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    MGMT3004 Wk5 230322

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    Lee
    This document provides an overview of lean entrepreneurship principles including the business model canvas and customer validation techniques. It discusses Steve Blank's influence on lean startup methodology and emphasizes building minimum viable products and testing hypotheses through experimentation. Examples like PayPal, Google, and Kodak are presented to illustrate different outcomes from pivoting a business model. Validation strategies like MVP testing, the pitch method, and A/B testing are explored.

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    MGMT3004 Wk5 230322

    Uploaded by

    Lee
    13 views33 pages
    This document provides an overview of lean entrepreneurship principles including the business model canvas and customer validation techniques. It discusses Steve Blank's influence on lean startup methodology and emphasizes building minimum viable products and testing hypotheses through experimentation. Examples like PayPal, Google, and Kodak are presented to illustrate different outcomes from pivoting a business model. Validation strategies like MVP testing, the pitch method, and A/B testing are explored.

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    MGMT3004, Week 5, Lecture Slides

    Original Title

    MGMT3004_Wk5_230322

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    This document provides an overview of lean entrepreneurship principles including the business model canvas and customer validation techniques. It discusses Steve Blank's influence on lean startup methodology and emphasizes building minimum viable products and testing hypotheses through experimentation. Examples like PayPal, Google, and Kodak are presented to illustrate different outcomes from pivoting a business model. Validation strategies like MVP testing, the pitch method, and A/B testing are explored.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    13 views33 pages

    MGMT3004 Wk5 230322

    Uploaded by

    Lee
    This document provides an overview of lean entrepreneurship principles including the business model canvas and customer validation techniques. It discusses Steve Blank's influence on lean startup methodology and emphasizes building minimum viable products and testing hypotheses through experimentation. Examples like PayPal, Google, and Kodak are presented to illustrate different outcomes from pivoting a business model. Validation strategies like MVP testing, the pitch method, and A/B testing are explored.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 33

    Unit Coordinator

    Dr Philip Ely

    1
    Acknowledgement to Country
    Week 5: Lean Entrepreneurship
    (Chapter 7 of Frederick et al, 2019)

    3
    Steve Blank’s influence

    This Photo by Unknown Author is licensed under CC BY-NC-ND This Photo by Unknown Author is licensed under
    CC BY-SA-NC

    4
    https://videos.files.wordpress.com/X6NDDffi/the-startup-owners-manual-sxsw- 5
    sync_hd.mp4
    Business Model Canvas

    Business Model Canvas, available from Strategyzer.com


    6
    7
    • Lean
    Entrepreneurship
    THE • Revisit
    BASICS • Build-Measure-Learn
    • Validated Learning
    PIVOT,
    PERSEVERE
    OR PERISH
    MODERN EXAMPLES

    PayPal Google Kodak

    Blockbuster Iridium
    Infographics

    Explainer Video
    VIRTUAL
    MVPS Landing Page

    Crowdfunding
    • High Fidelity
    LIVE
    • Low Fidelity
    TESTING
    • Wireframe
    Michael Momsen - RateIt

    • A former Guest Entrepreneur of


    MGMT3004 shared the development of his
    customer experience app. RateIt (
    https://www.rateitapp.com/);
    • He created a minimal (very!) viable product
    for validation purposes
    Mock-ups of Michael Momsen’s RateIt App
    Mock-ups of Michael Momsen’s RateIt App
    Fake Evidence
    (‘Quick & Dirty’ Prototype)
    Interactive Newsprint

    Frohlich, David M., Philip Ely, Helen Moore, Connie Golsteijn, Paul Egglestone, John Mills, Jon Rogers, Tom Metcalf, Kate Stone, and Maria
    Menicou. 2017. “Designing Interactive Newsprint.” International Journal of Human-Computer Studies 104 (February): 36–49.
    https://doi.org/10.1016/j.ijhcs.2017.03.002.
    Interactive Newsprint

    Frohlich, David M., Philip Ely, Helen Moore, Connie Golsteijn, Paul Egglestone, John Mills, Jon Rogers, Tom Metcalf, Kate Stone, and Maria
    Menicou. 2017. “Designing Interactive Newsprint.” International Journal of Human-Computer Studies 104 (February): 36–49.
    https://doi.org/10.1016/j.ijhcs.2017.03.002.
    Interactive Newsprint

    Frohlich, David M., Philip Ely, Helen Moore, Connie Golsteijn, Paul Egglestone, John Mills, Jon Rogers, Tom Metcalf, Kate Stone, and Maria
    Menicou. 2017. “Designing Interactive Newsprint.” International Journal of Human-Computer Studies 104 (February): 36–49.
    https://doi.org/10.1016/j.ijhcs.2017.03.002.
    MVP Testing
    Metrics

    Source:
    Stean, J & Yee, J (2018) Interaction
    Design: From Concept to
    Completion, Bloomsbury: London
    MVP Testing

    Source:
    Stean, J & Yee, J (2018) Interaction
    Design: From Concept to
    Completion, Bloomsbury: London
    MVP Testing

    Source:
    Stean, J & Yee, J (2018) Interaction
    Design: From Concept to
    Completion, Bloomsbury: London
    MVP Testing

    Source:
    Stean, J & Yee, J (2018) Interaction
    Design: From Concept to
    Completion, Bloomsbury: London
    HYPOTHESIS-DRIVEN
    ENTREPRENEURSHIP

    DISCOVERY- PRODUCT- MARKET FIT VALIDATION THE RISKIEST


    DRIVEN PLANNING SOLUTION BOARD ASSUMPTION
    EXPERIMENTAL VALIDATION
    Pitch Method

    Concierge Method

    A/B Testing

    Pre-ordering
    Why Pivot?

    Negative
    Uncompetitiv Technology Investor Flawed
    Customer Unscalable
    e Challenges Pressure Modelling
    Response
    Zoom-in Zoom-out

    Customer Customer
    TYPES OF Segment Needs

    PIVOTS Business
    Channel
    Model

    Technology
    THE LEAN
    CANVAS
    Using the Lean Canvas
    Useful References:
     Blank. (2013). “Why the lean start-up changes everything”. Harvard Business Review, 91(5),
    64–.
     Blank. (2012). The startup owner’s manual. Vol. 1 : the step-by-step guide for building a great
    company (Dorf, Ed.). K&S Ranch Inc.
     Osterwalder. (2010). Business model generation : a handbook for visionaries, game changers,
    and challengers (Pigneur & T. Clark, Eds.). John Wiley & Sons Inc.

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