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Lean Startup Principles
aka. what old, rich founders say about Lean Startup.
a Founder-Centric module.
CI
ER

EX
SE

Do not open the kit until I say GO!
Build the tallest freestanding structure.The
entire marshmallow must be ...
“I wish I knew that sooner.”
Our job is to bring
ourselves the bad
news sooner.
1st timers

Care too much about their ideas,
and look for certainty in process.

Experienced founders
Care more about oppo...
Build
Learn

Measure
Principles,
not process.
Principles

Iteration
Do Less
Improve the big picture
Learn, then confirm
Course-correction
Salim Virani
@saintsal
www.saintsal.com
Agency
5 startups
Leancamp
Founder-Centric
ST

PO
UP

Our learning
goals today.
Do less.
Don’t work hard to
mask your inefficiency.
Not enough time?
Not enough money?
Grow with efficiency.
How to Do Less.
Multiplying deliberately.
Letting go.
Limiting work-in-progress.
Time limits.
Being picky about customers.
Add a zero
0
10
100
1,000
10,000
100,000
1,000,000
10,000,000
Tenacity
Good for vision, inventing
and improving.
Bad for getting stuck on
specifics that don’t work.
WIP Yourself!
SI

S
CU

S
DI
ON

Inside the
building Use a timer.
Choose your
customer.
Lack of direction.
Vague customer definitions.
Multiple customer definitions.
Is this conversation useful?
Specific customer definitions
help find them quickly, and
point out scalable channels to
reach them.
Specific value propositio...
CI
ER

EX
SE

Earlyvangelists
Have the problem
Know they have the problem!
Have budget to solve it.
Have looked for a solu...
Customer Slicing

?
Jobs

Obstacles

Goals

Current
Solution

Decision
Trigger

Interest
Trigger
Seeing the
big picture.
Big Picture
Lenses
Growth Engines
Business Model Design
7 Domains
7 ways to die.
Choose none.
Market

Industry

Trends

Establishment

Macro
Alignment

Skills

Connections

Micro

Customer
Need &
Behaviour

Lock-in &...
Team - Alignment

Will we stay
aligned?
Decision Hack:
Map the overlap between
your goals.
Goal Fit
Narrow down the options to find matches.
Fit comes from elimination, not selection.
SE

Individually, write possible
3-year goals for your
company.

CI
ER

EX

Goal Fit
SE

Hand off the goals to your
partners.

CI
ER

EX

Goal Fit
SE

If any of the goals don’t
work for you, explain the
trade-off for you on the back
of the card.

CI
ER

EX

Goal Fit
Risk Tolerance
Size
Length
Role
Control
Affordable Loss
CI
ER

EX

Individually, what are the
company milestones for the
next year? Goals? Walkaway conditions?
One per card. Incl...
CI
ER

EX

As a group, create a single
timeline out of all the cards.
Star any that don’t feel right
or don’t fit for discu...
Team - Skills

Do we have the
connections?
Team Connections
Industry
Market
Domain expertise
Channel
CI
ER

EX
SE

Who do you need?
Industry
Market
Domain expertise
Channel
CI
ER

EX
SE

Are there any you
can’t get on the
phone in 48 hours?
Email Emerge now.
Decision Hack:
Plant a flag.
Decision Hack:
Go there and help.
CI
ER

EX
SE

Core Skills
CI
ER

EX
SE

Core Skills
What skills, if weak, can
kill your business?
What skills, if strong, can
give you disproportion...
Team - Skills

Are we
capable?
Decision Hack:
Choose goals based on
what you have.
Affordable Loss.

What I’ve
got
What I
can do
Small partnerships.
Growth Engines
ON

Growth Engines,
from The Lean Startup by
Eric Ries

SI

Sticky
Paid Acquisition
Viral

S
CU

S
DI

Understanding growt...
Business
Model
Design
Tenacity
Good for vision, inventing
and improving.
Bad for getting stuck on
specifics that don’t work.
Mass customisation

Crowdsource

Ad-supported

Viral
Transactional

Multi-sided
market

Value-based
pricing
Direct-over-vi...
2 stages of learning

Learn

Confirm
2 stages of learning

Ask

Sell
2 stages of learning

Observe

Experiment
Do we
understand
the industry?
Does
anyone
care at all?
Do we
understand
the industry?
Does
anyone
care at all?

