The Playground for Entrepreneurs - Set up your Business and have Fun Meanwhile | Inge De Dreu | Skillshare

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The Playground for Entrepreneurs - Set up your Business and have Fun Meanwhile

teacher avatar Inge De Dreu, Playground for Entrepreneurs

Watch this class and thousands more

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Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

9 Lessons (1h 4m)
    • 1. Introduction to the Super Kickstart Crashcourse

      7:04
    • 2. Introduction to the Playground for Entrepreneurs and to Entrepreneurship

      12:06
    • 3. The Heart Area

      10:50
    • 4. The Ear Area

      8:40
    • 5. The Eye Area

      8:10
    • 6. The Hand Area

      5:05
    • 7. The Brain Area

      3:51
    • 8. Example: Undertrail

      4:55
    • 9. Wrap Up

      2:55
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About This Class

Testing out your best ideas, discovering your business model and setting up your business - whilst having a blast. That is what this course is all about - it is the Playground for Entrepreneurs!

In this class I want to take to take you through a reflection exercise that will help your entrepreneurial thinking and the development of your entrepreneurial ideas. This is a class that is great if you want to accelerate the progress of your entrepreneurial ideas, you feel a bit stuck or don’t know where to start.

In this class, we’ll discuss coaching questions that will help you reflect and come to YOUR answers, the answers that are right for you and your project. I’ll also discuss some examples that might inspire you to take action. Finally, the downloadable workbook will help you center your activities, your priorities and give you a guide to get to the development insights you need.

In this course we will use the Playground for Entrepreneurs, an easy-to-follow method that will help you develop your entrepreneurial idea whilst having fun on the way. The Playground consists of 4 essential areas that you need to address as an entrepreneur: the Heart (your passion about your idea, conforming your team and your professional network) the Ear (listening to your customers and industry experts) the Eye (customer and competitor observations) and the Hand (market experiments and prototyping). In the downloadable workbook we will find the questions and activities that are most important for you in each area.

The project for this class is to complete the downloadable workbook alongside the videos.

Rather than a one-time exercise, the value of these topics and questions are in a periodical reflection on your process as an entrepreneurs and the progress of your project, therefore, I would strongly recommend you to revisit the videos from time to time.

I’m so excited for you to join me!

You can download the workbook from the Resources tab or download it directly here

