A presentation given at BOI Workbench Limerick

1. Conversational
Interfaces
Are the future of
customer
interaction.

2. 9/10startups fail
products

3. 66%
drastically change their
original plans

4. Notabetter planAbutapathtoaplanthat works
beforerunningoutof resources.

5. Aplanthat works= Product/Market Fit

6. Whatis
Product/MarketFit?

7. “... customersarebuyingtheproductjust
asfast asyoucanmakeit - orusageis
growingjust asfast asyoucanadd
servers...”
-MarcAndreessen,ThePmarcaGuidetoStartups

8. “If youhavetoaskwhetheryouhave
Product/MarketFit, theansweris simple:
youdon’t.”
-Eric Ries,TheLean Startup

9. Gettingto Product/MarketFit
canbedone systematically

10. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit

11. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit

12. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit
DoIhaveaproblemworth
solving?

13. 01 DocumentyourPlan A.

14. Reasonablysmartpeoplecanrationalize
anythingbutentrepreneursare
especiallygifted at this.

15. BusinessModelversusBusiness Plan

16. BusinessModelversusBusiness Plan
Adocumentinvestorsmakeyou
write that theydon’t read

17. BusinessModelversusBusiness Plan
Asinglediagramofyour business

18. Problem
Top3 problems
Solution
Top3 features
UniqueValue
Proposition
Single,clear,
compellingmessage
thatstateswhyyou
aredifferentand
worthpayi g
UnfairAdvantage
Can’tbeeasily
copiedor bought
Customer
Segments
Targetcustomers
KeyMetrics
Keyactivities you
measure
attention Channels
Pathto customers
CostStructure
CustomerAcquisition Costs
DistributionCosts
Hosting
People,etc.
RevenueStreams
Revenue Model
Life Time Value
Revenue
GrossMargin
PRODUCT MARKET
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons
Attribution-Share Alike 3.0 Un-ported License.

20. Problem Solution
Unfair
Advantage
KeyMetrics
http://runlean.ly/why-lean-canvas

21. 02 Formulateanimplementation strategy.

23. Facebookwononstrategynot vision.

24. 03 Hone in onearlyadopters first.

25. Problem Solution Unique Value
Proposition
Unfair
Advantage
Customer
Segments
Key Metrics Channels
Cost Structure Revenue Streams
Yourearlyadoptersdefinethebusiness model

27. BuildanMVP(MinimumViable Product).

28. AnMVPis thesmallestsolutionthat
deliverscustomer value.
(BONUS:And capturescustomervalue.)

29. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit

30. 01 Problem/Solution Fit
AGEN
DA
02 EarlyTraction
03 Product/MarketFit
HaveIbuilt somethingpeople
want?

31. InGodwe trust,
all othersbring data.
-W.Edwards Deming

32. Startupsdon’t starve,
theydrown.
-ShawnCarolan,Menlo Ventures

33. What you wanted
WTF
The reality

34. 04 Establishastandardmeasureof progress.

35. Financialaccounting InnovationAccounting

36. ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
How dousersfind you?
Dousershaveagreatfirst experience?
Douserscomeback?
How doyoumake money?
Douserstell others?
Dave McClure’sPirateMetrics

37. 05 Delivervaluebefore growth.

38. ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
How dousersfind you?
Dousershaveagreatfirst experience?
Douserscomeback?
How doyoumake money?
Douserstell others?
ValueMetrics

39. 06 Theterrain beforeProduct/MarketFit is
riddledwith qualitative learning.

40. Youdon’t needlots ofuserstolearn.
Justafewgood customers.

42. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit

43. 01 Problem/Solution Fit
AGENDA
2 EarlyTraction
3 Product/MarketFit
How doIscale?

44. 07 Identifyyourengineof growth.

45. ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
How dousersfind you?
Dousershaveagreatfirst experience?
Douserscomeback?
How doyoumake money?
Douserstell others?
PAID
STICKY
VIRAL
GrowthMetrics

46. Astartup can focus ononly onemetric.
Soyou have to decide what that is and
ignorethe rest.
-NoahKagan

47. What’sstoppingyourbusiness
fromgrowing 10X?
-David Skok

48. 08 Measureeverythingasa cohort.

49. Youcannotstepin the
sameriver twice.
-Heraclitus

50. Signups
Activation
PaidConversion

51. Signups
Activation
PaidConversion

52. 09 Buildacontinuousfeedback loopwith
customersfor rapidhypothesis generation.

56. 10 Breakthroughinsights areusually hidden
within failed experiments.

57. Apivotnotgroundedin learningis a
disguised“see whatsticks” strategy.

59. “Thereis nosuchthingasafailed
experiment-onlyunexpectedoutcomes. ”
- BuckminsterFuller

60. Hashtag: #leanstartup
ASH
MAURYA
@ashmaur
ya
spark59.co
10STEPSTO
PRODUCT/MARKETFIT

61. “CustomerDevelopment–nocustomer,bad
customer,orwrongcustomer&you’redead.”
- PaulSweeney

62. “Prototypeeverything,especiallyrelationships–
minviableprototype–everythingisademand
estimator. ”
- PaulSweeney

63. “Growthengine–ifyouhavepoor
mechanicsofcustomeracquisition,
engagement,&growth,thenyouwaitand
solve.”
- PaulSweeney

64. “Experimentationmustleadtovalidatedlearning
–butunderstandyourproblemvectorsandtheir
prioritisations”
- PaulSweeney

65. “Egoistheenemy–weareallthehero'sof
ourownstory.Thiswillgetyoukilled.”
- PaulSweeney

66. “Nevernotbeafraid.”
- Grug.

67. THANKS!
Available nowin bookstores
Getmorecontent like this:
http://runlean.ly/InnovationAccounting
AshMaurya | Author,Running Lean | Founder, Spark59 |
@ashmaurya
Life istooshort tobuild something nobody
wants