{"id":1562,"date":"2023-05-03T10:00:00","date_gmt":"2023-05-03T04:30:00","guid":{"rendered":"http:\/\/www.lokawiz.com\/blog\/?p=1562"},"modified":"2023-05-03T09:37:55","modified_gmt":"2023-05-03T04:07:55","slug":"a-look-back-on-progress-pathfinding","status":"publish","type":"post","link":"http:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/","title":{"rendered":"A Look-Back on Progress: Pathfinding"},"content":{"rendered":"Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>\n
Cover Background Image by Vishnu Mohanan<\/a> on Unsplash<\/a> <\/strong><\/span><\/h6>\n
\n

Particular molecular movement (results) from particular volition.<\/strong><\/em>
\u2013 Ka\u1e47\u0101da (\u0915\u0923\u093e\u0926)<\/strong><\/em><\/p>\n

Life is a matter of choices, and every choice you make makes you.
\u2013 John C. Maxwell<\/strong><\/em><\/p>\n<\/blockquote>\n

Pathfinding<\/span><\/a>\u00a0is the procedure for finding the shortest and lowest-cost path from a starting point to the destination. In Computer Science, standard\u00a0<\/span>pathfinding algorithms<\/span><\/a>\u00a0produce effective results for a static graph.<\/span><\/p>\n

Unfortunately, A deep tech startup focused on innovation does not enjoy the luxury of standard algorithms. So, in effect, we needed to employ innovative methods to connect our products to market needs and deliver the best value to our customers.<\/span><\/p>\n

We adopted a scientific approach to business model innovation.\u00a0<\/span>Through our customer development process, we tested our business model assumptions (hypotheses), identified their validity or invalidity and made several pivots to reach the model that would maximize the value delivered to our customers.<\/span><\/p>\n

Below is an account of the outcomes of our pathfinding efforts. The data points are for the period starting 2021 through 2022.<\/p>\n

Hypotheses<\/h4>\n

We tested well over a hundred big and small business model hypotheses in half a dozen areas of interest through our customer development experiments. Many of these hypotheses and their validation or invalidation affected our overall business strategy to a great extent.<\/p>\n

\"Lokawiz<\/a>
Lokawiz \u2013 Hypotheses 2021-22<\/figcaption><\/figure>\n

The above stats represent the number of hypotheses tested in each business area of interest. These stats also reflect our efforts allocation in those areas and give an intelligent clue about the nature of our business operations.<\/p>\n

Validation<\/span><\/h4>\n

Of all the tested hypotheses, we found less than one-third of them to be valid that could contribute towards making a high-performing startup business model. For the ‘Customer Problems’ and ‘Channel & Pricing’ categories, we could find as low as only one-fourth of our hypotheses to be valid.<\/span><\/p>\n

\"Lokawiz<\/a>
Lokawiz \u2013 Validation 2021-22<\/figcaption><\/figure>\n

The above image represents the valid hypotheses stats. The validation process compelled us to make the right choices that define our current business model. It has also been humbling because, being a team with high industry experience, we were wrong more than twice as often as we were right.<\/p>\n

Pivots<\/span><\/h4>\n

We made most – over three-fourths of all – pivots in specific categories solely to increase our products’ desirability to the customers. The most pivots were for ‘Customer Segment’ followed by ‘Value Capture’ and the others. There were none for the ‘Technology’, ‘Product Zoom-in’ and ‘Growth Engine’.<\/span><\/p>\n

\"Lokawiz<\/a>
Lokawiz \u2013 Pivots 2021-22<\/figcaption><\/figure>\n

The above image represents the pivots’ stats. The concentration of pivots in the specific categories reflects our seriousness and commitment towards delivering the best value to our customers through our products and services.<\/p>\n

\u00a0<\/p>\n

The entire process has been very challenging but also so much rewarding. We needed to make tough choices based on the validation or invalidation of our hypotheses and hence, several pivots. Of those, a significant number were quite gruelling. Yet, it ensured we have all three critical business elements\u2014product feasibility, their desirability for customers and overall business viability.<\/p>\n

