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STARTUP SCIENCE
TOOLKIT
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value-propo
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Download your own Use post-it notes to When working as a
copy into a Google build up the tools. The team, complete your
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you can make copies of includes digital post-its share perspectives.
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BUSINESS EXPERIMENTIN
INCEPTION CUSTOMERS #IMMORTALITY
MODELLING G
#STORYTELLIN UNIVERSAL
#HUSTLING #BUILDING #MEETINGS
G PITCH DECK
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you tick a box, you must have evidence!
Problem exists
First customer
Problemsegment
exists Problem / Product / Market
First customer Solution fit fit persists
identified
Ltd
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NOW NEXT LONG
What will you do tomorrow? What will you do in the next couple of months? What big things need to happen?
Pollenizer Global Pty
Ltd
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Pollenizer Global Pty Ltd - Idea inspired by Simon
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#MASSIVE
1 2 3 4
What if What if What if What if
e.g. We could e.g. We could e.g. We could use e.g. Planet Earth
demonstrate a battery launch our own our batteries to was solar powered?
powered supercar using a electric supercar? power homes?
Pollenizer Global Pty
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Transform your #MASSIVE Canvas into a story. What will the world say
when you are done? Think about how each stage creates the conditions
for the next to happen.
Until finally
e.g Every home, office and car on Planet Earth was powered by cheap, powerful renewable energy.
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PRODUCT MARKET
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PRODUCT MARKET
Cu Sol Uni Un Cu
sto uti qu fair sto
me on e Ad me
r Val va r
Pro ue nta
ble Pro ge
m po
siti
on
Me Ch
tric an
s nel
s
Lean Stack
Cost Revenue
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Gain creators: Gains:
Describe how your Describe the
products and outcomes
services create customers want to
customer gains. achieve or the
concrete benefits Customer jobs:
Products and they are seeking. Describe what
services: customers are
that make up your trying to get done
solution to the in their work and in
problems their lives, as
associated with expressed in their
Pain relievers: Pains: own words.
getting the job
Describe how your Describe bad
done.
products and outcomes, risks
services alleviate and obstacles
customer pains. related to the
customer jobs.
Strategyzer
VALUE CREATION CUSTOMER UNDERSTANDING
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Pains Gains
What does your customer find too costly? Which savings would make you customer happy?
Takes a lot of time, costs too much money, requires substantial Time, money and effort
effort
What outcomes does your customer expect and what would
What makes your customer feel bad? go beyond?
Frustrations, annoyances, things that give them a headache Quality level, more of something, less of something
How are current solutions underperforming for your How do current solutions delight your customer?
customer? Specific features, performance, quality
Lack of features, performance malfunctioning
What would make your customers job or life easier?
What are the main difficulties and challenges your customer Flatter learning curve, more services, lower cost of ownership
encounters?
Understanding how things work, difficulties getting things done What positive social consequences does your customer
desire?
What negative social consequences does your customer Makes them look good, increase in power, status
encounter or fear?
Loss of face, power, trust or status What are customers looking for?
Good design, guarantees, specific or more features
What risks does your customer fear?
Financial, social, technical risks, or what could go awfully wrong What do customers dream about?
Big achievements, big reliefs
Whats keeping your customer awake at night?
Big issues, concerns, worries How does your customer measure success and failure?
Performance, cost
What common mistakes does your customer make?
Usage mistakes What would increase the likelihood of adopting a solution?
Lower cost, less investments, lower risk, better quality,
What barriers are keeping your customer from adopting performance, design
Source: Strategyzer
solutions?
(www.strategyzer.com)
Upfront investment, learning curve, resistance to change
v GROWTH WITH STARTUP SCIENCE
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VALUE PROPOSITION VERSION:
VERSION:
Map what you will build to what the customer will value and
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need
Gains
Gain Creators
Products
Customer Jobs
and
Services
Pain Relievers
Pains
Strategyzer
VALUE CREATION CUSTOMER UNDERSTANDING
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Key Partners Key Activities Value Customer Customer
Proposition Relationships Segment
Who are our key What key activities do
partners? Key our offers require? What is our offer and What type of relationship What are the specific
suppliers? Which key how does this deliver does each of our customer characteristics of our
activities do partners value to our segments expect us to first customers?
perform? customer? have with them?
