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Lean Startups
 

Lean Startups

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This talk reveals 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 ...

This talk reveals 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.

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    Lean Startups Lean Startups Presentation Transcript

    • Lean Startups
    • Zach Nies
    • @zachnies
    • 100 years ago
    • Apply new disciplinesto your startup
    • Become disciplined explorers…
    • who know when to transitioninto execution
    • Increase your odds of success
    • Why Am I Here Today?
    • How I Got Here
    • Font Samplerhttp://media.kelbymediagroup.com/layersmagazine/images/columns/artoftype/may06/glyph-set.jpg http://en.wikipedia.org/wiki/File:Caslon-schriftmusterblatt.jpeg
    • Great business, team and product
    • 2,500,000Customers
    • Amazingteam, culture and process
    • Irrelevant
    • Live inside the Internet
    • What is a startup?
    • How do we navigate that uncertainty?
    • Explore Execute !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • When to explore vs execute? A simple recipe
    • ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • Where are you?
    • ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • What to doExecute ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • What to do ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • What to do BigCompanies ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • BigCompanies !"#$%%&&&R*L2.L56%#!505(%*.5//*L2,)%DC<DCN<:89>
    • Startups!"#$%%&&&R*L2.L56%#!505(%,)L-#*0-/%=SN<98<<C9>
    • What to doExecute ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • Explore vs. Execute Becoming a chef
    • 30 yearsof science
    • Unordered OrderedChaotic Complex Complicated Simple
    • Unordered Ordered An example Chaotic Complex Complicated Simple!"#$%%&&&R*L2.L56%#!505(%2(*5/*L%SNS=;C;DN>
    • Unordered Ordered Complex ComplicatedChaotic Simple
    • Unordered Ordered Complex Complicated Chaotic Simple
    • Unordered Ordered Complex Complicated Cause & Effect is only Cause & Effect is not coherent in retrospect, obvious and requires and not repeatable analysis or expertise Cause & Effect is Cause & Effect not obvious to all perceivable and is repeatable Chaotic Simple
    • Music Industry in 2000 - Napster Complex Complicated Independent Managing a large tour musicians self publishing online Disorder Managing a NIN tour Major label online distribution CD distribution Chaotic SimpleUnordered Ordered
    • Unordered Ordered E E x x p e l c o u r t e e
    • Unordered Ordered P r P e p l a a r n e
    • 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
    • Ideal team sizesComplex Complicated < 30 People < 150 People < 7 People > 150 PeopleChaotic Simple
    • Not Black and White Complex Complicated Create market buzz Sales comp plans Increasing Terms of signups service Disorder > Server Ordering hacked office supplies Chaotic SimpleUnordered Ordered
    • Market Dynamics Complex Complicated Product/market fit Disorder Chaotic SimpleUnordered Ordered
    • What to doExecute ?.5&/@>A*6>B=CC93C938DE>F!-/G,>1H>I,(*G/>BJ*/+),>K5L-M5/>89N;E>O-.#,.>F5))*/(@>P/L>J*/+),>Q+*M5/>>
    • !"#$%%&&&R*L2.L56%#!505(%T*.04-),H,(,,%D8C<CD=D::>
    • Exploring
    • Create a plan thatpredicts the future
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • Market research Product definition Product requirements Detailed plan Alpha release Beta release Final releaseFIRST CONTACT WITH CUSTOMERS
    • HOW MANY GUESSES?
    • CUSTOMER VALIDATION
    • !"#$%%&&&R*L2.L56%#!505(%5.,G5/+50%;8S=8S:8:D>
    • Createan environment that invents the future
    • !"#$%%&&&R*L2.L56%#!505(%.+,L56%;S;S9=S;SN>
    • Disciplined way to turn guesses into knowledge
    • Business Model
    • !"#$%%&&&R*L2.L56%#!505(%T*.04-),H,(,,%D8C<CD=D::>
    • Lean Startup
    • Customer Development
    • Explore Execute !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • Startups are NOT smaller versionsof big companies
    • Discover and solvecustomer’s problem
    • “Get out ofthe building!”Steve Blank
    • Explore !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • TAKE EACH MAJOR GUESS
    • !"#$%%&&&H54041,L56%&-0L!UTVPHW(SX,5Y.Z>
    • Problem Discovery
    • Who isfeeling the pain?
    • What painare they feeling?
    • How do they makethe pain go away today?
    • “Customers don’t care about your solution. They care about their problems. Dave McClure
    • !"#$%%&&&R*L2.L56%#!505(%.+,L56%;S;S9=S;SN>
    • Testable hypothesis
    • Maximize learning – Don Reinertsenhttp://jchyip.blogspot.com/2010/05/lean-software-and-systems-conference.html
    • Problem Interview OverviewRunning Lean by Ash Maurya, page 118.
    • !"#$%%&&&R*L2.L56%#!505(%-+-LM5%=:S::C=;8D>
    • Typical market research:Customer attributes
    • !"#$%%&&&R*L2.L56%#!505(%(,.#*L5)4G/40%8<=D8D9=9>
    • Innovation market research:Problem discovery
    • !"#$%%&&&R*L2.L56%#!505(%(,.#*L5)4G/40%8<=D8D9=9>
    • !"#$%%&&&R*L2.L56%#!505(%*/+*G5#.*6,%=;N8S;DD8D>
    • !"#$%%&&&R*L2.L56%#!505(%0&5(054065/2(%DD;S8;N9<>
    • Milkshake Test What job isyour solution being hired to perform?
    • Solution Discovery
    • Validateprimary problems
    • Test yourlow fidelity MVP
    • Solution Interview OverviewRunning Lean by Ash Maurya, page 142.
    • Explore !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • FindEarlyvangelists
    • Validate Positioning
    • Product PositioningFor (target customers)Who (have the following problem)The (product name) is a (describe theproduct or solution)That provides (key benefit)Unlike (reference competition),The product/solution (describe the keypoint of competitive differentiation)
    • Validate Roadmap
    • Sales Roadmap N%S8%8C> 8C%SC%8C> 8%U%88> S%U%88> Release 1 Release 2 Release 3 Release 4Theme: UI Theme: Reporting Theme: Dashboards Theme: AdminFor X, this UI release For <who>, this release For <who>, this release For <who>, this releaseprovides <what value> provides <what value> provides <what value> provides <what value>Key Features: Key Features: Key Features: Key Features: 1. Feature A 4. Feature B’ 7. Feature B’’ 10. Feature F 2. Feature B 5. Feature C’ 8. Feature D’ 11. Feature G 3. Feature C 6. Feature D 9. Feature E
    • Validate Value
    • Get out and sell
    • Pivot orPersevere?
    • Execute!"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • Explore Execute !"#$%%&&&()*+,(!-.,/,0%(1)-/2%0!,3(0-.04#35&/,.(36-/4-)3(7(&3889:;<=;>
    • Don’t waste40-120 hours per week
    • buildingthe wrong business
    • Do what you love
    • Love what you do
    • “Not all those who wander are lost J.R.R. Tolkien
    • Books that informed this talk
    • People who informed this talk David Max Ash ClaytonSnowden Boisot Maurya Christensen Frank H. Eric Knight RiesGeoffrey Steve Moore Blank
    • !"#$%%&&&R*L2.L56%#!505(%R-"5#S;8%==;:9<NSN>
    • @zachnies