Uploaded byBryan Starbuck
Lean Startups - for UW MBA program
Bryan Starbuck is an experienced startup founder and CEO. He provides advice on lean startup techniques that focus on quickly validating assumptions and removing big risks early through cheap testing. This includes creating minimum viable products and pitch decks and getting feedback from customers, employees, advisors and investors to test plans before fully committing resources. The goal is to learn what works through short iterations rather than long development cycles.
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Lean Startups - for UW MBA program
- 1. April 30thth, 2015 LEANSTARTUP Techniques BryanStarbuck@gmail.com Applied to build a startup company Bryan Starbuck
- 2. TalentSpring Founder &CEO - Acquired in 2010 B2B Enterprise SaaS company with Artificial Intelligence / Machine Learning SPARKON Founder & CEO B2C Online learning & Passion Discovery Owner at WhiteHat Engineering: Our engineering team builds startup companies & products Bryan Starbuck STARTUPS & ENGINEERING BryanStarbuck@gmail.com
- 3. Remove big risksfirst Lean Startups is about removing big risks early • You can still shoot for the moon • But test cheaply & quickly ASSUMPTIONS
- 4. First, a story:Writing in space In the 1960s, NASA found that normal pens didn’t write in space. Over $1 million was spent to engineer a pen that can write in space.
- 5. You are assignedto fix this problem NASA assigns you as the project manager to solve this problem: Your task: How many months? Would take you to run a project to solve their problem (writing in space)
- 6. You are assignedto fix this problem NASA assigns you as the project manager to solve this problem: Your task: How many months? Would take you to run a project to solve their problem (writing in space) Your Answer: a) 12 months or longer b) 6 to 12 months c) 3 to 6 months d) 1 to 3 months e) Less than 1 month
- 7. Smart people leadto highly engineered solutions Great, smart and educated employees can create highly engineered solutions. Often is it better to… Save time with a simple solution, and redirect resources elsewhere
- 8. Principles of LEANSTARTUPS 1) Don’t over engineer 2) Validate plan early 3) Validate your assumptions Bryan’s recommendations on focus points of Learn Startups: 4) Quick validation passes 5) Short execution pushes (Learn, adjust, repeat) 6) Metrics to focus on what is important
- 9. Validate by Pitch-Deck ForcePlanning in all Critical Areas Brief enough for feedback from Customers, Employees, Advisors, Investors, etc.
- 10. Do a pushto: 1) Validate with 15+ target customers 2) Within 5 days 3) Focus on “ON TARGET” matches instead people close to you Validate with TARGET Customers 2) Validate plan early 3) Validate your assumptions CUSTOMER Validation
- 11. 1) Validate with6+ target experts 2) Experience building businesses in this industry 3) Get people with experience marketing to ACQUIRE your types of target customers Validate with TARGET EXPERTS 2) Validate plan early 3) Validate your assumptions EXPERT Validation
- 12. A QUICK PUSHis often powerful: Quick validation passes 4) Quick validation passes 1) A guy created a dating startup 2) He had 8 friends over to his house 3) They posted on MechTurk. Asked for people with experiences dating to give them a call. For $20 4) All night, his friends talked to people on the phone 5) Validation done in 1 day
- 13. Steve Blank &VP of Marketing 4) Quick validation passes Steve Blank’s story as a as a new VP of Marketing
- 14. Marketing example ofLEAN process • You are a VP of Marketing • You hire a COLLEGE HIRE to your marketing team • Your company sells to consumers. • You will launch a new product that sells to businesses, in your industry • Your new marketing hire’s job is to build the marketing plan 4) Quick validation passes
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- 17. High Risk Balancing Low Risk Cheap validationMost important Metrics Connect to Reality
- 18. Professor of Pottery Aprofessor of Pottery has a new class. He divided the students into 2 teams.
- 19. Professor of Pottery TeamA: Their grade was on QUANTITY of art created. Team B: Their grade was on QUALITY. They can get an “A” by only creating one piece
- 20. Validating pottery 1) Createa landing page 2) Drive people to pay 3) Test pricing 4) Test conversion rates 5) Compare certain customers 6) Compare quickly
- 21. Principles of LEANSTARTUPS 1) Don’t over engineer 2) Validate plan early 3) Validate your assumptions Bryan’s recommendations on focus points of Learn Startups: 4) Quick validation passes 5) Short execution pushes (Learn, adjust, repeat) 6) Metrics to focus on what is important
- 22. KPIs Are you correctlypicking you KPIs?
- 23. Validating a Hotelon a Cliff 1) Create a landing page 2) Drive people to pay 3) Test pricing 4) Test conversion rates 5) Allow feedback 6) Zoom in on your target demographic
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- 25. BLOG: bryanstarbuck.typepad.com Next Stepsfor Learning (1 of 3) People often ask how to learn more. Here is the best way: ABSOLUTE Must Read Strategic Thinking or Execution Other Innovator’s Dilemma On Amazon By: Clayton Christensen Crossing the Chasm On Amazon By: Geoffrey Moore Blue Ocean Strategy On Amazon By: W. Kim Good to Great On Amazon By: Jim Collins Maverick On Amazon By: Ricardo Semier The Four Steps to the Epiphany On Amazon By: Steven Blank Inspiring Excellence On Amazon By: Michael Schutzler The Ten-Day MBA On Amazon By: Steven Silbiger Founders at Work On Amazon By: Jessica Livingston ABSOLUTE Must Read Venture Deals On Amazon By: Brad Feld Art of the Start On Amazon By: Guy Kawasaki The Lean Startup On Amazon By: Eric Ries
- 26. BLOG: bryanstarbuck.typepad.com Next Stepsfor Learning (2 of 3) People often ask how to learn more. Here is the best way: Marketing The 22 Immutable Laws of Branding On Amazon By: Al Ries Full Frontal PR On Amazon By: Richard Laermer Positioning: The Battle for your Mind On Amazon By: Jack Trout The Strategy and Tactics of Pricing On Amazon By: John Hogan Purple Cow On Amazon By: Seth Godin Other Founders at Work On Amazon By: Jessica Livingston Startup Weekend On Amazon By: Marc Nager Don’t Make Me Think On Amazon By: Steve Krug ABSOLUTE Must Read
- 27. BLOG: bryanstarbuck.typepad.com More Learning(3 of 3) (My) Bryan Starbuck’s Blog on Company Building: http://bit.ly/StarbuckBlog Dave McClure – Marketing Model for Startups: http://500hats.typepad.com/500blogs/2007/06/internet-market.html http://vimeo.com/26277733 http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version http://www.slideshare.net/dmc500hats/startup-metrics-101-367863 More from Dave McClure: http://www.slideshare.net/dmc500hats/why-not-to-do-a-startup http://www.slideshare.net/dmc500hats/do-marketing-its-not-evil Presenting to Investors: http://www.slideshare.net/dmc500hats/how-to-pitch-a-vc-aka-startup-viagra-how-to-give-a-vc-a-hardon Strategic economics of SaaS https://salesforce.adobeconnect.com/_a13852757/buildingasuccessfulsaasco/ Startup Marketing: http://howtolaunchastartup.com/2011/06/20/21-must-read-resources-for-start-up-marketing/ 57 Things I’ve Learned Founding 3 Tech Startups: http://betashop.com/post/1417413108/57-things-ive-learned-founding-3-tech-companies ABSOLUTE Must Read
- 28. Remove big risksfirst Lean Startups is about removing big risks early • You can still shoot for the moon • But test cheaply & quickly ASSUMPTIONS
- 29. The New Modelfor Startups
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