master slides for 1st bmc training workshop 2013-10-15

7/27/2019 Master Slides for 1st BMC Training Workshop 2013-10-15

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Calendar

What is the BMC?

Technium (Paul Ahlstrom)

Ideation (Nile Hatch) Getting Started (Scott Petersen)

Resources/Conclusion


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Training Workshops

Oct 15th

Nov 5th

Dec 3rd

Jan 14th (Submission Focused)


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no business plan survives first contact with a

customer. Steve Blank

A startup exists to search for an

unknown but viable business

model, not to develop a knownproduct

Startups need to focus on

customer development first


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Scale Idea

Launch Model


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no business plan survives first contact with a

customer. Steve Blank

A startup exists to search for an

unknown but viable business

model, not to develop a knownproduct

Startups need to focus on

customer development first


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Business model describes how your company

creates, delivers, and captures value

A business plan is static

A business model is dynamic

The facts are out in the real world with real

customers, not in your office building Business modelfirst, then business plan


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A competition that rewards

entrepreneurs who get out of

the building and validatewith customers!


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Breaking down ideas into hypotheses/

assumptions Getting outside the building to test

assumptions with customers

Applying customer development & leanstartup principles to nail the solution

Learning to pivot until you arrive at a

customer-validated business model


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Identify a pain

Paul Ahlstrom Nile Hatch

Validate your

assumptions Scott Petersen Pivot and Repeat

Scott Petersen


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Technium+

IBMC

Select IP Validate Market Win!


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What is Technium? Direct access to federally funded IP for your startup. Platform for advanced tech startups in software, energy, biotech, etc.


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Think Bigger

2012

Reserve parkingahead of time

2013

Saving >2500 infant livesfrom SIDS (Sudden Infant

Death Sydrome)

2014

Work on a problem worthsolving with

groundbreakingtechnology

Impact:


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Benefits: $10,000 cash bonus Startups with university IP has a 3x greater

chance of survival

o 35% failure rate vs. 90% failure rate

o Stronger IP - Avg. $3M R&D per invention

Some technologies come with additional perks

Apply business model validation skills to big, hardproblems with cutting edge technology.


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Timeline

Brainstorm

Ideas

TrainingSessions

Validate the businessmodel

Win thebusiness model

competition!

License thetechnology

Change theworld

Oct Nov Jan Mar May

Reserve

Technology

Submissions

Open

SubmissionsClose


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Beyond Beta Network with other teams

Share your market insights

Chat with world-class scientists & experienced mentors Post progress and funding requests Connect to resources and NISI content


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Get Out Of The Building!


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How to find a great

idea for fun and profitBMC Training Workshop

October 15, 2013

Nile HatchBrigham Young University

2005 2013


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The way to getgood ideas is to

get lots of ideasand throw thebad ideas

away.Linus Pauling, 1979


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Ideas are like feet


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What makes a good

(non-stinky) idea? Serving customers with real and enduring

pain

Delivering a solution that really solves theirpain

Delivering the solution through the properchannel

Delivering the solution in a market you can

enter and compete


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Start with pain


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What is pain?Any problem orunmet need thatcustomers will

spend their time or

money to solve


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What is the pain, really?

What is the problem to be solved?

What are the current solutions? Whatare the workarounds?

What is the residual pain?

Who has it? Why do they have it?

Can you recognize them?


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What is the pain really?

You have been suffering from gastro-intestinal pain

Your doctor diagnoses celiacs disease

What is your pain, really?

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How do you findpain?


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Dont start by asking

We have a difficult time articulating

what causes us pain We are accustomed to living with pain

We often consider our workarounds to

be evidence of success rather thanpain


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ObservationEmpathyIdeo

Observation and

Empathy


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Build yourbugs list

Michalko

What bugs you?


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Ways to Engage

Conversation


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Ways to Engage

RolePlaying


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Ways to Engage

Shadowing

Been following me around allday. I think its the new intern


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Ways to Engage

Prototypes


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Consider

the caseof Gillette

in India


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Great ideas start with pain

There is no solution so good that

customers will buy it if they dont wantit

Customers with real, enduring pain willpay you to relieve it for them

Find it by observing, hypothesizing,and then asking customers


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Go find some

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to solve.


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MODELBuild MVP

0 No Money

Until Here

Model

Test

Learn

Pivot

Iterate

PricingRevenue streams

Market channels

Customer segments

Go-To-Market strategies

Collective Wisdom

________ ________

________ ________

________ ________

________ ________

________ ________

________

________

Hypotheses Sell G-T-M________ ________

________ ________

________ ________

________ ________

________ ________

Elevator Pitch

Holes = Gaps in service, opportunities, differentiators

Validate Validate


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Business Model Canvas

Who are we creating

value for?

Large Customers

Med. Sized Customers

Small Customers

Private Branded (OEM)

Big Box StoresSpecialty Shops

In what ways are you

unique? Can you

quantify the economic

upside, in $$, of your

solution(s)?

Identify each unique

feature, application,& opportunity.

Define holes /problems/

pain points in current

Solutions.

Identify the market

channels through which

Your products/services

can be marketed to:

Direct sales force, web

sales, wholesalers,

distributors, etc.

How do you acquire,

Serve, and retain

customers?

User communities,

automated services,

self service, customer

Reps, etc.

How do you derive revenue? How do you price your product or

services?

Product sales, user fees, subscription fees, licensing, advertising, etc.

What key resources

will you need to execute

Your business?

Physical = buildings, vehicles,

Machines, etc.

Intellectual = patents,

trademarks

Human = employeesFinancial = $$

What are your key activities?

Designing, producing, coding,

problem solving, platforms,

supply chain management,

sales, etc.

Who are your key

partners?

Manufacturers,

suppliers, distributors,

channel partners,

strategic alliances,

outsourcing, etc.

What are your cost structures, cap-ex expenses, and projected

operating expenses?


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Website - businessmodelcompetition.com

Resources videos, book summaries, workshops, best practices, judging

criteria, rules.

Local Competition Contact the competition you are near (map available)


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Training Workshops

Oct 15th

Nov 5th

Dec 3rd Jan 14th (Submission Focused)


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BYU Clubs

NVC Leadership

Team Venture

Mentoring

Workshops

Rollins Center Cougar Co-

Founders


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NVC BMC Deadline - Jan 24th 2014

NVC BMC Final - Feb 7th 2014

master slides for 1st bmc training workshop 2013-10-15

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