Building products that solve human needs 101

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An introduction to validation methods for early stage startup ideas. Delivered to students from the National University of Singapore Overseas College program.

An introduction to validation methods for early stage startup ideas. Delivered to students from the National University of Singapore Overseas College program.

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  • 1. Building products that solve human needs Ryan Lou Founder, Krawst Tweet: @RyanLou
  • 2. US$40k Grant, No Equity.• Global network of people• Scalable ideas• Founders need to be skilled
  • 3. The creation of a US$1B company
  • 4. “Bringing the startupcommunity togetheroffline, getting user feedbackand generating buzz areexactly what NY’s techcommunity needs to do so itcan continue to grow andthrive. ” ~ Harrison Weber TNW editor, New York office
  • 5. “There is no betterfeedback in the worldthan hearing right fromyour target” Jared O’Toole Under30ceo NYC editor
  • 6. Smart founders are successful?
  • 7. Smart founders are successful?
  • 8. Smart founders are successful?Hardworking founders are successful?
  • 9. Smart founders are successful?Hardworking founders are successful?
  • 10. Smart founders are successful?Hardworking founders are successful?Smart and hardworking founders aresuccessful?
  • 11. Smart founders are successful?Hardworking founders are successful?Smart and hardworking founders aresuccessful?
  • 12. Being a founder is very reactive.
  • 13. The basis of lean startupsLearning which activitiesin a startup creates value
  • 14. Just 3 things founders must do: • Build products • Talk to people • Work out See: http://www.foundersatwork.com/blog.html And we do that in an iterative “Build - Measure - Learn” loop.Refer to: http://lean.st/principles/build-measure-learn for notes on theprinciple and http://www.designstaff.org/articles/shortening-the-build-measure-learn-cycle-2012-02-06.html for how to create an action planthrough the BML
  • 15. Build - Measure - LearnRefer to: http://lean.st/principles/build-measure-learn for notes on the principleand http://www.designstaff.org/articles/shortening-the-build-measure-learn-cycle-2012-02-06.html for how to create an action plan through the BML
  • 16. Everything we thought we knew• Of course people have problems (problem hypothesis)• Sure, everyone will use it (customer hypothesis)• I’m smart, my product is exactly what the world needs (product validation)
  • 17. Combining photo sharing with Geo-cachinghttp://leanstartupmachine.com/2012/06/taking-on-a-market-leader-through-validated- http://leanstartupmachine.com/2012/06/taking-on-a-market-leader-through-learning/ validated-learning/
  • 18. Problem:Forming new social circles in a new place isdifficult.Customer:Students/Expats moving for at least 6 months.Product:City app to discover new people and things. Get the whole story at http://Go.Krawst.com
  • 19. Experiment #1: Register early usersLearn: which cities I can register enough earlyusers.Measure: Identify which cities have >150 usersBuild: Landing page targeted at 6 cities Get the whole story at http://Go.Krawst.com
  • 20. Get the whole story at http://Go.Krawst.com
  • 21. Experiment #2: Understand institutionsLearn: How to tap into existing institutionsMeasure: 3/10 favorable responsesBuild: Email offices that handle internationalstudent affairs Get the whole story at http://Go.Krawst.com
  • 22. 3 ways to test• Problem exploration - talking to people.• Concierge service – Providing the service manually.• Product pitch – Sell it like it’s finished.
  • 23. Start with ameasurable customer hypothesis Then focus on themore critical ones first
  • 24. Ideas aren’t valuableExecution is what matters
  • 25. No idea where to start?You need these tools.
  • 26. Lean Startup Machine Validation Canvashttp://leanstartupmachine.com/validationboard/
  • 27. Created by @RyanLou for Startup Chile (email Ryan@Krawst.com)
  • 28. Other slideshttp://www.slideshare.net/ryanlou
  • 29. Best way to learn is to do it• BUT, these might help: – Udemy lean startup at sxsw (http://www.udemy.com/lean-startup-sxsw- 2012-videos-and-presentations/) – Eric ries’ blog (www.startuplessonslearned.com ) – Steve blank’s blog (www.steveblank.com ) – Ash Maurya (www.ashmaurya.com) – How to create a lean canvas (http://startit.rs/wp- content/uploads/LeanCanvas.pdf) – Lean canvas online (http://leancanvas.com/) – What is Lean UX (http://uxdesign.smashingmagazine.com/2011/03/07/lean-ux-getting- out-of-the-deliverables-business/) – We got it wrong, learn-measure-build (http://grasshopperherder.com/build-measure-learn-vs-learn-measure- build/)
  • 30. Building products that solve human needs Ryan Lou Founder, Krawst Tweet: @RyanLou