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Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011
 

Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011

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    Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011 Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011 Presentation Transcript

    • LEAN STARTUP WORKSHOPPractical ways to turn your idea into a successful product
    • WHO ARE WE Stuart Eccles Charlotte Hillenbrand Cath Richardson Salim Virani Rob Fitzpatrick
    • EXPLOITINGDISRUPTIVEINNOVATION
    • MAKING STUFF
    • THE LEAN STARTUP MOVEMENT
    • • Rapid prototyping to test hypotheses• Minimum Viable Product (MVP)• Nail it then scale it• Customer obsession• THE LEAN STARTUP MOVEMENT Iterative, metrics-driven & Agile• Learn fast, don’t fail fast
    • SCIENTIFICAPPROACH TO STARTUP/ PRODUCTDEVELOPMENT
    • ITS ABOUT RUNNINGEXPERIMENTS
    • BEFORE SCALING TO UNIVERSE DENTING PROPORTIONS
    • HOW DO WE KNOW WE AREMAKING PROGRESS?The unit of success we use ismeasure in “validated learning”
    • BREAKING GROUNDON AN IDEA
    • HOW DO YOU KNOW IF YOUR IDEA IS WORTH YOUR TIME, MONEY, EFFORT?
    • “We always have a visionthat is clearly articulated, bigenough to matter & sharedby the whole team.“Our goal is always todiscover which aspects ofthis vision are grounded inreality & adapt thoseaspects that are not.”
    • BY TESTING YOUR IDEA ON YOURPOTENTIAL CUSTOMERS YOU WILL LEARN IF YOU ARE ON TO SOMETHING
    • DO THEY HAVE WILL THEY PAY THIS YOU FOR YOUR PROBLEM? SOLUTION?
    • CUSTOMER DEVELOPMENTAn active approach to engagingwith users which tests ourassumptionsAnd builds customer intimacywith potential customers
    • GET OUT OF THEBUILDING
    • THIS IS WHAT WE WILLCONCENTRATE ON TODAYBiggest barriers to realising thevalue of Lean Startup:Talking to peopleGiving over your ideas toexamined in broad daylight
    • BUILDING AN MVP
    • THE MINIMUM VIABLE PRODUCTThe minimal set of features thatsolves the problem and providesvalueSomething that can be measured andtunedDoesn’t have to have the same formas the final product
    • EXPERIMENTING AND OPTIMISING
    • INNOVATION ACCOUNTINGMeasure what is actionable,track every input and changeRun split experiments to proveyour hypothesis on your product
    • +152%
    • OPTIMISING THROUGH METRICSAND CUSTOMER INTERVIEWS WORK IN TANDEM
    • SKYPE IN THE CLASSROOM
    • SKYPE CAME TO US WITH ACOMMS BRIEFThey’d noticed that teachers all over theworld were using Skype in extraordinaryways.They wanted us to collect these storiesand use them to promote the service &inspire other teachers.
    • WE RESPONDED WITH SOMENON-MARKETING IDEASLayer a new service on top of the basicfree communication serviceUse a customer-centric and test-drivenway of working out what that servicewould be
    • OUR INITIAL ASSUMPTIONS WERETHAT IT WAS ALL ABOUT A LESSON PLANNING TOOL WITH EXAMPLES,IDEAS AND TIPS ON INTEGRATING SKYPE INTO LEARNING
    • We discovered immediately that their biggest obstacle was actually finding other teachers who also used Skype
    • They also told us that teachers don’t have time to read lots of lesson plans - video clips would be much more helpful
    • BRAINSTORM SKETCHING USE CASES PROTOTYPES USER JOURNEY SKETCHES INTERVIEWS HIGH FIDELITY DESIGNS SERVICE MODELS
    • ONLINE SURVEYS
    • PIVOT ORPERSEVERE
    • AN INTUITIVE LEAPLOCALMAXIMA
    • “Our goal is always todiscover whichaspects of this visionare grounded inreality & adapt thoseaspects that are not.”
    • PIVOT: ONE FOOT STAYS WHILETHE OTHER MOVESIn course correction to a newstrategy to test a new fundamentalhypothesisA human decision assisted bymetrics and customer intimacyShould be hard and fast with a newstrategy already defined
    • TYPES OF PIVOT
    • ZOOM-IN PIVOTWhat was considered a singlefeature becomes the entireproduct.
    • ZOOM-OUT PIVOTWhat was considered the entireproduct becomes a feature(s) ofthe new product.
    • CUSTOMER SEGMENT PIVOTThe product is valuable but notto its intended customers so anew customer segment isdefined.CUSTOMER ZOOM-INCUSTOMER ZOOM-OUT
    • CUSTOMER NEED PIVOTThe problem solved is not veryimportant, or money isn’tavailable to buy. This requiresrepositioning, or a new product,to find a problem worth solving.
    • PLATFORM PIVOTFrom an application/solution toa platform or vice versa
    • BUSINESS ARCHITECTURE PIVOTFrom low margin/high volume tohigh margin/low volume or viceversa
    • ENGINE OF GROWTH PIVOTStickyViralPaid
    • WRAP UP
    • LEAN STARTUP ISN’T THAT HARDFind a culture of testing,experimenting and iterating.Make Test LearnBuild an MVP
    • http://leanca.mphttp://blog.thestartuptoolkit.comhttp://madebymany.com/signals/ the-lean-startup-movement @robfitz@crashtherocks @saintsal @ohrworm @stueccles
    • LEAN STARTUP MEETING ATUCL TONIGHT!