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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.

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

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Lean Startup 101 Lean Startup 101 Presentation Transcript

  • 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 & services…@HackerChick @EricRies
  • … 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 not a real market for”@HackerChick @EricRies
  • 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, "The Upside of Turbulence”)
  • Promise of the Lean Startup Instead of building our startups according to myths We can guide them with facts and knowledge@HackerChick @EricRies
  • 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 good@HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
  • @HackerChick
  • @HackerChick
  • @HackerChick
  • Minimum Viable Product (MVP) strategy for fast & quantitative market testing of a product or feature@HackerChick wikipedia
  • @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 clicked thru to it@HackerChick
  • 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
  • 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
  • @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 wikipedia
  • Brainstorm Customer Problem anyone who cooks can’t find recipes@HackerChick
  • Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family@HackerChick
  • 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
  • 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
  • @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 customer?@HackerChick @SGBlank
  • 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, Y Combinator
  • Learn More Eric Ries @EricRies http://startuplessonslearned.com/ Steve Blank @sgblank http://steveblank.com/ Ash Maurya @ashmaurya http://ashmaurya.com/ Abby Fichtner@HackerChick