Lean startup simplified for learners, entrepreneurs & practitioners

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Lean startup simplified - for learners, entrepreneurs & practitioners

Abhishek Ballabh
Lean Parctitioner
Co - Founder | ExtraAEdge.com

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Lean startup simplified for learners, entrepreneurs & practitioners

  1. 1. THE LEAN STARTUP Abhishek Ballabh Lean Practitioner Co-Founder | ExtraAEdge.com 1
  2. 2. Its a Movement A SET OF PRACTICES TO HELP STARTUPS SUCCEED 2
  3. 3. The Players PEOPLE WHO HAVE PIONEERED THIS THOUGHT PROCESS 3
  4. 4. Eruc Ries is largely Eruc Ries is largely credited with coining the credited with coining the term “Lean Startup”. He term “Lean Startup”. He was inspired by the was inspired by the principles underlying Lean principles underlying Lean Manufacturing to reduce Manufacturing to reduce waste in the process of waste in the process of starting up aabusiness. His starting up business. His new book was just new book was just released released
  5. 5. Steve Blank is one of the Steve Blank is one of the guys who first started guys who first started openly questioning the openly questioning the traditional product-driven traditional product-driven startup cycle and startup cycle and advocates for aacustomeradvocates for customerdriven cycle he calls driven cycle he calls “customer development”. “customer development”. His book is often credited His book is often credited with starting it all. with starting it all.
  6. 6. Brant Cooper is aaserial Brant Cooper is serial entrepreneur who wrote aa entrepreneur who wrote book about the customer book about the customer development cycle development cycle introduced by Steve Blank. introduced by Steve Blank. Think of it as aashort Think of it as short version of “The Four Steps version of “The Four Steps to the Epiphany” to the Epiphany”
  7. 7. Ash Maurya is a Lean Ash Maurya is a Lean Startup practitioner Startup practitioner who created a popular who created a popular blog highlighting lean blog highlighting lean in action. He in action. He subsequently created subsequently created the Lean Canvas (an the Lean Canvas (an approach to visualizing approach to visualizing business models) and business models) and published Running published Running Lean Lean
  8. 8. Video #1 Eric Ries tells us a story about a startup that was not lean http://www.youtube.com/watch?v=PXU
  9. 9. Video #2 Steve Blank gets us pumped up about testing hypotheses and talking to customers really fast http://www.youtube.com/watch?v=_w-N
  10. 10. > 70% fail 10 % earn money 10
  11. 11. WHY? Startups don’t build what customers REALLY want. 11
  12. 12. FAILURE? More startups Fail from a lack of customers than from a failure of product development. 12
  13. 13. LEAN STARTUP A SET OF PRACTICES TO HELP STARTUPS SUCCEED @ERICRIES @SGBLANK (entrepreneur IMVU, StartupsLessonsLearned.com) (Standford, Wrote a book about customer development) 13
  14. 14. WHAT IS A STARTUP? a human institution designed to deliver a product or service under extreme uncertainty experiment 14
  15. 15. A startup is the organization used to search for a scalable business model 15
  16. 16. LIFECYCLE? Search for Business Model STARTUP The execution of the Business Model TRANSITION Large Company -- Business model found Business model found -- Reached Product Market fit Reached Product Market fit -- Repeatable sales model found Repeatable sales model found 16
  17. 17. LEAN STARTUP customer and assumes product is unknown 17
  18. 18. CUSTOMER DEVELOPMENT TEST TEST HYPOTHESES HYPOTHESES CHARGE CHARGE MONEY MONEY START START SALES SALES SCALE SCALE 18
  19. 19. AGILE DEVELOPMENT 19
  20. 20. 20
  21. 21. 21
  22. 22. 13 LEAN STARTUP facts dos donts 22
  23. 23. #1 FORGET WATERFALL 23
  24. 24. #2 LEAN STARTUP TEAM PROBLEM TEAM PROBLEM TEAM SOLUTION TEAM SOLUTION TEAM 24
  25. 25. #3 MINIMUM VIABLE PRODUCT MVP TEST YOUR ASSUMPTIONS BUILD A MVP IN A WEEKEND 25
  26. 26. MVP: CURIOUS CASE OF DROPBOX 3MIN VIDEO ON HACKER NEWS + A EMAIL SIGNUP FORM 26
  27. 27. #4 LESS FEATURES ELIMINATE ELIMINATE DO WE REALLY SOLVE A PROBLEM? 27
  28. 28. #5 EARLYEVANGELISTS FEED BACK VISIONARY CUSTOMERS TELL YOU WHAT 28 FEATURES ARE MISSING
  29. 29. #6 CONTINOUS INTEGRATION ITERATE ITERATE FAST 29
  30. 30. #7 PRODUCT MARKET FIT PIVOT GET CLOSER TO PRODUCT MARKET FIT ASAP A COMPANY HAS PRODUCT MARKET FIT WHEN IT HAS FOUND A PRODUCT THAT CUSTOMERS REALLY WANT. 30
  31. 31. PRODUCT MARKET FIT MEASURE PMF ASK YOUR CUSTOMERS “WOULD YOU BE SAD IF THE PRODUCT WILL NO LONGER EXIST?” HOW MANY CHOOSE VERY DISAPPOINTED? <25% your product sucks 25-39% ok, you may pivot a little >40% it’s time for scale up 31
  32. 32. PIVOT http://www.businessmodelgeneration.com/ 32
  33. 33. #8 CHARGE FROM DAY 1 PEOPLE PAY IF THEY CAN SOLVE A REAL PROBLEM 33
  34. 34. #9 AAARR @davemclure http://500hats.typepad.com/500blogs/2007/09/startup-metrics.html 34
  35. 35. #10 SPLIT TESTING 35
  36. 36. #11 FIX PROBLEMS MAKE ONE ERROR ONLY ONCE! ASK WHY 5 TIMES. http://en.wikipedia.org/wiki/5_Whys http://www.startuplessonslearned.com/2009 /07/how-to-conduct-five-whys-rootcause.html 36
  37. 37. #12 RESOURCES • http://www.startuplessonslearned.com • http://steveblank.com/ • https://www.socrated.com/user_courses/226 • http://leanstartup.pbworks.com • http://www.slideshare.net/search/slideshow? q=leanstartup • http://www.google.ch/#hl=en&q=leanstartup
  38. 38. #13 BE SUCCESSFUL STOP CREATING PRODUCTS PEOPLE DON’T WANT! LISTEN! SOLVE A PAIN! DO IT LEAN! -> Customer Development -> Agile Product Development 38
  39. 39. THX 39
  40. 40. Question for you • IS YOUR STARTUP LEAN? • DOES IT WORK FOR YOU? • WHAT DO YOU THINK? • WHAT IS YOUR EXPERIENCE? 40
  41. 41. References • http://www.amazon.com/Four-Steps-Epiphany-SteveBlank/dp/0989200507 • http://www.amazon.in/The-Lean-Startup-InnovationSuccessful/dp/0670921602?tag=googinhydr5608-21 • http://www.amazon.com/Running-Lean-Iterate-WorksSeries/dp/1449305172 41

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