The Minimum
and
The Viable
Dr Tendayi Viki
University of Kent

Website: www.tendayiviki.com

Follow Me: @tendayiviki
The F...
About Me:
Academic: @unikent
4 failed startups, e.g. Tasksauce
Currently: Valideation
Organizer: Lean Startup Circle Kent
It’s a New Day
The costs and difficulty of setting
up a new startup have
plummeted…
The question is no longer can it be
built, but rather should it be
built….
Eric Ries (2011)
The Lean Startup
http://lean.s...
The Challenge
Most New Business Ideas
Are Terrible
People are terrible at
predicting what other people
will pay money for.
There is very little value in
the initial idea itself.
It is just a seed that forms the basis for learning.
Great entrepreneurs are
comfortable with “killing their
babies”…
And pivoting to new ideas….
The Curse of the “O’s”
CEO, CFO, CMO, CTO, COO
Startups are not smaller
versions of big
companies!
Steve Blank & Bob Dorf (2012)
The Startup Owner’s Manual
http://ow.ly/...
Startups are more like
frogs than fish.
Rob Fitzpatrick and Salim Virani (2012)
http://www.foundercentric.com
The Curse of Early Success
You can’t argue with success…
Yes you can.
Seth Godin
http://ow.ly/fcIUG
No two startup situations
are the same…
(Even in the same market as another company)
Rob Fitzpatrick and Salim Virani (2012)
http://www.foundercentric.com/
Each startup situation
has its own
topography….
And it’s a great challenge to
business plan for that…
A Startup is A Thesis
Not Executing a Plan but;
A Path for Searching:
For a sustainable and
profitable business model…
Eric Ries (2011)
The Lean Startup
http://lean.st
Get out of the building and
start talking to customers
As early as possible…
Ash Maurya (2012)
Running Lean
http://www.runningleanhq.com/
The Minimum Viable Product
 In

a Lean Startup, we don’t build
products with the goal of selling:
◦ It is always with the...
A Great MVP
 The

hypothesis/objective you are
trying to learn.
 from the target market
segment you are trying to learn
...
Running Successful Experiments
 Specify

who you are going to be talking
to from the beginning.
◦ Be specific about your ...
Running Successful Experiments
 Specify

exactly what you would expect
to find if your assumptions are correct.
◦ Hypothe...
A Great MVP
 In

science, the process is called
operationalization:
◦ Taking an abstract notion and concretising it!



...
Get out of the building and
start talking to customers.
No one is going to steal
your idea…
Remember, there is very little
value in the initial idea itself.
It is just a seed that forms the basis for learning.
Eric Ries (2011)
The Lean Startup
http://lean.st
THANK YOU
The Minimum and The Viable
The Minimum and The Viable
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The Minimum and The Viable

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Talk at Founders Hive, December 2012

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The Minimum and The Viable

  1. 1. The Minimum and The Viable Dr Tendayi Viki University of Kent Website: www.tendayiviki.com Follow Me: @tendayiviki The Founder’s Hive
  2. 2. About Me: Academic: @unikent 4 failed startups, e.g. Tasksauce Currently: Valideation Organizer: Lean Startup Circle Kent
  3. 3. It’s a New Day
  4. 4. The costs and difficulty of setting up a new startup have plummeted…
  5. 5. The question is no longer can it be built, but rather should it be built…. Eric Ries (2011) The Lean Startup http://lean.st
  6. 6. The Challenge
  7. 7. Most New Business Ideas Are Terrible
  8. 8. People are terrible at predicting what other people will pay money for.
  9. 9. There is very little value in the initial idea itself. It is just a seed that forms the basis for learning.
  10. 10. Great entrepreneurs are comfortable with “killing their babies”… And pivoting to new ideas….
  11. 11. The Curse of the “O’s” CEO, CFO, CMO, CTO, COO
  12. 12. Startups are not smaller versions of big companies! Steve Blank & Bob Dorf (2012) The Startup Owner’s Manual http://ow.ly/fcJEU
  13. 13. Startups are more like frogs than fish. Rob Fitzpatrick and Salim Virani (2012) http://www.foundercentric.com
  14. 14. The Curse of Early Success
  15. 15. You can’t argue with success… Yes you can. Seth Godin http://ow.ly/fcIUG
  16. 16. No two startup situations are the same… (Even in the same market as another company)
  17. 17. Rob Fitzpatrick and Salim Virani (2012) http://www.foundercentric.com/
  18. 18. Each startup situation has its own topography…. And it’s a great challenge to business plan for that…
  19. 19. A Startup is A Thesis
  20. 20. Not Executing a Plan but; A Path for Searching: For a sustainable and profitable business model…
  21. 21. Eric Ries (2011) The Lean Startup http://lean.st
  22. 22. Get out of the building and start talking to customers As early as possible…
  23. 23. Ash Maurya (2012) Running Lean http://www.runningleanhq.com/
  24. 24. The Minimum Viable Product  In a Lean Startup, we don’t build products with the goal of selling: ◦ It is always with the goal of learning.  That is why we build minimum viable products (MVP). ◦ The minimal product we need to build to maximise learning. /
  25. 25. A Great MVP  The hypothesis/objective you are trying to learn.  from the target market segment you are trying to learn about.  and the form it takes to achieve that learning. Patrick Vlaskovitz (2012) http://vlaskovits.com/2012/09/apple-maps-debacle-and-minimum-viable-
  26. 26. Running Successful Experiments  Specify who you are going to be talking to from the beginning. ◦ Be specific about your target sample.  If you talk to anyone who will talk to you: ◦ It becomes hard to distinguish signal from noise.
  27. 27. Running Successful Experiments  Specify exactly what you would expect to find if your assumptions are correct. ◦ Hypotheses MUST be falsifiable. ◦ Set minimum success criteria.  Otherwise, there is no way to know if you have learned anything.
  28. 28. A Great MVP  In science, the process is called operationalization: ◦ Taking an abstract notion and concretising it!  The products you build as an MVP must be a concretised test of your hypotheses about customers.
  29. 29. Get out of the building and start talking to customers.
  30. 30. No one is going to steal your idea…
  31. 31. Remember, there is very little value in the initial idea itself. It is just a seed that forms the basis for learning.
  32. 32. Eric Ries (2011) The Lean Startup http://lean.st
  33. 33. THANK YOU

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