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How to Master the Key Metrics for Startup Growth — Ash Maurya

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ASH MAURYA is the creator of the one-page busi­ness modeling tool Lean Canvas and the author of Running Lean

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How to Master the Key Metrics for Startup Growth — Ash Maurya

  1. 1. Powered by
  2. 2. This presentation consists of highlights from the interview with Moe Abdou, founder & host of 33voices®.
  3. 3. ASH MAURYA is the creator of the one-page busi­ness modeling tool Lean Canvas and the author of Running Lean. He regularly hosts sold-out workshops around the world, serves as a mentor to several accel­erators, including TechStars, Accelerace, and Slingshot, and guest lectures at several universities, including MIT, Harvard, and the University of Texas, Austin. He serves on the advisory board of a number of startups, consults for new and established companies, and con­tributes to leading business publications and websites. He lives in Austin, Texas. Ash Maurya @ashmaurya Creator of Lean Canvas
  4. 4. A successful entrepreneur doesn’t just look for a great solution or an innovative piece of technology; rather she seeks a repeatable process where her solution connects with paying customers. Iin other words, a working business model. Insight #1
  5. 5. Insight #2 To measure progress, opt not to rely on revenue, as it tends to have a longer customer life-cycle; instead pay attention to traction. The rate at which a business model captures monetizable value for its users. Created Value > Captured Value >= Cost (Value Delivery)
  6. 6. Insight #3 If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the real world. Use these three guidelines to determine your minimum success criteria:
  7. 7. Insight #3 If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the real world. Use these three guidelines to determine your minimum success criteria: Keep your time box under three years
  8. 8. Insight #3 If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the real world. Use these three guidelines to determine your minimum success criteria: Frame the outcome in terms of a revenue goal
  9. 9. Insight #3 If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the real world. Use these three guidelines to determine your minimum success criteria: Remember that the goal is a rough ballpark
  10. 10. Insight #4 At the earliest stages, entrepreneurs need deceleration, not acceleration. Slow down and make repeatability and predictability a precondition for growth.
  11. 11. Insight #5 The singularity moment of a product is not when you write your first line of code, or raise your first round of funding; it’s when you create your first customer. All metrics are people first.
  12. 12. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components:
  13. 13. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components: Acquisition - This is the job of your offer
  14. 14. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components: Activation - This is where you connect your promise with the first user experience
  15. 15. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components: Retention - This is the time your customer spends inside your business
  16. 16. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components: Revenue - This measures all the monetizable value captured from your users
  17. 17. Insight #6 Use this customer factory blueprint to deconstruct traction into these five components: Referral - This is when your happy users share their experiences with others
  18. 18. Insight #7 The three attributes to running an effective experiment are speed, customer learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following these three steps:
  19. 19. Insight #7 The three attributes to running an effective experiment are speed, customer learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following these three steps: Use your models to expose constraints
  20. 20. Insight #7 The three attributes to running an effective experiment are speed, customer learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following these three steps: Formulate ideas for breaking constraints
  21. 21. Insight #7 The three attributes to running an effective experiment are speed, customer learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following these three steps: Test your ideas through continual experiments using the Build/Measure/Cycle
  22. 22. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps:
  23. 23. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Declare your expected outcomes up front
  24. 24. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Make declaring outcomes a team sport
  25. 25. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Emphasize estimation, not precision
  26. 26. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Measure actions versus words
  27. 27. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Turn your assumptions into falsifiable hypotheses
  28. 28. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Time box your experiments
  29. 29. Insight #8 A single experiment can never completely validate a strategy, but it can completely invalidate it. Guard against your cognitive biases by following these seven steps: Always use a control group
  30. 30. Insight #9 Breakthrough insights are often hidden within failed experiments - Remember that there is no such thing as a failed experiment, only experiments with unexpected outcomes.
  31. 31. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints:
  32. 32. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints: Expose Problems - work with your team to identify business model constraints
  33. 33. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints: Define Solutions - leverage individual ideas to generate potential solutions
  34. 34. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints: Short-list Solutions - rank and select the best strategies
  35. 35. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints: Test Solutions - Test the strategies with experiments
  36. 36. Insight #10 To advance your business model and break through constraints, get familiar with running LEAN Sprints: Decide on Solutions - Decide next actions
  37. 37. Reflect When experiments don’t work, what do you do? tweet us!
  38. 38. Get the book
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