BDLabs – March Mondays

Class 1: SOLIDIFYING THE PROBLEM

[Morning]

Assignment: Make a presentation of the state of your project.

Content of your 15 min presentation

Content Description
1 Idea description A clear explanation (e.g. by using a story) of the product/service that you are proposing and the problem/need that you are solving

You should be able to express your business idea in one sentence (e.g. “We are solving [X problem] for [Y customer segment] by doing [Z solution]“) focusing on the problem that you are solving and/or the gains that you are creating for your users

2 BMC The 9 blocks of the BMC (Business Model Canvas).
In particular, you should detail the right side (VP, CS, CR, CHRS) plus the KP (if necessary).Please, do not put the 9 blocks of the BMC in one slide, explain them in context throughout the presentation.Key questions to answer: Who is your customer? How do your customer facts (interviews, questionnaires, etc.) support the Product-Market Fit between the VP (the “why”) and the CS (for “who”)? How are you making money? How are you getting the first customers? Which distribution channels are you using? Are partners essential for your business?
3 Competitors analysis A succinct description of the existent competitors (a list, a comparative features table, a positioning diagram, a perception map, etc).

Key questions to answer: How is your CS solving the problem/need today? Are there any other solutions (competitors)? Why is there an opportunity for you? What’s your USP (Unique Selling Proposition)?

4 Market study Figures, charts, or any other visualization to show the data of your market (do not forget to reference the sources).

Key question to answer: How big is your Target Market?

5 MVP
  • Initial design artifact (e.g. paper prototype, video prototype, wireframes, etc.)
  • Software Architecture: describe the components of your system and how they interact between them (e.g. with a diagram)
  • Live demo of your MVP. Note: you should also have a video of the demo in case of an “emergency”
 6  Next Steps Describe your next steps and in particular how will you use your MVP to validate your business idea

 

[Afternoon]

Assignment: Answer these questions

(To be finished  before week 2)

  1. Customer facts a.k.a. get out of the building to validate the assumptions on your Business Model Canvas. Bring user facts, try to validate your hypothesis. Note: it is ok if your hypothesis were wrong (i.e. the people you talked to did not reply what you expected) but bring the data, so you can work with your coach on how to continue.
    • interviews
    • questionnaires
    • talk with real people!
  2. Refine your target market and competitor analysis
  3. Rough Target Market sizing
  4. Now, are you solving the problem?
  5. Is your solution an innovation? What’s the difference between you and the competitors?

Assignment between class 1 and class 2: prepare a low or high fidelity prototype

Class 2: SOLIDIFYING THE SOLUTION

[Morning]

Assignment:

At this point, you have a prototype, you need to test it and re-validate it.

  • Pitch the current status of the project
  • Present the results of week 1 – finalized!
  • Plan of improvement for the following weeks
  • Integration of feedback in the next iteration

[Afternoon]

Design thinking session. The aim of the session is to make sure the design is user centred and that all steps of the design process are followed

Assignment: 

  • Describe your customer segments (e.g. with Personas)
  • Practice your one sentence description, e.g. “We are solving [X problem] for [Y customer segment] by doing [Z solution]
  • Pick a name for your product/service
  • Post validation ideation session – Brainstorming session for new ideas, modified solutions.

Desired outcomes: 

  • Outcome 1: Storyboard
  • Outcome 2: Video prototype
  • Outcome 3: Lo Fi Prototype (paper, object, wizard of Oz, role play…etc.)
  • Outcome 4: Revenue models
  • Outcome 5: Identify your hypothesis and test it with regards to these prototypes – MVP (learn something about the solution you are making)

Assignment between class 2 and class 3: prepare a high fidelity prototype

Class 3 : SOLIDIFYING THE CUSTOMER TESTING

[Morning]

You have a prototype, you test it and re-validate it.

  • Pitch the current status of the project
  • Present the results of week 2 – finalized!
  • Plan of improvement for the following weeks
  • Integration of feedback in the next iteration

Assignment:

Work hands-on:

You need to run user testing with the customer’s perspectives: peer testing! 

[Afternoon]

Practical work on the development and testing of the solution and the business model supervised by Carla.

Assignment: Revise your Business Model Canvas, answer the following questions:

  • Value proposition: what pain what gain, for who? Problem or need?
  • Customers segment: who are your customers? Geographic social characteristics…etc?
  • Channels: how does your product gets to your customers? Distribution?
  • Customer relationships: how do you get, keep and grow customers?
  • Revenue Streams: how do you make money. What value is the customer paying for?
  • Resources: what assets are important? What do you need?
  • Partners: who are you key partners? What are you acquiring from them? What is their activities and when?
  • Key activities: what are the most important things you need to become expert at?
  • Costs: what are the cost and expenses to operate the business model?

Assignment between class 3 and class 4: prepare a finalized version of your solution. 

Class 4 : FINAL ITERATION

[Morning]

You have a prototype, you need to keep testing it it and re-validating it.

  • Pitch the current status of the project
  • Present the results of week 3 – finalized!
  • Plan of improvement for the following weeks
  • Integration of feedback in the next iteration
  • What did you learn in the previous weeks?
  • How did the validation of the revenue model help reiterate on the current state of the solution?

Assignment:

Work hands-on: Another iteration of user testing with the customer’s perspectives.

[Afternoon]

Practical work on the development and testing of the solution and the business model supervised by Carla.

Assignment: Revise your Business Model Canvas, answer the following questions:

 

  • Value proposition: what pain what gain, for who? Problem or need?
  • Customers segment: who are your customers? Geographic social characteristics…etc?
  • Channels: how does your product gets to your customers? Distribution?
  • Customer relationships: how do you get, keep and grow customers?
  • Revenue Streams: how do you make money. What value is the customer paying for?
  • Resources: what assets are important? What do you need?
  • Partners: who are you key partners? What are you acquiring from them? What is their activities and when?
  • Key activities: what are the most important things you need to become expert at?
  • Costs: what are the cost and expenses to operate the business model?

Defence: 7th of March 2017

Preparation of the Defence: TBD