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STARTUP GLOSSARY

BEGRIFFE UND METHODEN AUS DER STARTUP-WELT

Daniel Bartel
Benjamin Bestmann

Exec I/O | Düsseldorf | 02....
About!
Ein Zusammenschluss aus Unternehmern und Innovatoren

DANIEL	
  BARTEL	
  
Business Innovation
Evangelist

BENJAMIN...
What is a Startup?
Some Definitions
„A human institution designed to create a new product
or service under conditions of ex...
Startups = Experiments
Problem (Market) = unknown
Solution (Product) = unknown

http://wallpaperscraft.com/image/pier_lake...
Innovation Spectrum
Sustaining vs. Disruptive Innovation

The Lean Entrepreneur, http://www.slideshare.net/slideshow/embed...
Search vs. Execute
„Startups are not just smaller versions of big companies“

Source:	
  h*p://steveblank.files.wordpress.c...
One method to rule them all?
No! Startups need their own management tools

MBA = ADMINISTRATION
(perfect for running a com...
Efficiency vs. Effectivity
Are you advancing a plan or are you making progress?

http://impossibleobjects.com/catalogue/clean...
90% OF ALL STARTUPS FAIL

http://www.wnd.com/2012/02/bolton-u-s-running-up-the-white-flag-to-taliban/
According to Ash Maurya …
66% drastically change their original plans

Exec I/O | Düsseldorf | 02.12.2013

10
Don‘t build products nobody wants
Why startups fail

“ Startups don’t fail because
they lack a product; they fail
because ...
Innovation Value Chain
Proof of
Concept

Theory

BASIC
RESEARCH

APPLIED
RESEARCH

Prototype

PRE
DEVELOPMENT

DEVELOPMENT...
The four stages of a Startup
Product/Market-­‐Fit	
  

Problem/Solu1on-­‐Fit	
  

Search
Exec I/O | Düsseldorf | 02.12.201...
The four stages of a Startup

Exec I/O | Düsseldorf | 02.12.2013

14
The Problem of existing companies:

Our	
  Learning	
  Curve	
  

Speed	
  of	
  Change	
  
Past	
  

Future	
  
Eddies Ob...
Alexander Osterwalder says:
“Every Business Model has an Expiry-Date!”

Exec I/O | Düsseldorf | 02.12.2013

16
Lean Startup

Exec I/O | Düsseldorf | 02.12.2013

17
Lean?
Maximize Customer Value while minimizing waste.

In context of startups/innovation:
“Every activity that helps to le...
Lean Startup
A scientific approach to manage Disruptive Innovation
Define Hypotheses
Make assumptions about your business.

...
Build-Measure-Learn
Scientific Feedback Loop

Exec I/O | Düsseldorf | 02.12.2013

20
Define Hypotheses

Exec I/O | Düsseldorf | 02.12.2013

21
Finding a Business Model
The Business Model Canvas (Alexander Osterwalder)

Exec I/O | Düsseldorf | 02.12.2013

22
“Business Model Stack”

Exec I/O | Düsseldorf | 02.12.2013

23
Test Assumptions

Exec I/O | Düsseldorf | 02.12.2013

24
Get out of the Building
„There are no facts inside“ (Steve Blank)

http://www.giantbomb.com/emergency-exit/3055-4475/

Exe...
Systematically Test your Model

Exec I/O | Düsseldorf | 02.12.2013

26
Minimum Viable Product (MVP)
The minimum feature set that enables learning
Examples:
• 
• 
• 
• 
• 
• 

Landing Pages
Vide...
Pretotyping (Concierge Service)

h*p://www.openideo.com/open/web-­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐righ...
Pretotyping (Concierge Service)

h*p://www.openideo.com/open/web-­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐righ...
Make it count
Innovation Accounting & Metrics

Example: AARRR Framework by Dave McClure

Exec I/O | Düsseldorf | 02.12.201...
Design Thinking

Exec I/O | Düsseldorf | 02.12.2013

31
Non-linear Process
Problem

Solution

POV	
  

Exec I/O | Düsseldorf | 02.12.2013
h*p://humani1eslab.stanford.edu/Bootcamp...
“64% of features and functions are
rarely or never used.”

*Source: Standish Group.

Exec I/O | Düsseldorf | 02.12.2013

3...
© HPI / D-School und andere

empathize	
   define	
  

	
  test	
  
ideate	
  

prototype	
  

Exec I/O | Düsseldorf | 02.1...
Huge OutCOME!

