Lean Startup and Customer Development - Bader Lebanon
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Lean Startup and Customer Development - Bader Lebanon

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An overview of LS and Customer Development methodologies, providing examples of success and failure of startups from the perspective of the methods, as well as providing insights about common mistakes ...

An overview of LS and Customer Development methodologies, providing examples of success and failure of startups from the perspective of the methods, as well as providing insights about common mistakes when implementing lean techniques.

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Lean Startup and Customer Development - Bader Lebanon Lean Startup and Customer Development - Bader Lebanon Presentation Transcript

  • Lean Startups & Customer Development
  • First: a little bit of “Color”
  • Raised $41M without a product
  • “Color Looks To Reinvent Social Interaction With Its Mobile Photo App” TechCrunch
  • “This is a potentially huge opportunity that will likely be worth many billions if it works out.” Business Insider
  • “Color May Be The Next Twitter.” Readwrite.com
  • So what happened?
  • “An obscene, expensive pixel farce”
  • “Nobody’s using the app”
  • “Epic flop”
  • Now, Instagram…
  • Started as ‘Burbn’,
  • but users were using it differently
  • Co-founders listened & tweaked
  • 100K users in a few days
  • Sold to Facebook for $1 billion
  • Most startups fail because they fail to find customers
  • Typical startup scenario
  • On the other hand…
  • Extremely simple file-sharing tool
  • Is file syncing a major problem?
  • Founders did a video: 75,000 sign ups
  • Currently valued at $4 billion
  • Does anyone actually need your product?
  • Good product development but Bad customer development
  • A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty by Eric Ries A startup is an organization formed to search for a repeatable and scalable business model by Steve Blank
  • A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty by Eric Ries A startup is an organization formed to search for a repeatable and scalable business model by Steve Blank
  • Nordstrom Innovation Lab (video)
  • You must get out of the building
  • Lean Startup: Build, Measure, Learn. (Repeat)
  • build Minimum Viable Products and Pivot until Product/Market Fit.
  • At first we launched a crowdfunding platform; little did we know that the market was more interested in the ticket sales part. Walid Singer, Presella.com co-founder
  • What does Product/Market Fit look like?
  • Work with Early Adopters i.e. extreme users
  • Measuring Progress: Business Model Canvas
  • Customer Development in Action (video)
  • In summary: Admit your uncertainties Methodically iterate to reduce them Seek validation from the real world Stay lean until it clicks
  • And once it clicks, raise $$
  • Insights
  • Thank You