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eent   EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES




Entrepreneurship
     in Spain
                                           @JaumeTeixi

                                            13/07/2011
Entrepreneurship in Spain




The Lean Startup

The Business Model Canvas

Spanish Startup Ecosystem
In Case You're Sleeping...




steveblank.com
vlaskovits.com
market-by-numbers.com
alexosterwalder.com
people.hec.unil.ch/ypigneur
startuplessonslearned.com
Entrepreneur
The Lean Startup - Why?

assumptions
It’s Obvious that Everybody Wants It!
...Obviously with All this Features!
...and sure with this Pricing Model!

...discover too late that
there aren’t customers!
Value of The Idea = 0.00*
Validated Product has Value! > 0.00*
The Lean Startup - Path To Success




Fail, Iterate, Don’t Give Up!

...Until You Find Product/Market Fit

...Bounce Back!

...Without Running Out of Money
The Lean Startup

Test Your Hypothesis
 Learn and Discovery

Low Burn by Design
 Capital Efficiency

Minimum Viable Product
 Hypothesis Validation

Customer Development
 Time is Crucial
The Lean Startup

Agile Product Development

   in parallel with

Customer Development


The Loop: Build (code)
          Measure (data)
          Learn (ideas)
Agile Software Development


Use of Open Source Frameworks, Tools
Code First, Test Meanwhile and
Document Later
MVP Minimum Viable Product
Pivoting
Metrics (Actionable, not Vanity)
In Plan -> In Process -> Finished -> Validated
Customer Development


Search for a Business (iterate)
       Customer Discovery
              pivoting
       Customer Validation
Growth a Business (execution)
      Customer Creation
       Company Building
Pivoting



Focus Single Use Case
Build Minimal Features
Release and Listen to the Users
Question Your Hypothesis
Iterate, Often and Constantly
Metrics
The Lean Startup Loop
Crossing The Chasm




G. A. Moore: “to successfully cross the "chasm,"
including choosing a target market, understanding the
whole product concept, positioning the product,
building a marketing strategy, choosing the most
appropriate distribution channel and pricing”
Hype Cycle. Ready For Adoption ?




A hype cycle in Gartner's interpretation comprises five phases:
Technology Trigger — generates significant press and interest
Peak of Inflated Expectations — over-enthusiasm and unrealistic expectations
Trough of Disillusionment — fail to meet expectations becomes unfashionable
Slope of Enlightenment — understand the benefits and practical application
Plateau of Productivity — widely demonstrated and accepted

Gartner's 2010 Hype Cycle Special Report
The Lean Startup - Starting
It’s lonely at the top

Implementing vision takes time

“Focus on the problem. If you’re only excited about
the solution, you’ll lose interest when your solution
doesn’t fix the problem. ”
A. Wali, CTO of ModCloth

Find a Mentor

“If you’re not embarrassed when you ship your first
version you waited too long..”
M. Mullenweg, CEO & Founder of WordPress

J. Stump, Starting Your Startup
What The Pub Owner Told Me



Customer Service
   (Serve, then Talk)
Positive Attitude
   (Smile Always)
Customer Engagement
   (Facilitate Loyalty)
The Ideal Startup

Get to a funding hub
Recruit an exceptional team.
Build something that you are passionate and
knowledgeable about
Test it against customers
Get social and customer validation
Raise on at least one exceptional characteristic
PS - Assume fierce competition
N. Ravikant, Anatomy of a fundable startup
Focus 1) - Team




    Hacker                Leader             Pirate
state-of-the-art     global expertise   cheat it while you
  technology            in the field         build it
Focus 2) - Blue Ocean Strategy


“Illustrates the high growth and profits
an organization can generate by
creating new demand in an
uncontested market space”


W. Chan Kim, R. Mauborgne Blue Ocean Strategy:
How to Create Uncontested Market Space and
Make Competition Irrelevant
The Business Model Canvas



What is a Business Model ?

A business model describes the
rationale of how an organization
creates, delivers, and captures value

2009, A. Osterwalder, Yves Pigneur, Alan Smith et al.
The Business Model Canvas

Business model design template, for easily describe
their business model
Infrastructure
 Key Activities: The activities necessary to execute a company's business model.
 Key Resources: The resources that are necessary to create value for the customer.
 Partner Network: The business alliances which complement other aspects of the business model.

