Post on 14-Apr-2018
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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