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← Types Of Value Proposition - How to Build a Startup

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Showing Revision 6 created 05/25/2016 by Udacity Robot.

  1. There's another way to look at this types of value propositions, kind of as a Venn diagram.
  2. What comes from technical insights are making things more efficient
  3. or smaller or faster and sometimes lower cost and simpler.
  4. What comes from market insights are better distribution and bundling and branding.
  5. But sometimes what you have is this sweet spot in the middle
  6. that actually is a combination of technical and market insights
  7. that makes for a killer value proposition.
  8. So let's take a look at some examples of technical insights.
  9. This is a company called Ayasdi.
  10. That was an outgrowth of Stanford math department where Phd students said
  11. "Listen we can do a topological analysis of highly dimensional data to be analysed
  12. without predetermining the number of feature sets."
  13. That's a mouthful but it turns out that this is the world's best way to go through
  14. big data sets, huge data sets in a way that was just computationally not possible before.
  15. And in fact once they had their technical insight
  16. they started to talk to customers about pains and gains.
  17. And it was an enormously effective product to solve problems that were so painful
  18. that they just could't be approached before.
  19. Another example was a startup called Inscopix that mass produced components
  20. to create a miniaturized florescence microscope.
  21. It turns out that this technical insight allowed them to
  22. reduce the size of the device that took up the table top
  23. to that can fit now in your hand.
  24. And in fact they created an entirely new market
  25. that solved problems that customers didn't even imagine
  26. until they actually saw this new device.
  27. On the other hand there are some examples from market insight.
  28. Zynga was one of the first companies to realize that people wanted to play games
  29. online that were more involved than what is currently offered.
  30. They not only wanted to play solitaire but they actually wanted to play games
  31. that involved interaction with other people.
  32. And their big insight was Facebook as the distribution channel for those games.
  33. Twitter, another example of market insight.
  34. Masses of people are more likely to write a 140 characters
  35. than a 1000 words. Everybody was skeptical.
  36. But it turns out that it plugged into something
  37. that was both a market and a human nature insight.
  38. It solved a need.
  39. Zipcar's insight was actually kind of interesting.
  40. Instead of just renting cars on business trips
  41. it might be that people in urban areas or in college campuses no longer wanted to own cars
  42. but wanted to be able to get them with incredible flexibility
  43. a lot more than traditional rental car companies offered.
  44. And Zipcar actually had a market insight that made it a successful public company.