Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup BCN :: Inaugural Meeting Lean Startup Introduction @JaumeTeixi Barcelona 29/03/2012

Entrepreneur

The Business Model Canvas

StartupA startup is an organization formed tosearch for a repeatable and scalablebusiness model.2010, Steve BlankA startup is a human institutiondesigned to deliver a new product orservice under conditions of extremeuncertainty.2010, Eric Ries

Customer DevelopmentTest the founders hypothesis aboutthe customer problemTest if the product concept andminimum feature set solve thatproblemSteve Blank

Lean StartupThe use of platforms enabled by OpenSource and Free SoftwareThe application of Agile DevelopmentMethodologiesFerocious customer-centric RapidIteration, as exempliﬁed by theCustomer Development process.2008, Eric Ries

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The Lean Startup - Why?assumptionsIt’s Obvious that Everybody Wants It!...Obviously with All this Features!...and sure with this Pricing Model!...discover too late thatthere aren’t customers!Value of The Idea = 0.00*Validated Product has Value! > 0.00*

The Lean Startup - Path To SuccessFail, Iterate, Don’t Give Up,but Learn !Bounce Back ...Until You FindProduct/Market Fit...Without Running Out of Money

The Lean Startup

The Lean StartupProduct Development Team Tackles the Solution in parallel withCustomer Development Team Testing The Problem-Customer-Solution Assumptions

Agile Software DevelopmentUse of Open Source Frameworks, ToolsCode, Test Permanently->Continuous DeploymentDocument MeanwhileKanban BoardBacklog -> In Process -> Finished -> VALIDATEDblossom.io kanbanery.com

Customer Development1) Search for a Business (iterate) Customer Discovery pivoting Customer Validation2) Growth a Business (execution) Customer Creation Company Building

The Lean Startup Loop

MVP Minimum Viable ProductAsk Minimal Required Needs toPotential Customers/Early EvangelistsCollect the maximum amount ofvalidated learning about customerswith the least effort1) What are you trying to Learn?2) With which Data?3) What Measures Success/Failure?

MetricsVanity Metrics vs Actionable Accessible Auditable

Pivot Or PersevereYour Idea is Probably WrongA Pivot is a special kind of changedesigned to test a new fundamentalhypothesis about the product, businessmodel, and engine of growthNintendo ~ From Hanafuda CardsPayPal ~ From Palm Money WalletFlickr ~ From MMO

Lean Startup 5 Principles

Lean Startup 5 Principles1 Entrepreneurs Are EverywhereThe goal is NOT to optimize for proﬁt,margin, or growth.The goal is that any change thataccelerates learning is a win, andeverything else is waste.

Lean Startup 5 Principles2 Entrepreneurship is ManagementA set of management principles thatseek to test assumptions andeliminate unknowns.By talking to customers…By building simple products…By measuring the effect of our work...

Lean Startup 5 Principles3 Validated LearningConstantly experimenting with newproduct features and productmarketing to increase the yield on eachnew crop of customers they bring in.Learn what works and what doesnt.

Lean Startup Principles4 Innovation Accounting1) Use a minimal viable product MVP2) From the Baseline to the Ideal3) Persevere or Pivot

Lean Startup 5 Principles5 Build-Measure-LearnIdeas -> Code -> Datatheleanstartup.com/principles

Lean Startup Top 5 Myths

Lean Startup Top 5 MythsMyth 1 Lean means cheap. Leanstartups try to spend as little moneyas possible.The Lean Startup method is not aboutcost, it is about speed.

Lean Startup Top 5 MythsMyth 2 The Lean Startup methodologyis only for Web 2.0, Internet andconsumer software companies.The Lean Startup methodology appliesto all companies that faceuncertainty about what customers willwant.

Lean Startup Top 5 MythsMyth 3 Lean Startups arebootstrapped startups.What differentiates them is theirdisciplined approach to determiningwhen to spend money.

Lean Startup Top 5 MythsMyth 4 Lean Startups are very smallcompaniesEstablished companies have asmuch to gain from lean startuptechniques as the mythical “two guysin a garage”

Lean Startup Top 5 MythsMyth 5 Lean Startups replace visionwith data or customer feedbackLean Startups are driven by acompelling vision, and they arerigorous about testing each elementof this vision against reality.http://reut.rs/GXW3Vd

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In Case Youre Sleeping...Steve Blank steveblank.comEric Ries startuplessonslearned.com

Lean Startup BCN :: Inaugural Meeting Thank You! @JaumeTeixi Barcelona 29/03/2012

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Introduction to Lean Startup » Lean Startup Barcelona

by Jaume Teixi

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