Design-led approach for startup success

DESIGN-LED APPROACH TO STARTUP SUCCESS QGLUE FOR STARTUPS

Your Design Led Innovation Partner

S T AR T UPS F AIL. Since startups face high uncertainty and risks, they have high failures and mortality rates.

Nearly, 90% of startups fail in the first 5 years.

WHAT IS A STARTUP?

WHO IS AN ENTREPRENEUR?

A startup or start-up is an undertaking by an entrepreneur to seek, develop, and validate a scalable business model. Startups refer to new businesses that intend to grow large beyond the solo founder.

Entrepreneur is a person who sets up a business or businesses by taking on risks in the hope of generating value.

Your Design Led Innovation

WHY DO STARTUPS FAIL?

But a vast majority of reasons are mitigable by leveraging design-driven approach which offers the right guidance, tools & methods, and support.

Your Design Led Innovation

Design thinking is not just about thinking and building. It about building to think by pursuing a human-centered design to receive and incorporate feedback directly from the customer.

By taking a design driven approach for startups you can : Rapidly identify and gain new insights across various opportunity settings, Develop a portfolio of opportunities.

Learn to drive innovation across the organisation through small experiments.

These tools are provided to guide you in taking up a design-driven approach to your startup journey. You need to use these tools

Your Design Led Innovation

This book is a property of QGLUE.

Tools provided here are not a replacement for traditional tools. The purpose of these tools and this workbook is to cultivate a design-driven approach to drive success in startup development.

These tools and methods have been designed and collated to be used along with your financial, marketing, sales, business development tools and methods.

Your Design Led Innovation

HOW TO USE THIS WORKBOOK

USE YOUR HANDS This helps you increase visual, and analytical thinking skills along with enabling open discussion and collaboration within your team.

TRUST THE PROCESS The process has been designed to cater to various needs of the founders and tested to work.

KNOW THAT THERE IS NO RIGHT OR WRONG You experiment and test at each phase of the journey. There is no defined answers or directions.

Your Design Led Innovation

MINDSETS FOR SUCCESS.

STRATEGIC OBJECTIVES

TEAM PLAYER

CUSTOMER EMPATHY

MACRO & MICRO VIEWPOINT

CULTURE OF INNOVATION & EXPERIMENTATION

Your Design Led Innovation

Startups ignore customers and their needs and in the end find that their products / services have no market demand.

HOW MIGHT WE ENSURE THAT YOU BUILD PRODUCTS CUSTOMERS WILL BUY?

Your Design Led Innovation

Founders focus on building products and lose out due to lack of competitive or unique business models.

HOW MIGHT WE HELP YOU BUILD VIABLE & INNOVATIVE BUSINESS MODELS?

Your Design Led Innovation

Startups run out of cash and steam due to inefficient and ineffective allocation of resources.

HOW MIGHT WE HELP YOU INCREASE THE RUNWAY FOR SUCCESS?

Your Design Led Innovation

MY NAME IS _________ A SKETCH OF MYSELF Draw as a cartoon character.

Expose your true self

MY SUPERPOWERS

MAGIC WAND

Sketch of your strengths in a fun way

Sketch what you want to improve on in a fun way

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MY COFOUNDER ____________________ SUPERPOWERS

MAGIC WAND

Sketch of your cofounder's strengths in a fun way

Sketch areas your cofounder needs to improve on in a fun way

MY COFOUNDER ____________________ SUPERPOWERS

MAGIC WAND

Sketch of your cofounder's strengths in a fun way

Sketch areas your cofounder needs to improve on in a fun way

MY COFOUNDER ____________________ SUPERPOWERS

MAGIC WAND

Sketch of your cofounder's strengths in a fun way

Sketch areas your cofounder needs to improve on in a fun way

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THE PROBLEM I AM SOLVING __________________________ __________________________ __________________________

IDEA I WANT TO PURSUE __________________________ __________________________ __________________________

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DESIGN-LED STARTUP APPROACH

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PHASES OF THE JOURNEY 1. FOUNDER - VISION FIT Business vision is conceptualised around the idea and the team is assess on their capability to realise that vision

2. PROBLEM - OPPORTUNITY FIT Identify the right problem, customer groups & stakeholders, and conceptualise the early solution

3. OPPORTUNITY - SOLUTION FIT Identify the requirements, tasks to be completed, pains, gains, and build MVP, to validate hypothesis, and through iterations create products

Your Design Led Innovation

PHASES OF THE JOURNEY 4. PRODUCT - MARKET FIT Defining the customer segments and create the value creation process, the value capture and the delivery mechanisms.

