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This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!
Text for searching:
MaRS ENTREPRENEURSHIP 101. NOV 29, 2012 : # ENT101
BUSINESS MODEL CANVAS
Not a static business plan
Learn – Idea – Build – Code – Measure – Data
Business Model Canvas
1. Who do you serve <- specific, self-referencing
2. What problem do you solve? Value proposition
3. How do people find you? Channels
4. What types of relationships do you have w/customers?
5. How do you get paid ? Revenue streams
6. What things do you do? Key activities
7. What resources do you need? key resources
8. What else do you need? key partners
9. What does it cost to operate this model? –> key levers, not all costs; Cost structure
Nespresso
Single-serve coffee cups
1970 invented
1976 patented
1986 launched
1988 … flopped
1989
Separate
machine from coffee
Pivot
Was wildly successful
Made Sold Sales Training Coffee Sales
3rd parties Independent retail Nespresso Direct to consumer
30% compound annual growth rate! –> 20 billion capsules!
Business idea
Hypothesis
Read the Lean Startup: Innovation accounting
Great way to communicate with your team, too. Whiteboard!
Take pictures!
What did we do before? Colour-coded Post-its
Homework:
Draw this & test your assumptions,
box by box
falsifiable hypothesis
Nespresso
Coffee machine makers
Distribution
brand patents factories
Marketing production logistics (NEW)
Restaurant quality espresso at home
Retail Nespresso call centre boutiques
Member
High end households
Distribution and sales
marketing
manufacturing
Capsule sales
hardware sales
Fit your value proposition on a Post-It
Whiteboard + Post-Its = awesome
Great for talking to other people
(potential team members, cofounders, staff)
When you’ve got it mostly figured out, make it visual!
but don’t let pretty pictures
stop you from changing it!
Books to Read
Business Model Generation (& lean startup)
Running Lean
Q&A
Q: Business plan vs model?
A: Depending on investor. Concise summary / outline in business model canvas + spreadsheets, plan.
Q: Shortcomings?
A: Lean canvas may be better for some. Defensibility not particularly called out in the canvas
Q: Nespresso pivoting?
A: Customer research, etc.
Q: Very general?
A: Most startups aren’t killed by competition –> usually other reasons. Try making for competitors too?
Q: Evaluation tips?
A: Validate each of the boxes. Canvas can’t tell you if something is a good idea or not
Q: Updating?
A: Be objective about what you put on the business model canvas. change after experiments
Q: Reminder why you’re doing this value?
A: Yes, that’s part of it! Jolts you out of =(
This video doesn’t cover everything – there’s a gap in the middle when we started painting. I have to figure out how to reliably do time lapses with my phone or computer. =) This was fun, though!
Nathan Monk and Jennifer Marron reached out to me with this cool idea – in addition to sketchnoting Lean Startup Day at MarsDD on Dec 3, why not sketchnote the banner as well? I told them I’d never worked on anything that big, but they were up for the experiment and I was too. They rounded up canvas and paint, booked the boardroom, and away we went.
I started by drafting possible layouts using pencil and paper. They suggested some ideas to feature on the banner, and I added quick sketchnotes: an unfinished robot for the minimum viable product, arrows for “pivot or persevere”, and so on. I copied key elements of the first draft onto a second draft, and that was good to go.
Based on the proportions of the paper, we cut the canvas to roughly 68” by 120”. Coming from years of sketchnoting on a laptop screen (and doing the occasional blackboard/easel pad), it was certainly quite a new experience! It was so tall that I had to stand on a chair to reach parts of it. Glad to see that the proportion lessons I’d taken in art class paid off, though – I found it easy to work with the large space.
We started by taping the canvas to the wall and chalking outlines. I used my measuring tape to find the center and scribe a circle around it (hooray for high school geometry!). Then I lightly chalked the outlines of the MaRS logo and the sketchnoted quotes while Nathan and Jennifer chalked in the partner logos.
After chalking the layout, we stepped back to see what it looked like. It looked great! Then the duct tape gave way (canvas is heavy!), and we unanimously decided to move it to the boardroom table for the actual painting. If it collapsed that way while painting, we’d suddenly have an abstract art piece on our hands! We spread plastic wrap all over the boardroom table and the floor, set out the paints, and got going.
While Jennifer focused on the partner logos, I painted the MaRS logo, the Lean Startup Day arrows around it, and the sketchnote-style concepts surrounding the logo. We completed the banner in around 4 hours – about 1.5 hours to design and chalk it, and 2.5 hours to fill everything in with paint and touch up with white to cover up mistakes. The materials cost less than $200 – maybe $150? – and that was with way more paint than we needed, since none of us had any idea what to work at that size. I couldn’t get a good picture of it, but once it’s up on Dec 3, I’ll be sure to.
That was fun!
Lessons learned:
Click on the image for a larger version. Please feel free to share this under the Creative Commons Attribution Licence.
If you like this, check out my other sketchnotes!
This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
And here’s how I drew it…
Check out my other ENT101 sketchnotes, or other sketchnotes and visual book notes!
Text for searching:
MaRS Entrepreneurship 101 Nov 21, 2012 # ENT101
IP MANAGEMENT: Creating Value by Protecting Knowledge Based Assets
NATHANIEL LIPKUS, Intellectual property
MATTHEW POWELL, patents
ASHLEE FROESE, trademarks
Do you use NDAs instead of stronger intellectual property protections?
Non-disclosure agreement costs a ton to enforce !
ONLY 20% of Canadian science /tech businesses – IP protection
Types: Patent, Trademark, Trade secret, Design, Copyright
IP has value!
