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Lean Startup 101 at India Accelerator

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Overview of Lean Startup Methodology for start-ups at India Accelerator

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Lean Startup 101 at India Accelerator

  1. 1. Lean Startup Deepak Sharma 9th Nov’ 2017
  2. 2. Agenda: - What is Lean? What is Startup? What is Lean Startup? - Case Studies - Risks - Stages of a Startup Lifecycle - What is MVP / MVE? - Assumption / Hypothesis / Experiment / Pivot or Persevere - Validated Learning / BML - Lean Startup Myths - How do we win?
  3. 3. About Me Catalyst | Change Agent | Philomath Lean Startup, India Accelerator Passionate about running Avid Marathon Runner
  4. 4. Let’s face the truth!
  5. 5. Why do startups fail?
  6. 6. What is a startup? “A human institution designed to create a new product or service under conditions of extreme uncertainty.” – Eric Ries
  7. 7. What is Lean?
  8. 8. What is Lean Startup? “A method to systemically address uncertainty through rapid iteration and market learning.”
  9. 9. What is Lean Startup?
  10. 10. What are the 3 stages in a startup lifecycle?
  11. 11. What kinds of Uncertainty? Technical & Product Risk Can we build this? Customer & Market Risk If we build this, will people buy it? Business Model Risk Once we build this, can we make money from it?
  12. 12. What is MVP?
  13. 13. What is MVP?
  14. 14. What is an assumption? • Starts with “I/We believe that” statements • Clarifies your current understanding of what you don’t know with uncertainty • Some are more important that others • Identify and isolate critical assumptions
  15. 15. Assumptions Example
  16. 16. Prioritize Assumptions Impact Time Horizon
  17. 17. What is hypothesis? • “If then” statement that helps design tests for an assumption • Clarifies your current understanding of what uncertainty you seek to resolve • Is Specific in action, timing, value / amount of impact • Helps to design and build a MVP
  18. 18. Hypothesis Example
  19. 19. What is an Experiment? • A scientific test undertaken to make a discovery, test a hypothesis, or demonstrate a known fact • Process of rapidly learning what customers want and will pay for • Test Assumptions so that you don’t waste time and money building the wrong thing
  20. 20. What is a MVP (Minimum Viable Product)? • Experiment that helps you validate (or invalidate) hypothesis about the value or growth potential of a new product • MVP helps you answer a specific question about one of your assumptions • Building a MVP is not a one time event
  21. 21. What is Pivot/Persevere? • Pivot – Change in direction without a change in Vision • Persevere – A team’s decision to test the next most important hypothesis
  22. 22. What is Validated Learning?
  23. 23. What is Validated Learning? • Identify assumptions • Isolate critical assumptions for testing • Draft your hypothesis to be tested • Build an Experiment • Measure the Results • Persevere or Pivot
  24. 24. Lean Startup Myths • Myth#1: – Lean means cheap. Lean Startups try to spend as little money as possible • Myth#2: – Lean Startup is applicable for Internet/Consumer Software Companies • Myth#3: – Applicable for small bootstrapped startups
  25. 25. What is a startup path to success?
  26. 26. What is a startup path to success?
  27. 27. How do you win? Recognizing your key assumptions Test Assumptions Early & Often Don’t spend time & money building wrong things
  28. 28. THANK YOU ! 32

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