5. PRODUCT – BUSINESS FIT With the products and customer groups at the core, you start envisioning the business model and the longer-term financial models that is sustainable for the business.

6. VENTURE EVOLUTION The venture is created with a steady and repeatable revenue model that is validated and proven to work over repeated customers.

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1 FOUNDER - VISION FIT

Your Design Led Innovation

INTENT OF THIS PHASE GOING F R OM

DO YOU HAVE THE PASSION AND A TEAM TO PURSUE YOUR VISION?

TO AC HIE V E THE OUTC OME

WE ARE EQUIPPED TO PURSUE AND REALISE OUR VISION.

Your Design Led Innovation

TOOLS USED IN THIS PHASE

STRATEGIC ASSESSMENT CANVAS UNDER STAND YOUR V ISION

ENTREPRENEUR’S DNA BUIL DING A BAL ANC ED TEAM PR OF IL E

TEAM ASSESSMENT CANVAS AL IGNING THE TEAM

[ ENVISION | DOCUMENT | REFLECT ]

Your Design Led Innovation

1 (A)

STRATEGIC ASSESSMENT CANVAS UNDERSTAND THE VISION

What is this tool for?

A canvas focused on assessing the founder, the team and the key requirements, resources, and risks that are required to realise the vision.

What is this about?

STEP 1 - Get your team together and describe the vision as crisply as possible STEP 2 - Identify the purpose for your startup's existence STEP 3 - Define what is the playing field like and what will make you stand out.

STEP 4 - Identify resources, investments, and conditions to be met to succeed

PR O T IPBrainstorm with the team to get better results.

Your Design Led Innovation

1 (A)

STRATEGIC ASSESSMENT CANVAS UNDERSTAND THE VISION

WHAT IS MY V ISION?

WHAT IS THE PUR POSE OF EX ISTENC E F OR THE STAR TUP?

WHAT IS TH E PL AYING

WHAT DO I NEED TO GE T

F IEL D & HOW WIL L I

THE R E?

ST AND OUT?

Your Design Led Innovation

1 (B)

ENTREPRENEUR’S DNA BUILDING A BALANCED TEAM PROFILE

What is this tool for?

The BOSI Quadrant defines four different types of ‘entrepreneurial DNA’ Builder, Opportunist, Specialist, Innovator.

The quadrant is designed to segment entrepreneurs into 16 different combinations based on the 4 types of ‘DNA’, matching their specific business and personality traits, and all lead down different paths to success. Each individual quadrant describes a type of “entrepreneur”, and often success requires a company filled with more than one if not all of these different personalities.

How do I use this tool?

STEP 1 - Visit: https://www.bosidna.com/assessment STEP 2 - Click on the “Take the Online Test’’ button STEP 3 - Answer all the question to get your assessment.

STEP 4 - Discuss your DNA with your team and see how you compliment and balance each other

MY PERSONALITY DNA IS

SOURCE: https://www.businessballs.com/self-awareness/bosi-quadrant-of-entrepreneurial-dna/ https://bosidna.com/

Your Design Led Innovation

1 (B)

ENTREPRENEUR’S DNA BUILDING A BALANCED TEAM PROFILE

MY COFOUNDER DNA IS

HIS ROLE IN THE TEAM

MY COFOUNDER DNA IS

HIS ROLE IN THE TEAM

MY COFOUNDER DNA IS

HIS ROLE IN THE TEAM

Your Design Led Innovation

1 (C)

TEAM ASSESSMENT CANVAS ALIGNING THE TEAM

What is this tool for?

As a leader or facilitator, the team canvas lets you bring team members together, clarify their goals, figure out their motivations and help them to be more aligned and productive towards the business vision.

How do I use this tool?

