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INNOVATION
ACCOUNTING
Hashtag: #runninglean
ASH MAURYA

@ashmaurya

ash@spark59.com
PracticeTrumpsTheory.com
Breakthrough ideas evolve from
seemingly small and often unintended
discoveries.
The Lean Startup
IDEAS

LEARN

BUILD

DATA

PRODUCT

MEASURE
But crafting effective experiments is hard.
START
CEILING OF ACHIEVEMENT
1

START

1. Disappointment
!
CEILING OF ACHIEVEMENT
1
2

START

1. Disappointment
!
2. Resignation
CEILING OF ACHIEVEMENT
1
2
3

START

1. Disappointment
!
2. Resignation

3. Pivot
!
A pivot not grounded in learning is a
disguised “see what sticks” strategy.
CEILING OF ACHIEVEMENT
1

4
2
3

START

1. Disappointment
!
2. Resignation

3. Pivot
!
4. The cycle repeats
Demystify the art from the science.
CEILING OF ACHIEVEMENT

START
AGENDA
Part 1 Your Business Model as a System
Part 2 The Art of the Scientist
Part 3 Putting it to Practice
About Me
Life’s too short to build something
nobody wants.
“If you can’t describe what you are doing
as a process, you don’t know what you
are doing.”
!

- Edward Deming
Epiphany 1:

Your business model is the product.
Document your Plan A
Document your Plan A

Identify the riskiest parts
of your plan
Document your Plan A

Identify the riskiest parts
of your plan

Systematically test
your plan
Document your Plan A

Identify the riskiest parts
of your plan

Systematically test
your plan
Document your Plan A

Identify the riskiest parts
of your plan

Systematically test
your plan
Easy to understand, hard to put to practice.
Epiphany 2:

Everyone is in the manufacturing
business.
The Customer Factory
Happy customers get you paid and doing this
repeatedly and efficiently is the goal of every
business.
t?
a
h

w
o
S

The Customer Factory
Lean Thinking:
!

Continuous improvement through
elimination of waste in the customer
value stream.
“Organizations live or die as systems
not as processes.”
!

- Goldratt, The Goal
Theory of Constraints:
!

Every business is a system of
interconnected processes with a
single constraint.
Lean tells you what and how to improve.
TOC tells you where to improve.
Right Action, Right Time:
!

At any given point, there are only a few
key actions that matter.
!

Focus on those and ignor...
The most important thing
scientists do.
(Hint: It’s not running experiments)
First and foremost, scientists build models.
First and foremost, scientists build models.
They then run experiments to validate those
models.
Entrepreneurs need models too.
Entrepreneurs need models too.
(This idea isn’t without resistance)
Objection 1:

Business planning is a waste of time.
Business Model versus Business Plan
A document investors make you
write that they don’t read
Problem
!

Solution
!

Top 3 problems

Top 3 features

Key Metrics
!
Key activities you
measure

Unique Value
Proposition
...
Objection 2:

Customer behavior is too complex to model.
“...these irrational behaviors are neither
random nor senseless - they are
systematic and predictable.”
!

- Dan Ariely, P...
2%
2%

Groundhog Day Effect
Objection 3:

Every business is different.
“Happy families are all alike; every
unhappy family is unhappy in its own
way.”
!

- Tolstoy, Anna Karenina
The Goal:

Sustainably deliver and capture customer value.
AGENDA
Part 1 Your Business Model as a System
Part 2 The Art of the Scientist
Part 3 Putting it to Practice
Happy customers get you paid and doing this
repeatedly and efficiently is the goal of every
business.
Entrepreneurs build systems to
manufacture happy customers.
The Happy Customer Manufacturing Process

Unaware visitor

ACQUISITION
ACTIVATION
RETENTION
REVENUE

Passionate Happy Cust...
Acquisition
Acquisition

Activation
Revenue

Acquisition

Activation
Retention

Revenue

Acquisition

Activation
Retention

Revenue

Acquisition

Activation

Referral
Macro versus Micro
Startups don’t starve,
they drown.
!

-Shawn Carolan, Menlo Ventures
Macro versus Micro
Critical for learning
Financial accounting

Innovation Accounting
Macro versus Micro
Good for troubleshooting
Applying systems thinking
3 Stages of a Product

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3
3 Stages of a Product

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Do I have a problem worth solving?
!
!

!
!

!

!

!

!

!

!
!
!

Solution

!
!

!

!

!

!

!

!
Problem

!

?
!

Solution

!

!

!

!

!
The Promise
Problem

!
!

Unique Value
Proposition

!

!

?
!

Solution

!

!

!
The Promise
Problem

!
!

?

Solution

!

!

Unique Value
Proposition

!

!

Customer
Segments

!

!

Identity
!
The Promise
Problem

!
!

Solution

Unique Value
Proposition

!

!

?

!

Customer
Segments

!

!

Identity
!

Revenue Str...
The Promise
Problem

!
!

