Class Notes (1,100,000)
CA (620,000)
UOttawa (30,000)
ADM (3,000)
Lecture 3

ADM 3313 Lecture Notes - Lecture 3: Google Analytics, Duct Tape, Zappos


Department
Administration
Course Code
ADM 3313
Professor
Stephen Daze
Lecture
3

This preview shows page 1. to view the full 4 pages of the document.
Lecture 3
Customer Discovery and Validation
!Recommended Start up Process (Not necessarily distinct and /
or linear)
!Following some ideation process (Idea validation):
1.!Generate idea
2.!Assess market size and competition
3.!Conceive business model hypotheses
4.!Build validation tests and key metrics
5.!Run validation tests and measure
6.!Learn
7.!Reiterate model and hypotheses
8.!Repeat until new iterations not required
!Business validation / Business planning
o!1. Establish resource requirements
o!2. Determine financial viability
o!3. Start venture or go back to step 1
Course Requirements
o!Conceive idea
o!Assess Market: size and competition
o!List all hypotheses and underling assumptions related to
possible success (problem, issue, gap, customer group,
purchase behavior, etc.)
o!Design a Version1 Business Model
o!Develop test methodologies for each hypotheses and
assumption
o!Determine what pass/fail looks like
o!Establish plan of action for tests
o!Implement tests; measure, learn, repeat
o!Present
o!Build associated Business Plan, present plan
!What Do Tests Look Like?
o!Customer conversations (f2f)– lots of them
!!Face to face convos with potential customers
!!As many as possible
o!Industry expert conversations
!!Convos with people who know something about the
industry, work in the industry.
!!Convo around the problem that’s out there
You're Reading a Preview

Unlock to view full version