STEP 1 - Bring your team together STEP 2 - Get them to jot down the goals, aspirations, motivations, personality traits STEP 3 - Ask them to mark their stick notes with unique icons STEP 4 - Once everyone is done, discuss with the larger team to align individual responses with the business purpose and vision.

SOURCE: http://theteamcanvas.com/

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ALIGNING THE TEAM

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

1 (C)

TEAM ASSESSMENT CANVAS

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2 PROBLEM - OPPORTUNITY FIT

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INTENT OF THIS PHASE

GOING F R OM

IS IT WORTH SOLVING THIS PROBLEM?

TO AC HIEV E THE OUT C OME

THIS IS THE RIGHT OPPORTUNITY.

Your Design Led Innovation

TOOLS USED IN THIS PHASE

CUSTOMER RESEARCH EMPATHISE WITH Y OUR C USTOMER S & USER S

PROBLEM VALIDATION ASSESSING THE PR OBL EM

OPPORTUNITY IDENTIFICATION HOW MIGH T WE STATEMENTS

[ RESEARCH | DISCUSS | REFLECT ]

Your Design Led Innovation

2(A)

CUSTOMER RESEARCH EMPATHISE WITH YOUR CUSTOMERS & USERS

What is this tool for?

Customer research is conducted so as to identify customer segments, needs, and behaviors. It focuses on simple demographics of an existing or potential customer group (such as age, gender, and income level) and seeks to decode various behaviors and motivators that drive customer decisions towards a product’s use or purchase.

What is this about?

STAKEHOLDER MAPPING

to identify the stakeholder associated with a particular use case or problem.

EMPATHY MAP

to understand the stakeholders at a deeper level and decode their decision making process.

PERSONAS & USE CASE

to understand the right customer and how the challenge impacts them.

JOURNEY MAPPING

to identify pain points and key touchpoints as experienced by the customer.

PR O T IPAs a best practise, we recommend that you all the four steps to gain insights on the customer.

Your Design Led Innovation

2(A1)

STAKEHOLDER MAPPING DISCOVER STAKEHOLDERS FOR THE CHALLENGE

What is this tool for?

To help teams discover, refocus on material stakeholders who have a bearing in the desired future state. By so doing team votes and agrees on one stakeholder to take forward for further exploration

What is this about?

STEP 1 - Put your challenge in the center of the template.

STEP 2 - Identify at least 3 key stakeholders, whose perspective you need to consider. These could be internal as well as external. These could also be two types of same stakeholder for instance Large SI’s, New Cloud SI’s.

STEP 3 - Discover each stakeholder's needs, beliefs, desires and goals.

STEP 4 - Identify one stakeholder that you would like to take forward.

Your Design Led Innovation

2(A1)

STAKEHOLDER MAPPING DISCOVER STAKEHOLDERS FOR THE CHALLENGE

Stakeholder

Stakeholder

Key stakeholder

Challenge

Stakeholder

Stakeholder

Stakeholder

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

2(A2)

EMPATHY MAPPING UNDERSTANDING THE CUSTOMER BEHAVIOUR

What is this tool for?

This tool helps the team to understand the customer better by decoding the thinking process behind their decisions, behaviours, interactions and experiences.

What is this about?

STEP 1 STEP 2 -

STEP 3 -

STEP 4 -

Refer to the previous canvas, and talk to the stakeholders.

Document information on how the perceive information and insights when they are trying to complete the tasks.

Fill the template with specific information as per the category Derive insights by mapping data from many users and

PR O T IPAs a best practise, we recommend that you do this step for all stakeholders.

Your Design Led Innovation

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

UNDERSTANDING THE CUSTOMER BEHAVIOUR

STAKEHOLDER :

NO OF PEOPLE RESEARCHED :

2(A2)

EMPATHY MAPPING

Your Design Led Innovation

2(A3)

PERSONAS & USE CASE UNDERSTANDING THE CUSTOMER & THE CHALLENGE

What is this tool for?

To be aware of the different preferences, attributes and beliefs that these different personas have, so as to better meet their needs.

What is this about?

STEP 1 - Refer to the previous stakeholder map and transfer the required Post it notes for the choosen stakeholder.

