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PIVOTINGNathan Furr

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BUSINESS MODEL

COMPETITION

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The BMCis NOT a Business Plan

Competition What are we rewarding?

The process

Testing assumptions

Making needed changes

Validation from customers

What are we NOT rewarding?

Sales pitch about the product

Massive but un-validated markets

Hot air claims

Fancy teams and advisors

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The Three Keys to the BMC

1. Identify assumptions

Use canvas scorecard

2. Test assumptions with customers

3. Pivot and tell the story

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Surprising Examples:

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How Will We Know

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PIVOTS

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What Is

a Pivot?

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Pivots

Adjust to Uncertainty

Correct Failure

Leverage Learning

Feel Good

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Are AllPivots

Good?

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Research Project

Multi-case study

10 innovative companies over 1 year

Successive interviews

Convenience sample of corporate innovators

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Dan and the Task Management Dilemma

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Pivot Broad Early

Focus matters

Go broad first

Try parallel

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Look for Pivot Takeoff

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Dont Stop Pivoting

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BACK TO THE BMC

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How Will We Know