NYU ITP Lean LaunchPad 4.7.2014
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NYU ITP Lean LaunchPad 4.7.2014

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NYU Lean LaunchPad - Customer validation

NYU Lean LaunchPad - Customer validation

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NYU ITP Lean LaunchPad 4.7.2014 NYU ITP Lean LaunchPad 4.7.2014 Presentation Transcript

  • Class 9 / 12 April 7, 2014 Jen van der Meer | jd1159 at nyu dot edu Josh Knowles | chasing at spaceship dot com LEAN LAUNCHPAD AT NYU ITP Rockets Sketches borrowed from Harry Allen Design
  • 6:00 – 6:20: Prep for MVP and Lessons Learned 6:20 – 6:40 Drip.fm 6:40 – 6”50 Break 6:50 – 7:50 Teams present 8:00 Corie Hardee Little Borrowed Dress TODAY:
  • . WE ARE HERE 1/27 Business Models Customer Development UX Tools Intro 2/3 Value Proposition UX Tools, Frameworks 2/10 Customer Segments Research Tools 2/17 President’s Day 2/24 Revenue Streams Distribution Product Definition 3/3 Customer Relationships Partners, Product Development 3/10 Resources, Activities, Costs, Product Development 3/17 Spring Break 3/24 Customer Development Product Development 3/31 Customer Development Product Development 4/7 Customer Development Product Development 4/14 Customer Development Product Development 4/21 Product MVP 4/28 Lessons Learned
  • ALL OF US ARE PIVOTING
  • WHAT TO DO WITH INVALIDATED SEGMENTS, PROTOTYPES, OR DISPROVED HYPOTHES? 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
  • 6 WHAT CAME BEFORE STEVE AND ERIC
  • 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. _Major insights _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 your companies.
  • 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 movement. 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 Your names Team’s name 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? What happened?? 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 Customer Discovery Customer Creation Customer Validation Company Building 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? Iteration Execution
  • PRESENTATION OUTLINE: CUSTOMER VALIDATION Customer Discovery Customer Creation Customer Validation Company Building  Verify core features  Verify market’s existence  Locate customers  Tests the product’s perceived value and demand  Idenfity the economic buyer  Establish pricing and channel strategies  Check out proposed sales cycle and process ESCAPE VELOCITY Iteration Execution
  • 12 WHAT CAME BEFORE STEVE AND ERIC
  • APPENDIX
  • STUDENT TEAMS 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 ITP Pitchfest Alternative Monuments Julie Berkun Fajgenbaum @julieF Stern Adjunct Professor, Former VP Amex Open, now startup co-founder NYBL Michael Levitz @michael_levitz ITP grad, R/GA, Lean DiscoverED Sarah Krasley @sarahkrasley Autodesk, Sustainability, Berkeley For all Chris Milne @greedo1000 IDEO, Toy Lab, Stanford, LEGO Cognitive Toy Box