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Lean 101
 

Lean 101

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    Lean 101 Lean 101 Presentation Transcript

    • Lean 101 @rafaelbalbijr//rafael@leanstartupmachine.comThursday, January 31, 13
    • Thursday, January 31, 13
    • About Me Rafael Balbi On twitter @rafaelbalbijr • Lean Startup Machine Director of Operations • Helped a VC raise 5MM USD • Skillshare Master Teacher on Lean // Business Models • Founder of not 1 but 2 failed startupsThursday, January 31, 13
    • SingaporeThursday, January 31, 13
    • SantiagoThursday, January 31, 13
    • Sao PauloThursday, January 31, 13
    • London Sydney Beijing New York San FranThursday, January 31, 13
    • 200 WORKSHOPS IN 2013 New York Philadelphia San Diego Shanghai Moscow Riyadh Boston Los Angeles Toronto Karachi Tel Aviv Sao Paolo Chicago Washington DC Montreal Lahore Milan London Austin San Francisco Tokyo Dubai AmsterdamThursday, January 31, 13
    • Making Sh* HappenThursday, January 31, 13
    • Funded Startups Instacanvas Borrowmydog.gy Branch.comThursday, January 31, 13
    • LET’S ADVANCE THE SCIENCE OF ENTREPRENEURSHIPThursday, January 31, 13
    • Let’s break some ice About Me//About YouThursday, January 31, 13
    • The AbyssThursday, January 31, 13
    • Lean I will code I will get funding, I will write a business planThursday, January 31, 13
    • Don’t be a super heroThursday, January 31, 13
    • There’s an easier way A Startup, is a human institution designed to create and build new products and services under conditions of extreme uncertainty… – Eric RiesThursday, January 31, 13
    • Lean is about...Thursday, January 31, 13
    • Experiment - An operation or procedure carried out in order to discover and test Planning - A detailed proposal for doing or achieving something.Thursday, January 31, 13
    • Experimenting vs PlanningThursday, January 31, 13
    • Thursday, January 31, 13
    • What is “waste” in a startup? • Building the wrong thing • Pre-mature optimizationThursday, January 31, 13
    • Successful startups pivot • YouTube, Facebook, PayPal • Twitter, InstagramThursday, January 31, 13
    • Make data-driven decisions • Increase team transparency • Move fasterThursday, January 31, 13
    • Build//Measure//LearnThursday, January 31, 13
    • Some Context Day Month Year No. Who are our Key Partners? What Key Activities do our Value Propositions require? What value do we deliver to the customer? What type of relationship does each of our Customer For whom are we creating value? Who are our key suppliers? Our Distribution Channels? Which one of our customer’s problems are we helping to solve? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? What bundles of products and services are we offering to each Customer Segment? Which ones have we established? Which Key Activities do partners perform? Revenue streams? Which customer needs are we satisfying? How are they integrated with the rest of our business model? How costly are they? What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? want to be reached? Revenue Streams? How are we reaching them now? How are our Channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues? This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.Thursday, January 31, 13
    • What a VC taught me.. Concept Phase Execution Phase Value Prop// //ManagementCustomer Segment// //SystemsThursday, January 31, 13
    • Lean Business Models Get to your first sale as quickly as possible! Break it! -> PushThursday, January 31, 13
    • Build//Hypothesize • What’s your idea/ problem that you want to solve? • Customer? •Thursday, January 31, 13
    • Measure//Test Customer Development - Get out of the building Putting what we’ve built in front of peopleThursday, January 31, 13
    • Learn//Iterate Gain Knowledge ImplementThursday, January 31, 13
    • Build//Measure//LearnThursday, January 31, 13
    • MVP • The minimal amount of effort you have to exert to complete one turn around the Build-Measure- Learn loop. - Eric Ries • MVP ≠ functioning productThursday, January 31, 13
    • MVP • MVP = Minimal Viable ExperimentThursday, January 31, 13
