SlideShare a Scribd company logo
When and How to Pivot
 Presented at Startup Lessons Learned
             23 May 2011


             David Binetti
              @dbinetti
Preface

• Share!
• No Original Thoughts...
• We’re Hiring! slideshare.com/votizen

                                         @dbinetti
A Bit About Me

• Business Model Designer at Votizen
• Mentor at Hacker Dojo
• Six Startups both Agile and Fixed

                                       @dbinetti
A Bit About You

• Startups?
• Something else?
• Unsure?

                        @dbinetti
High Finance




               @dbinetti
High Finance


33%         33%




      33%




                           @dbinetti
High Finance


      10%
                  30%

30%



            30%




                                 @dbinetti
High Finance


       13%         20%

20%
                     20%
  7%
             20%




                                    @dbinetti
High Finance


              12%
  20%
                    12%


20%                 12%
                5%
        19%




                                   @dbinetti
High Finance

                          Sells for: $50M
              12%
  20%
                    12%   Your stake: ~$6M

20%                 12%
                          Chance of Success: 10%
                5%
        19%
                          Expected Value: $600K

                                             @dbinetti
High Finance
      Startup    Google
Y1      0         175
Y2      40        175
Y3     120        200
Y4     120        200
Y5   120 + 600    250



                          @dbinetti
High Finance
      Startup    Google
Y1      0         175
Y2      40        175
Y3     120        200
Y4     120        200
Y5   120 + 600    250



                          @dbinetti
High Finance
            Startup    Google
  Y1          0         175
  Y2          40        175
  Y3         120        200
  Y4         120        200
  Y5       120 + 600    250

Expected     1.0 M     1.0 M

                                @dbinetti
High Finance
            Startup      Google
  Y1           0          175
  Y2           40         175
  Y3          120         200
  Y4          120         200
  Y5       120 + 600      250

Expected     1.0 M       1.0 M
Variance   3.6 x 10^12     0
                                  @dbinetti
High Finance


• You must be high if you think this makes
  financial sense.
• But money isn’t everything.
• What makes the entrepreneur different?
                                         @dbinetti
@dbinetti
@dbinetti
@dbinetti
@dbinetti
Why Lean?

• Mitigates your reality distortion field.
• Helps avoid (expensive) false positives.
• Converts market risk to technical risk

                                             @dbinetti
Lean Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                                      @dbinetti
Lean Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                                      @dbinetti
Lean Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                                   @dbinetti
Lean Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                                     @dbinetti
On Pivots




            @dbinetti
On Pivots




            @dbinetti
On Pivots

• Pivots are restatements of your business
  model; not synonymous with change.
• Pivots are a consequence of learning about
  your business, not just your product.
• Pivots are vision-driven, not testing-driven.
                                           @dbinetti
Our Vision

• Social media is disrupting Politics.
• Voters can now join with each other and
  connect to their officials directly.
• Facilitating meaningful connections will
  result in a new form of civic participation
  that will profoundly change our world.

                                             @dbinetti
The Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                                      @dbinetti
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Facebook for politics

 Problem      People want a stronger voice

 Channel      Social networks

 Demand       Viral (self-perpetuating demand)

  Market      Resegmented (donations engine)

Competitive   Hyper-fragmented

                                                   @dbinetti
1.0         1.1          2.0         3.0   4.0

 Metric                         Description

Acquisition   Creates account

Activation    Certified authenticity

 Referrals    Forwards to friends

Retention     Uses system thrice or greater

 Revenue      Supports causes


                                                @dbinetti
The Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                                   @dbinetti
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v.1   v.1.1    v.2    v.3   v.4
 Acquisition   5%
  Activation   17%
  Referrals     -
 Retention      -
  Revenue       -
                                                 @dbinetti
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v.1   v.1.1    v.2    v.3   v.4
 Acquisition   5%
  Activation   17%
  Referrals     -
 Retention      -
  Revenue       -
                                                 @dbinetti
1.0        1.1      2.0         3.0    4.0
• Did: The “MVP”, six weeks at $1206
• Learned: It’s a start.
  Metric       v.1   v.1.1    v.2    v.3   v.4
 Acquisition   5%
  Activation   17%
  Referrals     -
 Retention      -
  Revenue       -
                                                 @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: A/B testing to optimize
• Learned: Significant jump in conversion.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: Same process as before
• Learned: Missing something important.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
1.0        1.1         2.0         3.0    4.0
• Did: Same process as before
• Learned: Missing something important.
  Metric       v.1   v.1.1       v.2    v.3   v.4
 Acquisition   5%    17%
  Activation   17%   90%
  Referrals     -     4%
 Retention      -     5%
  Revenue       -      -
                                                    @dbinetti
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                                     @dbinetti
When to Pivot

• Surveys, A/B testing, landing pages, etc. are
  all good ways to find a local maximum for a
  given set of assumptions.
• If you’ve hit that local max and your model
  isn’t a sustainable business, it’s time to
  restate your assumptions (ie, to pivot.)

                                               @dbinetti
How to Pivot

• Put down the dry erase and step away from
  the whiteboard.
• You earned what you learned; don’t flail.
• Vision + Learning = Inspiration
                                         @dbinetti
In My Case
• Looked past the product to the nature of
  the problem.
  • “I’ve always wanted to get involved. This
    makes it so much easier.”
• Put myself in the “let’s make it easier”
  mindset and got out of the building.
• Lead to the inspiration for @2gov.
                                             @dbinetti
The Framework
 Formulate       Iterate, Release &
   Model              Measure




             Pivot


                                      @dbinetti
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple messaging tool

 Problem      Getting involved is hard

 Channel      Social networks

 Demand       Viral (self-perpetuating demand)

  Market      Resegmented (donations engine)

Competitive   Hyper-fragmented

                                                   @dbinetti
The Framework
 Formulate    Iterate, Release &
   Model           Measure




             Pivot


                                   @dbinetti
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max on revenue


     Metric       v.1    v.1.1       v.2    v.3   v.4
    Acquisition   5%      17%      42%
    Activation    17%     90%      83%
     Referrals     -      4%      54%
     Retention     -      5%      21%
     Revenue       -       -         1%
                                                        @dbinetti
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max on revenue


     Metric       v.1    v.1.1       v.2    v.3   v.4
    Acquisition   5%      17%      42%
    Activation    17%     90%      83%
     Referrals     -      4%      54%
     Retention     -      5%      21%
     Revenue       -       -         1%
                                                        @dbinetti
1.0        1.1          2.0         3.0    4.0

•    Did: Asymmetric message delivery

•    Learned: Found a new local max on revenue


     Metric       v.1    v.1.1       v.2    v.3   v.4
    Acquisition   5%      17%      42%
    Activation    17%     90%      83%
     Referrals     -      4%      54%
     Retention     -      5%      21%
     Revenue       -       -         1%
                                                        @dbinetti
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                                     @dbinetti
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple involvement tool

 Problem      People want to be good citizens

 Channel      Social networks

 Demand       Viral (self-perpetuating demand)

  Market      Resegmented (campaign management)

Competitive   Hyper-fragmented

                                                   @dbinetti
Focus on Revenue

• Website, analytics, dashboards.
• Custom work specific to your issue.
• People loved it! Let’s Build!

