Presentation to NY Tech Meetup Student Group

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My presentation to NYTM Student Group on 5/4/10 at Dogpatch Labs NYC. I talked about Lean Startups and the many joys of starting a company.

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  • Great engineers understand what customers need
  • Great engineers understand what customers need
  • Great engineers understand what customers need
  • Story: Paypal starts out as an application that securely stores encryption keys on Palm Pilots. Realizes that no one wants this. What other product can they make? Figures that they're good with security, so how about a way to transfer money securely from Palm to Palm? Then, realize that more people are using the online demo than the Palm application. Pivot to the web-based model, becomes #1 online payment platform.

  • Story: Paypal starts out as an application that securely stores encryption keys on Palm Pilots. Realizes that no one wants this. What other product can they make? Figures that they're good with security, so how about a way to transfer money securely from Palm to Palm? Then, realize that more people are using the online demo than the Palm application. Pivot to the web-based model, becomes #1 online payment platform.

  • Story: Paypal starts out as an application that securely stores encryption keys on Palm Pilots. Realizes that no one wants this. What other product can they make? Figures that they're good with security, so how about a way to transfer money securely from Palm to Palm? Then, realize that more people are using the online demo than the Palm application. Pivot to the web-based model, becomes #1 online payment platform.


  • Dropbox - not only validate worth of product, but learn exactly what to build
  • Dropbox - not only validate worth of product, but learn exactly what to build









  • Case in point: LearnBat - alpha with $3K
  • Case in point: LearnBat - alpha with $3K
  • Case in point: LearnBat - alpha with $3K
  • Case in point: LearnBat - alpha with $3K



  • Living with a purpose - transformative experience
  • Living with a purpose - transformative experience
  • Living with a purpose - transformative experience








