In Fail Fast or Win Big: The Start-Up Plan for Starting Now, Bernhard Schroeder introduces what he characterizes as the Lean Model Framework. As he explains, “instead of spending months writing a business plan and then looking for investors, who may not give you any money anyway, adopt the Lean Model Framework. The Lean Model Framework is made up of four integrated components: Lean Resources, Business Model, Rapid Prototyping, and Customer Truth.”
Schroeder devised this Framework primarily for start-ups but, with only minor modification, it can also be of substantial assistance to those within a well-establish organization who seek funding for what they believe to be a promising new product or service. Here are the components:
o Lean Resources: “Empower a mentality that believes less is more; look to get your company [or project] started in the leanest way possible by leveraging everything that you can.”
o Business Model: “Take the time to really understand your marketplace, current trends, and your target market segment, then craft a business model that not only makes sense but it makes money.”
o Rapid Prototyping: “If you believe in using lean resources to move fast, then with the same mentality, create a minimum viable product or service that you can test with the marketplace as rapidly as possible.”
o Customer Truth: “Although selecting the right target customer segment is critical, listening to and gathering feedback from your potential customers is crucial. Feedback from customers is what will give you the insight needed to iterate, pivot, or abandon your idea.”
Schroeder explains all this in his brilliant book, published by AMACOM (February 18, 2015).
He is Director of Lavin Entrepreneurship Center Programs at San Diego State University, overseeing all of the undergraduate and graduate internship programs, the Lavin VentureStart Programs, and the SDSU Venture Challenge MBA competition as well as the SDSU business plan competition teams. He also has responsibility for the Center’s marketing on both the SDSU campus and in the San Diego community. Since moving to San Diego in 1997, he has specialized in working with senior executives and venture capitalists in either growth or turnaround opportunities with several companies including Nicholas-Applegate and Stellcom. In addition, he has received his master’s degree from San Diego State University.
Prior to moving to San Diego, Bernhard was a Senior Partner in the worlds’ largest integrated marketing communications agency, CKS Partners, which in 1998 had offices in over 30 countries, more than 10,000 employees and over $1 billion in revenue. Bernhard joined CKS in 1991 when the firm had only 35 employees and just $5.5 million in revenue. He opened the first out of state agency office for CKS in 1993 in Portland Oregon and, working with the other four partners, grew the firm to almost $40 million in revenue by 1995 and led CKS to a successful IPO that same year.
He has wide and deep experience working with Fortune 100 firms like Apple, Nike, General Motors, American Express, Mercedes Benz, Kellogg’s and others as well as start-up companies. He was involved in the initial branding and marketing launches for companies like Yahoo!, Amazon, Corbis, ESPN and Travelocity. Prior to CKS Partners, Bernhard worked with direct mail and database marketing agencies helping them grow significantly.