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Lean ideation workshop

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Lean ideation workshop

  1. 1. Developing lean ideas IDEASAlan Jones Chief Growth Hacker BlueChilli 1
  2. 2. TONIGHT… AGENDA ‣ Introductions: who are we? At what stage in the idea process are we? ‣ Rapid review of Lean Methodology ‣ A lean case study ‣ What makes an entrepreneurial idea? ‣ Homework ☹ 2
  3. 3. 3 • Makes money; or • Creates other value for the entrepreneur • Builds awareness/personal brand • Proves/hones your skills What’s a lean entrepreneurial idea?
  4. 4. • Coming up with a new way to achieve something as fast as possible, using as little money and time as possible • Using the resources you have available to you • Not spending serious money until you’re sure you can earn it back 4 What’s lean entrepreneurial ideation mean?
  5. 5. @BIGYAHU 5 About me ‣ Early Microsoft online product manager ‣ Early Yahoo! hire ‣ Co-founded HomeScreen, Bluepulse, Pollenizer, The New Agency, FromLittleThings.co ‣ Invested in Startmate, Pollenizer, Blackbird VC, ChromaSun, BugHerd, OtherLevels, Scriptrock
  6. 6. 6 About you ‣ Who are you? ‣ What have you done? ‣ What do you do now? ‣ Do you have an idea to develop? ‣Share it briefly with the class ‣We’ll return to it later ‣ or are you here to learn how to find one? ‣What do you hope to do with your ideas?
  7. 7. 7 The value of ideas ‣ An idea is worth very little, what counts is developing and executing on your idea ‣ BUT ‣ You can’t develop and execute if you have no idea ‣ …so ideas are important!
  8. 8. INTRODUCTION 8 Risk and sharing ‣ “The biggest risk… is not whether you can deliver it, but whether anybody wants it” — Pollenizer ‣ http://friendda.org - hand outs
  9. 9. lean ideation case study LEAN ENTREPRENEURIAL IDEAS 9 TRIPPYTHING
  10. 10. 1Trippything 10 People might need help managing travel itineraries • Take six months and $300k to build a web platform • Believe focus group market research on revenue models • Spend $250k on marketing and launch • Spend $30k on 3mths ad sales team salaries • Find everybody loves it but users don’t want to pay or advertise • Total potential spend $750k
  11. 11. 1Trippything 11 Lean ideation approach • 1 week to design a brand and an interface mockup • 1 day to setup A/B testing landing pages to test benefits, features and price variations • 2 hours to review landing page data • 1 day to realise Trippything was a great idea at the wrong time • Total estimated spend: $1,500
  12. 12. 12
  13. 13. 1 13 Think people might need help managing travel itineraries TRIPPYTHING LEAN PROCESS 1. 1 week to design a brand and an interface mockup 2. 1 day to setup A/B testing landing pages to test benefits, features and price variations 3. 2 hours to review landing page data 4. 1 day to realise Trippything was a great idea at the wrong time 5. Total estimated spend: $1,500 LEAN idea DEVELOPMENT
  14. 14. IT’S NOT ABOUT ONE IDEA LEAN ENTREPRENEURIAL IDEAS The WD-40 story and Norm Larsen’s nuclear missiles It’s about multiple ideas — “Ideases” With ideases, each idea leverages what you’ve learned from your previous ideas 14
  15. 15. EXERCISE: CREATIVE JUICES 15 Take one of the following products Develop 10x one- sentence descriptions that will sell it ‣ Johnsons Baby Wipes ‣ Uber cars ‣ iPhone 5 ‣ Australian Tax Office ‣ Path app for iOS/Android ‣ A golden retriever puppy
  16. 16. Where do ideas come from? – Seth Godin 16 Listening to a lecture
  17. 17. Where do ideas come from? – Seth Godin 17 Reading a book (but not watching TV)
  18. 18. Where do ideas come from? – Seth Godin 18 From bad ideas (but only if you have enough of them)
  19. 19. Where do ideas come from? – Seth Godin 19 • Ideas hate conference rooms • Ideas fear experts • Ideas adore a beginner’s mind (a little awareness is a beautiful thing)
  20. 20. Where do ideas come from? – Neil Gaiman 20 “The Ideas aren't the hard bit. They're a small component of the whole. Creating believable people who do more or less what you tell them to is much harder. And hardest by far is the process of simply sitting down and putting one word after another to construct whatever it is you're trying to build: making it interesting, making it new. “
  21. 21. 21 Execution planning ‣ If ideas aren’t important, what is? ‣ Execution: developing your idea, testing it, finding customers for it, retaining customers and maximising their lifetime value ‣ How much time can you dedicate? When will it be? ‣ Write down your execution plan
  22. 22. 22 Resource audit ‣ What resources do you have to call upon? ‣ You might have money (but not time) ‣ You might have time (but not money) ‣ Friends with skills and time ‣ Mentors with experience and connections ‣ Lean methodologies ‣ List your resources now
  23. 23. EXERCISE 23 Cliché surfing ‣ Take a cliché and invert, deny or scale it
  24. 24. 24 Idea cloud exercise Starting idea Change product/service Change customer Change pricing model Change channel Product/Servi ce Diapers to your door Diapers to your workplace Diapers to your door Diapers to your door Diapers to your door Customer First-time young mums Workplace creche Twin/triplet mums First-time young mums First-time young mums Pricing model Monthly subscription Annual contract Monthly subscription Buy nappy credits Monthly subscription Marketing channel Parenting magazines HR department sales call Relatives through PR Parenting magazines Daily deals site (e.g. Spreets)
  25. 25. BONUS EXERCISE 25 Lean canvas
  26. 26. INSPIRATION 26 Resources I recommend ‣ Blungr and Domainr for product names and domains ‣ Namestall for names ‣ CPC ads on Facebook, Google ‣ Tumblr or WordPress for a test environment ‣ Twitter and Facebook pages for free social marketing ‣ Mailchimp ‣ Launchrock ‣ Canvanizer for lean canvas in the cloud ‣ General Assembly community
  27. 27. HOMEWORK LEAN ENTREPRENEURIAL IDEAS 1. Write a <300 word story on a company that developed a product or service through lean methodology. What do you think they did right or wrong? What would you have done differently? 2. Develop your favourite idea as a Lean Canvas, either alone or with a class member. 3. Join the Google Group to get help and share ideas — leave me your email address for an invite to the private group. 27
  28. 28. Q&A LEAN ENTREPRENEURIAL IDEAS 28

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