This is for an online class through Stanford/NovoEd called Technology Entrepreneurship.
For today, I'm just going to copy lecture 2's notes so I have them for future reference.
The Business Model Canvas
* Lessons Learned
* Changes in red
Here's what we thought
Here's what we found
Here's what we're going to do (for next week)
Emphasize that weeks assignment, but include all
Extra credit, 5 minute video of you presenting. Post link on forum, top 5 get extra credit.
Get feedback from mentors before presentation
Identify and define a market opportunity and pitch it in 5 minutes (what are customers, do people want to buy this), with 5 slides and a 3 page write up concept (problem), market size, customers, business model (hypotheses), competition.
Clearly articulate concept
Understand the consumer need you're addressing
Understand business model
Describe target market
Address potential competitors
Discuss potential risks
Start showing site to potential customers testing idea
Use ads, textlinks, google adwords, facebook ads and natural search to drive customers to minimally viable website
Ask contacts to share/forward with friends who have "problem x" - include 2-3 sentence description
Use twitter with site in posts
Use mailchimp, postmark or google groups to send out emails
Create online surveys with wufoo or zoomerang
Start with something simple: value proposition, benefits summary, and a call-to-action to learn more/answer a short survey/pre-order
For surveys wufoo and google forms can be used
Parts of a business model: users, customers, pricing, customer lifetime, customer demand creation, your sales channel, entire supply chain, how do the customers view you,