Class 9 / 12
April 7, 2014
Jen van der Meer | jd1159 at nyu dot edu
Josh Knowles | chasing at spaceship dot com
AT NYU ITP
Rockets Sketches borrowed from Harry Allen Design
6:00 – 6:20:
Prep for MVP and Lessons Learned
6:20 – 6:40
6:40 – 6”50
6:50 – 7:50
Corie Hardee Little Borrowed Dress
WE ARE HERE
UX Tools Intro
UX Tools, Frameworks
WHAT TO DO WITH INVALIDATED
SEGMENTS, PROTOTYPES, OR DISPROVED
Keep them in a “one day” file
You never know when cultural norms shift
Technology gets ever more present
Components dwindle down to zero cost
What will be possible, but isn’t possible now
LESSONS LEARNED DAY 4/28
Not a demo day. – No correlation between great PowerPoint or videos and a two minute
demo to building a successful business model.
Instead: we’ll have Learning Demos.
_Pivots from original business model assumptions
_Metrics that mattered
“Lessons Learned” day allows us to directly assess the ability of the team to learn, pivot
and move forward.
What your future business partners, investors, and employees will seek out as you grow
LESSONS LEARNED DAY: EXPECTATIONS
2 Minute Video
Why Video? Because Lean LaunchPad is an experiment beyond just ITP, it’s a
commitment to learn together, as an ecosystem across NYU, across all of the Lean
8 Minutes: presentation
- Use the updated business model canvas to show your journey
- Use diagrams of what was learned: customers, channels, etc.
- What have you validated, what are you still trying to validate
- Show what you learned in Customer Discovery
- Show what you learned as you moved forward to Customer Validation
- If you send us a week before, we can give you feedback
LESSONS LEARNED VIDEO: SUGGESTED OUTLINE
Show us where you “created” this idea, where you’ve been working on it
How many customers did you talk to?
Did you find this easy? Hard at first?
When you started the class, what was the most important thing you thought you would
have to do to successfully launch a scalable startup?
How do you feel about that now?
Thinking back across the class, who was the most interesting person you met and
where did you meet them?
Why, specifically, was this your most interesting customer conversation?
And how, specifically, did your business model change as a result?
Now that the class is over, what was the most surprising thing you learned in the class?
PRESENTATION OUTLINE: CUSTOMER DISCOVERY
What experiments did you run to test each hypothesis?
Did you find a market to fit your vision, with a large enough
addressable market to fit your aspirations?
PRESENTATION OUTLINE: CUSTOMER VALIDATION
Verify core features
Verify market’s existence
Tests the product’s perceived value
Idenfity the economic buyer
Establish pricing and channel
Check out proposed sales cycle
Team Name School
Cognitive Toy Box Lindsey Jones Stern
Tammy Kwan Stern
Hsiang Huang Stern
Alternative Monuments Rodrigo Derteano ITP
Maximo Sica ITP
Ajejandro Puentes ITP
Alon Chitayat ITP
NYBL Sam Slover ITP
Shilpan Bhagat ITP
Max Ma ITP
DiscoverEd Sergio Majluf ITP
Su Hyun Kim ITP
Christina Yugai Stern
Yuliya Parshina Kottas ITP
MENTORS + TEAMS
Tom Igoe @tigoe
ITP, Arduino, Making Things Talk, NYU
Julie Berkun Fajgenbaum @julieF
Stern Adjunct Professor, Former VP
Amex Open, now startup co-founder
Michael Levitz @michael_levitz
ITP grad, R/GA, Lean
Sarah Krasley @sarahkrasley
Autodesk, Sustainability, Berkeley
Chris Milne @greedo1000
IDEO, Toy Lab, Stanford, LEGO
Cognitive Toy Box