2014 KOTRA Experiments Workshop
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2014 KOTRA Experiments Workshop

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Our Experiments Workshop for KOTRA on March 7, 2014

Our Experiments Workshop for KOTRA on March 7, 2014

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2014 KOTRA Experiments Workshop Presentation Transcript

  • 1. Learn-Measure-Build Craft Useful Experiments By Running Backwards Janice Fraser March 2014
  • 2. LUXR.CO JUNE 2012
  • 3. LUXR.CO JUNE 2012 TWEET! #leankotra @luxrco
  • 4. © 2013 LUXr Incorporated, www.luxr.co June & Pete’s Wedding Cake
  • 5. © 2013 LUXr Incorporated, www.luxr.co http://saptstrength.com/ Pete June
  • 6. © 2013 LUXr Incorporated, www.luxr.co April http://saptstrength.com/ May June July August
  • 7. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com
  • 8. © 2013 LUXr Incorporated, www.luxr.co freebestpictures.blogspot.com
  • 9. © 2013 LUXr Incorporated, www.luxr.co thekitchn.com
  • 10. © 2013 LUXr Incorporated, www.luxr.co Zoe Clark, The Cake Parlour
  • 11. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com Zoe Clark, The Cake Parlour
  • 12. © 2013 LUXr Incorporated, www.luxr.co LEAN Startup
  • 13. © LUXR.CO APRIL 2013 LEAN Startup
  • 14. © LUXR.CO APRIL 2013 Build measure learn!
  • 15. © LUXR.CO APRIL 2013
  • 16. © LUXR.CO 2013 Lean Startup is NOT Cheap Startup Fast Startup Shortcut Startup
  • 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. © LUXR.CO APRIL 2013 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence.
  • 19. © LUXR.CO APRIL 2013 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence.
  • 20. © LUXR.CO APRIL 2013 Go backward to go forward. Learn Measure Build
  • 21. © LUXR.CO 2013 Plot the difference THINK release MAKE release MAKE release MAKE RISK=UNVALIDATEDEFFORT TIME
  • 22. © LUXR.CO 2013 Lots of little wigglesRISK=UNVALIDATEDEFFORT TIME
  • 23. © LUXR.CO 2013 RISK=UNVALIDATEDEFFORT TIME Each wiggle is a learning cycle. MAKE releaseBUILD LEARN BUILD MEASURE
  • 24. LUXR.CO JUNE 2012 The Workshop
  • 25. LUXR.CO JUNE 2012 {Activity} Identify assumptions 10 assumptions, 1 per sticky
  • 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. LUXR.CO JUNE 2012 {Activity} Review & de-dupe
  • 28. LUXR.CO JUNE 2012 {Activity} Stack rank the urgents
  • 29. LUXR.CO JUNE 2012 {Activity} Pick the top one
  • 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. 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. LUXR.CO JUNE 2012 What’s the right size for the experiment? 2 days, 2 weeks, 2 months {Redesign}