Lean Startups

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Lean Startups

  1. 1. LEAN Startups: a primer<br />Learn<br />Entrepreneurial<br />Agility<br />Now!<br />
  2. 2. the “Lean” movement<br />… just a few key names:<br />Eric Ries<br />Steve Blank <br />Dave McClure and other cool cats<br />…BUT… Is this really that new?<br />Isn’t this what smart entrepreneurs ALREADY do? How smart entrepreneurs ALREADY think?<br />
  3. 3. A few quick thoughts…<br />“Lean” doesn’t mean cheap.. It means FAST<br />“Lean” could just as easily be called “Learn”!<br />WHEN to be Lean?<br />Extreme uncertainty<br />Significant ambiguity (Type III errors)<br />Startups – scalable startups<br />Social / Sustainable / BOTP<br />New Product Development / Tech Transfer<br />
  4. 4. What is a “Startup”..really?<br />A startup is simply the vehicle for figuring out a sustainable, repeatable, scalablebusiness model<br />This is no time for a business plan… takes very different planning (and thinking)<br />Finding your Scalable Business Model:<br />Test each critical assumption in your model<br />Measure (qual & quant) ruthlessly<br />“Pivot” quickly<br />Iterate<br />
  5. 5. Minimize TOTAL time through the loop<br />IDEAS<br />LEARN<br />BUILD<br />DATA<br />CODE<br />MEASURE<br />Source: Eric Ries, The Lean Startup<br />
  6. 6. “Failing fast” is also a misnomer – “fail FORWARD” which means…<br />Better your assumptions fail… than your biz<br />Forces attention on Value (benefits>>features)<br />Build  Test/Measure  Learn (L,R,R)<br />
  7. 7. What’s a Business Model?<br />Three key questions to answer – identify all key assumptions for each:<br />1) Value Proposition<br />2) Value Delivery<br />3) Value Capture<br />
  8. 8. The Process<br />from Steve Blank: The search (SBM) we can call “Customer Development”<br />Implementing SBM = “Agile Development”<br />
  9. 9. Build  Measure  Learn<br />BUILD: Identify & Test<br />Minimum Feature Set<br />Minimum Viable Product (MVP)<br />MEASURE: <br />Find out what customers love… and especially hate(Kathy Sierra vs Dave McClure)<br />LISTEN! (to your metrics & your customers)<br />LEARN:<br />Pivot quickly & decisively<br />
  10. 10. Implications for us?<br />“Lean” epitomizes entrepreneurial mindset <br />[VERY different, BT: Assume & embrace uncertainty & ambiguity!]<br />Applies to any high-uncertainty/ambiguity situation<br />Social ventures, tech transfer, NPD<br />Mindset focuses on:<br />Benefits, not features… (not ‘inventors syndrome’)<br />Value proposition & value delivery co-evolve<br />Customer, et al. as true partner<br />Iterative, Co-Evolving Process<br />Not exactly a stage-gate (eg, early Goldsmith)<br />WAIT! (expert mentoring)<br />
  11. 11. More implications…<br />New insights into expert entrepreneurial mindset <br />neededby mentors, ecosytem<br />Experiential = Essential (>>hands-on)<br />Incubating   Immersion<br />Startup Weekend<br />Nebula Shift model<br />Counseling   Mentoring<br />TechStars, Accelerators<br />Celebrate & Educate! (TechBoise, ESTech, ITC)<br />
  12. 12. for more info…<br />The Gurus:<br />Eric Ries<br /> (@ericries, www.startuplessonslearned.com)<br />Steve Blank (@sgblank, www.steveblank.com)<br />www.sllconf.com<br />Local Lean Fanatics, er, Aficionados, well…Fanatics:<br />Kevin Donaldson (@kevnd, kdonaldson@balihoo.com )<br />Norris Krueger (@entrep_thinking, norris.krueger@gmail.com)<br />Jason Christensen (@jasonc411)<br />Eric Shaver (@ericshaver)<br />

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