                                       @dbinetti
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no sale


     Metric       v.1     v.1.1        v.2    v.3   v.4
    Acquisition   5%       17%      42%       43%
    Activation    17%      90%      83%       85%
     Referrals     -        4%      54%       52%
    Retention      -        5%      21%       24%
     Revenue       -         -         1%     0%
                                                          @dbinetti
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no sale


     Metric       v.1     v.1.1        v.2    v.3   v.4
    Acquisition   5%       17%      42%       43%
    Activation    17%      90%      83%       85%
     Referrals     -        4%      54%       52%
    Retention      -        5%      21%       24%
     Revenue       -         -         1%     0%
                                                          @dbinetti
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no sale


     Metric       v.1     v.1.1        v.2    v.3   v.4
    Acquisition   5%       17%      42%       43%
    Activation    17%      90%      83%       85%
     Referrals     -        4%      54%       52%




                                                                      !
    Retention      -        5%      21%       24%
     Revenue       -         -         1%     0%
                                                          @dbinetti
1.0        1.1            2.0         3.0    4.0

•    Did: New tools and analytics

•    Learned: No signature means no sale


     Metric       v.1     v.1.1        v.2    v.3   v.4
    Acquisition   5%       17%      42%       43%
    Activation    17%      90%      83%       85%
     Referrals     -        4%      54%       52%




                                                                      !
    Retention      -        5%      21%       24%
     Revenue       -         -         1%     0%
                                                          @dbinetti
Don’t Underestimate


• Easy to fool yourself
 • “Show Yourself the Money”
• This is why PR and vanity metrics are so
  dangerous.


                                         @dbinetti
The Framework
 Formulate      Iterate, Release &
   Model             Measure




             Pivot


                                     @dbinetti
Learning

• Poor Sales Cycle (contract, cost, channel)
 • “I’m just not sure about this Twitter
    thing.”
• Make the engagement easy to try and show
  ROI out of the gate.


                                          @dbinetti
1.0         1.1          2.0          3.0     4.0

  Model                          Hypothesis
 Product      Simple involvement tool

 Problem      People want to be good citizens

 Channel      Social networks

 Demand       Viral (self-perpetuating demand)

  Market      Resegmented (look like AdWords)

Competitive   Hyper-fragmented

                                                   @dbinetti
Ad Words for Activism

• Special Delivery on a per-message basis
 • Only pay for value
• Initial sale: $200 first day.

                                        @dbinetti
1.0         1.1           2.0         3.0       4.0

•    Total investment at this point: ~$120K and 18 months.

•    Model has promise; raise some funds


     Metric       v.1     v.1.1       v.2     v.3       v.4
    Acquisition   5%       17%        42%     43%      51%
    Activation    17%      90%        83%     85%      92%
     Referrals     -       4%         54%     52%      64%
    Retention      -       5%         21%     24%      28%
     Revenue       -        -         1%      0%       11%
                                                              @dbinetti
1.0         1.1           2.0         3.0       4.0

•    Total investment at this point: ~$120K and 18 months.

•    Model has promise; raise some funds


     Metric       v.1     v.1.1       v.2     v.3       v.4
    Acquisition   5%       17%        42%     43%      51%
    Activation    17%      90%        83%     85%      92%
     Referrals     -       4%         54%     52%      64%
    Retention      -       5%         21%     24%      28%
     Revenue       -        -         1%      0%       11%
                                                              @dbinetti
Important Notes
• Iteration loops got tighter.
• Each validation justified a higher level of
  investment/engagement.
  • 1K - 10K - 100K - 1000K
• Seek funding when you think you have
  more technical risk than market risk.

                                           @dbinetti
Summary

• Set Model so you know what your
  measuring and when you’re done.
• Use Metrics to find local maxima, not to
  find a business.
• Pivots are vision-driven.
                                      @dbinetti
Feedback

• bit.ly/sllconfdb
• slideshare.net/votizen
• @votizen

                           @dbinetti
Final Thought


                @dbinetti
@dbinetti

More Related Content

What's hot

Lecture 1: Business Model & Customer Development
Lecture 1: Business Model & Customer DevelopmentLecture 1: Business Model & Customer Development
Lecture 1: Business Model & Customer Development
Stanford University
 
BMNT's Innovation Pipeline Self Assessment
BMNT's Innovation Pipeline Self AssessmentBMNT's Innovation Pipeline Self Assessment
BMNT's Innovation Pipeline Self Assessment
BMNT Partners
 
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
BlueOceanStrategy
 
How to develop Insights
How to develop InsightsHow to develop Insights
How to develop Insights
TC Miles
 
Customer Development Past Present Future Steve Blank 111909
Customer Development Past Present Future Steve Blank 111909Customer Development Past Present Future Steve Blank 111909
Customer Development Past Present Future Steve Blank 111909
Stanford University
 
Why accountants don’t run startups sllc
Why accountants don’t run startups sllcWhy accountants don’t run startups sllc
Why accountants don’t run startups sllc
Stanford University
 
Consumer Insights: Revealing the truths & myths
Consumer Insights: Revealing the truths & mythsConsumer Insights: Revealing the truths & myths
Consumer Insights: Revealing the truths & myths
Consumer Truth - Insights & Planning
 
Building Your Financial Model Key Startup Metrics
Building Your Financial Model Key Startup Metrics Building Your Financial Model Key Startup Metrics
Building Your Financial Model Key Startup Metrics
David Ehrenberg
 
The Top 10 Most Remarkable Marketing Campaigns EVER
The Top 10 Most Remarkable Marketing Campaigns EVERThe Top 10 Most Remarkable Marketing Campaigns EVER
The Top 10 Most Remarkable Marketing Campaigns EVER
HubSpot
 
National governors association july 2012
National governors association july 2012National governors association july 2012
National governors association july 2012
Stanford University
 
Value proposition Design
Value proposition DesignValue proposition Design
Value proposition Design
Wisnu Dewobroto
 
Business Strategy + Brand Strategy
Business Strategy + Brand StrategyBusiness Strategy + Brand Strategy
Business Strategy + Brand Strategy
VCU Brandcenter
 
