Assumptions, Validations, BMC and Hummus

So you know how this story goes...

You pull out an existing presentation. You revamp it, refresh it. You drive up north to Nazareth. You're late. You run an intense Business Model Canvas workshop. The entrepreneurs ask lots of questions. They get value. Workshop ends. You go and eat meat and Hummus at the best place in Nazareth called Hummus Al Sheikh! You can barely get up. Your wife drives home. You enter the house. You drop on your back on the main carpet in the entrance and close your eyes. Apchi (your dog) stands over you and stares at you. Luckily she doesn't drool.

Another great workshop with an amazing entrepreneur start list. 13 great ideas, 13 potentials. I wish you guys all the best.

Although this is a standard Business Model Canvas workshop, I decided to focus on the customer segment part and drill down into the different practical techniques an entrepreneur can follow to identify, test, re-iterate and hone in on the best target audience for the venture.

I used Alex Cowan's great article that explains the Business Model Canvas in more detail. He also puts a great emphasis on the definition of customer segments using the Think-Feel-See-Do model alongside the Problem-Alternative-Value model. A great read for anyone who is looking to figure out how to use the Business Model Canvas.

He also details some great examples on how to survey or interview potential customers. This I found to be of great value as most of the time, first-time entrepreneurs ask the question "What do I actually ask when I speak to potential users or customers?". Well, RTF(A) - Read the F#$$# Article :-)

Thanks to NazDIV and StarTau for enabling me to run this workshop!


Business Model Canvas @ StarTau - Class 15

5:30pm, Room 207, Engineering building. Tel Aviv University is apparently a maze. You gain extra academic credits if you make it on time to a lecture. Essentially, you can graduate by only attending classes and lectures on time :-)

After a slight delay, everyone made it to the lecture. It's always a great pleasure to meet so many aspiring entrepreneurs with great ideas.

As always, the workshop was split into 2 parts. The first part was more theoretical and the second part included an interactive workshop.

In the first part, I walked the group through the reasoning behind the BMC (Business Model Canvas) and the 2 most important metrics that are required to create a balanced and successful business model - the CAC and LTV.

As always, a very good debate and discussion on each of the 9 elements of the BMC. I wish everyone the utmost luck throughout the program.

I'll be watching you throughout the program.

See you soon everyone.