Business model Canvas
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Business Model Canvas presentation covering design, strategies and validating business model. Presented during Startup Weekend - Amman, May 2015
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Business model Canvas
- 1. BUSINESS MODEL How to design, test, and pivot business models Ibrahim Faza May 29th 2015
- 2. About Me Ibrahim Faza @ifaza1 Entrepreneur, Investor & startup adviser Cofounded startups in Mobile payment, Mobile Apps, Social news and IT fields. Founding team of two telecom startups. Seed fund founding manager @ KAUST Mentor, coach & judge. Telecom Engineer
- 3. ?whatʼs a business model? What is Business Model
- 4. What is Business Model A Business Model describes the rationale of how an organization creates, delivers, and captures value.
- 5. Building Business Model 1 language 2 strategies 3 experiments 1 language 2 strategies 3 experiments 1 language 2 strategies 3 experimentsDesign Strategies Experiment
- 7. Business Model Canvas A Business Model can best be described through nine basic building blocks cover the main areas of a business: customers, offer, infrastructure and financial viability. 1 language 2 strategies 3 experiments Design
- 8. Business Model Canvas A Business Model can best be described through nine basic building blocks cover the main areas of a business: customers, offer, infrastructure and financial viability. The Business Model Canvas Revenue Streams Channels Customer SegmentsValue PropositionsKey ActivitiesKey Partners Key Resources Cost Structure Customer Relationships Designed by: Date: Version:Designed for: designed by: Business Model Foundry AG The makers of Business Model Generation and Strategyzer This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. strategyzer.com Customer Segments are the groups of people and/or orga- nizations a company or organization aims to reach and create value for with a dedicated Value Proposition. Value Propositions are based on a bundle of products and services that create value for a Customer Segment. Channels describe how a Value Proposition is communicated and delivered to a Customer Segment through commu- nication, distribution, and sales Channels. Customer Relationships outline what type of relationship is established and maintained with each Customer Segment, and they explain how customers are acquired and retained. Revenue Streams result from a Value Proposition successfully offered to a Customer Segment. It is how an organization captures value with a price that customers are willing to pay. Key Resources are the most important assets required to offer and deliver the previ- ously described elements. Key Activities are the most important activities an organization needs to perform well. Key Partnerships shows the network of suppliers and partners that bring in external resources and activities. Cost Structure describes all costs incurred to oper- ate a business model. Profit is calculated by subtracting the total of all costs in the Cost Struc- ture from the total of all Revenue Streams. Embed your value proposition in a viable business model to capture value for your organization. To do so, you can use the Business Model Canvas, a tool to describe how your organization creates, delivers, and captures value. The Business Model, and Value Propo- sition Canvas perfectly integrate, with the latter being like a plug-in to the former that allows you to zoom into the details of how you are creating value for customers. The refresher of the Business Model Canvas on this spread is sufficient to work through this book and create great value propositions. Go to the online resources if you are interested in more or get Business Model Genera- tion,* the sister publication to this book. Refresher: The Business Model Canvas * Business Model Generation (2010), Osterwalder and Pigneur STRATEGYZER.COM/VPD/INTRO Download detailed Business Model Canvas Explanation and the Business Model Canvas pdf XVI 1 language 2 strategies 3 experiments Design
- 9. Business Model Canvas in 3 Min. Business ModelVideo
- 10. CUSTOMER SEGMENTS which customers and users are you serving? An organization serves one or several Customer Segments.
- 11. VALUE PROPOSITIONS what are you offering them? It seeks to solve customer problems and satisfy customer needs with value propositions.
- 12. CHANNELS How does each customer segment want to be reached? Value propositions are delivered to customers through communication, distribution, and sales Channels.
- 13. CUSTOMER RELATIONSHIOPS What relationships are you establishing with each segment? Customer relationships are established and maintained with each Customer Segment.
- 14. REVENUE STREAMS What are customers really willing to pay for? how? Revenue streams result from value propositions successfully offered to customers.
- 15. KEY RESOURCES Which resources underpin your business model? Key resources are the assets required to offer and deliver the previously described elements …
- 16. KEY ACTIVITIES Which activities do you need to perform well in your business model? …by performing a number of Key Activities.