Long Tail Business Models
Long Tail Business ModelsLong Tail Business Models
Long Tail Business Models
Alexander Osterwalder
 
Brand Masterclass Week Five - Developing Brand Strategy (l)
Brand Masterclass Week Five - Developing Brand Strategy (l)Brand Masterclass Week Five - Developing Brand Strategy (l)
Brand Masterclass Week Five - Developing Brand Strategy (l)
Idris Mootee
 
Slideshare competitor benchmarking
Slideshare competitor benchmarkingSlideshare competitor benchmarking
Slideshare competitor benchmarking
Jill Stephens
 
30 best Creative, Design & Marketing 
Quotes
30 best Creative, Design & Marketing 
Quotes30 best Creative, Design & Marketing 
Quotes
30 best Creative, Design & Marketing 
Quotes
Mike Hendrixen
 
Digital Strategy Toolbox
Digital Strategy ToolboxDigital Strategy Toolbox
Digital Strategy Toolbox
Julian Cole
 
Pitching Ideas: How to sell your ideas to others
Pitching Ideas: How to sell your ideas to othersPitching Ideas: How to sell your ideas to others
Pitching Ideas: How to sell your ideas to others
Jeroen van Geel
 
7 lessons on Presentation Design from TED TALKS | Curly Films
7 lessons on Presentation Design from TED TALKS | Curly Films7 lessons on Presentation Design from TED TALKS | Curly Films
7 lessons on Presentation Design from TED TALKS | Curly Films
Storyline Presentations
 
Minimum Viable Product
Minimum Viable ProductMinimum Viable Product
Minimum Viable Product
Eric Ries
 

What's hot (20)

Lecture 1: Business Model & Customer Development
Lecture 1: Business Model & Customer DevelopmentLecture 1: Business Model & Customer Development
Lecture 1: Business Model & Customer Development
 
BMNT's Innovation Pipeline Self Assessment
BMNT's Innovation Pipeline Self AssessmentBMNT's Innovation Pipeline Self Assessment
BMNT's Innovation Pipeline Self Assessment
 
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
Red Ocean Traps. Mental Models that Undermine Market-Creating Strategies
 
How to develop Insights
How to develop InsightsHow to develop Insights
How to develop Insights
 
Customer Development Past Present Future Steve Blank 111909
Customer Development Past Present Future Steve Blank 111909Customer Development Past Present Future Steve Blank 111909
Customer Development Past Present Future Steve Blank 111909
 
Why accountants don’t run startups sllc
Why accountants don’t run startups sllcWhy accountants don’t run startups sllc
Why accountants don’t run startups sllc
 
Consumer Insights: Revealing the truths & myths
Consumer Insights: Revealing the truths & mythsConsumer Insights: Revealing the truths & myths
Consumer Insights: Revealing the truths & myths
 
Building Your Financial Model Key Startup Metrics
Building Your Financial Model Key Startup Metrics Building Your Financial Model Key Startup Metrics
Building Your Financial Model Key Startup Metrics
 
The Top 10 Most Remarkable Marketing Campaigns EVER
The Top 10 Most Remarkable Marketing Campaigns EVERThe Top 10 Most Remarkable Marketing Campaigns EVER
The Top 10 Most Remarkable Marketing Campaigns EVER
 
National governors association july 2012
National governors association july 2012National governors association july 2012
National governors association july 2012
 
Value proposition Design
Value proposition DesignValue proposition Design
Value proposition Design
 
Business Strategy + Brand Strategy
Business Strategy + Brand StrategyBusiness Strategy + Brand Strategy
Business Strategy + Brand Strategy
 
Long Tail Business Models
Long Tail Business ModelsLong Tail Business Models
Long Tail Business Models
 
Brand Masterclass Week Five - Developing Brand Strategy (l)
Brand Masterclass Week Five - Developing Brand Strategy (l)Brand Masterclass Week Five - Developing Brand Strategy (l)
Brand Masterclass Week Five - Developing Brand Strategy (l)
 
Slideshare competitor benchmarking
Slideshare competitor benchmarkingSlideshare competitor benchmarking
Slideshare competitor benchmarking
 
30 best Creative, Design & Marketing 
Quotes
30 best Creative, Design & Marketing 
Quotes30 best Creative, Design & Marketing 
Quotes
30 best Creative, Design & Marketing 
Quotes
 
Digital Strategy Toolbox
Digital Strategy ToolboxDigital Strategy Toolbox
Digital Strategy Toolbox
 
Pitching Ideas: How to sell your ideas to others
Pitching Ideas: How to sell your ideas to othersPitching Ideas: How to sell your ideas to others
Pitching Ideas: How to sell your ideas to others
 
7 lessons on Presentation Design from TED TALKS | Curly Films
7 lessons on Presentation Design from TED TALKS | Curly Films7 lessons on Presentation Design from TED TALKS | Curly Films
7 lessons on Presentation Design from TED TALKS | Curly Films
 
Minimum Viable Product
Minimum Viable ProductMinimum Viable Product
Minimum Viable Product
 

Viewers also liked

How and When to Pivot - Lean Startup Principles Applied
How and When to Pivot  - Lean Startup Principles AppliedHow and When to Pivot  - Lean Startup Principles Applied
How and When to Pivot - Lean Startup Principles Applied
David Binetti
 
Ux for lean startups london
Ux for lean startups londonUx for lean startups london
Ux for lean startups london
Janice Fraser
 
Continuous Deployment at Lean LA
Continuous Deployment at Lean LAContinuous Deployment at Lean LA
Continuous Deployment at Lean LA
Brett Durrett
 
Ops Meta-Metrics: The Currency You Pay For Change
Ops Meta-Metrics: The Currency You Pay For ChangeOps Meta-Metrics: The Currency You Pay For Change
Ops Meta-Metrics: The Currency You Pay For Change
John Allspaw
 
What is Beyond Budgeting?
What is Beyond Budgeting?What is Beyond Budgeting?
Applying the Lean Startup Model to the Enterprise
Applying the Lean Startup Model to the EnterpriseApplying the Lean Startup Model to the Enterprise
Applying the Lean Startup Model to the Enterprise
Jez Humble
 
PSFK Future of Retail Report 2012
PSFK Future of Retail Report 2012PSFK Future of Retail Report 2012
PSFK Future of Retail Report 2012
PSFK
 
Design for Continuous Experimentation
Design for Continuous ExperimentationDesign for Continuous Experimentation
Design for Continuous Experimentation
Dan McKinley
 
Culture
CultureCulture
Culture
Reed Hastings
 
uTest STPcon spring 2012 presentation
uTest  STPcon spring 2012 presentationuTest  STPcon spring 2012 presentation
uTest STPcon spring 2012 presentation
uTest
 
David Binetti lean startup sxsw
David Binetti lean startup sxswDavid Binetti lean startup sxsw
David Binetti lean startup sxsw
Eric Ries
 
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
Rod King, Ph.D.
 