Meet Your Teacher

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Inge De Dreu

Playground for Entrepreneurs

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Transcripts

1. Introduction to the Super Kickstart Crashcourse: Hi and welcome to the playground for intrapreneurs, and welcome to the exciting world of entrepreneurship where you actually get to build the business of your dreams and have fun while doing it, and learning about entrepreneurship and building your business in a solid way, in a stable way that will help you grow your business a lot. Now, if you're feeling stuck, if you feel you need to accelerate a lot more, or maybe you just don't know where to start which new project idea. And this is the right course for you through the workbook, it will help you create a glide for the progress of your initiative. And it helps you to address all the questions, all the topics that you need to address as an entrepreneur. Now these questions and topics are used a lot in my own coaching sessions as well. There are really the base of what you need to know, what you need to do as an entrepreneur in order to get to the right insights, to get to a successful project in the market and for yourself as a passionate individual and entrepreneur. So it really helps to deepen our conversation to get to the right insights to do all that you need to do in order to get something successful out there. Now, in this course, as I mentioned, we're going to have a workbook. And this workbook is really going to help you to ground the questions in the topics, to apply them to your own case, and to really create a guide for progress. And that's what's really going to help you to get through this course. And also of course, the examples that I'm going to use are going to help you a lot to really seek inspiration and really work on what you need to do as an entrepreneur and to get to your next steps and to get to success in the market that you're going to address. Now please note that this is no quick fix. So this is not a course that promises you to make millions of dollars within the next three months or something like that. This is a course that will give you the tools that will help you build your business, but you have to do to work, you have to show up, you have to commit, you have to reflect, get a ride learnings from it. And that will help you to really build your business and really make it more innovative and more viable on the long-term. So the playground for entrepreneurs, as you can see, this is a very accessible model. It's based on body parts, on the sensors. It is about feeling the heart. So it is about the passion that you feel and human relations that are the basis of your business and your organization. About listening. So the ear, it is about listening to customers, about listening to experts in the market that might have opinions that are important and ideas that are important for your business. There is about seeing so the eyes, so you have to observe your customer and you also have to see what your competitors are doing in the market and to really differentiate from them. It is also about a hand, so experimenting and doing something. So it's about creating prototypes. Also market experiments that will help you sell your first products. Now, in the end, it all comes together in the center of this model, which is the brain. And the brain is about product market fit. So it's really about what am I going to do, for whom am I doing this? And why would they even want to buy my product or service? So that's really about drawing the right conclusions, the right insights from all the activities that the other parts are proposing to you. And then getting the right learnings and formulating your business model in a unique way and in a viable way. Now this course will give you a lot of questions, basically, a lot of coaching questions. So these will help you reflect upon what you're doing and how this is going to contribute to the business that you're building. So use them to reflect. Use him to get the right lessons out of your activities and your things that you're doing in order to build your business and to help you shape your business, shape your business model and get it more viable and more innovative. So it's basically these questions are not about the right answers to these questions are about your answer. It's about your answer to these questions. And it might be different for everybody. So these are just in order to reflect and to really have a conversation with yourself or with somebody else. Maybe you have a mentor or a coach or somebody. You'd just like to talk to you about these kind of things. And these questions will help you deepen out the subjects that you really need as an entrepreneur. Also, in this course, there's going to be a lot of examples. So basically what we're going to do is we're going to focus on an area. I'm going to give like a general explanation that I will give you an example and then we will deepen how to questions and also have an explanation with these questions. So who am I to take it from? My name is England a day. I really believe in entrepreneurial people. I really believe in entrepreneurs, and I also really believe in playing and experimentation in order to make things happen. So play and experimentation and the sense of fun will in the end make you more persistent and also make you enjoy the process more. And therefore you can get to better results because you enjoy the process and new experiments a lot more. And that's what makes a good entrepreneur from my perspective. So a little bit about my background. I'm a, an entrepreneurship coach and mentor. I've been mentoring over 500 teams and impacted over thousands with bookshops or otherwise. I specialize in early phase startups. So the very first phase, the very first customer development, just to go talk to the customer and find a business model and experimental lot with it. I've been living in Colombia for over 11 years and now recently I've returned to the Netherlands, which is Orin, originally my home country. I'm a university teacher also in entrepreneurship and innovation. As a background, I have an education in management actually. So in this course, I really hope to impact you as well on entrepreneurship and on having fun with these activities that will help you become a better and healthier and happier entrepreneur. 2. Introduction to the Playground for Entrepreneurs and to Entrepreneurship: So first let's talk a bit more about intrepreneurship and the definition of entrepreneurship. Entrepreneurship is really about the first phase. So you start out, you have your initial idea, and then you have a process that will lead you towards implementation of your business model. Now, this path is very important and it's very important that it's flexible as well. So you set a fixed goal, your ambition as an entrepreneur and your goal for your company and business model that's going to be implemented. But the road that you are taking towards that goal needs to be flexible because you need to do a lot of experiments and get a lot of insights in order to get to more innovation and a more viable business model. So your initial idea is never going to be the same as your finally implemented idea. And there's a lot of experiments and a lot of insights that changes your idea along the way and it enriches it so it becomes more valuable along the way. Now, how do you get to the right insights? Well, it's an art. So you have a lot of activities. You get a lot of results from your interviews, from