Principes fondamentaux du financement pour Lean Startups

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Démonstration par l'absurde de l'intérêt des pratiques LEAN STARTUP, et leur utilisation pour maximiser les financements.

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  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Vous savez tous que choisir c’est renoncer. A chaque instant vous allez être confrontés à des opportunités, des demandes, de nouvelles idées. Et vous devrez savoir dire non, rester cohérent.

  • Le pourquoi, c’est votre raison d’être, c’est constatation initiale de manque d’une solution sur le marché, à un problème spécifique, rencontré par une catégorie précise d’individus.
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Le quoi, c’est votre proposition de réponse à ce problème.
    Mais la création de valeur n’est pas au niveau de votre solution, mais la façon dont votre solution résout le problème.
  • Le quoi, c’est votre proposition de réponse à ce problème.
    Mais la création de valeur n’est pas au niveau de votre solution, mais la façon dont votre solution résout le problème.
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Problem/solution phase
    Qualitative measures
    Quantitatives measures when possible
  • Comment ?
  • Et ca ne fait qu’empirer parce que tout accélère (click)
  • Principes fondamentaux du financement pour Lean Startups

    1. 1. FAT FUNDING for Lean Startups Part 1: Capital efficiency By Sébastien Deschaux
    2. 2. In the 17th century, Denis Papin, a true genius, invented the steam cooker, piston, and engine. He died poor, alone, and nobody cared.
    3. 3. Let’s avoid this fate.
    4. 4. About the notions of Startups, R&D and Innovation :
    5. 5. If you know how to look
    6. 6. You may see potential in bare rocks
    7. 7. Enough to explore their hidden properties
    8. 8. Until maybe you can refine them into Gold And bring their inner value to the world
    9. 9. If you see potential in knowledge and emergent technologies
    10. 10. You can explore audacious concepts
    11. 11. Hopeful to turn them into great products and great companies
    12. 12. R&D turns money into knowledge and technologies R&D
    13. 13. Innovation Innovation turns knowledge and technologies into more money
    14. 14. Startup : (noun, often attributive) ˈstärt-ˌəp Any kind of human organization designed to deliver a new product or service under conditions of extreme uncertainty.
    15. 15. Shouldn’t we stop guessing ?
    16. 16. Not so long ago, people believed they accurately described the world with this vision:
    17. 17. Timing and workload HeavenandEarth
    18. 18. Would you board a rocket engineered for this vision of the world ?
    19. 19. No, you wouldn’t.
    20. 20. Then why would you start a business based on unverified assumptions ?
    21. 21. Timing and workload The experts usually take two to five months to review, but there is no official time limit There’s no appeal Business plans are full of unproven assumptions
    22. 22. Guesses and estimates for acquisition, retention, transformations, etc. (You know the ones I’m talking about…)
    23. 23. In an innovation project, business plans are often off by orders of magnitudes.
    24. 24. Because reactions to novelty are unknown and uncertain by definition.
    25. 25. The first goal of the Lean startup approach is to reduce and manage uncertainty.
    26. 26. It can’t guarantee a 100 million dollars success. But it will prevent a 100 million dollars failure.
    27. 27. Capital efficiency: Focus on focusing
    28. 28. “The essence of strategy is about choosing what not to do.” Harvard business Review
    29. 29. We spend most of our time explaining the “WHAT” and “HOW” of our ideas. While most ideas spread because of the “WHY”.
    30. 30. “Why” gives your project a reason to exist. It must address a problem perceived as such by a precise category of people.
    31. 31. “ Focus on rich customers that you will delight with a compelling solution to a burning pain ” Sequoia Capital
    32. 32. You don’t just want an easy to sell product You want a product that customers crave.
    33. 33. “WHAT” is the solution you want to bring to the market to solve the problem The only objective of the “WHAT” is to be perceived as solving the problem. It’s the only thing that count.
    34. 34. The ”HOW” is of no importance as long you haven’t verified the first two.
    35. 35. For a startup, the only way to succeed is to manage to go from “plan A” to “a plan that works” before running out of resources. Ash Maurya
    36. 36. Fundamentals of Lean startup By Sébastien Deschaux, Director of innovation
    37. 37. Rule n°1 : We know nothing
    38. 38. Good innovation is like good science : Never assume : observe, hypothesize, experiment, measure and learn. We can only build on tested and verified knowledge
    39. 39. You need to validate leaps of faith, and measure value hypothesis and growth hypothesis.
