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Lean Startup Applied: Building New Products for New Markets

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My talk given to the Boston Software Process Improvement Network (SPIN) January 2015 Meeting.

Abby Fichtner will share lessons learned from working with hundreds of tech startups for what's involved in building out innovative new products that push the edge on what's possible. Using examples from real startups like Facebook, Dropbox and AirBnB, she'll share lean and agile techniques that have been adapted to building things that nobody has ever built before. Just as important, she'll share tips on how to find your initial users and how to very quickly validate (and iterate on!) your ideas to help you achieve product success.

Published in: Technology

Lean Startup Applied: Building New Products for New Markets

  1. 1. Lean Startup Applied Building New Products for New Markets Abby Fichtner @HackerChick | Harvard Innovation Lab | http://HackerChick.com
  2. 2. @HackerChick "If you only do things where you know the answer in advance, your company goes away." Jeff Bezos, Amazon@HackerChick
  3. 3. @HackerChick
  4. 4. @HackerChick Minority Report
  5. 5. @HackerChick
  6. 6. @HackerChick
  7. 7. @HackerChick
  8. 8. @HackerChick Urbee 2
  9. 9. @HackerChick
  10. 10. @HackerChick
  11. 11. @HackerChick
  12. 12. @HackerChick
  13. 13. @HackerChick
  14. 14. @HackerChick
  15. 15. @HackerChick
  16. 16. @HackerChick
  17. 17. @HackerChick
  18. 18. @HackerChick
  19. 19. @HackerChick
  20. 20. @HackerChick The first rule of innovation is: NO RULES there are of innovation
  21. 21. @HackerChick I have not failed. I’ve just found 10,000 ways that won’t work. - Thomas Edison
  22. 22. @HackerChick #1 Eliminate Waste Innovation Rules #5 FOCUS! and get shit done #2 Start Small #3 Deeply Understand Customers #4 Take a Scientific Approach
  23. 23. @HackerChick Eliminate Waste #1
  24. 24. @HackerChick The #1most important thing for a startup is: value Vs. waste Eric Reis, The Lean Startup
  25. 25. @HackerChick muda any activity that is unproductive or that doesn’t add value today
  26. 26. @HackerChick out of9 new products fail 10
  27. 27. @HackerChick
  28. 28. @HackerChick Single Biggest Predictor of Failure? Don Sull, The Upside of Turbulence
  29. 29. @HackerChick Single Biggest Predictor of Failure? Don Sull, The Upside of Turbulence Sticking to Initial Business Plan
  30. 30. @HackerChick@HackerChick
  31. 31. @HackerChick
  32. 32. @HackerChick Small Start #2
  33. 33. @HackerChick Go Big or go home
  34. 34. @HackerChick GoBig VISION
  35. 35. @HackerChick VISION REALITY
  36. 36. @HackerChick@HackerChick
  37. 37. @HackerChick@HackerChick
  38. 38. @HackerChick GO SMALL (dominate small market) GoBig VISION
  39. 39. @HackerChick Deeply Understand Customers #3
  40. 40. @HackerChick market team product
  41. 41. @HackerChick
  42. 42. @HackerChick market team product
  43. 43. @HackerChick VC: “There are a million cloud storage startups!” Drew: “Do you use any of them?” VC: “No” Drew: “…”
  44. 44. @HackerChick@HackerChick
  45. 45. @HackerChick@HackerChick
  46. 46. @HackerChick@HackerChick
  47. 47. @HackerChick How do you find your people?
  48. 48. @HackerChick
  49. 49. @HackerChick 10 100
  50. 50. @HackerChick What one thing are they dying for?
  51. 51. @HackerChick How are they solving that need today?
  52. 52. @HackerChick Take a Scientific #4 approach
  53. 53. @HackerChick
  54. 54. @HackerChick@HackerChick
  55. 55. @HackerChick “Talk is cheap. Show me the code.” - Linus Torvalds MVP
  56. 56. @HackerChick@HackerChick