your contact with your customer, from experts, for example, you get a lot of results. Now, it's your task as an entrepreneur to get to the right insights, to get to derive conclusions that you take from these results. So that's what we're going to talk about in this course. First, how to get to results and then also how to get to the right insights. Now, a question that very often occurs is, do you need a coach or a mentor and Entrepreneur? Of course, a coach or mentor can add a lot of value. Actually, the playground for entrepreneurs was made to make this process better and easier and a lot more accessible for people who might not have access to a culture or a mentor that easily. But still a coach or mentor or somebody you can just stop to once in a while and reflect about how the building of your company is going. That's going to add a lot of value. So if you have the chance to get a coach or mentor, if you have a chance to talk about somebody who's probably has been through this process already and can give you some advice or can help you reflect, or can help you get to derive conclusions on the right insight. Insights is going to be very valuable. Now, who is actually an entrepreneur? Now, entrepreneurs come in all shapes and sizes. So maybe you have an idea which wants to turn into a business for your own account. Maybe it's based on your personal passion, or maybe it's based on an interesting opportunity that you're seeing in the market. But you also might working in a company and get the task to develop a new product line and put it into the market, or to open in new geographical market or something like that. You might be working in a government institution and have an initiative in order to attend to people better as a government institution, you might be a social entrepreneur as well, starting in now, non-profit or not-for-profits. These are all initiatives that fall within the entrepreneurial area. And that you can apply these techniques to because it will really help you to build a sustainable, viable, and innovative a business organization upon the basis that you have. Now, something else too, that's important to talk about is ambition. Are you ambitious? Or is this something that you do out of necessity because you need to make a living, for example. Now, it's very important to define how ambitious Ru, about what you're about to do, what, what's your business idea is. So do you really want it to grow faster? You wanted to grow exponentially? Or is this something that's tomorrow or maybe next month? You need to get an income from an actually have a sustainable income in order to be able to provide for yourself and your family. So that really defines the business choices that you're going to have to make. So it's important to be conscious about it. Now, in this course we're going to talk about a lot of coaching subjects, things that will make you reflect in order to get to the next step of your business, to really build your business. And as I mentioned, it's important to get your answer, not the right answer, but you're right answer. So answers might be. Personal and different for everybody, There's not necessarily a right or a wrong, but it really depends on how you make your choices. And the important thing is to be coherent. So if your motivation is to make a living, then your choices are going to be very different from somebody who really wants to setup a fast-growing startup and really wants to conquer the world with this startup, with this, this new innovative idea. So your choices are going to be different and your answers are going to be different. Be sure to be conscious about it and be sure to be coherent, which your ambition and your goals. So first let's take a good look at the playground as such. So very often, we start at the left, we start at the heart part. And that's where very many ideas come from because people really want to start a business that come from their hearts that they feel passionate about, that they find interesting. That's maybe has been part of their personal expertise for a long time. And that's very often where, where it comes from. So the heart is really about how am I going to feel passionate and motivated and how am I going to keep myself going when things get hard? What's my gasoline actually, what's going to make me go and do this? And it's very important to be conscious about it. And it's also about your network, the team that you're building, because you're building a team, getting people together. Probably you can't do everything yourself, so you need other people to help you out with some skills that you don't have. And you also need to build your network, your organization, and also extending outwards to your professional network. So how are you going to make this happen in terms of human relations? Now, afterwards we go towards the ER and IR is about listening. So you need to listen to your customers. And customers very often are very aware problems that they have of their frustrations and what makes them wake up in the middle of the night with a headache. But they're not really conscious about what to do about it or how could it be resolved ness your task as an entrepreneur. So listening to your customers is really about being aware of their problems and then drawing your own conclusions, your own insights, and resolving something for them. And it's very often based on a problem in their mind or desire, a very profound desire. Now, in the area of the ear, It's also important to talk to experts. So people who might be working in this sector industry for years who have a lot of experience, who have seen a lot of developments in this industry are very important to talk to because he might offer different perspectives, different lessons learned. And that's really helpful as an entrepreneur. So whenever you get a chance to talk to experts in your industry, that's really an important thing to do. Now. After that, we go to the eye. So it's very important to observe your customers. So if you're selling a problem, if your product is a solution for people who are walking in the rain and the street in a ring. Then go to a place where they sell umbrellas, watch what's happening as soon as it starts raining. So you really want to be there where your problem occurs, where the situation of your customer, where they would use your product. If that occurs, you really want to be there to see it and how people actually resolve that problem. So go out, do observations and really get some insights from that. And also from the aspect of body language are not only what people are saying, but also what emotion you're experiencing. And sometimes that's easier to interpret by means of body language. Now, the eye is also about competitors. So really be aware of your competitors in the market and who else is offering a solution for the problem that you're resolving. So maybe you're not offering umbrellas, but you might be offering a solution for, for people who are walking in the rain, you're competing with umbrellas. So really be aware of who else is resolving the problem that you are resolving. Now there's always a lot of entrepreneurs who say, well, my product is so innovative and so different that it doesn't have competition in the market. Now that is of course, a lie because there's always products or solutions that resolved the same problem. And if there is none, then you should really be worried about the market being available actually. So if there is actually a market and somebody willing to pay for the solution that you're