Hello fellows! It has been an incredible beginning of the year for me personally and especially career-wise. In this post I want to focus on defining a business idea of Ommik and my brainstorming process and share with you the first draft.
I am learning as I go and this draft will be updated later (and of course, for the purpose of confidentiality, not shared online haha).
Why am I defining a business idea in the first place? Well, Ommik is transforming into a startup, and I must make sure I follow the best practice in defining the problem Ommik will be solving. Or, in general, is there a problem to solve?
Problem statement quadrant, a 2×2 matrix, is one of the most flexible and powerful tools for driving innovative solutions and guiding strategic decision making. 4 parts of the quadrant answer the questions:
Problem statement quadrant helps to define the problem statement itself. So, here you go:
Now, next of defining a business idea: I want to create a high-level hypothesis of the problem. It is important to note, that hypothesis you create, you should have the ability to validate with different metrics.
In my hypothesis I assume many things. Now, my job is to prove every word I assume with real life metrics.
Looks pretty good. No?
Value proposition canvas is a business model tool that helps you make sure that a company’s product or service is positioned around customers’ values and needs.
We start from the right and talk about our customers’ needs. Jobs-to-be-done describes what your customer is trying to do, what annoyances they have (pains) when they do those things and what they would wish to have (gains).
Now, on the left side, we list the products and services that we will offer to our customers to help them do the things they want to do. Then we describe how our products and services will relieve their pains and create gains.
Finally, the business model canvas is a great tool to help you understand a business model in a straightforward, structured way.
Let me remind you once again, this is only a draft, and the end result will be brushed up and defined better, perhaps even differently. I just wanted to share what I have been working on lately. I am happy I managed to learn a lot about defining a business idea and learning new tools along the way to do so.