IIITH

Technology Product Entrepreneurship:

Product market Fit
2018
 OUTLINE

W1-Ideas W3-Problem W4- Solution W5- Value

•Evaluating Ideas 101 •Who. Why. What. When •How. Why better. proposition
W2- Idea reviews
•Idea Stretching (& pick •Present alternatives. •Differentiation?
one) Gaps
W6
hack
pitch pitch

W7- W8- Customer W9- Design thinking W10- Competition &

Frameworks/Models discovery •User centric thinking USP
W11- Review with
•Lean canvass;…. •Who are the customers. •. Center faculty
Customer env W12
hack
• Segments. .
pitch pitch

W13- Customer
Development W14- Revenue W16- Tech
W15- Biz Plans W17- Pitch Basics
•GTM plans et al models Architecture
•Chasm framework W18
PITCH
pitch pitch pitch DEMOP
 Incrementally build your startup
Students will apply the learning on your tech product idea and create a venturable product and plan; in a
workshop mode thru extensive hands on assignments concurrent with course modules..
Technical
Design Thinking: Architecture
Frameworks & Assignment: considerations:
Models: Rapidly create Assignment:
Assignment: and refine the Study 2 similar
Introduction : Assess product solutions in
Assignment: opportunity for functionality for Sales & Market market and
Create startup the ideas. And the teams Strategy: compare/contrast
website; Vision; pick the product using Assignment: tech architecture
Basic Positioning “venturable design thinking Evolve the GTM used by your
statement; business.” process plans product

Creativity & Customer Customer Business Plans:

Innovation: Discovery/Opport Development: Assignment:
Assignment: unity mapping: Assignment: Completed,
Based on team’s Assignment: Competitive defensible,
tech idea Apply Lean Positioning; business model
considered, list 3 Startup Assignment: canvass;
product Methodology, and Update Product Assignment:
possibilities, Validate customer functionality Product roadmap-
applying Idea interest, need & capturing the market &
hexagon … ; Assignment: competitive technical, GTM Tech Product
framework. First cut of proposition plans, revenue Pitch/Plan
Musiness Model projections presentations
Canvass filled in
When a great team meets a lousy market, market wins.
When a lousy team meets a great market, market wins.
When a great team meets a great market, team wins.
 Why Product should FIT Market

Customers will
Customers have a Present solutions Your product
use it and pay for
need do not address solves the need
it

In a great market -- a market with lots of real

potential customers -- the market pulls product
out of the startup.
Examples of FIT, and NOT

The Good The Not so

Startups good
A definition

A value hypothesis is an attempt to articulate the key assumption that underlies why a
customer is likely to use your product.
Identifying a compelling value hypothesis is what I call finding product/market fit.
A value hypothesis identifies the features you need to build, the audience that’s likely to care,
and the business model required to entice a customer to buy your product.

by Tren Griffin

https://a16z.com/2017/02/18/12-things-about-product-market-fit/
Value(Product)- Customer(Market) fit
The Value-customer FIT canvass

https://steveblank.com/2014/10/
Uber..
 Our Product/Value – Customer/ Market Fit

Gain generators Gains

• Accurate measurements using • Ambulatory Heart monitoring

ECG and PPG signal • Faster emergency services
• GSM based alerting • Avoid life loss
Blood • GPS based location tracking in • Accurate Health data
Customer jobs
pressure case of emergency • Measure BP and
and heart heart rhythm
rhythm • Alert in case of
Monitoring Pains emergency
and alerting Pain relievers • Tissue damage • Provide doctor
• Discomfort due to with accurate and
system 24/7 data
• Cuff less monitoring cuff-based monitors
• Continuous monitoring with high • White coat effect
sampling time to capture the instant of • Reaction time in
emergency case of emergencies
• No dependence on the position of • Erroneous results
hand due to bad position

Value Map Customer Profile

 Exercises
W0: Intro: 3 interesting tech
product ideas.
What/why/how. Tech
involved.
W1: Customer discovery :
Use template to Assess 3
ideas. Pick one.
W7: Design thinking- test
usage:Get user feedback on
UI. Update UX. Biz Model
Canvass #3
W6: Design thinking: UX
flows first cut
REFERENCE (as needed, use)
# Session Topics Invite Act Exercises
d talk ivit
W8: Tech Architecture: First W15: Biz pland and pitching: topic y
cut of technology approach Create investopr pitchh What's a good . . . 1.Five Qs by Ed Rubesch
idea (http://slideplayer.com/slide/8055031/)
Understanding . . 2.POEM framework
the problem (http://smarterstartup.org/framework/startup-
scorecard/ )
Value . . . 3.Value Proposition canvass- Customer view
proposition (https://strategyzer.com/canvas/value-proposition-
W9: GTM Channels: List canvas)
various channels to sell. Solution, and . . 4.Value Proposition canvass- Product view
W14: Web cloud scale how it helps.
Evolve first cut of GTM (https://strategyzer.com/canvas/value-proposition-
sofwtare technology canvas)
strategy. BizModel Canvass
#4 Competition and . . . 5.Initial worksheet: TBD/Radhika
USP 6.Final report on Porters 5 force framework.

Customer . . . 7.Segments, Channels & relationships of Biz

segments, value model canvass
and GTM

W2: Idea Hexagon: Generate W5: Competitive assessment Where is the Revenue models . . 8.Biz Model canvass.
W10: Test GTM: Field test W13: Marketing plan: Social money (Pricing, & unit revenue 9.
3 ideas per dimension (total : User survey and competitive Total market & considerations.
(users/prospects) GTM plan. media plan. And othe rinitial Pre-work: Finance workbook. (TBD/Radhika)
18 ideas). Pick 3 best (based report . Biz Model canvass addressable
Biz Model Canvass #5 marketing activities details
on W2 Customer Discovery #2. market ) Costs, unit costs
and operations
costs..
..vis a vis unit
revenue

W12: Qtr Wise plans (4 qtr): Biz model Biz Model . . 10.Exercise: Biz model canvass?
canvass and Canvass
W3: LSM Rapid Validation: W11: Sales Strategy: Evolve Overall outcomes; Product
W4: Biz Model Canvass: Fill in pitching Target for the pitch
Test Hypothesis on the 3 first customer, first qtr and plan; Mktg plans; sales (invetsors,
biz model canvass for the
ideas using LSM validation. beyond sales plan. Biz Model activities; Revenue customers,..)
idea What do they look
Pick 1 Canvass #6 expectation; Team/people
for?
plans Whats a good
pitch
Demo Day