Introduction to Lean Startup by Leo Exter
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Ideas from top minds in Lean Startup supported by our own experience. Key principles, recommended reading and practical tips. Presentation prepared for the workshop Bootstrapping/Lean Startup workshop by westartup.
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Introduction to Lean Startup by Leo Exter
- 1. Lean StartupIdeas stolen from clever people, and a bit of my own experience Leo Exter, founder @ westartup
- 2. Copyright clearance € 20,000,000,000 market € 7,500,000 investment 23 employees
- 3. Sold for € 300,000. But there IS a better way.
- 4. 4 Link
- 5. Three trends behind Lean Startup Technology commoditization Agile software development Customer development Link: Eric Ries, The Lean Startup
- 6. The consumer is not a moron, she is your wife. David Ogilvy
- 7. Most consumers can only chose from known options. They don’t imagine new things. That’s your job! Leo Exter
- 8. Insight into specific consumer needs
- 9. Start by doing research Link: speech by Manuel Rosso, CEO Food on the Table
- 10. Practical tip on research #1: observe behavior
- 11. Practical tip on research #2 Ask why 5 times. Find some truth every time. Act on every bit of truth!
- 12. Classic startup fallacy: “ship it and see what happens.” Eric Ries Trap I fell into… twice. Leo Exter Link: Eric Ries, A month is 15 weekends
- 13. 13 Let data influence ideas for next turn through loop Implement ideas in the best way possible. Measure what happened, as quickly as possible. Link: Eric Ries’s blog
- 14. Minimum Viable Product is… … that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. Link: Minimum Viable Product: a guide
- 15. Build a product that helps make decisions Choose the relevant key metric Actionable Quantifiable Conversion is a good one ;)
- 16. Practical tip on research #3 A/B testing
- 17. Or… do it backwards Start with a broken end-user process Fine-tune your solution on paper THEN develop code Link: speech by Manuel Rosso, CEO Food on the Table
- 18. Key term: PIVOT (rotate around an axis)
- 19. Change an element of your… Customer / problem /solution hypotheses business model Link: Eric Ries - Pivot, don't jump to a new vision
- 20. 3 kinds of pivots Segment pivot Solve similar problem for a different set of customers Customer problem pivot Solve different problem for the same customer segment Feature pivot Choose a feature that works well, and reorient the whole company around that
- 21. Link: speech by Drew Houston, CEO Dropbox
- 23. Link
- 24. The Good Book Link
- 26. Link: Brant Cooper – What is customer development
- 27. Thank you! Web: www.westartup.eu Email: leo.exter@westartup.eu Twitter: @westartup Facebook: www.facebook.com/westartup