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Validation Week 6. Agenda 5:30 – Team Stand Up 5:45 – Validation 6:20 – Activities: Validation & Business Plans 7:25 – Review Assignment.

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Presentation on theme: "Validation Week 6. Agenda 5:30 – Team Stand Up 5:45 – Validation 6:20 – Activities: Validation & Business Plans 7:25 – Review Assignment."— Presentation transcript:

1 Validation Week 6

2 Agenda 5:30 – Team Stand Up 5:45 – Validation 6:20 – Activities: Validation & Business Plans 7:25 – Review Assignment

3 Objectives Validate Problem / Solution fit Validate Product / Market fit Validate Business Model Validate Market Size Iterate Product

4 Validation Speaker Name Title Credentials

5 Why Validate?

6 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 constraints that prevent them from trying this solution. Cindy Alvarez

7 Validate: Product/Market Fit Is your product a… Vitamin Aspirin Narcotic

8 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!

9 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.

10 Validate: Your Market Quantify YOUR part (%) of the total market and the total revenue ($) opportunity

11 Symple App: Validation Find the Validation Example in your teams Technovation Workspace on Google Docs

12 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

13 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

14 Activity: Validation Template Find the Validation tab in your teams Technovation Workspace on Google Docs

15 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?

16 Technovation Challenge Google Group

17 Share with us on Twitter & Facebook Tweet #technovation Like us on Facebook: Technovation Challenge

18 Ongoing Offsite Activities Customer Development Usability Testing Evaluate Data Build Prototype


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