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Lean Startup
Product Teams
Principles of Success

Janice Fraser
CEO, LUXr




                        1
© LUXR.CO APRIL 2013
                       2
TWEET!

                       @clevergirl


                       #LeanStartup
                       cc @LUXRCO


© LUXR.CO APRIL 2013
                                      3
http://saptstrength.com/




© LUXR.CO APRIL 2013
                                                  4
sedonaweddingcakes.com




© LUXR.CO APRIL 2013
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freebestpictures.blogspot.com




© LUXR.CO APRIL 2013
                                                6
thekitchn.com




© LUXR.CO APRIL 2013
                                       7
brides.com




© LUXR.CO APRIL 2013
                                    8
brides.com




© LUXR.CO APRIL 2013
                                    9
sedonaweddingcakes.com
                                          brides.com
                                     brides.com




© LUXR.CO APRIL 2013
                                                       10
LEAN
                       Startup

© LUXR.CO APRIL 2013
                                 11
Build
                       measure
                        learn!




© LUXR.CO APRIL 2013
                                 12
© LUXR.CO APRIL 2013
                       13
Lean Startup is NOT

                        Cheap Startup

                         Fast Startup

                       Shortcut Startup
© LUXR.CO APRIL 2013
                                             14
Lean Startup is...

     An approach for building companies that are
     creating new products and services in
     situations of extreme uncertainty.


     The approach advocates creating small
     products that test the entrepreneur’s
     assumptions, and using customer feedback to
     evolve the product, thereby reducing waste.


© LUXR.CO APRIL 2013
                                                   15
1.    List your assumptions.
          2.    Understand your customers.
          3.    Experiment efficiently.
          4.    Adjust direction based on evidence.

© LUXR.CO APRIL 2013
                                                      16
Lean Startup advocates experiments & learning



                       Learn             Build




                               Measure


© LUXR.CO APRIL 2013
                                                        17
Go backward to go forward.

                       Learn             Build




                               Measure


© LUXR.CO APRIL 2013
                                                 18
Think of it like this...

                               TDD
        Test-driven product management

            A Lean Startup is a test-driven
                      COMPANY
© LUXR.CO APRIL 2013
                                                  19
Victory is
                       measured in
                        learning.


© LUXR.CO APRIL 2013
                                     20
RISK = UNVALIDATED EFFORT
                                          Plot the difference


                                                                   MAKE
                                                                            release
                                                         MAKE
                                                                  release
                                                 MAKE   release



                                  THINK


                                                                                TIME



© LUXR.CO APRIL 2013
                                                                                       21
RISK = UNVALIDATED EFFORT
                                  Lots of little wiggles




                                                           TIME



© LUXR.CO APRIL 2013
                                                                  22
Each wiggle is a learning cycle.
      RISK = UNVALIDATED EFFORT




                                          MEASURE
                                                    MAKE

                                  BUILD         release
                                               BUILD



                                                           TIME

                                      LEARN
© LUXR.CO APRIL 2013
                                                                  23
This will change
                          how you think
                         about your role,
                         your work, your
                       team, your process.

© LUXR.CO APRIL 2013
                                             24
© LUXR.CO APRIL 2013
                       25
Principles for Lean Startup Teams
           1. Team first, then product.
           2. PM + Dev + UX = 1 Product Team
           3. Work out loud.
           4. Make processes repeatable, then routine.
           5. Don’t get stuck in your happy place.
           6. Invest in clarifying the problem.
           7. Drive toward goals and measure outcomes.
           8. Ideas are cheap. Have a lot of them.
           9. Decide quickly. Hold decisions lightly.
           10. Don’t carry the past.
© LUXR.CO APRIL 2013
                                                         26
Team first,
                       then product

© LUXR.CO APRIL 2013
                                      27
Team first,
                              then product
               • Not just who’s on the team, but how
                       they work together (no ninjas, gurus,
                       rockstars!)

