Lean Launch Pad fast forward 6 weeks 1 But Realize Theyre Hypotheses 9 Guesses Guess Guess Guess Guess Guess Guess Guess Guess Guess MammOptics Business Model Canvas 1 of 4 Radiationfree ID: 935520
Download Presentation The PPT/PDF document "What DOES This “REALLY” LOOK Like?" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
What DOES This “REALLY” LOOK Like?
Lean Launch Pad – fast forward 6 weeks
1
Slide2Slide3Slide4But,
Realize They’re Hypotheses
Slide59 Guesses
Guess
Guess
Guess
Guess
Guess
Guess
Guess
Guess
Guess
Slide6MammOptics
Business Model Canvas 1 of 4
Radiation-free
Earlier detection
Non-invasive
Pioneering radiologists in
hospitals
Direct sales to hospitals
Strong clinical data
Training
Maintenance
Product Development
Clinical trials
Operating Costs
Capital equipment sales and disposable item
Product Development
IP
Clinical trials
FDA
IP
Leading doctors
Technical Expertise
Hospitals
Leading doctors
3
rd
party manufacturers
Distributors
Initial guess
Initial guess
Initial guess
Initial guess
MammOptics
Business Model Canvas 1 of 4
Test:
Customer segment
Value proposition
Slide7Finding the right customer
From radiologists to gynecologists
Slide8How do you test these hypotheses?
ResearchWhat type?Role of secondary…..
Role of primary……qualitative
Observation
Interviews and focus groups
Hypothesis
Test
Interpret
Repeat
Slide9MammOptics
Excursions into hospitals
Leading doctors
Patients
Hospital Managers
Technicians
Debra Ikeda
Jason Davies
Jafi Alissa Lipson
Sunita Pal
6 women >40
8 women <40
Alicia X-ray mammography
Paul Billings
Holly V. Gautier
Slide10MammOptics
Hospital purchasing decision tree
Slide11MammOptics
Hospital purchasing decision tree
Hospitals
Complex purchasing decision tree. Several saboteours
Slide12MammOptics
Private practice purchasing decision tree
Slide13MammOptics
Private practice purchasing decision tree
Private practice
Faster adoption rate
Attractive value proposition
✔
Slide14Pioneering Doctors
Hospitals
OB/
GYNs
PCPs
Direct Sales to doctors
Strong clinical data
Training
Maintenance
Product Development
Clinical trials
Operating Costs
Capital Equipment Sales and disposable item
Product Development
IP
Clinical trials
FDA
IP
Leading doctors
Technical Expertise
Hospitals (Capital Spending Committee)
Leading doctors
3
rd
party manufacturers
Distributors
Research Hospitals
Doctors:
Earlier detection
Price
Accuracy
Patients:
Radiation FreeNon-Invasive
MammOptics
Business Model Canvas 2 of 4
Slide15Pioneering Doctors
Hospitals
OB/
GYNs
PCPs
Direct Sales to doctors
Strong clinical data
Training
Maintenance
Product Development
Clinical trials
Operating Costs
Capital Equipment Sales and disposable item
Product Development
IP
Clinical trials
FDA
IP
Leading doctors
Technical Expertise
Hospitals (Capital Spending Committee)
Leading doctors
3
rd
party manufacturers
Distributors
Research Hospitals
Doctors:
Earlier detection
Price
Accuracy
Patients:
Radiation FreeNon-Invasive
MammOptics
Business Model Canvas 2 of 4
How do we get to our customer?
Need sensitivity and specificity
Slide16Getting to our customer
The world of direct sales and medical marketing
Slide17MammOptics
Interviews
Breast Cancer Advocacy Groups
OB/GYNs
FDA/Clinical Trials
Medical Sales
Be Bright Pink
Jennifer Glover
Dr. Cindy Woo
Dr. Jags Powers
Dr. Aaron Shuvkan
Katrina Bell
Tanay Dudhela
Jed Hwang
Phyllis Whitely
Carl Simpson
Slide18MammOptics
Marketing
Slide19ACOG
ACS
Doctor specialty committee
Hospital Administration
Technician
Radiologist
Mammography
MammOptics
Customer Workflow
Current market
Insurance
Slide20ACOG
ACS
Doctor specialty committee
Hospital Administration
Technician
Radiologist
Mammography
MammOptics
Customer Workflow
Current market
But what would happen if we replace mammography?
