The document summarizes key points from several speakers at the Lean Startup Conference 2016. Guy Kawasaki discussed changing the language around MVP (minimum viable product) to MVVVP (minimal valuable viable validated product). Sam Parr of Hustle said companies should be comfortable with ambiguity. Jeff Gothelf advocated for continual experimentation in projects and programs. Finally, Eric Ries closed by saying entrepreneurship allows us to create something awesome.
3. • The physical Silicon valley is actually a
state of mind
• People don’t get “assigned” to work in
a startup – so where should their
expertise come from?
• The startup is an atomic unit of work
• We need to innovate on a continuous
basis – not once off
• We need to think not of continuous
innovation, but continuous
transformation
• How do we build this skill to do it over
and over and over
ERIC RIES | The Lean Startup
4. “We need to change the
language from MVP to
MVVVP: Minimal Valuable
Viable Validated Product”
GUY KAWASAKI | Canva
5. • Customers cannot tell you what they need
• Innovation happens on the “next curve”
• Most companies define themselves as what they do, rather
than what they provide
• We need to change the language from MVP to MVVVP
• Minimal Valuable Viable Validated Product
• Big challenges cause big changes
• Big challenges deliver big results
• Less is more
• Changing your mind is a sign of intelligence
• Engineers are artists
• You make it, you sell. Everything else is bullshit!
• Innovation ignores naysayers
• Only a loser listens to a loser
• Some things need to be believed to be seen
GUY KAWASAKI | Canva
7. The Hustle: A conversation with Sam Parr
• We should sign up at the Hustle
• Have 5 million readers
• Only email based – shows the power of an email
newsletter
• Ambassador program – 1200 ambassadors –
when an ambassador sign up 20 people they get
a TShirt, when they sign up 50 they get a hoodie.
• Being comfortable with ambiguity is OK
• They create content that can be used on other
sites – lesson for us
• They want to get to a million daily readers
SAM PARR | Hustle
9. Meeting Practices That Support Innovation
Make a list of:
• Agreement on…..
• Decision on….
• Alignment on….
• Ideas for…..
• Events scheduled……
• Stronger relationships…..
• Use norms to establish expected behaviours in meetings
• Ask how might we think boldly
• Challenge assumptions
• Voice concerns
• Realise that customer feedback is more important than our
opinions
• Take notes and use them to build a knowledge bank
• For the Meteor meeting tool see http://www.meeteor.com
MAMIE KANFER STEWART
Meeteor Meeting Practices
11. Scaling Lean: Project, Program, Portfolio
• Agile+Lean = continual learning
• Customer value and business are the same thing
• Look at OKRs (objectives and key results)
• Value learning over delivery
• Build small teams
• Give them one OKR
• Set guidelines for continual experimentation
• Radical transparency
• Rituals
• Standups
• Demo days
• Give them Access to customers
• Let people talk to customers
• Have Humility in all things
• Rethink staffing models
• Build continual learning cycles
• Make it a top down effort
JEFF GOTHELF | Lean UX
13. Design and the Self
• What we make is a tangible expression of
our self
• Simplicity might make us feel vulnerable
• Well designed products are imbued with
honesty
• Design gives us a spirit
• Design communicates values
• Design has an impact on the human spirit
• Well designed products are a manifestation
of mindfulness
• What we make we become, and what we
become we make
• Good design helps us become the best
version of ourselves
IRENE AU | Khosla Ventures
15. Why 40 Hours Is Enough: Lessons From
Basecamp
• If you raise money you become very good at
spending money
• Businesses should be able to work with 40
hours/week/person
• Have only one meeting per month – no
other meetings
JASON FRIED – Basecamp
16. “Everyone in IBM is
now focussed on
“user outcomes”
PHIL GILBERT | IBM Design
17. Design Thinking and Lean
• There is only one key to future growth – the client experience.
• In the past we changed WHAT we were working on, now we are changing
HOW we work.
