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Business Modeling

Business Modeling. Week 5. Agenda. 5:30 – Team Stand Up 5: 40 – Business Modeling 6:15 – Activity: Business Model Canvas 7:25 – Ongoing Offsite Activities. Objectives. Introduce Business Modeling Introduce Business Model Canvas Total Addressable Market Customer Acquisition Costs.

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Business Modeling

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  1. Business Modeling Week 5

  2. Agenda • 5:30 – Team Stand Up • 5:40 – Business Modeling • 6:15 – Activity: Business Model Canvas • 7:25 – Ongoing Offsite Activities

  3. Objectives • Introduce Business Modeling • Introduce Business Model Canvas • Total Addressable Market • Customer Acquisition Costs

  4. Business Modeling • Speaker Name • Title • Credentials

  5. Business Model • Business models reflect an organization’s present goals and objectives • A business model represents key methodologies that support an organization to deliver a service or product to customers.

  6. Organization-Centric • What can we sell customers? • How can we reach customers most efficiently? • What relationships do we need to establish with customers? • How can we make money from customers? NO!

  7. Customer-Centric • What job does our customer need to get done and how can we help them? • How do our customer prefer to be approached and addressed? • What relationships do our customers expect us to establish with them? • For what value are our customers truly willing to pay?

  8. Business Model • To be in business, sooner or later someone has to pay you. Who is that? • Probably the person who actually benefits most from the app - and it may not be the person using it!

  9. Business Model Canvas

  10. Value Proposition • What value do we deliver to the customer? • Which of our customers’ problems are we helping to solve? • What bundles of products and services are we offering to each customer segment? • Which customer needs are we satisfying?

  11. Case Study: SympleApp Symple App - a mobile phone application that allows the chronically ill to keep a diary of symptoms • Who might want that information? • Patients, doctors, and drug companies

  12. Symple App: Value to Patients Symple App will help the patient capture accurate information about how they are feeling, thus improving their diagnosis and refining treatment plans

  13. Symple App: Patient Problems Solved Getting better care Feeling better sooner Minimizing doctor visits

  14. Symple App:Value to Doctors Symple App will deliver reliable and accurate information which could improve efficacy of patient treatment plans May surface up negative food or drug interactions

  15. Symple App:Doctor Problems Solved Getting reliable data from each patient Giving the best care possible

  16. Symple App:Value to Drug Company Symple App will deliver reliable and accurate information to drug companies to better understand how the drugs act and react Improves proper patient targeting and dosage recommendations

  17. Symple App:Drug Company Problems Solved Increased visibility into negative interactions Targeting markets for drugs more effectively Increasing channels for drugs

  18. SympleApp:Product and Services • Deliver the app to the patient • Deliver data per patient to the provider • Deliver data on all patients to drug companies

  19. Symple App:Customer Needs • Patient – having accurate information about symptoms on a daily basis will improve treatment • Doctors – can better manage symptoms if they have accurate information to prescribe for • Drug Companies – can produce drugs that can better solve problems if they know what the real problems are

  20. Value Proposition Characteristics • Newness • Performance • Customization • Design • Brand / Status • Price • Cost Reduction • Risk Reduction • Accountability • Convenience / Usability

  21. Revenue Streams • Patients pay for the Symple and keep data private • Patients get Symple free and the business is offset by ad revenue by drug and insurance companies • Drug or insurance companies license Symple to collect and manage their own data • Doctors subscribe to patient feed of data and buy “reports” that summarize patient behaviors and impact

  22. Activity:Business Model Canvas

  23. Business Model Canvas Find the BMC Example in your team’s Technovation Workspace on Google Docs

  24. Reminder:Weekly Reflections • What did your team like about this week? • What challenges did your team have this week? • Anything else your team would like to share?

  25. Technovation Challenge Google Group

  26. Share with us onTwitter & Facebook Tweet us: @_technovation_ #technovation Like us on Facebook: Technovation Challenge

  27. Ongoing Offsite Activities • Customer Development • Usability Testing • Evaluate Data • Continue with App Inventor • Build Prototype

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