Osterwalder. Businessmodelalchemist.com
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Test AssumpEons
Alexander Osterwalder. Businessmodelalchemist.com
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Adjust Customer AssumpEons Based on Insights
Alexander Osterwalder. Businessmodelalchemist.com
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Redesign VP Based on Insights
Alexander Osterwalder. Businessmodelalchemist.com
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Define Product Market Fit
Customer Segment Exercise (about 40 minutes)
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Customer, user & investor idenEficaEon
The goal in this session is (1) to idenFfy the pain and gain points of your organizaFon’s customer segments and (2) idenFfy the pain relievers and gain creators your organizaFon can deliver for your customer segments. 1. IdenEfy your customer segments from your BMC and choose two high-‐value customer segments. (30 min) a. Using the Value ProposiFon Canvas create a detail descripFon of the acributes of each customer, user, or investor. Write and sFcky note your answers to the quesFons on the VP canvas. What is the day in the life of this person? What is she or he thinking about, feeling, doing? b. On a piece of flip chart paper create you customer, user or investor archetype. Give her or him a name. Draw your archetype with acributes, help us visualize and understand who this person is. In some cases 2. Present archetypes of customer segment back to the group. (1 Min per group)
Group work (about 60 minutes)
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Customer Discovery Interviews The purpose of customer interviews is to “test” the value of your product. This will provide the data needed to understand if your VP is serving a Customer Segment or if you need to “pivot.”
Round Robin Interview of Advisors (4-‐5 interviews) to test hypothesis. Structure: One team member interviews and one member takes notes so that you can debrief the experience later.
PreparaEon: Develop list of interview quesFons that test your hypothesis and are open-‐ended/indirect. (5 minutes)
Interviews. (5-‐10 minutes per customer / 45 minutes total)
Refinement: Make changes to Value ProposiFon or Customer Segment based on interview findings on VP Canvas. (10 min)
What did we learn? .
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Lunch
conversionxl.com/value-‐proposiFon-‐examples-‐how-‐to-‐create
Your value proposiFon is the first, and ojen the only, opportunity you have to make an impression on a prospecFve customer, user, or investor.
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What is a Value ProposiEon?
VP refinement & delivery (about 30 minutes)
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Value ProposiEon Cra\ing & Refinement
The goal in this session is to craj and refine your Value ProposiFon statement to level that you would feel good sharing it at a social event with a potenFal customer, user, investor (e.g., cocktail party). Write a Value ProposiEon statement for a customer segment. (30 min) A value proposiFon is a promise of value to be delivered. It’s the primary reason a prospect should chose you. In a nutshell, value proposiFon is a clear statement that explains how your product solves customers’ problems or improves their situaFon (relevancy), delivers specific benefits (quanFfied value), tells the ideal customer why they should buy from you and not from the compeFFon (unique differenFaFon). See Value Proposi5on Template for example format. See Value Proposi5on handout.
torgronsund.com/2011/11/29/7-‐proven-‐templates-‐for-‐creaFng-‐value-‐proposiFons-‐that-‐work/
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Value ProposiEon Template Geoff Moore in Crossing the Chasm suggests a specific template for creaFng your value posiFoning. In addiFon to the first part below, Moore also introduces a second statement focused on compeFFve posiFoning. Template For ____________ (target customer) who ____________ (statement of the need or opportunity) our (product/service name) is ____________ (product category) that (statement of benefit) ____________ . Sample For non-‐technical marketers who struggle to find return on investment in social media our product is a web-‐based analyFcs sojware that translates engagement metrics into acFonable revenue metrics. IDEO (pronounced “eye-‐dee-‐oh”) is an award-‐winning global design firm that takes a human-‐centered, design-‐based approach to helping organizaFons in the public and private sectors innovate and grow.
Group Work (about 20 min)
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VP “fit” and Customer Segment
ExplanaEon of Value ProposiEon and Customer Segment fit.
Develop and PracFce pitch of product market “fit” (15 min). Structure: Work with advisor to develop a short presentaFon (2 minutes and if you feel creaFve you can act it, draw or animate it in some way—or just explain it) that details out:
1. What is your value proposiFon 2. Who is your customer 3. What is the “fit” and why will it be effecFve
PracFce Pitch/ExplanaFon of VP, Cusomer and Fit (5 min)
What did we learn?
Pitch of VP Customer Fit (about 50 minutes)
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Value ProposiEon statement
The goal in this session is to gain confidence and pracFce in making your Value ProposiFon statement publicly. Each organizaFon will present their Value ProposiFon Customer Segment Fit to the group/advisors. Opportunity for feedback and clarifying quesFons.
Pitch ExplanaEon of Value ProposiEon and Customer Segment fit.
Pitch of product market “fit” (5-‐10 min each) 1. What is your value proposiFon 2. Who is your customer 3. What is the “fit” and why will it be effecFve
Panel Feedback Share learning
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Break
Group Work (about 30 minutes)
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Develop AcEon Plan
This is an opportunity to work with your advisor on developing a 90 day acFon plan. Based on this introducFon to the Business Model Canvas what will you prioriFze to accelerate the growth of your organizaFon. Develop 3-‐5 goals, metrics of success, 5meline for achieving it. Share with group.
Wrap Up 9:00 – 9:30am Breakfast and Welcome 9:30 – 9:50am Jewish Learning and Icebreaker 9:50 – 10:00am ObjecFves for the Day 10:00 – 10:45am Customer IdenFficaFon 10:45 – 12:00pm Customer Interviews 12:00 – 1:00pm Lunch 1:00 – 2:30 Value ProposiFon crajing, refinement and delivery 2:30 – 3:00 BMC Update 3:00 – 3:30pm Develop AcFon Plan 3:30-‐4:00pm Wrap Up, shared learnings, up coming UpStarter programs 4:00pm Adjourn
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Parking Lot
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END DAY TWO
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