Solution

Unique Value
Proposition

!

!

?

!

Customer
Segments

!

!

Identity
!

Revenue Str...
THE OFFER
UVP
DEMO

UVP
DEMO

UVP

PRICING
THE OFFER

THE MVP
An MVP is the smallest solution that
delivers customer value.
An MVP is the
delivers customer value
(BONUS: And captures customer value.)
3 Stages of a Product

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Have I built something people want?
Deliver value before growth.
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
3 Stages of a Product

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

How do I accelerate growth?

SCALE
Identify your primary engine of growth.
Growth Metrics
Retention

Revenue

Acquisition

Activation

Referral
Growth Metrics
Retention

PAID

Revenue

Acquisition

Activation

Referral
Growth Metrics
STICKY
Retention

PAID

Revenue

Acquisition

Activation

Referral
Growth Metrics
STICKY
Retention

PAID

Revenue

Acquisition

Activation

Referral

VIRAL
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

How do you measure success at each stage?
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

Problem/Solution Fit Questions
1. How many int...
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

Product/Market Fit Questions
1. What is Produc...
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

Scaling Questions
1. What is the best growth s...
01 Each stage is a system. Repeatability is key.

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage...
02 Each stage is a smaller scale version of the

next stage.
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Sta...
03 Each stage has a clearly defined success

metric.
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

St...
Putting it to practice
(Lean Stack)
“The mistake other people make is that
they simply copy our tools and process
and expect similar results.”
!

- Jeffrey Li...
What is Lean Stack?
1. Lean Canvas
2. Lean Dashboard
3. Experiment Reports
What is Lean Stack?
1. Lean Canvas
2. Lean Dashboard
3. Experiment Reports
WHY
What is Lean Stack?
1. Lean Canvas
2. Lean Dashboard
3. Experiment Reports
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
What is Lean Stack?
1. Lean Canvas
2. Lean Dashboard
3. Experiment Reports
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!

Created:
[DATE]

Results

What are you trying to lea...
Access Code: LEANSTARTUP
EXERCISE 1

MODEL YOUR BUSINESS
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
If you don’t know where you are going,
any road will get you there.
!

- Lewis Carroll, Alice in Wonderland
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
Iterated

How I Wrote My Book

USERCYCLE
CASE-STUDY
Teaser
Page
Blog

Time
PROBLEM

!

!

!

!

CUSTOMER SEGMENTS

!

1. Hard to measure real progress.!
2. Drown in a sea of numbers.!

Software Com...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
Each stage is a smaller scale version of the next stage.

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage ...
Hockey-stick curve
Scale

Product/Market Fit
Problem/Solution Fit

Hockey-stick curve
Scale

Product/Market Fit
Problem/Solution Fit

Hockey-stick curve

10x
Document your Plan A

Identify the riskiest parts
of your plan

Systematically test
your plan
Document your Plan A

Identify the riskiest parts
of your plan

Systematically test
your plan
PROSPECTS / USERS
Stage 1

100

Stage 2

1,000

Stage 3

10,000

CUSTOMERS
10

High-touch, Market Risk,
Qualitative

100
1...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
Problem/Solution Fit
as a System
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

Problem/Solution Fit Questions
1. How many int...
PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

Expert advice
1. Don’t lead prospects.
2. List...
Focus on the macro
THE OFFER
DEMO

UVP

PRICING
DEMO

UVP

CUSTOMER
SEGMENT

PROBLEM

PRICING
Research versus Interviews
Hypotheses generation

Hypotheses validation
THE MAFIA OFFER
A
C

E
S

T
S
-

Y
D
U
The Goal:

You are done when you can create “ready”
customers at a 80% production rate.
80%
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE SMOKE TEST OFFER
A
C

E
S

T
S
-

Y
D
U
The Goal:

You are done when you can demonstrate
“sufficient” interest-based market demand.

>X customers
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE PRE-ORDER OFFER
A
C

E
S

T
S
-

Y
D
U
The Goal:

You are done when you can raise “sufficient”
funds from customers .
> $X
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE MAFIA OFFER

THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
!

Identify your next significant key objective:
!
!

Identify your next significant key objective:
!

- Less than 3 months
!

Identify your next significant key objective:
!

- Less than 3 months
- Customer based
!

Identify your next significant key objective:
!

- Less than 3 months
- Customer based
- Measurable
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

SCALE

Stage 1

Time

PRODUCT/MARKET
FIT

Stage 2

Stage 3
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

X weeks

Time

Y months...
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

X weeks

Time
3 month o...
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

X weeks

Y months

Time...
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

X weeks

Y months

Time...
3 Stages of a Startup

PROBLEM/SOLUTION
FIT

PRODUCT/MARKET
FIT

SCALE

Stage 1

Stage 2

Stage 3

X weeks

Y months

Time...
Iterated

How I Wrote My Book

Product
Case-studies
Teaser
Page
Blog

Time
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE MAFIA OFFER

THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
THE MAFIA OFFER

THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE MAFIA OFFER

THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
THE MAFIA OFFER

THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
+
THE MAFIA OFFER

+
THE SMOKE TEST OFFER

THE PRE-ORDER OFFER
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
Experiment like a scientist
What is an Experiment?
01 Experiments aren’t standalone but additive.
02 Expected outcomes need to be declared

upfront.
“If you simply plan on seeing what
happens, you will always succeed at
seeing what happens.”
!

