We are happy to present our Lessons Learned from the class 4 of the Lean Entrepreneurship course at Católica-Lisbon.

1. Lessons learned from class 4
Lean Entrepreneurship 2017/2018
Authors: Monty Lapuente Gonzalez, Karolina Biernacka, Maggie Lubas, Felix Olenhusen, Mahfooz Malik
Lisbon, 27.11.2017

2. Deep diving into customer relationships, channels and revenue
streams enabled us to further sharpening our business model
Lessons Learned class 4
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The importance of Viral Marketing
Generating positive WOM is the most important marketing resource for a startup.
The absence of costs and the high influence on consumer’s opinion may enable
high growth when using viral marketing via social media. Customer retention is the
next important step since winning new customers is mostly more expensive then
keeping the existing ones.
Generating revenue
Generating revenue should not be limited to product or service sales. Considering
further possibilities such as advertisement or usage fees can be crucial in sustaining
profits. Another possibility to win customers comes with offering Freemiums –
however, convincing consumers to start paying depends on a strong value
proposition.
What to consider when building the first MVP
The first MVP is supposed to test your most important key assumptions. The
product should be as minimal as possible, but still allow to test the existence of
the customer’s problem. The important step is to allow an interaction between
the customer and our product at an early stage to avoid working towards a
wrong direction and to waste time and resources.
Operationalize team work
Changing from an idea creation mode, classified by intense and long discussions, it
is crucial to become operational as a team. We start splitting responsibilities to
enable a more efficient team work. All results will then be discussed during several
team sessions during the week in order to provide high-quality results.