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The Learning Startup introduction
- 1. the Learning Startup FromBusiness_Idea to Company_Creation building_blocks process
- 2. What and Who Timeto innovate ● At the convergence of the most recent developments on entrepreneurship such as the Lean Start-up concept, the Business Model framework and the Customer Development framework, the Learning Startup is an organisation running explicit learning processes to convert a Business Idea into a real business. Put your (money, time, resources) where your mouth is ● I created the Learning Startup project to experiment and learn around the Learning Startup concept, starting from the initial Business Idea of an online, freemium platform to support startups in their learning process of converting a business idea into a real business.
- 3. Inspiring Authors ● This course was inspired by the work of Steve Blank, Eric Ries and Alex Osterwalder ● Steve Blank is a retired serial entrepreneur with over 30 years of experience in high technology companies and management. He is a Consulting Professor at Stanford in the Graduate School of Engineering STVP Program and author of “Four Steps to the Epiphany” http://steveblank.com/ ● Eric Ries is the creator of the Lean Startup methodology and the author of the entrepreneurship blog “Startup Lessons Learned” http://www.startuplessonslearned.com/ ● Alex Osterwalder is an author, speaker and workshop facilitator on the topic of business model innovation. He is the author of “Business Model Generation” http://www.businessmodelgeneration.com/
- 4. Bibliography Books ● Steve Blank – Four Steps to the Epiphany ● Alex Osterwalder – Business Model Generation Blogs ● Steve Blank – Steve Blank – NOTE: start from “Customer Development Manifesto” tag ● Alex Osterwalder – Business Model Alchemist ● Eric Ries – Startup Lessons Learned Meta resources ● Steve Blank blog – Tools and Blogs for Entrepreneurs ● Andrew Chen blog – List of Essays ● Tom Eisenmann blog – Readings on Launching Tech Ventures ● Eric Ries blog – Recommended Reading ● Startup Lessons Learned – conference website sllconf.com ● Learning Startup blog – Channels Other Books ● Brant Cooper & Patrick Vlaskovits – The Entrepreneur’s Guide to Customer Development ● Jason Fried & David Heinemeier Hansson – Re-Work ● Eric Ries – The Lean Startup Book (Sep 2011) NOTE to find the online resources just google these terms
- 5. Biography Leonardo Zangrando hasa background in Mechanical Engineering and holds an MBA from IESE Business School. He has been consulting on sales effectiveness in the pharma sector for the past 10+ years. Since 2007 he reoriented his activity towards education and training. On a parallel track, he has been interested in business startups since the mid 90's and has worked on several projects in the initial transition from business idea to startup, with particular focus on bootstrapping (self-financing startups.) He is currently helping a number of startups in the transition process to a running business. Leonardo Zangrando key theme is resource-efficiency, in terms of increasing efficiency of processes, reducing waste of resources, and expressing full potential. He is fascinated by the evolutionary process of a startup, which transforms a business idea into a company and he is very keen on increasing entrepreneurs success rate by improving the entrepreneurial process' efficiency. He advocates the convergence of the most recent developments on entrepreneurship such as the Lean Startup concept, the Business Model framework and the Customer Development framework into the Learning Startup, an organisation running explicit learning processes to convert a business idea into a real business. He created the Learning Startup project to experiment and learn around the Learning Startup concept, starting from the initial Business Idea of an online, freemium platform to support startups in their learning process to convert a business idea into a real business.
- 6. the Learning Startup FromBusiness_Idea to Company_Creation building_blocks process
- 7. What is aStartup?
- 8. Business STARTUP Company Idea A temporary organisation to transform a Business Idea into a Company
- 9. What is aCompany?
- 10. A working definition Company An on-going organisation executing a plan trough systems and procedures
- 11. This section basedon the work of Steve Blank What is a Business Idea?
