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Startup Lab > Midterm > Flashcards

Midterm Flashcards

1
Q

6 customer types

A 
Decision maker
Economic buyer
Influencer
End user early evangelist
Saboteur
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2
Q

This customer type decides to adopt

A

Decision maker

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3
Q

This customer type issued the PO/signs the check

A

Economic buyer/payer

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4
Q

This customer type drives adoption/sways the decision

A

Influencer

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5
Q

This customer type is day to day users

A

End user

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6
Q

This customer type is early adoption/advocate for your solution

A

Early evangelist/recommender

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7
Q

This customer type undermines its adoption

A

Saboteur

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8
Q

Who influenced the decision maker

A

Influencer, saboteur

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9
Q

Who influences the payer

A

Decision maker

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10
Q

Who influences the user

A

Payer, recommender

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11
Q

A petal diagram considers the

A

Competition

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12
Q

Four petals of a petal diagram

A

Adjacent solutions/markets
Technological substitutes
Technological alternatives
Current solution

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13
Q

7 types of pivots

A 
Customer segment
Value proposition
Product
Zoom-out
Zoom-in
Revenue model
Others
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14
Q

Customer segment pivot

A

Change in customer segment

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15
Q

Value proposition pivot

A

Change in pain/need

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16
Q

Product pivot

A

Change in technology/application

17
Q

Zoom-out pivot

A

Addition of features

18
Q

Zoom-in pivot

A

Reduction of features

19
Q

Revenue model pivot

A

Change in how make money

20
Q

Other types of pivots

A

Change in business architecture (B2B, B2C), growth strategy, etc.

21
Q

Pivot: keeping the same value proposition, technology, or product but focusing on a different customer segment

A

Customer segment pivot

22
Q

Examples of customer segment pivot

A

PayPal: started by continuity - allowed people to “beam“ payments from PDAs; merges to become preferred online payment system for eBay sellers

Facebook - students only hook up app to what it is today (everything for everyone)

23
Q

Keeping the same customer segment, technology, or product but addressing a different problem, job or gain

A

Value proposition

24
Q

Example of value proposition pivot

A

Groupon - started as the point (social good fundraising where a cause would receive funding once the pledged donations reached a certain number) founder started Groupon as a side project, same premise

25
Q

Keeping the same customer segment and value proposition, but using a different product or technology to solve the problem, do the job or deliver the gain

A

Product pivot

26
Q

Product pivot examples

A

Pinterest - tote, got rid of clutter
Twitter - odeo (find and subscribe to podcasts), changed with growth of podcasts on iTunes
Starbucks - selling espresso makers and coffee beans to European style coffee shops in US

27
Q

Expanding the customer segment, value proposition, or product

A

Zoom out pivot

28
Q

Example of zoom out

A

Yelp - from email circles for recommendations to users sharing reviews

29
Q

Focusing the customer segment, value proposition, or product

A

Zoom in pivot

30
Q

Example of zoom in pivot

A

Instagram - bourbon (check in with gaming and photos) to only photos, building collections
Flickr - online role playing app with photo sharing to only photo sharing, eventually acquired by yahoo

31
Q

Changing how the startup makes money

A

Revenue model pivot

32
Q

Revenue model pivot examples

A

Netflix - DVD’s by mail, pay and return; faster speeds allows streaming, one price independent of how much you watch

33
Q

Customer functional job?

A

Perform or complete a specific task

34
Q

Customer social job?

A

Look good; gain power or status

35
Q

Physiological business needs

A

Build product, deliver service, phone, computer, internet

36
Q

Safety business needs

A

Revenue stream, recruiting employees, retention rate

37
Q

Belonging business needs

A

Employee relations, investors, customers

38
Q

Esteem business needs

A

Brand recognition, partnerships, IPO, press coverage, awards

39
Q

Self-actualisation business needs

A

Corporate citizenship, social responsibility

Startup Lab (3 decks)

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