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The Lean Startup #leanstartup Eric Ries (@ericries) http://StartupLessonsLearned.com
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning Build – Measure - Learn Innovation Accounting
Lean Startup Principles Entrepreneurs are everywhere
What is a startup? ,[object Object]
Nothing to do with size of company, sector of the economy, or industry,[object Object]
STOPWASTINGPEOPLE’STIME
Most Startups Fail
Most Startups Fail
Most Startups Fail
Who to Blame ,[object Object],Study work to find the best way Management by exception Standardize work into tasks Compensate workers based on performance “In the past, the man was first. In the future, the system will be first.” (1911) Frederick Winslow Taylor (1856 – 1915)
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management
Entrepreneurship is management ,[object Object]
Traditional management practices fail- “general management” as taught to MBAs ,[object Object]
Not just for “two guys in a garage”,[object Object]
I’
The Pivot ,[object Object]
They started out as digital cash for PDAs, but evolved into online payments for eBay.
They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
They were shocked to discover their online games company was actually a photo-sharing site.
Pivot: change directions but stay grounded in what we’ve learned. ,[object Object]
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning
Traditional Product DevelopmentUnit of Progress: Advance to Next Stage Waterfall Requirements Specifications Design Problem: known Solution:known Implementation Verification Maintenance
Achieving Failure ,[object Object],On time? On budget? With high quality? With beautiful design? ,[object Object],[object Object]
Agile Product DevelopmentUnit of Progress: A line of Working Code “Product Owner” or in-house customer Problem: known Solution:unknown Kent Beck (still alive)
Lean StartupUnit of Progress: Validated Learning Steve Blank (still alive) Customer Development Hypotheses, Experiments, Insights Problem:unknown Data, Feedback, Insights Solution:unknown Agile Development
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning Build – Measure - Learn
Minimize TOTAL time through the loop
There’s much more… Build Faster Unit Tests Usability Tests Continuous Integration Incremental Deployment Free & Open-Source Cloud Computing Cluster Immune System Just-in-time Scalability Refactoring Developer Sandbox Minimum Viable Product Learn Faster Split Tests Customer Development Five Whys Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-functional Teams Semi-autonomous Teams Smoke Tests Measure Faster Funnel Analysis Cohort Analysis Net Promoter Score Search Engine Marketing Predictive Monitoring Measure Faster Split Tests Continuous Deployment Usability Tests Real-time Monitoring & Alerting Customer Liaison
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning Build – Measure - Learn Innovation Accounting
Innovation AccountingThe Three Learning Milestones Establish the baseline ,[object Object]
Measure how customers behave right nowTune the engine - Experiment to see if we can improve metrics from the baseline towards the ideal  Pivot or persevere - When experiments reach diminishing returns, it’s time to pivot.
Questions How do we know when to pivot? Vision or Strategy or Product? What should we measure? How do products grow? Are we creating value? What’s in the MVP? Can we go faster?
Thanks! ,[object Object]
Startup Lessons Learned Blog
http://StartupLessonsLearned.com
Getting in touch (#leanstartup)
http://twitter.com/ericries
eric@theleanstartup.com
Additional resources
NEW: http://theleanstartup.com
SLLCONF 2011: http://sllconf.comMay 23 in SF,[object Object]
Myth #1 Myth Lean means cheap. Lean startups try to spend as little money as possible. Truth The Lean Startup method is not about cost, it is about speed.
Myth #2 Myth The Lean Startup is only for Web 2.0/internet/consumer software companies. Truth The Lean Startup applies to all companies that face uncertainty about what customers will want.
Myth #3 Myth Lean Startups are small bootstrapped startups. Truth Lean Startups are ambitious and are able  to deploy large amounts of capital.
Myth #4 Myth Lean Startups replace vision with dataor customer feedback. Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning Build – Measure - Learn Innovation Accounting
Minimum Viable Product ,[object Object]
Allows us to achieve a big vision in small increments without going in circles
Requires a commitment to iteration
MVP is only for BIG VISION products; unnecessary for minimal products.,[object Object]
Continuous Deployment Principles Have every problem once Stop the line when anything fails Fast response over prevention
Continuous Deployment ,[object Object]
At IMVU time from check-in to production = 20 minutes
Tell a good change from a bad change (quickly)
Revert a bad change quickly
And “shut down the line”
Work in small batches
At IMVU, a large batch = 3 days worth of work
Break large projects down into small batches,[object Object]
Everyone has a complete sandbox

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Eric Ries - The Lean Startup - Google Tech Talk

Editor's Notes

  1. I’m not leaving you, I’m pivoting to another man
  2. Conference structure
  3. Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
  4. Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
  5. Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
  6. Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.
  7. I’m not leaving you, I’m pivoting to another man