- Eric Ries, The Lean Star...
Reasonably smart people can rationalize
anything but entrepreneurs are especially
gifted at this.
!

1. They hate to be proven wrong.
!
!

1. They hate to be proven wrong.
!

2. They don’t have enough information to make
these predictions.
03 Expected outcomes need to be falsifiable.
Too Vague:
Being known as an “expert” will drive early adopters
!
Too Vague:
Being known as an “expert” will drive early adopters
!

Specific and Testable:
Blog post will drive >100 early ...
Falsifiable Hypothesis

Specific Repeatable Action will drive Expected Measurable Outcome
!
!

e.g. Blog post will drive >...
04 Experiments need to be time-boxed.
05 Breakthrough insights are usually hidden

within failed experiments.
A pivot not grounded in learning is a
disguised “see what sticks” strategy.
“There is no such thing as a failed
experiment- only unexpected outcomes. ”
!

- Buckminster Fuller
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

B 	


Crea...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

Created:
[...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

B 	


Fals...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

B 	


Fals...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

B 	


Background!
What are you trying to learn or achieve?!

Fals...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

B 	


Fals...
Back

EXPERIMENT REPORT

Author:
[NAME]

Title: [TITLE]

Background!
What are you trying to learn or achieve?!

B 	


Fals...
SUCCESS METRICS
PROBLEM/SOLUTION FIT
How will you determine if this is a
problem worth solving?!
What is your early valida...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

SCALE

How will you determine if you have
built something enough p...
SUCCESS METRICS

CURRENT METRICS

PROBLEM/SOLUTION FIT

How is your customer funnel
performing?!
Identify your current sta...
Communicate Progress
The Curse of the
Specialist
Establish a regular reporting cadence.
Daily standup

Tasks

Time
Daily standup

Tasks

Weekly standup

Experiment 	

Report

Time

Experiment 	

Report

Experiment 	

Report

Experiment 	...
Daily standup

Tasks

Weekly standup

Experiment 	

Report

Experiment 	

Report

Experiment 	

Report

Experiment 	

Repo...
Get the Workshop Kit
What You Get:
!

1. Slides
2. Running Lean Book
3. Customer Factory Book (when published)
4. Tools Ac...
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
Value Metrics
Retention

Revenue

Acquisition

Activation

Referral
Growth Metrics
Retention

Revenue

Acquisition

Activation

Referral
Growth Metrics
Retention

PAID

Revenue

Acquisition

Activation

Referral
How do you pick just a single
engine of growth?
What’s stopping your business
from growing 10X?
!

-David Skok
One-time product
Baseline
metrics

Consider viral engine
of growth

Yes

No
Is Viral?

Consider paid engine
of growth
Recurring product
Baseline
Metrics

Consider viral
engine of growth

Is Viral?

Yes
No

LTV > COCA?
Yes
No
Consider sticky...
Sticky

Paid
High
margins

LTV > COCA

Viral
Growth Metrics
STICKY
Retention

Revenue

Acquisition

Activation

Referral
Sticky

Paid

Viral

High
retention

Customer Acquisition Rate > Churn Rate
Growth Metrics
Retention

Revenue

Acquisition

Activation

Referral

VIRAL
Sticky

Paid

Viral
High repeat
referral

Viral coefficient > 1.0
High referral rate is not the same
as viral.
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
Innovation Accounting by Ash Maurya
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Innovation Accounting by Ash Maurya

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Transcript of "Innovation Accounting by Ash Maurya"

