Project Management for Startups

Having a solid framework is important to sustaining your startup for the long haul! Using the “Business Model Canvas” is what you need to concentrate on.

Project Management for Startups

  • Starting with “Value Propositions”
  • then “Customer Segments”…
  • then make sure you know your “Channels”!   

Have these FULLY filled out in total detail before you move on to any other segment.  These are the most important segments in your startup.

What exactly is a value proposition?

A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you.

Your Value Proposition is a clear statement that:

  • explains how your product solves customers’ problems or improves their situation (relevancy),
  • delivers specific benefits (quantified value),
  • tells the ideal customer why they should buy from you and not from the competition (unique differentiation).

You have to present your value proposition as the first thing the visitors see on your home page, but should be visible in all major entry points of the site.

Get out and ask questions. Lots and lots of questions. Truly find out what your customer problems truly are.  This may cause you to pivot your business but knowing what problem your solving can actually “make or break you” !

Customer Segments

Being able to sigmate your clients is key to building your business because “one-size-fits-all” approach doesn’t work.

Customer segmentation is simply the grouping together of customers based on similarities they share with respect to any dimensions YOU deem relevant to your business.  Dimensions could include customer needs, preferences, interest in specific product features, customer profitability – the list goes on. But you need to break them down.. and down.. and down. Until you can’t break it down anymore.  BE SPECIFIC!  ( this will help you with keeping on track for all your marketing material)

Important to know that customer segmentation relies on identifying key differentiators that divide customers into groups that can be targeted. Information such as a customers’ demographics (age, race, religion, gender, family size, ethnicity, income, education level), geography (where they live and work), psychographic (social class, lifestyle and personality characteristics) and behavioural (spending, consumption, usage and desired benefits) tendencies are taken into account when determining customer segmentation practices.

Once you have carried out your research, you can then adapt your marketing to reach customers and deliver the products and services they want.

What Channels do I use?

After knowing your Value Proposition and your Customers Segments knowing how to reach them is the next key step. This “Should” be a little easier after answering the others.

Before you can actually start in the selection process to identify the best digital marketing tools, you must first learn and familiarize yourself with the various channels that are available.

  • Email Marketing (email will always be KING! Facebook and twitter actually own what you have but you own your email list! )
  • Pay-Per-Click Advertising (PPC) – Facebook ads
  • Search Engine Optimization (SEO)
  • Display Advertising
  • Social Media Marketing (SMM)
  • Content Marketing
  • Affiliate Marketing – easy and cheap!!!!
  • Online Public Relations

Maintaining a digital marketing campaigns will require the use of personnel with a certain level of skills and knowledge on various aspects of your channels. You need to identify these to establish if your in-house resources would be sufficient for the job or will there be a need for outsourcing

Being able to answer these 3 aspects of your Business Model Canvas will get you started in the right direction. 

Remember you may have to hire staff, or pivot your business to make things work.  These are two things you need to know before you move forward. 

Lynne Conrad

Project Manager