How to Build Products That Matter With Innovation Accounting
How to Build Products That Matter With Innovation AccountingHow to Build Products That Matter With Innovation Accounting
How to Build Products That Matter With Innovation Accounting
David Bland
 
Startup Case Study
Startup Case StudyStartup Case Study
Startup Case Study
David Binetti
 
2010 05 03 Lean Startup Intensive At Web 2 0 Expo Welcome By Eric Ries
2010 05 03 Lean Startup Intensive At Web 2 0 Expo   Welcome By Eric Ries2010 05 03 Lean Startup Intensive At Web 2 0 Expo   Welcome By Eric Ries
2010 05 03 Lean Startup Intensive At Web 2 0 Expo Welcome By Eric Ries
Eric Ries
 
Lean Startup: Pivot vs Persevere
Lean Startup: Pivot vs PersevereLean Startup: Pivot vs Persevere
Lean Startup: Pivot vs Persevere
Carlos Morales
 
Keynote Kung-Fu: Streamlining Your Design Workflow With Keynote
Keynote Kung-Fu: Streamlining Your Design Workflow With KeynoteKeynote Kung-Fu: Streamlining Your Design Workflow With Keynote
Keynote Kung-Fu: Streamlining Your Design Workflow With Keynote
Travis Isaacs
 
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
Lean Startup Co.
 
Keynote Kung-Fu: Black Belt
Keynote Kung-Fu: Black BeltKeynote Kung-Fu: Black Belt
Keynote Kung-Fu: Black Belt
Travis Isaacs
 
Lean startup - what is pivot
Lean startup - what is pivotLean startup - what is pivot
Lean startup - what is pivot
Yuki Sekiguchi
 

Viewers also liked (20)

How and When to Pivot - Lean Startup Principles Applied
How and When to Pivot  - Lean Startup Principles AppliedHow and When to Pivot  - Lean Startup Principles Applied
How and When to Pivot - Lean Startup Principles Applied
 
Ux for lean startups london
Ux for lean startups londonUx for lean startups london
Ux for lean startups london
 
Continuous Deployment at Lean LA
Continuous Deployment at Lean LAContinuous Deployment at Lean LA
Continuous Deployment at Lean LA
 
Ops Meta-Metrics: The Currency You Pay For Change
Ops Meta-Metrics: The Currency You Pay For ChangeOps Meta-Metrics: The Currency You Pay For Change
Ops Meta-Metrics: The Currency You Pay For Change
 
What is Beyond Budgeting?
What is Beyond Budgeting?What is Beyond Budgeting?
What is Beyond Budgeting?
 
Applying the Lean Startup Model to the Enterprise
Applying the Lean Startup Model to the EnterpriseApplying the Lean Startup Model to the Enterprise
Applying the Lean Startup Model to the Enterprise
 
PSFK Future of Retail Report 2012
PSFK Future of Retail Report 2012PSFK Future of Retail Report 2012
PSFK Future of Retail Report 2012
 
Design for Continuous Experimentation
Design for Continuous ExperimentationDesign for Continuous Experimentation
Design for Continuous Experimentation
 
Culture
CultureCulture
Culture
 
uTest STPcon spring 2012 presentation
uTest  STPcon spring 2012 presentationuTest  STPcon spring 2012 presentation
uTest STPcon spring 2012 presentation
 
David Binetti lean startup sxsw
David Binetti lean startup sxswDavid Binetti lean startup sxsw
David Binetti lean startup sxsw
 
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
BUSINESS MODEL PIVOTS: How Great Organizations Create and Sustain Competitive...
 
How to Build Products That Matter With Innovation Accounting
How to Build Products That Matter With Innovation AccountingHow to Build Products That Matter With Innovation Accounting
How to Build Products That Matter With Innovation Accounting
 
Startup Case Study
Startup Case StudyStartup Case Study
Startup Case Study
 
2010 05 03 Lean Startup Intensive At Web 2 0 Expo Welcome By Eric Ries
2010 05 03 Lean Startup Intensive At Web 2 0 Expo   Welcome By Eric Ries2010 05 03 Lean Startup Intensive At Web 2 0 Expo   Welcome By Eric Ries
2010 05 03 Lean Startup Intensive At Web 2 0 Expo Welcome By Eric Ries
 
Lean Startup: Pivot vs Persevere
Lean Startup: Pivot vs PersevereLean Startup: Pivot vs Persevere
Lean Startup: Pivot vs Persevere
 
Keynote Kung-Fu: Streamlining Your Design Workflow With Keynote
Keynote Kung-Fu: Streamlining Your Design Workflow With KeynoteKeynote Kung-Fu: Streamlining Your Design Workflow With Keynote
Keynote Kung-Fu: Streamlining Your Design Workflow With Keynote
 
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
Lean Startup for Finance: Using Innovation Accounting for Valuation and Risk ...
 
Keynote Kung-Fu: Black Belt
Keynote Kung-Fu: Black BeltKeynote Kung-Fu: Black Belt
Keynote Kung-Fu: Black Belt
 
Lean startup - what is pivot
Lean startup - what is pivotLean startup - what is pivot
Lean startup - what is pivot
 

Similar to David Binetti Lean Startup Votizen Pivot at SLLCONF 2011

Pivot
PivotPivot
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
Salesforce Partners
 
Connect and Engage Better with Provocation-based Selling
Connect and Engage Better with Provocation-based SellingConnect and Engage Better with Provocation-based Selling
Connect and Engage Better with Provocation-based Selling
Alinean, Inc.
 
Private company secondary markets october 2011
Private company secondary markets   october 2011Private company secondary markets   october 2011
Private company secondary markets october 2011
Jason Jones
 
Private company secondary markets october 2011
Private company secondary markets   october 2011Private company secondary markets   october 2011
Private company secondary markets october 2011
Jason Jones
 
2011 11-15 how to achieve predictable scalable revenue growth v5
2011 11-15 how to achieve predictable scalable revenue growth v52011 11-15 how to achieve predictable scalable revenue growth v5
2011 11-15 how to achieve predictable scalable revenue growth v5
HubSpot
 
LBS Presentation: An evening with the Forsyth Group
LBS Presentation: An evening with the Forsyth GroupLBS Presentation: An evening with the Forsyth Group
LBS Presentation: An evening with the Forsyth Group
BrettonPutter
 
Measuring your social output
Measuring your social outputMeasuring your social output
Measuring your social output
Jeff Esposito
 
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Alinean, Inc.
 
