Lean Startup Essentials            How to save time,            money & headaches                      Lean Startup Essent...
Lean Startup Essentials                          About Me        • Entrepreneur            (Efficient Cloud, Soup.io)      ...
Lean Startup Essentials                          Focus        • #1 - Presenting to Investors & Press        • #2 - Make So...
Lean Startup Essentials         Based on the work by              these folks                          & many others
Lean Startup Essentials             Its gonna    Why am I       WOW!           be awesome!    doing this?   It works!     ...
Lean Startup Essentials                          Why am I                          doing this?                            ...
Lean Startup Essentials                                   Product/                                   Market Fit           ...
Lean Startup Essentials                  How can we                 hack growth?
Lean Startup Essentials           How can we reach           Product/Market                 Fit?
Lean Startup Essentials                   Startup:         Temporary organization used to       search for a repeatable an...
Lean Startup Essentials                           We need to                          experiment                          ...
Lean Startup Essentials        1. ?        2. ?        3. Growth!
Lean Startup Essentials        1. ?        2. Run Experiments        3. Growth!
Lean Startup Essentials        1. Understand your Business Model        2. Run Experiments        3. Growth!
Lean Startup Essentials   #1: The Lean Canvas          Understand Your           Business Model
Lean Startup Essentials                                           #1: The Lean Canvas               The Business          ...
Lean Startup Essentials                                    #1: The Lean Canvas          The Lean Canvas               BM C...
Lean Startup Essentials                                                            #1: The Lean Canvas      Problem       ...
Lean Startup Essentials                                      #1: The Lean Canvas    Customer Segments        • Persona of ...
Lean Startup Essentials                                     #1: The Lean Canvas                          Problem        • ...
Lean Startup Essentials                                      #1: The Lean Canvas         Value Proposition        • Single...
Lean Startup Essentials                                      #1: The Lean Canvas                          Solution        ...
Lean Startup Essentials                                         #1: The Lean Canvas                          Channels     ...
Lean Startup Essentials                                   #1: The Lean Canvas         Revenue Streams       • How much is ...
Lean Startup Essentials                     #1: The Lean Canvas          This document is alive          and easy to updat...
Lean Startup Essentials   #2: Run Experiments          Run Experiments
Lean Startup Essentials   #2: Run Experiments       Build-Measure-Learn
Lean Startup Essentials   #2: Run Experiments            Launch               =       First iteration
Lean Startup Essentials    #2: Run Experiments          Speed of iteration                beats          Quality of iterat...
Lean Startup Essentials   #2: Run Experiments          How can you       experiment faster?
Lean Startup Essentials   #2: Run Experiments           Instead of         “Will it work?”               ask     “Do custo...
Lean Startup Essentials                 #2: Run Experiments            Customer Interviews                 30 min in-perso...
Lean Startup Essentials                         #2: Run Experiments       How to conduct an interview                     ...
Lean Startup Essentials                      #2: Run Experiments            Online Market Tests:                  Google A...
Lean Startup Essentials           #2: Run Experiments                 MVP: Minimum                 Viable Product
Lean Startup Essentials                 #2: Run Experiments                Example:         Idealab’s CarsDirect          ...
Lean Startup Essentials              #2: Run Experiments                          Example:                          mjam.at
Lean Startup Essentials                Ignore at your own risk.                          Why am I                         ...
Lean Startup Essentials                                 Thanks!                                       Lukas Fittl         ...
Lean Startup Essentials - March 2012
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Lean Startup Essentials - March 2012

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At STARTup Live Vienna 2012, followed by a call-in with Ash Maurya.

New material: Improved why is this relevant, brought into context to the "we need to raise money" point of view.

Licensed under CC-BY-NC-SA - feel free to share, embed and re-use in your presentations, please give attribution. Thanks!

