ExperimentFirst
Unit of Wheelhouse Venture Partners
Starting points
you
You are an intra(entre)preneur, working on a project, heading up a team, or responsibile for innovations inside your organisation
A problem that you've seen, heard, or experienced
A good idea, but no implementation plan. A great set of projects, but no core innovation
A detailed plan, but no organisational capacity to deliver.
or unsure on where to start with your solution, how to take it forward, whether to take risk on it or not?
End of Program
leave with
Self-defined 8 week goals/ outcomes.
Customers, signed up
Investor deck pitched tested
Minimum Viable Product, defined
Website (alpha)
Business model tested
Customer pitch, verified
Team/Board of advisors.
Film (video, animation story)
Next 8 week sprint defined
Partnership letter of intent
*Other self-defined outcomes
Customer
Development
Search - 8 week sprint
relevant high-value, personal introductions / Group Hangouts with entrepeneurs, potential customers, partners, suppliers,
15+
hour(s) of one to one calls on a frequent basis with your virtual co-founder
16+
Getting out of the building with customer/user
interviews
20+
hours of online videos, blogs, assignments
20+
10+
website developer hours, film-animator hours.
One to Ones: Week 1-2
problem definition and narrative, 2 constraints with 2 corresponding solutions...
One to Ones: Week 3-4
Customer/user discovery, interview scripts, and value propositions for 2 solution designs...
One to Ones: Week 5-6
Defining minimum viable products for 2 solution designs, behaviour change and impact defined...
One to Ones: Week 7
partners/team/revenue streams/cost structures...
One to Ones: Week 8
Distribution, strategic intent, one defined executable path...
Knowledge:
Value Proposition - - Customer Relations - How do you get, keep and grow customers?
SPIN selling Neil Rackham
and more....
Knowledge:
Before you Get Started
What We Know Now
Business Models & Customer Development
and more....
Business Model
Development
One to Ones: Week 0
Interview, expectation setting, kick-off, program guide, pre-requisites., intro to Innovation Canvas
Unlearn
Shutup and Listen
Replay and Search
Show, not tell, to sell
Make it happen
Scale
Knowledge
Skills
Mindsets
Introductions
Resources
Your job is to sell before developing any feature
Knowledge:
Customer Segments - How do you find your customer archetype?
12 Tips for Early Customer Interviews
Bad Customer Development Questions - Why innovators love constraints
Innovating from constraint in the developing world
and more....
Knowledge:
“MVPs have twin goals: learning what problems we should be solving, and driving risk out of our current (hypothetical) business model by testing fundamental assumptions.”
How to Test Your Minimum Viable Product
Don’t let the minimum win over the viable
and more...
Get out of the building:
- Create Interview Scripts:
- 10+ customers to test your problem hypotheses
Update Innovation Canvas:
- Define 2 problem definitions
- Define what you're not going to do
Your job is to go go go with one solution
Package your value to customers, not features for users
Your job is to 'search' for a repeatable and scalable model.
Know the rules: This is not a project or a business, but a startup
Act on scale now
Get out of the building:
- Create customer pitch deck
- 10+ customers
Get out of the building:
- Interview 10+ customers
- Sign up: 1+ customers
Get out of the building:
Interview 10 people to test revenue and cost hypotheses
Get out of the building:
Interview 10 people to test your distribution hypotheses
- Sign up 10 customers
Update Innovation Canvas:
- Define value proposition for 2 problems.
- Define what's not in the value proposition
Update Innovation Canvas:
- Define, design or develop 2 minimum viable products
- Define what's not in minimum viable product
Knowledge:
Channels - How does your product get to customers?
What’s your strategic intent?
Distribution is God
and more...
Update Innovation Canvas:
- Choose what you will execute
Update Innovation Canvas:
- Choose what you will execute
Build momentum:
- Design your days with Co.Creator slots for 20-30 minutes every day
- Design principles: Fail-fast, test everything, "get (right) shit done"
Knowledge:
Revenue Models - How do you make your money?
Partners - Who are your partners and suppliers?
Resources, Activities and Costs - What is most important for the business?
and more....
