Beat-the-Odds Boot Camp Final Day Preparation Webinar #3, Se ptember 11, 2017

1. Beat-the-Odds Boot CampFinal Day PreparationWebinar #3, September 11, 2017

2. Program Review

5. Initial Guidelines

6. Identify Primary Customer Segment (s)

7. Define Value Proposition Segment based on Needs Define Metrics of Success Define “Jobs-to-be-Done” Define the Customer Initial Focus

8. Identify Key Roles in Purchase Decision

9. Stakeholders within Customer Segment

10. Customers are people. Identify and understand the stakeholders in an purchase decision. • Primary Customer Segment / Sub-Segment • End User • Decision Maker • Payer • Influencer • Recommender • Saboteur

11. Different Customer Segments will have…different Stakeholders!

12. Different Customer Segments will have…different Purchase/Implementation Decisions

13. Value Propositions

14. …describe the benefits your customers derive from your products or services.

15. Different Customer Segments will have…different Value Propositions

16. Different Stakeholders will also often have…different Value Propositions

17. And you must understand all of them!

18. Bootcamp Prep

19. Instructor Notes

20. Instructor Notes You have about 8 min of talking time and 5 min of Q&A… you will not be able to cover everything You should plan to share the “most important” learning in the process and tie it to your business model.

21. Instructor Notes This is NOT a technology, product, or solution presentation… we want to primarily hear about the customer problem/need Specifically we want to hear what you learned in this program – what you heard, NOT just what you think.

22. Instructor Notes We also want to hear about other aspects of your business model that you explored Specifically we want to hear what you learned in this program – what you heard, NOT just what you think.

23. Instructor Notes If nothing has changed over the course of the program… you haven’t learned anything Do not try to BS your way through “fake changes”, but no changes indicate that you have not understood or embraced the process. Your peers, Program Director, and Instructor will notice.

24. Instructor Notes You should be able to tell your story without slides The slides help you tell the story, but they are NOT the story. SO…you SHOULD NOT be focused on doing “homework” or “checking off deliverables” – focus on your customer discovery interviews…and learning from them.

25. Instructor Notes You should be able to tell your story without slides ANDALSO

26. Instructor Notes You should be able to tell your story without describing your technology Yes, you read that correctly! Focus on why you are doing something for a customer – what is the value? Do not focus on the “how” you plan to do it…at least in this presentation.

27. Your Theme “What we thought, what we did, what we learned,and what we plan to do next…” This is the “narrative arc” of your presentation. We are ONLY interested in what you did DURING the course and learned THROUGH the interview process…all other information should be saved for another time.

29. Best Practices

30. Best Practice Indicate whether you did a “deep dive” or “broad scan” of potential Customer Segments (focus is important, but knowing where to focus is equally important…it is fine to take a guess and try some “knee deep” dives in the 20+ interview range)

31. Best Practice Note HOW you are defining/grouping customers in a Segment – what is the ”common job” shared by these customers? You are looking for “logical groupings” of customers based on a common job to be done (requirements, pains, gains) and context of the job. Will the SAME business model serve them all? Or will you need to sub-segment?

32. Best Practice If pursuing different Customer Segments, considerusing a different canvas for each (you can always combine them later if they can be served by same business model)

33. Best Practice Remember that Customer Types (stakeholders) may all have different motivations (value propositions) that your solution must deliver for a purchase decision to be made (try to identify the top VP for each)

34. Required Evidence How have you validated all of this Customer information? What Customer Discovery evidence backs it up? *you must clearly indicate whether your statements are still untested hypotheses (guesses) or backed up evidence from your interviews

35. Best Practice Assess how your customers rated your Value Propositions

36. Best Practice Can you rank order the them? Remember that different Customer Segments likely have different VPs…or at least rank them differently in importance. ALSO…don’t forget that WITHIN a Customer Segment, the Customer Types (stakeholders) also may have different VPs – this is key point to keep in mind

37. Required Evidence How have you validated the Value Propositions? What Customer Discovery evidence backs it up? *you must clearly indicate whether your statements are still untested hypotheses (guesses) or backed up evidence from your interviews

38. Best Practice What else did you learn about your business model?

39. Required Evidence How have you validated this additional information? What Customer Discovery evidence backs it up? *you must clearly indicate whether your statements are still untested hypotheses (guesses) or backed up evidence from your interviews

41. Presentation Guide

42. Presentation Instructions • You will only have about 8 minutes talking time - be brief and concise! • This is not a technical presentation. This is a LESSONS LEARNED presentation. • Use this GUIDE to frame your presentation. You may change the format and number of slides as you wish, but you MUST cover the content in the Required Content section. • Highlight changes in your business model; if you do not have changes, be prepared to defend. • Expect to be challenged – our bias is to question everything you say, unless you can validate your claims by customer interviews. • Make sure to put your presentation file on a flash drive and bring to your Presentation Session for the Boot Camp. You will not be able to use your computer. • You will be presenting to NSF I-CORPs instructors, SBIR Program Directors, and other SBIR companies. Do not include proprietary information. • Please plan to stay to hear the presentations given by other companies.

43. Required Content

44. NOTE: This is a required slide. Company Name Team Member 1 Name/Title Team Member 2 Name/Title Team Member 3 Name/Title Team Member 4 Name/Title NSF Program Director: Name? Bootcamp Instructor: Name? Interviews Completed in Bootcamp: TotalNumber?

45. NOTE: This is a required slide. Interview Breakdown End Users = ? Decision Makers = ? Others with a role in purchase = ? Others with NO role in purchase = ? Indicate who you spoke to...whether your customers are other organizations/businesses…and how many interviewees were partners, experts, regulators, etc, outside of buying decision

46. Top three things you learned Insight #1? Insight #2? Insight #3? These can be on separate slides, but all MUST be insights about your Customer or other aspects of your business model – NOT your technology/product/service. If you are testing MVPs/prototypes with customers, you may share insights from that effort in a separate slide.

47. Current Business Thesis Who is the primary customer? (Who will use your product? Who will decide to buy?) What is your product? (High level – avoid technical jargon.) Why would the customer use it? (What value does it offer over existing solutions or doing nothing.) These can be on separate slides, but content must be covered.

48. You do not have to include this slide...but it will help frame your business thesis.

49. NOTE: This is a required slide. Show Initial Canvas (at start of Bootcamp)

50. NOTE: This is a required slide. Show Revised Canvas (at end of Bootcamp) Note changes from first version