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Innovative entrepreneurship - Noorderlingen

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Innovative entrepreneurship workshop for the Noorderlingen in Groningen

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Innovative entrepreneurship - Noorderlingen

  1. 1. Innovative Entrepreneurship Noorderlingen workshop - February 4th 2015
  2. 2. Leon Pals Chairman Startup Foundation Founder of several of its initiatives @leonpals leon@startupfoundation.co
  3. 3. Startup Foundation An independent not for profit [or for impact] organisation, driving innovation by supporting startups
  4. 4. Who are you? Name & expertise Problem?
  5. 5. “A startup is a temporary organisation searching for a repeatable and scalable business model” - Steve Blank
  6. 6. Effectuation A framework for entrepreneurial thinking
  7. 7. Causal thinking = Managerial thinking = Choosing the best means to achieve a goal
  8. 8. Effectual thinking = Entrepreneurial thinking = Imagining new ends with a given set of means
  9. 9. Effectuation principles To get you started on the right track
  10. 10. 12
  11. 11. Bird in hand Who are you and what do you have?
  12. 12. 14
  13. 13. Affordable loss What can you afford to lose?
  14. 14. Lemonade Embrace surprises
  15. 15. Lemonade Embrace surprises And always bring salt & tequila
  16. 16. 19
  17. 17. Crazy quilt Form partnerships to cover your weaknesses
  18. 18. 21
  19. 19. Pilot in the plane Focus on what you can control
  20. 20. Pilot in the plane Control vs. predict
  21. 21. Because the future is made Control vs. predict
  22. 22. Let’s do a small game We love games.
  23. 23. “If I can predict the future, I can control it” - ?
  24. 24. “If I can predict the future, I can control it” - Any experienced manager
  25. 25. “If I can control the future, I don’t need to predict it” - ?
  26. 26. “If I can control the future, I don’t need to predict it” - Any experienced entrepreneur
  27. 27. “Great Scott!” - ?
  28. 28. “Great Scott!” - You
  29. 29. Innovative entrepreneurship Or Effectuation, Customer Development, Lean Startup and dozens of canvasses.
  30. 30. Startup ≠ small version of big company
  31. 31. Startup ≠ small version of big company Startups are temporary organisations in search of a repeatable and scalable business model
  32. 32. Startup ≠ small version of big company Startups are temporary organisations in search of a repeatable and scalable business model search = innovative
  33. 33. Startup ≠ small version of big company Startups are temporary organisations in search of a repeatable and scalable business model search = innovative = uncertain
  34. 34. Companies execute Which is what they are good at They have managers that predict, operate and plan using something called the Waterfall method
  35. 35. Webvan The tale of a Startup that wanted to be a Company
  36. 36. $1.200.000.000
  37. 37. $1.200.000.000 Nothing left, except
  38. 38. Nine out of ten fail
  39. 39. Nine out of ten fail Because they try to be a company: Plan, Build & Launch
  40. 40. Time Waterfall
  41. 41. Time Risk Waterfall
  42. 42. Time Risk Agile Waterfall
  43. 43. Startups don’t fail because of product development Most of us know what we can build
  44. 44. Startups fail because of a lack of customers Just because you build it, that does not mean they will come
  45. 45. By Steve Blank Customer development
  46. 46. Customer development Customer Discovery Customer Validation Customer Creation Company Building Pivot
  47. 47. Search Customer Discovery Customer Validation Customer Creation Company Building Pivot
  48. 48. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Pivot
  49. 49. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Pivot
  50. 50. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Confirm Pivot
  51. 51. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Confirm AARRR Pivot
  52. 52. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Confirm CEO hired Pivot AARRR
  53. 53. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Confirm CEO hired Entrepreneurs start to think about leaving Pivot AARRR
  54. 54. Lean Startup = Customer development combined with Agile product development
  55. 55. Search Customer Discovery Customer Validation Learn Confirm Pivot Learn Learning is mostly done by talking to potential customers. But can also be achieved through observation and customer feedback
  56. 56. Search Customer Discovery Customer Validation Learn Confirm Pivot Confirm Confirmation can be achieved through several kinds of tests, depending on what you want to confirm.
  57. 57. Customer Discovery Customer Validation Customer Creation Company Building Pivot
  58. 58. Build Measure Learn Lean Startup Process Build Measure Learn Loop Ideas ProductData
  59. 59. Validated learning Decreases uncertainty
  60. 60. Validated learning Decreases uncertainty Minimises risk
  61. 61. Validated learning Decreases uncertainty Minimises risk Increases chances of success
  62. 62. Seriously though You do not launch a startup, you steer it to success.
  63. 63. It is okay to start like this
  64. 64. Time for a challenge
  65. 65. Challenge Who knows? W O R K S H O P I N T R A C T O
  66. 66. Challenge Who knows? Illustrations by Esther Gons @wilg
  67. 67. Illustrations by Esther Gons @wilg
  68. 68. Customer Conversations
  69. 69. Learn Confirm
  70. 70. Why would you have Customer Conversations?
  71. 71. 87
  72. 72. What would you like to be more sure of?
  73. 73. Topics Generate topics
  74. 74. Customer Development Ga het gesprek aan W O R K S H O P I N T R A C TO
  75. 75. Dear mom, Don’t you think I’m great? Love, Your son
  76. 76. It’s not just your mom People want to be helpful, more than being honest.
  77. 77. How can we get facts?
  78. 78. How can we get facts? - Talk about their life, not your concept
  79. 79. How can we get facts? - Talk about their life, not your concept - Ask about specifics,
  80. 80. How can we get facts? - Talk about their life, not your concept - Ask about specifics, from the past
