The Global Online University for Venture Creation, Support, Acceleration & Funding

1. The Global Online University for Venture Creation, Support, Acceleration & Funding www.AcceleratorU.com

2. How to apply "Lean" methodologies… to rapidly validate your idea Simon Brightman Co-Founder, CEO & Venture Coach – AcceleratorU Head of Product Development & Innovation – Panvista Mobile Overall Product Guy

3. Learning Objectives • Upon completion of this workshop, you will: • Understand how to apply a lean validation method to your idea • Articulate compelling Short, Medium & Long Term Impacts of a potential solution, for a targeted audience • Be able to immediately validate these impacts with target market users…tomorrow…and move 10x time faster with the right idea now

4. Agenda • How to complete the workshop exercises – 2 min • Lean Validation 101 – 3 min • Defining your core target user & their problem – 6 min • Assessing current barriers to solution – 4 min • Defining short, medium & long term impacts – 6 min • Next steps to validation – 2 min

5. How to complete this workshop(successfully)

6. Don’t just listen to me…start the work right now • Option 1 – Online • Open your devices to www.AcceleratorU.com/av101 enter code sltnextor pay the 45 bucks, your call • Go to www.AcceleratorU.com/sb to fill out the work in your Solution Builder account in the designated sections as we progress • Option 2 – Use the paper template • Feel free to grab the slides right now www.AcceleratorU.com/next

7. Lean Validation 101

8. The 3 things we validate Successful validation at each stage is comprised of a series of exercises/tests that successfully establish results in three key areas Core Value & impact – That the impact we are offering by solving an identified market problem is indeed valued by our target audience Core Capabilities – That the manner in which we aim to solve this (via a product or service with certain capabilities & features) indeed does this successfully for our target audience Willingness to adopt & pay – That the models we have defined for adoption and payment are such that target audiences will indeed adopt and pay for our solution

9. - Validating Core Value & Impact - Step #1 in the “Product Validation Process” Costs Risk Uncertainty Prototype Model Validate Capabilities Core Impact Full Rollout & Operations Next Stepsto market Investment Beta Prototype

10. The User & Their Problem(or, is this a real problem I am on to?)

11. Step 1 – Define the User & Problem Go to Solution Builder Step 2 or use the handout Let’s define the problem, from a specific individual’s perspective so it’s actually meaningful We start by defining who the person is. Spell out their main attributes (e.g. context of use, age, gender, other attributes) What is the problem you propose to solve? What can’t they do today, that they would value doing (or doing better)? State this in 140 characters or less THIS STEP IS NOT ABOUT SOLUTIONS, SO DON’T GO THERE. FIGHT IT (6 minutes)

12. Step 1 – Define the User & Problem • A few key questions to ask and honestly answer: • Is this a real problem? • Is it a compelling problem? • Is it pervasive/affecting a large population? Use our -1, 0, +1 approach to ranking -1 = weak/no, 0=neutral, +1= strong/yes

13. Barriers to a Solution(or, why is there a need for something new?)

14. Step 2 - Barriers to a Solution • Go to Solution Builder Step 2 or use the handout • Now, let’s ask • How is this problem being addressed today, if at all? • What is preventing people from having a solution today? • (4 minutes)

15. Establishing Impacts (or, why would Jim or Jane really care about what you are proposing?)

16. Step 3 - Establishing Impact • Go to Solution Builder Step 3 or use the handout • Now we articulate the Impact & Value across three horizons: Short, Medium & Long Terms Most people focus on only one (usually short or long terms), which is wrong as a whole • Multi-horizon impacts are essential to designing and creating a truly compelling solution to real problems…and not just a quick fix that may sound great but could disappear overnight

17. Step 3 - Establishing Impact • We will seek to quantify the impact. This does not have to be scientific, but we should be able to measure it (progress, improvements, changes Δ, reduction in x, etc) • Here, we will just define Short Term impacts • Use the handout or Solution Builder 3 • (6 minutes)

18. Step 3 - Establishing Impact • Some guidelines: • The timeframes are not scientific but should be used as directional: • Short Term (within the next 30-90 days): • People are focused on their own/immediate needs and issues. That’s just the way it is. No sense fighting nature • So, in the short term, we seek to understand how it affects the individual and their immediate environment

19. Step 3 - Establishing Impact • In the Medium Term (3 months to a year+), how does it affect my community and broader personal, community and professional environments? • In the longer term (over several years) how does it affect society, the systems at play, government and the environment? • Articulate the impacts such that they can be measured

20. Step 3 - Establishing Impact (let’s do it)

21. Step 3 - Establishing Impact

22. Step 3 - Establishing Impact

23. Step 3 - Establishing Impact • A few questions to ask (and score with -1/0/+1 schema) • Is the impact compelling across each horizon? • Can you indeed measure the impact? • Is the value that people would see as an outcome truly compelling? • You will validate this with people, but what is your honest assessment? Do not be afraid to go back and refine it. Its cheap, easy and better to do this now!!!

24. Validating all this (or, how do I make sure this works)

25. Step 4 – Validating the Core Value & Impacts • Where to from here? • Complete the impacts across horizons • Identify 12 people from your target group (not friends, family) • Tell them the following “story” and then ask them to rate it“I am considering developing a solution that will <insert in 140 characters or less the main problem you defined>”It will aim to <insert 1st, 2nd and 3rd short term impacts, all in less than 140 characters> • Be prepared to go back and make changes

26. For our friends Grab the program during the next 14 days www.AcceleratorU.com/av101 code sltnext Grab our App, you will want it (“acceleratoru” in app stores) Contact us helpme@acceleratoru.com if you…need help