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Starting Lean: How to Find Out 
If Your Idea Has Potential In 
Days Not Years 
October 2014 
Trevor Owens, Founder of QuickMVP and Lean Startup Machine
Follow Thue on Twi!er 
@ThueLMadsen #KISSwebinar
Trevor Owens - QuickMVP & Lean Startup Machine - @TO 
! 
Trevor is the Founder of QuickMVP, the Lean Startup 
Machine and the author of The Lean Enterprise. His work has 
been featured in numerous media outlets including Forbes, 
Fast Company, and Business Insider, among others. 
! 
QuickMVP uses a super simple technique to help you validate 
a new product or business idea in just 5 minutes. It's the only 
so"ware that combines a Landing Page Builder with a Google 
Ad Creator in one tool. 
! 
Lean Startup Machine is the world’s leading workshop on 
Lean Startup principles and has helped tens of thousands of 
startup founders and individuals from organizations 
including Google, Salesforce, News Corp, Intuit, and others, 
start thousands of new businesses across six continents.
Follow Trevor on Twi!er 
@TO #KISSwebinar
95% 
Source: Wall Street Journal, Sept 2012
180
1
Startups Are NOT 
Small Versions of Big 
Companies
The Startup Curve 
Before 
Startup 
Source: Paul Graham; avc.com 
Time 
Happiness
The Startup Curve 
Before 
Startup 
Source: Paul Graham; avc.com 
Time 
Happiness 
Initial 
Enthusiasm
The Startup Curve 
Before 
Startup 
Source: Paul Graham; avc.com 
Time 
Happiness 
Initial 
Enthusiasm 
Reality 
Sets In
The Startup Curve 
Before 
Startup 
Source: Paul Graham; avc.com 
Time 
Happiness 
Initial 
Enthusiasm 
Reality 
Sets In 
TROUGH OF 
SORROW 
Experimenting 
& Pivoting
The Startup Curve 
Before 
Startup 
Source: Paul Graham; avc.com 
Time 
Happiness 
Initial 
Enthusiasm 
Reality 
Sets In 
TROUGH OF 
SORROW 
Experimenting 
& Pivoting Starts 
Working
The Startup Curve 
Initial 
Enthusiasm 
Reality 
Sets In 
TROUGH OF 
SORROW 
Before 
Startup 
Scale 
Product/ 
Market Fit! 
Starts 
Working 
Experimenting 
& Pivoting Source: Paul Graham; avc.com 
Time 
Happiness
STARTUPS SEARCH
COMPANIES EXECUTE
A NEW MANAGEMENT
Principles of Lean Startup 
1 Minimum Viable Products 
2 Pivots 
3 Early Adopters
WATCH WEBINAR RECORDING NOW
1. Minimum Viable Products
2. Pivots
Famous Pivots
3. Early Adopters
Now for 
the good 
stuff…
EXPERIMENT = MVP 
1 Hypothesis 
2 Riskiest Assumption 
3 Method 
4 Success Criteria
1. Hypothesis 
“I BELIEVE customer 
HAS A PROBLEM 
WITH problem.”
2. Riskiest 
Assumption
3. Three 
Methods
Interview 
Pre-Sell 
Concierge
4. Success Criteria
Start Your Free KISSmetrics Trial 
LOG IN WITH GOOGLE
EXPERIMENT = MVP 
1 Hypothesis 
2 Riskiest Assumption 
3 Method 
4 Success Criteria
Free Download at 
Javelin.com
experiment. Experiments 
Customer 
Problem 
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result & 
Decision 
1 2 3 4 5 
Time Limit: 5 Min 
Time Limit: 5 Min 
OZVS]PUNTime Limit: 5 Min 
Time Limit: 10 Min 
Hypothesis: 
will result 
. 
Assumption: 
the least 
core to the 
VESPA 
BUYERS 
CRAIGSLIST 
RELYING 
ON OIL 
CARE 
ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING!
Problem 
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result  
Decision 
Learning 
Limit: 5 Min 
Limit: 10 Min 
result 
least 
to the 
is... 
# of 
strong 
customers. 
CARE ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING! 
0/20 INVALID 
! 
PIVOT! 
SKINNY TIE 
! 
BUYING 
LIFESTYLE
experiment. Experiments 
Customer 
Problem 
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result  
1 2 3 4 5 
Time Limit: 5 Min 
Time Limit: 5 Min 
Time Limit: 5 Min 
Time Limit: 10 Min 
Hypothesis: 
will result 
least 
VESPA 
BUYERS 
CRAIGSLIST 
RELYING 
ON OIL 
CARE 
ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING! 
DIFFICULT 
COMMUTE 
SEEING 
BENEFIT  
SAFETY 
ONE-PAGER 
+ TRIAL 
NO VESPA 
FRIENDS 
INTERVIEW 
8 / 10
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result  
Decision 
Learning 
Limit: 5 Min 
Limit: 10 Min 
result 
least 
to the 
is... 
of 
strong 
CARE ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING! 