  81. 81. How can we get facts? Anything future related is worthless as we cannot predict the future with certainty.
  82. 82. Do you think this is a good idea?
  83. 83. Do you think this is a good idea?
  84. 84. How do you currently deal with this?
  85. 85. How do you currently deal with this?
  86. 86. When does this happen?
  87. 87. When does this happen?
  88. 88. Would you buy a product that would solve this?
  89. 89. Would you buy a product that would solve this?
  90. 90. Please show me how you do this?
  91. 91. Please show me how you do this?
  92. 92. Can you talk me through the last time that you experienced this?
  93. 93. Can you talk me through the last time that you experienced this?
  94. 94. How much would you pay for this?
  95. 95. How much would you pay for this?
  96. 96. How much does this currently cost you?
  97. 97. How much does this currently cost you?
  98. 98. How do we do this as casual as possible?
  99. 99. Scene of the customer
  100. 100. Start with softball [easy to handle] questions
  101. 101. How do you screw it up?
  102. 102. How do you screw it up? - Use a script or survey instead of topics
  103. 103. How do you screw it up? - Use a script or survey instead of topics - Talk about your business, instead of listening
  104. 104. How do you screw it up? - Use a script or survey instead of topics - Talk about your business, instead of listening - Try to sell, instead of learn
  105. 105. Learn Confirm
  106. 106. Good or bad conversation?
  107. 107. “That’s so cool. I love it!”
  108. 108. “That’s so cool. I love it!”
  109. 109. “There are a couple of people I can introduce you to, when you’re ready.”
  110. 110. “There are a couple of people I can introduce you to, when you’re ready.”
  111. 111. “What are the next steps?”
  112. 112. “What are the next steps?”
  113. 113. “Looks great, let me know when it launches.”
  114. 114. “Looks great, let me know when it launches.”
  115. 115. “Can I buy the prototype?”
  116. 116. “Can I buy the prototype?”
  117. 117. “When can you come back and talk to the rest of the team?”
  118. 118. “When can you come back and talk to the rest of the team?”
  119. 119. Commitments
  120. 120. Commitments - Time [next meeting, taking part in trial]
  121. 121. Commitments - Time [next meeting, taking part in trial] - Reputation risk [introduction to peers]
  122. 122. Commitments - Time [next meeting, taking part in trial] - Reputation risk [introduction to peers] - Cash [letter of intent, deposit, pre-order or sale]
  123. 123. 128
  124. 124. JFDI - Set topics - Do at least 5 to 10 Customer Conversations
  125. 125. Test Design
  126. 126. Learn Confirm
  127. 127. Minimum Viable Product
  128. 128. Minimum Viable Product Test
  129. 129. Minimum effort towards validated learning
  130. 130. Search Customer Discovery Customer Validation Customer Creation Company Building Execute Learn Confirm CEO hired Entrepreneurs start to think about leaving Pivot AARRR
  131. 131. Search Customer Discovery Customer Validation Learn Confirm Pivot Confirm Confirmation can be achieved through several kinds of tests, depending on what you want to confirm.
  132. 132. Test cases Options are merely limited by your imagination
  133. 133. Video + Landingpage 75.000 signups
  134. 134. Wizard of Oz Proved people would buy shoes online
  135. 135. Concierge Created early customers
  136. 136. A test drives validated learning
  137. 137. But what do we need to learn? You need to find your riskiest assumption, and a way to (in)validate it.
  138. 138. The riskiest assumption is the one that, if proven false, will kill your business
  139. 139. How to design a test
  140. 140. How to design a test - Set your learning goal
  141. 141. How to design a test - Set your learning goal - Form a falsifiable hypothesis to test
  142. 142. How to design a test - Set your learning goal - Form a falsifiable hypothesis to test - Make it measurable
  143. 143. How to design a test - Set your learning goal - Form a falsifiable hypothesis to test - Make it measurable - Set a fail condition
  144. 144. How to design a test - Set your learning goal - Form a falsifiable hypothesis to test - Make it measurable - Set a fail condition - Set a time-box
  145. 145. Build Measure Learn Lean Startup Process Build Measure Learn Loop Ideas ProductData
  146. 146. If you cannot fail, you cannot learn About half your tests should fail
  147. 147. Accept failure as validated learning Swallow your pride, become successful
  148. 148. JFDI Design a test, conditions: Must have a learning goal, based on a falsifiable hypothesis and measurable. Also think about the time-box and fail conditions.
  149. 149. What have we learned?
  150. 150. Let’s get real
  151. 151. Ideas are generic
  152. 152. Jargon & Buzzwords Make a Startup less actionable
  153. 153. Tests
  154. 154. Why get hands on?
  155. 155. Why get hands on?
  156. 156. "Entrepreneurship is something you learn best by doing it” - Paul Graham
  157. 157. But most of all
  158. 158. It is reality The red pill
  159. 159. “Put your ideas into practise, they will improve if you take note of what happens next”
  160. 160. - Leon Pals “Put your ideas into practise, they will improve if you take note of what happens next”
  161. 161. So why do we see so many peers struggling?
  162. 162. So why do we see so many peers struggling? Fear
  163. 163. “The greatest barrier to success is the fear of failure” Sven Goran Eriksson
  164. 164. What is Lean Startup?
  165. 165. “Do a little, see if it works” - Tendayi Viki
  166. 166. Theorising/debating/ planning Might make you sound smart, or not
  167. 167. Lessons learned
  168. 168. Gain credibility
  169. 169. You might create something
  170. 170. Red pill Assumptions Meetings Theory Your comfort zone Blue pill Validated learnings Running tests Experience Where the magic happens
  171. 171. Thank you. Any questions? @LeonPals Thank you. Any questions?

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