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Oxygen lean methodology
- 1. @oxygenaccel www.oxygenaccelerator.com LEAN Simon Jenner CEO, Oxygen Accelerator @simonjenner
- 2. Not Lean I think the problem is X The solution looks like this: A website with social logon Location based HTML 5 mobile ready front end Cloud based, multi continent hosting for resilience Ability for users to like each others profiles Monetization via adverts We can launch in 6-9 months
- 3. YOU JUST CREATED A PRODUCT THAT NO ONE CAN USE OR WANTS
- 4. In the beginning @oxygenaccel www.oxygenaccelerator.com Lean manufacturing - Toyota 2011
- 5. How to drive a startup @oxygenaccel www.oxygenaccelerator.com Product Optimization Strategy Vision & Iteration Pivot True North
- 6. STRATEGY IS BASED ON ASSUMPTIONS Customers will come back to the app daily @oxygenaccel www.oxygenaccelerator.com Customers can be acquired for $1 Customers will use a mobile app Each customer will invite 0.5 other customers Customers wants to do X We can build it in 3-months Advertisers will pay $3 per customer There are 100,000 early adopters We will attract customers via social media
- 7. LEAP of FAITHs @oxygenaccel www.oxygenaccelerator.com Some assumptions are Leaps of Faith iPod -People want to listen to music on the move -People will pay for music
- 8. KEY ASSUMPTION @oxygenaccel www.oxygenaccelerator.com Value creation Growth
- 9. BUILD, MEASURE, LEARN IDEAS LEARN BUILD DATA PRODUCT @oxygenaccel www.oxygenaccelerator.com MEASURE
- 10. BUILD Build a key assumptions solving Minimum Viable Product (MVP) @oxygenaccel www.oxygenaccelerator.com
- 11. MEASURE Must be real data What to measure – everything AARRR – Pirate metrics @oxygenaccel www.oxygenaccelerator.com
- 12. LEARN Test data with customers Must impact business results @oxygenaccel www.oxygenaccelerator.com
- 13. CYCLE FAST IDEAS LEARN BUILD DATA PRODUCT @oxygenaccel www.oxygenaccelerator.com MEASURE
- 14. PIVOT or PERSEVERE Get enough data then make Data based decisions Customer based decisions @oxygenaccel www.oxygenaccelerator.com
- 15. PIVOTS @oxygenaccel www.oxygenaccelerator.com - Zoom in pivot –more niche - Zoom out pivot – less niche - Customer segment pivot - Customer need pivot - Technology pivot - Business model pivot - Channel pivot
- 16. PIVOT sortedlocal.com @oxygenaccel www.oxygenaccelerator.com An unskilled tasks market place Assumptions -People wanted unskilled tasks doing (customers) -People wanted unskilled per hour work (sorters) -Attracting sorters was going to be difficult -Customers will want to use mobile
- 17. PIVOT sortedlocal.com @oxygenaccel www.oxygenaccelerator.com An unskilled tasks market place MVP -Customer task led mobile app - Customer creates profile & then task “I need a cleaner on Friday at 4pm to clean my flat” - Sorters respond via messaging system saying they will do it & their price per hour - Customer selects a Sorter & pays
- 18. PIVOT Data 1st Month -1st task posted was an advert not a task -600 Sorters signed up -20 Customers signed up -60% bounce rate on website -Zero tasks completed -Customers saying to many responses to task, takes to long to message each sorter, trust issues with sorters sortedlocal.com @oxygenaccel www.oxygenaccelerator.com An unskilled tasks market place
- 19. PIVOT sortedlocal.com Pivot – Live for 2 weeks -Sorter led task market place -Each sorter has a profile -Customer searches by task & location (i.e. cleaning) -Customer selects Sorter from a list of profiles @oxygenaccel www.oxygenaccelerator.com An unskilled tasks market place
- 20. PIVOT sortedlocal.com @oxygenaccel www.oxygenaccelerator.com An unskilled tasks market place Data – 2 weeks old -2000 customers signed up -31 tasks posted -5% bounce rate on website -Zero tasks completed (via site) -Transactions are being taken off-line -150+ clicks on Book now button on Sorter profile
- 21. GROWTH ENGINES @oxygenaccel www.oxygenaccelerator.com -Sticky Engine -Viral Engine -Paid Engine
- 23. ASSUMPTION CANVAS @oxygenaccel www.oxygenaccelerator.com Assumptions Tests (Build)
- 24. BUILD, MEASURE, LEARN CANVAS Build Measure Learn @oxygenaccel www.oxygenaccelerator.com Planned Actual
- 25. @oxygenaccel www.oxygenaccelerator.com CONTACT Simon Jenner simon@oxygenaccelerator.com @simonjenner
Editor's Notes
- Lets start with a picture which is not lean
- LEAN startup reduces the input required. It allows you to fail faster having spent less money and wasted less time
- There are two key assumptions you will have made. One is around the value proposition – your product is wanted by the customer.
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this
- You must collect hard data (downloads, unique visitors, dwell time, signup rate etc). Use the data to ask intelligent questions of customers for a subjective view on your data – this may answer the why question All data must be put in context of business results – does this data help us prove we can make money out of this