Offering
 Value Proposition: The products and services a business offers. Quoting Osterwalder (2004), a value
 proposition "is an overall view of .. products and services that together represent value for a specific
 customer segment. It describes the way a firm differentiates itself from its competitors and is the reason why
 customers buy from a certain firm and not from another."

Customers
 Customer Segments: The target audience for a business' products and services.
 Channels: The means by which a company delivers products and services to customers. This includes the
 company's marketing and distribution strategy.
 Customer Relationship: The links a company establishes between itself and its different customer segments.
 The process of managing customer relationships is referred to as customer relationship management.

Finances
 Cost Structure: The monetary consequences of the means employed in the business model. A company's
 DOC.
 Revenue Streams: The way a company makes money through a variety of revenue flows. A company's
 income.
The Business Model Canvas
Lean Startup +Business Model Canvas


A Startup is a temporary
organization designed to search for
a repeatable and scalable business
model

Six Ways to Fail at a Startup
And How to Get it Right

Steve Blank, Barcelona, 15/06/2011
European Startups


“And yes, there are plenty of copycats, and
European startups do grow more slowly on
average than their US equivalents.

But there are also plenty of European startups that
are downright huge, and that lead the world in
innovation from a product, technology or business
model perspective as well as anyone out of Silicon
Valley.”
Pascal-Emmanuel Gobry, The 10 Biggest European Startups
Spanish Startup Ecosystem


“44% of young people see themselves becoming
entrepreneurs and running their own projects in the
future”

Tuenti Report (spanish)
en.forumimpulsa.org/2011/upload/article/informeimpulsatuenti.pdf


Venture Capital in Spain 2010 (spanish)
www.webcapitalriesgo.com/descargas/5404_05_11_199235071.pdf


Startups Investment Thermometer Spain 2011 (spanish)
www.readyforventures.com/wp-content/uploads/2011/05/Termometro-de-
la-inverson-en-Startups-en-Espana-2011.pdf
eent   EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES




          Thank You!
                  Questions?

                                           @JaumeTeixi

                                            13/07/2011

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Entrepreneurship in Spain. The Lean Startup. Business Model Canvas.

