Concrete Experience

This week, we systematically learned the nine components of Business Model Canvas (BMC) (customer segmentation, value proposition, channels, revenue sources, etc.). Dr. Dinara emphasised that BMC is not a “one-time planning tool” but should be combined with the Strategizes method for iteration and verification. In team activities, I led and assisted in completing the initial construction of the business model. I also assisted in writing a list of user pain points and assumptions. Through this week’s business model exercises, I have mastered the basic usage of the BMC and Strategyzer methods. I realise that this will be of great significance to my future career development in innovation project management, product design or entrepreneurship.

Reflective Observation

Through classroom cases and actual team discussions, I began to realise that I had fallen into the trap of “plan perfectionism” in the past. However, the course emphasised that entrepreneurship is not about writing perfect plans but about quickly verifying assumptions (Bland and Osterwalder, 2020).

This reflection process made me realize that in the future, whether in internal product development or entrepreneurial practice, the ability to quickly verify assumptions and make judgments based on data will be indispensable skills. This user insight will be of great benefit to my future position as a product manager or innovation decision maker.

Abstract Conceptualisation

I have a deeper understanding of the core concept of Lean Startup: “Build → Measure → Learn” is the essence of cyclical innovation (Felin et al., 2020). We must decompose the business model into a series of “hypotheses to be verified” and obtain feedback through real user behaviour. I also realised that Strategyzer’s “Testing Cards” is a very practical team communication tool. It helps us structure each hypothesis (such as customer type, price sensitivity, value recognition) and design corresponding testing methods.

In theory, I also began to think about how to use data-driven MVP design to maximise learning efficiency and avoid resource waste. The “intention-action bias” in behavioural psychology also reminds me that I can’t just look at user statements. We need to pay more attention to their real click and conversion behaviours (Bland and Osterwalder, 2020).

Active Experimentation

Based on what I have learned and reflected on, I plan to design two versions of the advertising slogan, emphasising “environmental responsibility” and “cost-effectiveness”. I plan to compare and place ads through Instagram or Xiaohongshu to observe the difference in click-through rates. I also plan to organise an internal team sharing session to explain the lean startup method and user behaviour testing techniques. This can unify the team’s understanding of “verification rather than imagination”.