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Lean_Startup_Cirrus_Shakeri
- 2. Agenda • Introduction • The Lean Startup is a ‘mindset’ • The Lean Startup is a set of management techniques • The ‘contrarian’ perspectives 2Cirrus Shakeri
- 3. About Me • Startup advisor at Plug and Play • Lean Startup experience • Large company – SAP • As startup advisor and founder • Applications of Artificial Intelligence in the Enterprise • Turn the startup process into a data-driven process • Minimize waste and maximize value • My day job • Chief Architect at a technology startup called AIBrain 3Cirrus Shakeri
- 5. Setting the Stage • Objective of this talk • To introduce the ‘mindset’ to those who are new to The Lean Startup • To have a conversation and learn from those who are already using it • For learning the techniques • Read the book, listen to talks by Eric Ries, read the case studies, and talk to other startups! • Remember: the Lean Startup is not the only method 5Cirrus Shakeri
- 6. What is Entrepreneurship? • Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled • Harvard Business School, professor Howard Stevenson • Entrepreneurs • “They see an opportunity and don’t feel constrained from pursuing it because they lack resources,” says Stevenson. “They’re used to making do without resources.” 6Cirrus Shakeri http://www.inc.com/eric-schurenberg/the-best-definition-of-entepreneurship.html
- 7. What is a Startup? • Eric Ries’ Definition of a startup: • A human institution that operates under extreme uncertainty • Uncertainty about the market, product, customers, business model, … • A startup is not a smaller version of large companies 7Cirrus Shakeri
- 8. Why Startups fail? • “Tried to be sustainable too early” (Rdio) • “poor hiring decisions” (KiOR) • “were unable to compete with Ubber” (SideCar) • “U.S. Court of Appeals for the District of Columbia denied to overturn the Federal Aviation Administration’s ban on Flytenow and other online flight-sharing websites” (Flytenow) • “We had scaled to about 15 cities but it was becoming very difficult to sustain operations at that level with no funds.” (Delivree King) • “the competitive landscape made it too expensive for us to scale” (Top 10 – Travel app) • “we’ve failed to grow at a rate that justifies continuing to support our Prismatic News products.” • “lawsuits over privacy violations and legislation drafted to tighten controls for the future” (CarrierIQ) • “Unfortunately, circumstances [despite reaching 9.4M active users and 58M monthly video views] … made it difficult to raise money and continue on.” (Pixable) 8Cirrus Shakeri https://www.cbinsights.com/blog/startup-failure-post-mortem/
- 12. Quizz 12Cirrus Shakeri What is the main function of an early stage startup? A – Build a product B – Hire the best people C – Learn what to build D – Generate revenue
- 18. Alchemy vs. Scientific Method • Alchemy • No hypothesis • Try and error • No measurement and learning • Scientific Method • Starts with a hypothesis • Lots of experimentations • Lots of failures 18Cirrus Shakeri
- 26. The Lean Startup is like GPS for Startups to quickly find their Product-Market Fit 26Cirrus Shakeri
- 33. Hypothesis • Value hypothesis • Is there a product-market fit • Growth hypothesis • Can this business scale 33Cirrus Shakeri