offering. So that's, that's worse, not having competition. Now. Of course there's competition, but you should be differentiating from that. Now, afterward, after that, we go to the area of the hand. So the hand is really about experimentation. So how to do market experiments? Try to sell your first products, try to form your tribe, tried to get following and try to get traction in the market. And then from there you can really take your business off. So starting to do a pilot or a beta version or something like that. That's a market experiment and also making your prototype. So this is really about doing things and taking action and interacting with your customer and with the people involved in that way trying to get your business going. Now, after that, I'll go to the middle. Actually, middle is kind of the part. It's all always in connection with all the other areas because, because you get your insights and from your insight, you develop your business model. So the center is really about what are you doing? What are you offering? To whom are you offering this and why would they want to buy your product? So every insight ever result, every conclusion goes into the middle and adjusts your value proposition, your business model, and you get to develop your business based on these insights and nice lessons learned. 3. The Heart Area: Let's start with the heart area, and this is really where it starts for most entrepreneurs. So this is really about a passion or a motivation, something that you really want to build into a business, something that comes from within you or that touches you emotionally. This is going to be what gets you going, but it's also going to be what keeps you going. So when things get rough, when you really go through a process with a lot of obstacles and things might not work out as you were hoping that they would work out. This is going to be what keeps you going and keeps your motivation up. This is going to be your gasoline for the rest of the process. So it's important to be clear about your passion, to be very explicit about your passion and why you're doing this. Because that will make it a lot easier for you afterwards in order to keep going until you reach your goals. Now, something else that will help you keep going is your team. So your team ideally consist of people who have similar interests and similar ambitions, but complimentary skills. So you might think about technical skills. So maybe you're good at marketing and you need somebody who's good at developing a product or programming or something like that. But also energetically. So when you get down because of a failure that you find in a market or something that's not working out as you would hope. It would be somebody who really motivates you and big issue up and keeps the initiative such going. So you can have a stable process and be persistent about your initiative. So it's really that human connection that really counts. Now, let's start with an example. And this is an example that I'm going to use in all of the subsequent areas. So you can really follow through on what happened with this initiative and you can really get an idea, just an image of what has happened and how this playground can be of use. Now, this was an initiative. This was actually one of the first initiatives I was coaching. And these were a couple of guys and he wanted to provide a beauty salon services to people's homes. Now, they were leaving. We were living in Bogota at the time, so they would provide beauty salon services and they pinned it down to manicure services at first, to people's homes, into women's houses to provide this service to them. So initially they thought this was about women who had a certain status, who had certain economic resources and they would be able to pay for this service because it was going to be a service that they would send the manuscripts to people's homes. That would take quite a long time. But without trophic is really busy. So it could take a long time for them to get there, to get the service, to get their nails done, and then that would be the service they were providing. So these guys were not really this word to male entrepreneurs. They were not really into beauty services, but they really had a deep appreciation for women and for women's beauty. So that's where what they tapped into their interests in beauty and women as such. And afterwards they involved an expert, somebody who really was into beauty services for women and who was a woman. Also, that they evolved into their team in order to get more knowledge and more expertise and to really get technical knowledge into their company, into, into their projects. So now let's get into the question. So how could you explore the area of the heart for yourself or your initiative? And how could you really deepen out this, this area in order to benefit from these coaching questions. Now, first it's about awareness of customer needs. So are you a part of the customer segment yourself or how do you get to know what these people are going to? So in my example, the guys that were starting a manicure service, people's homes. Well, this was not a segment that there were actually part of. That's why afterwards they involve somebody who was part of the customer segments into their, into their company. And that's really what you should think about as an entrepreneur as well. How do you constantly become aware of what these people are going through and what is how this problem actually works for them if they're even experiencing a problem. What about your activities and routines and how they are focused on the progress of your project. So as an entrepreneur. Sometimes you can get lost. So sometimes you're doing a lot of things and you're not really seeing results, are not contributing directly to the results that your project needs. So being reflective about what you're doing, what you're spending your time and your energy on, and how you can make this more productive in order to get more progress for your company. So what does your company need in order to progress? Now? For example, an entrepreneur once told me that first you have an idea and then the idea has you. So first you have the idea, so you're creating the idea and then it gets a life of their own. So this project is functioning and you need to do all sorts of things to contribute to this project. And it might not be completely yours anymore. Maybe more people are involved into these projects. But you need to make sure that everything you're doing is contributing to the progress of your project. So think about how this is going to work out is, is this is contributing to your project and watch your project needs in order to progress. So what was your next tasks need to be? Also think about what's your personal ideal circumstance to start a project. So maybe this is something that you can work on a personal ideal circumstance. So for example, you have a fixed income or you have a passive income or something like that that allows you not to worry about the finances. And you can be, you can go into your project in a more relaxed way because you don't need to provide economically yet. But also what happens if this is a circumstance that you can't really create? But it's just there then how do you deal with it? If this is not ideal, how can you get it going anyway? So think about your personal circumstances and how you want to deal with this situation in a proactive way, not in a reactive way. What do you lack that you can resolve by including other specific people in your