  1. 1. INNOVATION ACCOUNTING Hashtag: #runninglean ASH MAURYA @ashmaurya ash@spark59.com PracticeTrumpsTheory.com
  2. 2. Breakthrough ideas evolve from seemingly small and often unintended discoveries.
  3. 3. The Lean Startup IDEAS LEARN BUILD DATA PRODUCT MEASURE
  4. 4. But crafting effective experiments is hard.
  5. 5. START
  6. 6. CEILING OF ACHIEVEMENT 1 START 1. Disappointment !
  7. 7. CEILING OF ACHIEVEMENT 1 2 START 1. Disappointment ! 2. Resignation
  8. 8. CEILING OF ACHIEVEMENT 1 2 3 START 1. Disappointment ! 2. Resignation 3. Pivot !
  9. 9. A pivot not grounded in learning is a disguised “see what sticks” strategy.
  10. 10. CEILING OF ACHIEVEMENT 1 4 2 3 START 1. Disappointment ! 2. Resignation 3. Pivot ! 4. The cycle repeats
  11. 11. Demystify the art from the science.
  12. 12. CEILING OF ACHIEVEMENT START
  13. 13. AGENDA Part 1 Your Business Model as a System Part 2 The Art of the Scientist Part 3 Putting it to Practice
  14. 14. About Me
  15. 15. Life’s too short to build something nobody wants.
  16. 16. “If you can’t describe what you are doing as a process, you don’t know what you are doing.” ! - Edward Deming
  17. 17. Epiphany 1: Your business model is the product.
  18. 18. Document your Plan A
  19. 19. Document your Plan A Identify the riskiest parts of your plan
  20. 20. Document your Plan A Identify the riskiest parts of your plan Systematically test your plan
  21. 21. Document your Plan A Identify the riskiest parts of your plan Systematically test your plan
  22. 22. Document your Plan A Identify the riskiest parts of your plan Systematically test your plan
  23. 23. Easy to understand, hard to put to practice.
  24. 24. Epiphany 2: Everyone is in the manufacturing business.
  25. 25. The Customer Factory
  26. 26. Happy customers get you paid and doing this repeatedly and efficiently is the goal of every business.
  27. 27. t? a h w o S The Customer Factory
  28. 28. Lean Thinking: ! Continuous improvement through elimination of waste in the customer value stream.
  29. 29. “Organizations live or die as systems not as processes.” ! - Goldratt, The Goal
  30. 30. Theory of Constraints: ! Every business is a system of interconnected processes with a single constraint.
  31. 31. Lean tells you what and how to improve. TOC tells you where to improve.
  32. 32. Right Action, Right Time: ! At any given point, there are only a few key actions that matter. ! Focus on those and ignore the rest.
  33. 33. The most important thing scientists do. (Hint: It’s not running experiments)
  34. 34. First and foremost, scientists build models.
  35. 35. First and foremost, scientists build models. They then run experiments to validate those models.
  36. 36. Entrepreneurs need models too.
  37. 37. Entrepreneurs need models too. (This idea isn’t without resistance)
  38. 38. Objection 1: Business planning is a waste of time.
  39. 39. Business Model versus Business Plan A document investors make you write that they don’t read
  40. 40. Problem ! Solution ! Top 3 problems Top 3 features Key Metrics ! Key activities you measure Unique Value Proposition ! Unfair Advantage Customer ! Segments Can’t be easily ! copied or bought Single, clear, compelling message that states why you are different and worth paying Channels attention Target customers ! Path to customers Cost Structure ! Revenue Streams ! Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Model Life Time Value Revenue Gross Margin PRODUCT MARKET Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
  41. 41. Objection 2: Customer behavior is too complex to model.
  42. 42. “...these irrational behaviors are neither random nor senseless - they are systematic and predictable.” ! - Dan Ariely, Predictably Irrational
  43. 43. 2%
  44. 44. 2% Groundhog Day Effect
  45. 45. Objection 3: Every business is different.
  46. 46. “Happy families are all alike; every unhappy family is unhappy in its own way.” ! - Tolstoy, Anna Karenina
  47. 47. The Goal: Sustainably deliver and capture customer value.
  48. 48. AGENDA Part 1 Your Business Model as a System Part 2 The Art of the Scientist Part 3 Putting it to Practice
  49. 49. Happy customers get you paid and doing this repeatedly and efficiently is the goal of every business.
  50. 50. Entrepreneurs build systems to manufacture happy customers.
  51. 51. The Happy Customer Manufacturing Process Unaware visitor ACQUISITION ACTIVATION RETENTION REVENUE Passionate Happy Customer REFERRAL
  52. 52. Acquisition
  53. 53. Acquisition Activation
  54. 54. Revenue Acquisition Activation
  55. 55. Retention Revenue Acquisition Activation
  56. 56. Retention Revenue Acquisition Activation Referral
  57. 57. Macro versus Micro
  58. 58. Startups don’t starve, they drown. ! -Shawn Carolan, Menlo Ventures
  59. 59. Macro versus Micro Critical for learning
  60. 60. Financial accounting Innovation Accounting
  61. 61. Macro versus Micro Good for troubleshooting
  62. 62. Applying systems thinking
  63. 63. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  64. 64. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Do I have a problem worth solving?
  65. 65. ! ! ! ! ! ! ! ! ! !
  66. 66. ! ! Solution ! ! ! ! ! ! ! !
  67. 67. Problem ! ? ! Solution ! ! ! ! !
  68. 68. The Promise Problem ! ! Unique Value Proposition ! ! ? ! Solution ! ! !
  69. 69. The Promise Problem ! ! ? Solution ! ! Unique Value Proposition ! ! Customer Segments ! ! Identity !
  70. 70. The Promise Problem ! ! Solution Unique Value Proposition ! ! ? ! Customer Segments ! ! Identity ! Revenue Streams Currency
  71. 71. The Promise Problem ! ! Solution Unique Value Proposition ! ! ? ! Customer Segments ! ! Identity ! Revenue Streams Currency
  72. 72. THE OFFER
  73. 73. UVP
  74. 74. DEMO UVP
  75. 75. DEMO UVP PRICING
  76. 76. THE OFFER THE MVP