Seth Elliott (IT Spring 2013)
Seth Elliott (IT Spring 2013)Seth Elliott (IT Spring 2013)
Seth Elliott (IT Spring 2013)
Sergey Gruzer
 
Using social for customer service: Separating content and support - Claire Ka...
Using social for customer service: Separating content and support - Claire Ka...Using social for customer service: Separating content and support - Claire Ka...
Using social for customer service: Separating content and support - Claire Ka...
OpenKnowledge srl
 
Interactive White Paper Webcast: Increase content marketing effectiveness
Interactive White Paper Webcast: Increase content marketing effectivenessInteractive White Paper Webcast: Increase content marketing effectiveness
Interactive White Paper Webcast: Increase content marketing effectiveness
Alinean, Inc.
 
FgmBizPlanDraft
FgmBizPlanDraftFgmBizPlanDraft
FgmBizPlanDraft
Anne Kallus
 
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
Get Satisfaction
 
Increase Lead Cycle Velocity and Close More Deals
Increase Lead Cycle Velocity and Close More DealsIncrease Lead Cycle Velocity and Close More Deals
Increase Lead Cycle Velocity and Close More Deals
Act-On Software
 
7 Myths of Lean and How Analytics Can Help
7 Myths of Lean and How Analytics Can Help7 Myths of Lean and How Analytics Can Help
7 Myths of Lean and How Analytics Can Help
Lean Analytics
 
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
Virtual ULI
 
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
FirstGiving
 
General Assembly Online Retail
General Assembly Online RetailGeneral Assembly Online Retail
General Assembly Online Retail
Justus Wilde
 
2.0 Adoption in the Enterprise - The After
2.0 Adoption in the Enterprise - The After2.0 Adoption in the Enterprise - The After
2.0 Adoption in the Enterprise - The After
The 2.0 Adoption Council
 

Similar to David Binetti Lean Startup Votizen Pivot at SLLCONF 2011 (20)

Pivot
PivotPivot
Pivot
 
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
Startup Funding Options - From Kickstarter to Venture Capital - Dreamforce 20...
 
Connect and Engage Better with Provocation-based Selling
Connect and Engage Better with Provocation-based SellingConnect and Engage Better with Provocation-based Selling
Connect and Engage Better with Provocation-based Selling
 
Private company secondary markets october 2011
Private company secondary markets   october 2011Private company secondary markets   october 2011
Private company secondary markets october 2011
 
Private company secondary markets october 2011
Private company secondary markets   october 2011Private company secondary markets   october 2011
Private company secondary markets october 2011
 
2011 11-15 how to achieve predictable scalable revenue growth v5
2011 11-15 how to achieve predictable scalable revenue growth v52011 11-15 how to achieve predictable scalable revenue growth v5
2011 11-15 how to achieve predictable scalable revenue growth v5
 
LBS Presentation: An evening with the Forsyth Group
LBS Presentation: An evening with the Forsyth GroupLBS Presentation: An evening with the Forsyth Group
LBS Presentation: An evening with the Forsyth Group
 
Measuring your social output
Measuring your social outputMeasuring your social output
Measuring your social output
 
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
Demand Generation Tools Webcast: Drive more leads with Alinean value-marketin...
 
Seth Elliott (IT Spring 2013)
Seth Elliott (IT Spring 2013)Seth Elliott (IT Spring 2013)
Seth Elliott (IT Spring 2013)
 
Using social for customer service: Separating content and support - Claire Ka...
Using social for customer service: Separating content and support - Claire Ka...Using social for customer service: Separating content and support - Claire Ka...
Using social for customer service: Separating content and support - Claire Ka...
 
Interactive White Paper Webcast: Increase content marketing effectiveness
Interactive White Paper Webcast: Increase content marketing effectivenessInteractive White Paper Webcast: Increase content marketing effectiveness
Interactive White Paper Webcast: Increase content marketing effectiveness
 
FgmBizPlanDraft
FgmBizPlanDraftFgmBizPlanDraft
FgmBizPlanDraft
 
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
Leverage Customer Communities to Reduce Support Costs and Drive Product Innov...
 
Increase Lead Cycle Velocity and Close More Deals
Increase Lead Cycle Velocity and Close More DealsIncrease Lead Cycle Velocity and Close More Deals
Increase Lead Cycle Velocity and Close More Deals
 
7 Myths of Lean and How Analytics Can Help
7 Myths of Lean and How Analytics Can Help7 Myths of Lean and How Analytics Can Help
7 Myths of Lean and How Analytics Can Help
 
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
Real Estate Finance 301: Raising Capital in Today’s Economy – Strategies and ...
 
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
Is the Check Still in the Mail? Fundraising Best Practices for 2013 and Beyond.
 
General Assembly Online Retail
General Assembly Online RetailGeneral Assembly Online Retail
General Assembly Online Retail
 
2.0 Adoption in the Enterprise - The After
2.0 Adoption in the Enterprise - The After2.0 Adoption in the Enterprise - The After
2.0 Adoption in the Enterprise - The After
 

More from Eric Ries

Tendai Charasika - 2012 Lean Startup Conference
Tendai Charasika - 2012 Lean Startup ConferenceTendai Charasika - 2012 Lean Startup Conference
Tendai Charasika - 2012 Lean Startup Conference
Eric Ries
 
Stephanie Hay - Lean Startup Conference 2012
Stephanie Hay - Lean Startup Conference 2012Stephanie Hay - Lean Startup Conference 2012
Stephanie Hay - Lean Startup Conference 2012
Eric Ries
 
Jessica Scorpio - 2012 Lean Startup Conference
Jessica Scorpio - 2012 Lean Startup ConferenceJessica Scorpio - 2012 Lean Startup Conference
Jessica Scorpio - 2012 Lean Startup Conference
Eric Ries
 
Robert Fan - 2012 Lean Startup Conference
Robert Fan - 2012 Lean Startup ConferenceRobert Fan - 2012 Lean Startup Conference
Robert Fan - 2012 Lean Startup Conference
Eric Ries
 
Leah Busque - 2012 Lean Startup Conference
Leah Busque - 2012 Lean Startup ConferenceLeah Busque - 2012 Lean Startup Conference
Leah Busque - 2012 Lean Startup Conference
Eric Ries
 
Lane Halley - 2012 Lean Startup Conference
Lane Halley - 2012 Lean Startup ConferenceLane Halley - 2012 Lean Startup Conference
Lane Halley - 2012 Lean Startup Conference
Eric Ries
 
Justin Wilcox - Lean Startup Conference 2012
Justin Wilcox - Lean Startup Conference 2012Justin Wilcox - Lean Startup Conference 2012
Justin Wilcox - Lean Startup Conference 2012
Eric Ries
 