Strategyz
market
What assets do we need
to be able to deliver our Which channels should
offer? we use to reach our
customers?
What costs we will incur to run the business? How much are our customers really willing to pay for our offer?
What is our acquisition cost per customer? What is the potential lifetime value of each customer?
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Key Partners Key Activities Value Customer Customer
Proposition Relationships Segment
Strategyz
Market
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Key Partners Key Activities Value Buy-In and Beneficiaries
Proposition Support
Based on Strategyzers BMC - created by Steve Blank and Alexander
Who do we help or hinder? Who will love us? Who will hate us?
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Organisation Impact Severity
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then design a test to measure if it is.
Hypothesis Test
A statement or assumption How will you test customer behavior against your HYPOTHESIS? This
about the business. is not a survey asking for opinion, it is creating conditions to
observe your customer.
e.g. Tech community
influencers will promote a e.g. Add an electric engine to a Lotus and demo to 100 Silicon Valley
Pollenizer Global Pty
If our hypothesis is correct, What actually happens. What Given the outcome, what is our
what do we expect to see? did you measure? shared learning/insight as a
Ideally as a metric. team?
e.g. 80+ posts and 10 orders
e.g. 50 attendees will blog for the car! e.g. Posts were about the new
enthusiastically about what we age of renewable power and
demo. what is possible. Tech
community will be a good
channel for us.
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business to work, then design a test to measure
if it is.
Hypothesis Test
Pollenizer Global Pty
PASS FAIL
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Job Nee
to d
be Must
don have
Target customer
# e vs
or segment
Big nice
or to
small have
? ?
Pollenizer Global Pty
1
Ltd
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Simple Customer Interview Guide How will you introduce yourself?
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Which ones are useful to you?
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Always ask open ended questions
Write your questions here ... 1. Whats the hardest part about
<problem context>?
2. Can you tell me about the last
time that happened?
3. Why was that hard?
4. What, if anything, have you done
to solve that problem?
5. What dont you love about the
Pollenizer Global Pty
More Tips
Do NOT talk about your idea until you
Ltd
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CUSTOMER: Who most PROBLEMS: What actions? INSIGHTS: What did you
commonly faces the Where? How often? Did they hear that you hadnt
problems? How often? volunteer your hypothesis? thought of?
Pollenizer Global Pty
Ltd
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As a... As a... As a...
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DRAW IT DRAW IT DRAW IT
Where and
Why they are
Pollenizer Global Pty
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DRAW IT DRAW IT DRAW IT
Where and
Why they are
Pollenizer Global Pty
Where will you be? What will you be doing? What have you
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achieved?
Pollenizer Global Pty
Ltd
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will motivate you to do this for the next 10 years? Consider different
currencies such as reputation, time, money. Give it a number.
Risks Rewards
Pollenizer Global Pty
Ltd
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Capab Curre Availa Requir
ility nt bility ed
streng (time) action
th
Busin
ess/D
omain
skills
Pollenizer Global Pty
Financ
ial
Ltd
skills
(accou
nting)
Deep
techni
cal
knowl
edge
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COMMITMEN CAPABILITY
T
CAPABILITY
POSSIBLE RISK
NEEDED
Pollenizer Global Pty
WHY? PURPOSE?
Ltd
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WHY? PURPOSE?
Pollenizer Global Pty
WE BELIEVE...
WE BELIEVE...
Ltd
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1 2
RISK TEAM MEMBER & RISK TEAM MEMBER &
ACCOUNTABILITY ACCOUNTABILITY
Pollenizer Global Pty
REWARD REWARD
3 4
Ltd
REWARD REWARD
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accountability, risk and reward? How big is the pie over time
and how does the ownership adjust to reflect input?
Identify
milestones and
plan value
increases
Pollenizer Global Pty
towards exit.
