Cosi102

* **READING**: <a href="/content/topics/homeworks/hw_readings_102/75_hw_102_leanstartup_8/">(R) Read The Lean Startup Chapter 8</a>

*Reminder: Readings are your responsibility. You will be expected to come to class prepared, having read the material, and ready to participate in the discussion*

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## Evaluating Opportunities

* Teams please sit together
* **Post-it-note Exercise**
* Are you zeroing in on a product that the team likes?

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<h2 id="tips-for-choosing-a-product-or-service">Tips for choosing a product or service</h2>

<ul>
  <li>Does not have to be something never before seen</li>
  <li>You do need to generate evidence that people will be willing to pay for it</li>
  <li>It should employ technology of some sort</li>
  <li>Fun and cool doesn’t matter if you can’t show that people need it and are willing to pay</li>
  <li>Challenge yourself and your teammates</li>
  <li>Do a little research using your common sense!</li>
</ul>

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<h3 id="questions-to-ask-yourself">Questions to ask yourself</h3>

<ul>
  <li>How big a problem is this really solving?</li>
  <li>For who, and do you think those people would be willing to pay for it?</li>
  <li>How would you get it to them?</li>
  <li>What kind of price do you think they would be willing to pay?</li>
  <li>Are you pretty sure this can be productized?</li>
  <li>What would the Shark Tank say of it?</li>
</ul>

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## Finding a business opportunity

### Purpose

* Modeling how to conduct an out of the building MVP
* Also how to empathize with the potential user's perspectives

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<h2 id="critical-thinking-practice">Critical Thinking Practice</h2>

<ul>
  <li>You continue to practice thinking critically about new business possibilities</li>
  <li>Rehearse explaining and testing the idea orally so that it is understood</li>
  <li>Rehearse being an effective teammate even with people you just met</li>
  <li>Rehearse listening openly and giving valid and valuable feedback</li>
  <li>This will work whether you’ve decided on a product/business or still making tradeoffs</li>
</ul>

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<h3 id="activities">Activities</h3>

<ul>
  <li>Watch <a href="https://youtu.be/bsi6-QkGr0A">this video of my talking head</a> together:</li>
  <li>Discuss the video with each other</li>
  <li>Talk about your candidate ideas you see that look good and play with them from the perspective of:
    <ol>
      <li>What “job” does the product do for the customer?</li>
      <li>What domain expertise can you bring to bear?</li>
      <li>How big a pain does the product relieve?</li>
      <li>Can the product or service make money?</li>
      <li>Is there a way to reach these customers?</li>
    </ol>
  </li>
  <li>Critical thinking!</li>
</ul>

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### Activity

* Take a moment to read and digest this idea <a href="/content/topics/products/b20/">Bodega 2.0</a>
* Discuss it with your neighbor to make sure you understand it (as far as it goes)
* Come up with one or more MVPs
* What are some hypotheses that you could test with that?
* What do you think a shop owner asks themselves before adopting your product or service?
* Think about this for a little while, write some answers for yourself

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### Alignment

* This is  very important concept. I will harp on it a lot.
* Work to the point where each team member would explain the product in the same way, as the same thing
* This can only come through discussion, writing things down, being open to new ideas and flexible to adjust your ideas.
* The only thing that makes an idea "the best" or "right" is what customers, users, people are willing to adopt.
* Whether you wrote up the idea or thought up the idea or love the idea, remember the idea is 0.1% of the journey.

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### Discussions

* Review your top idea together and ensure alignment
* Review the <a href="/content/topics/homeworks/hw-inactive-102/110_hw_102_proj_stage1/">Term Project Stage 1</a>
* It will be due next week. Begin working on it.

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<h2 class="shadow p-3 bg-white rounded">Thank you. Questions?<img class="img-fluid w-100" src="https://picsum.photos/800/100.jpg" /> <small> (random Image from picsum.photos)</small></h2>