Insurance
Slide21ACOG
ACS
Doctor specialty committee
Hospital Administration
Technician
Radiologist
Mammography
MammOptics
Customer Workflow
Breast Radiologists
Technicians
Hospitals
Loss of jobs
Loss of jobs
Eliminates loss leader
Puts emphasis on biopsies
Insurance
Slide22ACOG
ACS
Doctor specialty committee
Hospital Administration
Technician
Radiologist
Mammography
MammOptics
Customer Workflow
Insurance
Same cost as mammography ($140)
Reduced number of biopsies ($1000)
ACOG/ACS
Improved healthcare
(mammography weak technique)
Insurance
Slide23OB/GYNs
PCPs
Direct Sales to hospitals
Distributor
Strong clinical data
Training
Maintenance
Conferences
CME courses
Product Development
Clinical trials
Operating Costs
Marketing Costs
Capital Equipment Sales and disposable item
Per use fees
Product Development
IP
Clinical trials
FDA
Publishing
IP
Leading doctors
Technical Expertise
Leading doctors
Key Opinion Leaders
3
rd
party manufacturers
Distributors
Breast Cancer Foundations
ACOG
ACS
Doctors:
Earlier detectionPrice
AccuracyPatients:Radiation FreeNon-Invasive
MammOptics
Business Model Canvas 3 of 4
Slide24OB/GYNs
PCPs
Direct Sales to hospitals
Distributor
Strong clinical data
Training
Maintenance
Conferences
CME courses
Product Development
Clinical trials
Operating Costs
Marketing Costs
Capital Equipment Sales and disposable item
Per use fees
Product Development
IP
Clinical trials
FDA
ReimbursementPublishing
IP
Leading doctors
Technical Expertise
Leading doctors
Key Opinion Leaders
3
rd
party manufacturers
Distributors
Breast Cancer Foundations
ACOG
ACS
Doctors:
Earlier detectionPriceAccuracyPatients:
Radiation FreeNon-Invasive
MammOptics
Business Model Canvas 3 of 4
Learned how to reach the customer
How do we build a company based on this?
Slide25What did the team learn?
To pivot on their lead customer segmentThat the customer decision process has multiple playersThat the marketing ecosystem and sales channel in the industry has established rules and many players
That the required partners and key activities are different and more than the first hypotheses
That all of the above changes the cost structure and revenue model
Slide26Process of customer discovery
Aim for several fast short cyclesBe prepared to validate
pivot
or
stop on a direction
Aim is for evidence based support for your target market, value proposition and the b-model and strategy that enables this.
Slide27Version 1
Version 3
Version 2
Version 4
Time as a dimension
Slide2828
Customer
Discovery
Customer
Validation
Customer
Creation
Scale
Company
Customer Discovery
Stop selling, start listening
There are no facts inside your building, so get outside
Test your hypotheses
Two are fundamental: problem and product concept
Slide2929
Customer Discovery: Rules
Rule 1:
Facts are outside the building, opinions are inside.
Rule 2:
Solve a problem that customers say is important and valuable
Rule 3:
Does the product concept solve that problem?
Slide3030
Customer Discovery: Exit Criteria
What are your customers top problems?
How much will they pay to solve them
Does your product concept solve them?
Do customers agree?
How much will they pay?
Can you draw a day-in-the-life
of a customer
before & after your product
Can you draw the org chart of users & buyers
Slide3131
State Your Hypothesis
One-time writing exercise
All other time is spent in front of customers
Assumes you’re smart
( but guessing )