Delivering Innovative Solutions Effectively; Lean Startup Lessons for Enterprise Citizens - Agile Brigade
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You are working extremely hard to build IT right. You are making the deadlines, working overtime. You are following all the new processes and procedures that promise you to be more efficient and effective. You are even upgrading to the latest technology stack for your product. You are delivering and building feature after feature. Let’s pause for a second. Have we asked ourselves the following question: Are we building the Right thing? What assumptions are we making building the product? What data points do we have to support our hypotheses? How shall we get the data points? What are some of the easiest ways to learn what our customers want? If these (or similar ones) are the questions that boggle your mind, join me for an informative and interactive session on Lean Startup Mindset for Intrepreneurs (i.e. Internal Entrepreneurs; you are one too, believe it or not!). I will share with you stories of successful start-ups, and how they evaluated if they build the right thing. How they captured data, and how they pivot from their original idea. I will then introduce you two techniques. These are two practical techniques that you can easily use in your daily lives. The first one is known as the heart of Lean Startup, the Build-Measure-Learn cycle, and the more famous one is the MVP. We are going to get our hands dirty using those techniques on what matters most to you!
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Delivering Innovative Solutions Effectively; Lean Startup Lessons for Enterprise Citizens - Agile Brigade
- 1. @sheidaei /in/sheidaei Delivering Innovative Solutions EffectivelyLean Startup Lessons for Enterprise Citizens Shahin Sheidaei
- 2. @sheidaei /in/sheidaei Nice to Meet you! 2 Shahin Sheidaei Founder & Principal Coach Elevate Change Inc.
- 3. @sheidaei /in/sheidaei Before We Start Let’s build an effective learning environment for all of us. What do you need to see (from yourself and others)? 3
- 4. @sheidaei /in/sheidaei Before We Start The only thing I ask is for your full attention…so consider… × Turning off electronic devices × Be engaged (level up) × Take some risks (open up) × Smile a lot And the Hands-up Protocol 4
- 5. @sheidaei /in/sheidaei Since 2000, over 52% of fortune 500 companies are gone 5 It’s a fast pace, complex and always changing world we live in!
- 6. @sheidaei /in/sheidaei Solutions from thought leaders of the intellectual world! 6
- 7. @sheidaei /in/sheidaei Even combine the solutions for a specific need! 7
- 9. @sheidaei /in/sheidaei × Introduction to Lean Startup × Some stories of the techniques applied in real life × Learn more in depth on some of the techniques 9 Workshop Outcome
- 10. @sheidaei /in/sheidaei A methodology for developing businesses and products, which aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning. 10 Lean Startup
- 11. @sheidaei /in/sheidaei Are we building the Right Thing? × Is it a product that people truly want? × What assumptions are we making to build the product? × How can we get shorter feedbacks to pivot or persevere? × How can we have (validated) faster learnings? 11 Lean Startup Simplified
- 12. @sheidaei /in/sheidaei There are more to Lean Startup 12
- 14. @sheidaei /in/sheidaei 14 Innovation Solving real problems for the customer; Bringing value for to customer through building products for them! The process of translating an idea into a product or service that creates value or for which customers will pay.
- 15. @sheidaei /in/sheidaei Startup A human institution designed to create new products and services under conditions of extreme uncertainty. 15
- 16. @sheidaei /in/sheidaei Entrepreneurship Anyone who works within a startup 16
- 17. @sheidaei /in/sheidaei Who Is an Innovative Entrepreneur? Startup A human institution designed to create new products and services under conditions of extreme uncertainty 17 Entrepreneur Anyone who works within a startup Innovation Solving real problems for the customer
- 19. @sheidaei /in/sheidaei Minimum viable product (MVP) Version of a (new) product which allows a team to collect the maximum amount of (validated) learning about customers with the least effort. 19 The goal of an MVP is to test fundamental hypotheses and to help begin the learning process as quickly as possible. MVP
- 22. @sheidaei /in/sheidaei A Startup The name is not that innovative! They put two words together and created a name. Their first product was a deal: two-pizzas-for-the-price-of-one offer at Motel Bar, a restaurant on the first floor of their own building. 22
- 23. @sheidaei /in/sheidaei A Startup They didn’t even had a (.com) domain They started with a subdomain. It became the biggest IPO for an Internet company since Google in 2004. 23
- 25. @sheidaei /in/sheidaei Groupon “We would sell t-shirts on the first version of Groupon. We’d say in the right up, ‘This t-shirt will come in the color red, size large. If you want a different color or size, email that to us.” ~ Andrew Mason, Groupon founder. 25 MVP
- 26. @sheidaei /in/sheidaei What could be your MVP? Version of a (new) product which allows a team to collect the maximum amount of (validated) learning about customers with the least effort. 26 The goal of an MVP is to test fundamental hypotheses and to help begin the learning process as quickly as possible. MVP
- 28. @sheidaei /in/sheidaei 28 Build Measure Learn
- 29. @sheidaei /in/sheidaei Build Measure Learn The Build–Measure–Learn loop emphasizes speed as a critical ingredient to product development through feedback loop. 29 A team or company's effectiveness is determined by its ability to ideate, quickly build a minimum viable product of that idea, measure its effectiveness in the market, and learn from that experiment.
- 31. @sheidaei /in/sheidaei Another Startup A student forgot their usb key and thought it could be a good idea to start a company It was basically a file sharing company 31
- 32. @sheidaei /in/sheidaei Another Startup Another storage company? Who wants another one? How can we sell? Who will use our product? No product out yet! Not even a working Proof of Concept. 3 min screencast on Hacker News Tons of feedback 32 MVP
- 35. @sheidaei /in/sheidaei Dropbox 100K to many million user in 18 months Hacker News Digg Reddit 35
- 36. @sheidaei /in/sheidaei Dropbox 100K to many million user in 18 months At the Time of IPO × PR Firm - Marketing × $200 - $300 acquisition cost per user × $99 × They were growing organically though! 36 Pivot
- 37. @sheidaei /in/sheidaei Dropbox Bad at getting PR - no new york post etc. Goot at hiring engineers Customers didn’t know they have a problem until someone refer you and you learn the awesomeness of it, and then you dropbox Referral program - 60% sign up raised 37 Validated Learning
- 38. @sheidaei /in/sheidaei 38 Explore Experiments, Build Experiments, Fail Forward!
- 41. @sheidaei /in/sheidaei Build Measure Learn Canvas 41 For Product: Experiment 1: Experiment 2: Learn What do you want to learn? What assumptions do you have to test? Measure What metrics do you need? Build What do you need to build?