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Lean Startups Crash Course

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Silicon Flatirons is pleased to host Rally Software's Zach Nies for a Crash Course about some of the surprising science behind building successful startups. Even though building a startup is hard work ...

Silicon Flatirons is pleased to host Rally Software's Zach Nies for a Crash Course about some of the surprising science behind building successful startups. Even though building a startup is hard work with high failure risk, entrepreneurs Steve Blank and Eric Ries have popularized practices that can increase the odds of success. Following the Customer Development or Lean Startup practices will show you what to do. This talk will give you an understanding of why these techniques work, which will allow you to better apply them to your startup or scale them into your enterprise. The event will focus on high growth business based on the deep experience. Entrepreneurs are by nature execution-oriented and you will walk away from the talk with concrete, actionable ideas that will help you make better decisions tomorrow. The subject matter should be relevant to both entrepreneurs creating new companies and entrepreneurs reinventing existing enterprises.

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Lean Startups Crash Course Presentation Transcript

  • 1. Lean StartupsSilicon Flatirons Crash Course
  • 2. h"p://www.flickr.com/photos/nateone/3768979925;
  • 3. Zach Nies @zachnies
  • 4. Why I careabout startups
  • 5. Font Samplerhttp://media.kelbymediagroup.com/layersmagazine/images/columns/artoftype/may06/glyph-set.jpg http://en.wikipedia.org/wiki/File:Caslon-schriftmusterblatt.jpeg
  • 6. 2,500,000 CustomersRevolutionized an industry
  • 7. Amazingteam, culture, product, and process
  • 8. One problem…
  • 9. Bad business
  • 10. Revolutionized nothing
  • 11. Amazing team, culture,product, process
  • 12. I love to change industries
  • 13. Apply new disciplinesto your startup
  • 14. Become disciplined explorers…
  • 15. who know how tobalance exploration and execution
  • 16. Increase yourodds of success
  • 17. What is a startup?
  • 18. How do we navigate that uncertainty?
  • 19. Explore Execute h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 20. When to explore vs execute?
  • 21. Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 22. Where are you?
  • 23. Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 24. What to doExecute Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 25. What to do Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 26. What to do BigCompanies Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 27. BigCompanies h"p://www.flickr.com/photos/ironnickel/6076087519;
  • 28. Startupsh"p://www.flickr.com/photos/elcapitan/2387917709;
  • 29. What to doExecute Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 30. Explore vs. Execute
  • 31. 30 yearsof science
  • 32. Unordered OrderedChaotic Complex Complicated Simple
  • 33. Unordered Ordered Complex ComplicatedChaotic Simple
  • 34. Unordered Ordered Complex Complicated Chaotic Simple
  • 35. Unordered Ordered Complex Complicated Cause & Effect is only Cause & Effect is not understandable in obvious and requires retrospect, and is not analysis or expertise repeatable Cause & Effect is Cause & Effect not obvious to all perceivable and is repeatable Chaotic Simple Cynefin
  • 36. Music Industry in 2000 - Napster Complex Complicated Independent Managing a large tour musicians self publishing online Disorder Managing a NIN tour Major label online Major label CD distribution distribution Chaotic SimpleUnordered Ordered
  • 37. Unordered Ordered E E x x p e l c o u r t e e
  • 38. Unordered Ordered E D e m l e i r b g e e r a n t t e
  • 39. Unordered Ordered P r P e p l a a r n e
  • 40. Unordered Ordered E n t G M r e a e n n p e a r r g e a e n l r e u r
  • 41. Ideal team sizesComplex Complicated < 30 People < 150 People < 7 People > 150 PeopleChaotic Simple
  • 42. Not Black and White Complex Complicated Create Create market buzz sales comp plan Write Increase terms of signups service Disorder Secure Order ; hacked office supplies server Chaotic SimpleUnordered Ordered
  • 43. Market Dynamics Complex Complicated Product/market fit Disorder Chaotic SimpleUnordered Ordered
  • 44. What to doExecute Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 45. Example – Rideorama
  • 46. Brown,;Tim;(2009?09?16).;Change;by;Design;(Kindle;LocaPon;1984).;Harper;Collins,;Inc..;Kindle;EdiPon.;;
  • 47. Market Dynamics Complex Complicated Chaotic SimpleUnordered Ordered
  • 48. h"p://www.flickr.com/photos/virtualeyesee/6107062655;
  • 49. Create a plan topredict the future
  • 50. h"p://www.flickr.com/photos/isaacmao/380257543;
  • 51. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 52. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 53. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 54. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 55. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 56. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 57. Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
  • 58. HOW MANY GUESSES?
  • 59. FIRST CONTACT WITHPOTENTIAL CUSTOMERS
  • 60. h"p://www.flickr.com/photos/oregondot/4132135156;
