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Lean Lessons LearnedBlossoms early mistakes and successes
in light of the Lean Startup methodology
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Lean Startup?
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Why do startups fail?
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What is a startup?
A startup is a human institution designed to deliver a new
product or service under conditions of extreme uncertainty.
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Leap of Faith Assumptions
Value HypothesisHow to provide value someone will pay for
Growth HypothesisHow to increase the
number of people paying
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Is your hypothesis valid?
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Validate / invalidate hypothesis
validated learning
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Blossom: Data V0Value Hypothesis Have you needed financing? How
did/would you get
financing / existing options? Need/want halal source of
financing in future? Heres our concept; would
you use it?
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Blossom: Ideas V1Value Hypothesis Provide well-established*
Muslim-owned businesses with access to halal sources of
financing
Provide investors with 12% average annual return on capital.
Growth HypothesisLower the cost of customer acquisition by
spreading word-of-mouth awareness through musajid and MCAs and
highly-targeted online advertising.
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Implicit Assumptions
American Muslims care about avoiding reba
Established Muslim businesses in US need access to financing
12% annual return is good enough for investors on unsecured
loan
Legal costs Regulatory compliance Fee structure Cost of
operating
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Implicit Assumptions
American Muslims care about avoiding reba
Established Muslim businesses in US need access to financing
12% annual return is good enough for investors on unsecured
loan
Legal costs Regulatory compliance Fee structure Cost of
operating
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Blossom: Product V1Value Hypothesis Website registration Connect
bank account Get a quote Say yes
Growth Hypothesis Direct: leave postcards at
local musajid In-person: give a talk /
khalaqa at local masjid Online: Google & Facebook
paid advertising
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Blossom: Data V1Value Hypothesis Website registration"
low traffic to website; bulk inbound via phone
Connect bank account" low technical savvy
Get a quote" #1 most used feature! J
Say yes" slow to agree/sign
Growth Hypothesis Direct: leave postcards at
local musajid" soft interest
In-person: give a talk / khalaqa at local masjid" lack of
education/demand
Online: Google & Facebook paid advertising " expensive
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Blossom: Data V1
$150,000 USDprojected legal fees
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Pivot or Persevere
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220 Million 5 Million
Market Opportunity
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Blossom: Data V2
Financial literacyFinancial access
80% population unbanked; financial illiteracy drives
cyclical poverty;
Huge demand for microfinance limited by
amount of capital
Rp!
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Blossom: Ideas V2Value Hypothesis Provide capital and
technology to micro finance institutions for 6-12% profit
sharing
Provide international investors halal investment opportunities
for social uplift at 4-10% returns
Growth Hypothesis1. Grow initial awareness
through bitcoin early adopter community
2. Build buzz of press around first transparent BTC investment
platform
3. Online ads CPA > CAC
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Blossom: Ideas V2Value Hypothesis Provide capital and
technology to micro finance institutions for 6-12% profit
sharing
Provide international investors halal investment opportunities
for social uplift at 4-10% returns
Growth Hypothesis1. Grow initial awareness
through bitcoin early adopter community
2. Build buzz of press around first transparent BTC investment
platform
3. Online ads CPA > CAC
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Blossom: Product V2Value Hypothesis Make pilot investment
into
Indonesian microfinance institution (MFI)
Build MVP to move money into / profit from MFI using bitcoin
public ledger
Growth Hypothesis Solicit investment from
bitcoin early adopters via our existing network
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TBD"(in sha Allah)
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Contact: [email protected]
Profitable Social UpliftTransparent. Efficient. Impactful.
