The Lean Startup - Basics

19.02.2011THE LEAN STARTUP Lot’s of information is taken from presentations of Eric Ries, Steve Blank and others.I’m Lukas Fischer www.netnode.ch - We create webapps with Drupal www.guzuu.com - handmade online www.offerten-rechnungen.com - leads & invoices done right SOON: Facebook Quests - explore, learn, engage - social follow me on www.twitter.com/lukasfischer 1

70%> fail 10 % earn money 3

WHY? Startups don’t build what customers REALLY want. 4

UUH More startups Fail from a lack of customers than from a failure of product development. 5

LEANSTARTUPA SET OF PRACTICES TO HELPSTARTUPS SUCCEEDNOT JUST 2 GUYS IN A GARAGE@ERICRIES (entrepreneur IMVU, StartupsLessonsLearned.com)@SGBLANK (Standford, Wrote a book about customer development) 6

WHAT IS A STARTUP?a human institutiondesigned to deliver aproduct or serviceunder extreme uncertaintyexperiment 7

A startup is theorganisation used tosearch for a scalablebusiness model 8

Search for The execution of theBusiness Model Business Model LargeSTARTUP TRANSITION Company - Business model found - Reached Product Market fit - Repeatable sales model found 9

LEAN STARTUP assumes customer and product is unknow 10

CUSTOMER DEVELOPMENT TEST CHARGE START SCALEHYPOTHESES MONEY SALES 11

AGILE DEVELOPMENT 12

13 LEAN STARTUP TRICKS,DOS AND DONTS 15

#1 FORGET WATERFALL 16

#2 LEAN STARTUP TEAM PROBLEM TEAM SOLUTION TEAM 17

#3 MINIMUM VIABLEPRODUCT MVP TEST YOUR ASSUMPTIONS BUILD A MVP IN A WEEKEND -> LEAN STARTUP FACTORY 18

MVP: DROPBOX 3MIN VIDEO ON HACKER NEWS + A EMAIL SIGNUP FORM 19

#4 LESS FEATURESELIMINATEELIMINATEDO WE REALLY SOLVE A PROBLEM? 20

#5 EARLYEVANGELISTSFEEDBACKVISIONARY CUSTOMERS TELL YOU WHAT FEATURES ARE MISSING 21

#6 CONTINOUSINTEGRATIONITERATEITERATEFAST 22

#7 PRODUCT MARKET FITPIVOTGET CLOSER TO PRODUCT MARKET FIT ASAPA COMPANY HAS PRODUCT MARKET FIT WHEN ITHAS FOUND A PRODUCT THAT CUSTOMERSREALLY WANT. 23

PRODUCT MARKET FITMEASURE PMFASK YOUR CUSTOMERS“WOULD YOU BE SAD IF THE PRODUCTWILL NO LONGER EXIST?” HOW MANY CHOOSE VERY DISAPPOINTED? <25% 25-39% >40% your product ok, you may pivot it’s time for sucks a little scale up 24

PIVOThttp://www.businessmodelgeneration.com/ 25

#8 CHARGE FROM DAY 1 PEOPLE PAY IF THEY CAN SOLVE A REAL PROBLEM 26

#9 AAARR@davemclure 27http://500hats.typepad.com/500blogs/2007/09/startup-metrics.html

#10 SPLIT TESTING 28

#11 FIX PROBLEMS MAKE ONE ERROR ONLY ONCE! ASK WHY 5 TIMES. http://en.wikipedia.org/wiki/5_Whys http://www.startuplessonslearned.com/ 2009/07/how-to-conduct-five-whys-root- cause.html 29

#12 RESOURCES• http://www.startuplessonslearned.com• http://steveblank.com/• https://www.socrated.com/user_courses/226• http://leanstartup.pbworks.com• http://www.slideshare.net/search/slideshow? q=leanstartup• http://www.google.ch/#hl=en&q=leanstartup

#13 BE SUCCESSFUL STOP CREATING PRODUCTS PEOPLE DON’T WANT! LISTEN! SOLVE A PAIN! DO IT LEAN! -> Customer Development -> Agile Product Development 31

THXwww.twitter.com/lukasfischerwww.facebook.com/netnode.chwww.netnode.ch 32

DISCUSSION• IS YOUR STARTUP LEAN?• DOES IT WORK FOR YOU?• WHAT DO YOU THINK?• WHAT IS YOUR EXPERIENCE? 33

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The Lean Startup - Basics

by Lukas Fischer on Feb 20, 2011

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