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Lean Startup Essentials




                            Lean Startup
                             Essentials
                                           Lukas Fittl
                                           lukas@fittl.com

                                    Slides licensed under CC-BY-NC-SA.

                                  Lean Startup is trademarked by Eric Ries.
                            Business Model Canvas is created by Alex Osterwalder
                                       and licensed under CC-BY-SA.



Thursday, 27 October 2011
Lean Startup Essentials                                   #1: Introduction



                                 Agenda

                    • #1 Whats this all about?
                    • #2 Document your business & market
                    • #3 How to test B2B assumptions
                    • #4 How to test B2C assumptions

Thursday, 27 October 2011
Lean Startup Essentials                                    #1: Introduction




              Whats the Lean Startup?
                                     • Reduce the (unavoidable)
                                       chaos in a startup
                                     • Increase your rate of
                                       success
                                     • Test your business
      Eric Ries - The Lean Startup
              http://lean.st           assumptions

Thursday, 27 October 2011
Lean Startup Essentials                      #1: Lean Startup




                     Most startups fail
                from a lack of (paying) customers.




Thursday, 27 October 2011
Lean Startup Essentials                  #1: Lean Startup




                            Why?

                Wrong assumptions about your
                customer, the market, how much
                       they will pay, etc.


Thursday, 27 October 2011
Lean Startup Essentials                                #1: Lean Startup




                             Startup:
                   Temporary organization used to
                 search for a repeatable and scalable
                         business model.
                            As defined by Steve Blank.




Thursday, 27 October 2011
Lean Startup Essentials                      #2: The Lean Canvas




                                   We need
                            structured learning
                              before we execute.



Thursday, 27 October 2011
Lean Startup Essentials               #2: The Lean Canvas




                            Document Your
                               Business


Thursday, 27 October 2011
Lean Startup Essentials                                                #2: The Lean Canvas




                       The Lean Canvas




      Alex Osterwalder - Business Model Generation   Ash Maurya - Running Lean
              http://businessmodelgeneration.com      http://book.runningleanhq.com



Thursday, 27 October 2011
Thursday, 27 October 2011
Lean Startup Essentials                                                                    #2: The Lean Canvas


               Problem          Solution             Unique Value Unfair                  Customer
                                                     Proposition  Advantage               Segments
               Top 3 problems    Top 3 features
                                                     Single, clear,      Can’t be easily  Target customers
                                                     compelling          copied or bought
                                                     message that
                                                     states why you
                                                     are different and
                                Key Metrics          worth buying        Channels

                                Key activities you                       Path to
                                measure                                  customers




               Cost Structure                                 Revenue Streams

               Customer Acquisition Costs                     Revenue Model
               Distribution Costs                             Life Time Value
               Hosting                                        Revenue
               People, etc.                                   Gross Margin




Thursday, 27 October 2011
Lean Startup Essentials                                                   #2: The Lean Canvas




                                      Problem
                    • The top 3 problems the
                                                          Problem          Key Activities   Value          Customer        Customer
                                                                                            Proposition    Relationships   Segments




                            customer is facing today,
                                                                           Key                             Channels
                                                                           Resources




                            within a given context
                                                          Cost Structure                            Revenue Streams




                    • These might be things they’ve
                            already started building in
                            house, because there is an
                            active need


Thursday, 27 October 2011
Lean Startup Essentials                                                #2: The Lean Canvas




            Customer Segments
                    • Narrow group of people that
                                                       Key Partners     Key Activities   Value          Customer        Customer
                                                                                         Proposition    Relationships   Segments




                            buy/use your product
                                                                        Key                             Channels
                                                                        Resources




                                                       Cost Structure                            Revenue Streams




                    • Marketplace biz models =
                            2 cust segmens (or more)




Thursday, 27 October 2011
Lean Startup Essentials                                                     #2: The Lean Canvas




                     Value Proposition
                    • Single, clear, compelling
                                                            Key Partners     Key Activities   Value          Customer        Customer
                                                                                              Proposition    Relationships   Segments




                            message that turns an unaware
                                                                             Key                             Channels
                                                                             Resources




                            visitor into an interested
                                                            Cost Structure                            Revenue Streams




                            prospect
                    • Your elevator pitch
                    • What you put on your
                            landing page


Thursday, 27 October 2011
Lean Startup Essentials                                                 #2: The Lean Canvas