Ivory Madison - 2012 Lean Startup Conference
Ivory Madison - 2012 Lean Startup ConferenceIvory Madison - 2012 Lean Startup Conference
Ivory Madison - 2012 Lean Startup Conference
Eric Ries
 
Daniel Kim - 2012 Lean Startup Conference
Daniel Kim - 2012 Lean Startup ConferenceDaniel Kim - 2012 Lean Startup Conference
Daniel Kim - 2012 Lean Startup Conference
Eric Ries
 
Charles Hudson - 2012 Lean Startup Conference
Charles Hudson - 2012 Lean Startup ConferenceCharles Hudson - 2012 Lean Startup Conference
Charles Hudson - 2012 Lean Startup Conference
Eric Ries
 
George Bilbrey - 2012 Lean Startup Conference
George Bilbrey - 2012 Lean Startup ConferenceGeorge Bilbrey - 2012 Lean Startup Conference
George Bilbrey - 2012 Lean Startup Conference
Eric Ries
 
Ash Maurya Innovation Accounting - 2012 Lean Startup Conference
Ash Maurya Innovation Accounting - 2012 Lean Startup ConferenceAsh Maurya Innovation Accounting - 2012 Lean Startup Conference
Ash Maurya Innovation Accounting - 2012 Lean Startup Conference
Eric Ries
 
Andres Glusman - 2012 Lean Startup Conference
Andres Glusman - 2012 Lean Startup ConferenceAndres Glusman - 2012 Lean Startup Conference
Andres Glusman - 2012 Lean Startup Conference
Eric Ries
 
Back to the Roots - 2012 Lean Startup Conference
Back to the Roots - 2012 Lean Startup ConferenceBack to the Roots - 2012 Lean Startup Conference
Back to the Roots - 2012 Lean Startup Conference
Eric Ries
 
2012 05 15 eric ries the lean startup pwc canada
2012 05 15 eric ries the lean startup pwc canada2012 05 15 eric ries the lean startup pwc canada
2012 05 15 eric ries the lean startup pwc canada
Eric Ries
 
Dropbox startup lessons learned 2011
Dropbox   startup lessons learned 2011Dropbox   startup lessons learned 2011
Dropbox startup lessons learned 2011
Eric Ries
 
2011 10 12 eric ries lean startup web 2.0 expo ny keynote
2011 10 12 eric ries lean startup web 2.0 expo ny keynote2011 10 12 eric ries lean startup web 2.0 expo ny keynote
2011 10 12 eric ries lean startup web 2.0 expo ny keynote
Eric Ries
 
The Lean Startup debuts at #2 on the New York Times Bestseller List
The Lean Startup debuts at #2 on the New York Times Bestseller ListThe Lean Startup debuts at #2 on the New York Times Bestseller List
The Lean Startup debuts at #2 on the New York Times Bestseller List
Eric Ries
 
The Lean Startup 10-Book Package
The Lean Startup 10-Book PackageThe Lean Startup 10-Book Package
The Lean Startup 10-Book Package
Eric Ries
 
The Lean Startup 30-Book Package
The Lean Startup 30-Book PackageThe Lean Startup 30-Book Package
The Lean Startup 30-Book Package
Eric Ries
 

More from Eric Ries (20)

Tendai Charasika - 2012 Lean Startup Conference
Tendai Charasika - 2012 Lean Startup ConferenceTendai Charasika - 2012 Lean Startup Conference
Tendai Charasika - 2012 Lean Startup Conference
 
Stephanie Hay - Lean Startup Conference 2012
Stephanie Hay - Lean Startup Conference 2012Stephanie Hay - Lean Startup Conference 2012
Stephanie Hay - Lean Startup Conference 2012
 
Jessica Scorpio - 2012 Lean Startup Conference
Jessica Scorpio - 2012 Lean Startup ConferenceJessica Scorpio - 2012 Lean Startup Conference
Jessica Scorpio - 2012 Lean Startup Conference
 
Robert Fan - 2012 Lean Startup Conference
Robert Fan - 2012 Lean Startup ConferenceRobert Fan - 2012 Lean Startup Conference
Robert Fan - 2012 Lean Startup Conference
 
Leah Busque - 2012 Lean Startup Conference
Leah Busque - 2012 Lean Startup ConferenceLeah Busque - 2012 Lean Startup Conference
Leah Busque - 2012 Lean Startup Conference
 
Lane Halley - 2012 Lean Startup Conference
Lane Halley - 2012 Lean Startup ConferenceLane Halley - 2012 Lean Startup Conference
Lane Halley - 2012 Lean Startup Conference
 
Justin Wilcox - Lean Startup Conference 2012
Justin Wilcox - Lean Startup Conference 2012Justin Wilcox - Lean Startup Conference 2012
Justin Wilcox - Lean Startup Conference 2012
 
Ivory Madison - 2012 Lean Startup Conference
Ivory Madison - 2012 Lean Startup ConferenceIvory Madison - 2012 Lean Startup Conference
Ivory Madison - 2012 Lean Startup Conference
 
Daniel Kim - 2012 Lean Startup Conference
Daniel Kim - 2012 Lean Startup ConferenceDaniel Kim - 2012 Lean Startup Conference
Daniel Kim - 2012 Lean Startup Conference
 
Charles Hudson - 2012 Lean Startup Conference
Charles Hudson - 2012 Lean Startup ConferenceCharles Hudson - 2012 Lean Startup Conference
Charles Hudson - 2012 Lean Startup Conference
 
George Bilbrey - 2012 Lean Startup Conference
George Bilbrey - 2012 Lean Startup ConferenceGeorge Bilbrey - 2012 Lean Startup Conference
George Bilbrey - 2012 Lean Startup Conference
 
Ash Maurya Innovation Accounting - 2012 Lean Startup Conference
Ash Maurya Innovation Accounting - 2012 Lean Startup ConferenceAsh Maurya Innovation Accounting - 2012 Lean Startup Conference
Ash Maurya Innovation Accounting - 2012 Lean Startup Conference
 
Andres Glusman - 2012 Lean Startup Conference
Andres Glusman - 2012 Lean Startup ConferenceAndres Glusman - 2012 Lean Startup Conference
Andres Glusman - 2012 Lean Startup Conference
 
Back to the Roots - 2012 Lean Startup Conference
Back to the Roots - 2012 Lean Startup ConferenceBack to the Roots - 2012 Lean Startup Conference
Back to the Roots - 2012 Lean Startup Conference
 
2012 05 15 eric ries the lean startup pwc canada
2012 05 15 eric ries the lean startup pwc canada2012 05 15 eric ries the lean startup pwc canada
2012 05 15 eric ries the lean startup pwc canada
 
