2014 KOTRA Experiments Workshop

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Our Experiments Workshop for KOTRA on March 7, 2014

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2014 KOTRA Experiments Workshop

  1. 1. Learn-Measure-Build Craft Useful Experiments By Running Backwards Janice Fraser March 2014
  2. 2. LUXR.CO JUNE 2012
  3. 3. LUXR.CO JUNE 2012 TWEET! #leankotra @luxrco
  4. 4. © 2013 LUXr Incorporated, www.luxr.co June & Pete’s Wedding Cake
  5. 5. © 2013 LUXr Incorporated, www.luxr.co http://saptstrength.com/ Pete June
  6. 6. © 2013 LUXr Incorporated, www.luxr.co April http://saptstrength.com/ May June July August
  7. 7. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com
  8. 8. © 2013 LUXr Incorporated, www.luxr.co freebestpictures.blogspot.com
  9. 9. © 2013 LUXr Incorporated, www.luxr.co thekitchn.com
  10. 10. © 2013 LUXr Incorporated, www.luxr.co Zoe Clark, The Cake Parlour
  11. 11. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com Zoe Clark, The Cake Parlour
  12. 12. © 2013 LUXr Incorporated, www.luxr.co LEAN Startup
  13. 13. © LUXR.CO APRIL 2013 LEAN Startup
  14. 14. © LUXR.CO APRIL 2013 Build measure learn!
  15. 15. © LUXR.CO APRIL 2013
  16. 16. © LUXR.CO 2013 Lean Startup is NOT Cheap Startup Fast Startup Shortcut Startup
  17. 17. © LUXR.CO APRIL 2013 An approach for building companies that are creating new products and services in situations of extreme uncertainty. The approach advocates creating small products that test the entrepreneurʼs assumptions, and using customer feedback to evolve the product, thereby reducing waste. Lean Startup is...
  18. 18. © LUXR.CO APRIL 2013 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence.
  19. 19. © LUXR.CO APRIL 2013 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence.
  20. 20. © LUXR.CO APRIL 2013 Go backward to go forward. Learn Measure Build
  21. 21. © LUXR.CO 2013 Plot the difference THINK release MAKE release MAKE release MAKE RISK=UNVALIDATEDEFFORT TIME
  22. 22. © LUXR.CO 2013 Lots of little wigglesRISK=UNVALIDATEDEFFORT TIME
  23. 23. © LUXR.CO 2013 RISK=UNVALIDATEDEFFORT TIME Each wiggle is a learning cycle. MAKE releaseBUILD LEARN BUILD MEASURE
  24. 24. LUXR.CO JUNE 2012 The Workshop
  25. 25. LUXR.CO JUNE 2012 {Activity} Identify assumptions 10 assumptions, 1 per sticky
  26. 26. LUXR.CO JUNE 2012 {Activity} Divide into 2 piles Will kill the company in the next 6 months if weʼre wrong Everything else
  27. 27. LUXR.CO JUNE 2012 {Activity} Review & de-dupe
  28. 28. LUXR.CO JUNE 2012 {Activity} Stack rank the urgents
  29. 29. LUXR.CO JUNE 2012 {Activity} Pick the top one
  30. 30. LUXR.CO JUNE 2012 {Activity} Design an experiment to learn if this is true. we believe that ________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ _________________________________ __________________________ Briefly describe it. State how you will know if the hypothesis is valid or invalid. This can be quantitative evidence or qualitative. How much time/money/effort will it take?
  31. 31. LUXR.CO JUNE 2012 {Activity} Discuss, then pick the experiment to run. we believe that ________________ __________________________________ __________________________________ __________________________________ __________________________________ __________________________________ __________________________________ ____________ in 2 days. Decide we believe that ________________ __________________________________ __________________________________ __________________________________ __________________________________ __________________________________ __________________________________ ____________ in 2 weeks. we believe that ________________ _________________________________ ________________________________ ________________________________ ________________________________ _______________________________ _______________________________ ____________ in 2 months. ✔
  32. 32. LUXR.CO JUNE 2012 What’s the right size for the experiment? 2 days, 2 weeks, 2 months {Redesign}

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