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PMF Info (This is pre-BMC, pre-PRD work)
Sort intro
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Problem Space - Business background
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The purpose of this doc is to give the team and stakeholders a succinct view on the problem space. This document is intended to be complementary to our overall strategy, positioning, competitive and other documents. We should assume those are known, and only put in this document what is specific or different about this problem space.  |
Strategy alignment
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Briefly confirm the strategic alignment and if this project falls into one of the strategic initiatives Start writing here:Yes, aligned with overall strategy. |
Customer & Problem
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Start writing here:Focus customer of the initiative is stage agencies. "State agencies" refers to government departments, offices, or organizations at the state level, rather than the federal or local levels. |
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What problem do we solve? See if we have answers for these topics / questions:
Start writing here:Unmet needs:
State agencies must adhere to a wide array of regulations across different domains. A common unmet need is a centralized solution that can map and manage all the diverse compliance requirements a state agency needs to adhere to efficiently.
Regulations frequently change. State agencies need a tool that provides real-time updates on regulatory changes to ensure continuous compliance |
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Why do they have to solve these now? Reason-to-act?
Is this problem at scale or local/trivial?
Pains:
Resource Intensiveness: Manual compliance processes are often time-consuming and require substantial manpower, diverting resources from other critical tasks.
Risk of Non-compliance: The complexity and evolving nature of regulations pose a constant risk of non-compliance, which can result in significant penalties and reputational damage.
Information Overload: Sifting through vast amounts of regulatory information to identify relevant requirements is overwhelming and prone to errors.
Lack of Expertise: Limited access to compliance expertise can make navigating regulatory landscapes challenging, especially for less common or new regulations.
Gains:
Efficiency and Cost Savings: Automating compliance processes can significantly reduce the time and resources required for compliance management, leading to cost savings.
Risk Mitigation: Real-time updates and proactive compliance management help mitigate the risk of non-compliance and associated penalties.
Enhanced Compliance Oversight: A centralized dashboard for tracking compliance status across various regulations enhances oversight and decision-making capabilities.
Improved Regulatory Insight: Access to expert analysis and interpretations of regulations can improve understanding and compliance strategies.
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Why UCF is better or worse positioned to solve the need Why would we not be well positioned? Start writing here:Reputation in the industry for part of the unmet needs We are known in the compliance industry for compliance mapping Proven expertise in mapping Existing references across industry Leverage of partners / GTM with strong existing presence in target market Our solution will be encapsulated in a larger offering from ServiceNow, which has strong presence in the market:
Why would we not be well positioned? We do not have an existing footprint We do not have direct access to the end-customers |
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Start writing here: |
Solution outline
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Key capabilities to best address the unmet need
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Use high-level descriptions of capabilities, use bullets, this is not PRD phase
Start writing here:
@sonny - How do we envision delivery? Are there online marketplaces or so that we have to get the content pack on? Or customers comes to our site and signs up? |
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What is defensibly unique about |
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| title | Validation and proof points: |
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Do we have validation of the needs?
Beyond internal conversations, discussions with partners and friends.
Industry stats
e.g. research reports, general industry numbers,…
Customer discovery interviews
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our capability <> unmet needs set? |
(if anything)
Concrete examples:
eg Atlanta agencies or others. We need some real lists and real systems that they integrate with:
Start writing here: |
Go-To-Market
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Total Addressable Market (TAM) The whole universe of |
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customers who experience this need |
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The average number of agencies per state is 150. Which more or less would bring us to 7,500 potential customers in this initiative.
and whom we can reach. Serviceable Available Market (SAM) The part of this market that we can realistically reach and convert in a medium- to long-term |
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Serviceable Obtainable Market (SOM) What can we realistically capture of this market in 18-24 months after solution launch? What are our beach-heads? Taking into account our
Start writing here:TAM: The average number of agencies per state is 150. Which more or less would bring us to 7,500 potential customers in this initiative. SAM: If we assume that we can close 2% of that business that is 3 deals per state. Not accounting for a price increase that is 3 agencies x 50 states = 150 CCH Accounts. 150 accounts x $10,000 = $1.5M annually SOM: ? ToDO still - some rough estimates on timelines for a revenue sequence:  These bits of info might help us to get clarity
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Early adopters & how to reach them:
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Strategic partnerships
This initiative is intended to leverage the TemplarShield - ServiceNow partnership relations.
GSA listing?
Getting listed on the General Services Administration (GSA) Schedule
Content marketing / though leadership
Develop and share insightful content that addresses the specific compliance challenges faced by state agencies. This could include white papers, case studies, blog posts, and webinars
Industry shows
Are there specific shows where our customers could be reached
Budget
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How would we follow-up on deals/get informed?
Start writing here:This is a partner-led play. No marketing budget is asked currently. The initiative would need support from marketing with supporting basic webpages |
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Strategy to scale-up What is the inflection point of when to switch from beachhead to scaling? Start writing here: |
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Start writing here:Our solution is part of larger compliance deals that ServiceNow delivers to the state agencies. We currently decided to move forward with our standard pricing. |
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Model
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Unfair advantages or blockers
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If we don't have any, that is ok, don't invent any. Start writing here: |
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If we don't have any, that is ok, don't invent any. Start writing here:
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Attachments:
BMC Canvas
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ICP definition
PRD,…