IntroEntre_Lecture08_2011-10-24

IntroEntre_Lecture08_2011-10-24 - INTRODUCTION TO...

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INTRODUCTION TO ENTREPRENEURSHIP Page 1 Powerpoint Templates
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The Startup Process in the cold, cruel world Page 2
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The Startup Process @ BYU Page 3
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Key Resources • Alex Osterwalder Business Model Generation • Steve Blank Page 4 The Four Steps to the Epiphany • Eric Ries The Lean Startup • Nathan Furr Nail It Then Scale It
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Product Development Focus Kills Startups • The product development model is wrong for startups Concept/ Seed Product Development Alpha/Beta Test Launch/First Customer Ship Page 5 • A startup exists to search for an unknown but viable business model , not to develop a known product • Startups need to focus on customer development first – Product development might be a part of the search December 10, 2011 5
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Really? • Yes, really • A product development focus (to the exclusion of a customer development cus) oes ill startups Page 6 focus) does kill startups • War stories abound December 10, 2011 6
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Customer Development • Customer development model captures how startups should iterate and pivot to a viable business model ustomer ustomer ustomer ompany Page 7 • Test hypotheses about business model early and often • Easy to say , harder to do , but it’s the right approach for startups December 10, 2011 7 Customer Discovery Customer Validation Customer Creation Company Building
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What Is a Business Model? • No business plan
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This note was uploaded on 12/13/2011 for the course BUSM 371R taught by Professor Johnrichards during the Fall '11 term at BYU.

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IntroEntre_Lecture08_2011-10-24 - INTRODUCTION TO...

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