lean venture series - stage 3 lesson 1 slides

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Stage 3: Preparing to GrowLesson 1: Spreading the Word About Your Idea

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By the end of this lesson you should be able to:

• Tell the story of your business model based on your latest iteration of your Business Model Canvas, Value Proposition Design, and Terrain Map.

• Identify key gaps that need to be filled and work on some as feasible in class.

• Use this story as the basis to begin developing a strategy for SPREADING THE WORD ABOUT YOUR IDEA.

• Define the elements of a successful brand, which are (based on CREATING A BRAND template):– Brand pyramid: vision, values, attributes (work on in class), – Communications framework: tagline, stories and key messages (post-lesson

assignment).

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By the NEXT lesson you should be able to:

• Define 5 principles that are most effective for driving Word of Mouth

• Define the elements of a successful brand, which are (based on CREATING A BRAND template):– Brand pyramid: vision, values, attributes (work on in class), – Communications framework: tagline, stories and key messages

(post-lesson assignment).• Understand what it takes to create a brand• Understand key principals of Word of Mouth strategy• Understand and develop the fundamentals of Growth Hacking

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• Feature set for MVP• Validated learning• Pivots

Problem worth solving? Built something people want? How accelerate growth?

Ideal time to raise funding Concept Source: Blank Four Stages

to the Epiphany; Maurya, Running LeanImage Source: Startitup

• What problem are you solving? How might customers rank your problems in importance? • ie. Elderly residents need someone to walk their dog. It is

one of the most important needs they have• Who is the competition?

• ie. Who walks their dog now? What is the alternative to a dog walker?

• Who has the pain?• ie. Who has dogs that need walking?

These form the basis of your PROBLEM PRESENTATION Maurya, Running Lean, p. 83, 84

Assumptions

• Falsifiable Hypothesis = [Specific Repeatable Action] will [Expected Measurable Return], but see page 84:• These are more qualitative evaluations of

assumptions.

Maurya, Running Lean, p. 83, 84

Assumptions

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Creating a brand• What is a brand?

https://www.youtube.com/watch?v=9xkJJdXNdWs

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Review• What is your “to do” list on your

business model?• Branding – in relation to marketing

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For next class• Read & review lesson 1 content• Complete right hand-side of “bow tie” template:

“COMMUNICATIONS FRAMEWORK”• Draft a “FOUNDING STORY” to share with the class

as a basis for building a WORD OF MOUTH strategy• Create a list of possible GROWTH HACKS for your

business: Research them and start testing their success; find the metrics that will help you decide if they are helping you grow your startup.

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See you in TWO WEEKS!

Next class: Stage 3 - Lesson 2

June 9, 2016

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