WHAT IS A STARTUP?A human institution designed to create new products andservices under conditions of extreme uncertainty.
WHAT IS A LEAN STARTUP?It makes use of lean principles to build sustainablebusinesses of startups.
VISION STEER ACCELERATE
Test assumptionsValue hypothesis Growth hypothesisThat people will get value That your product will spreadfrom your product and increase in adoption
Launch MVP !!
Goal of a startup is to get validated learning as quickly as possiblea. Use innovation accounting(cohort analysis and split tests to measure what youre learning)b. Continuous and frequent experimentation with real users
Kanban cycle:(backlog, in progress, built, validated)a. Limited number in each bucketb. Cannot move forward in processunless get through validationc. Design everything in mind withvalidation and experimentation
Genchi Gembatsu (get out of the building and interview;see for yourself instead of relying on others reports)
Build Measure Learn cycle
Zoom-in pivot: focus Zoom-inon one feature of a Technology pivot pivotlarger wholeb. Zoom out pivot:whole product needs Zoom outmore features pivotc. Customer segment Channelpivot: focus on one pivotcustomer segmenti. Sign LOIs Customer segmentd. Customer need pivot:change in PIVOT (or pivotunderstanding of real Persevere)neede. Platform pivot:change from app to Engine ofplatform or back growth pivot Customeri. Like creating self- need pivotserve model to createsimilar appsf. Business architecturepivot: high margin/low Valuevol to low margin/high capture Platformvol (or back) pivot pivot Business architectureg. Value capture pivot: pivotdifferent monetization
Sustaining innovation vs.disruptive innovation
Analogs and Antilogs
Sticky Engine of Viral Engine of Growth Growth ENGINES OF GROWTH Paid Engine of Growth
SUMMARY:1. Entrepreneurs are everywhere2. Entrepreneurship is management.3. Validated learning4. Build-Measure-Learn.5. Innovation accounting.