Hacking for Recovery syllabus

Hacking for Recovery syllabus

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  Page 1 of14 Final H4R Syllabus Hacking 4 Recovery A 5-day popup class at Stanford There are no facts inside the building so get the heck outside Instructors: Steve Blank, Tom Bedecarré, Steve Weinstein, Pete Newell, Tina Seelig, Mar Hershenson Mentors: Todd Basche TA’s: Jin Woo Yu, Valeria Rincon, Nicole Orsak, Diva Sharma The pandemic has upended the business models of most startups and existing companies. Starting June 29th we’re holding a series of 5-day online classes to help companies find new markets, new customers and new revenue models. The class is a 5-day version of The Lean LaunchPad/Hacking For Defense/National Science Foundation I-Corps classes. Students write down their hypotheses about their new business and “get out of the Zoom room” and talk to 10-15 customers/partners each day to validate whether their assumptions are correct. Teams will also build Minimal Viable Products (incremental and iterative prototypes) to show to prospective customers each day. We’ll use the Market Opportunity Navigator,the Business Model Canvas, and the Value Proposition Canvas to systematically discover valuable new opportunities. Teams can explore a wide range of options for creating new business ideas or enhancing existing ones. For example: ● Create New Businesses - how has the pandemic changed consumer and business needs for familiar markets ● Pivot into adjacent markets - Can your existing business pivot into adjacent markets based on your existing assets in your business model ● Find a market for your technology - how can your technology come to market during the pandemic ● Pivot into new distribution channels - are there new post-pandemic distribution channels ● Asset collectors - Sweeping up assets that become available due to COVID-19 ● Digital acceleration - Given the world's exposure to remote everything can you pivot to a fully digital business model. ● New regulatory regimes -The barriers have come down for telemedicine, diagnostics, and vaccines ● COVID-19 protectors - Pivot towards making face masks, hand sanitizer, and ventilators
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  Page 2 of14 Final H4R Syllabus Hacking 4 Recovery: Syllabus Class Roadmap This class only works if your entire team watches the videos, does the readings and talks to customers Each day’s class is organized around: ● Pre-reading for the upcoming day ● Getting out of the building and interviewing 10-15 customers a day ● Building a set of MVPs ● Daily team presentations on their “lessons learned” from getting out of the building and iterating or pivoting their business model. ● Lectures on the Lean Methodology ● Office hours with the teaching team and mentors. This is an experiential hands-on practical class – not a set of lectures or case studies. Our goal, within the constraints of a Zoom room and a limited amount of time, is to create an entrepreneurial experience for you. You will be getting your hands dirty talking to customers, partners, and competitors – as you encounter the chaos and uncertainty of how a startup actually works. You’ll work in teams learning how to turn a great idea into a great company. You’ll learn how to use a business model to brainstorm each part of a company and customer development to get out of the Zoom room to see whether anyone other than you would want/use your product. Finally, based on the customer and market feedback you gather, you will use agile development to rapidly iterate your product to build something customers would actually use and buy. Each day will be a new adventure outside the Zoom room as you test each part of your business model and then share the hard-earned knowledge with the rest of the class. Team Organization This class is designed around having a team of 4 working on your project. At times you may lose a team member during the class, but we will support you if the remaining team members decide to go forward. MVPs Getting out of the building not only involves talking to people but showing them what you have in mind. Minimum Valuable Products (MVP) can simply be a PowerPoint slide, wireframe, clay model, sample data set, sales brochure, etc. Each time you build an MVP, you also define what you are trying to test/measure. Later, as more is learned, the MVP’s go from low fidelity to higher fidelity – but the goal continues to be maximizing learning from customer feedback..