Exec I/O | Düsseldorf | 02.12.2013

35
Digg for needs, wishes & insights

Exec I/O | Düsseldorf | 02.12.2013

36
Fragen? Fragen.
BENJAMIN	
  BESTMANN	
  
mail: bb@ifbi.eu
mobil: @BenBestmann
web: ifbi.eu

DANIEL	
  BARTEL	
  
mail: db@...
3 Mayor Risks
1. Product Risk: Getting the product right
	
  

2. Customer Risk: Building a path to customers
	
  

3. Mar...
prototype: fail early and often

h*p://www.pdfpedia.com/download/12464/lecture-­‐9-­‐prototyping-­‐
pdf.html	
  

Exec I/O...
Traditional Development

Exec I/O | Düsseldorf | 02.12.2013

40
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Startup Glossary - Must have Startup Vocabulary

Dieser Workshop gibt eine kurze Einführung rund um die wichtigsten Innovationsmethoden von Startups. Was ist das Erfolgsgeheimnis von Dropbox, Airbnb & Co? Erfahren Sie was ein Startup von einem bestehen Unternehmen unterscheidet und mit Hilfe welcher Vorgehensmodelle innovative Produkte und Dienstleistungen systematisch entwickelt und getestet werden können. Themen sind dabei unter anderem: Lean Startup, Customer Development, Design Thinking und der Business Model Canvas.

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Startup Glossary - Must have Startup Vocabulary

