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2010 04 23 Startup Lessons Learned conference welcome slides by Eric Ries #sllconf
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2010 04 23 Startup Lessons Learned conference welcome slides by Eric Ries #sllconf

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Presented by Eric Ries at http://sllconf.com on April 23, 2010 in SF

Presented by Eric Ries at http://sllconf.com on April 23, 2010 in SF

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  • Thank you: sponsors, mentors, volunteers, Charles, David, Erin
  • Conference structure
  • Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
  • Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
  • Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
  • Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.
  • Transcript

    • 1. Welcome
      #leanstartup
      #sllconf
      Eric Ries (@ericries)
      http://StartupLessonsLearned.com
    • 2. Entrepreneurship = Awesome
      It is the best time in the history of the world to be an entrepreneur
      Costs are falling in all industries
      Barriers are being destroyed
      Disruption and chaos are everywhere
    • 3. Why build a startup?
      Only entrepreneurship combines these three elements
      Change the world
      Build an organization of lasting value
      Make customers’ lives better
    • 4.
    • 5. What is a startup?
      • A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
      • 6. Nothing to do with size of company, sector of the economy, or industry
    • Entrepreneurship is management
      • Our goal is to create an institution, not just a product
      • 7. Traditional management practices fail
      - “general management” as taught to MBAs
      • Need practices and principles geared to the startup context of extreme uncertainty
      • 8. Not just for “two guys in a garage”
    • Making Progress
      • In a lean transformation, question #1 is – which activities are value-creating and which are waste?
      • 9. In traditional business, value is created by delivering products or services to customers
      • 10. In a startup, the product and customer are unknowns
      • 11. We need a new definition of value for startups:validated learning about customers
    • Minimize TOTAL time through the loop
    • 12. There’s much more…
      Build Faster
      Unit Tests
      Usability Tests
      Continuous Integration
      Incremental Deployment
      Free & Open-Source
      Components
      Cloud Computing
      Cluster Immune System
      Just-in-time Scalability
      Refactoring
      Developer Sandbox
      Minimum Viable Product
      Learn Faster
      Split Tests
      Customer Interviews
      Customer Development
      Five Whys Root Cause
      Analysis
      Customer Advisory Board
      Falsifiable Hypotheses
      Product Owner
      Accountability
      Customer Archetypes
      Cross-functional Teams
      Semi-autonomous Teams
      Smoke Tests
      Measure Faster
      Funnel Analysis
      Cohort Analysis
      Net Promoter Score
      Search Engine Marketing
      Real-Time Alerting
      Predictive Monitoring
      Measure Faster
      Split Tests
      Clear Product Owner
      Continuous Deployment
      Usability Tests
      Real-time Monitoring
      Customer Liaison
    • 13.
    • 14. Myth #1
      Myth
      Lean means cheap. Lean startups try tospend as little money as possible.
      Truth The Lean Startup method is not about cost,it is about speed.
    • 15. Myth #2
      Myth
      The Lean Startup is only forWeb 2.0/internet/consumer software companies.
      Truth The Lean Startup applies to all companies that face uncertainty about what customers will want.
    • 16. Myth #3
      Myth
      Lean Startups are small bootstrapped startups.
      Truth Lean Startups are ambitious and are able
      to deploy large amounts of capital.
    • 17. Myth #4
      Myth
      Lean Startups replace vision with dataor customer feedback.
      Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision
    • 18. Today
      What does progress look like in a startup?
      How do you know it’s time to pivot?
      What is the minimum viable product?
      Do Lean Startup methods scale?
      What is the role of design?
      How do we reconcile vision and customer data?