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Day22016 mbashort
This document discusses what startups are and how they differ from large companies. It notes that startups have been responsible for 50% of innovation and 95% of radical innovation since WWII despite accounting for a small percentage of R&D spending. A startup is defined as an organization designed to deliver a product or service under extreme uncertainty through experimentation and hypothesis testing. Key aspects of startups discussed include their focus on achieving problem/solution fit and product/market fit through iterative customer validation, high failure rates, need for rapid decision making and learning, and emphasis on preserving cash. The document advocates for using the Lean Canvas model to structure startup learning through validating hypotheses with customers before scaling.
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Day22016 mbashort
- 1.
- 2. WHAT IS ASTARTUP? New Venture Development, Bora Özkent 2014 2
- 3. Why? Since WW2 startups have made%50 of all innovation and 95% of radical innovation in US. 24 times more innovation per R&D dollars. New Venture Development, Bora Özkent 2014 3
- 4. 4 New Venture Development,Bora Özkent 2014
- 5. 5 New Venture Development,Bora Özkent 2014
- 6. 6 New Venture Development,Bora Özkent 2014
- 7. Startups Are NotSmaller Versions of Big Companies New Venture Development, Bora Özkent 2014 7
- 8. 8 WHAT IS ASTARTUP? a human institution designed to deliver a product or service under extreme uncertainty experiment
- 12. Companies vs Startups NewVenture Development, Bora Özkent 2014 12
- 13. A startup isa hypothesis (or a set of hypotheses)
- 14. Every hypothesis needstesting
- 15. hypothesis testing methods NewVenture Development, Bora Özkent 2014 15
- 16. LEAN STARTUP New VentureDevelopment, Bora Özkent 2014 16
- 17. 70%10 % makemoney fail New Venture Development, Bora Özkent 2014 17
- 18. Most startups fail from a lackof (paying) customers. New Venture Development, Bora Özkent 2014 18
- 19. We need structured learning beforewe execute. New Venture Development, Bora Özkent 2014 19
- 25. Startups are specialcreatures • There Are No Facts Inside Your Building, So Get Outside • Failure is an Integral Part of the Search for the Business Model • If You’re Afraid to Fail You’re Destined to Do So • Validate Your Hypotheses with Experiments • No Business Plan Survives First Contact with Customers • Startup Metrics are Different from Existing Companies • Fast, Fearless Decision- Making, Cycle Time, Speed and Tempo • If it’s not About Passion, You’re Dead the Day You Opened your Doors • Startup Titles and Functions Are Very Different from a Company’s • Preserve Cash While Searching. After It’s Found, Spend • Communicate and Share Learning • Startups Demand Comfort with Chaos and Uncertainty
- 26. RUNNING WITH LEAN CANVAS 26 NewVenture Development, Bora Özkent 2014
- 27. Validate Problem/Solution Fit Problem/Solut ionFit Product/Mar ket Fit Scal e Do I have a problem worth solving? Thursday, November 4, 2010
- 28. Achieve Product/Market Fit HaveI built something people want? Problem/Solut ion Fit Product/Mar ket Fit Scal e Thursday, November 4, 2010
- 29. Requireme nts Relea se Developme nt Q A Some learning Very littlelearning Most learning happens here Thursday, November 4, 2010
- 30.
- 31. Before Product/Market Fit ValidatedLearning Pivots Problem/Solut ion Fit Product/Mar ket Fit Scal e Thursday, November 4, 2010
- 32. After Product/Market Fit Growth Optimizations ValidatedLearning Pivots Problem/Solut ion Fit Product/Mar ket Fit Scal e Thursday, November 4, 2010
- 33. New Venture Development,Bora Özkent 2014 33
- 34. Business Model vsBusiness Plan Adocument investors make you write that they don’t read Thursday, November 4, 2010
- 35. Business Model vsBusiness Plan Asingle diagram of your business Thursday, November 4, 2010
- 36. Homework for Tomorrow •Read Running Lean – Part-2 Create Your Lean Canvas (Pages 23-45) • Watch Video Again: Running Lean / Ash Maurya https://www.youtube.com/watch?v=7o8uYdUaFR4 • Optional: Visit Ash Maurya’s You Tube Channel and Watch an extra video and prepare comments:https://www.youtube.com/channel/UCimRGeoiw UPmIddym-HdaCg • Prepare the first version of your Lean Canvas (Use LeanStack.Com for documentation) • Send it to me until latest 12 AM tomorrow as single slide with your team name on it. 36
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