Introduction to Lean Startup by Leo Exter

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Ideas from top minds in Lean Startup supported by our own experience. Key principles, recommended reading and practical tips.

Presentation prepared for the workshop Bootstrapping/Lean Startup workshop by westartup.

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Introduction to Lean Startup by Leo Exter

  1. 1. Lean StartupIdeas stolen from clever people, and a bit of my own experience<br />Leo Exter, founder @ westartup<br />
  2. 2. Copyright clearance<br />€ 20,000,000,000 market<br />€ 7,500,000 investment<br />23 employees<br />
  3. 3. Sold for<br />€ 300,000.<br />But there IS a better way.<br />
  4. 4. 4<br />Link<br />
  5. 5. Three trends behind Lean Startup<br />Technology commoditization<br />Agile software development <br />Customer development<br />Link: Eric Ries, The Lean Startup<br />
  6. 6. The consumer is not a moron, she is your wife.<br />David Ogilvy<br />
  7. 7. Most consumers can only chose from known options. They don’t imagine new things. <br />That’s your job! <br /> Leo Exter<br />
  8. 8. Insight into specific consumer needs<br />
  9. 9. Start by doing research<br />Link: speech by Manuel Rosso, CEO Food on the Table<br />
  10. 10. Practical tip on research #1: observe behavior<br />
  11. 11. Practical tip on research #2<br />Ask why 5 times.<br />Find some truth every time. <br />Act on every bit of truth! <br />
  12. 12. Classic startup fallacy: “ship it and see what happens.” Eric Ries<br />Trap I fell into… twice.<br /> Leo Exter<br />Link: Eric Ries, A month is 15 weekends<br />
  13. 13. 13<br />Let data influence ideas for next turn through loop<br />Implement ideas in the best way possible.<br />Measure what happened, as quickly as possible.<br />Link: Eric Ries’s blog<br />
  14. 14. Minimum Viable Product is…<br />… that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.<br />Link: Minimum Viable Product: a guide<br />
  15. 15. Build a product that helps make decisions<br />Choose the relevant key metric<br />Actionable<br />Quantifiable<br />Conversion is a good one ;)<br />
  16. 16. Practical tip on research #3 <br />A/B testing <br />
  17. 17. Or… do it backwards<br />Start with a broken end-user process<br />Fine-tune your solution on paper <br />THEN develop code<br />Link: speech by Manuel Rosso, CEO Food on the Table<br />
  18. 18. Key term: PIVOT (rotate around an axis)<br />
  19. 19. Change an element of your…<br />Customer / problem /solution hypotheses<br />business model <br />Link: Eric Ries - Pivot, don't jump to a new vision<br />
  20. 20. 3 kinds of pivots<br />Segment pivot<br /> Solve similar problem for a different set of customers<br />Customer problem pivot<br />Solve different problem for the same customer segment<br />Feature pivot<br />Choose a feature that works well, and reorient the whole company around that<br />
  21. 21. Link: speech by Drew Houston, CEO Dropbox<br />
  22. 22. Mandatory reading.<br />
  23. 23. Link<br />
  24. 24. The Good Book<br />Link<br />
  25. 25. Brent Cooper<br />Link<br />
  26. 26. Link: Brant Cooper – What is customer development<br />
  27. 27. Thank you!<br />Web: www.westartup.eu<br />Email:         leo.exter@westartup.eu<br />Twitter: @westartup<br />Facebook: www.facebook.com/westartup<br />

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