  77. 77. An MVP is the smallest solution that delivers customer value.
  78. 78. An MVP is the delivers customer value (BONUS: And captures customer value.)
  79. 79. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Have I built something people want?
  80. 80. Deliver value before growth.
  81. 81. Value Metrics Retention Revenue Acquisition Activation Referral
  82. 82. Value Metrics Retention Revenue Acquisition Activation Referral
  83. 83. Value Metrics Retention Revenue Acquisition Activation Referral
  84. 84. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT How do I accelerate growth? SCALE
  85. 85. Identify your primary engine of growth.
  86. 86. Growth Metrics Retention Revenue Acquisition Activation Referral
  87. 87. Growth Metrics Retention PAID Revenue Acquisition Activation Referral
  88. 88. Growth Metrics STICKY Retention PAID Revenue Acquisition Activation Referral
  89. 89. Growth Metrics STICKY Retention PAID Revenue Acquisition Activation Referral VIRAL
  90. 90. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 How do you measure success at each stage?
  91. 91. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 Problem/Solution Fit Questions 1. How many interviews? 2. How should I score them? 3. When do I stop?
  92. 92. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 Product/Market Fit Questions 1. What is Product/Market Fit? 2. How do I measure it? 3. When do I transition to scaling?
  93. 93. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 Scaling Questions 1. What is the best growth strategy? 2. What key metrics do we optimize? 3. When are we done?
  94. 94. 01 Each stage is a system. Repeatability is key. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  95. 95. 02 Each stage is a smaller scale version of the next stage. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  96. 96. 03 Each stage has a clearly defined success metric. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  97. 97. Putting it to practice (Lean Stack)
  98. 98. “The mistake other people make is that they simply copy our tools and process and expect similar results.” ! - Jeffrey Liker, The Toyota Way
  99. 99. What is Lean Stack? 1. Lean Canvas 2. Lean Dashboard 3. Experiment Reports
  100. 100. What is Lean Stack? 1. Lean Canvas 2. Lean Dashboard 3. Experiment Reports
  101. 101. WHY
  102. 102. What is Lean Stack? 1. Lean Canvas 2. Lean Dashboard 3. Experiment Reports
  103. 103. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  104. 104. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? EXPERIMENTS How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. HOW KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  105. 105. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 EXPERIMENT QUEUE 1 2 3 5 EXPECTED 6 7 8 OUTCOMES Lean Dashboard 4 ACTUAL 15 13 14 OUTCOMES 16 Lean Stack by Spark59.com
  106. 106. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 EXPERIMENT QUEUE 1 2 3 5 EXPECTED 6 7 8 OUTCOMES Lean Dashboard 4 ACTUAL 15 13 14 OUTCOMES 16 Lean Stack by Spark59.com
  107. 107. What is Lean Stack? 1. Lean Canvas 2. Lean Dashboard 3. Experiment Reports
  108. 108. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  109. 109. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! Created: [DATE] Results What are you trying to learn or achieve?! Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! WHAT Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  110. 110. Access Code: LEANSTARTUP
  111. 111. EXERCISE 1 MODEL YOUR BUSINESS
  112. 112. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  113. 113. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. Milestones EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  114. 114. If you don’t know where you are going, any road will get you there. ! - Lewis Carroll, Alice in Wonderland
  115. 115. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  116. 116. Iterated How I Wrote My Book USERCYCLE CASE-STUDY Teaser Page Blog Time
  117. 117. PROBLEM ! ! ! ! CUSTOMER SEGMENTS ! 1. Hard to measure real progress.! 2. Drown in a sea of numbers.! Software Companies 3. Metrics can’t tell you why. EXISTING ALTERNATIVES ! KEY METRICS ! EARLY ADOPTERS $10M revenue / year SaaS products ! 1. Homegrown! with > 20 sign-ups/day 2. Analytics & CRM software ! REVENUE STREAMS ! $200/mo with 2 yr lifetime! ~ $5000 LTV USERcycle: Not More Numbers, But Actionable Metrics
  118. 118. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  119. 119. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? ? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS ? 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  120. 120. Each stage is a smaller scale version of the next stage. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  121. 121. Hockey-stick curve
  122. 122. Scale Product/Market Fit Problem/Solution Fit Hockey-stick curve
  123. 123. Scale Product/Market Fit Problem/Solution Fit Hockey-stick curve 10x
  124. 124. Document your Plan A Identify the riskiest parts of your plan Systematically test your plan
  125. 125. Document your Plan A Identify the riskiest parts of your plan Systematically test your plan
  126. 126. PROSPECTS / USERS Stage 1 100 Stage 2 1,000 Stage 3 10,000 CUSTOMERS 10 High-touch, Market Risk, Qualitative 100 1,000 10X Product Launch Self-serve, Technical Risk, Quantiative
  127. 127. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  128. 128. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS ? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  129. 129. Problem/Solution Fit as a System
  130. 130. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 Problem/Solution Fit Questions 1. How many interviews? 2. How should I score them? 3. When do I stop?
  131. 131. PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 Expert advice 1. Don’t lead prospects. 2. Listen to customers. 3. Avoid cognitive biases.
