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Running Lean - Dallas
The document discusses the concept of "Running Lean", which is a systematic process for iterating a startup's web application from the initial "Plan A" to a plan that works. It involves using techniques from Customer Development, Lean Startup, and Bootstrapping. The key aspects are validating problems and solutions with customers, achieving product/market fit through iterative releases, and optimizing for scale once fit is achieved. Progress is measured through validated learning loops involving hypotheses, experiments, qualitative/quantitative validation, dashboards, and communication of learnings. The overall goal is to iterate quickly from the initial plan to one that works through a continuous process of customer feedback and validation.
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Running Lean - Dallas
- 1. RUNNING LEAN A systematicprocess for iterating your web application from Plan A to a plan that works ASH MAURYA @ashmaurya http://www.ashmaurya.com Thursday, November 4, 2010
- 2. The sad statisticsof Plan A. Thursday, November 4, 2010
- 3.
- 4. 66% drastically change their originalplans Thursday, November 4, 2010
- 5. Not a betterPlan A. But a path to a plan that works. Thursday, November 4, 2010
- 6. Running Lean isa systematic process for iterating from Plan A to a plan that works. Thursday, November 4, 2010
- 7. Agenda 1. What isRunning Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
- 8. Agenda 1. What isRunning Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
- 9. About Me Thursday, November4, 2010
- 10. Practice Trumps Theory Thursday,November 4, 2010
- 11. What is RunningLean Customer Development + Lean Startup + Bootstrapping Thursday, November 4, 2010
- 12. Requirements ReleaseDevelopment QA CustomerDevelopment Thursday, November 4, 2010
- 13. Requirements ReleaseDevelopment QA Somelearning Customer Development Thursday, November 4, 2010
- 14. Requirements ReleaseDevelopment QA Somelearning Most learning happens here Customer Development Thursday, November 4, 2010
- 15. Requirements ReleaseDevelopment QA Somelearning Very little learning Most learning happens here Customer Development Thursday, November 4, 2010
- 16. A synthesis ofCustomer Development, Agile, and Lean Thinking. Lean Startup Thursday, November 4, 2010
- 17. Funding with customerrevenue. Bootstrapping Thursday, November 4, 2010
- 18. Startups that succeedare those that manage to iterate enough times before running out of resources. - Eric Ries Speed Thursday, November 4, 2010
- 19. Get out ofthe building. - Steve Blank Learning Thursday, November 4, 2010
- 20. Right Action, RightTime. - Bijoy Goswami Focus Thursday, November 4, 2010
- 21. Speed, Learning, Focus. Thursday,November 4, 2010
- 22. There are nosilver bullets Thursday, November 4, 2010
- 23. Agenda 1. What isRunning Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
- 24. 1. Document yourPlan A 2. Systematically Test your Plan A Thursday, November 4, 2010
- 25. There is an“I” in Vision Smart people can rationalize anything. Thursday, November 4, 2010
- 26. Business Model vsBusiness Plan Thursday, November 4, 2010
- 27. Business Model vsBusiness Plan A document investors make you write that they don’t read Thursday, November 4, 2010
- 28. Business Model vsBusiness Plan A single diagram of your business Thursday, November 4, 2010
- 29. Problem Top 3 problems Solution Top3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
- 30. The 3 Stagesof a Startup Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
- 31. Validate Problem/Solution Fit Problem/Solution Fit Product/Market Fit Scale DoI have a problem worth solving? Thursday, November 4, 2010
- 32. Problem Top 3 problems Solution Top3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
- 33. Achieve Product/Market Fit HaveI built something people want? Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
- 34. Requirements ReleaseDevelopment QA Somelearning Very little learning Most learning happens here Thursday, November 4, 2010
- 35.
- 36. Problem Top 3 problems Solution Top3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/ revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
- 37. Optimize for Scale Howdo I accelerate growth? Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
- 38. Problem Top 3 problems Solution Top3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
- 39. Before Product/Market Fit ValidatedLearning Pivots Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
- 40. After Product/Market Fit Growth Optimizations ValidatedLearning Pivots Problem/Solution Fit Product/Market Fit Scale Thursday, November 4, 2010
- 41. Agenda 1. What isRunning Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to define and measure progress? Thursday, November 4, 2010
- 42. Not just limitedto code Thursday, November 4, 2010
- 43. Speed, Learning, Focus. Thursday,November 4, 2010
- 44. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 45. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 46. Problem Top 3 problems Solution Top3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Thursday, November 4, 2010
- 47. Leap of Faith:Being known as an “expert” will drive early adopters Hypothesis: Blog post will drive >100 early sign-ups Thursday, November 4, 2010
- 48. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 49. Time is morevaluable than money. Thursday, November 4, 2010
- 50. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 51. Qualitative Quantitative Start hereVerify with data Thursday, November 4, 2010
- 52.
- 53. Words matter Images matter Thursday,November 4, 2010
- 54. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 55.
- 56.
- 57. How to builda validated learning loop 1. Formulate falsifiable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often Thursday, November 4, 2010
- 58. We thought (Hypotheses): OurCustomers told us (Insights): Next Steps (Future Experiments): 0 12.5 25 37.5 50 Jan Feb Mar Apr May June July $20K $15K $10K $5K $0 • Personal Authority would be a viable channel to early adopters • Customers would vote the problem as “must-have” • Customers would pay $49/mo • Most early adopters did come through blog and twitter • Customers voted #3 problem as “must- have”. Others as nice-to-have • $49/mo works for customers with early traction •Test MVP based on “must-have” problem •Test a “Free” model Results from last iteration Thursday, November 4, 2010
- 59. Not a betterPlan A. But a path to a plan that works. Thursday, November 4, 2010
- 60. Thanks! Ash Maurya twitter: ashmaurya blog:http://www.ashmaurya.com Running Lean - the book Systematically iterate your product from plan A to a plan that works http://www.RunningLeanHQ.com Thursday, November 4, 2010