cdi founder workshop session 8 - minimum viable concept
TRANSCRIPT
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MINIMUM VIABLE CONCEPT
WORKSHOP
@JeremiahGardner
gettalk.at/collaboratory
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@JeremiahGardner
We’ve advised the innovation practices of:
• Author, The Lean Brand
• Principal, Moves The Needle
• Startup Mentor, Investor & Advisor
• Co-founded deckhub.co & redbottle
Hello! 8
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ENTREPRENEURIAL SPIRITPart I
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SEARCHEXECUTE(known) (unknown)
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STARTUP NARRATIVE
got my logo & business cards this is gonna be huge! pitch, pitch, pitch
gotta hire that CTO
business plan of course I’m right
eureka! an idea grandma loved it
funding! success! success!
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REAL STARTUP JOURNEY
empathy wow, I understand
really!? another opportunity
nope! hit a wall
nope! hit a wall
learn more! iterate
big signal on the right path
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Confused about it’s product
Confused about it’s customers=Confused about how to make $
STARTUP
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Sees the world differently
Chooses to take action=Assumes they’re wrong
FOUNDER
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ENTREPRENEURIAL JOURNEYPart II
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FOUNDER METRICS
IT’S PERSONALWhat does success look like to you?
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FOUNDER MINDSET
ENTREPRENEURIALmindset founder
ENTREPRENEUR
addictSERIAL ENTREPRENEUR
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THREE E’S OF ENTREPRENEURSHIP
EMPATHYShifting your view to become customer-centric.
EXPERIMENTATIONGenerating new learning.
EVIDENCEMaking decisions based on what’s actually learned.
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UNCOMFORTABLY NARROWPart III
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FINDING YOUR MARKET
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Oculus @ Work An startup team gained 3 key insights through their customer interviews:
• People who work on distributed teams have a hard time collaborating
• Using analog tools is a struggle
• Pain was evident as a major lack of productivity
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CUSTOMER ZOOM EXAMPLE
unique attributes
part of a distributed
team
techie: other online collab tools (slack, webex, etc.)
works with analog tools
(stickies, sharpies, etc)
hangs out on techcrunch, lifehacker
setting up meeting with
team and trying to use
tools
has written articles on techcrunch about collab
Freddie Castle
behaviors
zoom
What’s his work environment like?Does he use online collaboration tools? Does he use offline tools?
How does he look for new tools?Always the guy to setup hangout and slack. How does he cope with the pain?
Picture NameJob Title (if applicable)
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wants to be more
productive as a team
meetings will be shorter and higher
impact
Execs will notice his leadership
no way to translate analog to
digital
high cost to physically be
with team
hates existing
conference calls /video
you’ll have productive
remote team meetings and build better
solutions faster
PROBLEM ZOOM EXAMPLE
desired outcomes
pains & problems
zoom
How will solving problem affect the life of customer?Is there a significant time or cost impact? Is there a bigger emotional or aspirational win?
What stops the customer from behaving differently now? What obstacles need to be overcome? What are limitations of workaround?
We promise “______” We hope the outcome will be “______”
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BRAINSTORMING RULES
Defer judgmentQuantity > Quality
Document everything One idea per Post-it
“What if?” / “And then…” The crazier the better
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GETTING TO MVP
MVP An MVP (Minimum Viable Product) is the first attempt to deliver the value you promise to your customers.
An MVP is a threshold, not just the first version of your product.
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IDENTIFYING ASSUMPTIONSPart IV
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assumptions
“Something taken for granted or accepted as true without proof”
• Opinions vs. Facts
• Say vs. Do
• Evidence vs. Ideas
(Hint: What you think is fact, is likely an assumption)
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SHARE OUT!Part V
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WHAT’S NEXT?Part V
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hypothesis If we do X, Y% of people will behave in way Z.
X = Business Activity
Y% = Target Metric
Z = Customers’ Behavior
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OPERATING IN THE UNKNOWN
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WHERE TO START?
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THANKS!
@JeremiahGardner
gettalk.at/collaboratory