PATENTS
design around
Control over how an advantage reaches customers
ex: do you need to reinvent the smartphone?
Is it patentable? New, Useful, Non-obvious
Process for sharpening images
Picture copyright
Patent laws <– Strict !!
Public disclosure
Use (ex: commercial)
offering for sale
actually selling it
Patent –> making something PUBLIC in exchange for control
Disclosure
Claims – Patent
Patents are granted on a per-country basis
Patent fee deferrals
Patent cooperation treaty –> options to file (30 months!)
Patent process 1 2 3 4 5
1. Understand inventorship & ownership
2. Prepare patent application
3. File the patent
4. Negotiate with examiner
5. Granted !
That’s too broad
Okay how about this?
Patents Vs. Trade Secret (Shhh…)
Public | can’t stop independent
control | others can protect details
that can be reverse engineered
TRADEMARKS
Your company reputation!
Not just names
mass of consumers
Non-traditional trademarks
3D designs, Colour, Sound ex: M&M Lion, distinguishing guise: Nesquick bottle: bunnies!
Recommended!
Generic -> Descriptive -> Suggestive -> Coined
Some exceptions:
The Beer Store
The more distinctive, the easier to protect.
Do your due diligence! (Is this viable? What’s out there?)
Best way
#1 Trademark registration
–> formal ownership
–> easier litigation
–> can be renewed forever
–> useful for internet also www.
The Living Brand
Keep an eye on your brand
Use it
Ex: escalator, Zipper, Kleenex, Aspirin… becomes generic term!
Update as needed, audit what’s going on
Online: Other people w/trademarks, Cybersquatters
Reserve your space
GOOD HOUSEKEEPING
1. Know your IP: Invention disclosures, spreadsheets
2. Ensure IP Ownership
Contracts — employees, contractors,etc.
Audit IP periodically
Start … … … …
IP HURDLES VS BARRIERS
Patents –> license? invalidate?
Trademarks –> license? modify?
Ex: Samsung vs. Apple
patents between user interface and hardware
Example: Gilead -] licensed HIV drugs to manufacturers in developing countries
Q&A
Q: Lean Startup?
A: Few things can beat being first to market in some industries. Patents–> maintian competitive advantage
A: Don’t forget about IP benefits
A: Can file for proposed use –trademarks?
Q: Business method patents, patent trolls?
A: Not healthy.. Moral discussion? Hybrid–>research labs. Nonpractising entities
Software patents: seat at the table. Challenge with prior art. Problems with patent system.
Q: enforceability of software patents?
A: Yes, if valid.
A: Not algorithms, but processes.
Click on the image for a larger version! Please feel free to share this under the Creative Commons Attribution Licence.
This talk was organized by Girl Geeks Toronto. If you like this, check out my other sketchnotes. Check out Andrea’s sketchnote of the same event, too!
Brainrider hosts these wonderful monthly meetups for marketers (digital and traditional) in Toronto. Click on an image for a larger version of the sketchnotes. Feel free to share these under the Creative Commons Attribution 2.5 Canada licence!
Dragging an Organization into the Digital Age – Sarah Major and Jeanie Hendrie
7 Steps to Social Media Success, Richard Marginson
Like these? Check out sketchnotes for previous #torontob2b meetups or my other sketchnotes!
Text:
DRAGGING AN ORGANIZATION INTO THE DIGITAL AGE
Sarah Major and Jeanie Hendrie
#torontoB2B
Nov 15, 2012
First!
Content strategy and framework
Current clients start conversations
Associates engage
Prospective associates
Great place to work
Rest of the world
SEO, etc.
Anchor
-> Outpost
-> Outpost
-> Outpost
What questions do clients ask you? What language do they use? -> Organize into framework -> Blog categories (Targeting, Brand strategy, …)
Plan on a page
Goals
Ways of working
…
Translating analogue behaviours to digital
Content strategy is not permanent.
BrainRider
-> Review using data
Analytics: tie it back to goals to make them actionable
Generate Content
Views
Posting momentum
Expand deployment
Reader loyalty
Length of stay
Fostering engagement
Client breakdown
Comments
drum up internal engagement
highlight client comments
Video objectives
Share and celebrate
Recognize and reward
Have fun!
Evolution of SKW
Before and after
Stats
Blog team
Challenge:
Keeping writers writing, otherwise stale!
-> buckets of inspiration
Q: Guest bloggers?
A: Clients co-write some posts. Those are very successful.
Q: Most commented vs most read?
A: Often different.
7 STEPS TO SOCIAL MEDIA SUCCESS
Richard Marginson (@RickyInMotion)
#torontoB2B
Nov 15, 2012
Word of mouth of SUPER STEROIDS
listening
connecting
publishing
Chris Brogan
One-to-one dialogue
1. Got the vision? Get the support!
Not the decision-maker?
GET BUY-IN.
Community manager
monthly, etc.
Steering committee
–agency
Community manager
-SMEs
-Editorial
2. Who knows your BRAND better than
YOU?
Be engaged instead of handing it all
off to an agency.
3. Start with free tools.
Understand what your customers see.
4. Rules and guidelines are important.
– resolve ambiguity
5. Engage!
converse
comment
curate
create
6. you’re already making a ton of
stuff.
Reimagine it for social media
purpose -> content -> measurement
7. Measuring success
mentions per day
positive, negative, neutral
trends, opportunities, threats
Google authorship, Bing and Klout,
Google Panda update
Social proof
Restaurant
full of your friends.
Q: Talking to clients?
A: Survey, key search terms, call
centre, content..
sales team may also know, can
summarize over many customers.