team? So as I mentioned, similar ambitions and similar interests, but complimentary skills, but I'm also energetically so when you are feeling depressed, who's going to keep you up? So no yourself energetically, maybe you have peaks of energy and maybe somebody else can be more stable about it. So think about it, be reflective on it, and try to help us try to find people who will help you avoid your own pitfalls. Now the last one is about shared interests and complimentary skills, which we already mentioned. So how can other people compliment your, your skill? Now there is not a couple of questions, so identify your next step. So it's always important to think about what's going to be next. What, what else do I need to do in order to progress with my project? What's the next unavoidable thing? Now, as an entrepreneur, you might not like everything that you need to do in order to progress with your projects. But still there are some, there's going to be some unavoidable things and it's better to get it over with right away. So no no postponing. Just get it over with and identify those things that you really unavoidably need to do in order to spend less energy on them, do them right away and get it over with. Also think about, what would you do with seed capital? What's your priority? What, what would be the first thing, the most important thing for you to invest in? And why is it more important than anything else? Think about your online organization. What should it look like? How does it compliments your offline organization? And what's your priority in this? What should look like? Now, it's also about networking and partnerships. So who do you need in your network and how can you get the right connections in order to make that happen? And in order to create partnerships that you need to create. Visualize, visualization can be a very fruitful experience. What success in the marketplace would look like. So be very explicit and very specific about your ambitions. What's the point that you want to get to? And how would it look and feel like, and what do you need to do in order to get there? So the visualization can be like a Daydream, which is fine. What does it feel like to be successful? But also think about all the sacrifices that you need to make and all the things that you need to do. Also the unpleasant things in order to get there. And really visualize how you could go through that in order to get to success. 4. The Ear Area : So now let's continue with the air. And air is about listening to customers, listening to industry experts. And this is really essential because this is where a lot of entrepreneurs go wrong. And that's why the market side of your, of your business, your business model is really essential for the future, for the sustainability of your initiative. For example, if we take a look at digital entrepreneurship, the App Store, six out of seven applications do not get downloaded even once. And then a lot of applications are erased from a phone less than 72 hours after the download as well, the ones that do get download it. And that means that there's a lot of lack of understanding of what the customer actually needs and how a problem, their problem can be resolved. So it's essential to listen to your customers, to listen to their frustrations, what this problem is really about, and then go a bit deeper into that and really get your own solutions, your own conclusions from that information, and find out about your own solutions and the product that you're going to offer. So that's what the ear tells us. So now let's get back to our example of these guys wanted to start a manicure service in Bogata. So they went out and they went to interview their proposed customer segment. So they went out to find women of higher social status who would be stay at home moms or stay at home wives? Who would receive a service like this. They're dirty needles on every week. So they went out, they found these women and they were interviewing them. And they found out that actually for these women, going out every week to a beauty salon is something they really enjoy doing. So they go out to their beauty salon, they have their nails done, they have their hair done. They have all sorts of services in this beauty salon. They watch TV there, they chat to the professionals providing the services. They would really have a good time and they wouldn't be in a hurry. They would take their time enjoying their services at the beauty salon. They were not willing to pay extra, and they were not willing to give up their plan of going out to the beauty salon and having fun with the people they knew and they were not willing to give up that relationship with the beauty salon and with the professionals in it. So actually, through this area, interviewing these people, they found out that their plan providing a service at home was not going to work because these women that were proposed market segments was not willing to pay for extra for the service and was not willing to stay at home just for the service. So now let's take a look at a couple of questions that really will help you stretch up. You're thinking about listening to your customer segments. And maybe it's not exactly, I'm interviewing your market segment, but we'll stretch up your perspectives and we'll give you inspiration in order to advance your idea into gets more innovative and more viable solutions. So for example, what can you learn from people with a completely different perspective, somebody who really thinks in a different way. So you can think about rich people or poor people are just very different perspective people than your proposed market segment. And you might be able to just find opportunities there as well. Or different and innovative solutions that might help you shape your products. Think about your own ideas versus your customers ideas. How do you keep a balance between your own passion and your own experience compared to what your customers are saying. Now, keep in mind that your customers will, in the end, not give you the solution. They are very good usually at talking about their problems and their frustrations. But they're not very good at giving you solutions. So that's your own conclusion that you need to, you need to get to and also your own solution that you are going to offer them. Think about questions to ask. So what kind of questions will give you the insights that you need? And that's what you're going to ask your, your customers or the expert searcher interviewing which events are used useful to learn more about your idea or your market. So think about events, maybe, maybe annual fairs or something like that. That might help you to learn more about your ideas where you can find a lot of potential customers, where you can find a lot of industry information that will help you shape your ideas and get to a different perspective about what your customers are trying to do. Think about true and doozy ASM. So what does a customer and enthusiastic customer look like? What kind of excitement are you expecting to see? Are you expecting them to say certain words to express their enthusiasm or to open their eyes just to show that they're really excited about their product, or are you expecting them to take certain actions or to engaging in something? What are you expecting to enthusiast them to look like? Think about insight, so how to get them? You already talking about the right questions to ask. Think about questions that do not induce certain answers, but how to get to the right information that you as an