STEP 2 - Use template to develop a shared understanding of stakeholders and the eco system with which they interact.

STEP 3 -

Fill in the template with the details on the stakeholder.

STEP 4 - Add any further information if neccessary.

PR O T IPAs a best practise, we recommend that you do this step for all stakeholders.

Your Design Led Innovation

2(A3)

PERSONAS & USE CASE UNDERSTANDING THE CUSTOMER & THE CHALLENGE

ST AKEHOL DER PR OF IL E Who is your stakeholder What are their unique characteristics, beliefs and traits Describe their roles, motivations and expectations

TASKS TO C OMPL ETE

DESIR ED OUTC OMES

What is the task that needs to be completed?

What resources are needed to do the task?

What is the desired outcomes?

What are the metrics for success, and what defines failure?

What factors can influence the outcome?

USE C ASE When and where does the stakeholder experience the problem What are the expectations and mindset of the stakeholder?

What resources / people are utilised?

C ONSTR AINTS

PAIN POINT S

What technological or cultural limitations exist?

What adoption barriers need to be considered?

What are the perceived pains?

When does the customer face the pains?

What is causing the pains?

What is the impact of the pains?

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

2(A4)

JOURNEY MAPPING IDENTIFYING THE PAIN POINTS & TOUCHPOINTS

What is this tool for?

A user journey map is a visualization of the process that a user/ stakeholder goes through in order to accomplish a need. It’s used for understanding and addressing customer needs and pain points.

What is this about?

STEP 1 - Journey mapping starts by compiling a series of user goals and actions into a timeline skeleton.

STEP 2 - Understand user thoughts and emotions during time and environment in order to accomplish a goal tied to a specific business or product STEP 3 - Visualize to identify specific user journey touchpoints that cause pain or delight STEP 4 - Capture Opportunity for change

Your Design Led Innovation

2(A4)

JOURNEY MAPPING IDENTIFYING THE PAIN POINTS & TOUCHPOINTS

Name : Personal details:

Your User

EMOTIONS

THOUGHTS

PAIN POINTS

OPPORTUNITIES

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

2(B)

PROBLEM VALIDATION ASSESSING THE PROBLEM

What is this tool for?

This tool helps assess and evaluate the problem at its deepest level and obtain qualitative and quantitative data from the stakeholders on the problem.

What is this about?

STEP 1 - Define the problem statement being validated STEP 2 - Describe the use case being explored.

STEP 3 - Talk to different stakeholders to understand the problem and get quantifiable metrics STEP 4 - Fill in the canvas.

STEP 5 - Identify the key stakeholders to prioritise on based on the insights derived

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No. of people talked to

PR OMISING C USTOMER

Type of Stakeholder

C HAL L ENGE & USE C ASE

Impact & Magnitude

Frequency & Prevalance

Motivation to Solve

Commitment to Solution

2(B) PROBLEM VALIDATION

ASSESSING THE PROBLEM

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

2(C)

OPPORTUNITY IDENTIFICATION HOW MIGHT WE STATEMENTS

What is this tool for?

HMW statements take problems & insights and convert them into opportunity statements. Framing them into opportunities or alternatives based on the insights gathered from the previous tools and speaking to the “customer”.

What is this about?

STEP 1 - Define the area you want to explore, whether it is a current problem statement, a insight you’ve gathered from research or anything else.

STEP 2 - Feel free to write and explore more than one statement.

STEP 3 - All HMW’s are put on team worksheet and only one will be taken forward.

PR O T IPHMW instigates brainstorming sessions and ideas.

Your Design Led Innovation

2(C)

OPPORTUNITY IDENTIFICATION HOW MIGHT WE STATEMENTS

R EDEF INING THE INITIAL PR OBL EM STATEMENT

HOW MIGHT WE BY

help/

providing them with

SO THEY CAN

realize a

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

3 OPPORTUNITY – SOLUTION FIT

Your Design Led Innovation

INTENT OF THIS PHASE

GOING F R OM

WHAT ARE THE POSSIBLE SOLUTIONS?

TO AC HIE V E THE OUTC OME

THIS IS THE VALUE I WANT TO OFFER.