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  Page 3 of14 Final H4R Syllabus
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  Page 4 of14 Final H4R Syllabus Website ● https://h4r.stanford.edu Texts ● The Startup Owner’s Manual, Steve Blank and Bob Dorf ● Business Model Generation, Alexander Osterwalder and Yves Pigneur Before the Class on Monday, June 29th We expect you to have: ● Talked to 10-15 customers before the first class meets ● Filled out the 3 worksheets of the Market Opportunity Navigator ● Updated your Business Model Canvas based on your first 10-15 interviews ● Set up meetings for the rest of the week with ‘hard to get to’ potential customers. ● Watched Udacity EP245 Video 3 of Lesson 1 and all of Lesson 2 and Lean Launchpad Customer Discovery Videos: CD-40, CD-30, CD-31, CD-32, CD-33, CD-34, CD-49, CD-50, CD-51
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  Page 5 of14 Final H4R Syllabus Monday, June 29th Time: 4:00 – 4:10 PDT Welcome to the Class (Tom Bedecarré) Zoom Class Etiquette 4:10 – 4:20 PDT Format for the Week (Steve Weinstein) Introducing Hacking 4 Recovery Teams Time: 4:20 – 5:10 PM PDT Team Presentations to the class Market Opportunity Navigatorand Business Model Canvas ● 4 Teams present to the whole class, 12 minute presentation/Q&A ● Team presentations – each team will present the 3 worksheets of the Market Opportunity Navigator and updated Business Model Canvas (see readings above) Time: 5:10 – 5:25 PM PDT Activity: Coffee Break Time: 5:25 – 6:15 PM PDT Activity: Team Presentations/Breakout Sessions ● Team presentations – each team will present the 3 worksheets of the Market Opportunity Navigator and updated Business Model Canvas ● Class will be split into 5 Zoom breakout rooms, 12 minute presentation/Q&A Time: 6:15 – 6:30 PM PDT Activity: Coffee Break Time: 6:30 – 7:00 PM PDT Activity: Class Lecture Business Models/Customer Development (Steve Blank) The Art of Customer Discovery Time: 7:00 PM PDT – onward (optional) Activity: How to Talk to Customers (Steve Blank) ● Class Lecture/Role Play: How to Talk to Customers ● Understanding the problem, understanding the solution. Why it’s different than selling.
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  Page 6 of14 Final H4R Syllabus Before the Class onTuesday, June 30th We expect you to: Get out of the building and talk to 10-15 more customers and build an MVP Watch: Udacity EP245 Lessons 2 and 3 and Lean Launchpad Customer Discovery Videos – how to conduct effective interviews: CD-12, CD-01, CD-02, CD-03, CD-04, CD-25-26, CD-05-06, CD- 07-08 Read: ● The Startup Owner’s Manual, pages 53-84, 195-199 ● Business Model Generation, pages. 86-111, 135-145 ● Giff Constable: “12 Tips for Early Customer Development Interviews” ● Steve Blank: “What’s a Startup? First Principles” You will be presenting customer discovery insights tomorrow. Team Presentation for tomorrow, Tuesday June 30th: ● Slide 1: Cover slide ● Slide 2: Current Business Model Canvas with any changes marked ● Slide 3: Market size ● Slide 4: Type of business: IP, licensing, startup, unknown ● Slide 5: Proposed experiments to test customer segment, value proposition, channel and revenue model of the hypotheses: ● What constitutes a pass/fail signal for each test (e.g., at what point would you say that your hypothesis wasn’t even close to correct)? ● See examples at steveblank.com Class starts at 4:00 PM PDT on Tuesday.
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  Page 7 of14 Final H4R Syllabus Tuesday, June 30th Time: Until 4:00 PM PDT Activity: Customer Discovery Location: Get out of the building! We expect you to have set up meetings to interview potential customers. Time: 4:00 – 5:00 PM PDT Activity: Office Hours (Appointments assigned for each team) Time: 5:00 – 5:30 PM PDT Activity: Class Lecture Creativity with Constraints (Tina Seelig) Tina will lecture and engage the class on creativity. See: What I Wish I Knew When I Was 20 Time: 5:30 – 6:20 PM PDT Activity: Team Presentations/Breakout Sessions ● Class will be split into 6 Zoom breakout rooms, 12 minute presentation/Q&A Time: 6:20 – 6:30 PM PDT Activity: Coffee Break Time: 6:30 – 7:05 PM PDT Activity: Class Lecture and Discussion Value Proposition / Customer Segments (Steve Blank) Class Discussion: What is your product or service? How does it differ from an idea? Why will people want it? Who’s the competition and how does your customer view these competitive offerings? Where’s the market? What’s the minimum feature set? What’s the market type? What was your inspiration or impetus? What assumptions drove you to this? What unique insight do you have into the market dynamics or into a technological shift that makes this a fresh opportunity? Who’s the customer? User? Payer? How are they different? Why do they buy? How can you reach them? How is a business customer different from a consumer? What’s a multi-sided market? What’s segmentation? What’s an archetype?
