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The end of the (startup) world as we know it

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Lean Startup and Customer Development basics; MVP, the pivot, funnel, product-market fit, value path

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The end of the (startup) world as we know it

  1. The end of the (startup) world as we know it UCSD Nov 10, 2010 Brant Cooper @brantcooper marketbynumbers.com
  2. The New Startup Reality Global Inexpensive Social Data-intelligent Savvy
  3. The End of the (Startup) World As We Know It 100s of thousands of Entrepreneurs Lean Startups to prove business model Capital to serve entrepreneurs (not vice versa) End of the dominance of the “big win” Creating an economic “Innovation Machine”
  4. Basic Tenet of a Lean Startup Your business model will change You have limited $ Maximize pivots/$
  5. Product + Customer Development
  6. Philosophy Question your assumptions Get out of the building Don’t “Just Do It”
  7. Principles The 4 Steps Iterate vs Pivot MVP= Viable is as important as Minimum Product Market Fit is not a binary state Launch early <> Marketing Launch Customer Development <> Data
  8. Pivot
  9. Minimum Viable Product
  10. Product-Market Fit The Shangri-La of startups - You know you’re there when you don’t have to ask - You have scalability issues - You grow despite your flaws - You look and feel young, but are growing old quickly -You may get there today and be lost tomorrow
  11. Nail it Before You Scale it Pre-mature Self-Aggrandization is Anathema - PR is vanity - “Launch early” means get users while imperfect - Marketing launch = fill up your funnel - Pre P-M fit do the former, not the latter - Tech crunch bump can be deadly
  12. Customer Development Practices Business Model Whiteboard Document Your Assumptions Build MVP to Minimize Risk Flip your Funnel Get Out of the Building
  13. Business Model White Board
  14. Core Business Assumptions • Who is your customer • What Problem are you solving • What is the proposed (high-level) solution?
  15. MVP • What functionality do you propose? • What features are your early adopters asking for? • What do you hope to achieve with your MVP? • What “currency” is your customer willing to pay?
  16. Flip Your Funnel
  17. Get Out of the Building “Just Do it” scenarios (ie no #custdev) You hit out of the park, you don’t care. Good Job. Ka Ching. Break a leg. Otherwise, you are lost.
  18. Next: Lean Startup
  19. Lean Startups ≠ Bootstrapping
  20. Lean Startups ≠ Small
  21. Lean Startups ≠ Dictatorship of the Customer Your customer
  22. Lean Startups ≠ Deterministic
  23. Lean Startups ≠ Any Guarantee of Success
  24. Resources @sgblank – www.steveblank.com @ericries – startuplessonslearned.com @seanellis – startup-marketing.com @hnshah – blog.kissmetrics.com @richcollins – LSC google group
  25. 20% Discount CODE: UCSD PDF http://CustDev.com Paperback (AMAZON) http://bit.ly/EGCDPaperback Kindle (AMAZON) http://bit.ly/EGCDKindle Contact Info: hello@custdev.com @vlaskovits http://vlaskovits.com @brantcooper http://marketbynumbers.com

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