“The Lean Startup method teachesyou how to drive a startup -how tosteer, when to turn, and when topersevere- and grow a business withmaximum acceleration.” theleanstartup.com/principles“There is absolutely no right answer .Like almost everything in a leanstartup, requires judgment.I t s a n a r t , n o t a s c i e n c e .” Eric Ries
A pivot is a structured course correction designed to test a new fundamental hypothesis about the product, business model and engine of growth.
Are we making progress? or Do we need a change?
A Pivot for each case Zoom-in Zoom-out Customer segmentA single feature The whole Good product, becomes the product becomes bad customerwhole product a single feature segment Customer need Platform Repositioning, or Change from an a completely new application to a product platform, or vice versa
Caution: more blind corners!Business architecture Value capture Engine of growthHigh margin, low volume Changes in the Picking how to or revenue model growth: viral,Low margin, high volume sticky and paid Channel Technology How the product New technology is delivered to improves the customers competitiveness
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LinksExcerpted from "The Lean Startup" bookhttp://www.entrepreneur.com/article/220302Top 10 ways entrepeneurs pivot a Lean Startuphttp://www.forbes.com/sites/martinzwilling/2011/09/16/top-10-ways-entrepreneurs-pivot-a-lean-startup/Split test exampleshttp://www.abtests.comSplit testinghttp://www.startuplessonslearned.com/2008/09/one-line-split-test-or-how-to-ab-all.htmlAsh Mauryahttp://www.ashmaurya.com/Lean Startup Metrics and Analiticshttp://www.slideshare.net/njvitto/lean-startup-metrics-analytics