Evidence-based Entrepreneurship by Steve Blank

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Evidence-based Entrepreneurship by Steve Blank

Steve Blank @sgblank Stanford / Berkeley / Columbia

The Lean Startup Conference 2013
http://leanstartup.co/

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Evidence-based Entrepreneurship by Steve Blank

  1. 1. Moneyball Evidence-Based Entrepreneurship & Investment Readiness Levels Steve Blank @sgblank www.steveblank.com
  2. 2. Lean Startup
  3. 3. Business Model Canvas Lean Startup
  4. 4. Business Model Canvas + Customer Development Lean Startup
  5. 5. Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  6. 6. Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  7. 7. Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  8. 8. Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  9. 9. Hypotheses Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  10. 10. Hypotheses Experiments Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  11. 11. Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  12. 12. Mentors Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  13. 13. 2,200 Teams Worldwide • NSF Innovation-Corps • 44 Universities Worldwide • 30 Accelerators/Incubators • Fortune 500 Companies
  14. 14. Training 300 Educators/Year • Lean LaunchPad Educators Seminar • Lean LaunchPad Incubator/Accelerator Seminar http://nciia.org/LLP
  15. 15. LaunchPad Central Software Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  16. 16. Weekly Data Progress Data Data LaunchPad Central Software Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  17. 17. Weekly Data Progress Data Data + Experiment Scorecard LaunchPad Central Software Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  18. 18. Weekly Data Progress Data Data + Experiment Scorecard = Data, Experiments, Trajectory, IRL LaunchPad Central Software Hypotheses Experiments Data Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad) Business Model Canvas + Customer Development Lean Startup + Agile Engineering
  19. 19. Data on Hypotheses, Pivots, MVPs, Metrics Evidence and Trajectory
  20. 20. Cohort Leaderboard
  21. 21. Customer Interviews
  22. 22. Hypotheses to Test
  23. 23. Invalidated Hypotheses
  24. 24. Weekly Canvas Updates
  25. 25. Track All Hypotheses Testing
  26. 26. Scorecard: 9 way Kanban Board with data
  27. 27. Advanced Data Mining
  28. 28. NASA
  29. 29. NASA/DOD Technology Readiness Level (TRL) • • • • Formal Way to assess project maturity Quantify Relative Risks Data Driven Adopted by NASA, DOD, FAA, ESA…
  30. 30. NASA/DOD Technology Readiness: Levels 1 & 2 Basic Technology Research • Basic principles observed • Technology concept formulated Concept
  31. 31. NASA/DOD Technology Readiness Levels 3 & 4 Research to prove Feasibility • Experimental proof of concept • Breadboard validation in lab Research Concept
  32. 32. NASA/DOD Technology Readiness Levels 5 & 6 Demo Prototype • Breadboard validation outside the building • System demo in real-world Demo Research Concept
  33. 33. NASA/DOD Technology Readiness Levels 7, 8, 9 Deployment • System Development • System deployed in real-world Demo Research Concept
  34. 34. What Can We Do With All This Data? The Investment Readiness Level
  35. 35. Investment Readiness Level
  36. 36. Investment Readiness Level We can do the same for new ventures
  37. 37. Investment Readiness Level We can do the same for new ventures Emphasis is on data
  38. 38. Investment Readiness Level • A Formal Way to Quantify Relative Risks • Data Driven • Analog to NASA/DOD Technology Readiness Level (TRL)
  39. 39. Investment Readiness: Levels 1 & 2 Hypotheses • Value Proposition summarized • Canvas hypotheses articulated Hypotheses
  40. 40. Investment Readiness: Levels 3 & 4 Problem / Solution Fit • Problem Solution fit • Low fidelity MVP Problem/Solution Hypotheses
  41. 41. Investment Readiness: Levels 5 & 6 Validate • Product/Market fit • Right side of canvas Product/Market fit Problem/Solution Hypotheses
  42. 42. Investment Readiness: Levels 7 & 8 Validate • Left side of canvas Product/Market fit Problem/Solution Hypotheses
  43. 43. Investment Readiness: Levels 9 Metrics That Matter Left side of the canvas Product/Market fit Problem/Solution Hypotheses
  44. 44. Technology Readiness Level Investment Readiness Level Metrics that Matter Validate Left side of Canvas Validate Right side of Canvas Product/Market Fit Problem/Solution Hypotheses
  45. 45. IRL Deployed …
  46. 46. “God is not on the side of the big arsenals, but on the side of those who shoot best.” Voltaire
  47. 47. For more info Incubator/Accelerator Class http://nciia.org/LLP www.steveblank.com @sgblank
  48. 48. Lesson Learned Presentations Tonight UCSF Mission Bay Byers Auditorium 5:30 – 7:30pm www.steveblank.com @sgblank

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