Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011

37,508 views

Published on

Published in: Technology, Business

Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011

  1. LEAN STARTUP WORKSHOPPractical ways to turn your idea into a successful product
  2. WHO ARE WE Stuart Eccles Charlotte Hillenbrand Cath Richardson Salim Virani Rob Fitzpatrick
  3. EXPLOITINGDISRUPTIVEINNOVATION
  4. MAKING STUFF
  5. THE LEAN STARTUP MOVEMENT
  6. • Rapid prototyping to test hypotheses• Minimum Viable Product (MVP)• Nail it then scale it• Customer obsession• THE LEAN STARTUP MOVEMENT Iterative, metrics-driven & Agile• Learn fast, don’t fail fast
  7. SCIENTIFICAPPROACH TO STARTUP/ PRODUCTDEVELOPMENT
  8. ITS ABOUT RUNNINGEXPERIMENTS
  9. BEFORE SCALING TO UNIVERSE DENTING PROPORTIONS
  10. HOW DO WE KNOW WE AREMAKING PROGRESS?The unit of success we use ismeasure in “validated learning”
  11. BREAKING GROUNDON AN IDEA
  12. HOW DO YOU KNOW IF YOUR IDEA IS WORTH YOUR TIME, MONEY, EFFORT?
  13. “We always have a visionthat is clearly articulated, bigenough to matter & sharedby the whole team.“Our goal is always todiscover which aspects ofthis vision are grounded inreality & adapt thoseaspects that are not.”
  14. BY TESTING YOUR IDEA ON YOURPOTENTIAL CUSTOMERS YOU WILL LEARN IF YOU ARE ON TO SOMETHING
  15. DO THEY HAVE WILL THEY PAY THIS YOU FOR YOUR PROBLEM? SOLUTION?
  16. CUSTOMER DEVELOPMENTAn active approach to engagingwith users which tests ourassumptionsAnd builds customer intimacywith potential customers
  17. GET OUT OF THEBUILDING
  18. THIS IS WHAT WE WILLCONCENTRATE ON TODAYBiggest barriers to realising thevalue of Lean Startup:Talking to peopleGiving over your ideas toexamined in broad daylight
  19. BUILDING AN MVP
  20. THE MINIMUM VIABLE PRODUCTThe minimal set of features thatsolves the problem and providesvalueSomething that can be measured andtunedDoesn’t have to have the same formas the final product
  21. EXPERIMENTING AND OPTIMISING
  22. INNOVATION ACCOUNTINGMeasure what is actionable,track every input and changeRun split experiments to proveyour hypothesis on your product
  23. +152%
  24. OPTIMISING THROUGH METRICSAND CUSTOMER INTERVIEWS WORK IN TANDEM
  25. SKYPE IN THE CLASSROOM
  26. SKYPE CAME TO US WITH ACOMMS BRIEFThey’d noticed that teachers all over theworld were using Skype in extraordinaryways.They wanted us to collect these storiesand use them to promote the service &inspire other teachers.
  27. WE RESPONDED WITH SOMENON-MARKETING IDEASLayer a new service on top of the basicfree communication serviceUse a customer-centric and test-drivenway of working out what that servicewould be
  28. OUR INITIAL ASSUMPTIONS WERETHAT IT WAS ALL ABOUT A LESSON PLANNING TOOL WITH EXAMPLES,IDEAS AND TIPS ON INTEGRATING SKYPE INTO LEARNING
  29. We discovered immediately that their biggest obstacle was actually finding other teachers who also used Skype
  30. They also told us that teachers don’t have time to read lots of lesson plans - video clips would be much more helpful
  31. BRAINSTORM SKETCHING USE CASES PROTOTYPES USER JOURNEY SKETCHES INTERVIEWS HIGH FIDELITY DESIGNS SERVICE MODELS
  32. ONLINE SURVEYS
  33. PIVOT ORPERSEVERE
  34. AN INTUITIVE LEAPLOCALMAXIMA
  35. “Our goal is always todiscover whichaspects of this visionare grounded inreality & adapt thoseaspects that are not.”
  36. PIVOT: ONE FOOT STAYS WHILETHE OTHER MOVESIn course correction to a newstrategy to test a new fundamentalhypothesisA human decision assisted bymetrics and customer intimacyShould be hard and fast with a newstrategy already defined
  37. TYPES OF PIVOT
  38. ZOOM-IN PIVOTWhat was considered a singlefeature becomes the entireproduct.
  39. ZOOM-OUT PIVOTWhat was considered the entireproduct becomes a feature(s) ofthe new product.
  40. CUSTOMER SEGMENT PIVOTThe product is valuable but notto its intended customers so anew customer segment isdefined.CUSTOMER ZOOM-INCUSTOMER ZOOM-OUT
  41. CUSTOMER NEED PIVOTThe problem solved is not veryimportant, or money isn’tavailable to buy. This requiresrepositioning, or a new product,to find a problem worth solving.
  42. PLATFORM PIVOTFrom an application/solution toa platform or vice versa
  43. BUSINESS ARCHITECTURE PIVOTFrom low margin/high volume tohigh margin/low volume or viceversa
  44. ENGINE OF GROWTH PIVOTStickyViralPaid
  45. WRAP UP
  46. LEAN STARTUP ISN’T THAT HARDFind a culture of testing,experimenting and iterating.Make Test LearnBuild an MVP
  47. http://leanca.mphttp://blog.thestartuptoolkit.comhttp://madebymany.com/signals/ the-lean-startup-movement @robfitz@crashtherocks @saintsal @ohrworm @stueccles
  48. LEAN STARTUP MEETING ATUCL TONIGHT!

×