Rising out of the Crisis: Where to Find New Markets and Customers

Lessons Learned

” – The COVID-19 crisis and recovery creates fundamental shifts in our economies and societies, and a “new normal” is emerging
– Winners in this new normal will be able to quickly understand
– what are their company’s core competencies/abilities, and
– the new market needs where their competencies/abilities could be used
– The Market Opportunity Navigator is a framework for this identification process
– Worksheets and supporting material can be downloaded at wheretoplay.co

Steve Blank

The pandemic has upended the business models of most startups and existing companies. As the economy reopens companies are finding that customers may have disappeared or that their spending behavior has changed. Suppliers are going out of business or requiring cash-up-front terms. Accounts receivables are stretching way out. Revenue models and forecasts are no longer valid.

In sum, whatever business model you had at the beginning of the year may be obsolete.

While there’s agreement that companies need to adapt to changing markets, rapidly find new markets, new customers and new revenue models, the question is how? What tools and methods can a C-suite team use to do so?

While the Lean Startup was built with Business Model Canvas, Customer Development and Agile Engineering, there’s an additional tool — the Market Opportunity Navigator — that can help entrepreneurs discover new opportunities.

Here’s how.

Companies have rapidly responded to…

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