- 17. KEY PARTNERS Which partners and suppliers leverage your model? Some activities are outsourced and some resources are acquired outside the enterprise.
- 18. COST STRUCTURE What is the resulting cost structure? The business model elements result in the cost structure.
- 20. images by JAM
- 23. OFFER DISTRIBUTION CHANNELS CUSTOMER RELATIONSHIPS CUSTOMER SEGMENTS REVENUE STREAMSCOST STRUCTURE KEY ACTIVITIES PARTNER NETWORK KEY RESOURCES THE BUSINESS MODEL CANVAS
- 24. OFFER DISTRIBUTION CHANNELS CUSTOMER RELATIONSHIPS CUSTOMER SEGMENTS REVENUE STREAMSCOST STRUCTURE KEY ACTIVITIES PARTNER NETWORK KEY RESOURCES THE BUSINESS MODEL CANVAS building block building block building block building block building block building block building block building block building block building block building block
- 25. example
- 26. Case Study - iFood Food ordering platform (Mobile App & Web) Order food online from around 1000 restaurants around Jordan. Covers Amman, Irbid, Salt, Zarqa, Madaba & Aqaba. special offers 100% Free Service
- 27. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams
- 28. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Food buyers
- 29. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Food buyers Easy ordering
- 30. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Food buyers Mobile App Social Media Easy ordering
- 31. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Food buyers Mobile App Social Media Easy ordering CRM
- 32. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Food buyers Mobile App Social Media Easy ordering CRM Free
- 33. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Mobile App Social Media Easy ordering CRM Free
- 34. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Mobile App Social Media Sales Leads Easy ordering CRM Free
- 35. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering CRM Free
- 36. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction CRM Free
- 37. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads CRM Free
- 38. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Mobile App CRM Free
- 39. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App CRM Free
- 40. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App SW Development CRM Free
- 41. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App Marketing SW Development CRM Free
- 42. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App Marketing SW Development Delivery providers CRM Free
- 43. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App Marketing SW Development SW Development Delivery providers CRM Free
- 44. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App Marketing SW Development SW Development Support Delivery providers CRM Free
- 45. Business Model- iFoodThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Restaurants & food chains Food buyers Direct Sales Mobile App Social Media Sales Leads Easy ordering % per transaction Ads Restaurants agreements Mobile App Marketing SW Development SW Development Support Delivery providers CRM FreeMarketing
- 46. Business Model Design Tactics
- 48. Most common mistake? Business Model DesignTactics
- 49. Most common mistake? Starting here!!! Business Model DesignTactics
- 51. Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley. Business Model DesignTactics
- 52. Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley. Who? Business Model DesignTactics
- 53. Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley. Who?What? Why? Business Model DesignTactics
- 54. Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley. Who?What? Why? How? Business Model DesignTactics
- 55. Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley. Who?What? Why? How? How much? Business Model DesignTactics
- 56. example
- 57. Business Model - Madfo3atCom
- 58. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams
- 59. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Bill payers
- 60. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Bill payers Online bill payment
- 61. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Bill payers Online banking Online bill payment
- 62. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Bill payers Online banking Online bill payment madfo3atcom.com
- 63. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Bill payers Online banking Online bill payment madfo3atcom.com Free (Almost)
- 64. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Online bill payment madfo3atcom.com Free (Almost)
- 65. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment madfo3atcom.com Free (Almost)
- 66. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment madfo3atcom.com Flat fee per transaction Free (Almost)
- 67. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software madfo3atcom.com Flat fee per transaction Free (Almost)
- 68. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract madfo3atcom.com Flat fee per transaction Free (Almost)
- 69. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 70. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract SW Development madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 71. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 72. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development Central Bank madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 73. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development Central Bank Banks madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 74. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development Central Bank Banks payment providers madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 75. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development SW Development Central Bank Banks payment providers madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 76. Business Model - Madfo3atComThe Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Bill payers Online banking Reach / cost reduction Online bill payment Software Central Bank Contract Business agreements SW Development SW Development Support Central Bank Banks payment providers madfo3atcom.com Flat fee per transaction Businesses agreements Free (Almost)
- 78. Nespresso changed the business model for espresso Nespresso changed the business model for espresso Nespresso changed the business model for espresso Case Study - Nespresso
- 79. TitleText how much did the cost of coffee consumed at home change for Swiss households over the last couple of years? how much did the cost of coffee consumed at home change for Swiss households over the last couple of years? • One of the fastest-‐ growing businesses in the Nestlé group • Average growth of 30% p.a. since 2000 • Over 3.5 billion CHF annual revenue with 1 product line (3.8 billion USD)
- 80. TitleText Nespresso almost failed in 1987 and was about to close due to a nonperforming business model how much did the cost of coffee consumed at home change for Swiss households over the last couple of years? how much did the cost of coffee consumed at home change for Swiss households over the last couple of years?