Your Design Led Innovation

TOOLS USED IN THIS PHASE

MARKET & OPPORTUNITY ANALYSIS L OOKING AT THE L AR GER MAR KET

VALUE PROPOSITION CANAS IDENTIF YING V AL UE BEING OF F ER ED

CUSTOMER VALIDATION TESTING WITH THE C USTOMER S

[ RESEARCH | DOCUMENT | TEST ]

Your Design Led Innovation

3(A)

MARKET & OPPORTUNITY ANALYSIS LOOKING AT THE LARGER MARKET

What is this tool for?

This tool helps bring various insights together to help explore emerging opportunity based on stakeholder needs, emerging trends, technological feasibility, and innovative ideas.

What is this about?

STEP 1 - With your team bring shortlisted stakeholder needs from the previous steps STEP 2 - Scope the market for trends emerging in the horizon STEP 3 - Explore technologies and their feasibility that impacts your opportunity STEP 4 - Brainstorm with the team to come up with innovative ideas and solutions.

STEP 5 - Identify emerging intersections and overlapping themes

SOURCE: https://www.strategytools.io/strategy-tools/market-opportunity-canvas/

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LOOKING AT THE LARGER MARKET

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

3(A)

MARKET & OPPORTUNITY ANALYSIS

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3(B)

VALUE PROPOSITION CANVAS IDENTIFYING VALUE BEING OFFERED

What is this tool for?

The Value Proposition Canvas is a tool which can help ensure that a product or service is positioned around what the customer values and needs. The Value Proposition Canvas was initially developed by Dr Alexander Osterwalder as a framework to ensure that there is a fit between the product and market.

How do I use this tool?

STEP 1 - Choose a customer segment/profile and create a list of jobs according to their priority and importance.

STEP 2 - Identify your customers’ pains and their gains. Pick top 3-5 pains and gains based on their relevance and importance.

STEP 3 - Create a list of all the benefits your product or service offers to your customers.

STEP 4 - Create a list of pain relievers and a list of gain creators.

Pick top 3-5 pain relievers and gain creators that make the biggest difference to your customer.

STEP 5 - Link the value your products or services, and define how compelling and better they are than the competition.

SOURCE: https://www.strategyzer.com/canvas/value-proposition-canvas

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IDENTIFYING VALUE BEING OFFERED

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

3(B)

VALUE PROPOSITION CANVAS

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3(C)

CUSTOMER VALIDATION TESTING WITH THE CUSTOMERS

What is this tool for?

THis step helps validate proposition statement(s) with your customers. By structuring simple experiments and approaching the customers you can test critical hypothesis.

How do I use this tool?

STEP 1 - From the previous step, identify potential mix of benefits and value to create value proposition statement(s).

STEP 2 - Design the experiment by describing the hypothesis being tested, and indicate how critical it is for the idea to work.

Outline the experiment with specific testing methods, the STEP 3 - fidelity and means of testing, and who the target audience is.

STEP 4 - Define the metrics being measured and how assess how reliable the data being collected is.

STEP 5 - Define the success threshold that indicates validation of the idea. Also document any learnings that can improve the idea.

PR O T IPRunning multiple experiments can increase certainty of success.

SOURCE: https://www.strategyzer.com/canvas/ value-proposition-canvas

Your Design Led Innovation

3(C)

CUSTOMER VALIDATION TESTING WITH THE CUSTOMERS

HYPOTHESIS We believe that …………………………………………………………………...

TEST

TAR GET

to verify our hypothesis we will ………………………………………………… ………………...

with………………………………………… ………………………...

METR IC S and measure …………………………………………………………………...

SUC C ESS C R ITER IA

L EAR NINGS

We are right if ………………………………………………… ………………...

We can improve on ………………………………………………… ………………...

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

4 PRODUCT – MARKET FIT

Your Design Led Innovation

INTENT OF THIS PHASE

GOING F R OM

IS THIS A PRODUCT CUSTOMERS ARE WILLING TO PAY FOR ?

TO AC HIE V E THE OUTC OME

THIS IS THE RIGHT PRODUCT.

