experiment board - lean startup machine
TRANSCRIPT
Lean Startuphttp://goo.gl/lCJ0mm
Lorenzo Dee
VP of Consulting, O&B
October 2014 Learning Session
Things we'll cover:
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What is a Startup?
What is Lean Startup?
What is the Lean Startup Machine?
Board
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Experiment
Steve Blank
The Startup Owner's Manual
Photo source: https://learni.st/boards/9484/learnings/73282-the-four-steps-to-the-epiphany-by-steve-blank
Paul Graham
Y-Combinator
Eric Ries
The Lean Startup
Speaking of extreme uncertainty...
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Do you understand what customers want from your business?
Do you understand why they choose you?
Do you understand why the like you?
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Kate Upton, Model
Existing New
Existing
New Here!
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Existing New Unknown
Existing
NewUnknown Here!
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Lean startup:
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is a method for developing businesses and products first proposed in 2011 byEric Ries
can shorten product development cycles by adopting a combination ofexperimentation, iterative product releases, and "validated learning"
http://en.wikipedia.org/wiki/Lean_startup
Lean Startup is a trademark owned by Eric Ries.
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#onblearningsession
Lean Startup is a trademark owned by Eric Ries.
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Eric RiesThe Lean Startup
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"Measure" nganaman!?!
a functioningproduct
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(Think: Minimum Viable Experiment)
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of all new products succeed
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http://fundersandfounders.com/will-i-succeed-with-my-startup-the-odds-of-making-it/
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About three-quarters of venture-backed firms in theU.S. don't return investors' capital, according to
recent research by Shikhar Ghosh, a senior lecturerat Harvard Business School
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WSJ Online: The Venture Capital Secret: 3 Out of 4 Start-Ups Fail
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If failure is defined as failing to see the projectedreturn on investment—say, a specific revenue growthrate or date to break even on cash flow—then more
than 95% of start-ups fail, based on Mr. Ghosh'sresearch.
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WSJ Online: The Venture Capital Secret: 3 Out of 4 Start-Ups Fail
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Intensive 3-day workshop where participants apply Lean Startup methodology tosolve real world problems.
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Lean Startup Machine is brought to you by Javelin.
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Turning your idea into an experiment:
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Form your customer/problem hypothesis.1.
Identify your riskiest assumption.2.
Set a success criteria.3.
Run the experiment (e.g. interview, pre-sell, concierge)4.
If experiment succeeded, then persevere (and repeat until assumptions havebeen validated)
5.
Otherwise, pivot (and repeat)6.
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Form your customer/problem hypothesis (or turn your idea to a hypothesis):
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Who is your customer?
What is the problem?
(Define the solution you have validated a problem worth solving)
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Case Study #1: Developer Skills
Case Study #2: Helping Dreamers
Case Study #3: Food-flavored Cigarettes
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Case Study #2: Helping Dreamers
Case Study #3: Food-flavored Cigarettes
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
Smallcompanies
TrainingDevelopers
Onlineplatform
for training
Pay to useplatform
80%
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
Smallcompanies
TrainingDevelopers
Onlineplatform
for training
Pay to useplatform
80%
6/10
Believe ininternallyselectedonline
training
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
Smallcompanies
TrainingDevelopers
Onlineplatform
for training
Pay to useplatform
80%
6/10
Believe ininternallyselectedonline
training
Smallcompanies
SelectingOnline
Training forDevelopers
Onlineplatform
forevaluating
MOOC
Pay to useplatform
80%
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
Smallcompanies
TrainingDevelopers
Onlineplatform
for training
Pay to useplatform
80%
6/10
Believe ininternallyselectedonline
training
Smallcompanies
SelectingOnline
Training forDevelopers
Onlineplatform
forevaluating
MOOC
Pay to useplatform
80%
5/6
Pain inverifying
skills
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Startups
SelectingSkilled
Developers
Ability toselect and
train
60%
5/5
Time isperceived
as problem
Smallcompanies
TrainingDevelopers
Onlineplatform
for training
Pay to useplatform
80%
6/10
Believe ininternallyselectedonline
training
Smallcompanies
SelectingOnline
Training forDevelopers
Onlineplatform
forevaluating
MOOC
Pay to useplatform
80%
5/6
Pain inverifying
skills
Smallcompanies
Verifyingdeveloper
skills
Onlineplatform
forverifying
skills
Use tests toverify skills
?
