Mais conteúdo relacionado Semelhante a Ls InnoBiotech (11) Mais de Leonardo Zangrando (10) Ls InnoBiotech1. n
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LearningStartup
From Business_Idea to Business_Venture
«Inventors - Entrepreneurs»
Lean Startup, Customer Development, Pretotyping
Leonardo Zangrando, MBA, MEng
LearningStartup Coach
December 2012 LearningStartup
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Leonardo Zangrando
@ lionz
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Profile
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Mechanical Engineer, MBA
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First Level Degree in Pharma & Biotech Licensing – PLG-UK
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Business Management Consulting
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Strategy, Licensing, Marketing & Sales, Production
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Pharma/Biotech, Wines & Spirits, Mechanical, Transportation and Logistics
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Training/Coaching
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sales organizations in Pharma and Biotech
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institutions supporting innovation and entrepreneurship
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Innovation entrepreneur
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founder of LearningStartup, the first Italian, hands-on methodology
supporting innovation and company creation
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founder of Pretotype.it, the European website for Pretotyping, the innovation process
developed in Google and used in several startups and Fortune 500 companies
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developing Pretotyping adoption in Europe, translated the Pretotype it book to Italian
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Seminars and hands-on workshops for innovation companies
Pretotype.it
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“Lean” methodology for the validation and implementation of innovation
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experimental process for validation - Pretotyping
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 2
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Product Development Cycle @
Phase Research Development Industrialization
Clinical trials
Activity Experimentation Optimization
Prototyping
Laboratory Journal Production Specs
Output Production plant
Experimental tests Product Plans
Questions What Does It Do? How Is It Made? How Is It Built?
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Message @
The Inventor / Researcher / The Entrepreneur
Scientist / Engineer
follows a path follows a path
to transform to transform
an Idea into a Product an Idea into a Business
the Business is the Product of the Entrepreneur
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Business Development Cycle @
Phase Research Development Industrialization
pre- or early-
Activity Start-up Scale-up
Start-up
Output Product/Market Fit Business Model Business Plan
Questions What Does It Do? How Is It Made? How Is It Built?
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Message @
The Business works around Value
what it does and for whom
Create Deliver
Value Value
Value
Proposition
how does it create value how the value gets to the customer
Capture
Value
how can it extract value
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How does the Business “Develop”?
@ lionz
an
Activities
Remember, the Business is the Entrepreneur's “Product”
The Startup does “R&D” on how to
Create, Deliver, and Capture Value
Create Deliver
Value Value
Product Customer
Development Development
Business
Modelling
Capture
Value
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 7
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What do we Look for in Value Perspectives? an
@ lionz
Focus
Create Value – is it Feasible?
Deliver Value – is it Desirable?
Capture Value – is it Viable?
Create Deliver
Value Value
Feasibility Desirability
Viability
Profitable
Repeatable
Scalable
Capture
Value
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 8
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Let's Put it All Together
@ lionz
an
Phase Research Development Industrialization
Create
How is it done Product
Value What does it do? How is it made? production Development
Feasibility
Deliver
How to get How is it done Customr
Questions Value For whom? marketing & sales
Desirability to them? Development
Capture
Value How does it How is it done Business
How does it work? overall business
Viability make money? Modelling
Activity pre- or early-
Start-up Scale-up
Start-up
Output Product/Market Fit Business Model Business Plan
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 9
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Let's Put it All Together
@ lionz
an
(and here's the inventor again)
Phase Research Development Industrialization
Not enough being a good inventor...
Create
How is it done Product
Value What does it do? How is it made? production Development
Feasibility
Deliver
How to get How is it done Customr
Questions Value For whom? marketing & sales
Desirability to them? Development
Capture
How does it How is it done Business
Value How does it work? overall business
Viability make money? Modelling
Activity pre- or early-
Start-up Scale-up
Start-up
Output Product/Market Fit Business Model Business Plan
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 10
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Let's Put it All Together
@ lionz
an
(and here's the inventor again)
Phase Research Development Industrialization
Not enough being a good inventor...
Create
How is it done Product
Value What does it do? How is it made? production Development
Feasibility
Deliver
How to get How is it done Customr
Questions Value For whom? marketing & sales
Desirability to them? Development
Capture
How does it How is it done Business
Value How does it work? overall business
Viability make money? Modelling
...you must also think transversally!
Activity pre- or early-
Start-up Scale-up
Start-up
Output Product/Market Fit Business Model Business Plan
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lionz
“Product / Market Fit” @
The initial startup phase works on the
Value Proposition
answering the questions
“What Does the Business Do
and For Whom”
These two pieces must match!
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lionz
“What Does the Business Do...” @
Which is the Product
How Does the Business Create Value
Is the product Feasible?