Your Design Led Innovation

TOOLS USED IN THIS PHASE

MINIMUM VIABLE PRODUCT SMAL L EST THING YOU C AN BUIL D

PRODUCT REQUIREMENTS DEF INING THE SC OPE OF THE PR ODUC T

[ BUILD | TEST | LEARN ]

Your Design Led Innovation

4(A)

MINIMUM VIABLE PRODUCT SMALLEST THING YOU CAN BUILD

What is this tool for?

An MVP (Minimum Viable Product) is the minimum set of functionalities that allows you to validate your product idea and assumptions with real customers. The goal of an MVP is to learn in the fastest/easiest/cheapest way if your idea is valid, and then pivot if necessary.

The concept of an MVP was initially formulated by Steve Blank and popularized in the book "The Lean Startup" by Eric Ries.

What is this about?

STEP 1 - Bring the successfully tested value proposition to this canvas.

STEP 2 - Define the assumptions, hypothesis to test the product feature set and functional elements.

STEP 3 - Describe the target customers and the success criteria to validate successful outcomes.

STEP 4 - List the desirable elements being tested. Prioritise top 3-5 elements based on customer importance, relevance, and desire.

STEP 5 - List the technology elements being tested. Prioritise top 3-5 elements based on customer feasibility, relevance, and future scope.

STEP 6 - List the viable elements being tested. Prioritise top 3-5 elements based on business objectives, importance, and relevance.

SOURCE: https://www.5dvision.com/agile-product-frameworks/mvp/

Your Design Led Innovation

4(A)

MINIMUM VIABLE PRODUCT SMALLEST THING YOU CAN BUILD

OBJEC TIV E Value proposition to which this experiment is conducted towards …………………………………………………………………... …………………………………………………………………...

HYPOTHESIS & EX PER IMENT Assumptions being validated and the methods used to validate the assumptions …………………………………………………………………... ………………………………………………………………... …………………………………………………………………... ………………………………………………………………... …………………………………………………………………...…

TAR GET C USTOMER S

SUC C ESS C R ITER IA

Capture the profile of your target customer ………………………………………………… ………………...

Metrics that will validate a successful outcome ………………………………………………… ………………...

DESIR ABIL ITY

F EASIBIL IT Y

V IABIL ITY

Test elements that make your product desirable for customers ……………………………… ……………………………… ………………………………

Test elements that make your product feasible to build

Test elements that make your product viable for business

……………………………… ……………………………… ………………………………

……………………………… ……………………………… ………………………………

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

4(B)

PRODUCT REQUIREMENTS DEFINING THE SCOPE OF THE PRODUCT

What is this tool for?

A product requirements document (PRD) defines the requirements of a particular product, including the product's purpose, features, functionality, and behavior. It serves as a guide for business and technical teams to manage the product development process by helping build, launch, or market the product.

What is this about?

STEP 1 - Describe the objective of the venture.

STEP 2 - Capture the customer needs and use case by doing a detailed breakdown on the needs, gaps and opportunities.

STEP 3 - List the assumptions and the solution concept that has been developed with the team.

STEP 4 - Define the feature set that has been validated through multiple customer interventions.

STEP 5 - Define the milestones for the product development and what is within and out of scope of this version of iteration.

Your Design Led Innovation

4(B)

PRODUCT REQUIREMENTS DEFINING THE SCOPE OF THE PRODUCT

OBJEC TIV E OBJEC TIV E

TAR GE T C USTOMER S

USE C ASE

ASSUMPTIONS

SOL UTION

F EATUR ES &

MIL E STONE S

F UNC TIONAL ITIES

OUT OF SC OPE

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

5 PRODUCT – BUSINESS FIT

Your Design Led Innovation

INTENT OF THIS PHASE

GOING F R OM

WHAT IS MY BUSINESS MODEL?

TO AC HIE V E THE OUTC OME

THIS IS HOW WE ENGAGE WITH CUSTOMERS.

Your Design Led Innovation

TOOLS USED IN THIS PHASE

BUSINESS MODEL CANVAS MODEL L ING THE BUSINESS

CUSTOMER ACQUISITION TESTING WITH THE C USTOMER S

[ MODEL | EXECUTE | ACQUIRE ]

Your Design Led Innovation

5(A)

BUSINESS MODEL CANVAS MODELLING THE BUSINESS

What is this tool for?