  • 61. Create an environmentto discover the future
  • 62. How?
  • 63. Entrepreneurship Vision; Culture Business;Model; Frame Frame Frame Frame Build & Ship Build & Ship Build & Ship Build & ShipLearn Learn Learn Learn Test & Measure Test & Measure Test & Measure Test & Measure
  • 64. Disciplined way toturn all these guesses into knowledge
  • 65. h"p://www.richard?feynman.net/gallery.htm;
  • 66. TAKE EACH MAJOR GUESS
  • 67. RUN AN EXPERIMENT
  • 68. h"p://www.youtube.com/watch?v=Iyjs3zeoSrM;
  • 69. How do I run meaningfulexperiments?
  • 70. Maximize learning – Don Reinertsenhttp://jchyip.blogspot.com/2010/05/lean-software-and-systems-conference.html
  • 71. What could go wrong with that?
  • 72. Visionh"p://www.flickr.com/photos/klearchos/4541072707;
  • 73. Lean StartupCustomer Development
  • 74. Explore Execute h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 75. Explore h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 76. Frame Frame Build & Ship Build & Ship LearnLearn Test & Measure Test & Measure Explore h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 77. Startups are NOT smaller versionsof big companies
  • 78. Discover and solvecustomer’s problem
  • 79. “Get out ofthe building!”Steve Blank
  • 80. “Meaningemerges through interaction” Dave Snowden
  • 81. Explore h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 82. Business Model
  • 83. Example – iPod
  • 84. + Margin & Profit Walkman for the digital age Design, Manufacturing, Marketing, Supporth"p://www.flickr.com/photos/mrmonochrome/93535053; h"p://www.flickr.com/photos/75001512@N00/4683351383;
  • 85. h"p://www.flickr.com/photos/virtualeyesee/6107062655;
  • 86. First big guess:We understand theproblem a customer wants solved
  • 87. Who isfeeling the pain?
  • 88. What painare they feeling?
  • 89. How do they makethat pain go away today?
  • 90. “Customers don’t care about your solution. They care about their problems. Dave McClure
  • 91. h"p://www.flickr.com/photos/adacPo/2535502416;
  • 92. Typicalmarket research: Customer attributes
  • 93. h"p://www.flickr.com/photos/serpicolugnut/172616929;
  • 94. Innovationmarket research: Customer circumstances
  • 95. h"p://www.flickr.com/photos/serpicolugnut/172616929;
  • 96. h"p://www.flickr.com/photos/indigoprime/2481346616;
  • 97. h"p://www.flickr.com/photos/twostoutmonks/664314897;
  • 98. Milkshake Test What job isyour solution being hired to perform?
  • 99. Problem Interview OverviewRunning Lean by Ash Maurya, page 118.
  • 100. Example - Iridium
  • 101. 1987
  • 102. 1987 1999 $5.2 B
  • 103. 1987 1999 $5.2 B 30,000 not 42M
  • 104. 1987 1999 $5.2 B 30,000 not 42M Sold for $25M
  • 105. Next big guess: Our productsolves the customer’s job to be done
  • 106. Test yourlow fidelity Minimum Viable Product
  • 107. Solution Interview OverviewRunning Lean by Ash Maurya, page 142.
  • 108. Limited accessto a rough prototype
  • 109. Example - $40 MVP
  • 110. Next big guess:Our business model can be profitable
  • 111. Explore h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 112. Explore h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 113. Next big guess:We can sell our offer or We can acquire and retain users
  • 114. Sell toEarlyvangelists
  • 115. Next guess: We know how toposition our product
  • 116. Product PositioningFor (target customers)Who (have the following problem)The (product name) is a (describe theproduct or solution)That provides (key benefit)Unlike (reference competition),The product/solution (describe the keypoint of competitive differentiation)
  • 117. Next guess:We have the right tools to close customers
  • 118. Next guess:We can acquire andactivate customers
  • 119. Sales Funnelh"p://www.flickr.com/photos/carlagates247/5524789016;
  • 120. Activation Funnelh"p://www.flickr.com/photos/500hats/577630547;
  • 121. Activation Funnelh"p://www.flickr.com/photos/500hats/577630651;
  • 122. Product Roadmap 8/31/10; 10/30/10; 1/?/11; 3/?/11; Release 1 Release 2 Release 3 Release 4Theme: UI Theme: Reporting Theme: Dashboards Theme: AdminFor X, this UI release For <who>, this release For <who>, this release For <who>, this releaseprovides <what value> provides <what value> provides <what value> provides <what value>Key Features: Key Features: Key Features: Key Features: 1. Feature A 4. Feature B’ 7. Feature B’’ 10. Feature F 2. Feature B 5. Feature C’ 8. Feature D’ 11. Feature G 3. Feature C 6. Feature D 9. Feature E
  • 123. Next guess: We have avaluable product
  • 124. Get out and sell
  • 125. h"p://www.flickr.com/photos/Pnfoilraccoon/5555060858;
  • 126. Pivot orPersevere?
  • 127. Executeh"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 128. Explore Execute h"p://www.slideshare.net/sblank/the?startup?owners?manual?sxsw?11954724;
  • 129. Culture
  • 130. Democratize data
  • 131. Distributedecision making
  • 132. Diversity IndependenceDecentralization Aggregation
  • 133. No blame or shame
  • 134. Example
  • 135. Don’t squander your time
  • 136. buildingthe wrong business
  • 137. Do what you love
  • 138. Love what you do
  • 139. Books that informed this talk
  • 140. People who informed this talk David Max Ash ClaytonSnowden Boisot Maurya Christensen Frank H. Eric Knight RiesGeoffrey Steve Moore Blank
  • 141. h"p://www.flickr.com/photos/fla"op341/224597838;
  • 142. @zachnies