For an Inventor
these are the fundamental questions
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 13
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“...and For Whom” @
Who is the Business' Customer
To Whom Does it Deliver Value
Is it Desirable? (= do they care?)
For an Entrepreneur these are the key questions
The Customer is a key piece from the very beginning!
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 14
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“From the very beginning!”...but Biotech is different! lionzan
@
Really? Let's think where the Risk is
“What does the business do” “For whom does it do it”
Product Market
Technology Risk Customer Risk
Can we do it? Will they want it?
In my sector where is the risk?
Watch out! Do not underestimate Customer Risk
Also big pharmaceuticals suffered for this mistake
Year 2005 Pfizer Exhubera – inhalation insulin
Forecast Sales $2bn → Actual Sales $12M
Product withdrawn, total loss $2.8bn
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Tragical Errors @
Technology Risk Technology Risk
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“But I...” ●
“But you...”
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I am clearly in a sector where “if you ●
Probably only a truly life-saving cure
make it they will buy it” falls in this category
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Before having a working product I ●
It's certainly easier and more
can't do anything to verify the satisfying to focus on the things we
market know and manage better...
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I start making it, then someone will ●
Not taking all responsibility for the
sell it success from the beginning is daring
too much!
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Tragical Errors @
Phase Research Development Industrialization
Create
How is it done Product
Value What does it do? How is it made? production Development
Feasibility
Deliver
How to get How is it done Customr
Questions Value For whom? marketing & sales
Desirability to them? Development
Capture
Value How does it How is it done Business
How does it work? overall business
Viability make money? Modelling
Activity pre- or early-
Start-up Scale-up
Start-up
Output Product/Market Fit Business Model Business Plan
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OK, but how do you do it? @
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Product/Market Fit
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Test the market from day one with product concepts or
“Pretotypes” to identify Product/Market Fit
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Minimum Viable Product
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Focus research on getting to MVPs that allow
to test the market ASAP
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Early Customer Development
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Explore from the very beginning adjacent markets
for the use of my technology
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 18
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-Tool-
@ lionz
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Pretotyping
Pretotype*
Any low-cost, mocked, or virtual version of a product
that doesn't exist yet, used to to observe the reactions
of interest and use of customers
Can we validate some market assumption
without using the product but only a mockup of it?
(Think Exhubera)
* Pretotype it book available for free download
pretotype.it/english/download
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-Tool-
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MVP – Minimum Viable Product
Minimum Viable Product
The minimum product from which we can
get some relevant information from the market
Can we validate any assumption about the market
before completing product development?
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-Activity-
@ lionz
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Early Customer Development
Validate market assumptions
by interacting with the market from day one
From the Interaction we learn about our customers:
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Who could become our first customer
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Which ones could be our customers, which ones not
Explore and validate the Value Proposition:
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in what it's better than existing solution, in what it's not?
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Validate Assumptions About the Market @
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These are the assumptions about which will be the market
we could discover unexplored market
(e.g. Sildenafil for angina pectoris)
● we could discover that for some reason the market does
not accept our soulution even if it needs it, e.g.
marginally better product
“side effects” not considered in our assmptions
(relations with other stakeholders, common practice, etc.)
change of consolidated processes
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These are also the assumptions we make about the
product, that somehow interact with the market
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e.g. Exhubera, use an inhaler for insulin
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Example Biotech Onco @
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Create a product profile and interact early on with potential stakeholder
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prepare a product profile including
– delivery
– therapeutic progression
– interaction with other products
– potential collateral effects
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present it to all stakeholders involved in a particular indication, e.g.
– oncologists
– patients
– payers
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Understand how the product could be integrated in the current therapeutic
progression: quite often clinical decisions are made on factors other than what
molecular target is being targeted by the product.
● Learn more on pretotype.it/industries/biotech
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Wrapping up @
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From Inventor to Entrepreneur: get (serious) in business
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consider market in the business equation from day one
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design product development activities to allow for learning about the market
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consider also market aspects not strictly product-related
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Additionally
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if I'm a research purist, I SHOULDN'T think of myself as an entrepreneur
(I hurt myself and the others), rather I seek help!
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if I'm not taking the market into account because “I don't know how to do it”,
I seek help!
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if I look for investors without experience of the sector “so they don't meddle with my
business,” WATCH OUT! (I hurt myself and them) money alone is not enough to get a
business off the ground
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I do look for investors that know my sector, I want a hand from who is into the business
already, investors who can guide me are worth more than their money
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Enjoy your startup! @
This presentation is available on
learningstartup.org/LSinn-biotech
LearningStartup
From Business_Idea to Business_Venture
Leonardo Zangrando
Learning Startup
leonardo@learningstartup.org
+39 349 4627 186
30 Nov 2012 ©2012 Leonardo Zangrando, LearningStartup 25