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STOP GUESSING!adding science to magic in managing the implementation of innovative ideas BSG. All rights reserved.22 September 2014
What we know: the world is getting smaller, again
BSG. All rights reserved.
Convergence
Everybody wants to own the platform
22 September 2014 BSG. All rights reserved.If you own the platform, you own the customer, otherwise youre just a value-added service provider.
BSG. All rights reserved.
ProductServiceValueBest match winsBut what do our customers need?
Nobody knows for sure, not even our customers.
BSG. All rights reserved.How have we (mostly) always done things?
HOPEand
The Big launch
Grand plan
Blueprint
Dedicate resources
Build
Do we know enough?What do we need to move to looking like?Who?How much?What am I committing to show as a return?Overruns?Why is it taking so long?Will it work?Typically, it takes a long time to get from initial commitments to actual results
123Is this the right thing to do?Are we managing expectations effectively?Are we confident that this will work?Were smart people after all so we have good ideas!Is there another way?
Real customers, in real situations, are often not part of this at all!
Vanity metrics!
Does it work?
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Alan Smithee 78 movie credits on IMDB.com
So where does this leave us?
BSG. All rights reserved.
Making big bets and hoping for the best
HOPE
Build confidence iteratively, in line with investment
BSG. All rights reserved.
There have always only been two good outcomes for any ideaKnowingNOT Knowing
Thinking its still a good idea but not knowingKnowing
A better way to innovate22 September 2014 BSG. All rights reserved.
If we know that we dont have all the answers, why are we surprised that we get things wrong?
Origin of the Lean Start-up BSG. All rights reserved.
Recognition that existing businesses execute a business model, while start-ups look for one!Start-ups were originally based on valuing business plansNo customer feedback built in
No confidence in 5 year view
BUSINESS CASE
22 September 2014 BSG. All rights reserved.
Innovation + ongoing validation = invest with confidence
Create Context
What should the business look like?Problem / Solution Fit
Is there a problem worth solving?Product / Market FitDo we have a solution that people are prepared to pay for?Scale
Proven market product - invest in growth!Business model canvasResearch insights, analyticsUVP CanvasGet out of the buildingMVPDevelop the smallest set of functions that you can use to get feedback from real people early adoptersProceed with confidenceGet Production, Sales & Marketing involvedROI justifiable
1
2
3
4
LEARNBUILDMEASURE
PivotPersevere
BSG. All rights reserved.No customer feedback built in
UVP CanvasUVP CanvasUVP Canvas
Create context: The Business Model Canvas
The Unique Value Proposition Model22 September 2014 BSG. All rights reserved.
No customer feedback built in
1 2: What is the problem were solving, and is it a problem worth solving?
3 4: Will the market be willing to pay for our solution?
everything! Get out of the building!Test
BSG. All rights reserved.
HYPOTHESISHow does this align to our business modelFocusIs this worth solving?Lets testMVPREFINEEXECUTEWill the market buy it?Lets build and test with early adoptersProductMarket fitSales and Marketing roadmap
Build the business!Scale executionOperationsFind partners
Whats our next great idea?
How does the business fit together?1. Problem?2. Solution?3. Pay?
GREAT IDEA
BAD IDEAUVP
STOP GUESSING!
BSG. All rights reserved.
New concepts to appreciate
MVPBuild / Measure / LearnPivot or persevereCustomer needsVanity metricsUVPConfidence is better than hopeFailing is good as long as we do it quickly and cheaply
Checklist to create confidence22 September 2014 BSG. All rights reserved.When youve validated Problem / Solution fit, and Product / Market fit, then Scale with confidence!
Be prepared to fail and expect to do so!
Include customers in ALL steps
Arm yourself with enough research data to make a startThen build the smallest thing you need to get real feedbackUse this to validate your ideas, and set direction in terms of pivoting or persevering
Who is doing this already? BSG. All rights reserved.
In a world of rapidly reducing barriers to entry, 1,000s of start-ups that you havent heard of (yet) but who will probably be your next competitors, very, very soon!
References22 September 2014 BSG. All rights reserved.
The Business Model Generation by Alex Osterwalder
Why the Lean Start-up changes everything HBR article by Steve Blank
The Lean Startup by Eric Ries
Running Lean by Ash Maurya
Johannesburg London Cape TownLaura Greaves Business Development
+27 11 215 6666laura.greaves@bsg.co.za
Oxford Terrace3 Ninth StreetHoughton Estate2198
www.bsg.co.za // @bsgafricaLaura Greaves Business Development
+27 11 215 6666laura.greaves@bsg.co.za
Triangle House22 Riebeek StreetCape Town8001
www.bsg.co.za // @bsgafrica
David ReinhardtRegional Delivery Manager
+44 7841 947 198david.reinhardt@bsguk.co.uk
CityPoint1 Ropemaker StreetLondonEC2Y 9HT
www.bsgdelivers.com // @bsguk
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