Main Goal

Complete the whole process of generating a business starting with the definition of the idea to the point of having a tested prototype ready to be presented to potential investors.

Organisation

Work with groups up to 6 students. The time needed depends on how deep the goals are supposed to be achieved. Normally, can take a whole year spending two hours a week.

Resources

Every step has different tools to be used. Every group needs at least one computer, access to a printer, some models and canvas printed, and a lot of stickers and pencils of different colors.

Outcome

A business model ready to be shared and a deeper knowledge of a way to find opportunities in the market and make them real.

Applicability

This card explains a whole long process, so it can be split up in smaller parts.

 

Outcome

A business model ready to be shared and a deeper knowledge of a way to find opportunities in the market and make them real.

References

theleanstartup.com

 

First step: the goal is generate a solid idea in the end of a process of analysis of the market and the potential client. Brainstorming is the main tool to come up with new ideas, in a process that must be quite creative and open. The most important thing is to have a way to select the best ideas through a procedure such cardsorting. Afterwards, the history of the client must be put into images.

Second step: to developed the idea, the group need to empathise with the client in the first place, before having a broad picture of the market, with the strategic framework. In the end of this step, the designing path starts with the value proposition canvas which aims to the product design.

Third step: with all the information about the product, the potential clients and the way it fits in the market, the group starts prototyping the business model, using a tool such business model canvas. At the end of this step, the group should have something enough solid to be validated.

Fourth step: time to see if the prototype fits with the needs of the market and the expectations of the latent customers, with the help of the minimum viable product methodology. Afterwards, a way to share the results and look for inputs and invests in the market, can be elevator pitch and investors panel.

Evaluation

Because it is a long process, feedback must be given in a regular basis, especially if we take into account that every stage of the process can change the final result, which most of the times is not the most important outcome.

The main goal in the end is to have collected information about a way of looking for opportunities in the market and make them real.