  132. 132. Focus on the macro
  133. 133. THE OFFER
  134. 134. DEMO UVP PRICING
  135. 135. DEMO UVP CUSTOMER SEGMENT PROBLEM PRICING
  136. 136. Research versus Interviews Hypotheses generation Hypotheses validation
  137. 137. THE MAFIA OFFER
  138. 138. A C E S T S - Y D U
  139. 139. The Goal: You are done when you can create “ready” customers at a 80% production rate. 80%
  140. 140. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  141. 141. THE SMOKE TEST OFFER
  142. 142. A C E S T S - Y D U
  143. 143. The Goal: You are done when you can demonstrate “sufficient” interest-based market demand. >X customers
  144. 144. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 2,000 LEADS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  145. 145. THE PRE-ORDER OFFER
  146. 146. A C E S T S - Y D U
  147. 147. The Goal: You are done when you can raise “sufficient” funds from customers . > $X
  148. 148. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? X BACKERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  149. 149. THE MAFIA OFFER THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  150. 150. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  151. 151. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  152. 152. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS Right Action, Right Time Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? BUILD MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  153. 153. ! Identify your next significant key objective: !
  154. 154. ! Identify your next significant key objective: ! - Less than 3 months
  155. 155. ! Identify your next significant key objective: ! - Less than 3 months - Customer based
  156. 156. ! Identify your next significant key objective: ! - Less than 3 months - Customer based - Measurable
  157. 157. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  158. 158. 3 Stages of a Startup PROBLEM/SOLUTION FIT SCALE Stage 1 Time PRODUCT/MARKET FIT Stage 2 Stage 3
  159. 159. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 X weeks Time Y months Z years
  160. 160. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 X weeks Time 3 month objective Y months Z years
  161. 161. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 X weeks Y months Time 3 month objective Z years
  162. 162. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 X weeks Y months Time 3 month objective Z years
  163. 163. 3 Stages of a Startup PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3 X weeks Y months Time 3 month objective Z years
  164. 164. Iterated How I Wrote My Book Product Case-studies Teaser Page Blog Time
  165. 165. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  166. 166. THE MAFIA OFFER THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  167. 167. THE MAFIA OFFER THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  168. 168. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  169. 169. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 20 CUSTOMERS @ 80% Close Rate 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  170. 170. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 20 CUSTOMERS @ 80% Close Rate 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 PROBLEM INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  171. 171. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 20 CUSTOMERS @ 80% Close Rate 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 40 PROBLEM SOLUTION INTERVIEWS INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  172. 172. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 20 CUSTOMERS @ 80% Close Rate 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 40 MARKETING PROBLEM SOLUTION WEBSITE INTERVIEWS INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  173. 173. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 20 CUSTOMERS @ $200/mo CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 20 CUSTOMERS @ 80% Close Rate 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 40 MARKETING PROBLEM SOLUTION WEBSITE INTERVIEWS INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  174. 174. THE MAFIA OFFER THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  175. 175. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 2,000 LEADS CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 2,000 LEADS @ 50% Conversion 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  176. 176. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 2,000 LEADS CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 2,000 LEADS @ 50% Conversion 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 PROBLEM INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  177. 177. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 2,000 LEADS CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 2,000 LEADS @ 50% Conversion 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 PROBLEM INTERVIEWS TEASER PAGE 2 3 4 5 6 7 8 1 Lean Dashboard Lean Stack by Spark59.com
  178. 178. THE MAFIA OFFER THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  179. 179. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 100 Backers @ $200 CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 8 WEEKS FROM NOW 2 3 4 5 100 Backers @ 20% Conversion 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  180. 180. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 100 Backers @ $200 CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 8 WEEKS FROM NOW 2 3 4 5 100 Backers @ 20% Conversion 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 20 PROBLEM INTERVIEWS 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  181. 181. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 100 Backers @ $200 CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 200 CUSTOMERS @ $200/mo 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS @ $200/mo 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 8 WEEKS FROM NOW 2 3 4 5 100 Backers @ 20% Conversion 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 20 KICK PROBLEM STARTER INTERVIEWS CAMPAIGN 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  182. 182. + THE MAFIA OFFER + THE SMOKE TEST OFFER THE PRE-ORDER OFFER