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  Page 8 of14 Final H4R Syllabus Before the Class onWednesday, July 1st We expect you to: Watch: Udacity EP245 Lessons 4, 5 and 6 and Lean Launchpad Customer Discovery Videos – avoiding pitfalls: CD-09-10, CD-11, CD-13, CD-20-21, CD-23-24, CD-28 Read: ● Business Model Generation, pp. 127-133, 146-150, 161-168 and 200-211 ● The Startup Owner’s Manual, pages 85-111 and 189-255, 406-412 Team Presentation for tomorrow, Wednesday January 15: ● Get out of the building and talk to as many people as you can. Come to class prepared to share your insights about: o What were your value proposition hypotheses? o What were your customer segment hypotheses? o What did potential customers think about your value proposition hypotheses? See examples at steveblank.com ● Slide 1: Cover slide ● Slide 2: Current Business Model Canvas with any changes marked ● Slide 3: Tell us about your Customer Segments ● Slide 4: Tell us how your Value Proposition appeals to or matches those Customer Segments ● Slide 5: What are your proposed experiments to test customer segment, value proposition, channel and revenue model of the hypotheses: o What constitutes a pass/fail signal for each test (e.g., at what point would you say that your hypothesis wasn’t even close to correct)? ● Slide 6 and others: What did you learn about your value proposition from talking to your first customers? o Hypothesis: Here’s What We Thought o Experiments: So Here’s What We Did o MVP: What MVP We Used During Our interviews o Results: So Here’s What We Found o Iterate: So Here’s What We Are Going to Do Next Class starts at 4:00 PM PDT on Wednesday.
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  Page 9 of14 Final H4R Syllabus Wednesday, July 1st Time: Until 4:00 PM PDT Activity: Customer Discovery Location: Get out of the building! We expect you to have set up meetings to talk to potential customers. Time: 4:00 – 5:00 PM PDT Activity: Office Hours (Appointments assigned for each team) Time: 5:00 – 5:50 PM PDT Activity: Team Presentations/Breakout Sessions ● Class will be split into 6 Zoom breakout rooms, 12 minute presentation/Q&A Time: 5:50 – 6:05 PM PDT Activity: Coffee Break Time: 6:05 – 7:00 PM PDT Activity: Class Lecture and Discussion Channels / Get, Keep, Grow / Revenue (Steve Blank) Class Discussion: What’s a channel? Physical vs. virtual channels. Direct channels, indirect channels, OEM. Multi- sided markets. B-to-B versus B-to-C channels and sales (business to business versus business to consumer) How do you Get, Keep and Grow customers? How does it differ on the web versus other channels? Evangelismvs. existing need or category? General Marketing, Sales Funnel, etc. How does demand creation differ in a multi-sided market? What’s a revenue model? What types of revenue streams are there? What are pricing tactics? How does revenue model and pricing differ on the web versus other channels? How does this differ in a multi-sided market?
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  Page 10 of14 Final H4R Syllabus Before the Class onThursday, July 2nd We expect you to: Watch: Udacity EP245 Lessons 7 and 8 and Lean Launchpad Customer Discovery Videos – key learning: CD-14-15, CD-16-17, CD-18-19, CD-22, CD-27 Read: ● The Startup Owner’s Manual, pages 227-256, 277-342 Team Presentation for tomorrow, Thursday, July 2nd: Get out of the building and talk to 10-15 potential channel partners face-to-face (Salesmen, OEM’s distributors, etc.). Come prepared to class to share your insights about: ● What were your hypotheses about who/what your channel would be? Did you learn anything different? ● Present and explain your marketing campaign. How will you Get customers? ● Did anything change about your Value Proposition? ● See examples at: slideshare.net/sblank/presentation-examples-for-class-5-distribution-channels and slideshare.net/sblank/presentation-examples-for-class-6-customer-relationships and slideshare.net/sblank/presentation-examples-for-class-7-revenue-models ● Slide 1: Cover slide ● Slide 2: Current Business Model Canvas with any changes marked ● Slide 3: Tell us about your Channels, Get Strategy and Revenue Model ● Slide 5: What are your proposed experiments to test your hypotheses for Channels, “Get” Strategy, and Revenue Model: o What constitutes a pass/fail signal for each test (e.g. at what point would you say that your hypothesis wasn’t even close to correct)? ● Slide 6 and others: o Hypothesis: Here’s What We Thought o Experiments: So Here’s What We Did o MVP: What MVP We Used During Our Interviews o Results: So Here’s What We Found o Iterate: So Here’s What We Are Going to Do Next Class starts at 4:00 PM PDT on Thursday.