• Our formula – we must change People + Practices + places
• Design is not the end game
• The end game is the client experience
• We must embrace diversity in all forms
• IBM is adding 1500 designers
• Need to think about this in IBM scale
• Everyone in IBM is now focussed on “user outcomes”
• They are also focussed on Restless re-invention
• Diverse empowered teams are key
• Remember: WE ARE NOT OUR USERS
• Observing is about immersing yourself in your users world
• IBM have “Sponsor Users” who will commit 4-10 hours per week to help
design the solution
• “Go find one person who will give you 5 hours a week to help you build
the solution” – and you know you have a solution
• Ideas are pretty much worthless
• IBM prototype relentlessly
PHIL GILBERT | IBM Design
19. Jake Knapp on Sprints: How to Build and Test
an Idea in Just 40 Hours
• Clear the whole week and have the whole team
focus on one problem
• By Thursday – build it
• Friday: Test it
• Jake has done this 150 times now….
• Monday: teams get together and make a map of
the process of the outcome
• Tuesday: individual ideation
• Wednesday: One person chooses three solutions
(solutions are anonymous)
• Thursday: Build a prototype in 8 hours
• Friday: test with EXACTLY 5 customers
JAKE KNAPP | GV
20. “A little struggle is a
good thing. When you
don’t have resources
you’re forced to think,
be creative and clever.”
TREN GRIFFIN | Microsoft
21. Why entrepreneurs should aim to be missionaries, not mercenaries
1. Missionaries are Devoted to Causes
Missions often stem from “personal pain.” E.g. Netflix originated from the
founder’s fatigue in paying late fees for movie rentals.
2. Missionaries Have Grit
“Missionaries say ‘I’m on a mission here.’ They build the biggest and most
lasting companies”
Grit = the passion and resilience to pursue a goal and keep at it.
“When things get hard, they find a way. They’re focused on building teams,”
“Way more missionaries succeed, and when they do, they succeed bigger.”
3. Missionaries Learn from Their Mistakes
One of Griffin’s early ‘90s starups, Teledesic, aimed to launch a global,
broadband, non-geostationary satellite system. It was “The most un-Lean
startup in the history of the world.” With primary shareholders such as Bill
Gates, Teledesic started out with $20 million in venture capital. But everywhere
they faced risk: “Technical risk, market risk, business risk, political risk, and
regulatory risk,” The company would not be able to earn a single penny or
receive market feedback until it spent $9 billion. Ultimately it “just wasn’t
doable”
TREN GRIFFIN | Microsoft
22. 4. Missionaries Start Lean
It’s better to start a company on a tight budget. “Too much money early is a bad
thing in terms of innovation,” “A little struggle is a good thing. When you don’t
have resources you’re forced to think, be creative and clever.”
5. Missionaries Lead with Bold New Ideas
Missionaries are often those with the “crazy” ideas. “Airbnb sounded crazy. You’re
going to have people staying in your house? What if there’s an axe murderer?”
eBay sounded nuts, too. “You’re going to be trading Pez dispensers,” Yet strange
ideas often go on to become “monster hits.”
6. Missionaries Know Less is More
Every entrepreneur will learn as they go—which means at certain stages of the
game, you may find yourself groping in the dark. This can be a good thing
“because you’re not hidebound in the old ways,” With an open mind, you can run
your company in a new way.
7. Missionaries are Humble but Committed
Missionaries exhibit humility—the ability to recognize when they’re wrong in
business as well as in personal life. A humble attitude allows you to leap beyond
confirmation bias and your own POV to see another way, a key component in
innovation strategy. Admitting you were wrong can give way to the ability to
going after a new, often better goal.
TREN GRIFFIN | Microsoft
24. Closing session
• The details of Lean Startup are highly complex – but this
is not obvious
• If the board or Exec team has not bought in, have a
discussion with them as to what it would take for the
buy-in. Then this list is the set of experiments that must
be run to get their buy-in
• The vast majority of people hired to work in a startup
have never worked in a startup
• A long term view is essential otherwise you don’t need
Lean Startup
• Eric Ries is spending time on LTSE – a Long Term Stock
Exchange
• The cool thing about fantasies is that you don’t have to
make any trade-offs
• A Pivot is a change in strategy without a change in
direction
ERIC RIES
25. T H A N K Y O U
We hope you got some useful insights
To find out more about what we do and how we can
help you lead innovation in your organisation…
+612 9388 9925
contact@thestrategygroup.com.au
