The other day I met with a startup in need of some advice. They have been working on their offering for a couple of years, and they felt stuck in terms of getting it to market and choosing the right approach.
They showed me their product, and it prompted a conversation about who they have developed the product for, and what they actually, factually know about the customers, they are trying to get to buy into their offering. It was a classic example of solution looking for a problem.
We took a step back and talked about the value proposition based around the Value Proposition Canvas. And when it came to the problem solving real pains for real customers, it was painfully obvious that the biggest issue for them was that there is a disconnect between the customer pain points and how the product looks and welcomes you.
They left with new insights and ideas into how to progress from here. Sometimes it just pays to rewind the clock and look at whether there is a connection for real between needs, pains and gains and the actual product.
One of the keys to efficiency is to have a great box of tools fit for the task(s) at hand. For the same reason we’re constantly working to put the best toolbox at InQvation Studio together.
We already have some sharp tools in the box – Trello for overview, Mural for ideation, Lean Stack for jotting down high-level concepts for test etc – but we’re looking for more that fits the bill: Efficient yet flexible downstream while maintaining structure and oversight upstream.
The general idea is that no tool should be too rigid while at the same time not being so flexible that it becomes a total mess to manage. A tall order, it seems. Have you come across any that fits the description? It so please reach out.
During the years I have met many people who have been incredibly frustrated trying to make good use of Business Model Canvas. They often follow a traditional hype cycle, where they start up enthusiastically and full of energy and purpose only to burn out after a week or two with little progress.
While it is easy to blame the tool, the tool is not to blame here. It is more about how people are trying to use it and how little knowledge they have about effectively using it. Because Business Model Canvas can be an incredible useful tool – if you know how to use it to orchestrate building your business model.
It is a hard thing to teach, so the best thing is to show it. Luckily there is a poster boy example of stellar use of it from the International Business Model Competition in 2013, where OWLET knocked it out of the park and won with their incredible use of the model. Go and watch the video here – and then go and get the true value out of Business Model Canvas.
Today marks a truly exciting new chapter in my professional life as I embark on a new role as Head of Studio at InQvation in Taastrup on the outskirts of Copenhagen, Denmark.
Together with the greatest colleagues, you can imagine, I will be running experiments on ideas for new businesses with the goal of validating them enough to enable us to build great companies with strong teams set for success.
I will be utilizing all my passion and experience from developing and validating concepts and business models, and I look so much forward to this insanely cool challenge.