Lean Startup & Analytics

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Lean Startup & Analytics

  1. 1. Speaker  Series  RUNNING  LEAN  
  2. 2. Lean St artupLean A nalytic s h3p://www.flickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/  
  3. 3. A BIT ABOUT ME•  SERIAL ENTREPRENEUR•  MENTOR & ADVISOR•  BIG BELIEVER IN LEAN…
  4. 4. Running LeanPowers the Best Startups
  5. 5. The Seven Myths ofLean Startups
  6. 6. #1: Lean means cheapSure it’s cheaper to start companies but it still costs money to scale them. The lesson is simply this: know when to hack and know when to scale.
  7. 7. #2: Lean means small You need a Big Vision to Win. DREAM BIG!
  8. 8. #3: Lean means, well…crappyAn MVP is meant to be a minimalistic version of your product, but it also has to be viable.
  9. 9. #4: Pivot is a Bad WordThe future is a road paved with changes ahead.
  10. 10. Don’t be afraid to PivotListen to what you’re the market is telling you.
  11. 11. A ClassicPivotMoney transfer via a PalmPilot. Sounds crazy, right?
  12. 12. Eventually became PayPalIn October 2002, PayPal was acquired by eBay for $1.5-Billion
  13. 13. h3p://www.smallbiztechnology.com/archive/2012/07/learning-­‐from-­‐failure.html/  
  14. 14. #5: Lean is only for consumer startups Lean Startup has gained most of its adoption amongst consumer startups, but it applies across the board.
  15. 15. #6: Lean means easy Startups are hard. Lean simply helps mitigate risk and clear the path a bit more, but it’s not easy. h3p://www.flickr.com/photos/sabaNzer/6360925767/sizes/l/  
  16. 16. h3p://www.flickr.com/photos/laNtudes/66424863/sizes/l/  #7: Lean means instant successYou can’t walk through the process and expect to win. It takes guts, luck, brains and much, more more.
  17. 17. The Seven Myths ofLean Startups#1: Lean doesn’t mean cheap#2: Lean doesn’t mean small#3: Lean doesn’t mean crappy#4: Don’t be afraid to pivot#5: Lean isn’t only for consumer startups#6: Lean doesn’t mean easy#7: Lean doesn’t mean instant success
  18. 18. Lean does mean makinginformed decisions.
  19. 19. For most startups, leanmeans measuring:1.  Acquisition2.  Activation3.  Retention4.  Referral5.  Revenue
  20. 20. Not listening to what the metrics are telling you can spell disaster.
  21. 21. Know When to PivotLack Revenue| High Churn| Poor Conversions
  22. 22. Know When to ScaleAdoption | Conversions| Market Share h3p://www.flickr.com/photos/lanier67/4047779644/sizes/l/in/photostream/  
  23. 23. Lean means stop guessingFinding that one metric that tracks your progress towards a goal.
  24. 24. Balancing ActMost successful entrepreneurs have a good balance of execution intuition and luck.  h3p://www.flickr.com/photos/classblog/5136926303/sizes/l/in/photostream/  
  25. 25. Most startups fail because the founders give up  h3p://www.flickr.com/photos/kcnickerson/1008563510/  
  26. 26. Hard Work Pays Off…So Don’t Give Up!
  27. 27. Recommended ReadingLean Startup | Lean Analytics | Running Lean
  28. 28. Contact Me: E-Mail: jthompson@about.me Twitter: @thomjeff Some  of  the  photographs  in  this  presentaNon  were  retrieved  from  Flickr  and  made  available  under  a  CreaNve  Commons  license.  Please  refer  to  each  photograph  for  a  link  to  the  image  source.  

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