Lean Startup 101

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The core process behind using Lean Startup to create customer value and new products in uncharted territory.

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Lean Startup 101

  1. 1. Lean Startup AppliedThursday, March 21st, 2013
  2. 2. Who Am I? Sam Hysell @shysell13Strategic Partnerships @ LSM
  3. 3. OUR MISSION:ADVANCE THESCIENCE OFENTREPRENEURSHIP
  4. 4. What You Got Yourself Into What It Means to Be Lean Why Startups Fail Running a Lean Startup for Social Good Validation Board
  5. 5. Lean ManufacturingThe expenditure of resources for any goalother than the creation of value for the end customer is wasteful
  6. 6. What is Lean Startup? A process involving rapid and iterativeexperimenting to test assumptions and develop a product that customers actually want.
  7. 7. What is Lean Startup? A process involving rapid and iterativeexperimenting to test assumptions and develop a product that customers actually want.
  8. 8. What is Lean Startup? A process involving rapid and iterativeexperimenting to test assumptions and develop a product that customers actually want.
  9. 9. What is Lean Startup? A process involving rapid and iterativeexperimenting to test assumptions and develop a product that customers actually want.
  10. 10. Startups that succeed are those that manageto iterate enough times before running out of resources Eric Ries
  11. 11. Focus on what works, but more importantly,what doesn’t, so you can pivot before you’re out of resources.
  12. 12. Pivot:A change in strategy without a change in vision
  13. 13. Why Do Most Startups Fail?
  14. 14. Most of the time, it’s not because the product/ service couldn’t be built...
  15. 15. It’s because nobody wanted it!
  16. 16. No business plan survives first contact with a customer Steve Blank
  17. 17. Neonurture
  18. 18. Neonurture“Design That Matters learned an important lesson from the experience -- that good design must keep in mindwho will procure equipment, who will be using it, as well as the myriad ways it could be used incorrectly. As Timothy says, "Theres no such thing as a dumb user; there are only dumb products.”
  19. 19. “My Solution is Awesome”
  20. 20. Lean Startup Not can it be built but...
  21. 21. Should it be built?! Ex. Neonurture
  22. 22. Get Out of The Building Invalidate My AssumptionsFail Fast. Succeed Faster.
  23. 23. What Takes You 6Months Took Me 3 Days
  24. 24. A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. Eric Ries
  25. 25. Replace uncertainty with data
  26. 26. Your mistake was in unthinkingly treating what you imagined as though it were an accurate representation of the facts Dan Gilbert
  27. 27. Feynman Chaser - The Key to Science http://youtu.be/b240PGCMwV0
  28. 28. So You Have a Good Idea?
  29. 29. Prove It!
  30. 30. 3 Startup Stages- Pre-product Validation- Product Building- Scale
  31. 31. Turn assumptions into hypothesis
  32. 32. Step 1 of pre-product validationCustomer Development
  33. 33. Customer Development Problem/Customer fit. No solutions.
  34. 34. Customer Development Customers don’t care about your solution. They care about their problems. Dave McClure
  35. 35. How?Getting out of the building (GOOB’ing)
  36. 36. Why?
  37. 37. Minimum Viable Product (MVP)Experiments designed to invalidateyour riskiest assumption Maximize customer learnings, minimize waste
  38. 38. MVP Stages- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
  39. 39. MVP Stages- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
  40. 40. ExplorationGet your idea out of your head, go to where your customers are. Talk to them. And be prepared to prove yourself wrong.
  41. 41. Pitch - Measure DemandValue Proposition in exchange for Currency
  42. 42. MVP Stages- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
  43. 43. Skillshare
  44. 44. Skillshare - Concierge
  45. 45. Food On The Table
  46. 46. Any Service

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