entrepreneur need in order to get to those insights. Now, also think about negative feedback. So customer feedback is not always going to be positives. Or how do you deal with critics? What kind of critics are useful and what kind of predicts? Well, you can take a look at, but then you put aside because it doesn't work for you and it's not constructive. Where is the border between constructive negative feedback and not so constructive negative feedback? And what do you pay attention to? And what do you choose not to pay attention to? So also think about positive feedback and improvement. Improvement suggestions. How can you improve your value proposition in order to use that feedback as well? How do you get people's attention? Think about your pitch. How do you, what kind of words do you need to use? And that's also a test that you can do. Think or ask your prospective customers what kind of valued are expecting from your project, from your product in order to refine your pitch and use the same words that they are actually using when they're describing what they're looking for. Also think about why people wouldn't buy your product. So what customers do you actually choose to attend with customers? Bring you value. And what customers do you just put aside and you just don't pay attention to at this moment because they don't provide the value that you're looking for, for your product, for your project. Think about your communication channels. So how can you make the most of your communication channels? How do people find out that your product exists? And how do you get people to actually buy the famous funnels? Think about critical mouse. So what's a critical mass to you? What's enough customers in order to get your project going? And what's not enough. So what did you choose to? What kind of market? How big is the market that you're choosing to attend? 5. The Eye Area: So now let's continue with the I and II is really about observing your customers. So this is one step further and actually talking to your customer. This is observing and also observing their body language when they are at a situation that they would use your product or service. And this is also about observing your competition. So the other companies who are providing something that resolves the same problem or the same desire that your product resolves. I'm looking at what they're doing in the market and actually differentiating your project, your product or service from what they are doing. So what makes you better or what makes you different than these competitors? Now let's go back to our example of these guys starting there many curse service in Bogota. So after finding out that their proposed market segment wasn't actually interested in what they were doing. They were doing some observations as well. They went to beauty salons just to see what was happening there. And it was to kind of beauty salon. So one kind of beauty salon was in a residential area and nothing really interesting happened there. But there would be an other segment of beauty salons which was actually in office areas. So what would happen there is that beauty. Someone would open FAB nine in the morning or ten in the morning. There wouldn't really be much going on until 12 in the afternoon. And that was the moment where a lot of professional women who were working in the area, in the offices would come out at lunchtime. They would have a very tight schedules. So they would there were working all morning and then they would have from 12 until Tuesday afternoon to have lunch and to do whatever was necessary, and then they would go back to work. So within this time frame, a lot of women came in in the beauty salons who have their nails done. Actually, these women would be in a hurry. They would be watching, they're taking a look at their watch. There wouldn't really be engaging in any conversation with the professionals doing the Neil service. They wouldn't really be doing watching television or anything else in the purity salaam. They would be quite stressed about having their nails done and also being able to have lunch before getting back to work at 2 and looking good when they were actually getting back to the office or two as well. So these were women that were really in a, in a time pressure and really didn't care about the environment of the beauty salon. And these were women who were actually perfectly willing to pay a little bit more for having the service at their office and not at a beauty salon and not having to worry about their lunch and whether they would be able to have a bite as well. So doing this observation, it was a very important conclusion. And it also provided another insight, just getting to the inside, It's already. And that is if you go to an office, there is not one woman who needs the service. There is a lot of women, women who need the same service and who have the same worry and who are willing to pay a little bit more to get their nails done while they are working at the office. So now let's continue with the topics and the questions concerning the eye area. So the first is competition. So competent competitors substitute. Thinking also about substitutes who, that might be really low technology, for example, if you are planning to do an application to do some administration or registration for something and people might still be taking notes in notebooks or something like that. That's also a substitute. So it's also something that somebody in the same situation as your prospective customer is doing in order to resolve their problem. And therefore, it's a substitute. Really tried to stretch up. You're thinking about competitors to take a look at national, international, high-profile, low price profile competitors. And that will really first inspire you with new ideas about what's going on in the markets and how to take the best practices and also help you differentiate yourself from these competitors in the market, and that will make a difference in your success with your projects. No, competition is often a red flag. So do think about competition as broad as you can possibly think about it to take into account all these. Competitors and to really know what's going on in this, in this market. It's also about brand image. So what do you want your project to look like? What's your brand image? And sometimes it helps also to think about a different industry and what kind of image would you like your project to have? Also think about how real is this problem in how are your customers currently resolving it? What are they already doing to resolve it? So if customers are really taking a lot of action in order to resolve this problem, the moment that you offer a better solution, they will come to you. So think about this, think about this kind of competition as well. Think about your brand image. So what kind of image? How would you like your customers to perceive your brand? And what predict compared to think about metaphors as well. You want to be the Mercedes Benz of the X industry, something like that. Thinking about other brands who kind of have a brand image that you would like to have in your industry really helps to shape the image. Do detailed and intense observation of your customers, get the right insights from that and also visualize that experience with and without your product. So what does this customer experience look like before your launch, launching your product? And what does it look like as soon as the customer is using your product and how is it different without judging, just objectively, take