How Piratesbuild Products Manuel Koelman Balkan Venture Forum February 2012
manuel koelman | dutch entrepreneur | living incologne | currently working on getcontext.de |co-funder of talential.com | practicalphilosopher | piratesummit.com | interested inagile, lean and productivity | father | caotinalover | traveler
"Entrepreneurship isthrowing yourself off a cliffand building a plane on theway down."Reid Hoffman, Founder of LinkedIn
Are you a pirate?That thrill of your first hire, when you’ve convinced someother crazy soul to join you in your almost certainlydoomed project. The high from raising venture capital andstarting to see your name mentioned in the press. Theexcitement of launch and…gulp…customers! and thefeeling of truly learning something useful, you’re just notsure what it is, when the company almost inevitablycrashes and burns.- Mike Arrington, Techcrunch
Resources € Time The time you have to find a business model / product market fit
Possible Experiment Possible viable problemsolution 1 area A Experiment Possible viable solution 2
Possible viable solution 3 Experiment Possible Possible problem viable area B Experiment solution 4 Possible Experiment Possible viable problemsolution 1 area A Experiment Possible viable solution 2
Speed wins.Reduce the time between pivots. Increase the odds of success.Before you run out of money.
Are you advancing aplan or are you making progress? Progress ≠ # of features
One remark about measurement:Test the small, butmeasure the large.
80% tweaking features. 20% building new features.Consider taking an existing feature out when implementing a new one.
One remark about technology: Use commodity (e.g. opensource) technology wherever possible.Remember, (initially) it is not about the beauty of the code or the solution, but whether you solve a real problem.
Lean Startup is primarily about speed, not about costs. However, focusing on fast customerdevelopment should keep your burn rate low.
Not only for technology companies. Lean Startup is for all companies that faceuncertainty about what customers will want.
Lean Startup is not about the method of funding.They can be bootstrapped as well as be largely VC funded.