The Entrepreneur is an ambitious, scrappy individual who takes risks to start a new venture. With a "never give up" attitude, he is relentless in doing everything and experimenting anything in pursuit of growth. The entrepreneur wears many hats with a wide range of tasks - from the large (securing investment) to the small (paying the bills). Spot them networking and talking to stakeholders, building their value propositions and business, and pitching to sell solutions.
Phase 1 - Understand the Context
Envision new future vision.
Explore and prioritize market segment to pinpoint the next opportunities.
Determine total addressable market size.
Map stakeholders to understand the context dynamics.
Create customer profiles and personas of key stakeholders.
Define criteria and recruit ideal research participants.
Conduct interviews with stakeholders.
Observe target in their environmental context.
Extract insights from research data.
Conduct benchmark research and best practices on similar solutions.
Define hypothesis to test and identify assumptions to validate.
Develop experiments to test hypothesis and validate assumptions.
Conduct market testing and validation with stakeholders.
Perform usability testing with target users.
Conduct A/B testing.
Identify price elasticity of demand of the value proposition.
Understand existing business model.
Define jobs-to-be-done of stakeholders.
Phase 2 - DESIGN THE VALUE
Design product and service experiences.
Design an ideal experience journey of the idea.
Develop new value proposition.
Evaluate ideas to implement based on criteria.
Define features to build as minimum valuable proposition.
Prototype ideas into tangible experiences.
Phase 3 - ORCHESTRATE FOR GROWTH
Define and implement new growth strategy.
Develop and implement innovation strategy and roadmap.
Develop business model.
Define key metrics to measure progress.
Pinpoint new brand positioning in the market.
Define partnership structure that complements strategies.
Forge collaborations and partnerships with complementary players.
Determine the cash burn rate of the organization.
Determine the cost of acquiring new customers.
Develop pricing structure.
Determine discount strategy.
Develop and manage financial plan.
Determine funding requirements to raise capital.
Develop and execute marketing plan.
Calculate retention cohort analysis.
Develop sales process to close sales from leads.
Develop standard operating procedure and processes.
Allocate resources to implement and manage operations.
Define capability and resource requirements.
Develop manpower structure.