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Join the Santander Social Innovation Accelerator to create impact. Develop your startup idea in partnership with Value Proposition Mapping expert Rick Jackson. Learn through BizAccelerator to validate your business model, discover your customers, get mentor feedback, and keep momentum. Identify assumptions, conduct rapid prototyping, and prepare a strategic plan. Don't let common challenges hinder your success. Prioritize effectively, spend time in the market, and learn quickly. Understand your key assumptions around customers, problems, and solutions. Transition from unknowns to knowns by focusing on customer needs. Build confidence through customer discovery and validation. Implement your solution, such as a mobile car mechanic service for busy professionals needing routine maintenance on their cars in Los Angeles. Gain the trust of customers by providing convenient, transparent, and reliable repair services. Discover how to address market needs, adapt to customer preferences, and build a successful business that solves real problems.
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BOOTCAMP SOCIAL INNOVATION ACCELERATOR TO CREATE LASTING CHANGE POWERED BY SANTANDER developed in partnership with
Rick Jackson Founder, BizAccelerator
Business Model Validation Lab Customer Discovery Customer Validation Mentor Feedback Mentor Feedback Keep Momentum Identify Assumptions Rapid Prototyping Mentor Prep + Cost Assumptions Strategic Planning
No idea survivesfirst contact with customers’ • Steve Blank
10% of startups fail because of ______________ 90% of startups fail because of ______________
10% of startups fail because of product or technology failure • 90% of startups fail because ofinability to find customers and a market • Steve Blank
The Customer • Everything flows from validated assumptions of: • who the customer is • what the problem the customer has is • if entrepreneur is able to effectively address that problem with a solution • if the customer is willing to pay for it
Common Challenges • Entrepreneurs don’t know exactly how to prioritize what to focus on in the early days of their venture • Entrepreneurs don’t spend enough time in market • Entrepreneurs underestimate how fast they can learn
Today’s Plan • Determine your key assumptions
Your Job This Week Unknowns→Knowns
1. Customer 2. Problem 4. Value Prop 3. Solution
Level of Confidence (LoC) • Your Job: • Low LoC→ High LoC • How? • Customer Discovery and Validation (up next)
1. Customer 2. Problem Car isn’t running, engine light on, there is some issue with car • Need to get to work • Need to make money Owners of Japanese made cars, in the Los Angeles area, who use their car to commute to work every day and whose car is out of warrant Can’t find time for routine maintenance to avoid breakdowns 4. VP Mobile car mechanic exists to solve these problems by 1) coming to the customer to perform repairs 2) using technology to help them track, schedule and understand the need for routine repairs and others. Don’t know whether or not they can trust a mechanic to correctly diagnose the problem, tell them what’s wrong, not overcharge, do a good job fixing the problem A mobile mechanic service who will come to your car, either at home or at work, and uses technology to keep up with the schedule needed repairs for customers, remind the customer of those upcoming need, allow them to easily schedule appointments and send reports of diagnostics, in plain language, before repairs are done so customer is informed and can approve the repairs remotely. 3. Solution
