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Customer Development in 54 Hours

All Action, Out of the Building

This Talk is Based On The Four Steps to the Epiphany

This Talk is Based On The Startup Owners Manual

The Reference Manualfor Entrepreneurs


Three Tools For Startups

All I Need to Do is Execute the Plan

No Business Plan Survives First Contact With Customers

What’s the Weekend Idea?

Business Model

HypothesesTest Problem Test Solution

• MVP• Customers

• Does Anyone Care? • Do they Like It?• How will you Get/Keep/ Grow Them?

Startup Tool #1: Agile Development

Agile Development is How We Build Startups

Startup Tool #2: The Business Model

The Business Model:

Any company can be described in 9 building blocks

sketch out your business model

KEYPARTNERS

VALUE PROPOSITION

CHANNELS

CUSTOMER RELATIONSHIPS

CUSTOMERSEGMENTS

REVENUE STREAMSCOST STRUCTURE

KEYACTIVITIES

KEYRESOURCES

16

buildingblock

buildingblock

buildingblock

buildingblock

building

block

buildingblock

buildingblock

building

block

buildingblock

buildingblock

buildingblock

Business Model Canvas – Any Business

building

block

General methodology for

adding fluorine to lead compounds of

interest

Accessibility (RCY)PuritySpeedPET/SPECTMultiplatformSensitivity (nca)Specific compounds

IPPoP dataRegulatory planUnderstanding of the regulatory process

Contract cGMP precursor manufactureSalary, RentsClinical trials

SOPs for precursors and drugsRecruit clinical sitesIn vivo animal studiesDevelop regulatory plan for pre IND meetingID cGMP CROFund-raising

Nuclear Medicine and Radiology departments

Technical Assistance (Image Atlas)FDA regulatory support

Radiopharmacies

Equipment producers

Prescribing physicians

Radiologist who perform studies

Sales of intermediates

Technology license

Product license (royalty)

Drug developersPharmaceutical development companies

IPPoP data

Radiologists

Technical assistancecGMP manufacturersRadiopharmacies

Direct sales of precursor

Sales of packaged precursor in cassettes

Cassette manufacturers



interest







Radiopharmacies

Equipment producers




Technology license



IPPoP data

Radiologists





CustomerSegments

Value Proposition



interest







Radiopharmacies

Equipment producers




Technology license



IPPoP data

Radiologists





CustomerSegments

Value Proposition

Product/Market Fit



interest







Radiopharmacies

Equipment producers




Technology license


Drug developers

Pharmaceutical development companies

IPPoP data

Radiologists





CustomerSegments

Get, Keepand Grow

Channel



interest







Radiopharmacies

Equipment producers




Technology license


Drug developers


IPPoP data

Radiologists





Who Are Our Customers?How Do We Reach Them?

CustomerSegments

Get, Keepand Grow

Channel



interest







Radiopharmacies

Equipment producers




Technology license


Drug developers


IPPoP data

Radiologists





Costs Revenue



interest







Radiopharmacies

Equipment producers




Technology license


Drug developers


IPPoP data

Radiologists





How Do We Make Money?

Costs Revenue

9 Guesses

Guess Guess

Guess

Guess

GuessGuess

Guess

GuessGuess

Startup Tool #3: Customer Development

Customer Development is How We Search for the Business Model

CUSTOMER DEVELOPMENT

Lesson 3

Customer Development

There are no facts inside your building

So get the heck out

Customer Development is how you search for the model

CompanyBuilding

Customer Creation

Execution

Customer

Discovery

Customer

Validation

Pivot

Search


Customer

Discovery

Customer

Validation

Pivot

Search

The Search For the Business Model


CompanyBuilding

Customer

Discovery

Customer

Validation

Customer Creation

Pivot

Execution

• Articulate and Test your hypotheses• Design experiments, start listening• Continuous Discovery• Done by founders

Customer Discovery

CustomerDiscovery

CustomerValidation

CompanyBuilding

CustomerCreation

Execution

Search

Pivot

Discovery

• How big is the market?• Who’s the customer?

– What’s their problem/need

• What’s the product/service/need?– Does it solve the customers problem?

• How do you create demand?• How do you deliver the product?• How do you make money?

Customer Development =process to search

Business Model Canvas =the Scorecard

Agile Engineering is How We Build Startups

•Research Labs•Equipment Manufacturers•Distribution Network•Service Providers

•Technology Design•Marketing•Demo and customer feedback

•Cost Reduction•Remove labor force pains•Eliminate bio-waste hazards

•IP – Patents•Video Classifier Files•Robust Technology

•Farming conventions.•Demo, demo, and demo!!•Proximity is paramount

•Organic Farmers•Weeding Service Providers•Conventional Farmers•Dealers

•Direct Service•Indirect Service• … then Dealers

•Asset Sale•Direct Service with equipment rental•… then Asset Sale

Value-Driven

Customer Validation

Customer

Discovery

CustomerValidatio

n

Customer Creation

CompanyBuilding

• Repeatable and scalable business model?

• Passionate earlyvangelists?

