how to run your library like a startup
TRANSCRIPT
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How to Run Your Library Like a Startup
June 3, 2015Helen Kula & M.J. D’Elia
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welcome
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Helen Kula@helenkula
U of Toronto Mississauga
M.J. D’Elia@mjdelia
University of Guelph
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• Context• Five strategies• Discussion
Agenda
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• Introduce startup thinking• Suggest practical steps to get started• Invite discussion
Objectives
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Libraries are NOT startups
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No revenue model
Libraries are NOT startups
Institutional complexity
Legacy systems
Analog and digital
Inherited tradition
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The case for startup thinking
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The case for startup thinking
Limited resourcesConditions of uncertainty
Platform building
Anticipate change
Commitment to mission
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Startup Myths
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Entrepreneurs love risk
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They use processes to reduce riskEntrepreneurs love risk
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Entrepreneurs rely on intuition
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They use data to make decisionsEntrepreneurs rely on intuition
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Entrepreneurs launch fully formed businesses
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Entrepreneurs commit to iterative improvementEntrepreneurs launch fully formed businesses
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Startups are focused on learning quickly. They offer valuable approaches thatwe could translate to our context.
Premise
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five strategies
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1. Focus on the problem
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Understand the core challenge yourcustomers are trying to solve.
Focus on the problem
• What are they trying to do? Why?• What pains are they experiencing?
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• Get out of the building• Listen more, talk less• Seek out non-users• Gather and evaluate feedback
How to focus on the problem
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A fundamental change in strategy based on validated learning; a course correction.
Pivot
(Ries, 2011)
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Be prepared …to be humbled
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2. Build for the few
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Focus development on one or two key groups who will benefit from the service.
Build for the few
• Who stands to gain the most? • Which groups are easiest to reach?
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• Choose customers who share a need• Choose customers you can access• Find early adopters• Invite them to co-create
How to build for the few
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Breaking down a larger market into smalleridentifiable groups of users who sharespecific needs.
Segmentation
(Cooper & Vlaskovits, 2010)
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Be prepared…for pressure to increase scope
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3. Build-measure-learn
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Iterate and improve your approach based on what you learn.
Build-measure-learn
• Which assumption can you test next?• What can you build to test it?
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• Build successive prototypes• Monitor user behavior• Run A/B tests
How to build-measure-learn
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A product or service with just enough features that allow it to reach the market.
Minimum Viable Product
(Ries, 2011)
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Be prepared…to accept imperfection
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4. Monitor key metrics
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Track data that indicate the ongoinguse of the product or service.
Monitor key metrics
• Which data are essential?• How can you measure impact?
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• Choose key data points to track• Monitor data frequently• Make changes based on data
How to monitor key metrics
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Monitoring key metrics in (near) real-time to track core elements of the business.
Dashboarding
(Komisar & Mullins, 2009)
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Be prepared…to abandon your library stats
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5. Articulate your value
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Communicate the benefits that you generatefor your customers clearly and precisely.
Articulate your value
• Why would people choose you?• What’s in it for your customers?
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• Make your value explicit• Be succinct• Tailor your value to each segment• Internalize values with staff
How to articulate your value
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The bundle of products and services thatcreate value for a specific customer segment
Value proposition
(Osterwalder & Pigneur, 2010)
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Be prepared…for disagreement
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wrap
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• Focus on the problem• Build for the few• Build-measure-learn• Monitor key metrics• Articulate your value
Five strategies (review)
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Discussion
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Blank, S. (2014). Steve Blank [blog]. Retrieved from http://steveblank.com
Blank, S. & Dorf, B. (2012). The Startup Owner’s Manual. Pescadero, CA: K&S Ranch
Cooper, B. & Vlaskovits, P. (2010). The Entrepreneur’s Guide to Customer Development. Newport
Beach, CA: Cooper-Vlaskovits
Komisar, J. & Mullins, R. (2009). Getting to Plan B. Cambridge, MA: Harvard Business.
MaRS. Entrepreneur’s Toolkit. Retrieved from http://www.marsdd.com/entrepreneurs-toolkit/
Mathews, B. (2012, April). Think like a Startup [white paper]. Retrieved from
http://vtechworks.lib.vt.edu/handle/10919/18649
Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley
Ries, E. (2011). The Lean Startup. New York: Crown.
References