  57. 57. @HackerChick
  58. 58. @HackerChick@HackerChick Would you like recommendations for a hotel? Yes No Would you like recommendations for a hotel? No
  59. 59. @HackerChick@HackerChick Would you like recommendations for a hotel? Yes No Would you like recommendations for a hotel? Yes No
  60. 60. @HackerChick@HackerChick ERROR: SYSTEM UNAVAILABLE
  61. 61. @HackerChick FOCUS!and get shit done #5
  62. 62. @HackerChick What’s most important today?
  63. 63. @HackerChick Phase 1: Validate Idea
  64. 64. @HackerChick Lean Canvas
  65. 65. @HackerChick Lean Canvas Product
  66. 66. @HackerChick Lean Canvas Product Market
  67. 67. @HackerChick Lean Canvas Product Market When you eat Six Foods, you are doing what is better for your health & better for the world
  68. 68. @HackerChick Lean Canvas Product Market $$$
  69. 69. @HackerChick What are my ? riskiest assumptions
  70. 70. @HackerChick Minority Report
  71. 71. @HackerChick
  72. 72. @HackerChick@HackerChick
  73. 73. @HackerChick Phase 2: Build
  74. 74. @HackerChick Minimum Viable Product
  75. 75. @HackerChick Minimum Viable Process
  76. 76. @HackerChick Just In Time Process
  77. 77. @HackerChick KISS (Do the Simplest Thing That Could Possibly Work)
  78. 78. @HackerChick To Do In Progress Done X Y Z A
  79. 79. @HackerChick To Do In Progress Done X Y Z A B C D E F G H J K M N O P Q R
  80. 80. @HackerChick Kanban Get stuff done To Do In Progress Done X Y Z A B C D E F G H J K M N O P Q R 1
  81. 81. @HackerChick Kanban Get stuff done To Do In Progress Done X Y Z A 1 B C D E F G H J K M N O P Q R
  82. 82. @HackerChick Kanban Get stuff done To Do In Progress Done X Y Z A 1 (keep short) B C D E F G H J K M N O P Q R
  83. 83. @HackerChick Kanban Get stuff done To Do In Progress Done X Y Z 1 A B C D E F G H J K M N O P Q R
  84. 84. @HackerChick Kanban Get stuff done To Do In Progress Done X Y Z 1 A B C D E F G H J K M N O P Q R 10
  85. 85. @HackerChick Kanban Get stuff done To Do In Progress Done 1 A 10 X Y Z
  86. 86. @HackerChick Minimum Viable Design
  87. 87. @HackerChick Emergent Design
  88. 88. @HackerChick Refactor!
  89. 89. @HackerChick
  90. 90. @HackerChick Maximize Learning
  91. 91. @HackerChick Requirements Develop ReleaseQA How can we maximize learning / success?
  92. 92. @HackerChick Requirements Develop ReleaseQA Some learning (talk to people) How can we maximize learning / success?
  93. 93. @HackerChick Requirements Develop ReleaseQA Some learning (talk to people) Most learning (see what they do!) How can we maximize learning / success?
  94. 94. @HackerChick Requirements Develop ReleaseQA Some learning (talk to people) Most learning (see what they do!) | ------------ Very little learning ------------ | How can we maximize learning / success?
  95. 95. @HackerChick Requirements Release Some learning (talk to people) Most learning (see what they do!) Continuous Delivery How can we maximize learning / success?
  96. 96. @HackerChick Learn From Your Releases Only go as fast as you can learn To Do In Progress Done 1 C 10 X Y Z A B Learning
  97. 97. @HackerChick Learn From Your Releases Only go as fast as you can learn To Do In Progress Done 1 C 10 X Y Z A B Learning
  98. 98. @HackerChick Learn From Your Releases Only go as fast as you can learn To Do In Progress Done 1 C 10 X Y Z A B Learning 10
  99. 99. @HackerChick Patterns of Innovation #1 Eliminate Waste #5 FOCUS! and get shit done #2 Start Small #3 Deeply Understand Customers #4 Take a Scientific Approach
  100. 100. Abby Fichtner @HackerChick abby@hackerchick.com http://HackerChick.com Thanks!

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