• Class introduction • Weekly class scheduling • Division in teams • Effectuation • Work for next week

1. LLP@Tecnico
Class 0
Luis Caldas de Oliveira

2. Agenda for Class 0
• Class introduction
• Weekly class scheduling
• Division in teams
• Effectuation
• Work for next week

3. CLASS INTRODUCTION

4. Introduction
http://www.youtube.com/watch?v=VZvgj6B2JZs

5. No Business Plan
Survives First Contact
With A Customer

6. Strategy:
Business Model to
Operating Plan

7. LLP: Lean LaunchPad
• The Business Model Canvas
• Customer Development
• Agile Development

8. The Business Model
Canvas

9. BMC video
http://www.youtube.com/watch?v=QoAOzMTLP5s

10. Customer
Development

11. Agile Development

12. LLP: Lean LaunchPad
The goal of the Lean LaunchPad is to impart an
evidence-based methodology for scalable
startups that students can use for the rest of
their careers.

13. Experiential Learning
• The Flipped Classroom
• Team Teaching: Students up Front

14. Where is it Used?
• Stanford University: Stanford Technology
Ventures Program
• UC Berkeley: Haas Business School
• NSF: Innovation Corps classes
• Columbia Business School
• many others...

15. Examples
• Speedmeet:
http://www.slideshare.net/sblank/trust-
score-final-2013-berkeley-video
• Autonomow:
http://www.slideshare.net/sblank/autonomo
w-e245-final-presentation

16. LLP@Tecnico
• Experimental implementation in 2013/14
• Special track of an already established
course on entrepreneurship
• Students work in teams of 4 to 6 students
• Teams work in a cohort of up to 5 teams

17. LLP@Tecnico
Examples
• Hi!Fidelity Loyalty Program:
https://youtu.be/X-AtxmXHL-
8?list=PLFNqvUqW2S2Xp7RIta1udC-
R90aFniqt4
• SwimPro Promotional Video
https://youtu.be/3vcQ4fAhwBw?list=PLFNq
vUqW2S2W_4fZ8itMm_vxodokR6att

20. Warning
This course pushes many people past their comfort zone.

21. Conditions to Attend
• Learn and apply Business Model Canvas for a
product or a service
• Be willing to accept the flipped classroom model
by following Steve Blank’s course on Udacity
• Be willing to complete 10 in person or skype
interviews per week
• Be willing to develop prototypes (teams must have
domain experts)
• Accept that all information presented in the class
will be shared with the world

22. Instructors
• Prof. Luis Caldas de Oliveira
(lco@tecnico.ulisboa.pt)
• Prof. Miguel Amaral
(miguel.amaral@tecnico.ulisboa.pt)
• Diogo Henriques
(carlos.diogo@tecnico.ulisboa.pt)

23. Key Concepts
• Students are experts in their fields
• Advisors are technical consultants
• Mentors are business counselors
• Instructors are experts in the LLP model

24. Key Points
• Evidence-based entrepreneurship (not
“faith-based”)
• Students need to “get out of the building”
• Time management: intense and fast
• Community: every class member must
actively comment the other teams

25. Syllabus
• A 3 hour class per week
• Each team must prepare a 10 min
presentation per week
• Office hours: 20 min/team every 2 weeks

26. Mandatory Office Hours with Partners, a Mentor dedicated to team, uses LPC for review,
Advisors as domain experts
Lean LaunchPad
1 week before
Mentorship
Product Continual Revisions to MVP based on Customer Discovery
Customer
Discovery
Team presents weekly in front of cohort, formal curriculum,
Optional: Office space, weekly dinners w/guest speakers
10-15 customer interviews/week, present results in front of peers
Framing
Hypotheses
Education /
Community
Application by BMC, Initial Canvas, Updated Weekly Canvases
Lessons Learned
What we thought, what we did, what we found, what’s next.

27. Class Plan
Class 3Class 2
Class 4
Class 5
Class 6
Class 7
Class 8

28. Before Each Class
• Talk to 10 customers about lecture (n-2)
• Update narrative and canvas (n-2)
• Revise MVP based on findings about (n-2)
• Prepare presentation with findings about (n-2)
• Formulate hypotheses about (n-1)
• Prepare interviews about (n-1)
• Talk to mentors and advisors
• Watch Udacity lecture (n)

29. In Class
• Q&A about lecture (n-1)
• Team present findings about (n-2)
• Summary of lecture (n)

30. Grading
• 15% for individual participation
• 40% for Out-of-the-building Customer
Discovery progress
• 20% Team weekly presentation
• 25% Team final presentation

31. References
• Business Model Generation, Osterwalder &
Pigneur
http://www.businessmodelgeneration.com/d
ownloads/businessmodelgeneration_previe
w.pdf
• The Startup Owner’s Manual, Blank & Dorf
• How To Build a Startup – Udacity
https://www.udacity.com/course/ep245

32. WEEKLY CLASS SCHEDULING

33. Weekly Class
• 3 hours preferably starting at 5 PM
• All teams must be present
• Some members maybe away for part of the
class
• All members must present during team
presentation

34. DIVISION IN TEAMS

35. Teams
• LLP objective is to simulate the challenges
of creating a business in “real life”
• Teams should be as diverse as possible
• Students need to be trained in handling the
challenges of professional teamwork

36. EFFECTUATION
How do entrepreneurs decide and act?

37. Research Experiment

38. Result: Effectuation

39. 5 Principles of
Effectuation

40. Bird-in-hand
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

41. Affordable Loss
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

42. Lemonade
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

43. Patchwork Quilt
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

44. Pilot-in-the-plane
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

45. The Effectual Cycle
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

46. The Cycle Starts Here
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

47. Then Interact With
People
What is effectuation?Version 0.9. Copyright © 2011 The Rector andVisitors of the University ofVirginia

48. NEXT WEEK

49. Before Next Class
• Arrange a meeting with your team
• Find your team’s “Birds-in-Hand” and goals
• Find and interact with people that can help
your team
• Watch Videos
• TEDxMidAtlantic 2010 Saras Sarasvathy
• Lecture 1: What We Now Know
• Lecture 1.5: Business Models and Customer
Development

50. Slides
• Slide 1: Cover slide
• Slide 2: Present your team
• Slide 3: Present your team’s Birds-in-Hand
• Slide 4: Present your team’s initial goals
• Slide 5: Present and report interactions with stakeholders

51. Obrigado