Validate - Iridescent

Report
Validation
Week 6
Agenda
• 5:30 – Team Stand Up
• 5:45 – Validation
• 6:20 – Activities: Validation & Business
•
Plans
7:25 – Review Assignment
Objectives
•
•
•
•
•
Validate Problem / Solution fit
Validate Product / Market fit
Validate Business Model
Validate Market Size
Iterate Product
Validation
• Speaker Name
• Title
• Credentials
Why Validate?
Validate:
Problem/Solution
• Customer confirms that there is a
problem.
• Customer is already investing
resources into trying to solve this
problem.
• Customer is already investing
behavioral change into trying to solve
this problem.
• Customer does not have any
Cindy Alvarez
constraints that prevent them from
Validate:
Product/Market Fit
Is your product a…
• Vitamin
• Aspirin
• Narcotic
Validate:
Product/Market Fit
• If 40% of people using your
•
app would be very
disappointed without your
product…you are there!!!
So keep iterating to get
closer and closer to be there
by Pitch!
Validate:
Business Model
• The market research and
•
customer development
informs you that the business
will be “profitable”
You will spend less to get a
customer than you will make
from the customer.
Validate:
Your Market
Quantify YOUR part (%) of the
total market and the total
revenue ($) opportunity
Symple App:
Validation
Find the Validation
Example in your team’s
Technovation Workspace
on Google Docs
Business Plan
• A business plan is a document that
•
•
details company personnel, products,
markets and the revenue projections of
an organization.
Business Plans are done once you
have found product/market fit
Reflects long term goals and objectives
Activities:
Validation & Business Plan
• (20 Minutes) Validation
 Validate Problem/Solution Fit: Summarize all the
data collected to show conclusion
 Validate Product/Market Fit: Summarize all data
collected to show conclusion
 Validate Business Model: Demonstrate at least
one viable approach to market and sell the
finished App
 Validate Market Size: Quantify the Total
Addressable Market for the App
• (45 Minutes) Business Plan - Follow the
template in Workspace to structure a business
plan
Activity:
Validation Template
Find the Validation tab in
your team’s Technovation
Workspace on Google
Docs
Reminder:
Weekly Reflections
• What did your team like about this
•
•
week?
What challenges did your team have
this week?
Anything else your team would like to
share?
Technovation Challenge
Google Group
Share with us on
Twitter & Facebook
Tweet us: @_technovation_
#technovation
Like us on Facebook:
Technovation Challenge
Ongoing Offsite Activities
•
•
•
•
Customer Development
Usability Testing
Evaluate Data
Build Prototype

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