entrepreneurship in spain. the lean startup. business model canvas
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eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES @JaumeTeixi 13/07/2011 Entrepreneurship in Spain. Lean Startup. Business Model Canvas. Spanish Startup Ecosystem. Customer Development. Agile Software DevelopmentTRANSCRIPT
Entrepreneurshipin Spain
eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES
@JaumeTeixi
13/07/2011
Entrepreneurship in Spain
The Lean Startup
The Business Model Canvas
Spanish Startup Ecosystem
In Case You're Sleeping...
steveblank.comvlaskovits.commarket-by-numbers.comalexosterwalder.compeople.hec.unil.ch/ypigneurstartuplessonslearned.com
Entrepreneur
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!
...Until You Find Product/Market Fit
...Bounce Back!
...Without Running Out of Money
The Lean Startup
Test Your HypothesisLearn and Discovery
Low Burn by DesignCapital Efficiency
Minimum Viable ProductHypothesis Validation
Customer DevelopmentTime 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, ToolsCode First, Test Meanwhile and Document LaterMVP Minimum Viable ProductPivotingMetrics (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 CaseBuild Minimal FeaturesRelease and Listen to the UsersQuestion Your HypothesisIterate, 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 interestPeak of Inflated Expectations — over-enthusiasm and unrealistic expectationsTrough of Disillusionment — fail to meet expectations becomes unfashionableSlope 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
Hackerstate-of-the-art
technology
Leaderglobal expertise
in the field
Piratecheat it while you
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 modelInfrastructure
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.
OfferingValue 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."
CustomersCustomer 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.
FinancesCost 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 StartupAnd 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
Thank You!Questions?
eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES
@JaumeTeixi
13/07/2011