  1. 1. STARTUP GLOSSARY BEGRIFFE UND METHODEN AUS DER STARTUP-WELT Daniel Bartel Benjamin Bestmann Exec I/O | Düsseldorf | 02.12.2013
  2. 2. About! Ein Zusammenschluss aus Unternehmern und Innovatoren DANIEL  BARTEL   Business Innovation Evangelist BENJAMIN  BESTMANN   DR.  WINFRIED  RICHTER   ADRIAN  THOMA   Business Innovator & Entrepreneur, davor Serial Entrepreneur Founder Corporate-Executive PROF.  DR.  NILS  HÖGSDAL   Wissenschaftlicher Begleiter + UNSER NETZWERK •  STEVE BLANK (4 Steps to Epiphany) •  BOB DORF (The Startup Owners Manual) •  ALEXANDER OSTERWALDER (Business Model Generation) •  ASH MAURYA (Running Lean Series, Spark 59) •  YVES PIGNEUR & ALAN SMITH (Business Model Generation) •  ROB FITZPATRICK (The Mom Test) •  PROF. DR. GUNTER DUECK (ehem. CTO IBM) •  SAL VIRANI (Leancamp) •  uvm Exec I/O | Düsseldorf | 02.12.2013 2
  3. 3. What is a Startup? Some Definitions „A human institution designed to create a new product or service under conditions of extreme uncertainty.” - Eric Ries „A startup is a temporary organization in search for a scalable, repeatable, profitable business model.“ -  Exec I/O | Düsseldorf | 02.12.2013 Steve Blank 3
  4. 4. Startups = Experiments Problem (Market) = unknown Solution (Product) = unknown http://wallpaperscraft.com/image/pier_lake_descent_uncertainty_fog_60618_1920x1285.jpg Exec I/O | Düsseldorf | 02.12.2013 4
  5. 5. Innovation Spectrum Sustaining vs. Disruptive Innovation The Lean Entrepreneur, http://www.slideshare.net/slideshow/embed_code/ 16699289 Exec I/O | Düsseldorf | 02.12.2013 5
  6. 6. Search vs. Execute „Startups are not just smaller versions of big companies“ Source:  h*p://steveblank.files.wordpress.com/2010/01/business-model1.jpg Exec I/O | Düsseldorf | 02.12.2013 6
  7. 7. One method to rule them all? No! Startups need their own management tools MBA = ADMINISTRATION (perfect for running a company, but not for “designing”) Exec I/O | Düsseldorf | 02.12.2013 7
  8. 8. Efficiency vs. Effectivity Are you advancing a plan or are you making progress? http://impossibleobjects.com/catalogue/cleaning-sneakers.html Exec I/O | Düsseldorf | 02.12.2013 8
  9. 9. 90% OF ALL STARTUPS FAIL http://www.wnd.com/2012/02/bolton-u-s-running-up-the-white-flag-to-taliban/
  10. 10. According to Ash Maurya … 66% drastically change their original plans Exec I/O | Düsseldorf | 02.12.2013 10
  11. 11. Don‘t build products nobody wants Why startups fail “ Startups don’t fail because they lack a product; they fail because they lack customers and a profitable business model ” Exec I/O | Düsseldorf | 02.12.2013 11
  12. 12. Innovation Value Chain Proof of Concept Theory BASIC RESEARCH APPLIED RESEARCH Prototype PRE DEVELOPMENT DEVELOPMENT 1st Model PRE PRODUCTION 1st Batch PRODUCTION DESIGN THINKING Empathize & Define Ideate Prototype & Test LEAN STARTUP Customer Discovery Customer Validation & Creation Company Building BUSINESS MODEL GENERATION Value Proposition Design Exec I/O | Düsseldorf | 02.12.2013 Business Model Canvas 12
  13. 13. The four stages of a Startup Product/Market-­‐Fit   Problem/Solu1on-­‐Fit   Search Exec I/O | Düsseldorf | 02.12.2013 Execution 13
  14. 14. The four stages of a Startup Exec I/O | Düsseldorf | 02.12.2013 14
  15. 15. The Problem of existing companies: Our  Learning  Curve   Speed  of  Change   Past   Future   Eddies Obeng's the world after midnight rate of lerning pace of change around us Exec I/O | Düsseldorf | 02.12.2013 15
  16. 16. Alexander Osterwalder says: “Every Business Model has an Expiry-Date!” Exec I/O | Düsseldorf | 02.12.2013 16
  17. 17. Lean Startup Exec I/O | Düsseldorf | 02.12.2013 17
  18. 18. Lean? Maximize Customer Value while minimizing waste. In context of startups/innovation: “Every activity that helps to learn about what creates value for potential customers.” Exec I/O | Düsseldorf | 02.12.2013 18
  19. 19. Lean Startup A scientific approach to manage Disruptive Innovation Define Hypotheses Make assumptions about your business. Build & Run Experiments Test your assumptions empirically. Learn from the Results Pivot (change strategy) or Persevere. Exec I/O | Düsseldorf | 02.12.2013 19
  20. 20. Build-Measure-Learn Scientific Feedback Loop Exec I/O | Düsseldorf | 02.12.2013 20
  21. 21. Define Hypotheses Exec I/O | Düsseldorf | 02.12.2013 21
  22. 22. Finding a Business Model The Business Model Canvas (Alexander Osterwalder) Exec I/O | Düsseldorf | 02.12.2013 22
  23. 23. “Business Model Stack” Exec I/O | Düsseldorf | 02.12.2013 23
  24. 24. Test Assumptions Exec I/O | Düsseldorf | 02.12.2013 24
  25. 25. Get out of the Building „There are no facts inside“ (Steve Blank) http://www.giantbomb.com/emergency-exit/3055-4475/ Exec I/O | Düsseldorf | 02.12.2013 25
  26. 26. Systematically Test your Model Exec I/O | Düsseldorf | 02.12.2013 26
  27. 27. Minimum Viable Product (MVP) The minimum feature set that enables learning Examples: •  •  •  •  •  •  Landing Pages Videos / Sketches Screenshots Paper Prototypes Mockups & Wireframes KickStarter http://leanheroes.com/what-is-a-minimum-viable-product-mvp/ Exec I/O | Düsseldorf | 02.12.2013 27
  28. 28. Pretotyping (Concierge Service) h*p://www.openideo.com/open/web-­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐right-­‐it-­‐vs.-­‐building-­‐it-­‐right/   Exec I/O | Düsseldorf | 02.12.2013 28
  29. 29. Pretotyping (Concierge Service) h*p://www.openideo.com/open/web-­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐right-­‐it-­‐vs.-­‐building-­‐it-­‐right/   Exec I/O | Düsseldorf | 02.12.2013 29
  30. 30. Make it count Innovation Accounting & Metrics Example: AARRR Framework by Dave McClure Exec I/O | Düsseldorf | 02.12.2013 30
  31. 31. Design Thinking Exec I/O | Düsseldorf | 02.12.2013 31
  32. 32. Non-linear Process Problem Solution POV   Exec I/O | Düsseldorf | 02.12.2013 h*p://humani1eslab.stanford.edu/Bootcamp/Home   32
  33. 33. “64% of features and functions are rarely or never used.” *Source: Standish Group. Exec I/O | Düsseldorf | 02.12.2013 33
  34. 34. © HPI / D-School und andere empathize   define    test   ideate   prototype   Exec I/O | Düsseldorf | 02.12.2013 34
  35. 35. Huge OutCOME! Exec I/O | Düsseldorf | 02.12.2013 35
  36. 36. Digg for needs, wishes & insights Exec I/O | Düsseldorf | 02.12.2013 36
  37. 37. Fragen? Fragen. BENJAMIN  BESTMANN   mail: bb@ifbi.eu mobil: @BenBestmann web: ifbi.eu DANIEL  BARTEL   mail: db@ifbi.eu twitter: @danbar87 web: ifbi.eu
  38. 38. 3 Mayor Risks 1. Product Risk: Getting the product right   2. Customer Risk: Building a path to customers   3. Market Risk: Building a viable business è TEST THEM ALL!!!   Exec I/O | Düsseldorf | 02.12.2013 38
  39. 39. prototype: fail early and often h*p://www.pdfpedia.com/download/12464/lecture-­‐9-­‐prototyping-­‐ pdf.html   Exec I/O | Düsseldorf | 02.12.2013 39
  40. 40. Traditional Development Exec I/O | Düsseldorf | 02.12.2013 40

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