Dropbox startup lessons learned 2011
Dropbox   startup lessons learned 2011Dropbox   startup lessons learned 2011
Dropbox startup lessons learned 2011
 
2011 10 12 eric ries lean startup web 2.0 expo ny keynote
2011 10 12 eric ries lean startup web 2.0 expo ny keynote2011 10 12 eric ries lean startup web 2.0 expo ny keynote
2011 10 12 eric ries lean startup web 2.0 expo ny keynote
 
The Lean Startup debuts at #2 on the New York Times Bestseller List
The Lean Startup debuts at #2 on the New York Times Bestseller ListThe Lean Startup debuts at #2 on the New York Times Bestseller List
The Lean Startup debuts at #2 on the New York Times Bestseller List
 
The Lean Startup 10-Book Package
The Lean Startup 10-Book PackageThe Lean Startup 10-Book Package
The Lean Startup 10-Book Package
 
The Lean Startup 30-Book Package
The Lean Startup 30-Book PackageThe Lean Startup 30-Book Package
The Lean Startup 30-Book Package
 

Recently uploaded

You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
Cynthia Clay
 
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
44annissa
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
projectseasy
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
Dubiz
 
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
grouphirani24
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Razin Mustafiz
 
The Power of Digital Marketing in the Modern Age.pdf
The Power of Digital Marketing in the Modern Age.pdfThe Power of Digital Marketing in the Modern Age.pdf
The Power of Digital Marketing in the Modern Age.pdf
David Thomson
 
Test Bank For Principles Of Cost Accounting, 17th Edition Edward J. Vander...
Test Bank For Principles Of Cost Accounting, 	  17th Edition Edward J. Vander...Test Bank For Principles Of Cost Accounting, 	  17th Edition Edward J. Vander...
Test Bank For Principles Of Cost Accounting, 17th Edition Edward J. Vander...
kevinkariuki227
 
10 Barriers to Effective Communications.
10 Barriers to Effective Communications.10 Barriers to Effective Communications.
10 Barriers to Effective Communications.
Cora335316
 
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
dimplekumaridk322
 
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdfEN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
ivanparu86
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
Newman George Leech
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
maigasapphire
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
James AH Campbell
 
AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...
Auxis Consulting & Outsourcing
 
ShotOniPhone campaign by Vancy macwan.pptx
ShotOniPhone campaign by Vancy macwan.pptxShotOniPhone campaign by Vancy macwan.pptx
ShotOniPhone campaign by Vancy macwan.pptx
macwanvancy
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
Hector Del Castillo, CPM, CPMM
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
projectseasy
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
emmanuelpulido003
 
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
kevinkariuki227
 

Recently uploaded (20)

You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual TrainingpptxYou Get Me! Leveraging Communication Styles in Virtual Trainingpptx
You Get Me! Leveraging Communication Styles in Virtual Trainingpptx
 
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2TALENT ACQUISITION AND MANAGEMENT LECTURE 2
TALENT ACQUISITION AND MANAGEMENT LECTURE 2
 
A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024A Complete Guide of Dubai Freelance Visa and Permit in 2024
A Complete Guide of Dubai Freelance Visa and Permit in 2024
 
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
Why is Structural Engineering Critical in Disaster Preparedness and Resilienc...
 
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
Growth Buyouts - The  Dawn of the GBO (Slow Ventures)Growth Buyouts - The  Dawn of the GBO (Slow Ventures)
Growth Buyouts - The Dawn of the GBO (Slow Ventures)
 
The Power of Digital Marketing in the Modern Age.pdf
The Power of Digital Marketing in the Modern Age.pdfThe Power of Digital Marketing in the Modern Age.pdf
The Power of Digital Marketing in the Modern Age.pdf
 
Test Bank For Principles Of Cost Accounting, 17th Edition Edward J. Vander...
Test Bank For Principles Of Cost Accounting, 	  17th Edition Edward J. Vander...Test Bank For Principles Of Cost Accounting, 	  17th Edition Edward J. Vander...
Test Bank For Principles Of Cost Accounting, 17th Edition Edward J. Vander...
 
10 Barriers to Effective Communications.
10 Barriers to Effective Communications.10 Barriers to Effective Communications.
10 Barriers to Effective Communications.
 
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
 
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdfEN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
EN_Chinese-Automotive-in-SEA-Vero-White-Paper_2023.pdf
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
 
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in CityGirls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
Girls Call Kharghar 9910780858 Provide Best And Top Girl Service And No1 in City
 
Corporate Governance for South African Mining Companies
Corporate Governance for South African Mining CompaniesCorporate Governance for South African Mining Companies
Corporate Governance for South African Mining Companies
 
AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...AI at Work​ The demystification of AI and real-world stories on how to apply ...
AI at Work​ The demystification of AI and real-world stories on how to apply ...
 
ShotOniPhone campaign by Vancy macwan.pptx
ShotOniPhone campaign by Vancy macwan.pptxShotOniPhone campaign by Vancy macwan.pptx
ShotOniPhone campaign by Vancy macwan.pptx
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
 
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5TALENT ACQUISITION AND MANAGEMENT LECTURE 5
TALENT ACQUISITION AND MANAGEMENT LECTURE 5
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
 
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
TEST BANK For Auditing & Assurance Services A Systematic Approach, 12th Editi...
 

