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#sllconfWelcome to the Lean Startup Movement#leanstartupEric Ries (@ericries)http://StartupLessonsLearned.com
Globalhttp://lean-startup.meetup.com/
AcademicHarvard Business School
Minimum Viable Product Fundhttp://www.hbs.edu/news/releases/mvpwinners2011.html
Launching Technology Ventureshttp://platformsandnetworks.blogspot.com/2011/01/launching-tech-ventures-part-i-course.html
Stanford University
Lean LaunchPadhttp://steveblank.com/category/lean-launchpad/
BYU
Lean Startup Research Projecthttp://nathanfurr.com/2010/09/15/the-lean-startup-research-project/http://bit.ly/FourStepshttp://bit.ly/CustdevRunningLeanHQ.com
Coming September 13, 2011http://lean.st or http://bit.ly/LeanStartupBook
Watch what happens behind the scenes & see every experiment we’ve run at: http://lean.st
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is managementValidated LearningBuild – Measure - LearnInnovation Accounting
Lean Startup PrinciplesEntrepreneurs are everywhere
What is a startup?A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
Nothing to do with size of company, sector of the economy, or industryWhat is a startup?STARTUP =EXPERIMENT
STOPWASTINGPEOPLE’STIME
Who to BlameFather of scientific managementStudy work to find the best wayManagement by exceptionStandardize work into tasksCompensate workers based on performance“In the past, the man was first. In the future, the system will be first.” (1911)Frederick Winslow Taylor(1856 – 1915)
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is management
Entrepreneurship is managementOur goal is to create an institution, not just a product
Traditional management practices fail- “general management” as taught to MBAsNeed practices and principles geared to the startup context of extreme uncertainty
Not just for “two guys in a garage”The Pivot
Eric Ries sllconf keynote: state of the lean startup movement
I’
Eric Ries sllconf keynote: state of the lean startup movement
The PivotWhat do successful startups have in common?
They started out as digital cash for PDAs, but evolved into online payments for eBay.
They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
They were shocked to discover their online games company was actually a photo-sharing site.
Pivot: change directions but stay grounded in what we’ve learned. Speed WinsIf we can reduce the time between pivotsWe can increase our odds of successBefore we run out of money
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is managementValidated Learning
Achieving FailureIf we’re building something nobody wants, what does it matter if we accomplish it:On time?On budget?With high quality?With beautiful design?Achieving Failure = successfully executing a bad plan The Lean RevolutionW. Edwards Deming(1900 – 1993)TaiichiOhno - 大野 耐(1912 – 1990)“The customer is the most important part of the production line.” -Deming
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is managementValidated LearningBuild – Measure - Learn
Minimize TOTAL time through the loop
There’s much more…Build FasterUnit TestsUsability TestsContinuous IntegrationIncremental DeploymentFree & Open-SourceCloud ComputingCluster Immune SystemJust-in-time ScalabilityRefactoringDeveloper SandboxMinimum Viable ProductLearn FasterSplit TestsCustomer DevelopmentFive WhysCustomer Advisory BoardFalsifiable HypothesesProduct OwnerAccountabilityCustomer ArchetypesCross-functional TeamsSemi-autonomous TeamsSmoke TestsMeasure FasterFunnel AnalysisCohort AnalysisNet Promoter ScoreSearch Engine MarketingPredictive MonitoringMeasure FasterSplit TestsContinuous DeploymentUsability TestsReal-time Monitoring & AlertingCustomer Liaison
STOPWASTINGPEOPLE’STIME
The Toyota Wayhttp://bit.ly/thetoyotaway
The Startup Way
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is managementValidated LearningBuild – Measure - LearnInnovation Accounting
Innovation AccountingThe Three Learning MilestonesEstablish the baselineBuild a Minimum Viable Product (MVP)
Measure how customers behave right nowTune the engine- Experiment to see if we can improve metrics from the baseline towards the ideal Pivot or persevere- When experiments reach diminishing returns, it’s time to pivot.
QuestionsHow do we know when to pivot?Vision or Strategy or Product?What should we measure?How do products grow?Are we creating value?What’s in the MVP?Can we go faster?
Coming September 13, 2011http://lean.st or http://bit.ly/LeanStartupBook
Thanks!Buy the book @ http://lean.st
Startup Lessons Learned Blog
http://StartupLessonsLearned.com
Getting in touch (#leanstartup)
http://twitter.com/ericries
eric@theleanstartup.com
Additional resources
NEW: http://theleanstartup.com
Lean Startup Wiki: http://leanstartup.pbworks.com
Myth #1MythLean means cheap. Lean startups try to spend as little money as possible.Truth The Lean Startup method is not about cost, it is about speed.
Myth #2MythThe Lean Startup is only for Web 2.0/internet/consumer software companies.Truth The Lean Startup applies to all companies that face uncertainty about what customers will want.
Myth #3MythLean Startups are small bootstrapped startups.Truth Lean Startups are ambitious and are able to deploy large amounts of capital.
Myth #4MythLean Startups replace vision with dataor customer feedback.Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision
Lean Startup PrinciplesEntrepreneurs are everywhereEntrepreneurship is managementValidated LearningBuild – Measure - LearnInnovation Accounting
Minimum Viable ProductVisionary customers can “fill in the gaps” on missing features, if the product solves a real problem
Allows us to achieve a big vision in small increments without going in circles
Requires a commitment to iteration
MVP is only for BIG VISION products; unnecessary for minimal products.Continuous DeploymentLearn FasterCustomer DevelopmentFive WhysBuild FasterContinuous DeploymentSmall BatchesMinimum Viable ProductRefactoringMeasure FasterSplit TestingActionable MetricsNet Promoter ScoreSEM
Continuous Deployment PrinciplesHave every problem onceStop the line when anything failsFast response over prevention
Continuous DeploymentDeploy new software quickly
At IMVU time from check-in to production = 20 minutes
Tell a good change from a bad change (quickly)
Revert a bad change quickly

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Eric Ries sllconf keynote: state of the lean startup movement

Editor's Notes

  1. I’m not leaving you, I’m pivoting to another man
  2. Conference structure
  3. Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
  4. Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
  5. Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
  6. Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.
  7. I’m not leaving you, I’m pivoting to another man