Running Lean - Dallas

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Running Lean - Dallas

  1. 1. RUNNING LEAN A systematic process for iterating your web application from Plan A to a plan that works ASH MAURYA @ashmaurya http://www.ashmaurya.com Thursday, November 4, 2010
  2. 2. The sad statistics of Plan A. Thursday, November 4, 2010
  3. 3. 9/10 startups fail Thursday, November 4, 2010
  4. 4. 66% drastically change their original plans Thursday, November 4, 2010
  5. 5. Not a better Plan A. But a path to a plan that works. Thursday, November 4, 2010
  6. 6. Running Lean is a systematic process for iterating from Plan A to a plan that works. Thursday, November 4, 2010
  7. 7. Agenda 1. What is Running Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
  8. 8. Agenda 1. What is Running Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
  9. 9. About Me Thursday, November 4, 2010
  10. 10. Practice Trumps Theory Thursday, November 4, 2010
  11. 11. What is Running Lean Customer Development + Lean Startup + Bootstrapping Thursday, November 4, 2010
  12. 12. Requirements ReleaseDevelopment QA Customer Development Thursday, November 4, 2010
  13. 13. Requirements ReleaseDevelopment QA Some learning Customer Development Thursday, November 4, 2010
  14. 14. Requirements ReleaseDevelopment QA Some learning Most learning happens here Customer Development Thursday, November 4, 2010
  15. 15. Requirements ReleaseDevelopment QA Some learning Very little learning Most learning happens here Customer Development Thursday, November 4, 2010
  16. 16. A synthesis of Customer Development, Agile, and Lean Thinking. Lean Startup Thursday, November 4, 2010
  17. 17. Funding with customer revenue. Bootstrapping Thursday, November 4, 2010
  18. 18. Startups that succeed are those that manage to iterate enough times before running out of resources. - Eric Ries Speed Thursday, November 4, 2010
  19. 19. Get out of the building. - Steve Blank Learning Thursday, November 4, 2010
  20. 20. Right Action, Right Time. - Bijoy Goswami Focus Thursday, November 4, 2010
  21. 21. Speed, Learning, Focus. Thursday, November 4, 2010
  22. 22. There are no silver bullets Thursday, November 4, 2010
  23. 23. Agenda 1. What is Running Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
  24. 24. 1. Document your Plan A 2. Systematically Test your Plan A Thursday, November 4, 2010
  25. 25. There is an “I” in Vision Smart people can rationalize anything. Thursday, November 4, 2010
  26. 26. Business Model vs Business Plan Thursday, November 4, 2010
  27. 27. Business Model vs Business Plan A document investors make you write that they don’t read Thursday, November 4, 2010
  28. 28. Business Model vs Business Plan A single diagram of your business Thursday, November 4, 2010
  29. 29. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
  30. 30. The 3 Stages of a Startup Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
  31. 31. Validate Problem/Solution Fit Problem/Solution Fit Product/Market Fit Scale Do I have a problem worth solving? Thursday, November 4, 2010
  32. 32. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
  33. 33. Achieve Product/Market Fit Have I built something people want? Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
  34. 34. Requirements ReleaseDevelopment QA Some learning Very little learning Most learning happens here Thursday, November 4, 2010
  35. 35. Requirements Release Customer Discovery Customer Validation Continuous Deployment Thursday, November 4, 2010
  36. 36. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/ revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
  37. 37. Optimize for Scale How do I accelerate growth? Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
  38. 38. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
  39. 39. Before Product/Market Fit Validated Learning Pivots Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
  40. 40. After Product/Market Fit Growth Optimizations Validated Learning Pivots Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
  41. 41. Agenda 1. What is Running Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
  42. 42. Not just limited to code Thursday, November 4, 2010
  43. 43. Speed, Learning, Focus. Thursday, November 4, 2010
  44. 44. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  45. 45. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  46. 46. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
  47. 47. Leap of Faith: Being known as an “expert” will drive early adopters Hypothesis: Blog post will drive >100 early sign-ups Thursday, November 4, 2010
  48. 48. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  49. 49. Time is more valuable than money. Thursday, November 4, 2010
  50. 50. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  51. 51. Qualitative Quantitative Start here Verify with data Thursday, November 4, 2010
  52. 52. Thursday, November 4, 2010
  53. 53. Words matter Images matter Thursday, November 4, 2010
  54. 54. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  55. 55. Thursday, November 4, 2010
  56. 56. Thursday, November 4, 2010
  57. 57. How to build a validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
  58. 58. We thought (Hypotheses): Our Customers told us (Insights): Next Steps (Future Experiments): 0 12.5 25 37.5 50 Jan Feb Mar Apr May June July $20K $15K $10K $5K $0 • Personal Authority would be a viable channel to early adopters • Customers would vote the problem as “must-have” • Customers would pay $49/mo • Most early adopters did come through blog and twitter • Customers voted #3 problem as “must- have”. Others as nice-to-have • $49/mo works for customers with early traction •Test MVP based on “must-have” problem •Test a “Free” model Results from last iteration Thursday, November 4, 2010
  59. 59. Not a better Plan A. But a path to a plan that works. Thursday, November 4, 2010
  60. 60. Thanks! Ash Maurya twitter: ashmaurya blog: http://www.ashmaurya.com Running Lean - the book Systematically iterate your product from plan A to a plan that works http://www.RunningLeanHQ.com Thursday, November 4, 2010

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