  • Presentation to NY Tech Meetup Student Group

    1. 1. DYI Entrepreneurship *Intro to Lean Startups by San Kim
    2. 2. Agenda
    3. 3. Agenda What is Lean Startup? (Hint: lean != cheap)
    4. 4. Agenda What is Lean Startup? (Hint: lean != cheap) How Lean Startup makes founders' lives easier
    5. 5. Agenda What is Lean Startup? (Hint: lean != cheap) How Lean Startup makes founders' lives easier Why you should start a company
    6. 6. Pre-assumptions
    7. 7. Pre-assumptions You are not interested solely on money
    8. 8. Pre-assumptions You are not interested solely on money You are intrigued by the idea of creating something from nothing
    9. 9. Pre-assumptions You are not interested solely on money You are intrigued by the idea of creating something from nothing You want to create something BIG
    10. 10. What Is a Startup
    11. 11. What Is a Startup Not small version of big company
    12. 12. What Is a Startup Not small version of big company Startups operate in extreme uncertainty.
    13. 13. What Is a Startup Not small version of big company Startups operate in extreme uncertainty. Need to throw away some rules that apply to big companies
    14. 14. Why Do Startups Fail?
    15. 15. Why Do Startups Fail? NOT because of tech
    16. 16. Why Do Startups Fail? NOT because of tech #1 Reason: No one wants the product
    17. 17. Old Venture Model
    18. 18. Old Venture Model Raise money > Build in secret > Huge launch
    19. 19. Old Venture Model Raise money > Build in secret > Huge launch What if no one wants it?
    20. 20. Lean Startup
    21. 21. Lean Startup You the founder do not know exactly what kind of product the customer wants/needs.
    22. 22. Lean Startup You the founder do not know exactly what kind of product the customer wants/needs. Your job is to use customer feedback to rapidly pivot to reach product/market fit before running out of money.
    23. 23. Customer Feedback
    24. 24. Customer Feedback Not just numbers (Google Analytics)
    25. 25. Customer Feedback Not just numbers (Google Analytics) “Get out of the building”
    26. 26. Customer Feedback Not just numbers (Google Analytics) “Get out of the building” If you’ve never sold to customers, you’ll never be a great entrepreneur
    27. 27. The Pivot
    28. 28. The Pivot Going from one iteration to the next based on customer feedback
    29. 29. The Pivot Going from one iteration to the next based on customer feedback Keeping what works, changing what doesn’t.
    30. 30. The Pivot Going from one iteration to the next based on customer feedback Keeping what works, changing what doesn’t. Case in point: Paypal
    31. 31. Lean Feedback Loop
    32. 32. Minimum Viable Product
    33. 33. Minimum Viable Product Only the core features necessary to put in front of customers
    34. 34. Minimum Viable Product Only the core features necessary to put in front of customers Ex: Buggy alpha, landing page, screenshots, video
    35. 35. Product/Market Fit
    36. 36. Product/Market Fit Product is validated by the market
    37. 37. Product/Market Fit Product is validated by the market Marketing & sales proven to be effective and repeatable
    38. 38. Product/Market Fit Product is validated by the market Marketing & sales proven to be effective and repeatable Minimize burn until you get to P/M fit
    39. 39. After P/M Fit SPEND LIKE CRAZY!
    40. 40. Don’t Sweat the Big Stuff
    41. 41. Don’t Sweat the Big Stuff Sales/PR/Marketing
    42. 42. Don’t Sweat the Big Stuff Sales/PR/Marketing Management
    43. 43. Don’t Sweat the Big Stuff Sales/PR/Marketing Management Infrastructure
    44. 44. Don’t Sweat the Big Stuff Sales/PR/Marketing Management Infrastructure Crazy features
    45. 45. Don’t Sweat the Big Stuff Sales/PR/Marketing Management Infrastructure Crazy features Raising Money
    46. 46. Raising Money
    47. 47. Raising Money NO ONE will fund you without a product
    48. 48. Raising Money NO ONE will fund you without a product NO ONE will fund you without traction
    49. 49. Raising Money NO ONE will fund you without a product NO ONE will fund you without traction “$50K is the new $5MM”
    50. 50. Raising Money NO ONE will fund you without a product NO ONE will fund you without traction “$50K is the new $5MM” LearnBat alpha: $3K
    51. 51. DO Worry About
    52. 52. DO Worry About Participating in community
    53. 53. DO Worry About Participating in community - “Startup Karma”
    54. 54. DO Worry About Participating in community - “Startup Karma” Learning like crazy from others
    55. 55. Startup Pros:
    56. 56. Startup Pros: Change the world, create something out of nothing
    57. 57. Startup Pros: Change the world, create something out of nothing REALLY fun
    58. 58. Startup Pros: Change the world, create something out of nothing REALLY fun Living with a purpose
    59. 59. What If I Fail?
    60. 60. What If I Fail? Will have gained:
    61. 61. What If I Fail? Will have gained: • Enormous experience
    62. 62. What If I Fail? Will have gained: • Enormous experience • AWESOME resume item
    63. 63. What If I Fail? Will have gained: • Enormous experience • AWESOME resume item Better & cheaper than biz school
    64. 64. Key Takeaways
    65. 65. Key Takeaways • Engage customers early and often - "Get out of the building"
    66. 66. Key Takeaways • Engage customers early and often - "Get out of the building" • Start building today.
    67. 67. Key Takeaways • Engage customers early and often - "Get out of the building" • Start building today. • Join the NYC startup community today.
    68. 68. Links • Steve Blank http://ecorner.stanford.edu/authorMaterialInfo.html? mid=2056 (Click podcast > download mp3) • Eric Ries http://www.vimeo.com/7345172 (slides: http:// www.slideshare.net/startuplessonslearned/2009-09-21-the-lean- startup-seedcamp-edition) • Sean Ellis http://startup-marketing.com/the-startup-pyramid/ • Steve Blank http://venturehacks.com/articles/cheap-startups • venturehacks.com

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