Introduction to Lean Startup Enterprise Ireland
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Introduction to Lean Startup and the tools used in helping companies build scalable repeatable businesses
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Introduction to Lean Startup Enterprise Ireland
- 1. RAOMAL PERERA raomal@LeanDisruptor.com | @raomal @LeanDisruptor | www.facebook.com/LeanDisruptor INTRODUCTION TO LEAN STARTUP #LEANSTARTUP
- 2. Agenda 2 • Business Model Canvas • Value Proposition Canvas (inc. Jobs to be Done) • Mapping the Environment • Business Model Patterns • Owlet Case Study
- 4. What is a business model? A business model describes the rationale of how an organisation Creates, Delivers and Captures value 4
- 5. Why we need a shared language for business models? 5 https://strategyzer.com/academy/cours e/business-models-that-work-and- value-propositions-that-sell/1/1 Note: You may need to license the online learning tool on Strategyzer to view this clip from Osterwalder
- 6. Use of BMC in Established Companies IMPROVE ----------------------------------INVENT Know Problem/Know Solution -Unknown Problem/Unknown Solution ------EXECUTE -------------------------SEARCH------------ 6
- 8. Problem/ Solution Fit Product/ Market Fit Scale The 3 Steps 8 8
- 9. 9 Knowledge is having the right answer. Intelligence is asking the right questions The Art of Customer Interviewing
- 10. 10
- 11. 11 Finding the Problem is the Hard Part – Kevin Systrom & Mike Krieger (Instagram Co_Founders) Instagram Co-Founder Kevin Systrom believes building solutions for most problems is the easy part; the hard part is finding the right problem to solve. Here he opens up about how he and fellow Co-Founder Mike Krieger identified the problems they wanted to solve around sharing photos through mobile devices. He also reminds entrepreneurs to embrace simple solutions, as they can often delight users and customers.
- 12. 12 MVP (MINIMUM VIABLE PRODUCT)
- 13. MVP A Minimum Viable Product (MVP) is “that product which has just those features and no more that allows you to ship a product that early adopters see and, at least some of whom resonate with, pay you money for, and start to give you feedback on” 13
- 14. 14
- 15. Nespresso’s Business Model What is Nespresso’s Business Model? What made them so successful? 15
- 16. Getting started with the canvas 16
- 18. Group Exercise: 15 Mins Develop a BMC for HPSU Start Work in groups of 3 or 4 and use the A3 posters and Stattys notes on the table. 18
- 19. “Studies comparing successful and unsuccessful innovation have found that the primary discriminator was the degree to which the user needs were fully understood.” – David Garvin, Harvard Business School 19
- 20. #1 Target customer segment #2 Customer segment also overseas market new set of customers • Who are your most important customers? • What are their archetype? • What jobs do they want you to get done for them? Customer Segments 20
- 21. Customer Persona/Archetypes Profile • Position/Title • Age/Sex • Role • Discretionary budget • Motivations • Role models 21 •Who are you? •How do you buy? •What matters to you? •Who influences you?
- 22. Customer Archetypes Meet Paul, Sheetal and Barbara Paul-RegularExerciser • 20 – 45 • Aim to maintain and track active lifestyle • Looking for inspiration on diet & exercise regimes • Gets a buzz from exercising Sheetal-SpiritualHealth • • 30 – 55 • Already follows a healthy lifestyle • Interested in alternative medicines/ treatments • Believes eating well is as important as exercise Barbara-On-OffDieter • • 30 + • Yo-yo dieter, has tried many of the fad diets but never stuck to one • Needs tips and motivation to keep up a healthy lifestyle • Irregular or infrequent exerciser 22
- 23. Customer Types Saboteurs Intermediaries (OEM’s and resellers) 23
- 24. 24 24
- 26. 26 The Business Model Canvas (BMC) helps you create value for your business The Value Proposition Canvas helps you create value for your customer
- 27. Zooming into the Value Proposition 27
- 28. 28
- 29. 29 Observe
- 30. Clayton Christensen 30 Jobs to be Done “If you understand the job, how to improve the product becomes just obvious”
- 31. “People buy products and services to get jobs done. As people complete these jobs, they have certain measurable outcomes that they are attempting to achieve. It links a company's value creation activities to customer-defined metrics.” - Ulwick OUTCOME-DRIVEN INNOVATION 31
- 32. 32 Design
- 33. 3333
- 34. 3434
- 35. 3535
- 36. 3636
- 37. 3737
- 38. 3838
- 39. 3939
- 40. Bringing it all together 40 https://strategyzer.com/platform/traini ng/courses/business-models-that-work- and-value-propositions-that-sell/6/3/3 Note: You may need to license the online learning tool on Strategyzer to view this clip from Osterwalder
- 41. raomal@LeanDisruptor.com | @raomal @LeanDisruptor | www.facebook.com/LeanDisruptor RAOMAL PERERA THANK YOU!
