The following is a high-level presentation I gave to the inaugural portfolio class of the Lean Launch Ventures accelerator program. It introduces the audience to the Business Model Canvas, and what the intersection of Lean Startup and the Business Model Canvas looks like.
1.Overview Why are we here? What is going on? Intro to the BMC and similar frameworks Leveraging the BMC: How To Final Takeaways and Next Steps
2. Who is this guy? 3. What have I learned? 4. What are we doing here? 5. What the hell is innovation?Something different that has impact -Scott D. Anthony Managing Partner, Innosight Innovation equals results, not creativity Its an action-oriented process Its not all about big bangs Its not about the size of the vision, its about impact Designing sustainable business models results in impact 6. the good newsImpact is relative, and it is measured by your own valuesand your vision for the way the world should beWe are positioned to increase our probability of creatingenduring value for this world as entrepreneurs.The pace at which we can accelerate our understandingof how to innovate effectively has never been so greatPeople are working incredibly hard to help YOU win! 7. Standing on the shoulders of giants Steve blank & Bob Dorf Customer Development Nir Eyal The Desire Engine Eric Ries Lean Startup Mark Johnson Seizing the White Space Alexander Osterwalder The BMC Clayton Christensen Disruptive Innovation Ash Maurya Running Lean & The Lean Canvas BJ Fogg Behavioral Modeling 8. What is the Business Model Canvas?A strategic management template for developingnew or documenting existing business modelsCreated by Alexander Osterwalder and Yves PigneurCreated by 470 practitionersAdopted by 500k+ innovatorsAdapted by many Business plans are dead 9. Why use the BMC?Understanding the fabric of your startups isparamount to increasing your odds of successInvestors probably wont care, and it doesnt matterUsing the BMC allows you and your team to create acommon, visual nomenclature around your startupDocumenting your progress with the BMC allowsyour team to better understand the effect of change 10. Theres a competitive fray The development of intellectual capital leads tobranding which ultimately leads to confusion Everyone is standing on giant shoulders We live in a culture of 1-uping each other Learn about everything out there, and decide foryourself what best fits your needs 11. The Lean Canvas 12. The Reality 13. BMC + Lean Startup 14. Business Models evolve w/ new insights 15. Populating the BMCPopulating the BMC is a collaborative and creative processThoughts should be concise and singular in focusBest done with sharpies and post-it-notes (contributors should usedifferent colors)Time-box the exerciseYou can stack business models (i.e. marketplaces & biz units)We want to stand at intersections, so sequencing matters! 16. Why does sequencing matter?Market risk is almost always themost critical risk startups face Eliminating Market Risk creates REAL business value 17. Sequencing What job(s) does the CS need done? How can we do that job for them? What are they willing to pay to get it done? What do we need to do in order to get the job done? How much does it cost to deliver the value? How do I reach customers and deliver value? What type of relationship do we want to develop? In order to deliver value, who do I need help from? 18. Whats the JTBD? 19. Customers and Value 20. Product-Market Fit 21. Can you actually get it done? 22. Distribution and Relationships 23. Whose help do I need? 24. Review your model and update! Things change as elements are added We need to account for these changes What does the profit formula look like? 25. Final TakeawaysYOU are very fortunate to live in an era where an unparalleled amount ofinnovation IC existsThe BMC increases your odds of making an impactSuperior business models and strategies win over superior productsUse the BMC to help frame your respective strategiesIdentify the most critical dimensions to our model, and de-risk-Market risk is always be a deal-killer riskTheory is validated by practitioners, so practice, practice, practice! 26. Lets Practice 27. ResourcesStanfords ecorner and podcastsStrategyzer.comLeanCanvas.comBusinessModelAlchemist.comSteveBlank.comAshMaurya.comGrasshopperHerder.comInnosights NewsletterStartupLessonsLearned.comNirandFar.comBJFogg.com