a look at the customer's experience and how it's going to be different through your product. Just a couple of more questions. So how does a customer perceive you? How do you want them to perceive you? And what's the difference between the two and how can you really bridge this gap, this difference? Turn your product into a niche product or mass-market product. How does it change? So really stretch up, you're thinking about your market and how your product is going to act in this market. Think about how you can become top of mind for your customers. So how can you really become present in the customer's name? How can you, for example, become a household name? Think about how you compete in the market, what kind of strategy your competition is based on, and what happens if they copy you? And how do you act upon these kind of strategy from your competitor? How do you react or be proactive about it? Also clarify your pitch in a way that even a 10-year-old would understand why this is a good idea. That's always a good exercise to get your words, your bitch, very clear and to be able to really explain it to a lot of different people who also might think very differently than you do. 6. The Hand Area: So now the area of the hand and the area of the hand is really about one side prototyping. So making a prototype of your product or service and getting it out there. And also market experiments in order to prove that you're able to sell. This actually adds a value for people. So to start, either a beta version or a market experiments or a pilot, or just selling some products, getting your product out there to get real interaction with your customers and to get them to actually pay for it or use it. Now let's get back to our example, our manicure entrepreneurs. One of the experiments that they actually did was organize events for women to get their nails done in order to get these people together, to get the people who were really motivated and passionate about having nails done and also art on their nails and betas on their needles. They would get these people together and just have a lot of interaction between them. And that's really helped them get more insight into what these people valued. So they would organize parties in which they would combine like a happy environment with Champaign, with actually painting kneels. And therefore they would get a lot of insights into what their servers would need to be like and how women were going about painting their nails. Were really interested in a fashionable way of painting their nails. Now let's get to a couple of questions and topics to think about who really reflect about in this area of the head and doing experiments. So one thing you can do is to ask your prospective customer segments to explain your service or your product in their own words. And that will really help you shape your pitch. But also really, really gives you a lot of insight into what they're expecting from your product and how you could add more value for them. Think about how much time and money you have available and how you can make most out of it. So what is your priority to invest in? Think about your prototype. So how can you prototype your product or service in different ways and kind of progress through these prototypes into more advanced kind of prototype every time. How does it change? And can you adapt it to different segments? Would it look different if you would adapt it to different segments? So that's where you really stretch up kind of the value that you're trying to bring with your prototype. Think about how to gain a lot of traction. How can you get a lot of attention from your potential customers? Think about your early victory. So what would you like to achieve very early on? And how can you really let this victory is motivate you. So what are you next? Three steps that you need to take? It really helps to think in three steps and to really break things down into small steps in order to keep motivated and to keep going with your project. How can you get your first customer, even if it's only one, who would be willing to pay for your product. And where can you find these people? How can you make most out of customer referrals and recommendations? So who are your biggest fans? It, how can you use this enthusiasm to get two more people to really get things going in to get the traction that you need in the market through your first fans. What kind of guerrilla marketing actions can you take advantage of? So low budget, very low budget? And how can you get the first attention that you need in order to get kind of a snowball effect. What kind of customers give you the most value and which ones do not provide you with enough value. So this is really about rearranging the market segment that you're active in. And how can you separate the high-value customers from the low value customers? Who do you choose to attend to? What did you let them go? Let them go towards your competition, or you decide to attend them anyway. And to kind of choose a different business model, forties low value customers. It's very important to be conscious about this. What can you do about customer loyalty? How do you do? How do you get very loyal customers in order to make them come back again and again, and how can you kind of keep them loyal to your company? What can you do in order to make this happen? 7. The Brain Area: So all these four areas can really help you stretch up your thinking and really give you new inspiration in order to get to a viable and innovative business model. And all these kind of actions and all these reflections can lead to insight. Now it's time to get to the right insights, right conclusions, and also incorporate these insights into your business model starting with your value proposition. So the brain is really about what are you doing, for whom are you doing this? And why would they want to buy your products? So it's about product market fit, what we call product-market fit. It's about a benefit that your customer expects. Also having, being really clear about who this customer is, and then also how you're going to be different than anybody else, your, your competition. So this area is really about insights. So your conclusions and interpretation of the results. So try to differentiate in order to get to the right development insights. Try to differentiate very much between what your customer says And what's your conclusion about that is actually what the influence would be on your business model. So one thing is your results of your investigation, of your experiment, of your interviews. And something else is what conclusion you draw from that. Now, a couple of comments on getting these insights and doing your investigation surrounded in a different areas. Please remember that you need more than one person, more than one observation, more than one comment. In order to really change your business model, you cannot base your business model on the opinion of only one person. Not even if that's the person who's going to be your only customer. Unique more opinions. You need to have a sustainable business model, and that's going to depend on more people than one. So please do find something, a number of interviews or experiments or reactions that's representative. And it will really give you insight into how this market is working. Next is that the inside should be actionable. So please make sure that you get first the results. So what people say and the observations that you do and things like that, then you get to your conclusions of that, and then you get to change your business model accordingly. So your conclusions should be leading to a change of business model, a change in your value proposition, or the relation that you have with your customers. And that's what's really makes it valuable. So make sure that the insights are within your circle of influence so you can really make an impact and a difference that way. Now getting to the right insights is of course, not only about if something works, but also about how something works. So investigate, look for a depth in your investigation and in your activities and in the information you extract from it in, into your results. So it's really about how things work and how you're going to play a part in your processes, in your customer's process. So your customer is trying to resolve something or trying to do some something. You're going to take a part of it, you're going to play a role in that process. Now, this is really about how this is going to take place. 