                                      Solution
                    • Whats the Minimum viable
                                                        Key Partners     Key Activities   Value          Customer        Customer
                                                                                          Proposition    Relationships   Segments




                            product (MVP) ?
                                                                         Key                             Channels
                                                                         Resources




                                                        Cost Structure                            Revenue Streams




                    • Minimal set of functionality to
                            solve each problem of the
                            customer




Thursday, 27 October 2011
Lean Startup Essentials                                                        #2: The Lean Canvas




                                    Channels
                    • How does the customer learn
                                                               Key Partners     Key Activities   Value          Customer        Customer
                                                                                                 Proposition    Relationships   Segments




                            about your product?
                                                                                Key                             Channels
                                                                                Resources




                                                               Cost Structure                            Revenue Streams




                    • B2B and B2C vastly different!
                    • SEM, SEO, Friend Invites, Social
                            Media, Direct Sales, Tradeshows,
                            PR, Content Marketing, etc.



Thursday, 27 October 2011
Lean Startup Essentials                                                #2: The Lean Canvas




                      Revenue Streams
                • How much is the problem
                                                       Key Partners     Key Activities   Value          Customer        Customer
                                                                                         Proposition    Relationships   Segments




                        worth to the customer?
                                                                        Key                             Channels
                                                                        Resources




                                                       Cost Structure                            Revenue Streams




                • Not how much it costs you
                        to implement the solution
                • Avoid Free and Freemium
                        Its just a marketing tactic!



Thursday, 27 October 2011
Lean Startup Essentials              #2: Document Your Market




                            Document Your
                               Market


Thursday, 27 October 2011
Lean Startup Essentials                                                                                                                                                                                #2: Document Your Market



                    Example: Music Business
                     Usage in TV productions, ...           GEMA & Co




                                                          Artist Manager                                  Publisher                           PR                Record Pressing
                                                                                                                                   Radio, Print, Internet, TV



                                                                                                          50/50 Cut




                                                         Booking Agent           fixed fee / show            Artist                     Record Label




                                                          revenue share,
                                                    details depending on offer




                               Venue                        Promoter                                      sales price                    Distributor                              Digital Distributor
                                                                                                     excl. cost for record



                                                                                                                                                                 almost nothing      ~ 50c/song           nothing   excl. shipping expenses




                          Beverage Sales                  Ticket Sales                             Tour Merchandise Sales          In-Store Record Sales            emusic             iTunes             Spotify   Label Online Shop Sales




                                                                                                                             Fan




Thursday, 27 October 2011
Lean Startup Essentials                                                                                                       #2: Document Your Market



               Example: Hosting Industry
                                         Controlpanels                  onapp                        Virtualization


                                              Plesk                                           Virtuozzo               KVM
                                                               Technology Providers

                                                    cPanel                                  VMware           Xen




                                     Focus on
                                   PHP/Rails/etc.            Location             Support              Company Size

                             Storage Hardware                    Hosting Industry                         Company Culture


                            Shared Hosting      Cloud/VPS Hosting               Managed Hosting        Platform as a Service




                                                                                                        Successful
                                Mass Market                                                             Web Apps
                                                                   Customers

                                                                                                     New/Failed
                                        Agencies                   Developers                        Web Apps




Thursday, 27 October 2011
Lean Startup Essentials                        #2: Document Your Business & Market




             These documents are alive
               and easy to update

                       (not like your rusty old business plan)



Thursday, 27 October 2011
Lean Startup Essentials             #3: Testing B2B Assumptions




                            Test Your B2B
                             Assumptions


Thursday, 27 October 2011
Lean Startup Essentials                                     Literature




                                           Listen to customers.

                                           Do NOT execute
                                           on a made-up plan.
                   http://steveblank.com




Thursday, 27 October 2011
Lean Startup Essentials                       #3: Testing B2B Assumptions




                            Customer Interviews

                               30 min in-person with
                             your prototypical customer

                  People like talking about their field -
                       explore their worldview.


Thursday, 27 October 2011
Lean Startup Essentials                       #3: Testing B2B Assumptions




                 How to conduct an interview

                            1.   Set context & tell your story
                            2.   Tell your problem hypothesis
                            3.   Listen to their worldview
                            4.   Ask for follow up / references


                      DO NOT sell them your solution

Thursday, 27 October 2011
Lean Startup Essentials                             #2: Customer Discovery




                            Online Market Tests:

                                Google Adwords
                             Fake Landing Page with
                        “Signup to be notified when we launch”
                       “Can we call you to ask a couple of Qs?”