  • 1. eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES Entrepreneurship in Spain @JaumeTeixi 13/07/2011
  • 2. Entrepreneurship in Spain The Lean Startup The Business Model Canvas Spanish Startup Ecosystem
  • 3. In Case You're Sleeping... steveblank.com vlaskovits.com market-by-numbers.com alexosterwalder.com people.hec.unil.ch/ypigneur startuplessonslearned.com
  • 5. The Lean Startup - Why? assumptions It’s Obvious that Everybody Wants It! ...Obviously with All this Features! ...and sure with this Pricing Model! ...discover too late that there aren’t customers! Value of The Idea = 0.00* Validated Product has Value! > 0.00*
  • 6. The Lean Startup - Path To Success Fail, Iterate, Don’t Give Up! ...Until You Find Product/Market Fit ...Bounce Back! ...Without Running Out of Money
  • 7. The Lean Startup Test Your Hypothesis Learn and Discovery Low Burn by Design Capital Efficiency Minimum Viable Product Hypothesis Validation Customer Development Time is Crucial
  • 8. The Lean Startup Agile Product Development in parallel with Customer Development The Loop: Build (code) Measure (data) Learn (ideas)
  • 9. Agile Software Development Use of Open Source Frameworks, Tools Code First, Test Meanwhile and Document Later MVP Minimum Viable Product Pivoting Metrics (Actionable, not Vanity) In Plan -> In Process -> Finished -> Validated
  • 10. Customer Development Search for a Business (iterate) Customer Discovery pivoting Customer Validation Growth a Business (execution) Customer Creation Company Building
  • 11. Pivoting Focus Single Use Case Build Minimal Features Release and Listen to the Users Question Your Hypothesis Iterate, Often and Constantly
  • 14. Crossing The Chasm G. A. Moore: “to successfully cross the "chasm," including choosing a target market, understanding the whole product concept, positioning the product, building a marketing strategy, choosing the most appropriate distribution channel and pricing”
  • 15. Hype Cycle. Ready For Adoption ? A hype cycle in Gartner's interpretation comprises five phases: Technology Trigger — generates significant press and interest Peak of Inflated Expectations — over-enthusiasm and unrealistic expectations Trough of Disillusionment — fail to meet expectations becomes unfashionable Slope of Enlightenment — understand the benefits and practical application Plateau of Productivity — widely demonstrated and accepted Gartner's 2010 Hype Cycle Special Report
  • 16. The Lean Startup - Starting It’s lonely at the top Implementing vision takes time “Focus on the problem. If you’re only excited about the solution, you’ll lose interest when your solution doesn’t fix the problem. ” A. Wali, CTO of ModCloth Find a Mentor “If you’re not embarrassed when you ship your first version you waited too long..” M. Mullenweg, CEO & Founder of WordPress J. Stump, Starting Your Startup
  • 17. What The Pub Owner Told Me Customer Service (Serve, then Talk) Positive Attitude (Smile Always) Customer Engagement (Facilitate Loyalty)
  • 18. The Ideal Startup Get to a funding hub Recruit an exceptional team. Build something that you are passionate and knowledgeable about Test it against customers Get social and customer validation Raise on at least one exceptional characteristic PS - Assume fierce competition N. Ravikant, Anatomy of a fundable startup
  • 19. Focus 1) - Team Hacker Leader Pirate state-of-the-art global expertise cheat it while you technology in the field build it
  • 20. Focus 2) - Blue Ocean Strategy “Illustrates the high growth and profits an organization can generate by creating new demand in an uncontested market space” W. Chan Kim, R. Mauborgne Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
  • 21. The Business Model Canvas What is a Business Model ? A business model describes the rationale of how an organization creates, delivers, and captures value 2009, A. Osterwalder, Yves Pigneur, Alan Smith et al.
  • 22. The Business Model Canvas Business model design template, for easily describe their business model Infrastructure Key Activities: The activities necessary to execute a company's business model. Key Resources: The resources that are necessary to create value for the customer. Partner Network: The business alliances which complement other aspects of the business model. Offering Value Proposition: The products and services a business offers. Quoting Osterwalder (2004), a value proposition "is an overall view of .. products and services that together represent value for a specific customer segment. It describes the way a firm differentiates itself from its competitors and is the reason why customers buy from a certain firm and not from another." Customers Customer Segments: The target audience for a business' products and services. Channels: The means by which a company delivers products and services to customers. This includes the company's marketing and distribution strategy. Customer Relationship: The links a company establishes between itself and its different customer segments. The process of managing customer relationships is referred to as customer relationship management. Finances Cost Structure: The monetary consequences of the means employed in the business model. A company's DOC. Revenue Streams: The way a company makes money through a variety of revenue flows. A company's income.
  • 24. Lean Startup +Business Model Canvas A Startup is a temporary organization designed to search for a repeatable and scalable business model Six Ways to Fail at a Startup And How to Get it Right Steve Blank, Barcelona, 15/06/2011
  • 25. European Startups “And yes, there are plenty of copycats, and European startups do grow more slowly on average than their US equivalents. But there are also plenty of European startups that are downright huge, and that lead the world in innovation from a product, technology or business model perspective as well as anyone out of Silicon Valley.” Pascal-Emmanuel Gobry, The 10 Biggest European Startups
  • 26. Spanish Startup Ecosystem “44% of young people see themselves becoming entrepreneurs and running their own projects in the future” Tuenti Report (spanish) en.forumimpulsa.org/2011/upload/article/informeimpulsatuenti.pdf Venture Capital in Spain 2010 (spanish) www.webcapitalriesgo.com/descargas/5404_05_11_199235071.pdf Startups Investment Thermometer Spain 2011 (spanish) www.readyforventures.com/wp-content/uploads/2011/05/Termometro-de- la-inverson-en-Startups-en-Espana-2011.pdf
  • 27. eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES Thank You! Questions? @JaumeTeixi 13/07/2011