0/20 INVALID 
! 
PIVOT! 
SKINNY TIE 
! 
BUYING 
LIFESTYLE 
NO VESPA 
FRIENDS 
INTERVIEW 
8 / 10 
5/10 INVALID 
! 
PIVOT! 
“SCOOTER 
PERSON” 
LIFESTYLE 
RISK
experiment. Experiments 
Customer 
Problem 
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result  
1 2 3 4 5 
Time Limit: 5 Min 
Time Limit: 5 Min 
Time Limit: 5 Min 
Time Limit: 10 Min 
Hypothesis: 
will result 
least 
core to the 
VESPA 
BUYERS 
CRAIGSLIST 
RELYING 
ON OIL 
CARE 
ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING! 
DIFFICULT 
COMMUTE 
SEEING 
BENEFIT  
SAFETY 
ONE-PAGER 
+ TRIAL 
NO VESPA 
FRIENDS 
INTERVIEW 
8 / 10 
DIFFICULT 
COMMUTE 
TOO 
EXPENSIVE 
IDENTITY 
RISK 
RENT VESPA 
BEFORE BUY 
PAY $250 / 
MONTH 
SELL 
15 EMAILS 2 
HOURS
Solution 
Riskiest 
Assumption 
Success 
Criterion 
Result  
Decision 
Learning 
5 Min 
10 Min 
result 
least 
the 
strong 
CARE ABOUT 
ENVIRON-MENT 
INTERVIEW 
5 / 20 
GET OUT OF THE BUILDING! 
0/20 INVALID 
! 
PIVOT! 
SKINNY TIE 
! 
BUYING 
LIFESTYLE 
NO VESPA 
FRIENDS 
INTERVIEW 
8 / 10 
5/10 INVALID 
! 
PIVOT! 
“SCOOTER 
PERSON” 
LIFESTYLE 
RISK 
PAY $250 / 
MONTH 
SELL 
15 EMAILS 2 
HOURS 
50 
VALID 
! 
PERSEVERE! 
ALL CAPS 
! 
JUMPING 
SEAT
RISKIEST ASSUMPTIONS 
1 Is there demand in other cities? 
2 Is there demand abroad? 
3 Are people satisfied with the method? 
4 Can we do workshops frequently enough?
KEY METRICS 
1 Pain 
2 Customer Acquisition Cost 
3 Margin / Virality 
44 Market Size
“I don’t look for five-foot 
fences to jump over, I look for 
one-foot fences to step over.” 
-Warren Buffet
RISKIEST ASSUMPTIONS 
1 Four Key Metrics? 
2 Will they launch a page? 
3 Will they place an ad? 
4 Can we acquire 500 paid users?
Questions? 
Trevor Owens 
Founder 
QuickMVP  Lean Startup Machine 
@TO 
Thue Madsen 
Marketing Associate 
KISSmetrics 
@ThueLMadsen
THANK YOU 
Trevor Owens 
Founder, QuickMVP  Lean Startup Machine

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Starting Lean: How to Find Out If Your Business Idea Has Potential In Days and Not Years

  • 1. Starting Lean: How to Find Out If Your Idea Has Potential In Days Not Years October 2014 Trevor Owens, Founder of QuickMVP and Lean Startup Machine
  • 2. Follow Thue on Twi!er @ThueLMadsen #KISSwebinar
  • 3. Trevor Owens - QuickMVP & Lean Startup Machine - @TO ! Trevor is the Founder of QuickMVP, the Lean Startup Machine and the author of The Lean Enterprise. His work has been featured in numerous media outlets including Forbes, Fast Company, and Business Insider, among others. ! QuickMVP uses a super simple technique to help you validate a new product or business idea in just 5 minutes. It's the only so"ware that combines a Landing Page Builder with a Google Ad Creator in one tool. ! Lean Startup Machine is the world’s leading workshop on Lean Startup principles and has helped tens of thousands of startup founders and individuals from organizations including Google, Salesforce, News Corp, Intuit, and others, start thousands of new businesses across six continents.
  • 4. Follow Trevor on Twi!er @TO #KISSwebinar
  • 5. 95% Source: Wall Street Journal, Sept 2012
  • 6. 180
  • 7. 1
  • 8.
  • 9. Startups Are NOT Small Versions of Big Companies
  • 10. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness
  • 11. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness Initial Enthusiasm
  • 12. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness Initial Enthusiasm Reality Sets In
  • 13. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness Initial Enthusiasm Reality Sets In TROUGH OF SORROW Experimenting & Pivoting
  • 14. The Startup Curve Before Startup Source: Paul Graham; avc.com Time Happiness Initial Enthusiasm Reality Sets In TROUGH OF SORROW Experimenting & Pivoting Starts Working
  • 15. The Startup Curve Initial Enthusiasm Reality Sets In TROUGH OF SORROW Before Startup Scale Product/ Market Fit! Starts Working Experimenting & Pivoting Source: Paul Graham; avc.com Time Happiness
  • 19. Principles of Lean Startup 1 Minimum Viable Products 2 Pivots 3 Early Adopters
  • 21. 1. Minimum Viable Products
  • 22.
