Download - Innovate Like A Startup
Innovate Like A Startup! Using the Lean Startup Methodology to ignite innovative projects
Coach Davender Gupta @coachdavender Startup-Académie www.startupacademie.com www.coachdavender.com 514-448-1894 / 418-948-1553 [email protected]
Business is evolving
© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved
The economy is evolving…
The rules of the market are evolving…
Consumers are evolving…
Options are evolving…
Expectations are evolving…
Business also needs to evolve
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Look at business from a new angle
© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved
Today’s successful businesses are
- personal - plugged-in - distinctive - agile
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People don’t care about
what you do. They care about
what you can do for them.
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MY Ideas Passions Needs Dreams Interests Desires
Resources
Ideas Passions Needs Dreams Interests Desires OF OTHERS
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PROFIT ZONE
NO MEANS
NO DEMAND NO ENERGY
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The Business Model
A business model describes how you:
• create,
• deliver, and
• harvest value.
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What’s a startup?
A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.
- Eric Ries
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What’s a startup?
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A startup is a project which has as goal the search for a duplicatable and scalable business model.
- Steve Blank
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GR
OW
TH
Is your solution the new standard for the market? Market Leader EF
FIC
IEN
CY
Can you deliver the solution efficiently and effectively? Capability Maturity Index V
ALI
DA
TIO
N
How much does the market want this solution? Product-Market Fit D
EFIN
ITIO
N
This idea solves what important problem for the client? Problem-Solution Fit ID
EA
Idea or concept
Startup Stages Of Growth
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The Startup Mindset
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Aims to solve an important problem for the user by creating an offer which generates a huge added value for all stakeholders, and with the goal to become the new standard for the market.
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The Huge Added Value
How does solving the problem change or improve the user’s quality of life?
Return On Use Does your solution offer enough added value to motivate the user
to take out their wallet?
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Is it worth it?
Is it a problem or opportunity
which justifies the investment of
millions of dollars and
thousands of hours of effort? © 2014 Davender Gupta - www.startupacademie.com –
All Rights Reserved 12
The Big, Hairy, Audacious Game
© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved
What you are passionate about
What you can be the best in the world at
What generates exponential
economic value
Your BIG, HAIRY AUDACIOUS GAME
Mission, Vision, Values
Live Your Full Potential Game-Changing Results
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Find the WOW!
Does it make a difference ? l Find the emotion
Does it go to the root of the problem ? l Find the transformation
Does it communicate what’s important to you? l Find the message
Does it evolve with people’s needs and wants? l Find the learning
Does it spark a community ? l Find a tribe
- Inspired by Tom Peters
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Game-changing results
The primary strategy of the startup is to provoke a disrupt which interrupts the status-quo to create a quantum change in added value
• The Innovator’s Dilemma
• Blue Ocean Strategy
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Discover the DISRUPT
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How do you change the rules of the competitive game?
The gold is in the DISRUPT.
The Four Disrupts
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Offer (What): l New offers (products or services) that did not exist up to now
(invention)
Process (How): l New products or methods that allow the offer to be produced
faster, cheaper, more durable, better quality (production)
Market (Who): l Opening a new market segment poorly served until now, by
making minor modifications to one’s product or service (marketing)
Value (Why): l Meeting a need that is valued by an existing market, but not
satisfactorily met by competing offers, and doing it better than the competition (positioning)
HYPOTHESIS
build
DELIVER
measure
METRICS
learn
Find the disrupt
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Hypothesis
Should we build this? Can we build a profitable
business model around this?
Value Hypothesis: l Test if the solution really solves the client’s problem
Growth Hypothesis: l Test how the client finds your solution and how much
they are committed to it
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The Pivot
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Changing the strategy, the business model, the solution or even the problem, to improve the value-added which is recognised and rewarded by the target customer.
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What Startups Do
The fundamental activity of startups:
• transform ideas into tests,
• measure how users respond,
• decide to continue or to pivot
until you can clearly identify who recognizes the value of what you offer and who are ready to commit.
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Validating the Idea
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« The problem is that startups fall in love with the solution too early.
They don't focus enough on the foundation of vision and strategy to make sure it connects to what people want and use. »
-- Ash Mauriya
Validating The Idea
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Everything which comes out of your brain is a HYPOTHESIS. You must VALIDATE every element through -
• Discovery (your own data) • Research (other people’s data) • Testing (simulation, MVP)
to discover the DISRUPT.
Discovering the Disrupt
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Discover
What you know
That you know (belief)
That you don’t know
(hypothesis)
What you don’t know
That you know
(intuition)
That you don’t know (discovery)
Startup Success Strategy
Ø Capture ideas
Ø Define hypothesis
Ø Validate hypothesis
Ø Select and refine the idea
Ø Execute strategically and tactically
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It’s all about speed
Accelerate the learning cycle
…to reduce the time between pivots
…to increase the impact of the offer and its chances of success
…until you run out of resources.
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« Search versus execution »
If your business model is unknown - that is, just a set of untested hypotheses – you are a startup searching for a repeatable business model.
Once your business model is known, you will be executing it. Search versus execution is what differentiates a new venture from an existing business startup.
- Steve Blank
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Time to make a dent in the world!
Unreasonable passion l You can’t sleep because
you’re so excited
Irresistable l Attracts people and resources
Audacious l Disciplined execution to deliver a positive
disrupt to the status quo
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Suggested reading
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Keep in touch!
www.startupacademie.com www.coachdavender.com
(Québec) 418 948-1553 (Montréal) 514 448-1894 [email protected]
© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved
Coach Davender Gupta, MSc
Venture Catalyst Accélérateur d’entrepreneuriat
Startup-Académie
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