Skip to content

Entrepreneurship

  • Be aware, detect probelems in the society, recognise needs, recognise gaps
  • Think of it with empathy,
  • Explain your project advantage, why this is better than others

Pain

  • Wishes
  • Needs
  • Problems

Skills

  • Be motivated
  • Have vision
  • Tolerance to uncertainity
  • Flexibility
  • Communicationm
  • Planner
  • Commitment
  • Creative
  • Problem solver

  • Team building - Who are you? What kind of profile will compliment with you, who posseses the things you're weak at.

  • Recognise the gap

  • Translate the gap into a business opportunity

Target market - Modern women and people who are educated and interested in sustainability and looking for new styles and silhouettes.

Advantage - Following various sustainable and organic fabrication techniques yet not compromising on the looks.

  1. Business model creation Never one way, keeps evolving, full of hypothesis

  2. Market reserch Customer development, gather data

  3. Empathy mapping Put in all the data you have gathered

Business doesn't mean only a product, the real opportunity which solves a problem, need.

Customer is most important You have to offer value To understand the real pain we have to interact with them

Emperical method - experimentation - onservation - analysis - statistics

Perform interviews A discussion, not just questions

1st step - Hypothesis

1- How a company CREATES, DELIVER & CAPTURES value create a product, channel to display/sell, get return

Value Prove there is a problem solution solves the problem people will pay for it prove you can scale

BUSINESS MODEL CANVAS

1 - Customer segments

  • Special segment
  • not just social characteristic
  • what probelems they have
  • what values they have

  • could be more than one segment, but you have to decide

  • what kind of situation you wanna help them with

2- Value proposition

  • its not the product, solution is different than product, observe the pain, explain the solution, how your product is incorporating the solution
  • how your solution is more suitable than competitors, hows yours is better

3- Channel

  • how you will sell
  • ecommerce, space, social media,
  • if its physical, what kind of space, showroom, pop ups, observe the customer, which spaces do they buy from to solve their pain,
  • omnichannel, multi-channel

4- Customer relationships

  • recognise what are you fighting for, what values do you transmit to catch your customers
  • will have to explain the real relationship, depends pre sale and post behavious with customers, how to keep the relationship and promote the love

5- Key activities

  • how do you show what kind of activites do we have to develop to keep the promise
  • how do you show what kind of activites will guarantee that your process is sustainable
  • certifcations, tracebility

6- Key resources

  • What kind resources you will need to make the activites to happen
  • material(raw material), human(professionals), technological(technology), infrastructure(production company, transport, )

7- Key partners

  • a partner with whom will we have a win-win agreement. not suppliers who you pay, who will offer you a possibility of reducing costs, help you with more speed entering the market,
  • company, institution, association
  • explain the win win relationship

8- Costs

  • mention the most important cost concepts
  • which percentage explains the most amount of costs

9- Revenue stream

  • the income mother - express which is the mother
  • a special way to exchange value

Customer developmet

  • Steven blank search, tips on customer development

Customer discovery

  • does the problem asking
  • are they ready to pay or looking to pay for a solution, does a solutiin exist - are they looking for a better solution
  • identify the early evangelist
  • how much money they spent for the previous solution
  • how are they suffering
  • maximum tolerance for price
  • ques - how much did you pay, are you willing to pay more for a better solution?

Customer validation

  • where can i find my customer
  • name, email, phone number
  • create a MVP test

Early evangelists

  • do not trust recommendations prefer taste their own
  • want to feel as a part of the team
  • want to be the first to test
  • have the pain
  • have already found a solution but looking for a better one
  • willing to pay

Interviews

  • let the customer talk
  • ask about real situations related to your product/solution
  • love and hate about the existing solution, what are they missing
  • which other tools they are using
  • spending limit imp
  • which 2-3 attributes are relevant in making their buying decision.
  • identify competitors and their usp
  • identify which attribute you want to be the leader
Last update: 2022-05-26