What Problem Is Your Startup Solving?

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This presentation covers the Lean Startup approach to starting a company.
Discover and validate customer segments and what pain they are experiencing – figure out the problem before the solution.
Propose a solution to the problem and validate it with potential customers.
Get feedback from potential customers on a demo or prototype.

Published in: Technology, Spiritual

What Problem Is Your Startup Solving?

  1. 1. What Problem Are You Solving?
  2. 2. Zach Nies
  3. 3. @zachnies
  4. 4. Entrepreneurs have achance to create the world they want
  5. 5. There is proven science that canimprove your odds of success
  6. 6. What world do you want to create?
  7. 7. What does that feel like?
  8. 8. Success allows you tocreate the world you want and live your dreams
  9. 9. Why am I here tonight?
  10. 10. Success, but theyweren’t living any dream
  11. 11. Discover & promotethe tools that enable success while living the dream
  12. 12. How I got here
  13. 13. Font Samplerhttp://media.kelbymediagroup.com/layersmagazine/images/columns/artoftype/may06/glyph-set.jpg http://en.wikipedia.org/wiki/File:Caslon-schriftmusterblatt.jpeg
  14. 14. 2,500,000customers
  15. 15. Vision: Civil rights and equality for all
  16. 16. Vision: Reinvent collaboration
  17. 17. Amazing team,exactly the culture Idreamed of creating
  18. 18. Great product
  19. 19. One problem: Failed theMilkshake Test
  20. 20. Why am I doing this?
  21. 21. Live inside the Internet
  22. 22. Vision: Solve the world’s hardest problems as citizen engineers
  23. 23. Some contextand some math
  24. 24. Gaussian distributions!"#$%%&()*+,-%&./%0,1234&5%6789667:
  25. 25. Power laws and Pareto distributions!"#$%%&()*+,-%&./%0,1234&5%6789667:
  26. 26. Other Pareto distributions!"#$%%&()*+,-%&./%0,1234&5%6789667:
  27. 27. High impact, lowprobability events
  28. 28. An example
  29. 29. 8’1’’ 2’5’’ 3.3 x!"#$%%;;;+5<=<-&#!+0,+>?%1<;/%#)05><-&==<)</%!,;&.,>"!&5%@ABBCAB%D!<3;,=2/35&==</534&13E>=5&13F,/<13&1235!<3/!,5</534&13)135!<3;,=23G<3H)1-#)1-34<<5+!54=:
  30. 30. !"#$%%;;;+I)0?+0,4%#!,5,/%J>*<5/,1%7C@B7A7C6B:
  31. 31. Bill Gates TheEntire 150,000 xRoom
  32. 32. Business involves Pareto distributions
  33. 33. But wait, there’s more…
  34. 34. 4 Dots
  35. 35. 6 Connections
  36. 36. 64 Patterns
  37. 37. 10 Dots
  38. 38. 45 Connections
  39. 39. ? Patterns
  40. 40. Patterns35,184,372,088,832
  41. 41. In business a fewpatterns are more valuable than all the rest
  42. 42. but which ones?
  43. 43. “The only valid model of a complex system is the system itself. Murray Gell-Mann
  44. 44. Steve Blank“Get out of the building!”
  45. 45. !"#$%%;;;+I)0?+0,4%#!,5,/%*)5>&=<K</<<%@86L6@9@MM:
  46. 46. Figure outthe problem
  47. 47. !"#$%%;;;+I)0?+0,4%#!,5,/%?=<&0!,/%7M786L9L6L:
  48. 48. !"#$%%;;;+I)0?+0,4%#!,5,/%@B887LB8NO67%@9B@7BBLBL:
  49. 49. Anthropologist
  50. 50. !"#$%%;;;+I)0?+0,4%#!,5,/%0!>0?/)44)1/%9B8A6B@C6C:
  51. 51. No focus groups
  52. 52. Talk to people in person
  53. 53. !"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  54. 54. Introduce yourself to 3 other people!"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  55. 55. Development Marketing Sales
  56. 56. Problem TeamSolution Team
  57. 57. Problem TeamSolution Team
  58. 58. For whom, whatproblem are you solving?
  59. 59. Finding prospects
  60. 60. “Customers don’t care about your solution. They care about their problems. Dave McClure
