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Build Tech Startup in Bangladesh in a Lean Way


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Lean Startup, as coined by Eric Ries, has been adopted by many organizations from Dropbox, Intuit to US Government, and is taught in Harvard Business School. The idea is first proposed in 2011, but now it has taken the startup world by storm.

What is startup? Who can be considered an entrepreneur? What numbers should you look at when you are building something new for the customers? What if you do not even know who your customers are? When traditional business plans don't work, Lean Startup will show you a scientific way to create a successful business.

If you are an entrepreneur creating a new business in an extremely uncertain environment, or if you are building a product around a new idea and/or in a new market, Lean Startup is a concept that you will regret not knowing about before. How Lean Startup is relevant in Bangladesh? How is it relevant to tech business? The speaker will try to answers all these questions. And perhaps make you ask more.

Published in: Business, Technology

Build Tech Startup in Bangladesh in a Lean Way

  1. 1. Build a Tech Startup in Bangladesh in a Lean Way June 6, 2014
  2. 2. Why Startup? • More risk • More gain • Extreme freedom • Nobody to blame except yourself • No boss except customers • Sleepless nights • Lots of fun!
  3. 3. Startup • A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty. • Startup = growth + speed + uncertainty
  4. 4. If You Decide to be the ONE • Pick your passion • Build your team (share holders or not), with complementary skills • Think of legal entity (none, proprietorship, partnership, limited) • Start building your product • Survive
  5. 5. How to Survive in Extreme Uncertainty?
  6. 6. Problem known, solution known
  7. 7. Problem Known, Solution Unknown
  8. 8. Problem Unknown, solution Unknown
  9. 9. How to Survive in Extreme Uncertainty? Fail Fast
  10. 10. Lean Startup • Lean ≠ Cheap • Lean = Strive to optimize time • Identify the riskiest parts of your business plan, and find ways to reduce those risk in a quick iterative cycles of learning
  11. 11. Don’t sell what you can make Make what you can sell
  12. 12. Build What? • MVP first (think BIG start small) • Eliminate Waste (Lean Manufacturing) • Iterate…
  13. 13. Measure What?
  14. 14. Measure What? • Not vanity metrics, but the actionable metrics – Cohort analysis – Viral coefficient – Customer lifecycle value – Marginal revenue – marginal expense = marginal profit – Growth and churn rate of each period – 5 Why’s – Split testing
  15. 15. Measure
  16. 16. Pivot or Persevere • A few common pivots Zoom in pivot – Zoom our pivot – Customer segment pivot – Customer need pivot – Platform pivot – Business architecture pivot – Channel pivot – Technology pivot
  17. 17. Some examples of Pivots in time or not • Grameen Stars back in 2003 • Swapno • Akhoni • ProthomAlo Jobs
  18. 18. Intrepreneurship • Financial autonomy • Independent development authority • A personal Stake in the outcome (not always financial e.g. Shusa, name on the door) • Protect the mother: create sandbox – with limited resource, time, customer subset, end to end control etc. e.g. Kazi and Kazi • Entrepreneur – a job title
  19. 19. More about Lean Startup
  20. 20. Summary of Lean Startup • Entrepreneurs are everywhere • Entrepreneurship is management • Validated learning • Innovation Accounting • Build-Measure Learn
  21. 21. Thank you