    • Goals of MVP Maximize Learning Minimize opportunity cost Rapid Testing + IterationThursday, January 31, 13
    • Types of MVP Exploration Pitch ConciergeThursday, January 31, 13
    • Thursday, January 31, 13
    • Exploration An interaction with customers problems to understand behaviorThursday, January 31, 13
    • Pitch Working towards a solution Pitching the customer on a solution with the intent of gaining back some form of validation (email signup, cash, letter of intent)Thursday, January 31, 13
    • Pitch 1. Decreasing Discount 2. Meta 3. InnovatorThursday, January 31, 13
    • Thursday, January 31, 13
    • Thursday, January 31, 13
    • Concierge Manually delivering on the solution Minimal code, pulling+pushing levers No automationThursday, January 31, 13
    • Concierge 1. One use case 2. Real life simulationThursday, January 31, 13
    • Customer DevelopmentThursday, January 31, 13
    • Customer Development is the process by which we go out and test our hypothesis and assumptionsThursday, January 31, 13
    • Customer Development… 1. Sucks…it hurts, a lot 2. Is the cornerstone and key of LEAN 3. Lot’s of Cust Dev Leads to ResultsThursday, January 31, 13
    • When is enough, enough? Look for a PatternThursday, January 31, 13
    • CUSTOMERThursday, January 31, 13
    • Persona Development Project Name: Team Leader Name: Experiment #: Person Pain Factual information State the problem you believe about your target customer. your target customers have, that your solution solves for. Behavior Goals Existing behavior they exhibit now, What goals are they trying to accomplish because they don’t have your solution. through the behavior, that your solution will do better?Thursday, January 31, 13
    • Get Out of the Building “No business plan survives first contact with customers.” - Steve BlankThursday, January 31, 13
    • What’s the point? • Uncovers how users think and behave • Validates assumptions/removes bias • Shows difference between intent and reality • Provides direction and data instead of opinion or speculation • Provides the ability to inform designThursday, January 31, 13
    • It is NOT • Multiple Choice Surveys • Focus Groups • Your Personal (Biased!) Experience • Conversations with FriendsThursday, January 31, 13
    • Effective InterviewingThursday, January 31, 13
    • Go in with 2 to 3 objectives and have a real conversation. Brant Cooper Know your goals and questions. Giff Constable Use a script. Ash MauryaThursday, January 31, 13
    • No Selling AllowedThursday, January 31, 13
    • 3 Point Interview 1. Do You {insert problem} 2. Tell me a story about the last time you dealt with {insert problem} 3. What’s your ideal solution for {insert problem}Thursday, January 31, 13
    • Track Data • Write everything down RIGHT after • Set up time to evaluate data • Have one location where everything is storedThursday, January 31, 13
    • Validation BoardThursday, January 31, 13
    • Thursday, January 31, 13
    • Thursday, January 31, 13
    • “A startup’s runway is the number of pivots it can still make.” -Eric RiesThursday, January 31, 13
    • GOAL: Decrease Cash Spent Between PivotsThursday, January 31, 13
    • GOAL: Decrease Cash Spent Between Pivots PRODUCT = EXPERIMENTThursday, January 31, 13
    • GOAL: Decrease Cash Spent Between Pivots PROGRESS = PRODUCT = VALIDATED EXPERIMENT LEARNINGThursday, January 31, 13
    • Ok...so?Thursday, January 31, 13
    • What a VC taught me... VC’s invest to get a return on $$$ -want $ back w/ i* Raise skillset...lessen risk...raise probability of fundingThursday, January 31, 13
    • Business Models Concept Phase Execution Phase Value Prop// //ManagementCustomer Segment// //Systems want to get out of concept phase as quickly as possible. business become profitable at SCALEThursday, January 31, 13
    • Ok...so?Thursday, January 31, 13
    • 3D printing - will do to hardware what the internet did to software Nanotech Singularity Robotics Africa/China/Brasil/ IndiaThursday, January 31, 13
    • leanstartupmachine.co m validationboard.com rafael@leanstartupmachine.com @rafaelbalbijrThursday, January 31, 13