The Business Model Canvas is a strategic management template used for designing new business models and mapping existing ones. It offers a visual model that replicate the macro elements of a firm's core activities, enabling strategists to illustrate potential trade-offs.

The nine "building blocks" of the business model design template that came to be called the Business Model Canvas were initially proposed in 2005 by Alexander Osterwalder.

What is this about?

STEP 1 -

Gather your team and start populating the canvas.

STEP 2 -

First step is define the target customers, their segmentations, their needs and priorities in the Customer Segments column

STEP 3 -

Next you define the purpose of the business and whats compelling about your proposition in the Value Proposition column.

STEP 4 -

Channels captures the positioning, promotion strategy, and modes of delivery; while your customer relationships, experiences, and management are collated in Customer Relationships section.

STEP 5 -

Key Resources, and Key Activities capture your uniquely strategic activities and resources needed for your business to deliver on its proposition; and Key Partnerships helps you identify partners to enhance your delivery.

STEP 6 -

Cost Structure captures the key cost structures and drivers while, Revenue Streams helps define how business earns its revenue.

STEP 7 -

Final step is to align all the sections by linking the notes Boxes and define key processes and flow paths which the businesses can focus on.

SOURCE: http://www.businessmodelgeneration.com

Your Design Led Innovation

Cost Structure

Key Partners

Key Resources

Key Activities

Business Model Canvas IDEA:

Value Proposition

Revenue Streams

Channels

Customer Relationships

Author:

Customer Segments

Iteration:

On:

5(A) BUSINESS MODEL CANVAS

MODELLING THE BUSINESS

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

Your Design Led Innovation

5(B)

STORYCRAFTING BUILDING NARRATIVES THAT ENGAGE

What is this tool for?

The Story Canvas is a multiuse tool that uses the Hero’s Quest approach specifically to help you leverage the untapped narrative intelligence towards innovation.

What is this about?

STEP 1 -

Set the context by defining the problem (what is to be resolved), and the purpose for existence.

STEP 2 -

Collate intel, insights, ideas that are important for the quest.

STEP 3 -

Define resolution the end state and what success looks like.

STEP 4 -

Work with you team to create multiple quests that capture ways to achieve the resolution by using the intel, insights and ideas.

STEP 5 -

Test with customers on which narratives are compelling and how they engage the customers.

SOURCE: https://thecanvasrevolution.com/product/story-canvas

Your Design Led Innovation

5(B)

STORYCRAFTING BUILDING NARRATIVES THAT ENGAGE

Your Design Led Innovation

5(C)

CUSTOMER ACQUISITION TESTING WITH THE CUSTOMERS

What is this tool for?

The Growth Marketing Canvas (GMC) helps you grow your business by building, mapping and maintaining a coherent growth marketing strategy that strongly relies on your customers’ needs.

What is this about?

STEP 1 -

First step is to populate the Customer Personas and understand their Journey.

STEP 2 -

Identify your customers’ pain by framing the job they need to be done and how you can offer the best solution to it. You also need to spot the pains and the gains associated to this job across the whole journey

STEP 3 -

Document the jargons and keywords your customers use to express their needs, pains across the journey.

STEP 4 -

Describe how you are going to communicate and convey your value proposition and the unique benefits to the customer across the journey.

STEP 5 -

Brainstorm on what messages, positioning and content can help you Offer your prospects and how you can reach them via different channels. Ideate on new ways to reach customers and engage them.

STEP 6 -

Finally define the goals and metrics for each stage to track and measure the success of outcomes

SOURCE: http://thegrowthmarketingcanvas.com/

Your Design Led Innovation

5(C)

CUSTOMER ACQUISITION TESTING WITH THE CUSTOMERS

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS Your Design Led Innovation

6 VENTURE EVOLUTION

Your Design Led Innovation

INTENT OF THIS PHASE

GOING F R OM

HOW WILL MY BUSINESS WORK?