Previous: A Look-Back on Progress: Customers<\/a><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>Cover Background Image by Vishnu Mohanan on Unsplash Particular molecular movement (results) from particular volition.\u2013 Ka\u1e47\u0101da (\u0915\u0923\u093e\u0926) Life is a…<\/p>\n","protected":false},"author":1,"featured_media":1580,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[8,1],"tags":[214,212,203,199,221,213,219,216,220,211,204,215,209],"yoast_head":"\nA Look-Back on Progress: Pathfinding - Lokawiz<\/title>\n<meta name=\"description\" content=\"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Look-Back on Progress: Pathfinding - Lokawiz\" \/>\n<meta property=\"og:description\" content=\"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\" \/>\n<meta property=\"og:site_name\" content=\"Lokawiz\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/lokawiz\" \/>\n<meta property=\"article:author\" content=\"www.facebook.com\/lokawiz\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-03T04:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-03T04:07:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2023\/04\/Lokawiz-A-Look-Back-on-Progress-Pathfinding-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lokawiz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Lokawiz\" \/>\n<meta name=\"twitter:site\" content=\"@Lokawiz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lokawiz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\"},\"author\":{\"name\":\"Lokawiz\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/f6123129b2bbfb1e2a39f6e1e8363334\"},\"headline\":\"A Look-Back on Progress: Pathfinding\",\"datePublished\":\"2023-05-03T04:30:00+00:00\",\"dateModified\":\"2023-05-03T04:07:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\"},\"wordCount\":526,\"commentCount\":0,\"publisher\":{\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#organization\"},\"keywords\":[\"Businessmodel\",\"Customerdevelopment\",\"Deeptech\",\"innovation\",\"Lean Startup\",\"Market\",\"Market Validation\",\"Pathfinding\",\"Pivots\",\"Sales\",\"Startup\",\"Strategy\",\"Technology\"],\"articleSection\":[\"Business\",\"Default\"],\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\",\"url\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\",\"name\":\"A Look-Back on Progress: Pathfinding - Lokawiz\",\"isPartOf\":{\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#website\"},\"datePublished\":\"2023-05-03T04:30:00+00:00\",\"dateModified\":\"2023-05-03T04:07:55+00:00\",\"description\":\"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/www.lokawiz.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A Look-Back on Progress: Pathfinding\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#website\",\"url\":\"http:\/\/www.lokawiz.com\/blog\/\",\"name\":\"Lokawiz\",\"description\":\"Technology for wonderful world\",\"publisher\":{\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/www.lokawiz.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en\"},{\"@type\":\"Organization\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#organization\",\"name\":\"Lokawiz\",\"url\":\"http:\/\/www.lokawiz.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2017\/09\/lokawiz-banner.png\",\"contentUrl\":\"http:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2017\/09\/lokawiz-banner.png\",\"width\":639,\"height\":617,\"caption\":\"Lokawiz\"},\"image\":{\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"http:\/\/www.facebook.com\/lokawiz\",\"https:\/\/twitter.com\/Lokawiz\",\"https:\/\/www.linkedin.com\/company\/lokawiz\",\"https:\/\/www.pinterest.com\/lokawiz\/\",\"https:\/\/www.youtube.com\/channel\/UCHTT0_uvQnUPpSh41RQK4lw\"]},{\"@type\":\"Person\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/f6123129b2bbfb1e2a39f6e1e8363334\",\"name\":\"Lokawiz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"http:\/\/0.gravatar.com\/avatar\/0ee8ecf943c5a1e694835c46d6dd4ea4?s=96&r=g\",\"contentUrl\":\"http:\/\/0.gravatar.com\/avatar\/0ee8ecf943c5a1e694835c46d6dd4ea4?s=96&r=g\",\"caption\":\"Lokawiz\"},\"description\":\"Lokawiz came into existence in 2015 and started its operations in the following year with a simple goal of creating smart solutions and providing superior services in Embedded, Internet of Things (IoT), Simulation Modeling and related Technology domains. In a short time period, we have served customers from across major corners of the globe and also built a decent portfolio of in-house work domain solutions and IPs. At Lokawiz, we believe superior client service requires technical and execution excellence along with clear communication. Our firm hires the best talent to ensure the same for our customers. We rely on a team of highly experienced and talented individuals with cumulative work experience of over a century in the work domain. We strive to deliver an individual, innovative and affordable solution and give our best to every project we undertake. Lokawiz solution and IP portfolio include Home and Industrial IoT solution, Smart Network Monitoring and Control solution, Smart Location Acquisition and Tracking solution, RTL IPs such as AES Core, SD Slave controller and SPI Master Controller. We put high emphasis on good processes and collaborate with ISO certified and local establishments of reputed global companies to ensure superior quality of our products and solutions provided to the customers. This helps us build high quality products and solutions and also in later certification stages.