- 42. 42 APPENDIX
- 43. Lean Startup Dublin Meetup launched Jan 2012 – now over 1,200 members Workshops run by Ash Maurya, John Mullins, Brant Cooper & Raomal Perera Talks on Lean Startup, Social Media, Agile, Fund Raising, How to Build a Startup, Lego Serious Play, Lean in Corporates, Crowd Funding, Cartier Women’s Initiative Award (CWIA) LeanCamp Lean Startup Dublin Meetup http://www.meetup.com/Lean-Startup-Dublin/ 43
- 44. Lean Startup for Enterprise Meetup inaugural meeting Feb 17, 2016 opened by Alex Osterwalder on Value Proposition Design. This is a group for enterprises wanting to learn about the latest concepts and frameworks in business to help them grow. Some of the topics we will discuss are: Lean Startup, Business Model Innovation, Design Thinking, Growth Hacking, Innovation Accounting, Lean Analytics, Purpose Driven Organisation and Social Media. NEW: Lean Startup for Enterprise Meetup http://www.meetup.com/Lean-Startup-for-Enterprise/ 44
- 47. Additional Resources Books 47 Books: Key Strategy Tools – 80+ tools for every manager to build a winning strategy The Business Model Navigator – The 55 Models that will revolutionize your business – Gassmann, Frankenberger & Csik What Customers Want – Using Outcome- Driven Innovation to Create Breakthrough Products and Services – Ulwick
- 48. Additional Resources 48 BMC Online Tools: Strategyzer https://canvanizer.com/ (free tool) Stattys Notes; http://www.stattys.com/ - A new generation of adhesive notes with a unique "Write and Slide" function.
- 49. Additional Resources 49 Card decks: BMI Pattern Cards Mapping the Business Model Design Space Card Deck
- 53. “Pattern in architecture is the idea of capturing architectural design ideas as archetypical and reusable descriptions” – Christopher Alexander, Architect Patterns 53
- 54. Prepare to cannibalize your Business Model 54 “if you don’t cannibalize yourself, someone else will. Don’t protect your products …. Protect the customer experience and your customer relationships” – Steve Jobs
- 55. What do you offer to the customer?What? Value Propositi on How is revenue created? How is the value proposition created?Who? Revenue Model Value Chain Why? How? Who is your target customer (segment)? St. Gallen Business Model Navigator Triangle Who-What-How-Why A business model defines who your customers are, what you are selling, how you produce your offering, and why your business is profitable
- 56. Identified 55 Business Model patterns in the 5+ years of intensive research into detailed analysis of all major successful business model innovators in the last 50 years -University of St. Gallen 56
- 57. Pattern 39: Razor and Blade Apple iPod/iTunes (2003) Nestlé BabyNes (2012) Nestlé Special.Tea (2010) Hewlett- Packard (1984) Nestlé Nespresso (1986) Gillette (1904) Standard Oil Company (1880) The basic product is either cheap or give away for free. The consumables that are needed for it on the other hand are expensive or high margin. 57
- 58. Pattern 48: Subscription Next Issue Media (2011) Dollar Shave Club (2012) Jamba 2004 Spotify 2006 Netflix (1999) Salesforce (1999) The customer pays a regular fee, typically on a monthly or an annual basis, in order to gain access to a product or service. 58 Blacksocks (1999)
- 59. Lock- in Razor and blade Direct selling Gillette (1904) Nestlé Nespresso (1986) Nestlé Special Tea. (2011) Nestlé BabyNes (2012) Source: Gassmann, Frankenberger, Csik (2012), Aus alt mach neu, Harvard Business Manager, 2012 LeverageCombineTransfer 3 Strategies to generate new Business Model ideas: Transfer, Combine and Leverage 59
- 60. 60 3 Challenges in Business Model Innovation 1. Overcoming the dominant Industry logic 2. Thinking in Business Models and not in Technology and/or Products 3. Lack of Systematic Tools
- 61. 61 WORKSHOPS
- 62. Fund Raising for Entrepreneurs 62
- 63. Building Emotional Capital for Leadership 63
- 65. How to Build a Startup 65
- 66. raomal@LeanDisruptor.com | @raomal @LeanDisruptor | www.facebook.com/LeanDisruptor RAOMAL PERERA THANK YOU!