CoffeeMind @ Re:Co in Gothenburg

UPDATE: The full Re:Co presentation is now published on Youtube

 

In CoffeeMind we have been working with the Lean Startup Methodology for years with our customers since we believe that it is the right tool for startups (and often also big established companies exploring new business). Big companies has educated people who is able to craft and understand 50+ page long business plan but for most starups this is more confusing than clarifying! The ideation-style, much simpler and often more visual approach of the Lean Startup methodology makes it much more suitable for coffee enthusiasts/entrepreneurs who does not have a business degree!

Lean_Startup_-_Google_Slides

 

In Lean startup simple but solid data is the key. You need to break down your business model to the basic assumptions that should hold if your business model should be a success. So in Lean Startup you need to test a lot of basic assumptions and the closer you can get to ‘real’ behavior the better. Often people behave much different than they claim if you ask and that is a big risk for your test of your business model!

So enter behavioral economics..

Out of all the research I presented at Re:Co here is a small teaser:

We did a consumer study

Re_Co 2015

We served two different coffees – 1 low quality and 1 high quality and asked the customer the following:

 

Re_Co 2015-2

 

Re_Co_2015_-_Google_SlidesWith making this post a spoiler for the later video-release of the presentation I can point out that it is the lower left cell that is a bit surprising (if not scary) for a specialty coffee person! Of the 205 people in the survey 109 was able to detect correctly which one of the coffees being HQ.. But of the 109 who where able to detect HQ only 51 also had preference for HQ! That is 47% of the people who correctly points out HQ still prefers LQ. We expected some to be in this category but NOT this many.

The full presentation is published on Youtube