Thursday, 27 October 2011
Lean Startup Essentials                    #2: Customer Discovery




                             Amy Hoy’s
                            Sales Safari:

                 Lurk in online forums of your
               customer segment, learn how they
                 talk about products & benefits


Thursday, 27 October 2011
Lean Startup Essentials             #4: Testing B2C Assumptions




                            Test Your B2C
                             Assumptions


Thursday, 27 October 2011
Lean Startup Essentials     #4: Testing B2C Assumptions




                 Build-Measure-Learn




Thursday, 27 October 2011
Lean Startup Essentials           #4: Testing B2C Assumptions




                 Iterate quickly through the
                    loop and improve your
                 engagement & retention
                          metrics.



Thursday, 27 October 2011
Lean Startup Essentials




                            Thanks!



Thursday, 27 October 2011

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Lean Startup Essentials - Le Camping Edition

  • 1. Lean Startup Essentials Lean Startup Essentials Lukas Fittl lukas@fittl.com Slides licensed under CC-BY-NC-SA. Lean Startup is trademarked by Eric Ries. Business Model Canvas is created by Alex Osterwalder and licensed under CC-BY-SA. Thursday, 27 October 2011
  • 2. Lean Startup Essentials #1: Introduction Agenda • #1 Whats this all about? • #2 Document your business & market • #3 How to test B2B assumptions • #4 How to test B2C assumptions Thursday, 27 October 2011
  • 3. Lean Startup Essentials #1: Introduction Whats the Lean Startup? • Reduce the (unavoidable) chaos in a startup • Increase your rate of success • Test your business Eric Ries - The Lean Startup http://lean.st assumptions Thursday, 27 October 2011
  • 4. Lean Startup Essentials #1: Lean Startup Most startups fail from a lack of (paying) customers. Thursday, 27 October 2011
  • 5. Lean Startup Essentials #1: Lean Startup Why? Wrong assumptions about your customer, the market, how much they will pay, etc. Thursday, 27 October 2011
  • 6. Lean Startup Essentials #1: Lean Startup Startup: Temporary organization used to search for a repeatable and scalable business model. As defined by Steve Blank. Thursday, 27 October 2011
  • 7. Lean Startup Essentials #2: The Lean Canvas We need structured learning before we execute. Thursday, 27 October 2011
  • 8. Lean Startup Essentials #2: The Lean Canvas Document Your Business Thursday, 27 October 2011
  • 9. Lean Startup Essentials #2: The Lean Canvas The Lean Canvas Alex Osterwalder - Business Model Generation Ash Maurya - Running Lean http://businessmodelgeneration.com http://book.runningleanhq.com Thursday, 27 October 2011
  • 11. Lean Startup Essentials #2: The Lean Canvas Problem Solution Unique Value Unfair Customer Proposition Advantage Segments Top 3 problems Top 3 features Single, clear, Can’t be easily Target customers compelling copied or bought message that states why you are different and Key Metrics worth buying Channels Key activities you Path to measure customers Cost Structure Revenue Streams Customer Acquisition Costs Revenue Model Distribution Costs Life Time Value Hosting Revenue People, etc. Gross Margin Thursday, 27 October 2011
  • 12. Lean Startup Essentials #2: The Lean Canvas Problem • The top 3 problems the Problem Key Activities Value Customer Customer Proposition Relationships Segments customer is facing today, Key Channels Resources within a given context Cost Structure Revenue Streams • These might be things they’ve already started building in house, because there is an active need Thursday, 27 October 2011
  • 13. Lean Startup Essentials #2: The Lean Canvas Customer Segments • Narrow group of people that Key Partners Key Activities Value Customer Customer Proposition Relationships Segments buy/use your product Key Channels Resources Cost Structure Revenue Streams • Marketplace biz models = 2 cust segmens (or more) Thursday, 27 October 2011
  • 14. Lean Startup Essentials #2: The Lean Canvas Value Proposition • Single, clear, compelling Key Partners Key Activities Value Customer Customer Proposition Relationships Segments message that turns an unaware Key Channels Resources visitor into an interested Cost Structure Revenue Streams prospect • Your elevator pitch • What you put on your landing page Thursday, 27 October 2011