Are we
building the
right product?

Will any
pay for it?
2 stages of learning

Learn

Confirm
What can spies teach us about
Customer Development?
2 stages of learning

Collect Analyse
2 stages of learning

Learn

Confirm
Where is
the love?
Course-correction
“I wish I knew that sooner.”
Building with
a heartbeat.
Build
Learn

Measure
Minimum Viable
What is the minimum thing I need to build
to prove or disprove this?
SE

(Hint: use the Canvas or metrics
to make sure it’s relevant.)

CI
ER

What big make-or-break risks
or idea is the one ...
Start with your
learning goal.

Build
Learn

Pick a learning goal.
Pick a measurement.
Draw your MVP on a blank sheet.

Me...
Principles

Iteration
Do Less
Improve the big picture
Learn, then confirm
Course-correction
Build
Learn

Measure
Make it your own.
Thanks!
CI
ER

EX
SE

Slicing off segments
They are real people (not attributes!)
It’s clear where to find them.
You’ll walk away i...
Specific definitions
allow for validation or invalidation.
And that speeds progress.
Take a look at the
customers’ world
Looking at different aspects of
their lives, we’ll examine our own
beliefs about them,...
Product

Market
Behaviour

Customer
EX
CI
ER

Customer Slicing

SE

?
Jobs

Obstacles

Goals

Current
Solution

How deep do you go?
They are real people (not ...
Foundation principles   Emerge Education
Foundation principles   Emerge Education
Foundation principles   Emerge Education
Foundation principles   Emerge Education
Foundation principles   Emerge Education
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Foundation principles Emerge Education

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Startup Principles from Lean Startup, Effectuation and 7 Domains, kicking off the Emerge Education Accelerator.

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Transcript of "Foundation principles Emerge Education"