    40. 40. The value hypothesis tests whether a product or service really delivers value to customers once they are using it.
    41. 41. The growth hypothesis tests how new customers will discover the product or service.
    42. 42. What’s a leap-of-faith assumptions ? It’s a fundamental condition needed for your vision to exist, usually a daring bet.
    43. 43. Example : Ostrich Pillow
    44. 44. Bet : Some people will accept to look (a bit) silly to gain a few minutes of sleep. 1) Are there ? (Vision) 2) Who are they ? How do I find them ? (Strategy) 3) Let’s ship pillows and improve (Product)
    45. 45. Rule n°2 : Value is providing benefit to the customer. Anything else is a waste.
    46. 46. First things first : There’s no point in developing, planning or strategizing something until you’ve proven that identified people dream of being able to buy it.
    47. 47. You don’t need a product to test a vision. Start building only when you’re sure of what people want.
    48. 48. Rule n°3 : Progress is about increasing validated learning : use innovation accounting.
    49. 49. A startup exists to learn how to build a sustainable business: This learning has to be continuously monitored through actionable, accessible and auditable metrics, not through vanity metrics. It may seems boring, but it’s crucial.
    50. 50. Actionable means that you have a crystal clear view between cause and effect. Anything less and your test doesn’t teach you anything.
    51. 51. Accessible means that tests results are internally available to all, and that they are justices of the peace in your organization.
    52. 52. Auditable means that anyone can have access to how the results were obtained. (Think Peer review in science.)
    53. 53. Rule n°4 : The startup is the product: Think business model
    54. 54. Providing value to the customers requires much more than a product or service : Value depends on every component of a business model. If you only explore only the product, you make implicit assumptions about the majority of these components. Your whole organization creates the value.
    55. 55. Auvalie’s Labs-to-Market program : Methodology By Sébastien Deschaux, Director of innovation
    56. 56. The big picture Optimization Pivot Leaps of faith
    57. 57. For a startup, the only way to succeed is to manage to go from “plan A” to “a plan that works” before running out of resources. Ash Maurya
    58. 58. Three stages approach : 1) Vision 2) Strategy* 3) Execution *: Remember, the startup itself is the product
    59. 59. Stage 1 : Vision (Finding the problem-market-solution fit) Ideate from concepts, assets, technologies, know-how, etc. Repeat Pick most promising unexplored idea Explore Value hypothesis Test assumptions for customers, problems and solutions Until Customers confirm Problems AND Solutions Tools : Creativity + Value proposition canvas + Validation board
    60. 60. Explorevalue
    61. 61. Testvalue
    62. 62. A meaningful experiment replicates real conditions (unlike market studies), and focuses on specific parameters
    63. 63. Experiments differ from one field to another. Here’s a few ideas from the web
    64. 64. Landing pages and conceptual videos will help you determining acquisition and referrals rates.
    65. 65. If you intend to ask for money, test payment rates from the start.
    66. 66. Stage 2 : Strategy (Building plan A) Explore several different business models and growth models Repeat Pick most promising unexplored business model Discover assumptions Test and validate assumptions Until business model is not proven faulty Tools : Business model canvas + Fake tests arsenal
    67. 67. Businessmodels exploration
    68. 68. Businessmodel assumptions
    69. 69. Businessmodel Validation
    70. 70. Stage 3 : Execution (Start with plan A, persevere or pivot on to the next plan) Setup minimal team Define Target values for Growth hypothesis and other metrics Build MVP Establish innovation accounting framework and Pivot committee Repeat Build, learn, measure Until Pivot is needed OR metrics reach target Tools : Innovation accounting framework + Lean management tools + pivot panels
    71. 71. Concierge tests1 and MVP2 will help you accurately measure retention in time, and understand what customers like (or not) about your product. 1: Manually simulating a usually automated service 2: Minimum Viable product
    72. 72. Execute
    73. 73. Pivotorpersevere
    74. 74. The Lean Startup approach helps you focus your resources to create a capital efficient organization.
    75. 75. What to say about your R&D ProjectFor a startup, there is no strategy without a great Product-Market Fit Then, the sky is the limit
    76. 76. Contact : Sébastien DESCHAUX Director of Innovation Tél : +33 (0)4 81 07 38 87 Mob : +33 (0)6 80 56 15 97 sebastien.deschaux@auvalie.com If you want more:
    77. 77. Startups Multinationals Institutions

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