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 when implementing lean techniques.

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Lean Startup and Customer Development - Bader Lebanon

  1. 1. Lean Startups & Customer Development
  2. 2. First: a little bit of “Color”
  3. 3. Raised $41M without a product
  4. 4. “Color Looks To Reinvent Social Interaction With Its Mobile Photo App” TechCrunch
  5. 5. “This is a potentially huge opportunity that will likely be worth many billions if it works out.” Business Insider
  6. 6. “Color May Be The Next Twitter.” Readwrite.com
  7. 7. So what happened?
  8. 8. “An obscene, expensive pixel farce”
  9. 9. “Nobody’s using the app”
  10. 10. “Epic flop”
  11. 11. Now, Instagram…
  12. 12. Started as ‘Burbn’,
  13. 13. but users were using it differently
  14. 14. Co-founders listened & tweaked
  15. 15. 100K users in a few days
  16. 16. Sold to Facebook for $1 billion
  17. 17. Most startups fail because they fail to find customers
  18. 18. Typical startup scenario
  19. 19. On the other hand…
  20. 20. Extremely simple file-sharing tool
  21. 21. Is file syncing a major problem?
  22. 22. Founders did a video: 75,000 sign ups
  23. 23. Currently valued at $4 billion
  24. 24. Does anyone actually need your product?
  25. 25. Good product development but Bad customer development
  26. 26. 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
  27. 27. 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
  28. 28. Nordstrom Innovation Lab (video)
  29. 29. You must get out of the building
  30. 30. Lean Startup: Build, Measure, Learn. (Repeat)
  31. 31. build Minimum Viable Products and Pivot until Product/Market Fit.
  32. 32. 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
  33. 33. What does Product/Market Fit look like?
  34. 34. Work with Early Adopters i.e. extreme users
  35. 35. Measuring Progress: Business Model Canvas
  36. 36. Customer Development in Action (video)
  37. 37. In summary: Admit your uncertainties Methodically iterate to reduce them Seek validation from the real world Stay lean until it clicks
  38. 38. And once it clicks, raise $$
  39. 39. Insights
  40. 40. Thank You

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