introduction to lean startup by leo exter
DESCRIPTION
Ideas from top minds in Lean Startup supported by our own experience. Key principles, recommended reading and practical tips. Presentation prepared for the workshop Bootstrapping/Lean Startup workshop by westartup.TRANSCRIPT
Lean Startup
Ideas stolen from clever people, and a bit of my own experience
Leo Exter, founder @ westartup
Copyright clearance
€ 20,000,000,000 market
€ 7,500,000 investment
23 employees
Sold for€ 300,000.
But there IS a better way.
Three trends behind Lean Startup
Technology commoditization
Agile software development
Customer development
Link: Eric Ries, The Lean Startup
The consumer is not a moron, she is your wife.
David Ogilvy
Most consumers can only chose from known options. They don’t imagine new things.
That’s your job!
Leo Exter
Insight into specific
consumer needs
Start by doing research
Link: speech by Manuel Rosso, CEO Food on the Table
Practical tip on research #1:
observe behavior
Practical tip on research #2
Ask why 5 times.
Find some truth every time.
Act on every bit of truth!
Classic startup fallacy: “ship it and see what happens.”
Eric Ries
Trap I fell into… twice. Leo Exter
Link: Eric Ries, A month is 15 weekends
13
Let data influence ideas for next turn through loop
Measure what happened, as quickly as possible.
Implement ideas in the best way
possible.
Link: Eric Ries’s blog
Minimum Viable Product is…
… that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
Link: Minimum Viable Product: a guide
Build a product that helps make decisions
Choose the relevant key metric
ActionableQuantifiable
Conversion is a good one ;)
Or… do it backwards
Start with a broken end-user process
Fine-tune your solution on paper
THEN develop code
Link: speech by Manuel Rosso, CEO Food on the Table
Key term: PIVOT (rotate around an axis)
Customer / problem /solution hypotheses
business model
Link: Eric Ries - Pivot, don't jump to a new vision
Change an element of your…
3 kinds of pivots• Segment pivot
Solve similar problem for a different set of customers
• Customer problem pivotSolve different problem for the same customer segment
• Feature pivotChoose a feature that works well, and reorient the whole company around that
Link: speech by Drew Houston, CEO Dropbox
Mandatory reading.
Link: Brant Cooper – What is customer development
Thank you!
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