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PIVOTINGNathan Furr
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BUSINESS MODEL
COMPETITION
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The BMCis NOT a Business Plan
Competition What are we rewarding?
The process
Testing assumptions
Making needed changes
Validation from customers
What are we NOT rewarding?
Sales pitch about the product
Massive but un-validated markets
Hot air claims
Fancy teams and advisors
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The Three Keys to the BMC
1. Identify assumptions
Use canvas scorecard
2. Test assumptions with customers
3. Pivot and tell the story
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Surprising Examples:
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How Will We Know
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PIVOTS
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What Is
a Pivot?
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Pivots
Adjust to Uncertainty
Correct Failure
Leverage Learning
Feel Good
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Are AllPivots
Good?
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Research Project
Multi-case study
10 innovative companies over 1 year
Successive interviews
Convenience sample of corporate innovators
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Dan and the Task Management Dilemma
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Pivot Broad Early
Focus matters
Go broad first
Try parallel
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Look for Pivot Takeoff
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Dont Stop Pivoting
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BACK TO THE BMC
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How Will We Know
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