Applied lean™ MVP

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The first rev of what eventually became Applied Lean™, an interactive workbook and consult package available at www.theleanexperience.com.

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  • At the end of this you need to answer these questions in the affirmative.\n
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  • For expertise on \n
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  • If you have EIght Y’s - you are good to go - start building the product prototype!\n
  • The common knowledge in this movement is largely driven from the work of these people in the startup technology space.\n
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  • Applied lean™ MVP

    1. 1. Ms. Kelley Boyd @msksboyd Applied Lean™ The MVP Edition @LeanExp
    2. 2. Applied Lean™What is this? A slide deck targeted at people or companies that know something about lean and would like to apply it to a business challenge they are facing. In this deck are slides that you can print or replicate and customize Applied Lean™ for your purpose. You are meant to do the thing or answer the question in light gray type.What it is not: All Original material. Please see “ThoughtLeaders and Resources”What are you doing? Applying a process (“LEAN”) that allows you to identify and define a “high value” business (i.e. BUILD - MEASURE - LEARN) by asking questions.Why are you doing this? The goal is to move you and your team / target through these “experiments” to get to a place where you have reliable and valid data upon which to build a business model for your business.
    3. 3. Applied Lean™ The Eight Y’s* of Applied Lean™ Customer Validation - ! Have you interviewed potential or target customers? ! Have you integrated feedback into your solution? ! Built a base of fans or would be customers? Business Model -! ! Differentiated yourself from competitors?! ! Defined customer acquisition or rollout strategy?! ! Clearly and realistically articulated your revenue model?! Execution -! ! Developed a functional prototype?! ! Executed well as a team? *(Y = Yes ;>)
    4. 4. To get there ask these ?’s Problem Statement: So, what is the problem? Who has that problem? Solution Hypothesis: How are you going to fix that problem? Market Discovery: Has the problem been “fixed” before and of so what happened to that solution? What is wrong with how they did it? Build = Customer Discovery - for the purposes of this document, we consider the “Build” a crafted “survey” that will allow measure of interest in the proposed actual product. Measure = Customer Validation - How many people did you talk to about that? What did you ask them? What did they say? Learn = Product/Market fit - Based on what you learned - Is this a feature or a product? How big is that market? How would you approach capturing that market? Can you make money - and if so, how? MVP = A framework or actual product for “sale” to the target market and an associated effort to find and engage target customers
    5. 5. Now write it downKeep your iterations - meaning make copies each you time you refine your hypothesisPROBLEM STATEMENT: We think that _______ people have trouble doing ____?SOLUTION HYPOTHESIS: Describe In WordsMARKET DISCOVERY: What products currently exist in the space you are looking to build in andhow will your product will differ?Have there been other products built for this market segment and failed - if so - why? Why won’tyours?
    6. 6. Next, do this a bunch of timesKeep your iterations - meaning make copies each you time you refine your hypothesis Build B# _____ (Question) Describe : We did surveys with people one on one Sample Size: Total # of surveys Describe : We put out listings on Craigslist to get people to answer survey Sample Size: Total # of ads or ads responded to Measure M# _____ (Results) Describe : Of the response - we had 10 reliable responses Assess : Results of Build Numerically i.e. 6/10 Learn L# _____ (Iterate / Pivot) Describe : Based on what we learned we need to tighten up hypothesis and amend our problem statement Cycles marked with #1 / #2 / #3 / #4 etc. For best practices on surveys see www.cindyalvarez.com
    7. 7. Then do thisKeep your iterations - meaning make copies each you time you refine your hypothesisPROBLEM STATEMENT: We think that _______ people have trouble doing ____?SOLUTION HYPOTHESIS: Describe In WordsBUSINESS MODEL DISCOVERY: Using the Business Model Canvas answer key questions aboutvalue, customers, markets and relationships for this product in a target market.
    8. 8. Using this
    9. 9. And Now like This MVP PLANPROBLEM STATEMENT: We know that _______ people have trouble doing ____? WE DID THE WORK AND HAVE VALIDATED THAT PEOPLE WANT TO BUY THIS: MVP: Describe and Demonstrate your Minimally Viable Product Test Sell: What method did you use to Test Sell? Landing page, Ads, Prospecting Results: We sold some stuff or got Letters of Intent PEOPLE WANT TO BUY THIS FROM THIS PLACE FOR THIS MUCH: Validate BMC: How many ways could you find to make money? What market has the lowest barrier to entry? Is there enough money in the selling price to be profitable? Is that a business you want to be in?
    10. 10. Applied Lean™ The Eight Y’s* of Applied Lean™ Customer Validation - ! Have you interviewed potential or target customers? ! Have you integrated feedback into your solution? ! Built a base of fans or would be customers? Business Model -! ! Differentiated yourself from competitors?! ! Defined customer acquisition or rollout strategy?! ! Clearly and realistically articulated your revenue model?! Execution -! !! ! Developed a functional prototype?! ! Executed well as a team? *(Y = Yes ;>)
    11. 11. Applied Lean™ Do you have Eight Y’s*? Customer Validation - ! Have you interviewed potential or target customers? ! Have you integrated feedback into your solution? ! Built a base of fans or would be customers? Business Model -! ! Differentiated yourself from competitors?! ! Defined customer acquisition or rollout strategy?! ! Clearly and realistically articulated your revenue model?! Execution -! !! ! Developed a functional prototype?! ! Executed well as a team? *(Y = Yes ;>)
    12. 12. Resources Thought Leaders and Best Practices in Lean Customer Validation - ! Cindy Alvarez: www.cindyalvarez.com ! Hiten Shah: www.hitenshah.com ! Brant Cooper: www.custdev.com Business Model -! ! Alexander Osterwalder: www.businessmodelgeneration.com! ! Salim Varini: Leancamp: www.leanca.mp! ! Rob Fitzpatrick: www.startuptoolkitblog.com! Execution -! ! Steve Blank: www.steveblank.com! ! Ask Maurya: www.runninglean.com! ! Eric Ries: www.lessonslearned.com
    13. 13. Kelley Boyd@msksboyd9172910004

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