Perspectives

Venture Mapping: Keeping control, minimising risk

Jon Swinbourne

Ideation-1

 

Following on from my last blog about ideation which can be found here, the next step on the entrepreneurial journey with B13 is called ‘Scope Session’. In this short blog, I describe what a Venture Mapping is, what you can expect from it and why it has a crucial part in bringing your idea to life and keeping control of your tech project.

So, you have refined your idea, you’ve done some research and are now confident that you have come up with a digital solution, platform, application or product that warrants investment of both time and money. It is natural to start to wonder exactly how much it will cost and how long it will take. You might even want to know if it is actually possible! You should also think about how it can potentially integrate into other internal or external systems and about ongoing support and maintenance.

It is at this point that you are ready to engage a company like B13 Technology to conduct a key phase of work before any development starts. Our Venture Mapping process has been designed with entrepreneurs and business leaders in order to de-risk and keep control of the project at the start of the development process. We ensure clarity and alignment on exactly what it is you want to create, along with an indication of cost.

Venture Mapping sessions are about turning your ideas and research into well-defined requirements and priorities that can be used as the spine and start point for your development initiative. The whiteboard meeting will last 2-3 hours and from here we will produce:

  • High-level user stories
  • Functional specification document
  • Technical specification
  • Wireframes or "mockup" designs

We will then have a follow up meeting to review these documents and conduct a MoSCoW prioritisation against key features, discuss the technical specification and review integration requirements and software language choices.

After this meeting is completed a detailed fixed-price statement of work can be defined, along with indicative costs for the ongoing maintenance and support of the solution once it has been built.

Only when it is 100% agreed and set in stone exactly what will be delivered in the statement of work document, is it then signed by both parties so development can begin.  At B13 Technology, we offer this process as a loss leader at £1200 + VAT as we believe it is so critical to enabling entrepreneurs to be clear on what is required to bring an idea to life from a development and cost perspective before they start to spend money on development. 

From experience, whiteboarding sessions are fun and engaging sessions for both us and the client. How long do they take? What’s involved? Who needs to attend? Can they happen virtually? How much does it cost?  These FAQ’s will all be answered in my next blog... Watch this space!

If you’ve got an early-stage idea, want to find out how software development works or you're interested in finding out about how we can partner with existing tech companies – please get in touch by emailing me, Jon Swinbourne or book a call.

 

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