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S&f the lean startup methodology - co lab

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Athens Lean Startup meetup Jan-2014

Athens Lean Startup meetup Jan-2014

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  • 1. Rev. 1.1 EN Nov. 17, 2013 Startup Definition Human institution organized to create new products and services, under conditions of extreme uncertainty. © 2013 Startups & Founders All Rights Protected and Reserved
  • 2. Do you know about Lean Startup? © 2013 Startups & Founders All Rights Protected and Reserved
  • 3. OK you say you’re lean, now what? © 2013 Startups & Founders All Rights Protected and Reserved
  • 4. Startups Teams are like Sailboat Crews © 2013 Startups & Founders All Rights Protected and Reserved
  • 5. Can you practice Lean with a one person startup? In principle yes. But it’s very inefficient … … and that isn’t the objective © 2013 Startups & Founders All Rights Protected and Reserved
  • 6. Steve Blank Eric Ries © 2013 Startups & Founders All Rights Protected and Reserved Alex Osterwalder
  • 7. Roots: Lean Manufacturing, JIT & TPS Manufacturing  Production Line – for startups how does it apply?  Predictable – for startups which have uncertainty?  Minimizes Defects – what to minimize in startups?  JIT – what to make just in time? How can this be? © 2013 Startups & Founders All Rights Protected and Reserved
  • 8. Roots: Lean Manufacturing, JIT & TPS For Startups, the reference to Lean applies Asymptotically © 2013 Startups & Founders All Rights Protected and Reserved
  • 9. Fundamentals: Validated learning  Talk to customers  Identify patterns  Structured approach: Build  Measure  Learn  Match product features with customer needs (value offered to)  Figure-out and establish an “engine” of growth, but with smarts  Fast-cycle testing and deployment Innovation accounting  progress metrics  milestones, prioritization, accountability © 2013 Startups & Founders All Rights Protected and Reserved
  • 10. Benefits: Validated learning  Engages all employees in the effort  Fosters to all results orientation  Structured approach: Build  Measure  Learn  Repetitive, hence simple – in principle – to implement  Fosters flawless, faster execution  Fosters team building Innovation accounting  Fosters results orientation  Not ‘falling in love’ with innovation per se © 2013 Startups & Founders All Rights Protected and Reserved
  • 11. © 2013 Startups & Founders All Rights Protected and Reserved
  • 12. source: http://www.bigvisible.com/services/enterprise-lean-startup-coaching/ © 2013 Startups & Founders All Rights Protected and Reserved
  • 13. Benefits: capital efficiency  Brings pivot in sooner  Builds less waste of time and money capital efficiency: VC’s do care much about Pivot: A structured course correction designed to test a new fundamental hypothesis about the product, strategy, and “engine” of growth, leading toward growing a sustainable business © 2013 Startups & Founders All Rights Protected and Reserved
  • 14. © 2013 Startups & Founders All Rights Protected and Reserved
  • 15. Aim:  define and articulate  build the institution Moto: Think Big . . Start Small Objectives:  Define the concierge Minimum Viable Product (MVP)  Use the MVP to establish customer traction – Customer Development Lean Thinking: Value + Growth Hypotheses 1 2 © 2013 Startups & Founders All Rights Protected and Reserved
  • 16. Objective 1  Define the concierge Minimum Viable Product (MVP) © 2013 Startups & Founders All Rights Protected and Reserved
  • 17. Objective 1  Define the concierge Minimum Viable Product (MVP) 1. 2. 3. 4. 5. 6. 7. 8. 9. Clear your slate Start with your #1 problem Eliminate nice-to-haves and don’t needs Repeat 3 for your #2 and #3 problems Consider other customer feature requests Charge from day-one, but collect on day-30 Focus on learning, not optimization Gear towards continuous deployment to accelerate #7 Distinguish between “software releases” and “marketing releases” © 2013 Startups & Founders All Rights Protected and Reserved
  • 18. © 2013 Startups & Founders All Rights Protected and Reserved
  • 19. Aim:  define and articulate  build the institution Moto: Think Big . . Start Small Objectives:  Define the concierge Minimum Viable Product (MVP)  Use the MVP to establish customer traction – Customer Development Lean Thinking: Value + Growth Hypotheses 1 2 © 2013 Startups & Founders All Rights Protected and Reserved
  • 20. Objective 2  Use the MVP to establish customer traction – Customer Development © 2013 Startups & Founders All Rights Protected and Reserved
  • 21. Aim:  define and articulate  build the institution Moto: Think Big . . Start Small Objectives:  Define the concierge Minimum Viable Product (MVP)  Use the MVP to establish customer traction – Customer Development Lean Thinking: Value + Growth Hypotheses 1 2 © 2013 Startups & Founders All Rights Protected and Reserved
  • 22. Lean Thinking 1 Value Hypotheses ? © 2013 Startups & Founders All Rights Protected and Reserved