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  • Lean Startup Essentials - March 2012

    1. 1. Lean Startup Essentials How to save time, money & headaches 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.
    2. 2. Lean Startup Essentials About Me • Entrepreneur (Efficient Cloud, Soup.io) • Member of Spark59 (Lean Canvas, Running Lean) • http://founderswiki.com/
    3. 3. Lean Startup Essentials Focus • #1 - Presenting to Investors & Press • #2 - Make Something People Want
    4. 4. Lean Startup Essentials Based on the work by these folks & many others
    5. 5. Lean Startup Essentials Its gonna Why am I WOW! be awesome! doing this? It works! oo oo oo
    6. 6. Lean Startup Essentials Why am I doing this? oo
    7. 7. Lean Startup Essentials Product/ Market Fit Why am I WOW! doing this? It works! oo oo
    8. 8. Lean Startup Essentials How can we hack growth?
    9. 9. Lean Startup Essentials How can we reach Product/Market Fit?
    10. 10. Lean Startup Essentials Startup: Temporary organization used to search for a repeatable and scalable business model. As defined by Steve Blank.
    11. 11. Lean Startup Essentials We need to experiment & learn. Not execute blindly.
    12. 12. Lean Startup Essentials 1. ? 2. ? 3. Growth!
    13. 13. Lean Startup Essentials 1. ? 2. Run Experiments 3. Growth!
    14. 14. Lean Startup Essentials 1. Understand your Business Model 2. Run Experiments 3. Growth!
    15. 15. Lean Startup Essentials #1: The Lean Canvas Understand Your Business Model
    16. 16. Lean Startup Essentials #1: The Lean Canvas The Business Model Canvas Alex Osterwalder - Business Model Generation http://businessmodelgeneration.com
    17. 17. Lean Startup Essentials #1: The Lean Canvas The Lean Canvas BM Canvas adjusted for early-stage Ash Maurya - Running Lean http://book.runningleanhq.com
    18. 18. Lean Startup Essentials #1: 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
    19. 19. Lean Startup Essentials #1: The Lean Canvas Customer Segments • Persona of your Key Partners Key Activities Value Customer Customer Proposition Relationships Segments prototypical (early) customer Key Channels Resources Cost Structure Revenue Streams • Narrow group of people that buy/use your product • Marketing is easier if you have a narrow customer segment
    20. 20. Lean Startup Essentials #1: The Lean Canvas Problem • What is the use case? Problem Key Activities Value Customer Customer Proposition Relationships Segments Key Channels • What are the problems the Resources Cost Structure Revenue Streams customer is trying to solve? • These might be things they’ve already started building in house, because there is an active need
    21. 21. Lean Startup Essentials #1: 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
    22. 22. Lean Startup Essentials #1: 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
    23. 23. Lean Startup Essentials #1: 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.
    24. 24. Lean Startup Essentials #1: 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!
    25. 25. Lean Startup Essentials #1: The Lean Canvas This document is alive and easy to update (not like your rusty old business plan)
    26. 26. Lean Startup Essentials #2: Run Experiments Run Experiments
    27. 27. Lean Startup Essentials #2: Run Experiments Build-Measure-Learn
    28. 28. Lean Startup Essentials #2: Run Experiments Launch = First iteration
    29. 29. Lean Startup Essentials #2: Run Experiments Speed of iteration beats Quality of iteration
    30. 30. Lean Startup Essentials #2: Run Experiments How can you experiment faster?
    31. 31. Lean Startup Essentials #2: Run Experiments Instead of “Will it work?” ask “Do customers care?”
    32. 32. Lean Startup Essentials #2: Run Experiments Customer Interviews 30 min in-person with your prototypical customer People like talking about their field - explore their worldview.
    33. 33. Lean Startup Essentials #2: Run Experiments 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
    34. 34. Lean Startup Essentials #2: Run Experiments 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?”
    35. 35. Lean Startup Essentials #2: Run Experiments MVP: Minimum Viable Product
    36. 36. Lean Startup Essentials #2: Run Experiments Example: Idealab’s CarsDirect Back in ’98
    37. 37. Lean Startup Essentials #2: Run Experiments Example: mjam.at
    38. 38. Lean Startup Essentials Ignore at your own risk. Why am I doing this? oo
    39. 39. Lean Startup Essentials Thanks! 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.

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