Lean Startup Methods: Breaking Out of the Newsroom

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Lean Startup Methods: Breaking Out of the Newsroom

  1. 1. @twg #techraking LEAN STARTUP METHODS FOR BREAKING OUT OF THE NEWSROOM Dominic Bortolussi The Working Group twg.ca
  2. 2. @twg #techraking “This industry is a dying giant”
  3. 3. @twg #techraking “WE AREN’T A NEWS SOURCE, WE AREN’T PROFESSIONAL JOURNALISTS, AND WE DON’T CARE.” - Their ‘About’ page, Dec, 2013.
  4. 4. @twg #techraking REVENUE HAS DECREASED BY 13% ACROSS CANADA’S NEWSPAPER INDUSTRY OVER THE LAST FIVE YEARS (SOURCE: STATISTICS CANADA)
  5. 5. @twg #techraking AND IT’S PREDICTED TO DROP 20% BY 2017 (SOURCE: PWC GLOBAL ENTERTAINMENT AND MEDIA OUTLOOK)
  6. 6. @twg #techraking LAYOFFS AT THE NATIONAL POST, GLOBE & MAIL, TORONTO SUN, CBC…. THE LIST GOES ON
  7. 7. @twg #techraking “This industry is a dying giant” What TV is doing to the movie industry. 
 - U.S. News & World Report (1958)
  8. 8. @twg #techraking EVERYTHING GETS DISRUPTED
  9. 9. v10,000 15,000 2001 2006 2011 13,28013,320 12,965 No fewer journalists in Canada since 2001 (Statistics Canada) Despite layoffs and buyouts at newspapers, the total number of Canadians saying they work as journalists has held steady over the past decade.
  10. 10. @twg #techraking NOBODY’S RUNNING OUT OF IDEAS But we’ll want to identify the good ones.
  11. 11. @twg #techraking@twg #techraking
  12. 12. @twg #techraking@twg #techraking
  13. 13. @twg #techraking@twg #techraking
  14. 14. @twg #techraking HOW DO WE MAKE SURE OUR IDEAS ARE GOOD?
  15. 15. AVOID
  16. 16. Front Porch Forum You???TSN @twg #techraking ABOUT US
  17. 17. @twg #techraking You’re a good researcher and connector who knows how to ask the right questions You’re resourceful, and don’t get discouraged when someone tells you ‘no’ You’re a great writer and editor JOURNALISTS = GREAT ENTREPRENEURS
  18. 18. @twg #techraking “Even as revenue-strapped news outlets continue to cut staff, we need to celebrate in 2014 a new reality: Media entrepreneurship is at an all-time high” ! - Jan Schaffer, Executive Director of J-Lab
  19. 19. “LIFE’S TOO SHORT TO BUILD SOMETHING NOBODY WANTS.” - @ASHMAURYA
  20. 20. @twg #techraking THE OLD WAY AND THE NEW WAY
  21. 21. @twg #techraking Lean Canvas: Your Startup Blueprint
  22. 22. @twg #techraking Lean Canvas: Your Startup Blueprint
  23. 23. @twg #techraking 1. CUSTOMER SEGMENTS & PROBLEM • List the 3 biggest problems your customer has • List existing alternatives
  24. 24. @twg #techraking 2. UNIQUE VALUE PROPOSITION • Single compelling message stating your difference and value. • Target early adopters • Focus on finished story benefits
  25. 25. @twg #techraking 3. SOLUTION • Sketch out the top features or capabilities for each problem
  26. 26. @twg #techraking 4. CHANNELS • Channels are how your business will reach its customers • They let people know about your product • PR, SEO,Word of Mouth
  27. 27. @twg #techraking 5. REVENUE STREAMS AND COST STRUCTURE • How will you make money? • How much money do you need to make?
  28. 28. @twg #techraking 6. KEY METRICS • One or two key activities that will drive people to use your product • One or two key activities that prove your product is useful
  29. 29. @twg #techraking 7. UNFAIR ADVANTAGE • Channels are how your business will reach its customers • They let people know about your product • PR, blogging, email
  30. 30. @twg #techraking@twg #techraking
  31. 31. @twg #techraking THEINFORMATION.COM
  32. 32. “IN A STARTUP NO FACTS EXIST INSIDE THE BUILDING. ONLY OPINIONS” - @SGBLANK
  33. 33. @twg #techraking Test the hypotheses of your Lean Canvas Learn as much as you can about your customers and their pain Keep going until you stop learning CUSTOMER DISCOVERY
  34. 34. GET OUT OF THE BUILDING
  35. 35. DO INTERVIEWS (YOU MIGHT HAVE DONE THIS BEFORE)
  36. 36. @twg #techraking Ask about their problems. “What is the hardest part about _____.” Learn about their pain, and what they currently do to resolve it. Listen, romance, repeat, record CUSTOMER DISCOVERY “PROBLEM” INTERVIEWS
  37. 37. @twg #techraking Tell your customers your value prop and solution details. Present something. How are they solving it today? Is this better? Will they commit to trying it and a price? CUSTOMER DISCOVERY “SOLUTION” INTERVIEWS
  38. 38. @twg #techraking THEN WHAT? Repeat, interview, and fine tune your Solution. Do this until you feel ready to create your ‘Minimum Viable Product’ to launch. Track the metrics.. looking for traction.
  39. 39. @twg #techraking Steve Blank - The friendly ‘Godfather’ of Lean
  40. 40. @twg #techraking ““I am more bullish about the future of the news industry over the next 20 years than almost anyone I know. You are going to see it grow 10X to 100X from where it is today. “ ! - Marc Andreesen
  41. 41. @twg #techraking Request for submissions open atYCombinator On The Future of Journalism: ycombinator.com/rfs1.html
  42. 42. @twg #techraking THANK YOU Email: dom@twg.ca Ping: @dombort
  43. 43. #TECHRAKING

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