               • Invest time in developing productive
                       relationships

               • Continuous process improvement

© LUXR.CO APRIL 2013
                                                               28
29
Chris Min
10 years as CEO, Wharton MBA,
      Silicon Valley trained
                                30
Burning
               social capital

© LUXR.CO APRIL 2013
                                31
Why does this matter to
                   Lean Startups?
               • Most of your decisions as a team, as
                       a company, will be wrong.

               • Flexible teams can solve almost any
                       problem.

               • Respectful, trusting team wastes little
                       time on pettiness, gossip, arguments


© LUXR.CO APRIL 2013
                                                              32
Don’t carry the past.




© LUXR.CO APRIL 2013
                                           33
© LUXR.CO APRIL 2013
                       34
Tom Conrad
            Grew Pandora from 10 people to IPO
© LUXR.CO APRIL 2013
                                                 35
© LUXR.CO APRIL 2013
                       36
© LUXR.CO APRIL 2013
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© LUXR.CO APRIL 2013
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© LUXR.CO APRIL 2013
                       39
Pandora-Style Planning
    •     Whole company (up to 6 ppl), every 60 or 90 days.

    •     Ahead of the meeting, everyone submits requests to the CEO/
          CTO, with the prompt “We would be stupid not to…”

    •     Submit each idea as a slide, with a headline and a few bullet
          points to explain.

    •     70-100 items. CEO/CTO de-duplicates and assigns a $-value that
          represents the amount of effort

    •     “Dollars” are created in an amount that represents current
          capaticy, divided equally among the 6 participants.

    •     Day-long working session to “shop” for the most important items.

    •     Chuck the unfunded. Group the fully funded, nearly funded,
          radically under-funded.

    •     Discuss and bargain until you have a set of fully funded items.
© LUXR.CO APRIL 2013
                                                                             40
Friday, before I left for
                   this conference.



© LUXR.CO APRIL 2013
                                            41
© LUXR.CO APRIL 2013
                       42
Lean Startup teams believe in...
   (from Lean Manufacturing and Extreme Programming)


                       Simplicity
                       Courage
                       Trust
                       Process
                       Continuous Improvement




© LUXR.CO APRIL 2013
                                                       43
The Influence of Agile

    “The courage to speak truths,
    pleasant or unpleasant, fosters
    communication and trust.

    “The courage to discard failing
    solutions and seek new ones
    encourages simplicity.

    “The courage to seek real,
    concrete answers creates
    feedback.”


© LUXR.CO APRIL 2013
                                      44
If you get the
                       team right, you’ll
                        find your way to
                       the right product.


© LUXR.CO APRIL 2013
                                            45
Thank you!

                         happiness@luxr.co

                            #LeanStartup

                       cc @LUXRCO, @clevergirl


© LUXR.CO APRIL 2013
                                                 46

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2013 intersect principles keynote

