Homework after Lecture 4
What is your distribution channel? Are there alternatives?
Draw the channel diagram - Annotate it with the channel economics
What were your hypotheses about who/what your channel would be?
Did you learn anything different?
What was it that made channel partners interested? excited?
Did anything change about Value Proposition or Customer segment?
Check out the Distribution Channels slide deck
Update your business model canvas with changes
Talk to at least 10 potential customers and channel partners (Salesmen, OEM’s distributors, etc.)
Optional: Use the LaunchPad Central software and post your discovery narratives
Lesson 6: Customer Relations How do you get, keep and grow customers? Лекция 5 (для студентов)
Видео: https://www.udacity.com/course/viewer#!/c-ep245/l-48726356/m-48271951
Подстрочник: https://www.udacity.com/wiki/ep245/lecture_5
Ключевые слова:
Canvas: Customer Relationships
customer archetypes, customer discovery
customer acquisition cost (CAC), lifetime value of a customer (LTV)
get, keep, grow customers
viral loop
web vs. physical
| Optional Reading
Startup Owners Manual
In The Startup Owner's Manual for Web/Mobile Channel Startups and The Startup Manual for Physical Channel Startups:
Chapter 3: Customer Discovery, Phase One: State Your Business Model Hypotheses, Section on Revenue and Pricing Hypothesis
Chapter 6: Customer Discovery, Phase Four: Verify the Business Model and Pivot or Proceed, Sections on Product/Market Fit; Customers and How to Reach Them; and Can We Make Money?
Chapter 11: Customer Validation Phase Four: The Toughest Question of All: Pivot of Proceed, Section on Metrics That Matter
Homework after Lecture 5
Build demand creation budget and forecast
Create objective pass/fail metrics for each “Get” test/methodology
What is your customer acquisition cost?
What is your customer lifetime value?
Did anything change about Value Proposition, Customers/Users, Channel?
Check out the slide deck on Customer Relationships
Update your business model canvas with changes
Talk to at least 10 potential customers and channel partners (Salesmen, OEM’s distributors, etc.)
Optional: Use the LaunchPad Central software and post your discovery narratives
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Lesson 7: Revenue Models How do you make your money? Лекция 6 (для студентов)
Видео: https://www.udacity.com/course/viewer#!/c-ep245/l-48730232/m-48714323
Подстрочник: https://www.udacity.com/wiki/ep245/lecture_6
Ключевые слова:
Canvas: Revenue Streams
revenue streams and price
direct and ancillary models
asset sale, usage fee, subscription fee, renting, licensing, intermediation fee, advertising
Types of pricing: fixed (cost + mark-up, value-priced, volume-priced) and dynamic pricing (negotiation, yield management, real-time markets, auctions)
pricing and revenue forecast on different market types (new market, existing market, resegmented market.)
multi-sided market
| Optional Reading
Startup Owners Manual
pages 176-179 (partners)
pages 257-270
pages 429-459
In The Startup Owner's Manual for Web/Mobile Channel Startups and The Startup Manual for Physical Channel Startups:
Chapter 3: Customer Discovery, Phase One: State Your Business Model Hypotheses, Section on Partners
Chapter 6: Customer Discovery, Phase Four: Verify the Business Model an Pivot or Proceed, Overview, plus sections on Product/Market Fit; Customers and How to Reach Them; Can We Make Money?; Pivot or Proceed
Chapter 11: Customer Discovery, Phase Four: The Toughest Question of All: Pivot or Proceed? Sections on Assemble Data; Validate Business Model; Validate Financial Model
Homework after Lecture 6
Test pricing in front of 100 customers on the web, 10-15 customers non-web
What’s the revenue model strategy?
What are the pricing tactics?
Draw the diagram of payment flows (Example)
What are the metrics that matter for your business model?
Did anything change about Value Proposition, Customers/Users, Channel, Customer Relations?
Check out the slide deck on Revenue Models
Update your business model canvas with changes
Talk to at least 10 potential customers
Optional: Use the LaunchPad Central software and post your discovery narratives
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Lesson 8: Partners Who are your partners and suppliers? Лекция 7 (для студентов)
Видео: https://www.udacity.com/course/viewer#!/c-ep245/l-48673791/m-48682603
Подстрочник: https://www.udacity.com/wiki/ep245/lecture_7
Ключевые слова:
Canvas: Key Partners
types of partners: strategic alliances, joint ventures, traffic partners, coopetition, suppliers, joint business development
partners for existing markets vs partners for new markets
why partner, what is in it for you and the partners,cost of partnership
Big partners vs a small start-up - why would this work
personal interest of key decision makers
partnering strategies
| Optional Reading
Startup Owners Manual
pages 169-175 (resources)
pages 180-188 (revenue and pricing)
In The Startup Owner's Manual for Web/Mobile Channel Startups and The Startup Manual for Physical Channel Startups:
Chapter 3: Customer Discovery, Phase One: State Your Business Model Hypotheses, Section on Key Resources
Chapter 3: Customer Discovery, Phase One: State Your Business Model Hypotheses, Section on Revenue and Pricing
Homework after Lecture 7
What partners will you need?
Why do you need them and what are risks?
Why will they partner with you?
What’s the cost of the partnership?
Draw the diagram of partner relationships with any dollar flows
Did anything change about Value Proposition or Customers/Users, Channel, Demand Creation or Revenue Streams?
What are the incentives and impediments for the partners?
Slide deck on Partners
Update your business model canvas with changes
Talk to at least 10 potential customers and partners
Optional: Use the LaunchPad Central software and post your discovery narratives
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Lesson 9: Resources, Activities and Costs What is most important for the business? Лекция 8 (для студентов)
Видео: https://www.udacity.com/course/viewer#!/c-ep245/l-48758017/m-48719304
Подстрочник: https://www.udacity.com/wiki/ep245/lecture_8
Ключевые слова:
Canvas: Resources, Activities, Costs
Resources:
physical (company facilities, office space, company location)
products/services (supplies, warehouses, relations with partners)
capital intensive goods
financial
friends, family, crowdfunding, angels,
venture capital, corporate partners, government financing
leasing (banks), factoring (confirmed purchase orders), vendor-financing (deferred payment or a loan from a vendor)
human
for founders: teachers (knowledge), coaches (skills), mentors (brains)
advisors (investors, external avisors)
qualified employees/culture
intellectual
trademark (branding - marks, logos, slogans)
copyright (creative work - software, films, music, websites)
trade secrets (secrets of value - private tech, contacts, formulae)
contract (contract-defined - technology, business info)
patent (inventions - new technology)
Costs
income statements, balance sheet - for existing companies
metrics that matter for startups:
value proposition metrics
customer relationships, conversion rates metrics
market type metrics
operating costs (fixed and variable costs)
channel costs
revenue streams
| Click here to take the post-class survey. Thank you! Work to do:
Make a lessons learned presentation
Post to the forums (best presentations posted on Steve's blog)
Prototype for investors/customers
Is entrepreneurship for you?
Take the next step... Incubator, Accelerator, Fundraising
Also check out:
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