Lean Startup 101                Abby Fichtner         Harvard Innovation Lab                  http://HackerChick.com
“Considering the incredible amount of human energy, passion,and creativity that we invest in creating new products & servi...
… it’s a terrible waste that so many of them fail.”@HackerChick                                            @EricRies
9 out of 10        new products                     fail@HackerChick
“Most start-ups fail not because the technologydoesn’t work, but because they’re making something         that there is no...
Single Biggest Predictor of Failure?@HackerChick   300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)
Single Biggest Predictor of Failure?Sticking to Initial Business Plan@HackerChick   300 startups surveyed (src: Don Sull, ...
Promise of the Lean Startup  Instead of building our startups according to myths  We can guide them with facts and knowled...
Startups are NOT small versions         of large organizations@HackerChick
@HackerChick
The unit of progress for entrepreneurs…        learning               not                     execution@HackerChick
validate               before                  building@HackerChick
@HackerChick
@HackerChick
@HackerChick
@HackerChick   Andrew Mason, CEO of Groupon (NY Tech Meetup)
you‘re way too                                dumb   to figure out whether your               idea   is                   ...
@HackerChick
@HackerChick
@HackerChick
Minimum Viable Product (MVP)  strategy for fast & quantitative  market testing of a product or feature@HackerChick        ...
@HackerChick
Step #1a       Find a               problem                     worth solving@HackerChick
We had an idea for a new product.        We went off & built it, put it on our website.@HackerChick
We had an idea for a new product.        We went off & built it, put it on our website.               Not a single person ...
We had an idea for a new product.        We went off & built it, put it on our website.               Not a single person ...
We had an idea for a new product.        We went off & built it, put it on our website.               Not a single person ...
@HackerChick
@HackerChick
@HackerChick
@HackerChick
@HackerChick
Step #1b               Know your                   customer@HackerChick
@HackerChick
It’s just as important to develop your  customers as it is to develop your product@HackerChick                            ...
Brainstorm     Customer           Problem     anyone who cooks   can’t find recipes@HackerChick
Brainstorm     Customer                Problem     anyone who cooks        can’t find recipes     amateur gourmet chefs   ...
Brainstorm     Customer                Problem     anyone who cooks        can’t find recipes     amateur gourmet chefs   ...
Brainstorm     Customer                Problem     anyone who cooks        can’t find recipes     amateur gourmet chefs   ...
@HackerChick
@HackerChick
@HackerChick
Xcelerate - @HackerChick
Customer DiscoveryWhat is the problem?Who has the problem?@HackerChick           @SGBlank
Customer DiscoveryHow important is the problem’s solution to the customer?How valuable is the problem’s solution to the cu...
Step #2       Find a               solution                      that resonates@HackerChick
Concierge Service                (AKA Wizard of Oz)@HackerChick@HackerChick
@HackerChick
@HackerChick
Step #3…n-1@HackerChick
Customer Validation@HackerChick
Step #n               launch!               when you have a     quantum of utility@HackerChick                     @paulg,...
Learn More               Eric Ries               @EricRies               http://startuplessonslearned.com/               S...
Lean Startup 101
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Lean Startup 101

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Here's my (new) 30 minute introduction to Lean Startup that I just presented at Northeastern's Husky Startup Challenge.

Published in: Technology

Lean Startup 101

  1. 1. Lean Startup 101 Abby Fichtner Harvard Innovation Lab http://HackerChick.com
  2. 2. “Considering the incredible amount of human energy, passion,and creativity that we invest in creating new products & services…@HackerChick @EricRies
  3. 3. … it’s a terrible waste that so many of them fail.”@HackerChick @EricRies
  4. 4. 9 out of 10 new products fail@HackerChick
  5. 5. “Most start-ups fail not because the technologydoesn’t work, but because they’re making something that there is not a real market for”@HackerChick @EricRies
  6. 6. Single Biggest Predictor of Failure?@HackerChick 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)
  7. 7. Single Biggest Predictor of Failure?Sticking to Initial Business Plan@HackerChick 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)
  8. 8. Promise of the Lean Startup Instead of building our startups according to myths We can guide them with facts and knowledge@HackerChick @EricRies
  9. 9. Startups are NOT small versions of large organizations@HackerChick
  10. 10. @HackerChick
  11. 11. The unit of progress for entrepreneurs… learning not execution@HackerChick
  12. 12. validate before building@HackerChick
  13. 13. @HackerChick
  14. 14. @HackerChick
  15. 15. @HackerChick
  16. 16. @HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
  17. 17. you‘re way too dumb to figure out whether your idea is good@HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
  18. 18. @HackerChick
  19. 19. @HackerChick
  20. 20. @HackerChick
  21. 21. Minimum Viable Product (MVP) strategy for fast & quantitative market testing of a product or feature@HackerChick wikipedia
  22. 22. @HackerChick
  23. 23. Step #1a Find a problem worth solving@HackerChick
  24. 24. We had an idea for a new product. We went off & built it, put it on our website.@HackerChick
  25. 25. We had an idea for a new product. We went off & built it, put it on our website. Not a single person clicked thru to it@HackerChick
  26. 26. We had an idea for a new product. We went off & built it, put it on our website. Not a single person clicked thru to it What did we learn from that?@HackerChick
  27. 27. We had an idea for a new product. We went off & built it, put it on our website. Not a single person clicked thru to it Was there a faster way to get through that learning loop?@HackerChick
  28. 28. @HackerChick
  29. 29. @HackerChick
  30. 30. @HackerChick
  31. 31. @HackerChick
  32. 32. @HackerChick
  33. 33. Step #1b Know your customer@HackerChick
  34. 34. @HackerChick
  35. 35. It’s just as important to develop your customers as it is to develop your product@HackerChick wikipedia
  36. 36. Brainstorm Customer Problem anyone who cooks can’t find recipes@HackerChick
  37. 37. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family@HackerChick
  38. 38. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family dieters need to lose weight@HackerChick
  39. 39. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family in college dieters ^ need to lose weight@HackerChick
  40. 40. @HackerChick
  41. 41. @HackerChick
  42. 42. @HackerChick
  43. 43. Xcelerate - @HackerChick
  44. 44. Customer DiscoveryWhat is the problem?Who has the problem?@HackerChick @SGBlank
  45. 45. Customer DiscoveryHow important is the problem’s solution to the customer?How valuable is the problem’s solution to the customer?@HackerChick @SGBlank
  46. 46. Step #2 Find a solution that resonates@HackerChick
  47. 47. Concierge Service (AKA Wizard of Oz)@HackerChick@HackerChick
  48. 48. @HackerChick
  49. 49. @HackerChick
  50. 50. Step #3…n-1@HackerChick
  51. 51. Customer Validation@HackerChick
  52. 52. Step #n launch! when you have a quantum of utility@HackerChick @paulg, Y Combinator
  53. 53. Learn More Eric Ries @EricRies http://startuplessonslearned.com/ Steve Blank @sgblank http://steveblank.com/ Ash Maurya @ashmaurya http://ashmaurya.com/ Abby Fichtner@HackerChick

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