Reaching Product-Market Fit
Let's face the facts: most startups fail within a couple of years!
It's not enough to have an idea, even a product, you need a market and a way to reach it. Fact is, most startups who close shop do it because they run out of cash, and they run out of cash because they don't sell enough.
In this workshop, we help identify your core audience and their needs, your core value proposition and how to reach them cost-effectively.
In other words, we help you reach product-market fit and generate traction.
So, if you who don't really know where to start and want to beat the odds, or are feeling stuck, this workshop is for you!
We'll help you beat the odds!
In this 2-day workshop, we cover all the steps to reach product-market fit leveraging lean + agile practices and design-thinking.
1-We start by introducing the "business model canvas" to understand the key components, particularly how to create value, how to deliver that value and how to monetise that value. This is a short intro to understand how it all fits together and how to create a fly-wheel.
2-We will look in detail at how to develop your idea, going through customer decision journeys, personas, stories and customer value proposition (CVP). We will go through human motivations and needs to ensure your product meets several of them and becomes irresistible!
3-From there, you will have a strong hypothesis of who your core customers are, what their needs are, and how to solve these. We will therefore move on to research and testing, to help you validate the initial commercial assumptions as well as whether your prototype is delivering, ie reaching Product-Market Fit.
4-Lastly, we will help you build your go-to-market and get traction through growth hacking techniques, including viral acquisition. We will dig into the data and analytics you need (such as cohort analysis) to ensure you are going in the right direction. We will help you compare the various channels, test the various tactics and messages, so as to compute a CAC (customer acquisition cost) and LTV (customer lifetime value) and prioritise your tactics based on ROI. We will help you set up a conversion funnel for you to track your leads, as well as a scorecard. With this, you'll have a strong commercial proof of concept (CPoC) to include in your discussions with investors, showing them you have a clear path to profitable growth.
We will work through concrete examples from several industries. Most importantly, as we take you through the process, you will be working on your own idea, so when you leave the workshop you have a strong foundation and a clear plan for next steps.
Who is it for
The primary audience for this workshop is early stage entrepreneurs: people who don't really know where to start and want to beat the odds by understanding the key factors of success.
This workshop will help you save time and money on your process, as well as get increased confidence your idea has a real commercial potential.
This workshop is perfect for CEOs and any team member in charge of growth, revenue or commercial operations, such as CMOs (chief marketing officer), COOs (chief operating officer), CCOs (chief commercial officer) and CROs (chief revenue officer); however tech and product team members are welcome as it is beneficial for them to understand the process and get involved in the business model, particularly the user stories that define the key products requirements.
The approach works in B2B and B2C, across all types of industry and business model, but we will tailor based upon the specific audience.
In a multi-company audience, we ask each participant to sign an NDA, so we can share freely.
If you wish, we can organise a workshop just for your startup, so we can go in more detail in your specific idea.
In addition to entrepreneurs, this workshop is also suited to students, Entrepreneurs in Residence (EiR), VC analysts and corporate innovation teams.
This workshop takes place at regular dates in both Sydney and Melbourne - please contact us for the next available date.
We are happy to organise the workshop in other cities, attendance allowing.
We give "quantity" discounts when registering several attendants from the same company.
For single-company workshop, we suggest 5-10 team members. We can facilitate at your offices or off-site.
Please contact us for a quote or any question.
For multi-company audience, we limit the attendance to 15 people, preferably in groups of 2-3 people from the same company.
For fees, please refer to the "workshops" page
We look forward to seeing you there!