Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011Presentation 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
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
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
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
LEAN STARTUP ISN’T THAT HARDFind a culture of testing,experimenting and iterating.Make Test LearnBuild an MVP