Introduction to lean & agile
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CEED is launching a Go-to-market program I helped put together, focused on how to launch new products in a lean & agile fashion. Here's a brief introduction on what "lean & agile" is.
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Introduction to lean & agile
- 1. Being lean & agile Jugoslav Petković @yougo jugoslavp@gmail.com
- 3. Innovation is a black box? Can we set up an environment, where innovation can happen?
- 5. A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.
- 6. Izdelek vs Produkt
- 7. Startup Genome project’s startup lifecycle Discovery Validation Efficiency Scale Profit maximization Renewal/Decline
- 9. Are you solving a real problem? Would anyone be interested in your solution? Discovery Founding team formed, customer interviews, value proposition, minimum viable product.
- 10. Are you solving a real problem? Would anyone be interested in your solution? Discovery Founding team formed, customer interviews, value proposition, minimum viable product. Early validation that people are interested in your solution through exchange of money or attention. Validation Refine features, initial user growth, metrics & analytics implementation, first key hires, pivots, product market fit.
- 11. Are you solving a real problem? Would anyone be interested in your solution? Discovery Founding team formed, customer interviews, value proposition, minimum viable product. Early validation that people are interested in your solution through exchange of money or attention. Validation Refine features, initial user growth, metrics & analytics implementation, first key hires, pivots, product market fit. Refine business model, optimize customer acquisition process. Efficiency Conversion funnel optimization, viral growth, repeatable sales process, scalable acquistion channels.
- 12. Are you solving a real problem? Would anyone be interested in your solution? Discovery Founding team formed, customer interviews, value proposition, minimum viable product. Early validation that people are interested in your solution through exchange of money or attention. Validation Refine features, initial user growth, metrics & analytics implementation, first key hires, pivots, product market fit. Refine business model, optimize customer acquisition process. Efficiency Conversion funnel optimization, viral growth, repeatable sales process, scalable acquistion channels. Step on the gas peddal. Massive customer acquisition, back-end scalability, first Scale executive hires, processes implementation, departments formed.
- 13. ideas LEARN BUILD data product MEASURE
- 14. Business plan: yes or no?
- 15. Business plan: yes or no? Build - Measure - Learn
- 16. Think big, start small
- 17. MVP
- 19. MVP Minimum Viable Product Customers don’t care how much time something takes to build. They care only if it serves their needs.
- 21. “Learning” is the oldest excuse for failure of execution.
- 25. CEED Go-to-market first-time entrepreneurs
- 26. CEED Go-to-market first-time entrepreneurs intrapreneurs
- 27. CEED Go-to-market first-time entrepreneurs intrapreneurs 6 workshops
- 28. CEED Go-to-market first-time entrepreneurs intrapreneurs 6 workshops pitching at the closing event
- 29. CEED Go-to-market first-time entrepreneurs intrapreneurs 6 workshops pitching at the closing event hands-on, mentor challenges
Editor's Notes
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- If you’re a CEED alumni, chances are you have seen this picture before. It’s the organisation lifecycle, very similar to a human lifecycle. But unlike humans, companies don’t have to die. The challenge is to reach prime, the fountain of youth, and stay there. This means keep innovating and launching new products.\n
- New products are innovations. Too often people are taught that innovation happens in a black box, you just have to set up the right environment.\nBut what’s more important actually, is what happens after innovation happens. Do we give it a chance or we kill it with analysis and forecasting.\n
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- Manufacturable product vs marketable product.\n
- Research (Blackbox, Berkeley, Stanford) of 650 startups is the source for the startup lifecycle, which is focused more on product development stages, rather than organisation growth. It helps plan and launch a new product and learn from the market feedback.\n
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- A startup is a catalyst that transforms ideas into products.\nIdeas come as visions and have many uknowns. \n\nThe most important thing is to start testing your assumptions as soon as possible. We test them by conducting experiments and use the findings to incrementally improve the product.\n
- Managing a startup is like driving a car. You have the steering wheel in your hands, so you dont need to plan every detail of your route, how fast you will be going, when you will be driving on the driving lane and fast lane etc. It’s important to know the destination and have an idea how to get there. Then use the wheel to adapt to the circumstances.\nIt’s more important to set up the Build, Measure, Learn loop as soon as possible.\n
- Managing a startup is like driving a car. You have the steering wheel in your hands, so you dont need to plan every detail of your route, how fast you will be going, when you will be driving on the driving lane and fast lane etc. It’s important to know the destination and have an idea how to get there. Then use the wheel to adapt to the circumstances.\nIt’s more important to set up the Build, Measure, Learn loop as soon as possible.\n
- In entrepreneurship we can “try and see what happens”. That the “just do it” school of thought. If the goal is to see what will happen, you will always succeed - in seeing what happens.\nIt’s better to take a more scientific approach. An experiment is conducted by setting a hypothesis that makes predictions about what is supposed to happen and then testing that hypothesis. \n
- Too much planning will paralyze you, but too little leads to failure. So after setting the initial assumptions we need to jump to the Build phase as soon as possible and start testing assumptions.\nA useful tool is the MVP, which helps us balance the analytical and just-do-it principle. The MVP is the smallest set of features that still clearly distinguishes your product and provides value to the customer, but what’s also important is that it tests your main hypothesis. The idea is to start learning as soon as possible, without delay. The product doesn’t have to be perfect, the early adopters will use it anyway, if it solves their problem.\n
- Too much planning will paralyze you, but too little leads to failure. So after setting the initial assumptions we need to jump to the Build phase as soon as possible and start testing assumptions.\nA useful tool is the MVP, which helps us balance the analytical and just-do-it principle. The MVP is the smallest set of features that still clearly distinguishes your product and provides value to the customer, but what’s also important is that it tests your main hypothesis. The idea is to start learning as soon as possible, without delay. The product doesn’t have to be perfect, the early adopters will use it anyway, if it solves their problem.\n
- Zappos case: they wanted to sell shoes online, but before they started buying stock, investing in warehouses and employees, they went to the local shoe stores, took pictures of shoes and put them online. When customers bought them, they would go buy them from the local store and send them to the customer. They proved that people are willing to buy shoes online. Then they started testing hypotheses about customer experience, communication, payments, returns policies etc. In 2009 they were acquired by Amazon for $1.2 bn.\n
- Does success mean finishing the project on time and on budget? What if we were building something that nobody wanted? Does it matter if we finished on time and on budget?\nUnder that premise, success is achieved if people have work to do, everything else depends on how good and smart the person who planned the product is. If we took a wrong turn, we will at least have learned something, right?\nBut isn’t learning just an excuse for failure of execution?\n
- Validated learning is not just after-the-fact rationalization or a good story designed to hide failure. It’s a process of empirically demostrating that a team has discovered valuable truths about its customers. Any activity that doesn’t lead to better understaning customers is waste. Validated learning means getting empirical data collected from real customers.\n
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