intrapreneurship and the art of innovation (using lean startup in the enterprise)
DESCRIPTION
A talk I gave at AIMIA on how to use lean in the enterprise. Some case studies here as well as some best practice and pitfalls to avoidTRANSCRIPT
Intrepreneurshipand the art of innovation
(using lean Start-up in larger companies)
Some of our clients…
System Two approach..
Large corporates
SMEs and Start-ups
Investments
Lean
What is an intrapreneur?
Why is lean so important?
U.S. packaged goods industry introduce 30,000 products every year, but 70% to 90% fail…
What is lean?
“An approach for launching businesses and products,
that relies on experimentation,
iterative product releases and engaging a particular
type of customer - to shorten
product development cycles, measure progress, and gain
valuable customer feedback”
The significance of Early adopters…
#1 - Dropbox…
The “learn - build – measure” loop
Learn
BuildMeasure
Would people be interested in a product that made synching their files across devices easier?
Value hypothesis
Video which shows the product working
MVP (minimum
viable product)
How many people watched and
rated the video
OMTM (the one metric
that matters)
What are you trying to learn?
#2 – [a big retail bank]
The “learn - build – measure” loop
Learn
BuildMeasure
We believe more people will invest in ISA if they see how much their piers are investing
Value hypothesis
A JavaScript logout interstitial
MVP (minimum
viable product)
How many people bought ISAs in the
test group
OMTM (the one metric
that matters)
Failure isn’t FAILURE! – its just a value hypothesis disproved – its learning..
Applying lean to existing projects
#3 - Palm Pilot
The “learn - build – measure” loop
Learn
BuildMeasure
We believe people will be prepared to use an electronic device as a calendar, to ensure their data is backed up
Value hypothesis
A block of wood and a piece of paper
MVP (minimum
viable product)
What was the reaction of
people when he used it?
OMTM (the one metric
that matters)
Get in front of customers
#4 - Zappos
The “learn - build – measure” loop
Learn
BuildMeasure
People will be prepared to order shoes, over the internet, so long as the customer service and proposition is right
Value hypothesis
A wordpress website
MVP (minimum
viable product)
Orders
OMTM (the one metric
that matters)
Not building a business – validating learning
#5 – ProTrain3d
The “learn - build – measure” loop
Learn
BuildMeasure
People will be prepared to use 3d as a way of learning Taekwondo remotely
Value hypothesis
1 Form prototype
MVP (minimum
viable product)
Number of paid for apps
OMTM (the one metric
that matters)
Build feedback loops into the experience
#6 - Aardvark
The “learn - build – measure” loop
Learn
BuildMeasure
People will value a way of asking questions to humans online
Value hypothesis
Simple CMS
MVP (minimum
viable product)
Number of repeat users
OMTM (the one metric
that matters)
Strings and sellotape is ok
#7 – [a really big office space provider]
Their logo!
The “learn - build – measure” loop
Learn
BuildMeasure
Will people be interested in content in areas outside their direct brand “remit”
Value hypothesis
Approach 100 bloggers with content
MVP (minimum
viable product)
Number of mentions of xxxxx
OMTM (the one metric
that matters)
Measure – a single, hard metric
Profit CACSales Likes Visits
SoftHard
The benefits of lean…
Make friends with early adopters
Apply it anywhere
Creates action
Build better products..
Work becomes fun
Fire the consultants…
What to watch out for…
Must get in front of real customers
Ugly babies and the fear of failure
Minimum valuable / viable product
Large teams are challenging
Keep momentum – a good experiment today
Thank you!
Questions?