Case Study #1: Developer Skills
Case Study #3: Food-flavored Cigarettes
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
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Peoplehave
dreams
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
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Peoplehave
dreams
Employee(30-55) with
a dream
Caged indailywork
Notime/money
to livedream
Interview14/22
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
15/22
Peoplehave
dreams
Employee(30-55) with
a dream
Caged indailywork
Notime/money
to livedream
Interview14/22
15/22
Younger(20-55);dream
depends onlifetime/age
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
15/22
Peoplehave
dreams
Employee(30-55) with
a dream
Caged indailywork
Notime/money
to livedream
Interview14/22
15/22
Younger(20-55);dream
depends onlifetime/age
Employee(30-55) withexcess cash
? (missedproblem)
Crowdfundingplatform
for dreams
Willing tosponsordreams
Happyto find
one!
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
15/22
Peoplehave
dreams
Employee(30-55) with
a dream
Caged indailywork
Notime/money
to livedream
Interview14/22
15/22
Younger(20-55);dream
depends onlifetime/age
Employee(30-55) withexcess cash
? (missedproblem)
Crowdfundingplatform
for dreams
Willing tosponsordreams
Happyto find
one!
0/2
No uniquevalue
proposition;No pain
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Employee(30-55) with
a dream
Caged indailywork
Has adream
Interview21/30
15/22
Peoplehave
dreams
Employee(30-55) with
a dream
Caged indailywork
Notime/money
to livedream
Interview14/22
15/22
Younger(20-55);dream
depends onlifetime/age
Employee(30-55) withexcess cash
? (missedproblem)
Crowdfundingplatform
for dreams
Willing tosponsordreams
Happyto find
one!
0/2
No uniquevalue
proposition;No pain
Employees(20-55)
Pursuedream;
Help otherspursuedream
Peer-to-peerpitch
platform fordreams
Dreamerscan't do it
alone;Helpers
available
3/12mail; 5%
CVR
Case Study #1: Developer Skills
Case Study #2: Helping Dreamers
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Smokers
Bad-tastingcigarettes
Don't likebad-tastingcigarettes
Interview4/5
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Smokers
Bad-tastingcigarettes
Don't likebad-tastingcigarettes
Interview4/5
0/6
Smokersmind
lingeringsmell
afterwards
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Smokers
Bad-tastingcigarettes
Don't likebad-tastingcigarettes
Interview4/5
0/6
Smokersmind
lingeringsmell
afterwards
Smokers
Lingeringsmell
Want toremove
lingeringsmell
Interview4/5
7/7
Smokerswant toremovelingering
smell
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Smokers
Bad-tastingcigarettes
Don't likebad-tastingcigarettes
Interview4/5
0/6
Smokersmind
lingeringsmell
afterwards
Smokers
Lingeringsmell
Want toremove
lingeringsmell
Interview4/5
7/7
Smokerswant toremovelingering
smell
Smokers
Lingeringsmell
Spray toremove
smell
Willing topay for
spray-on
4/5
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Smokers
Bad-tastingcigarettes
Don't likebad-tastingcigarettes
Interview4/5
0/6
Smokersmind
lingeringsmell
afterwards
Smokers
Lingeringsmell
Want toremove
lingeringsmell
Interview4/5
7/7
Smokerswant toremovelingering
smell
Smokers
Lingeringsmell
Spray toremove
smell
Willing topay for
spray-on
4/5
10/10
Pricerange
Dave McClure
500 Startups
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http://newentrepreneurship.nl/lean-startup-method/
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