lean entrepreneurship for software professionals

BW10 ConcurrentSession11/11/154:15pm

“Lean Entrepreneurship for Software Professionals”

Presented by:

Thomas Vaniotis

Liquidnet

Broughttoyouby:

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Thomas Vaniotis Liquidnet

Thomas Vaniotis has more than ten years of experience as a tester, developer, and product analyst. At NYC-based institutional brokerage Liquidnet, Thomas is the product manager for internal and external customer tools that manage multiple complex trading applications. He is interested in data-driven business analysis, customer-experience design, exploratory testing, and the theory of software creation. Thomas’ background in music and philosophy gives him a unique perspective on the world of finance and technology. He has previously spoken at STARCANADA and CAST, and tweets @tvaniotis.

Lean Entrepreneurship for Software

Professionals

Thomas Vaniotis @tvaniotis Product Manager, Liquidnet, New York

The Lean Startup

Vaniotis Better Software 2015

Startup


“A human institution designed to create a new product or service under conditions of extreme uncertainty.” - Reis

Software Development


A human activity designed to provide information about a

software-enabled product under conditions of extreme uncertainty.

Lean


Production Facility Inputs

Value

Waste

People

Time

Waste


Overproduction Waiting Transportation Inappropriate processing Excessive inventory Unnecessary motion Defects

Lean Startup


A human institution designed to create a new product or service under conditions of extreme uncertainty using lean production principles.

Lean Startup


STARTUP Data & Context

Value

Waste

People

Time

Value

Lean Startup



Waste

People

Time

Investment Valuable Information

Validated Learning


“A rigorous method for demonstrating progress when one is embedded in ... extreme uncertainty.” “the process of demonstrating empirically that a team has discovered valuable truths about a startup’s present and future business prospects”

Value

Lean Startup in Context



Waste

People

Time

Investment Valuable Information

Production Facility

People

Time

Waste

Value

Cash

Customer Benefit

Customer

Minimum Viable Product


“The version of the product that enables a full turn of the build-measure-learn loop with a minimum amount of effort and the least amount of development time.”

Build-Measure-Learn


Souce: The Lean Startup (Crown Business: 2011)

Build: Minimum Viable Product


Zappos (amazon.com) Dropbox Food on the Table (food.com)

Measure: Actionable Metrics


- Define the baseline - Tune the engine - Decide to pivot or persevere

Types of Pivot


-  turn a single feature in a product to the whole product

-  incorporate your existing product into something bigger

- adjust your target customer based on data about who is actually using your product

- adjust your product to meet a new need your product uncovers

- change in revenue capture strategy - change in delivery channel

Lean and Continuous


Reduce: - Defect detection - Defect removal time - Hypothesis evaluation time - Pivot implementation time -  Inventory of product ideas

Quality in Lean


- Context-appropriate quality levels - Stopping production to avoid production

stoppage - Blame-free root cause analysis and

incremental, proportional mitigation

Context-Driven Testing Principles

Source: context-driven-testing.com The value of any practice depends on its context. There are good practices in context, but there are no best practices. People, working together, are the most important part of any project’s context. Projects unfold over time in ways that are often not predictable. The product is a solution. If the problem isn’t solved, the product doesn’t work. Good software testing is a challenging intellectual process. Only through judgment and skill, exercised cooperatively throughout the entire project, are we able to do the right things at the right times to effectively test our products.


Context-Driven Business Principles

The value of any practice depends on its context. The value of a product depends on its economic context.



There are good practices in context, but there are no best practices. There are good business models in context, but there are no best business models.



People, working together, are the most important part of any project’s context. People, internal to the team, and as part of a marketplace, are the most important part of any startup’s context.



Projects unfold over time in ways that are often not predictable. Startups unfold over time in ways which are inherently unpredictable.



The product is a solution. If the problem isn’t solved, the product doesn’t work. The product is a solution. If the problem isn’t solved, the product has no value.



Good software testing is a challenging intellectual process. Good business development is a challenging intellectual process.



Only through judgment and skill, exercised cooperatively throughout the entire project, are we able to do the right things at the right times to effectively test our products. Only through judgment and skill, exercised cooperatively throughout the entire project, are we able to do the right things at the right times to effectively test our products.


Feedback

@tvaniotis

[email protected]

Acknowledgement

Thank you to my Liquidnet colleagues who critiqued the first version of this presentation.