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Six Ways to Fail at a Startup,[object Object],Steve Blank,[object Object],www.steveblank.com,[object Object],Twitter: @sgblank,[object Object]
Six Ways to Fail at a StartupAnd How to Get it Right,[object Object],Steve Blank,[object Object],www.steveblank.com,[object Object],Twitter: @sgblank,[object Object]
This Talk is Based On,[object Object],Business Model Generation,[object Object],Four Steps to the Epiphany,[object Object],Lean Startup,[object Object]
I Have a Vision,[object Object]
I Know What Needs to Be Done,[object Object]
Lets Start A Company!,[object Object]
Six Ways to Fail,[object Object]
#1I Know Who The Customer Is,[object Object]
#2I Know Exactly the Product They Need,[object Object]
#3I Know the Problem They Have,[object Object]
#4We Can Fix It After We Ship It All,[object Object]
#5,[object Object],All I Need to Do is Execute the Plan,[object Object]
#6,[object Object],Let’s Use Large Company Tools ,[object Object]
Product Introduction Model,[object Object],Concept/Seed Round,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object]
Product Introduction Model,[object Object],The Leading Cause of Startup Death,[object Object],Concept/Seed Round,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object]
Product Introduction Model:Two Implicit Assumptions,[object Object],Customer Problem: known,[object Object],Concept/Seed Round,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object],	Product Features: known,[object Object]
Tradition – Hire Marketing,[object Object],Concept/Seed Round,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object],- Create Demand,[object Object],- Launch Event,[object Object],- “Branding”,[object Object],- Hire PR Agency,[object Object],- Early Buzz,[object Object],[object Object],  Materials,[object Object],- Create Positioning,[object Object],Marketing,[object Object]
Tradition – Hire Sales,[object Object],Concept/Seed Round,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object],- Create Demand,[object Object],- Launch Event,[object Object],- “Branding”,[object Object],- Hire PR Agency,[object Object],- Early Buzz,[object Object],[object Object],  Materials,[object Object],- Create Positioning,[object Object],Marketing,[object Object],[object Object]
 Hire Sales VP
 Hire 1st  Sales StaffSales,[object Object]
Tradition – Hire Bus Development,[object Object],Concept,[object Object],Product Dev.,[object Object],Alpha/Beta Test,[object Object],Launch/,[object Object],1st Ship,[object Object],- Create Demand,[object Object],- Launch Event,[object Object],- “Branding”,[object Object],- Hire PR Agency,[object Object],- Early Buzz,[object Object],[object Object],  Materials,[object Object],- Create Positioning,[object Object],Marketing,[object Object],[object Object]
 Hire Sales VP
 Pick distribution   ChannelSales,[object Object],Business ,[object Object],Development,[object Object],[object Object]
 Do deals for FCS,[object Object]
 Hire Sales VP
 Pick distribution   ChannelSales,[object Object],Business ,[object Object],Development,[object Object],[object Object]
 Do deals for FCSEngineering,[object Object],[object Object]
 Waterfall
 Q/A
Tech Pubs,[object Object]
A Startup is a temporary organization,[object Object]
A Startup is a temporary organization designed to search,[object Object]
A Startup is a temporary organization designed to search for a repeatable and scalable business model,[object Object]
Startups need their own tools, different from those used in existing companies,[object Object]
Startups need their own tools, different from those used in existing companies,[object Object]
Startups Are Not Smaller Versions of Large Companies,[object Object],Large Companies Execute Known Business Models,[object Object]
Startups Are Not Smaller Versions of Large Companies,[object Object],Startups Search for Unknown Business Models,[object Object]
So Search for a Business Model,[object Object]
The Business Model:,[object Object],Any company can be described in 9 building blocks,[object Object]
CUSTOMER SEGMENTS,[object Object],which customers and users are you serving? ,[object Object],which jobs do they really want to get done?,[object Object]
VALUE PROPOSITIONS,[object Object],what are you offering them? what is that ,[object Object],getting done for them? do they care?,[object Object]
CHANNELS,[object Object],how does each customer segment want to be reached? through which interaction points?,[object Object]
CUSTOMER RELATIONSHIPS,[object Object],what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?,[object Object]
REVENUE STREAMS,[object Object],what are customers really willing to pay for? how? ,[object Object],are you generating transactional or recurring revenues?,[object Object]
KEY RESOURCES,[object Object],which resources underpin your business model? which assets are essential?,[object Object]
KEY ACTIVITIES,[object Object],which activities do you need to perform well in your business model? what is crucial?,[object Object],37,[object Object]
KEY PARTNERS,[object Object],which partners and suppliers leverage your model? ,[object Object],who do you need to rely on?,[object Object]
COST STRUCTURE,[object Object],what is the resulting cost structure? ,[object Object],which key elements drive your costs?,[object Object]
value proposition,[object Object],customer relationships,[object Object],key activities,[object Object],customer segments,[object Object],key partners,[object Object],cost structure,[object Object],revenue streams,[object Object],key ,[object Object],resources,[object Object],channels,[object Object],40,[object Object],images by JAM,[object Object]
sketch out your business model,[object Object]
But,Realize They’re Hypotheses,[object Object]
But,Realize They’re HypothesesGuesses,[object Object]
9 Guesses,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object],Guess,[object Object]
How Do Startups Search For A Business Model?,[object Object]
There are no facts inside your building,[object Object]
There are no facts inside your building,[object Object],So Get Outside,[object Object]
Customer Development = process to searchBusiness Model Canvas is the ScorecardAgile Engineering is How We Build Startups,[object Object]
Customer Development =process to searchBusiness Model Canvas =the ScorecardAgile Engineering is How We Build Startups,[object Object],[object Object]
Demo, demo, and demo!!