• Pivot back to Discovery if no customers

Pivot Execution

Search

The Minimum Viable Product (MVP)

• Smallest feature set that gets you the most …

- orders, learning, feedback, failure…

- incremental and iterative

Hypotheses Testing and Insight

The Pivot

• The heart of Customer Development

• Iteration without crisis

• Fast, agile and opportunistic

Customer

Discovery

Customer

Validation

Pivot

Search

Pivot Cycle Time Matters

• Speed of cycle minimizes cash needs

• Minimum feature set speeds up cycle time

• Near instantaneous customer feedback drives feature set

CustomerDiscovery

CustomerValidation

CompanyBuilding

CustomerCreation

ExecutionSearch

Pivot

The Startup Owners Manual

• The Reference Manual for Entrepreneurs

• Separate Web/Mobile versus Physical tracks

Web/Mobile Versus Physical

• Web/Mobile startups run faster

• Different process steps for web vs. physical

• Customer Relationships are radically different

Customer

Discovery

Customer

Validation

Pivot

Customer Discovery Phase 1 & 2

Customer Relationships

Customer Relationships Physical Products – Get Customers

© 2012 Steve Blank

Customer Relationships Physical Products – Keep Customers

© 2012 Steve Blank

Customer Relationships Physical Products – Grow Customers

© 2012 Steve Blank

Customer Relationships Physical Products – Get/Keep/Grow

© 2012 Steve Blank

Customer Relationships Web/Mobile Products– Get Customers

© 2012 Steve Blank

Customer Relationships Web/Mobile Products– Keep Customers

© 2012 Steve Blank

Customer Relationships Web/Mobile Products– Grow Customers

© 2012 Steve Blank

Customer Relationships Web/Mobile Products Get/Keep/Grow

© 2012 Steve Blank


All Action, Out of the Building

Customer Development In Action

Genesis of the Idea

Business Model Canvas

Assumption of Customer PainPeople were even more

frustrated with parking at big

events.

Parking is a pain! People want a

guaranteed parking spot.

People DO want a guaranteed spot & would

reserve online.

200+ customers Bigger Pain

PIVOT!

80% positive response

Assumption of Customer PainPeople were even more


events.




reserve online.


People will pay extra to have a

great, guaranteed parking spot.

People will not only pay more,

they will pay a lot more! ($9+)

Validated!

Surveyed 75+ Customers

PIVOT!

64

Customer Survey/Validation

• How much more would you be willing to pay to have a guaranteed close parking spot in the arena's lot or near the arena?– On average- $9.33– Max of $27.00

Assumption of PainPeople were even more


events.




reserve online.


People will pay extra to have a

great, guaranteed parking spot.

People will not only pay more,

they will pay a lot more! ($9+)

Validated!

Surveyed 75+ Customers

People who have extra spaces will post spots and make money.

It is difficult to get a mass number of

people to post enough parking

spots.

We needed to find a new solution.

30+ People

PIVOT!

PIVOT!

Expert Validation

• Tom Lombardi and Greg Bessoni– Online parking reservation experts

Partnered with me and put up

capital.

New AssumptionsParking lots will

post spots online so that people

can reserve them.

Yes! Lots have been looking for ways to increase revenue and fill

up lots.

30+ Parking Lots Bigger Pain

Electronic payments in

advance through an online

reservation system.

Validated!

30+ Parking Lots

20% of cash goes missing.

Loved it! Would pay about 15% of

posted price.

75% positive response

Industry Validation

MVP ValidationEasier ways to post parking &

track reservations.

Started with a very basic

reservation system.

All Pro Parking (30 lots)

30+ person focus group Search process

was too hard. Wanted mobile

site as well.

Fixed search, cleaned up site,

mobile site in the works.

Made it even easier to post

and track parking.

All Pro Parking’s

Customers

With no marketing-

50 reservations in just a few

months.

Our Model

$5 Reservation Fee

15% of Price Paid

XoomPark

We estimate being able to collect about $8 per reservation

Go to Market Strategy & ValidationTalked to Tom

Lombardi, industry expert.

Lots located throughout Florida and in Dallas,TX

Lots located all over West Coast and Texas

Parking lots in all 50 states

Over 250 lots throughout Eastern US.

25+ years experience

Go to Market Strategy & Validation

Tom and Greg’s Affilate Networks

3,000 Affiliates

Go to Market Strategy & Validation

Customer’s recommendations

for the future

Focus group of

30+ people

Market Size

$8.2 Billion USA Parking Industry

$4.5 Billion Parking Facility/Management

$1.4 Billion Event Parking

$240,000 Buffalo and Atlanta

TAMSAMTarget

Market

Apex

Competitors

Usability

Reliability

Low High

High

Low

Parkwhiz

ParkingCarma

GottaPark

ClickandPark

Revenue Projections

Year 1 Year 2 Year 3 Year 4$0$2$4$6$8

$10$12$14$16$18$20

Revenue

Revenue in Mil-lions

70% Gross Profit Margin

• 2 Partners• 30+ Parking lots• 50+ Reservations• Working Website

• Validated Revenue Model

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