This document provides an overview of lean startup methodology. It discusses key concepts like minimum viable products (MVPs), hypotheses, experiments, pivoting, and validated learning. The document is presented as part of a talk on lean startup that covers: [1] defining lean, startups, and lean startup; [2] case studies; [3] risks and stages of a startup lifecycle; [4] MVPs and assumptions; [5] experiments and pivoting; [6] validated learning; [7] myths about lean startup; and [8] how to succeed as a startup.

1. Lean Startup
Deepak Sharma
9th Nov’ 2017

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. About Me
Catalyst | Change Agent | Philomath
Lean Startup, India Accelerator
Passionate about running
Avid Marathon Runner

4. Let’s face the truth!

5. Why do startups fail?

6. What is a startup?
“A human institution designed to create a
new product or service under conditions
of extreme uncertainty.” – Eric Ries

7. What is Lean?

8. What is Lean Startup?
“A method to systemically address
uncertainty through rapid iteration and
market learning.”

9. What is Lean Startup?

14. What are the 3 stages in a startup lifecycle?

15. 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?

16. What is MVP?

17. What is MVP?

18. 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

19. Assumptions Example

20. Prioritize Assumptions
Impact
Time Horizon

21. 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

22. Hypothesis Example

23. 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

24. 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

25. 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

26. What is Validated Learning?

27. 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

28. 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

29. What is a startup path to success?

30. What is a startup path to success?

31. How do you win?
Recognizing your key assumptions
Test Assumptions Early & Often
Don’t spend time & money building wrong things

32. THANK YOU !
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