David Binetti Lean Startup Votizen Pivot at SLLCONF 2011

  • 1. When and How to Pivot Presented at Startup Lessons Learned 23 May 2011 David Binetti @dbinetti
  • 2. Preface • Share! • No Original Thoughts... • We’re Hiring! slideshare.com/votizen @dbinetti
  • 3. A Bit About Me • Business Model Designer at Votizen • Mentor at Hacker Dojo • Six Startups both Agile and Fixed @dbinetti
  • 4. A Bit About You • Startups? • Something else? • Unsure? @dbinetti
  • 5. High Finance @dbinetti
  • 6. High Finance 33% 33% 33% @dbinetti
  • 7. High Finance 10% 30% 30% 30% @dbinetti
  • 8. High Finance 13% 20% 20% 20% 7% 20% @dbinetti
  • 9. High Finance 12% 20% 12% 20% 12% 5% 19% @dbinetti
  • 10. High Finance Sells for: $50M 12% 20% 12% Your stake: ~$6M 20% 12% Chance of Success: 10% 5% 19% Expected Value: $600K @dbinetti
  • 11. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 @dbinetti
  • 12. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 @dbinetti
  • 13. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 Expected 1.0 M 1.0 M @dbinetti
  • 14. High Finance Startup Google Y1 0 175 Y2 40 175 Y3 120 200 Y4 120 200 Y5 120 + 600 250 Expected 1.0 M 1.0 M Variance 3.6 x 10^12 0 @dbinetti
  • 15. High Finance • You must be high if you think this makes financial sense. • But money isn’t everything. • What makes the entrepreneur different? @dbinetti
  • 20. Why Lean? • Mitigates your reality distortion field. • Helps avoid (expensive) false positives. • Converts market risk to technical risk @dbinetti
  • 21. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 22. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 23. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 24. Lean Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 25. On Pivots @dbinetti
  • 26. On Pivots @dbinetti
  • 27. On Pivots • Pivots are restatements of your business model; not synonymous with change. • Pivots are a consequence of learning about your business, not just your product. • Pivots are vision-driven, not testing-driven. @dbinetti
  • 28. Our Vision • Social media is disrupting Politics. • Voters can now join with each other and connect to their officials directly. • Facilitating meaningful connections will result in a new form of civic participation that will profoundly change our world. @dbinetti
  • 29. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 30. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Facebook for politics Problem People want a stronger voice Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (donations engine) Competitive Hyper-fragmented @dbinetti
  • 31. 1.0 1.1 2.0 3.0 4.0 Metric Description Acquisition Creates account Activation Certified authenticity Referrals Forwards to friends Retention Uses system thrice or greater Revenue Supports causes @dbinetti
  • 32. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 33. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  • 34. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  • 35. 1.0 1.1 2.0 3.0 4.0 • Did: The “MVP”, six weeks at $1206 • Learned: It’s a start. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% Activation 17% Referrals - Retention - Revenue - @dbinetti
  • 36. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 37. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 38. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 39. 1.0 1.1 2.0 3.0 4.0 • Did: A/B testing to optimize • Learned: Significant jump in conversion. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 40. 1.0 1.1 2.0 3.0 4.0 • Did: Same process as before • Learned: Missing something important. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 41. 1.0 1.1 2.0 3.0 4.0 • Did: Same process as before • Learned: Missing something important. Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% Activation 17% 90% Referrals - 4% Retention - 5% Revenue - - @dbinetti
  • 42. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 43. When to Pivot • Surveys, A/B testing, landing pages, etc. are all good ways to find a local maximum for a given set of assumptions. • If you’ve hit that local max and your model isn’t a sustainable business, it’s time to restate your assumptions (ie, to pivot.) @dbinetti
  • 44. How to Pivot • Put down the dry erase and step away from the whiteboard. • You earned what you learned; don’t flail. • Vision + Learning = Inspiration @dbinetti
  • 45. In My Case • Looked past the product to the nature of the problem. • “I’ve always wanted to get involved. This makes it so much easier.” • Put myself in the “let’s make it easier” mindset and got out of the building. • Lead to the inspiration for @2gov. @dbinetti
  • 46. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 47. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple messaging tool Problem Getting involved is hard Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (donations engine) Competitive Hyper-fragmented @dbinetti
  • 48. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 49. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  • 50. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  • 51. 1.0 1.1 2.0 3.0 4.0 • Did: Asymmetric message delivery • Learned: Found a new local max on revenue Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% Activation 17% 90% 83% Referrals - 4% 54% Retention - 5% 21% Revenue - - 1% @dbinetti
  • 52. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 53. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple involvement tool Problem People want to be good citizens Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (campaign management) Competitive Hyper-fragmented @dbinetti
  • 54. Focus on Revenue • Website, analytics, dashboards. • Custom work specific to your issue. • People loved it! Let’s Build! @dbinetti
  • 55. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  • 56. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  • 57. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% ! Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  • 58. 1.0 1.1 2.0 3.0 4.0 • Did: New tools and analytics • Learned: No signature means no sale Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% Activation 17% 90% 83% 85% Referrals - 4% 54% 52% ! Retention - 5% 21% 24% Revenue - - 1% 0% @dbinetti
  • 59. Don’t Underestimate • Easy to fool yourself • “Show Yourself the Money” • This is why PR and vanity metrics are so dangerous. @dbinetti
  • 60. The Framework Formulate Iterate, Release & Model Measure Pivot @dbinetti
  • 61. Learning • Poor Sales Cycle (contract, cost, channel) • “I’m just not sure about this Twitter thing.” • Make the engagement easy to try and show ROI out of the gate. @dbinetti
  • 62. 1.0 1.1 2.0 3.0 4.0 Model Hypothesis Product Simple involvement tool Problem People want to be good citizens Channel Social networks Demand Viral (self-perpetuating demand) Market Resegmented (look like AdWords) Competitive Hyper-fragmented @dbinetti
  • 63. Ad Words for Activism • Special Delivery on a per-message basis • Only pay for value • Initial sale: $200 first day. @dbinetti
  • 64. 1.0 1.1 2.0 3.0 4.0 • Total investment at this point: ~$120K and 18 months. • Model has promise; raise some funds Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% 51% Activation 17% 90% 83% 85% 92% Referrals - 4% 54% 52% 64% Retention - 5% 21% 24% 28% Revenue - - 1% 0% 11% @dbinetti
  • 65. 1.0 1.1 2.0 3.0 4.0 • Total investment at this point: ~$120K and 18 months. • Model has promise; raise some funds Metric v.1 v.1.1 v.2 v.3 v.4 Acquisition 5% 17% 42% 43% 51% Activation 17% 90% 83% 85% 92% Referrals - 4% 54% 52% 64% Retention - 5% 21% 24% 28% Revenue - - 1% 0% 11% @dbinetti
  • 66. Important Notes • Iteration loops got tighter. • Each validation justified a higher level of investment/engagement. • 1K - 10K - 100K - 1000K • Seek funding when you think you have more technical risk than market risk. @dbinetti
  • 67. Summary • Set Model so you know what your measuring and when you’re done. • Use Metrics to find local maxima, not to find a business. • Pivots are vision-driven. @dbinetti
  • 69. Final Thought @dbinetti

Editor's Notes

  1. \n
  2. \n
  3. \n
  4. \n
  5. \n
  6. \n
  7. \n
  8. \n
  9. \n
  10. \n
  11. \n
  12. \n
  13. \n
  14. \n
  15. \n
  16. \n
  17. \n
  18. \n
  19. \n
  20. \n
  21. \n
  22. \n
  23. \n
  24. \n
  25. \n
  26. \n
  27. \n
  28. \n
  29. \n
  30. \n
  31. \n
  32. \n
  33. \n
  34. \n
  35. \n
  36. \n
  37. \n
  38. \n
  39. \n
  40. \n
  41. \n
  42. \n
  43. \n
  44. \n
  45. \n
  46. \n
  47. \n
  48. \n
  49. \n
  50. \n
  51. \n
  52. \n
  53. \n
  54. \n
  55. \n
  56. \n
  57. \n
  58. \n
  59. \n