Building products that solve human needs 101
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An introduction to validation methods for early stage startup ideas. Delivered to students from the National University of Singapore Overseas College program.
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Building products that solve human needs 101
- 1. Building products that solve human needs Ryan Lou Founder, Krawst Tweet: @RyanLou
- 3. US$40k Grant, No Equity. • Global network of people • Scalable ideas • Founders need to be skilled
- 5. The creation of a US$1B company
- 6. “Bringing the startup community together offline, getting user feedback and generating buzz are exactly what NY’s tech community needs to do so it can continue to grow and thrive. ” ~ Harrison Weber TNW editor, New York office
- 7. “There is no better feedback in the world than hearing right from your target” Jared O’Toole Under30ceo NYC editor
- 9. Smart founders are successful?
- 10. Smart founders are successful?
- 11. Smart founders are successful? Hardworking founders are successful?
- 12. Smart founders are successful? Hardworking founders are successful?
- 13. Smart founders are successful? Hardworking founders are successful? Smart and hardworking founders are successful?
- 14. Smart founders are successful? Hardworking founders are successful? Smart and hardworking founders are successful?
- 15. Being a founder is very reactive.
- 16. The basis of lean startups Learning which activities in a startup creates value
- 17. Just 3 things founders must do: • Build products • Talk to people • Work out See: http://www.foundersatwork.com/blog.html And we do that in an iterative “Build - Measure - Learn” loop. Refer to: http://lean.st/principles/build-measure-learn for notes on the principle and http://www.designstaff.org/articles/shortening-the-build- measure-learn-cycle-2012-02-06.html for how to create an action plan through the BML
- 18. Build - Measure - Learn Refer to: http://lean.st/principles/build-measure-learn for notes on the principle and http://www.designstaff.org/articles/shortening-the-build-measure-learn-cycle- 2012-02-06.html for how to create an action plan through the BML
- 19. Everything we thought we knew • Of course people have problems (problem hypothesis) • Sure, everyone will use it (customer hypothesis) • I’m smart, my product is exactly what the world needs (product validation)
- 20. Combining photo sharing with Geo-caching http://leanstartupmachine.com/2012/06/taking-on-a-market-leader-through-validated- http://leanstartupmachine.com/2012/06/taking-on-a-market-leader-through- learning/ validated-learning/
- 21. Problem: Forming new social circles in a new place is difficult. Customer: Students/Expats moving for at least 6 months. Product: City app to discover new people and things. Get the whole story at http://Go.Krawst.com
- 22. Experiment #1: Register early users Learn: which cities I can register enough early users. Measure: Identify which cities have >150 users Build: Landing page targeted at 6 cities Get the whole story at http://Go.Krawst.com
- 23. Get the whole story at http://Go.Krawst.com
- 24. Experiment #2: Understand institutions Learn: How to tap into existing institutions Measure: 3/10 favorable responses Build: Email offices that handle international student affairs Get the whole story at http://Go.Krawst.com
- 25. 3 ways to test • Problem exploration - talking to people. • Concierge service – Providing the service manually. • Product pitch – Sell it like it’s finished.
- 26. Start with a measurable customer hypothesis Then focus on the more critical ones first
- 27. Ideas aren’t valuable Execution is what matters
- 28. No idea where to start? You need these tools.
- 29. Lean Startup Machine Validation Canvas http://leanstartupmachine.com/validationboard/
- 30. Created by @RyanLou for Startup Chile (email Ryan@Krawst.com)
- 32. Best way to learn is to do it • BUT, these might help: – Udemy lean startup at sxsw (http://www.udemy.com/lean-startup-sxsw- 2012-videos-and-presentations/) – Eric ries’ blog (www.startuplessonslearned.com ) – Steve blank’s blog (www.steveblank.com ) – Ash Maurya (www.ashmaurya.com) – How to create a lean canvas (http://startit.rs/wp- content/uploads/LeanCanvas.pdf) – Lean canvas online (http://leancanvas.com/) – What is Lean UX (http://uxdesign.smashingmagazine.com/2011/03/07/lean-ux-getting- out-of-the-deliverables-business/) – We got it wrong, learn-measure-build (http://grasshopperherder.com/build-measure-learn-vs-learn-measure- build/)
- 33. Building products that solve human needs Ryan Lou Founder, Krawst Tweet: @RyanLou