During yesterday’s call an important question came up: How we generate revenues to cover the costs of coordinating not only the OSCE Days, but the needed follow up work too?
Most initiatives fail to generate monetary resources not because they don’t manage to develop and deliver a product to the market; they fail because they develop and deliver an experience, service or product that no customers want or need enough to pay for. While it does require a core team to coordinate it, OSCE days is a collaborative and decentralised initiative. So it makes sense to structure a process which everyone can participate in to build economic sustainability into the project in a decentralised way.
I propose that we set up a series of 5 community calls, one for each step in the process below, and document everything online:
Identify and document our assumptions
- What are our assumptions/hypotheses about how we gratify our clients and or sponsors, who they are, how we will acquire and monetize them?
- What are our assumptions/hypotheses about how we gratify the local organisers of the OSCE Days, who they are, as well as how we engage them into becoming more active users of the site?
Talk to prospective customers to validate (or invalidate) our assumptions
- What problems do they face? How do they solve them? What matters to them? What is a must-have for them?
Identify the risk factors in the opportunity
- Are we facing significant technology risks? Or more of market risk? How can we test and validate these (starting with the most risky)? What market testable milestones can we build that would result in sufficient evidence to induce us to pivot or move forward? A proof of concept? A letter of intent? A prototype?
Create and Test a Minimum Viable Offer
- landing page click-through that prove there’s some amount of interest in an experience, product or service;
- a time commitment for an in-person meeting to view a demo that shows the customer or funder's problem being resolved;
- a resource commitment for a pilot program to test how the experience, product or service or product fits into a particular environment.
Once we have users using our MVO we listen for & tune into the Must-have signal
- We listen very carefully to find our must-have signal and articulate it.
- We Double-down and strip away the unnecessary> focus on building an experience, service or product that is cherished and supported by everyone who uses it.
This was my first attempt. Does this make sense to you? Do you want to be involved?
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