Opportunity Discovery Report.

It is a continuing and developing process of what you have done in last order attached called “already attached”, depending on the conclusion and recommendations. Please note I have attached a document called “already attached”, this document I have already submitted to the teacher and none of this work should be submit again. Also, I have submitted a file called “the Idea” you can use this file to reach the requirements for this assignment, and remember anything that I have already submitted should not submit again.

You are expecting to interview more people. This report builds further on the Value Proposition Test report and shows that the student has learned fromthe feedback. Each student must submit a detailed, partly primary evidence based, Opportunity Discovery Report in Session 12. This is a summative assessment for which you will be given a grade. The report will be an integrative study where you must provide evidence of the second (and consecutive if appropriate) learning cycle(s) in the customer discovery and validation design process of your new venture. You must test the following elements:

1.    Second or third round of testing: Problem-Solution fit: Need/Want. Value Proposition and Opportunity discovery/evaluation
2.    Second or third round of testing: Market type, size (secondary sources), segments and customer personas
3.    Competitor strategy

These three elements must show a rigorous validation process where required, using a range of tests andbuilding on the Value proposition Test report.

The following elements may be solely supported by sound analysis of the theory learned in this unit and donot need test validation at this stage (is part of the next unit: Opportunity Evaluation):

4. Technical feasibility: MVP status
5. Channels/customer relationship/Resources, Key partners and Team
6. Financials: confirmation Cost structure and Revenue stream evidence based on analysis learned inunit

The report must have the following structure based on the elements of the business model canvas: (marking rubric in Appendix B):

•Executive summary

1.    Validated by Tests: Problem-Solution fit: Need/Want: Describe and critique evidence based ontest results. Value Proposition and Opportunity discovery/evaluation: Describe and critique evidencebased on test results
2.    Validated by Tests: Market type/segments, Customer personas. Market type, segments (PTA,STA), compelling need to buy, customer accessibility and structure of relationships to `get, grow andkeep` customers, Customer Channels. Describe and critique evidence based on test results
3.    Validated by tests: Competitor strategy: Competitor: direct, indirect comparison, competitivestrategy and evidence of testing competitive strategy. Describe and critique evidence based oncompetitor analysis (Blue Ocean methodology) learned in unit and present results of testing of yourproposed competitive strategy with right personas.
4.    Analysis based: Technical feasibility (MVP status), Key partners and team: Describe andcritique evidence based on theory learned in unit
5.    Analysis based: Financials: cash flow, cost structure, revenue stream, profitability and Break-Evenbased on analysis learned in unit
6.    Conclusion business model confirmation/alternatives: what to do next? Describe and critique.
7.    KOLB Reflection: Finish with maximum half a page of personal reflection based on Kolb (seeattachment)

The main body of the document will be no more than 1500-1800 words long, plus appendices with crucialevidence of tools used during the semester, but you don’t need to include the appendix items from the testreport which was due in session 7.

You may use canvases, test/learning cards, interview tables or show theevidence of your tests in other ways if you wish, as long as the evidence shows that you master the testingprocess. Opportunity evaluation should always be part of your iterate/pivot considerations. Please note thatthe opportunity discovery report is to follow formal business report outlines (refer unit outline and onblackboard), and is to read as one document (not merely a copy/paste document). Ensure all topics in the
marking guide (appendix B of this document) are addressed, and if not, advise why not?