Use template
below to
experiment with
scenarios.
Ltd
https://goo.gl/kC
UzA3
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coaches, connectors
Your Thei
Avail
Pers expe r
Type abili
on ctati rew
ty
ons ard
Run
way
Indu
stry
Pollenizer Global Pty
Expe
rt
Spin
-out
Expe
Ltd
rt
Sup
erpo
wer
Area
Othe
r
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You know how....
to build a smarter
Well, what we do is .... business but is this
causing the risk that
private customer data
will create a terrible
Ltd
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I need to tell a story about: I need to tell a story about: I need to tell a story about:
Check your
favourite
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Attempt #1....
Pollenizer Global Pty
Attempt #2....
Ltd
Attempt #3....
Pitch your startup in context of time. Are the planets aligning for the perfect storm?
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Attempt #1.... Attempt #2....
Pollenizer Global Pty
Ltd
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#MASSIVE Why?
UVP: Imagery
Pollenizer Global Pty
Music Chart
Ltd
Objects Colours
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Slides illustrate. Tell a story in a picture. Dont use text that you will read or
lots of data that people will try to understand instead of listening to you.
What is your story? How does it flow from one image to the next?
What phrases/imagery can you repeat as a theme?
Could you present it to anyone and they would understand and be excited
about what you do?
Big pictures not small. Words and patterns not sentences.
Feel free to make more slides if you need to to tell your story.
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Passive Awesome
(avoid)
We are Next
planning month we
to are...
We hope We are in
Pollenizer Global Pty
to... the
process
of
Ltd
We think We know
that... that...
We are We are
considerin investigati
v GROWTH WITH STARTUP SCIENCE
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THEME / ORIENTATION
An intriguing hook or detail
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Short sentence, word pattern, image. All needs to be consumed in 1
second.
Option #1
INVESTORS MIND
Pollenizer Global Pty
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Name Value proposition
INVESTORS MIND
what is it? Im
interested but sceptical.
Tell me more.
Ltd
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You may need a couple of slides...
Perspective #1 Perspective #2
INVESTORS MIND
Pollenizer Global Pty
is a massive problem to
solve and I am sceptical
that you can.
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You may need a couple of slides can you show me? Help me picture
it.
Result #1 Result #2
Pollenizer Global Pty
INVESTORS MIND
Click boom
amazing wow. Surely
others are doing it? If
Ltd
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Strong
INVESTORS MIND
factors that
Hig customers think
Low h about when
cost Cos choosing a supplier
t and how you guys
Ltd
standout
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Picture of team. Why are you the best people in the world to
deliver this?
INVESTORS MIND
Pollenizer Global Pty
making it happen.
Team member #3 Team member #4 Passionate. Unstoppable.
Why you? Why you?
Sounds like you are but
wheres the proof?
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DONE DOING NEXT
INVESTORS MIND
on it or not.
Short timeframe
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Whats in it for both sides? When?
INVESTORS MIND
involved.
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Restate UVP?
Option #1
Pollenizer Global Pty
INVESTORS MIND
Option #2
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What
are you
asking
for and
why?
What
are the
Pollenizer Global Pty
funds
require
d for?
Ltd
Who
will
give
you
this
money
and
why?
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We To We O
nee disco can w
d to ver... reac n
mee h er
t... them
by...
Pollenizer Global Pty
Ltd
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People we need to meet and our sales approach
We Appro We O
nee ach... can w
d to reac n
mee h er
t... the
m
Pollenizer Global Pty
by...
Ltd
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As a... As a... As a...
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What will you build? (MVP) What will they do that you can
measure?
e.g.
Online form
Pollenizer Global Pty
What will you build? (MVP) What will they do that they can
measure?
Ltd
IDEA 2
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from each team member.
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Weekly cadence.
What
surpris
ed
you?
What
have
Pollenizer Global Pty
you
chang
ed?
Ltd
What
do you
need
to find
out?
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Agenda items
LESSONS LEARNED
Other...
v GROWTH WITH STARTUP SCIENCE
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