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Lean entrepreneur

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Lean entrepreneur

  1. 1. Our Books
  2. 2. A Disruptive Wave is Building
  3. 3. Volatility, Uncertainty, Opportunity.
  4. 4. Winners Those whocontinuously create new value for new customers.
  5. 5. Lean Entrepreneurs Surf UncertaintyThe culture startup youBusiness planOld school around Your company culture Lean Startup Business model
  6. 6. What is Lean?• Elimination of waste in the production and delivery of value to customer
  7. 7. Value Stream• Producing a known product (mini-van) for a known consumer (soccer mom)• Value-add activities (assemble part)• Non value-add activities (forklift parts across warehouse)
  8. 8. Lean Objective• Lose waste: – Make value-add activities more efficient – Eliminate non value-add activities (if possible) – Must maintain value to customer
  9. 9. Measurement of Waste• Excess Inventory• Excess Labor• Unused or scrap raw material
  10. 10. What is Lean Startup?• Don’t know value• Don’t know customer• Elimination of waste in discovering value and customer
  11. 11. Lean Startup Value Stream• If you don’t know what value, how do you know what activities are wasteful?
  12. 12. Lean Startup Measurement of Waste• Validated Learning
  13. 13. How do you build something people need?
  14. 14. The Lean EntrepreneurCustomer Interaction & Segmentation
  15. 15. The Lean Entrepreneur
  16. 16. The Lean Entrepreneur Data & Actionable Metrics
  17. 17. Innovation Spectrum
  18. 18. Optimize inside out Reach Acquisition Funnel Activation Passion Engagement
  19. 19. Market Segment & “Value Stream”
  20. 20. your market• Product-Market ft is driven by nailing core value proposition for hyper segmented markets• Growth is determined by pursuing multiple segments over time.• Size of opportunity is determined by size & number of segments
  21. 21. Bowling Pin Strategy
  22. 22. market segmentation• People who share the same pain and speak the same language.
  23. 23. segmentation clues• Different level pain or passion• Seek to solve problem differently• Require different marketing• Require different distribution• Require different sales• Not necessarily demographic-based• Not “verticals”
  24. 24. Segment MatrixCriteria Depth of Market Time to Budget Reach ValuesSegment Pain Size MVPSole Chef H M M H M HTeam ind. H H M H M HSmall Corp M H H M L M Big Corp M H H L L L
  25. 25. Pain or Passion Who Impact ofInfluences Market addressing them? Segment pain/passion Where do they “hang out?”
  26. 26. Value Stream Discovery Aware Aware Passionat Passionat Intrigued Intrigued ee Customer Satisfed Satisfed Segment Convince Convince dd Hopeful Hopeful Trusting Trusting
  27. 27. Business Model Passionat Passionat Convince Convince Satisfed Satisfed Hopeful Hopeful Trusting Trusting Intrigued Intrigued Aware Aware ee ddGrowth MVP Conversion Funnel AcquisitionEngine
  28. 28. WhyCompany Customer Desired Activity Behavior State Metric
  29. 29. CUSTOMER is passionate because: Own business grows Having used the product for several months, the customer is seeing her own company grow. Your product has helped her COMPANY: achieve this. CUSTOMEROver achieves BEHAVIOR: She is PASSIONATE about youron value prop; Passionate Refers product; product.Offers referral resubscribes She resubscribes to your product incentive AND takes you up on your offer to get a month free if she refers the product to others and they buy. METRIC: Referrals; MustHaveScore Lifetime value (LTV)
  30. 30. CUSTOMER is satisfed because: is able to see market signal for own product The customer is using the product COMPANY: on a regular basis and it is doing RESULTING what was promised. Provides BEHAVIOR:wizard, survey She is SATISFIED with your Continues to tool, Satisfed use the product product. dashboard; in a specifc way She uses the assumption wizard,“instruments” the survey tool, and the dashboard over time product on a regular basis. METRIC: Engagement - Sends survey every 2 wks; Views dashboard daily
  31. 31. CUSTOMER is hopeful because: wants specifc problem solved, eg wants to track market signal The customer has purchased. She is eager to get started, but also may have feelings of regret, COMPANY: wondering if it was the right Overcome RESULTING decision. ‘blank slate’; BEHAVIOR: Offers free Hopeful Uses wizard, She is HOPEFUL your product works as promised and addresses‘getting started’ sends survey her need. support To test, she logs in, documents her assumptions, creates survey, and sends it out. METRIC: Activation Creates and Sends survey
  32. 32. CUSTOMER is convinced when: Has demo’d the product and believes it is a good ft COMPANY: The customer successfully demo’dAllows customer the product and believes the to use demo RESULTING product will work for her. features; Convinced BEHAVIOR: She is CONVINCED your FAQ allays last Purchases product will work. minute fears; She buys the product.Final phone call METRIC: Pays
  33. 33. CUSTOMER is trusting when: Impressed with testimonials and reference was glowing. COMPANY: Inside Sales RESULTING The customer reads testimonials calls customer; and TRUSTS your business. BEHAVIOR:offers reference; Trusting Wants to try She wishes to demo the product. talks about product demo program METRIC: Signs up for trial
  34. 34. CUSTOMER is intrigued when: Product sounds like it’s positioned for her; Benefts sounds right Having read the messaging that states that this will help her business grow, she believes the product might be a good ft.COMPANY: RESULTINGMessaging/ BEHAVIOR: She is INTRIGUED about thePositioning Intrigued Requests product. Video Contact She would like to speak with a sales person and talk to a reference. METRIC: Sales Call
  35. 35. CUSTOMER: Reads frst learns product reading about it on a blog. Having discovered the product viaCOMPANY: a blogger she respects, she is BEHAVIOR: INTRIGUED about the product.Reach out to 3rd party Aware Visits company She visits your web site to read Web Site blogger more. METRIC: Unique Visitors by referral
  36. 36. Thank You!• Twitter/Facebook/LinkedIn: @brantcooper• email: brant@marketbynumbers.com• Blog: Market By Numbers• Book site: http://leanentrepreneur.co 41

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