Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Lean startup meetup sydney june 2017

226 views

Published on

Pollenizer lessons in the trenches

Published in: Business
  • Nice Job!.... STARTUPS get funding...Send your pitchdeck to over 5700 of VC's and Angel's with just 1 click. Visit: Angelvisioninvestors.com
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Lean startup meetup sydney june 2017

  1. 1. Pollenizer lessons in the trenches Lean Startup Meetup Sydney June 2017
  2. 2. About me
  3. 3. Love at first sight…
  4. 4. Lean Startup Machine Sydney 2014 Buenos Aires 2013
  5. 5. Lessons learned 1. GOTM (get out of the building!) 2. Pivot, or persevere 3. Weekend winners were those who ruthlessly did “invalidate their assumptions”
  6. 6. Pollenizer v1.0 • Tech startup pioneers in Oz • Venture studio • Value created - Spreets (sold to Fairfax) - Wooboard (sold to Reffind) - Oomph - Lawpath
  7. 7. The pivot Pollenizer v2.0
  8. 8. vNEW GROWTH WITH STARTUP SCIENCE POLLENIZER Anyone can transform an idea into a world changing business. ● Method ● Tools ● People ● Network ● Funding New growth with Startup Science 2016 Source: Epic Flearn by Phil Morle, 25th of May 2017, CeBit conference
  9. 9. WE FAILED
  10. 10. GOOD.
  11. 11. A legacy that lives on • Mezo - a platform to deliver complex systems modelling, cost effectively and at scale • HiveXchange - online marketplace between fresh produce farmers and wholesale traders. • Upperstory - experiment management for reducing the risk of business initiatives. • X-lab - programs that convert deep tech innovation to commercialisation outcomes.
  12. 12. 3 key takeaways from supporting Lean Teams
  13. 13. 1
 Customer Development is NOT an optional
  14. 14. • “I know what the problem is, we experience it
 in-house!” • “Customers don’t know what they want” • “It’s impossible to get a significant sample” • “It’s important, but… [fear of not GOTB excuse]”
  15. 15. Avoiding the traps • People are always trying to be nice. • Don’t pitch the solution. Avoid the temptations! • Understand what’s in it for your interview subject as an exchange of value.
  16. 16. 2 An unfocused assumption is impossible to test!
  17. 17. Think and act like a scientist
  18. 18. Assumptions -> facts
  19. 19. 1. Pick a risky relationship on canvas or metric in funnel 2. Define a hypothesis 3. Build, test and share 4. Tweak and repeat, or change assumptions
  20. 20. It’s all about reducing
 uncertainty, yo!
  21. 21. Hypothesis validation at Facebook If students are actively checking on their classmate's interests and activities, we can grow our network by expanding this dynamic to more activities and social circles. Mark Zuckerberg - circa 2003 - early days at Harvard High-level hypothesis
  22. 22. 2007 - Activation: add your friends to FB ✅ 2005 - Referral: photo tagging ✅ 2008 - Retention: news feed ✅ 2009 - Revenue: gifting ❌ 2013 - Retention: social graph search ❌ en.wikipedia.org/wiki/Timeline_of_Facebook
  23. 23. Code wins arguments
  24. 24. Frameworks to de-risk • Lean Canvas (Ash Maurya) • Lean Analytics (Alistair Croll) • Value Proposition Canvas • Growth Hacking Experiment workflow (500 startups) • Upperstory
  25. 25. > assumptions < focus
  26. 26. Got focus?
  27. 27. 3 Skip a stage, and chances are you will fail
  28. 28. Measures against premature scaling 1. validate if the problem exists JTBD Pains and gains Target cohorts of personas 📊 # customers interviewed that confirm hypothesis 🎯 First cohort of early adopters identified
  29. 29. Measures against premature scaling 2. get your first users right MVP Branding One-liner Product description Communities of early adopters 📊 Conversion to first use 🎯 First cohort who successfully onboard
  30. 30. Measures against premature scaling 3. prove the utility delivered and keep iterating Feature releases Artifacts Strategic moats Retention Attribution CAC LTV 📊 Opportunity costs for the user 🎯 CAC < LTV or consistent OMTM growth
  31. 31. The pitfalls of
 getting to P/M fit 1. Wanting to get there quick. 2. Focusing on the solution and never validating the customer problem. 3. Depending on a channel to grow your initial customer base. 4. Moving targets.
  32. 32. If you think you have lost P/M fit, re-validate problem/solution fit
  33. 33. P/M fit is a transient state
  34. 34. Recap
  35. 35. 3 takeaways 1. Customer Development is NOT an optional 2. An unfocused assumption is impossible to test! 3. Skip a stage, and chances are you will fail
  36. 36. How my life continues…
  37. 37. What I’m reading now
  38. 38. Let me know if you can
 use someone like me …
  39. 39. Thank you! Follow me at @ferparra

×