TVS offers products and services for testing software and verifying hardware. It started in 2008 with £500 and has since grown to 43 employees with offices in the UK and India. The document discusses the practicalities of TVS's approach, including using contractors and suppliers, developing products based on opportunities, and using an agile development process. It also reflects on the advantages of bootstrapping from low investment but warns that converting to products is a different model, and the disadvantages around determining a business value and exit valuation.

1. Test and Verification Solutions
Lean Start-up Experiences
Mike Bartley
Test and Verification Solutions 1

2. About TVS
• We offer products and services to help people
– Test their software
– Verify their hardware
• We started in mid-2008 with no external funding (£500)
• We have 43 people working for us in some capacity
• We have offices in UK and India
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3. Practicalities of this approach
• Why do customers use you rather than a supplier directly?
– Establish leadership in your niche and offer complete solutions
– Because you make it easier for them to use you than anybody else
• For supplying services
– Need good network of contractors and suppliers
– Need to have excellent communication processes
– And be aware that suppliers might let you down
• For developing products
– React to opportunities
• Productising internal tools within companies
• Co-ownership model
– Agile software development approach
– Can get easy access to good low cost resource
• Need a blended approach
– But probably want to find ways to tie in your key resource
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4. Reflections of this approach
• Advantages of this approach
– Can bootstrap from low investment
• £500
• And move into products (be warned – this is a different model)
– Can react rapidly to opportunities
• Numbers, skills and locations
– Do not carry large overheads
– Convert contractors to permanent (beware – customers do this too)
• Disadvantages of this approach
– What is the value in the business?
– What is the exit valuation?
– Contractors leaving??
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5. Other Lean Considerations
• Strategy
– I had more a goal than a plan or strategy
– React quickly to events
– But what is our exit???
• Marketing – how to get customers!!!
– Personal networking
– Organise free events (online) and give away content
–Customer success stories
– Writing and speaking engagements
– Monthly newsletter
– Starting to try Social Media Marketing
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