What do you do, when you are a big fan of Assumptions Mapping as brought forward to David J Bland of Precoil, but you are not into doing a lot of Post It’s on a wall? You of course build an Excel model for it.
I have been using Assumptions Mapping for a couple of years now, but I have always struggled to use it in fx a workshop setting, because the concept with the quadrant, identifying knowledge gaps etc is foreign to many people. My experience is that it often goes much better if you just have a conversation, ask questions and plot down the answers.
So, I build a model in Excel that does exactly that. It lets you ask all the questions, make notes and score each answer based on the degree you have hard data on it and its criticality to the overall project. Once scores, the model will build a scatter chart with the correct labels, and in an instant you will have a visualization, you can work from. Cool, huh?
(Illustration: Visualisering fra modellen)
The other day I sat down with one of our investments to discuss their potential future direction. It was an interesting and productive session with some key questions arising during the conversation. One of those discussions was around who the customer actually is?
If you’re developing a B2B solution, is your customer the company, you want to sell to, or the person(s) actually making the buying decision? The answer has huge implications. Because it has a big bearing on how you frame your value proposition, how you go to market and what you need to do to close deals and show value after the purpose.
My general opinion is that the more you can focus on the one customer – the actual person – the better. The more you try to put a value proposition together for companies and teams, the more watered down it risk being because you have to fit too many different needs into just a single box. When you focus on just Customer #1, you can be really razor-sharp. And that is exactly what you need.
During the years I have met many people who have been incredibly frustrated trying to make good use of Business Model Canvas. They often follow a traditional hype cycle, where they start up enthusiastically and full of energy and purpose only to burn out after a week or two with little progress.
While it is easy to blame the tool, the tool is not to blame here. It is more about how people are trying to use it and how little knowledge they have about effectively using it. Because Business Model Canvas can be an incredible useful tool – if you know how to use it to orchestrate building your business model.
It is a hard thing to teach, so the best thing is to show it. Luckily there is a poster boy example of stellar use of it from the International Business Model Competition in 2013, where OWLET knocked it out of the park and won with their incredible use of the model. Go and watch the video here – and then go and get the true value out of Business Model Canvas.