UMSI Entrepreneurship Nancy A. Benovich Gilby Ehrenberg Director of Entrepreneurship Clinical Associate Professor  School of Information 650-539-8376 nabgilby@umich.edu UMSI 663 Fall 2015 11/20/2015 Week #11

Team Project Overview Project Week: Form your team, establish ground rules, Interviews round 1 Review Customer Development Round 1 and Potentially Pivot, Competition, Market size Review Customer Development Round 2, Pivot? Review Customer Development Round 3, Pivot? KJ Affinity Diagram, Test with Users Design Thinking for initial brainstorming, wireframe test with users, Skeleton of App Business Model Canvas, Front End Screens in Swift (MVP1) and optional, start prototype language Skelton for prototype starting from Parse examples, Dummy Dataset, (MVP2) Draft pitch and Demo Story, Elevator Pitch, Team execution on demo and pitch, finalize script, backend, build app scaffolding, (MVP3), polish All teams pitch and review, MVP prototype (MVP FINAL) Pitch and demo to VCs, Executives, Entrepreneurs

How was that sustainability model exercise. … How was that sustainability model exercise?…. Standups to dig into details PAT YOURSELF ON THE BACK, YOU’VE JUST GOTTEN FARTHER THAN 95% of MOST MOBILE ENTREPRENEURS!!!! Iterating on your pitch and demo….

Today Last 3 classes! Review Demo and Pitch requirements Standup to review details of your trello board work breakdown: Status on pitch and demo What you will do these next 2 weeks What challenges/obstacles Finish share out from last week – Business Model Canvas, Front end screens in Swift, user scoring In class work on pitch and code

Final Project: Demo You must be able to adequately demo your value proposition It must be CLEAR what your 3 top problems/meaningful items were from your KJ and specifically show in your demo how you are addressing them EVERYTHING else is gravy, you can have dummy screens, dummy data etc etc etc, this is NOT a fully working, ready to hand off MVP

Final Project: Demo/Swift Code Requirements You can choose to do either: ONE Swift MVP prototype for demo or BOTH a high-fidelity prototype (Axure, Invision, proto.io) AND a small swift final project (due 12/18) SMALL SWIFT Final project At least 4 screens with segues Takes information from Parse, puts it on the screen Modifies information and saves to Parse At least 1 working control with an action

Final Project: Pitch Story telling, pitching HIGHLIGHTS Relaxed and open presence Tested value proposition with data to support Sustainability model that makes sense for the funding you are seeking

KJ of Note: The main difference is that Affinity Diagram focus on ideas whereas KJ Analysis is focusing on “facts”. MIT Rule of “10” If you have a crisp target user definition, you only need to interview 7 people and you will start hearing the same things. Set out to interview 15 or 20 with the end goal you will cull down to 7

Final Project: Pitch 5 minutes pitch & demo 5 minutes of questions/feedback from the judges

There must be a clear story that you walk through seamlessly in your final Pitch & Demo Incorporate an opening scenario, which sets an urgent narrative, then follow that scenario through in your demo Remember, the most convincing presentations and demos (convincing that your team and your proposition is most likely to be used and to make an impact on those users) will be scored the highest. Make your presentations as indisputable as possible......QUOTE YOUR USERS!!!....use them in building your case!!!

Prepare Your Pitch Deck for Questions (Props for supporting your case) Appendix KJ Additional customer quotes, testimonials Scores (Importance/Satisfaction from Demo scoring) Anything else that strengthens your proposition Market data Market landscape News/Blog articles in your area

Your Presentation Format: 5 Minutes Competition List competitors List competitive advantages Product Detail & Demo Product line-up (form factor, functionality, features, architecture, intellectual property). Development timeline roadmap. Team Founders & Management Board of Directors/Board of Advisors http://www.sequoiacap.com/grove/posts/6bzx/writing-a-business-plan We like business plans that present a lot of information in as few words as possible. The following business plan format, within 15–20 slides, is all that’s needed. Company purpose Define the company/business in a single declarative sentence. Problem Describe the pain of the customer (or the customer’s customer). Outline how the customer addresses the issue today. Solution Demonstrate your company’s value proposition to make the customer’s life better. Show where your product physically sits. Provide use cases. Why now Set-up the historical evolution of your category. Define recent trends that make your solution possible. Market size Identify/profile the customer you cater to. Calculate the TAM (top down), SAM (bottoms up) and SOM.

ShareOut Name Elevator Pitch Best Business or Lean Model Canvas Swift Front End Screens (or mockup) User score

Lean Model Canvas