Lean Sturt-up

Question 1

The business model canvas

Answer 1

9 building blocks
Key paterns
Key activities
Key resources
Value proposition
Customer relationship
Channels
Customer segments
Cost structure
Revenue streams

Question 2

Lean start-up vs. traditional Strategy

Answer 2

-Business model, hypothesis driven VS Implementation driven

Question 3

Market types

Answer 3

Existing market
New Market
Re-segmented niche
Re-segmented low cost

Question 4

Problem vs. solution

Answer 4

Love the problem not the solution
In summary, first build the product that everybody wants, then raise enough money to build the company. If you can build a big company that way, by all means do it.

Question 5

Key partners in business canva

Answer 5

Who are your key business partners?
Key suppliers
which activities the partners perform

Question 6

key act.

Answer 6

-what key activities do our value proposition requires
- our distribution channels?
- customer relationship?
- revenue streams?

Question 7

Key resources

Answer 7

• what key resources our value proposition require?
• our distribution channels?
• customer relationship?
• revenue strams?

Question 8

value proposition

Answer 8

• what value do we deliver to the customer
• which of our customer’s problems are we helping to solve
• which customer needs are we satisfying?

Question 9

Customer relationship

Answer 9

• how do we get, keep and grow customer?
• which relationship have we established?

Question 10

Channels

Answer 10

-through which channels do our customer segments want to be reached?

Question 11

Customer segmentation

Answer 11

for whome are we creating value?

Question 12

Lean start-up

Answer 12

Instead of business plan and creating fully functional prototypes —> customer feedback and show MINIMAL VIABLE PRODUCTS
- searching for business model

Question 13

Search + Execution of Lean Start-up

Answer 13

1) Customer discovery
- hypothesis, assumptions - minimum viable product
2) customer validation
- test all the hypotheses and validate customer interest

Execution
3) Customer creation
- product is redefined enough to sell
4) Company Building

Question 14

Minimum viable product

Answer 14

Involved in the lean start-up

containing the main features

Question 15

Wholefoods market - what did it say to retailers

Answer 15

The three business model is obsolate

Question 16

Competing against free

Answer 16

• The competitor enters the market and offers the product very similar to yours but for free

Question 17

Competing against free - how bit is the threat?

Answer 17

Immediate threat –> launch free pr. immediately
- defection rate
- growth rate less than 40%

Business model threat –> change business model
- defection rate - high
- growth rate > 40 %

Minor threat –> monitor
- growth rate less than 40%
- defection rate less than 5%

Delayed threat
- coexist or delay
- Growth rate higher

Question 18

3 aspects of business model

Answer 18

• Why, what, differnce
• What is the business model
• What are the channels
• What we are charging

Question 19

omnichannel

Answer 19

seamless connection

Question 20

Internal crowdsourcing

Answer 20

Ideas of employees
- cognitive diversity
-Gegographically distributed
-engage younger employees

Question 21

The customer centered innovation map

Answer 21

people hire services not things to get the job done

Question 22

Internal crowdsourcing

Answer 22

1) stay focused on innovation
2) give internal participants slack time
3) alllow for annonymous participation
4) keep experts away
5) use collaborative process
6) utilize platfroms that faciliatate shared developement
7) be transparent about plans for follow up and communication

Question 23

Job to be done theory

Answer 23

people buy products to get the job done
all jobs are processes
all jobs have universal strucutre - 8 steps