  • 15. Lean Startup Essentials #2: The Lean Canvas Solution • Whats the Minimum viable Key Partners Key Activities Value Customer Customer Proposition Relationships Segments product (MVP) ? Key Channels Resources Cost Structure Revenue Streams • Minimal set of functionality to solve each problem of the customer Thursday, 27 October 2011
  • 16. Lean Startup Essentials #2: The Lean Canvas Channels • How does the customer learn Key Partners Key Activities Value Customer Customer Proposition Relationships Segments about your product? Key Channels Resources Cost Structure Revenue Streams • B2B and B2C vastly different! • SEM, SEO, Friend Invites, Social Media, Direct Sales, Tradeshows, PR, Content Marketing, etc. Thursday, 27 October 2011
  • 17. Lean Startup Essentials #2: The Lean Canvas Revenue Streams • How much is the problem Key Partners Key Activities Value Customer Customer Proposition Relationships Segments worth to the customer? Key Channels Resources Cost Structure Revenue Streams • Not how much it costs you to implement the solution • Avoid Free and Freemium Its just a marketing tactic! Thursday, 27 October 2011
  • 18. Lean Startup Essentials #2: Document Your Market Document Your Market Thursday, 27 October 2011
  • 19. Lean Startup Essentials #2: Document Your Market Example: Music Business Usage in TV productions, ... GEMA & Co Artist Manager Publisher PR Record Pressing Radio, Print, Internet, TV 50/50 Cut Booking Agent fixed fee / show Artist Record Label revenue share, details depending on offer Venue Promoter sales price Distributor Digital Distributor excl. cost for record almost nothing ~ 50c/song nothing excl. shipping expenses Beverage Sales Ticket Sales Tour Merchandise Sales In-Store Record Sales emusic iTunes Spotify Label Online Shop Sales Fan Thursday, 27 October 2011
  • 20. Lean Startup Essentials #2: Document Your Market Example: Hosting Industry Controlpanels onapp Virtualization Plesk Virtuozzo KVM Technology Providers cPanel VMware Xen Focus on PHP/Rails/etc. Location Support Company Size Storage Hardware Hosting Industry Company Culture Shared Hosting Cloud/VPS Hosting Managed Hosting Platform as a Service Successful Mass Market Web Apps Customers New/Failed Agencies Developers Web Apps Thursday, 27 October 2011
  • 21. Lean Startup Essentials #2: Document Your Business & Market These documents are alive and easy to update (not like your rusty old business plan) Thursday, 27 October 2011
  • 22. Lean Startup Essentials #3: Testing B2B Assumptions Test Your B2B Assumptions Thursday, 27 October 2011
  • 23. Lean Startup Essentials Literature Listen to customers. Do NOT execute on a made-up plan. http://steveblank.com Thursday, 27 October 2011
  • 24. Lean Startup Essentials #3: Testing B2B Assumptions Customer Interviews 30 min in-person with your prototypical customer People like talking about their field - explore their worldview. Thursday, 27 October 2011
  • 25. Lean Startup Essentials #3: Testing B2B Assumptions How to conduct an interview 1. Set context & tell your story 2. Tell your problem hypothesis 3. Listen to their worldview 4. Ask for follow up / references DO NOT sell them your solution Thursday, 27 October 2011
  • 26. Lean Startup Essentials #2: Customer Discovery Online Market Tests: Google Adwords Fake Landing Page with “Signup to be notified when we launch” “Can we call you to ask a couple of Qs?” Thursday, 27 October 2011
  • 27. Lean Startup Essentials #2: Customer Discovery Amy Hoy’s Sales Safari: Lurk in online forums of your customer segment, learn how they talk about products & benefits Thursday, 27 October 2011
  • 28. Lean Startup Essentials #4: Testing B2C Assumptions Test Your B2C Assumptions Thursday, 27 October 2011
  • 29. Lean Startup Essentials #4: Testing B2C Assumptions Build-Measure-Learn Thursday, 27 October 2011
  • 30. Lean Startup Essentials #4: Testing B2C Assumptions Iterate quickly through the loop and improve your engagement & retention metrics. Thursday, 27 October 2011
  • 31. Lean Startup Essentials Thanks! Thursday, 27 October 2011