  • 1. Lean Startup Product Teams Principles of Success Janice Fraser CEO, LUXr 1
  • 3. TWEET! @clevergirl #LeanStartup cc @LUXRCO © LUXR.CO APRIL 2013 3
  • 10. sedonaweddingcakes.com brides.com brides.com © LUXR.CO APRIL 2013 10
  • 11. LEAN Startup © LUXR.CO APRIL 2013 11
  • 12. Build measure learn! © LUXR.CO APRIL 2013 12
  • 13. © LUXR.CO APRIL 2013 13
  • 14. Lean Startup is NOT Cheap Startup Fast Startup Shortcut Startup © LUXR.CO APRIL 2013 14
  • 15. Lean Startup is... An approach for building companies that are creating new products and services in situations of extreme uncertainty. The approach advocates creating small products that test the entrepreneur’s assumptions, and using customer feedback to evolve the product, thereby reducing waste. © LUXR.CO APRIL 2013 15
  • 16. 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence. © LUXR.CO APRIL 2013 16
  • 17. Lean Startup advocates experiments & learning Learn Build Measure © LUXR.CO APRIL 2013 17
  • 18. Go backward to go forward. Learn Build Measure © LUXR.CO APRIL 2013 18
  • 19. Think of it like this... TDD Test-driven product management A Lean Startup is a test-driven COMPANY © LUXR.CO APRIL 2013 19
  • 20. Victory is measured in learning. © LUXR.CO APRIL 2013 20
  • 21. RISK = UNVALIDATED EFFORT Plot the difference MAKE release MAKE release MAKE release THINK TIME © LUXR.CO APRIL 2013 21
  • 22. RISK = UNVALIDATED EFFORT Lots of little wiggles TIME © LUXR.CO APRIL 2013 22
  • 23. Each wiggle is a learning cycle. RISK = UNVALIDATED EFFORT MEASURE MAKE BUILD release BUILD TIME LEARN © LUXR.CO APRIL 2013 23
  • 24. This will change how you think about your role, your work, your team, your process. © LUXR.CO APRIL 2013 24
  • 25. © LUXR.CO APRIL 2013 25
  • 26. Principles for Lean Startup Teams 1. Team first, then product. 2. PM + Dev + UX = 1 Product Team 3. Work out loud. 4. Make processes repeatable, then routine. 5. Don’t get stuck in your happy place. 6. Invest in clarifying the problem. 7. Drive toward goals and measure outcomes. 8. Ideas are cheap. Have a lot of them. 9. Decide quickly. Hold decisions lightly. 10. Don’t carry the past. © LUXR.CO APRIL 2013 26
  • 27. Team first, then product © LUXR.CO APRIL 2013 27
  • 28. Team first, then product • Not just who’s on the team, but how they work together (no ninjas, gurus, rockstars!) • Invest time in developing productive relationships • Continuous process improvement © LUXR.CO APRIL 2013 28
  • 29. 29
  • 30. Chris Min 10 years as CEO, Wharton MBA, Silicon Valley trained 30
  • 31. Burning social capital © LUXR.CO APRIL 2013 31
  • 32. Why does this matter to Lean Startups? • Most of your decisions as a team, as a company, will be wrong. • Flexible teams can solve almost any problem. • Respectful, trusting team wastes little time on pettiness, gossip, arguments © LUXR.CO APRIL 2013 32
  • 33. Don’t carry the past. © LUXR.CO APRIL 2013 33
  • 34. © LUXR.CO APRIL 2013 34
  • 35. Tom Conrad Grew Pandora from 10 people to IPO © LUXR.CO APRIL 2013 35
  • 36. © LUXR.CO APRIL 2013 36
  • 37. © LUXR.CO APRIL 2013 37
  • 38. © LUXR.CO APRIL 2013 38
  • 39. © LUXR.CO APRIL 2013 39
  • 40. Pandora-Style Planning • Whole company (up to 6 ppl), every 60 or 90 days. • Ahead of the meeting, everyone submits requests to the CEO/ CTO, with the prompt “We would be stupid not to…” • Submit each idea as a slide, with a headline and a few bullet points to explain. • 70-100 items. CEO/CTO de-duplicates and assigns a $-value that represents the amount of effort • “Dollars” are created in an amount that represents current capaticy, divided equally among the 6 participants. • Day-long working session to “shop” for the most important items. • Chuck the unfunded. Group the fully funded, nearly funded, radically under-funded. • Discuss and bargain until you have a set of fully funded items. © LUXR.CO APRIL 2013 40
  • 41. Friday, before I left for this conference. © LUXR.CO APRIL 2013 41
  • 42. © LUXR.CO APRIL 2013 42
  • 43. Lean Startup teams believe in... (from Lean Manufacturing and Extreme Programming) Simplicity Courage Trust Process Continuous Improvement © LUXR.CO APRIL 2013 43
  • 44. The Influence of Agile “The courage to speak truths, pleasant or unpleasant, fosters communication and trust. “The courage to discard failing solutions and seek new ones encourages simplicity. “The courage to seek real, concrete answers creates feedback.” © LUXR.CO APRIL 2013 44
  • 45. If you get the team right, you’ll find your way to the right product. © LUXR.CO APRIL 2013 45
  • 46. Thank you! happiness@luxr.co #LeanStartup cc @LUXRCO, @clevergirl © LUXR.CO APRIL 2013 46