8. Example: Undertrail: Now let's talk about another example, and this is about undertrade.com. I've been mentoring these guys and they started out as a backpacking company, company addressing the market of tourism and particularly backpacking. And then afterwards, they changed their business model. They were really quite successful, and after that they sold out to another company. So you probably won't be able to find them under the name of undertrade anymore. But the process was very interesting in That's what we're going to talk about. Now, two of the founders were actually really passionate about backpacking, Miller Columbia, whereas most of the backpackers were foreigners and in South America, this was before corona time. And they found out that actually a lot of backpackers take the bus, whereas sometimes it's just as cheap to get a plane ticket and you get they're spending a lot less time in the trip itself. So maybe in busted would take you 30 hours to get somewhere. Whereas on a plane it will take you about one hour and you would pay a very similar price. So what they were planning to do was to create a platform that would compare bus trips with plane tickets and then compare the price and also the time it would take to travel. Now they had been traveling quite a lot as backpackers themselves. So they would already have some experience in this market. But they would go to hostels to talk to the receptionist, to talk to the backpackers there to do some observations. And really quite soon we found out was that it was very easy to do some experiments as well. First, the world of backpackers is very closed. They talk a lot amongst each other. They do a lot of references and recommendations about where to go and what to do and exciting new things to do. And the only people outside of the backpackers community that they trust are the receptionist or the people that are attending the hostels usually. Now, of course, this has a reason, this is for security, usually not to believe too much what local people are offering, but in this case it was just a really good deal for them. So we started as soon as possible to get some actual sales, going to sell some bus tickets, to sell some plane tickets, and to really find out what this was really all about to get also word of mouth going. So in this experiment, they sold a couple of those bus tickets, an airplane tickets. And they actually, the founders actually went to deliver these tickets directly to the backpackers in their hostels and took advantage of the opportunity to really interview them about this difference between bus tickets and airplane tickets, and how the backpackers would find the tickets that they would use and how to do it better for them, how to provide this service. Backpackers first really appreciated the fact that the founders would go in the liver their tickets and it will really open about how they would get their tickets and also about recommendations. So that really helped us to get a start with the backpacker community. To really do the right interviews, to do the right observations. And also get a foot in the door with the receptionist and the hostels as well so that the receptionist would have I'm neutral.com on the top of her mind and therefore recommended to more backpackers. Now please do notice how it's always a balance between the different areas. So the heart area, the bashing area, he interesting idea area is usually the start of a project. And after that, you can just play with the different areas and use which ever is useful for you at the moment to progress your initiatives. So for most of the projects it would be like the ear area. So to do customer interviews, to really talk to people, to do observations. But in the case of unknown trail was really also benefit to go to the hand area in to do a market experimental right away because it would get us more insight and also more open doors into the world of backpackers. And therefore things would be progressing a lot more and a lot faster. So always check out of balance and find your priorities for your particular project. 9. Wrap Up: Now let's do a quick wrap-up of this course. So you've been going through all these exercises, all these questions, and you've been hopefully using the workbook. And that's really the key because you don't need to address all the questions, all the topics right away, but you need to make some decisions about which one's, which questions to address in a workbook really helps, helps you to create a guide for your project in this sense. So find the right activities at the right time and use the workbook in order to do this that, so there's checklists and there's ways of getting to the right insights. Use these techniques and write it down for yourself and revisit this every once in a while because you will have your guide of progress for your initiative already there. So that's really going to help you to make this progress and get things out there. Don't wait for perfection on the action can give you the right insights. So that's really the difference between all these Agile and Lean methodologies, which are really about doing things in kind of learning along the way and getting things better and writing a business plan. Because usually when you write a business plan, for example, you're investigating, you're writing, and it's going to take a long time and it's a process. And you're going to spend months. And then you get to your first customer and then everything changes. So don't wait for that perfection. Don't wait for all the details to come in. But go out there. Take action used workbook in order to find the right activities for you. And that's what really will help you to create progress and then get to perfection over time. And also of course, have fun and be excited but excited about your progress. So celebrate, celebrate your progress along the way. And that's an essential part of your success because that will make you persist and be happier on the way. So being unhappier individual and it will help you make your customers happy as well and your employees when you are going to have them. So have fun on the way and enjoy yourself with these exercises in with these questions. So that's what it's all about, being curious and about experimenting. So please leave a review if you think it's appropriate. And you can find me at playground for entrepreneurs.com. So there is a lot of exciting and fun resources like videos and games that you can play it in order to progress yourself as an entrepreneur. So please do check it out and see you there.