- 81. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Offices Manufactures Nespresso System System Sales Manufactures
- 82. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Nespresso Machine 1x Machine Sales Offices
- 83. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Offices
- 84. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Retails Offices
- 85. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Retails Offices Nespresso Pods
- 86. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Pods
- 87. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods
- 88. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales
- 89. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Brand Patent Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales Distribution CH Pod Production
- 90. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Brand Patent Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales Distribution CH B2C Distribution Marketing production & SCM Pod Production
- 91. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Manufactures Brand Patent Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales Distribution CH B2C Distribution Marketing production & SCM Pod Production
- 92. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Manufactures Brand Patent Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales Distribution CH Coffee Growers B2C Distribution Marketing production & SCM Pod Production
- 93. The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams Business Model - Nespresso Home Manufactures Brand Patent Nespresso Machine 1x Machine Sales Retails Offices nespresso.c om Nespresso Stores Call Center Nespresso Club Nespresso Pods Repetitive pods Sales Distribution CH Coffee Growers B2C Distribution Marketing production & SCM B2C Distribution Marketingproduction Pod Production
- 94. Business Model - Nespresso
- 95. ?how do we do that?
- 104. Business ModelValidation The Business Model Canvas Cost Structure Key Partners Key Resources Channels Key Activities Value Proposition Customer Relationships Customer Segments Revenue Streams GUSEE GUSEE GUSEE GUSEEGUSEE GUSEE GUSEE GUSEE GUSEE
- 105. no business plan survives the first contact with customers Steve Blank, entrepreneur & thought leader “ ” “ no business plan survives the first contact with customers “Steve Blank entrepreneur & thought leader
- 106. ?how do you best organize the process of experimentation?
- 107. How to validate Business Model 1. Document your plan A 2. Identify riskiest part of the model by stage and type 3. Select the right experiment maximizing Learning, Speed & Focus.
- 108. Business ModelValidation Brainstorm possible models Time
- 109. X X Prioritize where to start Time Based on 1- Customer pain level 2- Ease of reach 3- Market size 4- Price / Margin Business ModelValidation
- 110. Time Identify riskiest part of the model X X Business ModelValidation
- 111. Time Test riskiest part of the model X X Testing Methods 1- Customer Interviews (Understand problem) 2- Pre-Sales (Measure demands) 3- MVP (Deliver customer expectation) Business ModelValidation
- 112. Time Systematically test your business model X X X Business ModelValidation
- 113. Time Systematically test your business model X … X X Business ModelValidation
- 114. Time Systematically test your business model X … X X Business ModelValidation
- 115. Before Product/Market Fit, the focus of the startup centers around learning and pivots. After Product/Market fit, the focus shifts towards growth and optimization. “Pivot” is a term used by Eric Ries to describe a change in direction of a startup while staying grounded in learning. The best way to differentiate pivots from optimizations is that pivots are about finding a plan that 3 stages of Startup
- 116. 3 stages of Startup PART 1: PROBLEM/SOLUTION FIT
- 117. 3 stages of Startup PART 2: PRODUCT/LAUNCH FIT
- 118. 3 stages of Startup PART 3: PRODUCT/MARKET FIT
- 119. 3 stages of StartupBefore Product/Market Fit, the focus of the startup centers around learning and pivots. After Product/Market fit, the focus shifts towards growth and optimization. “Pivot” is a term used by Eric Ries to describe a change in direction of a startup while staying grounded in learning. The best way to differentiate pivots from optimizations is that pivots are about finding a plan that
- 120. THANKS Q & A