\",\"sameAs\":[\"http:\/\/www.lokawiz.com\",\"www.facebook.com\/lokawiz\",\"https:\/\/twitter.com\/Lokawiz\"],\"url\":\"http:\/\/www.lokawiz.com\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A Look-Back on Progress: Pathfinding - Lokawiz","description":"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/","og_locale":"en_US","og_type":"article","og_title":"A Look-Back on Progress: Pathfinding - Lokawiz","og_description":"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.","og_url":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/","og_site_name":"Lokawiz","article_publisher":"http:\/\/www.facebook.com\/lokawiz","article_author":"www.facebook.com\/lokawiz","article_published_time":"2023-05-03T04:30:00+00:00","article_modified_time":"2023-05-03T04:07:55+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2023\/04\/Lokawiz-A-Look-Back-on-Progress-Pathfinding-Cover-Image.jpg","type":"image\/jpeg"}],"author":"Lokawiz","twitter_card":"summary_large_image","twitter_creator":"@Lokawiz","twitter_site":"@Lokawiz","twitter_misc":{"Written by":"Lokawiz","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#article","isPartOf":{"@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/"},"author":{"name":"Lokawiz","@id":"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/f6123129b2bbfb1e2a39f6e1e8363334"},"headline":"A Look-Back on Progress: Pathfinding","datePublished":"2023-05-03T04:30:00+00:00","dateModified":"2023-05-03T04:07:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/"},"wordCount":526,"commentCount":0,"publisher":{"@id":"http:\/\/www.lokawiz.com\/blog\/#organization"},"keywords":["Businessmodel","Customerdevelopment","Deeptech","innovation","Lean Startup","Market","Market Validation","Pathfinding","Pivots","Sales","Startup","Strategy","Technology"],"articleSection":["Business","Default"],"inLanguage":"en","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/","url":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/","name":"A Look-Back on Progress: Pathfinding - Lokawiz","isPartOf":{"@id":"http:\/\/www.lokawiz.com\/blog\/#website"},"datePublished":"2023-05-03T04:30:00+00:00","dateModified":"2023-05-03T04:07:55+00:00","description":"As an innovative deep-tech startup, our efforts to connect our products to customers has been very challenging yet so much rewarding.","breadcrumb":{"@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.lokawiz.com\/blog\/default\/a-look-back-on-progress-pathfinding\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.lokawiz.com\/blog\/"},{"@type":"ListItem","position":2,"name":"A Look-Back on Progress: Pathfinding"}]},{"@type":"WebSite","@id":"http:\/\/www.lokawiz.com\/blog\/#website","url":"http:\/\/www.lokawiz.com\/blog\/","name":"Lokawiz","description":"Technology for wonderful world","publisher":{"@id":"http:\/\/www.lokawiz.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.lokawiz.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en"},{"@type":"Organization","@id":"http:\/\/www.lokawiz.com\/blog\/#organization","name":"Lokawiz","url":"http:\/\/www.lokawiz.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"http:\/\/www.lokawiz.com\/blog\/#\/schema\/logo\/image\/","url":"http:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2017\/09\/lokawiz-banner.png","contentUrl":"http:\/\/www.lokawiz.com\/blog\/wp-content\/uploads\/2017\/09\/lokawiz-banner.png","width":639,"height":617,"caption":"Lokawiz"},"image":{"@id":"http:\/\/www.lokawiz.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["http:\/\/www.facebook.com\/lokawiz","https:\/\/twitter.com\/Lokawiz","https:\/\/www.linkedin.com\/company\/lokawiz","https:\/\/www.pinterest.com\/lokawiz\/","https:\/\/www.youtube.com\/channel\/UCHTT0_uvQnUPpSh41RQK4lw"]},{"@type":"Person","@id":"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/f6123129b2bbfb1e2a39f6e1e8363334","name":"Lokawiz","image":{"@type":"ImageObject","inLanguage":"en","@id":"http:\/\/www.lokawiz.com\/blog\/#\/schema\/person\/image\/","url":"http:\/\/0.gravatar.com\/avatar\/0ee8ecf943c5a1e694835c46d6dd4ea4?s=96&r=g","contentUrl":"http:\/\/0.gravatar.com\/avatar\/0ee8ecf943c5a1e694835c46d6dd4ea4?s=96&r=g","caption":"Lokawiz"},"description":"Lokawiz came into existence in 2015 and started its operations in the following year with a simple goal of creating smart solutions and providing superior services in Embedded, Internet of Things (IoT), Simulation Modeling and related Technology domains. In a short time period, we have served customers from across major corners of the globe and also built a decent portfolio of in-house work domain solutions and IPs. At Lokawiz, we believe superior client service requires technical and execution excellence along with clear communication. Our firm hires the best talent to ensure the same for our customers. We rely on a team of highly experienced and talented individuals with cumulative work experience of over a century in the work domain. We strive to deliver an individual, innovative and affordable solution and give our best to every project we undertake. Lokawiz solution and IP portfolio include Home and Industrial IoT solution, Smart Network Monitoring and Control solution, Smart Location Acquisition and Tracking solution, RTL IPs such as AES Core, SD Slave controller and SPI Master Controller. We put high emphasis on good processes and collaborate with ISO certified and local establishments of reputed global companies to ensure superior quality of our products and solutions provided to the customers. This helps us build high quality products and solutions and also in later certification stages.","sameAs":["http:\/\/www.lokawiz.com","www.facebook.com\/lokawiz","https:\/\/twitter.com\/Lokawiz"],"url":"http:\/\/www.lokawiz.com\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/posts\/1562"}],"collection":[{"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/comments?post=1562"}],"version-history":[{"count":53,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/posts\/1562\/revisions"}],"predecessor-version":[{"id":1640,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/posts\/1562\/revisions\/1640"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/media\/1580"}],"wp:attachment":[{"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/media?parent=1562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/categories?post=1562"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.lokawiz.com\/blog\/wp-json\/wp\/v2\/tags?post=1562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}