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Lecture about customer development and lean startup

Lecture about customer development and lean startup

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    Startup tools Startup tools Presentation Transcript

    • Startup toolsLuiz Borba - http://borba.blog.br - @luizborba
    • Startup historyGolden Age Lean Startups 1970-1995 1995-2000 2000-2011 2011-? dot.com bubble The new bubble
    • Golden Age (1970-1995) ‣ Building a business ‣ $ Millions to start (proprietary hw/sw) ‣ Long product dev cycle (waterfall) ‣ Thousands Customers ‣ Liquidity=IPO ‣ No repeatable methodology
    • dot.com bubble (1995-2001) ‣ Flipping a business ‣ 10s $ millions to start (get big fast) ‣ Long product dev cycle ‣ Millions of customers ‣ no profits IPO ‣ Repeatable methodology
    • Lean Startups (2001-2010) ‣ < $500k to start ‣ Short product dev cycle (agile development) ‣ 10s millions customers ‣ M&A (revenue & network of users) ‣ Repeatable methodology
    • $41 millions
    • The new bubble (2010-????) ‣ Flipping a built business? ‣ Short product dev cycle (agile development) ‣ 10s/100s millions customers ‣ M&A & IPO ‣ Repeatable methodology
    • Building a Business
    • Lean Thinking
    • Identify value from standpoint of the end customer
    • Map the value stream
    • Create flow by eliminating waste
    • Understand the customer demand
    • Pursue perfection
    • Customer DevelopmentThe search for the business modelThe Search for a Business The Growth of a Business
    • ‘ Startup is an organization formed to search for a repeatable and scalable business model - Steve Blank
    • Customer Discovery
    • Customer Discovery ‣ Stop selling, start listening ‣ Test your hypotheses ‣ Continuous Discovery
    • Get out of thebuilding
    • Coming soon
    • Type of Market Changes Everything• Market • Sales • Customers • Market Size • Sales Model • Needs • Cost of entry • Margins • Adoption • Finance • Launch type • Sales cycle • Ongoing Capital • Competitive Barriers • Chasm width • Time to profitability • Positioning
    • Customer Validation
    • How to Validate?
    • Minimum Viable Product (MVP) The minimum set of features needed to learn from early adopters
    • The Pivot
    • Change directions butstay grounded in what weve learned
    • ‘ A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. - Eric Ries
    • The Lean Startup Principles ‣ Entrepeneurs are everywhere ‣ Entrepeneurship is management ‣ Validated Learning ‣ Innovation Accounting ‣ Build-Measure-Learn
    • Traditional product development unit of progress: advance to next stage
    • Agile product development unit of progress: a line of working code
    • Product development at Lean Startup unit of progress: validated learning about customers ($$$)
    • The Loop
    • Minimize the total time through the loop
    • Build faster ‣ Unit tests ‣ Cluster immune system ‣ Usability tests ‣ Just-in-time ‣ Continuous scalability integration ‣ Refactoring ‣ Incremental deployment ‣ Developer sandbox ‣ Free & open-source ‣ Minimum viable product ‣ Cloud computing
    • Measure faster ‣ Split tests ‣ Funnel Analysis ‣ Continuous ‣ Cohort Analysis deployment ‣ Net promoter score ‣ Usability tests ‣ Search engine ‣ Real-time marketing monitoring & alerting ‣ Predictive ‣ Customer liaison monitoring
    • Split testsif (setup_experiment(...) == CONTROL) { // new way} else { // old way}
    • Continuous deployment
    • Funnel analysis
    • Learn faster ‣ Split tests ‣ Product owner ‣ Customer ‣ Accountability development ‣ Customer archetypes ‣ Five whys ‣ Cross-functional ‣ Customer advisory teams board ‣ Semi-autonomous ‣ Falsifiable teams hypotheses ‣ Smoke tests
    • Reality Checkhttp://slidesha.re/kexf1L
    • Q&A
    • Thank you