  183. 183. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? 100 CUSTOMERS @ $20 CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 1,000 CUSTOMERS @ $20 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 10,000 CUSTOMERS @ $20 9 MTHS FROM NOW 2 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? 100 CUSTOMERS @ $20 MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 8 WEEKS FROM NOW EXPERIMENT QUEUE 20 20 PROBLEM SOLUTION INTERVIEWS INTERVIEWS 1 2 5 6 TEASER PAGE PREORDER OPTION 7 8 3 Lean Dashboard 4 Lean Stack by Spark59.com
  184. 184. Experiment like a scientist
  185. 185. What is an Experiment?
  186. 186. 01 Experiments aren’t standalone but additive.
  187. 187. 02 Expected outcomes need to be declared upfront.
  188. 188. “If you simply plan on seeing what happens, you will always succeed at seeing what happens.” ! - Eric Ries, The Lean Startup
  189. 189. Reasonably smart people can rationalize anything but entrepreneurs are especially gifted at this.
  190. 190. ! 1. They hate to be proven wrong. !
  191. 191. ! 1. They hate to be proven wrong. ! 2. They don’t have enough information to make these predictions.
  192. 192. 03 Expected outcomes need to be falsifiable.
  193. 193. Too Vague: Being known as an “expert” will drive early adopters !
  194. 194. Too Vague: Being known as an “expert” will drive early adopters ! Specific and Testable: Blog post will drive >100 early sign-ups
  195. 195. Falsifiable Hypothesis Specific Repeatable Action will drive Expected Measurable Outcome ! ! e.g. Blog post will drive >100 early sign-ups
  196. 196. 04 Experiments need to be time-boxed.
  197. 197. 05 Breakthrough insights are usually hidden within failed experiments.
  198. 198. A pivot not grounded in learning is a disguised “see what sticks” strategy.
  199. 199. “There is no such thing as a failed experiment- only unexpected outcomes. ” ! - Buckminster Fuller
  200. 200. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 3 4 6 7 8 9 10 11 12 13 14 15 16 Running Experiments 1 2 3 4 5 6 7 8 Lean Dashboard 2 5 EXPERIMENT QUEUE 1 Lean Stack by Spark59.com
  201. 201. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 80% CLOSE RATE SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  202. 202. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  203. 203. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! B Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! U I Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? L D Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  204. 204. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! ! What are you trying to achieve? Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  205. 205. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! ! Declare your expected outcomes Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  206. 206. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! ! How will you setup this experiment? Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  207. 207. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! Created: [DATE] Results Enter your qualitative/quantitative data.! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! ! How long will this experiment run? Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  208. 208. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 80% CLOSE RATE SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  209. 209. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! B Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! U I Created: [DATE] Results Enter your qualitative/quantitative data.! MEASURE Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? L D Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  210. 210. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 80% CLOSE RATE SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  211. 211. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! B Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! U I Created: [DATE] Results Enter your qualitative/quantitative data.! MEASURE Validated Learning [VALIDATED or INVALIDATED] Summarize your learning from the experiment. Details! How will you setup this experiment? L D LEARN Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  212. 212. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] B Background! What are you trying to learn or achieve?! Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! ! U I Created: [DATE] Results Enter your qualitative/quantitative data.! MEASURE Validated Learning Summarize your learning from the experiment. Validated What is the next experiment to run? Details! How will you setup this experiment? L D LEARN Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  213. 213. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! B Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! U I Created: [DATE] Results Enter your qualitative/quantitative data.! MEASURE Validated Learning Summarize your learning from the experiment. Invalidated Details! How will you setup this experiment? L D LEARN Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  214. 214. Back EXPERIMENT REPORT Author: [NAME] Title: [TITLE] Background! What are you trying to learn or achieve?! B Falsifiable Hypotheses Declare your expected outcome. ! ! Use this format: 
