The document introduces the Lean Startup approach to entrepreneurship founded by Eric Ries. It is based on lean manufacturing principles of building products, measuring customer feedback, and learning quickly through iterative changes. The Lean Startup methodology advocates developing a Minimum Viable Product to test hypotheses and validate learning, rather than relying on comprehensive business plans. It emphasizes rapid iteration through a feedback loop of building, measuring, and learning from customer data.

1. Introduction: The Lean Startup* Approach to
Entrepreneurship
* The “Lean Startup” is a concept founded by Eric Ries.

2. While Management Science Has Come a Long Way Over The Past
Century…
2
@KenGloberman

3. …We’re Currently in the Midst of a Startup Revolution
3
@KenGloberman

4. Does Traditional Planning Methodology Apply to Today’s
Startup Eco-system?
4
Comprehensive
Business Plan
@KenGloberman
Detailed
Strategy
Thorough
Market
Research

5. In 2011, Along Came a New Approach To Managing Startups
5
@KenGloberman

6. “Lean Startup” is grounded in the principals of “lean
manufacturing”, or “lean production”, first adopted at Japan’s
Toyota (Toyota’s Production System)
6
@KenGloberman

7. The 5 Principles of Lean Startup
7
1. Entrepreneurs are everywhere
2. Entrepreneurship is management
@KenGloberman
3. Validated learning
4. Build – Measure – Learn
5. Innovation accounting
Source: The Lean Startup, Eric Ries, 2011

8. The Foundation of Lean Startup
8
PRODUCT
STRATEGY
VISION
Source: The Lean Startup, Eric Ries, 2011
@KenGloberman

9. Why Most Startups Fail (Just one man’s opinion)
9
Inability to manage through
uncertainty, usually requiring a
comfort level with
adaptation and change.
@KenGloberman

10. The Foundation of Lean Startup
10
PRODUCT
STRATEGY
VISION
@KenGloberman
CHANGE
Optimize
Pivot
(or persevere)
Source: The Lean Startup, Eric Ries, 2011

11. The Lean Startup Feedback Loop
11
MEASURE
@KenGloberman
BUILD
PRODUCT
LEARN
DATA
Source: The Lean Startup, Eric Ries, 2011
IDEAS
Increase iteration
frequency and
minimize total time
through the loop

12. A Minimum Viable Product (MVP) enables you to go to market
with a “light” offering (experiment) you believe solves a customer
problem, and learn as quickly as possible
12
MINIMUM VIABLE
@KenGloberman
Products you
want to build
Crappy
Products
nobody wants
Good features to test user
response
PRODUCTS

13. 13
@KenGloberman
An MVP is NOT…
• A “valueless” offering
• A shitty product
• An offering that does not work
• A free trial
• An offering that cannot be measured
• A poor quality service
• An experiment lacking discipline
• Something your customers surely won’t want to pay for
13

14. Challenge: Can You Apply the Lean Startup Philosophy to Your
Startup?
14
PRODUCT
STRATEGY
VISION
Source: The Lean Startup, Eric Ries, 2011
@KenGloberman

15. Continue The Discussion By Contacting Me
Ken Globerman
Twitter: @KenGloberman
Email: Ken.Globerman@GlobalGroupVentures.com
LinkedIn: http://www.linkedin.com/in/kengloberman

16. 16
Ken Globerman is an investment professional, independent consultant and
educator specializing in corporate finance, business development and private
equity issues. He splits his time between New York, NY and Warsaw,
Poland, where he founded Global Group Ventures to help bridge economic
development between the United States and Central Europe. Ken also
lectures at Warsaw School of Economics in business valuation, conducts
workshops in finance and leadership and is a frequent speaker at programs
supporting entrepreneurship and innovation around Europe. He has been
published in the Warsaw Business Journal and American Investor as a
featured expert in business and finance.
Previously, Ken worked for New York-based private equity firm Knox
Lawrence International, LLC and WPP’s media subsidiary MEC (formerly
Young & Rubicam) where he managed research and planning projects for
Fortune 500 clients.
Ken holds an MBA in Finance & Entrepreneurship from New York
University’s Stern School of Business, where he served as Equity Valuation
Teaching Assistant to Professor Aswath Damodaran, and Bachelor of
Science in Applied Mathematics from Carnegie Mellon University.
@KenGloberman
About The Author