  61. 61. !"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  62. 62. Make a list of 10 people you could contact directly or ask for an introduction!"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  63. 63. Sketch out the email or script you will use!"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  64. 64. Problem Interview
  65. 65. Who isfeeling the pain?
  66. 66. What painare they feeling?
  67. 67. How do they makethe pain go away today?
  68. 68. !"#$%%;;;+I)0?+0,4%#!,5,/%2<0,4%7C7CA9C7CB:
  69. 69. Testablehypothesis
  70. 70. !"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  71. 71. List the problem hypotheses you want to test!"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  72. 72. Problem Interview OverviewRunning Lean by Ash Maurya, page 118.
  73. 73. !"#$%%;;;+I)0?+0,4%#!,5,/%*)5>&=<K</<<%@86L6@9@MM:
  74. 74. Solution Interview
  75. 75. Problem TeamSolution Team
  76. 76. Who:Early adopters
  77. 77. How:Make money
  78. 78. What:Primary problem
  79. 79. The [feature name] will solve the[problem name]
  80. 80. Testing your solution
  81. 81. Solution Interview OverviewRunning Lean by Ash Maurya, page 142.
  82. 82. !"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  83. 83. Build the boilerplate for your solution interview!"#$%%;;;+0,//P5+0,4%453&0!)*<9%Q>-<1<6L6MRSTO+J#-:
  84. 84. Innovation
  85. 85. !"#$%%;;;+I)0?+0,4%#!,5,/%&2&0U,%9MCMM6978@:
  86. 86. Typicalmarket research: Customer attributes
  87. 87. !"#$%%;;;+I)0?+0,4%#!,5,/%/<#)0,=>-1>5%8L9@8@A9A:
  88. 88. Innovationmarket research:Addressing what problem
  89. 89. !"#$%%;;;+I)0?+0,4%#!,5,/%/<#)0,=>-1>5%8L9@8@A9A:
  90. 90. What is yourcompetition?
  91. 91. !"#$%%;;;+I)0?+0,4%#!,5,/%1?&)4%@L@8BA6A9A: !"#$%%;;;+I)0?+0,4%#!,5,/%8@CCA@B7NO66%97AB9L68@6:
  92. 92. !"#$%%;;;+I)0?+0,4%#!,5,/%=)?<R5!<R-&12R0&1K,1%M@@8B@C768: !"#$%%;;;+I)0?+0,4%#!,5,/%J,-<.&V)=%9798@A@898:
  93. 93. Milkshake Test What job is your solution beinghired to perform?
  94. 94. Types ofInnovation
  95. 95. SustainingDisruptive
  96. 96. SustainingDisruptive
  97. 97. SustainingDisruptive
  98. 98. Is there a large population ofpeople who historically have not had the money, equipment, or skill to do this thing forthemselves, and as a result have gone without it altogether or have needed to pay someone with more expertise to do it for them? To use the product or service, do customers need to go to an inconvenient, centralized location?
  99. 99. Are there customers at the lowend of the market who would be happy to purchase a product with less (but good enough)performance if they could get itat a lower price? Can we create a business model that enables us to earn attractive profits at the discount prices required to win the business of theseoverserved customers at the low end?
  100. 100. Is the innovation disruptive to all of the significant incumbent firms in the industry? If it appears to be sustaining to one or more significant players in the industry, then the odds will be stacked in that firm’sfavor, and the entrant is unlikely to win.
  101. 101. Disruptive
  102. 102. Building the MVP
  103. 103. Validated LearningEric Ries
  104. 104. Design Thinking
  105. 105. Pirate MetricsRunning Lean by Ash Maurya, page 154.
  106. 106. !"#$%%;;;+I)0?+0,4%#!,5,/%*)5>&=<K</<<%@86L6@9@MM:
  107. 107. !"#$%%;;;+I)0?+0,4%#!,5,/%I&",#C78%997MALBCB:
  108. 108. Primary book that informed this talk
  109. 109. Other books that informed this talk
  110. 110. People who informed this talk David Max Ash ClaytonSnowden Boisot Maurya ChristensenFrank H. Mark Eric Knight Newman Ries Steve Blank

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