This note its use to run 2 and half hour workshop for AIESEC fellows at USM, Penang.
The idea its to give the student a taste on how Lean Startup and Business Model Canvas work. The important of practising the method especially for tech startup.
2. What is “The Lean Startup”
THE MOVEMENT THAT IS TRANSFORMING HOW
NEW PRODUCTS ARE BUILT AND LAUNCHED
http://theleanstartup.com/
- transform & to suit local environment
- help in getting thing done
- most are focus in tech startup, but its a concept so can apply to other biz
- lean does not = cheap but cost effective and fast
4. Elevator Pitch
• Product name & nature of business
• The problem you are solving and solutions
• Existing traction, result and testimonial
• Company & team strong point
• Closing : what you need and why
5. Pitch Your Idea
1.Come to stage to pitch your idea
2.Duration is 1 min = 60 sec
3.Given group number & sticker note
4.Write down your brief idea and the team members you looking for
- to “buy” team members
- great team consist of mixture type of members background with same mindset & goal
- lean : get team members, not paid work
- recruitment : company biggest asset its the people
6. Solve the PROBLEM
1.Dengue Issue
2.Where I park my car?
3.What to eat for lunch?
4.What else?
- idea trigger
- brain storm for idea & suggestion
7. Business Model Canvas
The Business Model Canvas is a strategic management and entrepreneurial tool. It
allows you to describe, design, challenge, invent, and pivot your business model.
http://www.businessmodelgeneration.com/
- use the business modal canvas file
- fill up the file accordingly
- at every stage, will look back to the canvas so that you will not drive off the road (idea)
- but you can improve from time to time
8. MVP
minimum viable product (part one)
- idea illustration on paper/ model/ lego to show people
- on A4 paper, one side only, draw, visual and tell people your product
9. Market Validation
what you like, does not mean other will LIKE.
- to validate that other ppl & public will buy your idea
- show ppl your product and pitch your idea (the A4 paper)
- from the A4 paper, side 2, get people to sign up with their name & email address
10. MVP (part 2)
Launch your product in shortest time and min $$$ with the core
function only. Build fast, launch fast, fail fast.
• Decorative vs functionality
• Packaging vs usability
- min time and cost
- Team members and outsource
- free online tools available widely
12. Presentation Slide
Present your idea on stage with 3 slide only.
1.Slide One - Introduction, idea, problem
2.Slide Two - Your solution and how it work & features
3.Slide Three - Closing, why ppl must use/ buy your product
- each slide 1 min
- always keep in mind who is your target market
14. What Next?
• Launch your MVP
• Feedback from user/ public
• Improvement & Enhancement
• Re-launch & Marketing
• Growth Hack
15. The END?
- get each team members contact; email, FB, others
- continue work on existing project, join other project or build your own project
- Follow your heart