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Business Models

What checklist will lead to a Startup Strategy that explores opportunities the leverage the frontiers of Web3 innovation?

Silicon Valley Startups - NY Times

Chainlink Labs Startup

Hardest Problems

  • Finding and attracting talent
  • Upskilling resources
  • Launching

Roadmap

The aim is to provide insight into key business processes that define the product, evolve a viable business model for commercialisation and revenue generation.

The Team

ResponsibilityTeam (Names)
Product Fit Lead
Business Innovation Lead
Tech Lead
Business Admin (Data/risk/regulatory)
Legal/regulatory
Systems Analysts/Information
UX/CX
Research

Main goals for Innovation Team

  • Fast insights Discovery
  • Build things customers/market need (Test before build)
  • Have the right business model to sustain and grow. Product-market-fit
  • Use networks to speed up acquiring customers and revenue generation
  • Innovation and user experience embedded the entire time

Experts Focus Group

  • Name01 (Role @ Company)
  • Name02 (Role @ Company)
  • Name03 (Role @ Company)

Evolving a Business Model

High level plan:

  • Validate current assumptions
  • Evaluate business model
  • Identify market segments
  • Identify customer profiles
  • Model customer acquisition flow
  • Validate flow with trial customers

Broad Market Analysis

Market RealityDiscovery
Total addressable market
Consumer behavior
What does 1% market share look like

Opportunity by Sector/Industry

Sector / Industry ProfilingDiscovery
Market penetration needed to meet $?0m revenue target
Market scalability/replicability to other market segments or geographies
Establishing evaluation criteria
Assist in like-for-like comparison across industries & geographies
CategorySector OneSector Two
Future Forecast
Leading players?
Why they exist?
What direction?

Target Business Analysis

Evaluate businesses within agreed Market Opportunities

CriteriaDiscovery
Do they have existing investment (time +/or $) in blockchain
Business problem that can be solved
How equipped are they to solve this problem
Is solving this opportunity beneficial to long term growth
Establishing evaluation criteria
Assist in like-for-like comparison across businesses
Identify scalable/replicable opportunities

Gather Expert Testimonials

Gather valuable stories from People that suffer the pain of problem, have the ability to recognise solution and have the energy to champion implementing a solution.

Expert BackgroundsDiscovery
Subject Matter Expert / Super User
Technologists, implementing existing solutions
Regulatory, Compliance officer etc
Senior researchers and publishers
Sales & marketing
Business directors

Defining the Product

Aim to understand the killer feature for each customer.

Establish what customers are paying for

  • why they are using the solution
  • why the solution exists
  • what features are invaluable
  • what features are missing

Network effect opportunities: by target revenue range and industry investigate needs to back unique selling points (regulatory, country specific, etc)

Companies for Indepth Research

Identify viable companies from initial research and digging deeper

MethodToolsDiscovery
Competitor/opportunity reviewLean canvas
Competitor/opportunity reviewrevenue models, market share, growth, brand
Are they partners, clients, suppliers or competitors
Competitive opportunities — Identify USP

Engagement Strategy

Engage with businesses that meet the business opportunities criteria

  • Identify core problem/opportunity and their level of commitment to blockchain's solution
  • Customers and businesses interviews
  • Evaluate commercial benefit to both customer business and this business
  • Scope out range of opportunties and capabilities the business needs

Model Business Benefits

  • Custom business modelling
  • Custom financial modelling

Identify any legal, regulatory requirements or considerations

  • Country and city specific
  • Non-legal but association/network considerations Is FantomPay responsible or client/partner?

Resources