TO AC HIE V E THE OUTC OME

THIS IS HOW MY BUSINESS WILL WORK

Your Design Led Innovation

TOOLS USED IN THIS PHASE

BUSIENSS DESIGN CANVAS AL IGNING STR ATEGY, BUSINESS & OPER ATIONS

SERVICE BLUEPRINT BUIL DING TH E SER V IC E OPER ATIONS F OR TH E BUSINESS

[ ENVISION | MODEL | EXECUTE ]

Your Design Led Innovation

6(A)

BUSINESS DESIGN CANVAS ALIGNING STRATEGY, BUSINESS & OPERATIONS

What is this tool for?

Practical Business Design is a method of describing your business; what it does, how it operates and what you want to achieve, all on a single Canvas page. It is helpful to align business operations with their objectives, and build a baseline model of their business to govern.

What is this about?

STEP 1 -

The Practical Business Design Canvas provides a simple structure for you to organise your thoughts about your business.

STEP 2 -

The Strategy Model describes what your business is and what you want it to be. It is important to be able to write down what you want to achieve to ensure that what you do in your business will actually achieve those ambitions.

STEP 3 -

Change describes how you plan to achieve your objectives in the Strategy Model.

It includes courses of action and how you will implement those ideas into your business.

STEP 4 -

The Business Model describes what your business actually does, what it sells, who to and what that relationship with the customer is.

STEP 5 -

The Operating Model describes how the business actually works, by drilling down into the detail of the business processes within them. The processes, which are a set of steps, link people, business data and applications together.

STEP 6 -

Metrics are how you can measure the performance of your business; how it is running and how change is progressing. If you think back to your objectives, these describe metrics you would be interested in.

SOURCE: https://practicalbusinessdesign.com/

Your Design Led Innovation

ALIGNING STRATEGY, BUSINESS & OPERATIONS

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS

6(A)

BUSINESS DESIGN CANVAS

Your Design Led Innovation

6(B)

SERVICE BLUEPRINT BUILDING THE SERVICE OPERATIONS FOR THE BUSINESS

What is this tool for?

A service blueprint is a diagram that visualizes the relationships between different business service components — people, props (physical or digital evidence), and processes — that are directly tied to touchpoints in a specific customer journey.

What is this about?

STEP 1 -

Define the customer actions. These are steps, choices, activities, and interactions that customer performs while interacting with a service to reach a particular goal

STEP 2 -

Identify the touchpoints and evidences of interaction.

STEP 3 -

Onstage actions are used to capture actions that occur directly in view of the customer.

STEP 4 -

Backstage actions captaure the steps and activities that occur behind the scenes to support onstage happenings.

STEP 5 -

Processes document all the internal steps, and interactions that support the employees in delivering the service. This element includes anything that must occur for all of the above to take place.

STEP 6 -

Draw flow lines and customer experiences to capture relationships, and more importantly, dependencies. A single arrow suggests a linear, one-way exchange, while a double arrow suggests the need for agreement and codependency.

STEP 7 -

If possible also define the metrics required to define context at vaious stages and to measure successful outcomes.

SOURCE: https://www.nngroup.com/articles/service-blueprints-definition/

Your Design Led Innovation

6(B)

SERVICE BLUEPRINT BUILDING THE SERVICE OPERATIONS FOR THE BUSINESS

TRANSFER TO TEAM WORKSHEET FOR DISCUSSIONS Your Design Led Innovation

What insights did you get? __________________________ __________________________ __________________________

How did the tools help you? __________________________ __________________________ __________________________

Your Design Led Innovation

Learnings __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________ __________________________

Your Design Led Innovation

Before we part, FEW THINGS TO KEEP IN MIND

YOUR JOURNEY TO STRUCTURED STARTUP INNOVATION STARTS NOW.

NO IDEA IS GOOD UNLESS VALIDATED BY REAL USERS. GET FEEDBACK SOON AND OFTEN.

FAIL FAST TO SUCCEED FAST.

Your Design Led Innovation

Disclaimer

Tools provided here are not a replacement for traditional tools. The purpose of these tools and this workbook is to cultivate a design-driven approach to drive success in startup development.

These tools and methods have been designed and collated to be used along with your financial, marketing, sales, business development tools and methods.

Your Design Led Innovation

RE THINK RE IMAGINE RE VALIDATE RE BUILD

Your Design Led Innovation

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Document prepared by Mukund Kulur for QGLUE.