Lesson 5: Validation
Module 1: Blue Ocean Strategy
Module 2: Building Solution Demo and MVP
Module 3: Validating Solution Demo and MVO
Previous Class Lesson
In the previous lesson, you created your business model using the Lean Canvas, identified the riskiest assumptions of
your business model. Based on your findings, you will now refine your unique value proposition using the Blue
Ocean Strategy.
After that in next module, you will also validate your riskiest assumptions by building and testing a solution demo
and conducting solution interviews.
Next, you will build a Minimum Viable Product (MVP) and validate it through MVP interviews. The results of your
MVP interviews will help make your solution product-market fit.
You will present your MVP to the class. You will also launch your MVP in or around your college campus. It is time to
start making money from your practice venture! This will be the third milestone of your practice venture journey.
Finally, you will present your MVP to the class.
In this lesson, you will validate the riskiest assumptions of your business model by:
Refining your Value Proposition
Building your solution demo
Validating your solution demo or planning to pivot through solution interviews
Building your MVP
Validating your MVP or planning to pivot through MVP interviews
Module 1: Blue Ocean Strategy
Blue Ocean Strategy is a way through which organisation makes their competitor irrelevant.
'Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition.
This strategy revolves around searching for a business in which very few firms operate and where there is no pricing
pressure.
In today's environment most firms operate under intense competition and try to do everything to gain market share.
When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come
under threat. This situation usually comes when the business is operating in a saturated market, also known as 'Red
Ocean'.
When there is limited room to grow, businesses try and look for verticals or avenues of finding new business where
they can enjoy uncontested market share or 'Blue Ocean'. A blue ocean exists when there is potential for higher
profits, as there is now competition or irrelevant competition.
The strategy aims to capture new demand, and to make competition irrelevant by introducing a product with
superior features. It helps the company in make huge profits as the product can be priced a little steep because of its
unique features.
Module 1: Blue Ocean Strategy
Module 2: Building Solution Demo and MVP
Module 3: Validating Solution Demo and MVO
Previous Class Lesson
In the previous lesson, you created your business model using the Lean Canvas, identified the riskiest assumptions of
your business model. Based on your findings, you will now refine your unique value proposition using the Blue
Ocean Strategy.
After that in next module, you will also validate your riskiest assumptions by building and testing a solution demo
and conducting solution interviews.
Next, you will build a Minimum Viable Product (MVP) and validate it through MVP interviews. The results of your
MVP interviews will help make your solution product-market fit.
You will present your MVP to the class. You will also launch your MVP in or around your college campus. It is time to
start making money from your practice venture! This will be the third milestone of your practice venture journey.
Finally, you will present your MVP to the class.
In this lesson, you will validate the riskiest assumptions of your business model by:
Refining your Value Proposition
Building your solution demo
Validating your solution demo or planning to pivot through solution interviews
Building your MVP
Validating your MVP or planning to pivot through MVP interviews
Module 1: Blue Ocean Strategy
Blue Ocean Strategy is a way through which organisation makes their competitor irrelevant.
'Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition.
This strategy revolves around searching for a business in which very few firms operate and where there is no pricing
pressure.
In today's environment most firms operate under intense competition and try to do everything to gain market share.
When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come
under threat. This situation usually comes when the business is operating in a saturated market, also known as 'Red
Ocean'.
When there is limited room to grow, businesses try and look for verticals or avenues of finding new business where
they can enjoy uncontested market share or 'Blue Ocean'. A blue ocean exists when there is potential for higher
profits, as there is now competition or irrelevant competition.
The strategy aims to capture new demand, and to make competition irrelevant by introducing a product with
superior features. It helps the company in make huge profits as the product can be priced a little steep because of its
unique features.
