Running Lean, Ash Maurya, Spark59, USA

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Running Lean, Ash Maurya, Spark59, USA

Running Lean, Ash Maurya, Spark59, USA

  1. 1. RUNNING LEAN Hashtag: #runninglean ASH MAURYA PracticeTrumpsTheory.com ash@spark59.com @ashmaurya
  2. 2. 9/10startups fail products
  3. 3. #1 reason why products fail is because we build the wrong product
  4. 4. Whydoes this happen?
  5. 5. 01 We fall in love with our solution.
  6. 6. ! Solution ! ! ! ! ! ! ! Awesome We built it and we didn’t expect it to be a company, we were just building this because we thought it was awesome. ! - Mark Zuckerberg
  7. 7. 02 Product development gets in the way.
  8. 8. Some learning Very little learning REQUIREMENTS DEVELOPMENT QA RELEASE Most learning happens here
  9. 9. 03 Listening to customers is key, but you have to know how.
  10. 10. If I had asked people what they wanted, they would have said faster horses. ! -Henry Ford
  11. 11. It is not your customer’s job to know what they want. ! -Steve Jobs
  12. 12. How do you build products people want?
  13. 13. RUNNING LEAN http://runninglean.co ! 200+ pages of HOW to do this!
  14. 14. Meta-principles for Running Lean1 Three Stages of a Product2 Case-Studies3
  15. 15. Meta-principles for Running Lean1 Three Stages of a Product2 Case-Studies3
  16. 16. Document your Plan A
  17. 17. Reasonably smart people can rationalize anything but entrepreneurs are especially gifted at this.
  18. 18. Business Model versus Business Plan
  19. 19. Business Model versus Business Plan A document investors make you write that they don’t read
  20. 20. Business Model versus Business Plan A single diagram of your business
  21. 21. Problem ! Top 3 problems Solution ! Top 3 features Unique Value Proposition ! Single, clear, compelling message that states why you are different and worth paying attention Unfair Advantage ! Can’t be easily copied or bought Customer Segments ! Target customers Key Metrics ! Key activities you measure Channels ! Path to customers Cost Structure ! Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams ! Revenue Model Life Time Value Revenue Gross Margin Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PRODUCT MARKET
  22. 22. Problem ! Top 3 problems Solution ! Top 3 features Unique Value Proposition ! Single, clear, compelling message that states why you are different and worth paying attention Unfair Advantage ! Can’t be easily copied or bought Customer Segments ! Target customers Key Metrics ! Key activities you measure Channels ! Path to customers Cost Structure ! Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams ! Revenue Model Life Time Value Revenue Gross Margin Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PRODUCT MARKET
  23. 23. Epiphany: Your business model is the product.
  24. 24. Identify the riskiest parts of your plan Document your Plan A
  25. 25. Building a successful product is fundamentally about risk mitigation.
  26. 26. The true job of an entrepreneur
  27. 27. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams Awesome We built it and we didn’t expect it to be a company, we were just building this because we thought it was awesome. ! - Mark Zuckerberg
  28. 28. ! Solution ! ! ! ! ! ! ! ? Your “solution” is NOT the product
  29. 29. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams ? ? ? ? ? ? ? ? ? Your business model is the product
  30. 30. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams ? ? ? ? ? ? ? Systematically de-risk your vision
  31. 31. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams ? ? ? ? Systematically de-risk your vision
  32. 32. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams ? Systematically de-risk your vision
  33. 33. Problem ! Solution ! Unique Value Proposition ! Unfair Advantage ! Customer Segments ! Key Metrics ! Channels ! Cost Structure ! Revenue Streams Systematically de-risk your vision
  34. 34. Through a series of conversations advisorscustomers investorscompetitors entrepreneur team
  35. 35. Systematically test your plan Identify the riskiest parts of your plan Document your Plan A
  36. 36. IDEAS PRODUCTDATA MEASURE BUILDLEARN What is an Experiment?
  37. 37. IDEAS PRODUCTDATA MEASURE BUILDLEARN Speed
  38. 38. IDEAS PRODUCTDATA MEASURE BUILDLEARN Speed Customer Learning
  39. 39. IDEAS PRODUCTDATA MEASURE BUILDLEARN Speed Focus Customer Learning
  40. 40. LEARNING FOCUS SPEED
  41. 41. LEARNING FOCUS SPEED Chasing your tail
  42. 42. LEARNING FOCUS SPEED Chasing your tail Run out of resources
  43. 43. LEARNING FOCUS SPEED Chasing your tail Run out of resources Premature Optimization
  44. 44. LEARNING FOCUS SPEED Chasing your tail Run out of resources Premature Optimization The optimal learning loop
  45. 45. Systematically test your plan Identify the riskiest parts of your plan Document your Plan A
  46. 46. Meta-principles for Running Lean1 Three Stages of a Product2 Case-Studies3
  47. 47. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Stage 1 Stage 2 Stage 3
  48. 48. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Do I have a problem worth solving?
  49. 49. THE OFFER
  50. 50. UVP
  51. 51. UVPDEMO
  52. 52. UVP PRICING DEMO
  53. 53. THE OFFER THE MVP
  54. 54. An MVP is the smallest solution that delivers customer value.
  55. 55. An MVP is the delivers customer value (BONUS: And captures customer value.)
  56. 56. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE Have I built something people want?
  57. 57. You don’t need lots of users. Just a few good customers.
  58. 58. 3 Stages of a Product PROBLEM/SOLUTION FIT PRODUCT/MARKET FIT SCALE How do I accelerate growth?
  59. 59. Meta-principles for Running Lean1 Three Stages of a Product2 Case-Studies3
  60. 60. Objection: I can see how this can work for X. But it won’t work for me because I do Y.
  61. 61. Objection: Every business is different.
  62. 62. “Happy families are all alike; every unhappy family is unhappy in its own way.” ! - Tolstoy, Anna Karenina
  63. 63. The Goal: Sustainably deliver and capture customer value.
  64. 64. Blog Teaser Page Iterated Time How I Wrote My Book RUN LEAN WITH ANY PRODUCT
  65. 65. 9/10startups fail products
  66. 66. There is no better time than the present to start a business.
  67. 67. THANKS! Get more content like this: http://PracticeTrumpsTheory.com Ash Maurya | Author, Running Lean | Founder, Spark59 | @ashmaurya Life is too short to build something nobody wants
  68. 68. Problem ! Top 3 problems Solution ! Top 3 features Unique Value Proposition ! Single, clear, compelling message that states why you are different and worth paying attention Unfair Advantage ! Can’t be easily copied or bought Customer Segments ! Target customers Key Metrics ! Key activities you measure Channels ! Path to customers Cost Structure ! Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams ! Revenue Model Life Time Value Revenue Gross Margin Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PRODUCT MARKET
  69. 69. Problem Solution Unfair Advantage Key Metrics http://runlean.ly/why-lean-canvas
  70. 70. LOW TECH
  71. 71. Objection: Can’t rely on fancy technology.
  72. 72. HARDWARE
  73. 73. Objection: Can’t iterate quickly.
  74. 74. SERVICES
  75. 75. Objection: Don’t have a product.
  76. 76. THANKS! Get more content like this: http://PracticeTrumpsTheory.com Ash Maurya | Author, Running Lean | Founder, Spark59 | @ashmaurya Life is too short to build something nobody wants

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