Appendix B: Opportunity discovery report and marking rubric
Chapters    %    Poor    Strong
Executive summary    20    Summary not a conclusion, not concise, irrelevant information. Unconvincing evidence leading to poor design of the opportunity. No evidence of the use of creativity and design thinking.    Starts with strong hook, which entices me to read on. Great concise conclusion full of convincing evidence. Student shows great evidence of understanding of customer discovery and validation process.
1. Problem solution fit: Value
Propositions and Opportunity Evaluation.
Describe and critique evidence based on
test results    15    Poor testing leads to lack of evidence that customers are
passionate about long-term product vision. Poor show of
development of Value Proposition and opportunity evaluation
since the Test Report, which was due earlier in the semester.    Evidence of Customer Validation interviews and other tests/tools strongly validate the Value Proposition components and strength/size of the Opportunity.
2. Market type, segments (PTA, STA),
compelling need to buy, customer
accessibility and structure of
relationships to `get, grow and keep`
customers, Customer Channels.
Describe and critique evidence based on
test results    15    Little evidence of thorough testing of the Customer Segments
(customer mapping/personas), customer behaviour/purchase
influences and associated costs. Market Type/segments
hypothesis poorly tested. Strategic and cost/revenue impacts of the Market Type selection are not factored in where appropriate. No analytical evidence that student understands the food chain, its responsibilities and costs. Not all important indirect channel costs such as sales reps or promotional fees are considered.    Customer needs/wants are active/urgent and are likely to drive forecasted revenues. The product improves a “day in
the life” of the selected personas. Evidence of interest from early adopters and initial sales strategy for early majority
mentioned (does not need to be proven yet). Overwhelming evidence that the Market Type selection and strategy will
deliver the forecasted customers. Solid analysis of potential plusses and minuses of channels/customer relationships.
3. Competitor: direct, indirect
comparison, competitive strategy and
evidence of testing competitive strategy.
Describe and critique based on Blue
Ocean methodology.    15    Competitor analysis is no more than a list of potential
competitors. Differentiation is unclear and not clear what the
`competitive advantage` is based on. No evidence of testing of
the strategy.    Great competitor analysis, based on Blue Ocean. (Evidence of use of Blue Ocean analysis tools in the attachment).
Understanding of competitors leads to improved value proposition for potentially new segments and creates a differentiated competitor strategy.
4. Key partners, founding team and
technical feasibility: MVP status:
Describe and critique based on analysis
learned in unit    5    Student shows poor understanding of the function of an MVP.
No effort to analyse the insights and no discussion of possible
MVP. Key partners and team members are not, or poorly,
considered.    Discussion of insights leads to description of MVP(s). Initial attempts made to design a very basic prototype/put together a MVP/mock-up. Great understanding of the importance of
key partners and a great team to make it happen, analysis of required key partnerships and members of founding team.
5. Financials: cash flow, cost structure,
revenue stream, profitability and Break-
Even based on analysis learned in unit.    10    Core company operating and overhead costs (like payroll, rent,
legal, overhead etc.) are not clearly identified. No strategic
foundation for revenue streams. Potential product development
and manufacturing costs unfounded. Student shows little
understanding of pricing models.    Well-founded analysis for size of market opportunity, revenue streams, cost structure, cash-flow and break even.
Shows understanding of the degree of required profitability in the financial model and student has given the revenue
impact of competitive response to the product some consideration including ways to mitigate.
Conclusion business model
confirmation/alternatives: what next?
Take a step back and critique your
opportunity report: Pivot or proceed?    20    Student uses a sales attitude throughout the report, ignoring
potential problems. `Head in the sand` attitude leads to poorly
developed business model. Evidence of (poor) use of few tools
in the appendix. Overall poorly written, lay-out unimpressive.    Great self-critique leads to discovery of creative business model. Some mitigation of problems on the road ahead is mentioned (no need to develop). Strong list of dot-points that need to be addressed. Beautiful lay-out, well written.

Appendix D KOLB Reflection
Based on your participation in class and online you must analyse and reflect on what you did well and what
you believe you should or could have done differently. You should analyse a critical incident in relation to
entrepreneurship (not group process!!) in which you were involved and prepare a reflection report using the
Kolb Learning Cycle.
This is a personal reflection and is not about what the group did right or wrong. You must make sense or
meaning of what happened. What helped and/or hindered you in your learning about lean startup? Select
and describe a critical incident to illustrate your point in depth. Then theorise and generalise from the sense
you have made. It is ultimately important that you use multiple theories to analyse what happened (minimum
of two theories per incident, more is better!).
Make further sense by analysing the events and arguing your points purposefully and persuasively.
Reference any theory that you use from other sources. Finally and most importantly, actively plan how you
will apply your learning in the future and validate the plan based on theory referenced.
Kolb Reflection
Use the following EXPERIENTIAL LEARNING METHODOLOGY (adapted from Kolb’s
model)
(i) SELECTING AND DESCRIBING
This is the CRITICAL foundation for later sections. Picture, select and describe behaviours, processes, or
issues that you’ve come across. Ask yourself:
??What did I see? What did I hear? What did I feel during experiencing the issue?
??What happened? Use at least two real life examples.
(ii) REFLECTING AND INFERRING
Attempt to convey your own understanding of the issues that you experienced. Make sense of your own
experience in your own words
??What conclusions (or inferences) can I derive from my observations and experience?
??What meanings or sense can I make of it?
??What helped or hindered me from achieving my learning goals?
(iii) THEORISING AND GENERALISING: Apply theory
Demonstrate your knowledge of lean startup. Show what you have learned, and purposefully and
persuasively argue your case in applying the concepts/theory learned in lectures/readings/your own
resources.
Outstanding work will demonstrate use of theory beyond the lectures/readings.
•How does theory that I came across make more meaning of my experience?
•How does theory explain what happened, could have prevented mistakes?
•What generalisations can I make for the wider world?
(iv) ACTIVE PLANNING: Recommendations
Make action recommendations for yourself as a potential entrepreneur. Recommendations must link back to
the theory above (validate!) not just your own opinion. What should you learn, why/how should you behave in
certain manner to be more effective: 1] individually, and 2] in groups?
??How can I change my behaviour to be a more effective entrepreneur?
??What would others see or hear me doing differently?
??What action recommendations can I make for others to be more effective as an entrepreneur?