  • 23. Lean Thinking 2 Growth Hypotheses ? © 2013 Startups & Founders All Rights Protected and Reserved
  • 24. © 2013 Startups & Founders All Rights Protected and Reserved
  • 25. http://leanstartupmachine.com/validationboard/ © 2013 Startups & Founders All Rights Protected and Reserved
  • 26. © 2013 Startups & Founders All Rights Protected and Reserved
  • 27. © 2013 Startups & Founders All Rights Protected and Reserved
  • 28. © 2013 Startups & Founders All Rights Protected and Reserved
  • 29. © 2013 Startups & Founders All Rights Protected and Reserved
  • 30. © 2013 Startups & Founders All Rights Protected and Reserved source: http://businessmodelalchemist.com/blog/2011/
  • 31. Use the canvas During the Envision phase to initially setup the business model. During the Scale phase startup teams use the canvas to concentrate and find the best way to pivot. time 3 2 1 Use heavily the canvas curing the Create phase to find the best business model. Teams work on the canvas all-hands and individually. © 2013 Startups & Founders All Rights Protected and Reserved During Scale phase the canvas is used communicate the scale-up approach and to ensure all team-members are aligned.
  • 32. Source: Running Lean © 2013 Startups & Founders All Rights Protected and Reserved
  • 33. Innovation Sandbox:  Parallel process with product sales  Must be run/managed as important part of the business Customer Development: (Steve Blank)  Parallel process with product development  Customer Creation comes after proof of sales and is when you “cross the chasm” (Geoffrey Moore) © 2013 Startups & Founders All Rights Protected and Reserved source: http://steveblank.com/category/customer-development/
  • 34. Market Segments: • Explore, quantify and test pivot options • Expose software engineers to the business side of things • Practice team speed for pivots Benefits for the entire Team: • Deeper understanding of the business model • Creativity / Design Thinking • Quicker reflexes © 2013 Startups & Founders All Rights Protected and Reserved
  • 35. Innovation Sandbox:  Parallel process with product sales  Must be run/managed as important part of the business Customer Development: (Steve Blank)  Parallel process with product development  Customer Creation comes after proof of sales and is when you “cross the chasm” (Geoffrey Moore) © 2013 Startups & Founders All Rights Protected and Reserved source: http://steveblank.com/category/customer-development/
  • 36. © 2013 Startups & Founders All Rights Protected and Reserved
  • 37. Pivoting helps generate Sales You have a product, you have some sales, even initial (e.g. Research Institution to Research Institution), how do you get more sales to real markets? Sales bring Funding closer To get Funding (VC, Angel, private) you need real sales with good market traction, leading to reduced forecasting risk, that is reduced investment risk and up-side, that is ROI opportunities. © 2013 Startups & Founders All Rights Protected and Reserved
  • 38. source: http://blog.leanstartupcircle.com/get-paid-or-get-pivoting/ © 2013 Startups & Founders All Rights Protected and Reserved
  • 39. Pivot Examples:  Zoom in – refocusing the product on what previously had been considered just one feature of a larger whole  Zoom out – expanding from one feature to a whole product  Customer segment – keeping the functionality of the product the same, but changing the audience focus  Customer need – changing the functionality of the product to address specific customer needs  Platform – changing from an application to a platform and vice versa e.g. customer payment change via credit card  Business architecture – changes relating with shifts in high margin, low volume, B2B, B2C approaches  Value capture – changes in the monetization or revenue model  Channel – changes relating with the sales & distribution channels © 2013 Startups & Founders All Rights Protected and Reserved
  • 40. Have you practiced this? © 2013 Startups & Founders All Rights Protected and Reserved
  • 41. For more information about this presentation please contact: Dimitri Papaioannou Email: dimitri@startupsandfounders.com dimitri@usmarketaccess.com Web: www.startupsandfounders.com www.usmarketaccess.com Thank You! © 2013 Startups & Founders All Rights Protected and Reserved
  • 42. Professional Experience:  Entrepreneurship Consultant, Lean Startup Advisor and Team Mentor (2005 – present)  CIVITAS-Ketchum, General Manager, EVP Business Development (2002 – 2005)  Over 20 years of experience in consulting, general management, operations, marketing & sales, information technology, research & development and venture capital  During his career Dimitrios worked with: Osprey Ventures (Silicon Valley), PRTM (Silicon Valley), Fairchild Semiconductor (Portland, ME), SAP (Athens, Greece) and Philips Electronics (Eindhoven, The Netherlands)  Principal inventor of 17 patents in medical optical imaging and 1 in Location Based Services Education:  Cornell University, M.B.A. in Marketing  University of Virginia, Ph.D. in Physics  University of Crete, Bachelor in Physics © 2013 Startups & Founders All Rights Protected and Reserved