Proximity is paramount
Technology Design
Marketing
Demo and customer feedback
Research Labs
Equipment Manufacturers
Distribution Network
Service Providers
Cost Reduction
Remove labor force pains
Eliminate bio-waste hazards
Organic Farmers
Weeding Service Providers
Conventional Farmers
IP – Patents
Video Classifier Files
Robust Technology
Dealers
Direct Service
Indirect Service
 … then Dealers
Asset Sale
Direct Service with equipment rental
… then Asset SaleValue-Driven,[object Object]
Customer Development is the process used to searchBusiness Model Canvas is the ScorecardAgile Development is How We Build Startups,[object Object]
Customer Development,[object Object],The founders,[object Object],^,[object Object],Get Out of the Building,[object Object]
Customer DevelopmentThe Search For the Business Model,[object Object],Company,[object Object],Building,[object Object],CustomerDiscovery,[object Object],CustomerValidation,[object Object],Customer Creation,[object Object],Pivot,[object Object]
Customer Discovery,[object Object],CustomerDiscovery,[object Object],CustomerValidation,[object Object],Company,[object Object],Building,[object Object],CustomerCreation,[object Object],Stop selling, start listening,[object Object],Test your hypotheses,[object Object],Continuous Discovery,[object Object],Done by founders,[object Object]
Test Hypotheses:,[object Object],[object Object]
 Market Type
 CompetitionTurning Hypotheses to Facts,[object Object]
Test Hypotheses:,[object Object],[object Object]
 Customer
 User
 Payer,[object Object],[object Object]
 Customer
 User
 PayerTest Hypotheses:,[object Object],[object Object]
 Market Type
 CompetitiveTest Hypotheses:,[object Object],[object Object]
 (Customer)
 (Problem)Test Hypotheses:,[object Object],[object Object],Test Hypotheses:,[object Object],[object Object],Test Hypotheses:,[object Object],[object Object]
 Validate Business Model,[object Object]
 Customer
 User
 PayerAgile Development,[object Object],Test Hypotheses:,[object Object],[object Object]
 Market Type
 CompetitiveTest Hypotheses:,[object Object],[object Object]
 (Customer)
 (Problem)Customer Development Team,[object Object],Test Hypotheses:,[object Object],[object Object],Test Hypotheses:,[object Object],[object Object],Test Hypotheses:,[object Object],[object Object]
 Validate Business Model,[object Object],[object Object]
Iteration without crisis
Fast, agile and opportunistic,[object Object]
How Does This Really Work?Lean LaunchPad Class,[object Object],8 Weeks From an Idea to a Business,[object Object]
Pivot ExampleRobotic Weeding,[object Object],Talked 75 Customers in 8 Weeks,[object Object]
Our initial plan,[object Object]
20 interviews, 6 site visits…We got OUR Boots dirty,[object Object],Weeding,[object Object],Visited farms in Salinas Valley to better understand problem,[object Object],Interviewed:,[object Object],[object Object]
White Farms, Large Peanut farmer in Georgia
REFCO Farms, large grower in Salinas Valley
Rincon Farms, large grower in Salinas Valley
Small Organic Corn/Soy grower in Nebraska
Heirloom Organics, small owner/operator, Santa Cruz Mts
Two small organic farmers at farmers market
Ag Services of Salinas, Fertilizer applicatorMowing,[object Object],Interviewed:,[object Object],[object Object]
Parks: Stanford Grounds Supervisor, head of maintenance and lead operator (has crew of 6)
Toro dealer (large mower manufacturer)
User of back-yard mowing system
Maintenance Services for City of Los Altos
Colony Landscaping (Mowing service for stadiums),[object Object]
Autonomous vehiclesWEEDING,[object Object],Dealers sell, installs and supports customer,[object Object],Co. trains dealers, supports dealers,[object Object],- Innovation,[object Object],- Customer Education,[object Object],- Dealer training,[object Object],- Low density vegetable growers,[object Object],- High density vegetable growers,[object Object],- Thinning operations,[object Object],- Conventional vegetables,[object Object],We reduce operating cost,[object Object],- Labor reduction (100 to 1),[object Object],- Reduced risk of contamination,[object Object],- Mitigate labor availability concerns,[object Object],- Ag Dealers,[object Object],- Ag Service providers,[object Object],- Research labs,[object Object],- Ag Dealers,[object Object],- Ag Service providers,[object Object],Engineers on Machine Vision,[object Object],Two problems:,[object Object],- Identification,[object Object],- Elimination,[object Object],Dealer discount ,[object Object],COGS seek a 50-60% Gross Margin,[object Object],Heavy R&D investment ,[object Object],Asset sale,[object Object],Our revenue stream derives from selling the equipment,[object Object]
1 Week – 1 CarrotBot,[object Object],Confidential,[object Object]
The Business Plan Canvas Updated,[object Object],[object Object]
Marketing
Demo and customer feedback

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