- 12. Business Market Type Idea ● Disruptive Innovation → create market Buyer value generated (willingness to pay) ● Sustaining Innovation Costs incurred → get market share ● Compete on – Cost Leadership – Differentiation Industry Successful Successful Competitor – Specialization average differentiated low-cost with dual competitor competitor competitor advantage
- 13. Business Industry Risk Idea Med Dev / Health Care Life Science / Biotech Technology Risk Personalized Medicine Cleantech Semiconductors Customer Consumer Electronics AND Game Software Technology Risk Communication Software Electronic Design Automation Communication Hardware Enterprise Hardware Customer Enterprise Software Risk Web 2.0
- 14. Business Size the Market Idea ● Total Available Market – How big is the universe Startup ● Served Available Market Target – How many can I reach with Market my sales channel Served Available ● Startup Target Market Market – who will be my most likely buyers Total Available Market
- 15. Business STARTUP Company Idea To qualify for becoming A temporary An on-going Startup, a Business Idea organisation organisation must have a Market. to transform executing a plan Activities will depend on Industry Risk and a Business Idea trough systems Type of Market. into a Company and procedures
- 16. A Business' BuildingBlocks
- 17. Let's find away to describe how a Business works ● What is a Business about? ● How does it do it?
- 18. Q. What isa Business about? A. Reach Customers and Deliver Value to them
- 19. CUSTOMERS / CUSTOMER SEGMENTS from “Business Model Generation” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl which customers and users are you serving? which jobs do they really want to get done?
- 20. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl do for them? do they care? what are you offering them? what does it VALUE PROPOSITION
- 21. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl CHANNELS through which interaction points? how does each customer segment want to be reached?
- 22. DEMAND CREATION / CUSTOMER RELATIONSHIPS from “Business Model Generation” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl what relationships are you establishing with each segment? personal? automated? acquisitive? retentive?
- 23. REVENUE STREAMS from “BusinessModel Generation” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl what are customers really willing to pay for? how? are you generating transactional or recurring revenues?
- 24. Q. How doesit do it? A. Using Key Resources to perform Key Activities (or have someone else do it)
- 25. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl which assets are essential? KEY RESOURCES which resources underpin your business model?
- 26. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl KEY ACTIVITIES business model? what is crucial? which activities do you need to perform well in your
- 27. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl KEY PARTNERS who do you need to rely on? which partners and suppliers leverage your model?
- 28. from “Business ModelGeneration” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl what is the resulting cost structure? COST STRUCTURE which key elements drive your costs?
- 29. key value demand creation / activities proposition customer relationships key customers / partners segments from “Business Model Generation” by Alex Osterwalder images by JAM Visual Thinking - www.jam-site.nl cost revenue structure key streams resources channels
- 30. The Business Modeldescribes the rationale of how an organisation... Creates Value Delivers Value Captures Value
- 31. What is aCompany then? Company KP KA VP DC CU KR CH An on-going CS RS organisation executing a + Business Model (through plans, EXECUTION systems, procedures)
- 32. What does astrtup do to transform a Business Idea into a Company?
- 33. Sketch out yourBusiness Model building building block block building block building building block block building block building block building building block block
- 34. But realise it'sjust a set of Hypotheses Hyp Hyp building building block block Hyp building Hyp Hyp block building building block block Hyp building block Hy p building block Hyp Hyp building building block block
- 35. STARTUP Company ● Test and refine the hypotheses until the entire Business Model is TESTED ● Make sure the Business Model is PROFITABLE ● Make sure the Business Model is REPEATABLE ● Make sure the Business Model is SCALABLE (not applicable to craftsmen and one-off projects)
- 36. STARTUP Company A temporary organisation searching for a tested, repeatable, and scalable Business Model
- 37. STARTUP Transition Company A temporary Building An on-going organisation the Systems organisation searching for a which implement executing a tested, repeatable, the Business Model Business Model and scalable (so far we were (through plans, Business Model in design mode) systems, procedures) SEARCH BUILD GROW
- 38. KP KA VP DC CU STARTUP Transition Company Business = = = Idea KR CH SEARCH BUILD GROW CS RS Business Modeling Product Alpha/Beta Launch / Concept Devel. Test 1st Shipm. Product Development Customer Customer Customer Company Discovery Validation Creation Building Customer Development Systems Development
- 39. More Startups failfrom a Lack of Customers than from a failure of Product Development Steve Blank Retired Entrepreneur Venture Capital advisor Stanford Professor of Entrepreneurship
- 40. the FACTS areout of the building
- 41. the Learning Startup FromBusiness_Idea to Company_Creation thank you! Leonardo Zangrando the Learning Startup leo@zangrando.com