introduction to lean startup » lean startup barcelona

Lean StartupIntroduction

@JaumeTeixiBarcelona

29/03/2012

Lean Startup BCN :: Inaugural Meeting

Entrepreneur

The Business Model Canvas

Startup

A startup is an organization formed to search for a repeatable and scalable business model.

2010, Steve Blank

A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

2010, Eric Ries

Customer Development

Test the founders hypothesis about the customer problem

Test if the product concept and minimum feature set solve that problem

Steve Blank

Lean Startup

The use of platforms enabled by Open Source and Free Software

The application of Agile Development Methodologies

Ferocious customer-centric Rapid Iteration, as exemplified by the Customer Development process.

2008, Eric Ries

#lsbcn

The Lean Startup - Why?

assumptionsIt’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, but Learn !

Bounce Back ...Until You Find Product/Market Fit

...Without Running Out of Money

The Lean Startup

The Lean Startup

Product Development Team Tackles the Solution

in parallel with

Customer Development Team Testing The Problem-Customer-Solution Assumptions

Agile Software Development

Use of Open Source Frameworks, Tools

Code, Test Permanently->Continuous DeploymentDocument Meanwhile

Kanban BoardBacklog -> In Process -> Finished -> VALIDATED

blossom.io kanbanery.com

Customer Development

1) Search for a Business (iterate) Customer Discovery pivoting Customer Validation

2) Growth a Business (execution) Customer Creation

Company Building

The Lean Startup Loop

MVP Minimum Viable Product

Ask Minimal Required Needs toPotential Customers/Early Evangelists

Collect the maximum amount of validated learning about customers with the least effort

1) What are you trying to Learn? 2) With which Data? 3) What Measures Success/Failure?

Metrics

Vanity Metrics vs Actionable Accessible Auditable

Pivot Or Persevere

Your Idea is Probably Wrong

A Pivot is a special kind of change designed to test a new fundamental hypothesis about the product, business model, and engine of growth

Nintendo ~ From Hanafuda CardsPayPal ~ From Palm Money WalletFlickr ~ From MMO

Lean Startup 5 Principles

Lean Startup 5 Principles

1 Entrepreneurs Are Everywhere

The goal is NOT to optimize for profit, margin, or growth.

The goal is that any change that accelerates learning is a win, and everything else is waste.

Lean Startup 5 Principles

2 Entrepreneurship is Management

A set of management principles that seek to test assumptions and eliminate unknowns.

By talking to customers… By building simple products… By measuring the effect of our work...

Lean Startup 5 Principles

3 Validated Learning

Constantly experimenting with new product features and product marketing to increase the yield on each new crop of customers they bring in.

Learn what works and what doesn't.

Lean Startup Principles

4 Innovation Accounting

1) Use a minimal viable product MVP

2) From the Baseline to the Ideal

3) Persevere or Pivot

Lean Startup 5 Principles

5 Build-Measure-Learn

Ideas -> Code -> Data

theleanstartup.com/principles

Lean Startup Top 5 Myths

Lean Startup Top 5 Myths

Myth 1 Lean means cheap. Lean startups try to spend as little money as possible.

The Lean Startup method is not about cost, it is about speed.

Lean Startup Top 5 Myths

Myth 2 The Lean Startup methodology is only for Web 2.0, Internet and consumer software companies.

The Lean Startup methodology applies to all companies that face uncertainty about what customers will want.

Lean Startup Top 5 Myths

Myth 3 Lean Startups are bootstrapped startups.

What differentiates them is their disciplined approach to determining when to spend money.

Lean Startup Top 5 Myths

Myth 4 Lean Startups are very small companies

Established companies have as much to gain from lean startup techniques as the mythical “two guys in a garage”

Lean Startup Top 5 Myths

Myth 5 Lean Startups replace vision with data or customer feedback

Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality.

http://reut.rs/GXW3Vd

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In Case You're Sleeping...

Steve Blank steveblank.com

Eric Ries startuplessonslearned.com

Thank You!

@JaumeTeixiBarcelona

29/03/2012

Lean Startup BCN :: Inaugural Meeting