 [Specific Repeatable Action] will [Expected Measurable Outcome]! U I Why did the experiment fail? - 5 Whys root cause analysis What is the next experiment? Created: [DATE] Results Enter your qualitative/quantitative data.! MEASURE Validated Learning Summarize your learning from the experiment. Invalidated Details! How will you setup this experiment? L D LEARN Next Action! What’s the next experiment?! Lean Stack by Spark59.com
  215. 215. SUCCESS METRICS PROBLEM/SOLUTION FIT How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? CURRENT METRICS PRODUCT/MARKET FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE Actual Progress COMPLETED EXPERIMENTS LEARN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  216. 216. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN EXPERIMENT TITLE 80% CLOSE RATE 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 JUL 25 SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  217. 217. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW REVENUE ACQUISITION ACTIVATION 2 20% 100 100% 10 10% REFERRAL 5 50% 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN EXPERIMENT TITLE 80% CLOSE RATE 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 JUL 25 SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  218. 218. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW REVENUE ACQUISITION ACTIVATION 2 20% 100 100% 10 10% REFERRAL 5 50% 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN EXPERIMENT TITLE 80% CLOSE RATE 1 2 3 4 5 EXPERIMENT TITLE 6 7 8 9 10 11 12 13 14 15 16 JUL 25 SEP 1 EXPERIMENT QUEUE EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 3 4 5 6 7 8 Lean Dashboard Lean Stack by Spark59.com
  219. 219. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. 2,000 CUSTOMERS 1.5 YEARS FROM NOW REVENUE ACQUISITION RETENTION ACTIVATION 400 50% 200 50% 800 80% REFERRAL 1,000 100% 200 25% 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? MEASURE COMPLETED EXPERIMENTS LEARN EXPERIMENT TITLE EXPERIMENT TITLE 1 2 EXPERIMENT TITLE 3 EXPERIMENT TITLE 4 $20,000 MRR EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 5 OCT 1 6 7 8 9 10 11 12 13 14 15 16 EXPERIMENT QUEUE EXPERIMENT TITLE 1 EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 2 3 4 6 7 8 EXPERIMENT TITLE 5 Lean Dashboard Lean Stack by Spark59.com
  220. 220. SUCCESS METRICS CURRENT METRICS PROBLEM/SOLUTION FIT How is your customer funnel performing?! Identify your current stage.! List out customer lifecycle (AARRR) metrics. SCALE How will you determine if you have built something enough people want?! What is your revenue goal?! How many customers does that represent?! By when? How will you determine if this is a problem worth solving?! What is your early validation criteria?! How many customers does that represent?! By when? PRODUCT/MARKET FIT How will scale your business model?! What is your engine of growth?! What is your revenue goal?! How many customers does that represent?! By when? 20 CUSTOMERS 200 CUSTOMERS 8 WEEKS FROM NOW REVENUE ACQUISITION ACTIVATION 400 50% 200 50% 800 80% REFERRAL 1,000 100% 2,000 CUSTOMERS 1.5 YEARS FROM NOW RETENTION 200 25% 3 YEARS FROM NOW EXPERIMENTS KEY OBJECTIVE ACTIVE EXPERIMENTS BUILD Determine right action, right time.! What are your riskiest assumptions or leaps of faiths?! What is your next significant goal?! How will you get there?! By when? EXPERIMENT TITLE $20,000 MRR AUG MEASURE EXPERIMENT TITLE JUL 30 COMPLETED EXPERIMENTS LEARN EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 1 2 EXPERIMENT TITLE AUG EXPERIMENT QUEUE EXPERIMENT TITLE 1 EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 2 3 4 6 7 8 EXPERIMENT TITLE 5 Lean Dashboard EXPERIMENT TITLE EXPERIMENT TITLE 3 EXPERIMENT TITLE 4 JUL 27 EXPERIMENT TITLE OCT 1 EXPERIMENT TITLE EXPERIMENT TITLE EXPERIMENT TITLE 5 6 7 8 9 10 11 12 13 14 15 16 AUG 3 AUG Lean Stack by Spark59.com
  221. 221. Communicate Progress
  222. 222. The Curse of the Specialist
  223. 223. Establish a regular reporting cadence.
  224. 224. Daily standup Tasks Time
  225. 225. Daily standup Tasks Weekly standup Experiment Report Time Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report
  226. 226. Daily standup Tasks Weekly standup Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report Experiment Report Monthly standup Progress Report Time Progress Report Experiment Report
  227. 227. Get the Workshop Kit What You Get: ! 1. Slides 2. Running Lean Book 3. Customer Factory Book (when published) 4. Tools Access 5. 30-minute chat with Ash Maurya 6. Additional Video Content URL: http://PracticeTrumpsTheory.com/workshop-access Password: RL-2013 Ash Maurya | ashmaurya.com | spark59.com |@ashmaurya Life’s too short to build something nobody wants.
  228. 228. Value Metrics Retention Revenue Acquisition Activation Referral
  229. 229. Value Metrics Retention Revenue Acquisition Activation Referral
  230. 230. Value Metrics Retention Revenue Acquisition Activation Referral
  231. 231. Growth Metrics Retention Revenue Acquisition Activation Referral
  232. 232. Growth Metrics Retention PAID Revenue Acquisition Activation Referral
  233. 233. How do you pick just a single engine of growth?
  234. 234. What’s stopping your business from growing 10X? ! -David Skok
  235. 235. One-time product Baseline metrics Consider viral engine of growth Yes No Is Viral? Consider paid engine of growth
  236. 236. Recurring product Baseline Metrics Consider viral engine of growth Is Viral? Yes No LTV > COCA? Yes No Consider sticky engine of growth Consider paid engine of growth
  237. 237. Sticky Paid High margins LTV > COCA Viral
  238. 238. Growth Metrics STICKY Retention Revenue Acquisition Activation Referral
  239. 239. Sticky Paid Viral High retention Customer Acquisition Rate > Churn Rate
  240. 240. Growth Metrics Retention Revenue Acquisition Activation Referral VIRAL
  241. 241. Sticky Paid Viral High repeat referral Viral coefficient > 1.0
  242. 242. High referral rate is not the same as viral.
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