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

1. Lean Startup Applied
Thursday, March 21st, 2013

2. Who Am I?
Sam Hysell
@shysell13
Strategic Partnerships @ LSM

3. OUR MISSION:
ADVANCE THE
SCIENCE OF
ENTREPRENEURSHIP

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. Lean Manufacturing
The expenditure of resources for any goal
other than the creation of value for the end
customer is wasteful

6. What is Lean Startup?
A process involving rapid and iterative
experimenting to test assumptions and develop
a product that customers actually want.

7. What is Lean Startup?
A process involving rapid and iterative
experimenting to test assumptions and develop
a product that customers actually want.

8. What is Lean Startup?
A process involving rapid and iterative
experimenting to test assumptions and develop
a product that customers actually want.

9. What is Lean Startup?
A process involving rapid and iterative
experimenting to test assumptions and develop
a product that customers actually want.

10. Startups that succeed are those that manage
to iterate enough times before running out of
resources
Eric Ries

11. Focus on what works, but more importantly,
what doesn’t, so you can pivot before you’re out
of resources.

12. Pivot:
A change in strategy without a change in vision

13. Why Do Most Startups Fail?

14. Most of the time, it’s not because the product/
service couldn’t be built...

15. It’s because nobody wanted it!

17. No business plan survives first contact with a
customer
Steve Blank

18. Neonurture

19. Neonurture
“Design That Matters learned an important lesson from
the experience -- that good design must keep in mind
who will procure equipment, who will be using it, as well
as the myriad ways it could be used incorrectly. As
Timothy says, "There's no such thing as a dumb user;
there are only dumb products.”

20. “My Solution is Awesome”

21. Lean Startup
Not can it be built
but...

22. Should it be built?!
Ex. Neonurture

23. Get Out of The Building
Invalidate My Assumptions
Fail Fast. Succeed Faster.

25. What Takes You 6
Months Took Me 3
Days

26. A startup is a human institution designed to
deliver a new product or service under
conditions of extreme uncertainty.
Eric Ries

27. Replace uncertainty
with data

29. Your mistake was in unthinkingly treating what
you imagined as though it were an accurate
representation of the facts
Dan Gilbert

30. Feynman Chaser - The Key to Science
http://youtu.be/b240PGCMwV0

31. So You Have a Good Idea?

32. Prove It!

33. 3 Startup Stages
- Pre-product Validation
- Product Building
- Scale

34. Turn assumptions into hypothesis

35. Step 1 of pre-product validation
Customer Development

36. Customer Development
Problem/Customer fit. No solutions.

37. Customer Development
Customers don’t care about your solution.
They care about their problems.
Dave McClure

38. How?
Getting out of the building (GOOB’ing)

39. Why?

40. Minimum Viable Product (MVP)
Experiments designed to invalidate
your riskiest assumption
Maximize customer
learnings, minimize waste

41. MVP Stages
- Exploration - Find Pain
- Pitch - Measure Demand
- Concierge - Productize

42. MVP Stages
- Exploration - Find Pain
- Pitch - Measure Demand
- Concierge - Productize

43. Exploration
Get your idea out of your head,
go to where your customers
are.
Talk to them.
And be prepared to prove
yourself wrong.

44. Pitch - Measure Demand
Value Proposition
in exchange for
Currency

45. MVP Stages
- Exploration - Find Pain
- Pitch - Measure Demand
- Concierge - Productize

46. Skillshare

47. Skillshare - Concierge

48. Food On The Table

49. Any Service