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  Page 11 of14 Final H4R Syllabus Thursday, July 2nd Time: Until 4:00 PM PDT Activity: Customer Discovery Location: Get out of the building! We expect you to have set up meetings to talk to potential customers. Time: 4:00 – 5:00 PM PDT Activity: Office Hours Time: 5:00 – 5:50 PM PDT Activity: Team Presentations/Breakout Sessions ● Class will be split into 6 Zoom breakout rooms, 12 minute presentation/Q&A Time: 5:50 – 6:05 PM PDT Activity: Coffee Break Time: 6:05 – 7:00 PM PDT Activity: Class Lecture and Discussion Partners, Key Resources & Activities (Steve Weinstein) Class Discussion: Who are partners? Strategic alliances, competition, joint ventures, buyer, supplier, licensees. What resources do you need to build this business? How many people? What kind? Any hardware or software you need to buy? Any IP you need to license? How much money do you need to raise? When? Why?
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  Page 12 of14 Final H4R Syllabus Before the Class onFriday July 3rd Read: ● Business Model Generation, pages 200-211 ● The Startup Owner’s Manual, pages 406-412 Final Team Presentation for July 3rd: Get out of the building and talk to 10-15 customers. Final presentation format: ● 8 minute presentation o examples here: slideshare.net/sblank/tagged/Columbia o and here slideshare.net/sblank/tagged/stanford ● Here's what we thought - Day 1 o Day 1 canvas o Diagrams if you can draw any; text summary if not ● Here's what we learned - Days 2 - 4 o Days 2 - 4 canvases o Use diagrams o MVPs used ● Here's where we ended - Day 5 o Use diagrams o MVPs used o Text summary ● Here’s what we are going to do next Class starts at 4:00 PM PDT sharp tomorrow. Plan to arrive on the zoom at least 10 minutes before the start of the class.
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  Page 13 of14 Final H4R Syllabus Friday, July 3rd Time: Until 4:00 PM PDT Activity: Customer Discovery Location: Get out of the building! We expect you to have set up meetings to talk to potential customers. Time: 4:0 – 4:10 PM PDT Intro to Class for Guests (Steve Blank) 4:10 – 4:55 PM PDT Activity: Team Final Presentations ● 4 randomly selected teams present to the entire class, 10 minutes each Time: 4:55 – 5:10 PM PDT Activity: Coffee Break Time: 5:10 – 6:00 PM PDT Activity: Final Team Presentations/Breakout Sessions ● Class will be split into 5 rooms for final team presentations, 10 minutes each Time: 6:00 – 6:30 PM PDT Activity: Class Lecture and Discussion Costs and Metrics that Matter (Steve Blank) Class Lecture: Importance of cash flows? When do you get paid vs. when do you pay others? Pivot or Proceed: what data you need to assemble, and how to determine whether you have validated your business model to the point where moving forward makes sense. Time: 6:30 – 7:00 PM PDT Activity: Final Discussion (Q&A) Time: 7:00 PM PDT - onward (optional) Activity: Class Lecture and Discussion How an Angel Investor looks at your startup (Mar Hershenson) Mar Hershenson will give an interactive lecture on how her VC firm evaluates a startup.
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  Page 14 of14 Final H4R Syllabus Frequently Asked Questions Intellectual Property Who owns the intellectual property you use in the class? 1. You own what Intellectual Property (patents, hardware, algorithms, etc.) you brought to class with you. No one has claimto anything you brought to class (other than the rights Stanford and other entities may have.) 2. You all own any intellectual property developed during the class (such as code for a web- based project). If a team is working with a University-related technology (i.e., either research from one of the team members or a University patent), you must check with Stanford's Office of Technology Licensing (OTL) to better understand any University licensing and royalties issues. 3. You and your team members need to disclose to each other what IP/licensing rights any company you’ve worked at has to inventions you make at school. 4. If any of you decide to start a company based on the class, you own only what was written and completed in the class. You have no claimfor work done before or after the class. 5. If a subset of the team decides to start a company they do NOT “owe” anything to any other team members for work done in and during the class. All teammembers are free to start the same company, without permission of the others. (We would hope that a modicum of common sense and fairness would apply.) I feel my idea / Business Model may become a real company and the "next killer app" and I want to own it myself. What should I do? This is more than likely the wrong class to take. Your slides, notes and findings will be publically shared. Your team owns everything done in class. Discuss Intellectual Property rights with your team from the beginning. If you can’t come to agreement with the team, join another team, pick another project, or drop the class. Remember anything you do and learn in the class is public. Will my Intellectual Property rights be protected when I discuss my ideas with the class? NO. This is an open class. There are no non-disclosures. All of your presentations and customer discovery and validation notes, Business Model Canvas, blogs and slides can, and more likely will, be made public.