  • 26. Now for the good stuff…
  • 27. EXPERIMENT = MVP 1 Hypothesis 2 Riskiest Assumption 3 Method 4 Success Criteria
  • 28. 1. Hypothesis “I BELIEVE customer HAS A PROBLEM WITH problem.”
  • 33. Start Your Free KISSmetrics Trial LOG IN WITH GOOGLE
  • 34. EXPERIMENT = MVP 1 Hypothesis 2 Riskiest Assumption 3 Method 4 Success Criteria
  • 35.
  • 36. Free Download at Javelin.com
  • 37. experiment. Experiments Customer Problem Solution Riskiest Assumption Success Criterion Result & Decision 1 2 3 4 5 Time Limit: 5 Min Time Limit: 5 Min OZVS]PUNTime Limit: 5 Min Time Limit: 10 Min Hypothesis: will result . Assumption: the least core to the VESPA BUYERS CRAIGSLIST RELYING ON OIL CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING!
  • 38.
  • 39. Problem Solution Riskiest Assumption Success Criterion Result Decision Learning Limit: 5 Min Limit: 10 Min result least to the is... # of strong customers. CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING! 0/20 INVALID ! PIVOT! SKINNY TIE ! BUYING LIFESTYLE
  • 40. experiment. Experiments Customer Problem Solution Riskiest Assumption Success Criterion Result 1 2 3 4 5 Time Limit: 5 Min Time Limit: 5 Min Time Limit: 5 Min Time Limit: 10 Min Hypothesis: will result least VESPA BUYERS CRAIGSLIST RELYING ON OIL CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING! DIFFICULT COMMUTE SEEING BENEFIT SAFETY ONE-PAGER + TRIAL NO VESPA FRIENDS INTERVIEW 8 / 10
  • 41.
  • 42. Solution Riskiest Assumption Success Criterion Result Decision Learning Limit: 5 Min Limit: 10 Min result least to the is... of strong CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING! 0/20 INVALID ! PIVOT! SKINNY TIE ! BUYING LIFESTYLE NO VESPA FRIENDS INTERVIEW 8 / 10 5/10 INVALID ! PIVOT! “SCOOTER PERSON” LIFESTYLE RISK
  • 43. experiment. Experiments Customer Problem Solution Riskiest Assumption Success Criterion Result 1 2 3 4 5 Time Limit: 5 Min Time Limit: 5 Min Time Limit: 5 Min Time Limit: 10 Min Hypothesis: will result least core to the VESPA BUYERS CRAIGSLIST RELYING ON OIL CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING! DIFFICULT COMMUTE SEEING BENEFIT SAFETY ONE-PAGER + TRIAL NO VESPA FRIENDS INTERVIEW 8 / 10 DIFFICULT COMMUTE TOO EXPENSIVE IDENTITY RISK RENT VESPA BEFORE BUY PAY $250 / MONTH SELL 15 EMAILS 2 HOURS
  • 44.
  • 45. Solution Riskiest Assumption Success Criterion Result Decision Learning 5 Min 10 Min result least the strong CARE ABOUT ENVIRON-MENT INTERVIEW 5 / 20 GET OUT OF THE BUILDING! 0/20 INVALID ! PIVOT! SKINNY TIE ! BUYING LIFESTYLE NO VESPA FRIENDS INTERVIEW 8 / 10 5/10 INVALID ! PIVOT! “SCOOTER PERSON” LIFESTYLE RISK PAY $250 / MONTH SELL 15 EMAILS 2 HOURS 50 VALID ! PERSEVERE! ALL CAPS ! JUMPING SEAT
  • 46.
  • 47.
  • 48. RISKIEST ASSUMPTIONS 1 Is there demand in other cities? 2 Is there demand abroad? 3 Are people satisfied with the method? 4 Can we do workshops frequently enough?
  • 49.
  • 50.
  • 51.
  • 52.
  • 53. KEY METRICS 1 Pain 2 Customer Acquisition Cost 3 Margin / Virality 44 Market Size
  • 54. “I don’t look for five-foot fences to jump over, I look for one-foot fences to step over.” -Warren Buffet
  • 55. RISKIEST ASSUMPTIONS 1 Four Key Metrics? 2 Will they launch a page? 3 Will they place an ad? 4 Can we acquire 500 paid users?
  • 56. Questions? Trevor Owens Founder QuickMVP Lean Startup Machine @TO Thue Madsen Marketing Associate KISSmetrics @ThueLMadsen
  • 57. THANK YOU Trevor Owens Founder, QuickMVP Lean Startup Machine