  1. 1. Lean Startup Principles aka. what old, rich founders say about Lean Startup. a Founder-Centric module.
  2. 2. CI ER EX SE Do not open the kit until I say GO! Build the tallest freestanding structure.The entire marshmallow must be on the very top. You’ll have 18 minutes. Use as much or as little of the kit contents as you want, but nothing else!
  3. 3. “I wish I knew that sooner.”
  4. 4. Our job is to bring ourselves the bad news sooner.
  5. 5. 1st timers Care too much about their ideas, and look for certainty in process. Experienced founders Care more about opportunity cost, and look for certainty in evidence.
  6. 6. Build Learn Measure
  7. 7. Principles, not process.
  8. 8. Principles Iteration Do Less Improve the big picture Learn, then confirm Course-correction
  9. 9. Salim Virani @saintsal www.saintsal.com Agency 5 startups Leancamp Founder-Centric
  10. 10. ST PO UP Our learning goals today.
  11. 11. Do less.
  12. 12. Don’t work hard to mask your inefficiency.
  13. 13. Not enough time? Not enough money?
  14. 14. Grow with efficiency.
  15. 15. How to Do Less. Multiplying deliberately. Letting go. Limiting work-in-progress. Time limits. Being picky about customers.
  16. 16. Add a zero 0 10 100 1,000 10,000 100,000 1,000,000 10,000,000
  17. 17. Tenacity Good for vision, inventing and improving. Bad for getting stuck on specifics that don’t work.
  18. 18. WIP Yourself!
  19. 19. SI S CU S DI ON Inside the building Use a timer.
  20. 20. Choose your customer.
  21. 21. Lack of direction. Vague customer definitions. Multiple customer definitions.
  22. 22. Is this conversation useful?
  23. 23. Specific customer definitions help find them quickly, and point out scalable channels to reach them. Specific value propositions are more compelling and help you get early traction. Zoom in!
  24. 24. CI ER EX SE Earlyvangelists Have the problem Know they have the problem! Have budget to solve it. Have looked for a solution. Have tried to build a solution.
  25. 25. Customer Slicing ? Jobs Obstacles Goals Current Solution Decision Trigger Interest Trigger
  26. 26. Seeing the big picture.
  27. 27. Big Picture Lenses Growth Engines Business Model Design 7 Domains
  28. 28. 7 ways to die. Choose none.
  29. 29. Market Industry Trends Establishment Macro Alignment Skills Connections Micro Customer Need & Behaviour Lock-in & copyability Modified from 7 Domains, From The New Business Road Test, by John Mullins
  30. 30. Team - Alignment Will we stay aligned?
  31. 31. Decision Hack: Map the overlap between your goals.
  32. 32. Goal Fit Narrow down the options to find matches. Fit comes from elimination, not selection.
  33. 33. SE Individually, write possible 3-year goals for your company. CI ER EX Goal Fit
  34. 34. SE Hand off the goals to your partners. CI ER EX Goal Fit
  35. 35. SE If any of the goals don’t work for you, explain the trade-off for you on the back of the card. CI ER EX Goal Fit
  36. 36. Risk Tolerance Size Length Role Control Affordable Loss
  37. 37. CI ER EX Individually, what are the company milestones for the next year? Goals? Walkaway conditions? One per card. Include dates. SE Risk Tolerance
  38. 38. CI ER EX As a group, create a single timeline out of all the cards. Star any that don’t feel right or don’t fit for discussion at the pub tonight. SE Risk Tolerance
  39. 39. Team - Skills Do we have the connections?
  40. 40. Team Connections Industry Market Domain expertise Channel
  41. 41. CI ER EX SE Who do you need? Industry Market Domain expertise Channel
  42. 42. CI ER EX SE Are there any you can’t get on the phone in 48 hours? Email Emerge now.
  43. 43. Decision Hack: Plant a flag.
  44. 44. Decision Hack: Go there and help.
  45. 45. CI ER EX SE Core Skills
  46. 46. CI ER EX SE Core Skills What skills, if weak, can kill your business? What skills, if strong, can give you disproportionate advanges?
  47. 47. Team - Skills Are we capable?
  48. 48. Decision Hack: Choose goals based on what you have.
  49. 49. Affordable Loss. What I’ve got What I can do Small partnerships.
  50. 50. Growth Engines
  51. 51. ON Growth Engines, from The Lean Startup by Eric Ries SI Sticky Paid Acquisition Viral S CU S DI Understanding growth
  52. 52. Business Model Design
  53. 53. Tenacity Good for vision, inventing and improving. Bad for getting stuck on specifics that don’t work.
  54. 54. Mass customisation Crowdsource Ad-supported Viral Transactional Multi-sided market Value-based pricing Direct-over-viral Event-supported SaaS Licensing Bundling App sale + Subscription in-app purchase Purchase-timing
  55. 55. 2 stages of learning Learn Confirm
  56. 56. 2 stages of learning Ask Sell
  57. 57. 2 stages of learning Observe Experiment
  58. 58. Do we understand the industry? Does anyone care at all?
  59. 59. Do we understand the industry? Does anyone care at all? Are we building the right product? Will any pay for it?
  60. 60. 2 stages of learning Learn Confirm
  61. 61. What can spies teach us about Customer Development?
  62. 62. 2 stages of learning Collect Analyse
  63. 63. 2 stages of learning Learn Confirm
  64. 64. Where is the love?
  65. 65. Course-correction
  66. 66. “I wish I knew that sooner.”
  67. 67. Building with a heartbeat.
  68. 68. Build Learn Measure
  69. 69. Minimum Viable What is the minimum thing I need to build to prove or disprove this?
  70. 70. SE (Hint: use the Canvas or metrics to make sure it’s relevant.) CI ER What big make-or-break risks or idea is the one you want to nail down this week? EX Pick a learning goal
  71. 71. Start with your learning goal. Build Learn Pick a learning goal. Pick a measurement. Draw your MVP on a blank sheet. Measure
  72. 72. Principles Iteration Do Less Improve the big picture Learn, then confirm Course-correction
  73. 73. Build Learn Measure
  74. 74. Make it your own.
  75. 75. Thanks!
  76. 76. CI ER EX SE Slicing off segments They are real people (not attributes!) It’s clear where to find them. You’ll walk away if they aren’t a good fit.
  77. 77. Specific definitions allow for validation or invalidation. And that speeds progress.
  78. 78. Take a look at the customers’ world Looking at different aspects of their lives, we’ll examine our own beliefs about them, who they are – and if they really exist, how to frame our value in their context.
  79. 79. Product Market
  80. 80. Behaviour Customer
  81. 81. EX CI ER Customer Slicing SE ? Jobs Obstacles Goals Current Solution How deep do you go? They are real people (not attributes!) It’s clear where to find them. You’ll walk away if they aren’t a good fit. Decision Trigger Interest Trigger
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