Lean overview
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Transcript

  • 1. The Lean StartupRethinking How to Launch a Startup 1
  • 2. What’s a Startup?A startup is a human institution designed tocreate a new product or service underconditions of extreme uncertainty. 2
  • 3. ServerVault• Pure Startup• $9MM VC Funding• Cutting Edge Technology• Hot Sector - Data Center Hosting• Differentiation - Ultra High Security• Experienced Management Team 3
  • 4. Postmortem• Didn’t know our customers• Overstaffed too soon• Marketing didn’t focus on the customer’s pain points• Board focus on revenue• Never changed strategy 4
  • 5. Foundation Questions• What Problem Do You Solve?• Who’s Got It?• What’s the Impact of the Problem?• What Will They Pay to Make It Go Away? 5
  • 6. The Lean Startup• Eric Ries - Serial Entrepreneur• Published in September 2011• Based on Toyota Lean Manufacturing• A New Way to Launch Startups• Reduce the Risk by Only Building What Customers Want 6
  • 7. Customer Development Model Customer Customer Customer Company Discovery Validation Creation BuildingSource: Steven Blank, “The Four Steps to the Epiphany” 7
  • 8. The Lean Methodology IdeasInnovation Minimum ViableAccounting Product Learn Build Data Product Measure A/B Testing 8
  • 9. Initial Business Plan• Leap of Faith Hypothesis• Drivers of Growth Hypothesis• A Plan to Acquire Validated Learning 9
  • 10. Minimum Viable Product• An absolute bare bones “product” that allows for testing of the initial hypotheses• It may have multiple versions of the functionality• Speed is more important than perfect or even good quality 10
  • 11. An MVP Example 11
  • 12. Listen to Early Adopters 12
  • 13. Drivers of Growth• Word of Mouth• As a Side Effect of Usage• Through Funded Advertising• Through Repeat Purchase or Use 13
  • 14. Running Tests• Embed Google Analytics in the MVP• Use Google AdWords to Target Audience• Run Multiple Tests• Duration Can Be Short as a Day• Price, Features, Workflow, Offer, Audience• Get out of the office and meet customers 14
  • 15. Innovation Accounting• Actionable, Audit-able and Accessible• Don’t fall prey to Vanity Metrics• Pick metrics that test the Leap of Faith hypothesis 15
  • 16. Capture Data That Matters 16
  • 17. Pivot or Full Speed Ahead?• Regularly scheduled review mtgs• Have our actions created positive results?• If yes, continue development on features• If no, pivot 17
  • 18. Tuning the Plan Product Optimization Strategy Pivot Vision 18
  • 19. The Value of Lean Startup• Focus on Solving Real Customer Problems• Don’t Build What’s Not Needed• Faster Time to Market• Greatly Reduced Capital Requirements• Develop Early Stage Fans• Real Data for Future VC Funding 19
  • 20. References• “The Lean Startup” by Eric Reis• “Four Steps to the Epiphany” by Steve Blank• Google Analytics - www.google.com/analytics• Google AdWords - adwords.google.com• Ghostery - www.ghostery.com 20