lean startup masterclass
TRANSCRIPT
LEAN STARTUP MASTERCLASSHERLEEN, MARCH 26TH 2015
+ANDERSEN & ASSOCIATESCORPORATE INNOVATION & GROWTH THROUGH ENTREPRENEURSHIP + SCIENCE
[email protected]+49 151 40 133 149
ABOUT VIDAR ANDERSEN
• NORWEGIAN LIVING IN COLOGNE, DE SINCE 2005
• WORKING WITH F500 CORPORATIONS AND GOS SOLVING PROBLEMS WITH TECHNOLOGYSINCE 1996
• SERIAL STARTUP FOUNDER & ENTREPRENEUR WITH HITS & MISSES
• EDUCATOR (UNIVERSITY LECTURER ON STARTUP ENTREPRENEURSHIP, STARTUP NEXT INSTRUCTOR & CERTIFIED LEAN LAUNCHPAD EDUCATOR)
FOUNDING PRINCIPAL +ANDERSEN & ASSOCIATES
WORKED WITH E.G.
ANDERSEN FOUNDED E.G.
FEATURED & RECOGNIZED
“[Vidar Andersen] one of the most important persons in the German startup scene.” –
Wirtschafts Woche, April 2015
CERTIFIED LLP EDUCATOR @STANFORD
LLP LECTURE MARCH 2015 @ QAZVIN ISLAMIC AZAD UNIVERSITY, IRAN
WHAT WE KNOW NOWWHY STARTUPS ARE NOT SMALLER VERSIONS OF COMPANIES
STARTUPS ARE NOT SMALLER VERSIONS OF LARGER COMPANIES
A COMPANY IS A PERMANENT ORGANIZATION
DESIGNED TO EXECUTE A REPEATABLE AND SCALABLE
BUSINESS MODEL IN A PREDICTABLE AND STABLE
ENVIRONMENT
A STARTUP IS A TEMPORARY ORGANIZATION DESIGNED TO SEARCH FOR A REPEATABLE AND SCALABLE BUSINESS MODEL IN
AN ENVIRONMENT OF EXTREME UNCERTAINTY
A STARTUP IS A TEMPORARY ORGANIZATION DESIGNED TO SEARCH FOR A REPEATABLE AND
SCALABLE BUSINESS MODEL
COMPANY LIFE-CYCLE
SCALABLESTARTUP TRANSITION LARGE
COMPANY
SEARCH BUILD GROW• BUSINESS MODEL FOUND • PRODUCT-MARKET FIT • REPEATABLE SALES MODEL • MANAGERS HIRED
• CASH-FLOW BREAK-EVEN • PROFITABLE • RAPID SCALE • NEW SENIOR MANAGEMENT • AROUND 150 PEOPLE
SEARCH
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
EXECUTION
LARGE COMPANY
WHAT WE KNOW NOW• STARTUPS ARE NOT SMALLER VERSIONS OF LARGER COMPANIES
• STARTUP IS TEMPORARY ORG, IN SEARCH OF SCALABLE REPEATABLE BUSINESS MODEL
• NO BUSINESS PLAN EVER SURVIVES FIRST CONTACT WITH CUSTOMERS
• BUSINESS MODEL CANVAS INSTEAD OF BUSINESS PLANS
• CUSTOMER DISCOVERY INSTEAD OF EXECUTION
• AGILE ENGINEERING PROCESSES INSTEAD OF WATERFALL
• MINIMUM VIABLE PRODUCT INSTEAD OF BETAS
• BUILD - MEASURE - LEARN: ITERATION AND SPEED OF THE ESSENCE
THE LEAN STARTUP
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
THE LEAN
STARTUP=
WHAT IS A BUSINESS MODEL?
INTRODUCING BUSINESS MODEL GENERATION
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
www.udacity.com/overview/Course/ep245
www.udacity.com/overview/Course/ep245
www.udacity.com/overview/Course/ep245
VALUE PROPOSITION CANVAS
https://www.youtube.com/watch?v=aN36EcTE54Q
CUSTOMER DEVELOPMENTCUSTOMER DISCOVERY & VALIDATION
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
AGILE ENGINEERINGMVP, BUILD-MEASURE-LEARN IN SMALL ITERATIVE BATCHES
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
AGILE ENGINEERING• MINIMUM VIABLE PRODUCT INSTEAD OF FEATURE-COMPLETE
• BUILD-MEASURE-LEARN ITERATIONS IN SMALL BATCHES INSTEAD OF VERSION COMPLETE & WATERFALL PROCESS
• GOOD ENOUGH VS PERFECT - SPEED IS OF THE ESSENCE
• DATA / TEST DRIVEN DESIGN - HYPOTHESIS TESTING
• AUTOMATED ACCEPTANCE TESTING + USER STORIES / SCENARIOSDESCRIBE WHAT WE WANT TO SEE THE SOFTWARE DO, THEN AUTOMATE THE VERIFICATION THAT THE SOFTWARE ACTUALLY DOES IT
• CONTINUOUS DEPLOYMENT, MULTIVARIABLE A/B TESTING, PAIR PROGRAMMING (XP), SCRUM & KANBAN
DEFINE YOUR PASS / FAIL CRITERIA
PASS / FAIL CRITERIA
• TESTING YOUR CRITICAL ASSUMPTIONS, YOU NEED TO DEFINE THE SUCCESS AND FAIL CRITERIA IN ADVANCE TO KEEP YOU FROM FUDGING THE FINDINGS TO FIT YOUR BELIEFS AFTER THE FACT
• IT NEEDS TO BE A QUANTITATIVE OR QUALITATIVE RESULT
• 40% IS OFTEN USED AS THE SUCCESS LIMIT
EXAMPLE
I BELIEVE THAT PEOPLE LIKE (CUSTOMER SEGMENT ) HAVE A NEED FOR OR PROBLEM D O I N G ( N E E D / A C T I O N /BEHAVIOR) AND I WILL KNOW THAT I HAVE SUCCEEDED WHEN (QUANTITATIVE / M E A S U R A B L E O U T C O M E ) O R (QUALITATIVE / OBSERVABLE OUTCOME)
THE MINIMUM
VIABLE PRODUCT (MVP)
MVP: THE SMALLEST BATCH THAT
WILL TEACH YOU SOMETHING
MORE THAN ONE WAY TO MVP
THERE ARE SEVERAL TYPES OF MVPS
THE EXPLAINER VIDEO
THE LANDING PAGE
THE WIZARD OF OZ
THE WIZARD OF OZ - ZAPPOS
MVP
THE CONCIERGE
THE CONCIERGE - FOODONTHETABLE
THE PIECEMEAL
MVP
THE PIECEMEAL - AARDVARK
CROWD FUNDING
CROWD FUNDING - COOLEST: $13.4M
MVP - SEVERAL TYPES:• EXPLAINER VIDEO (DROPBOX)
• A LANDING PAGE
• WIZARD OF OZ MVP (ZAPPOS)
• CONCIERGE MVP (FOOD ON THE TABLE)
• PIECEMEAL MVP (WIZARD OF OZ + CONCIERGE)
• CROWD FUNDING (SELL BEFORE YOU BUILD)
• SINGLE-FEATURE MVP (GOOGLE)
• ETC
DEFINE YOUR MVPWHAT CAN YOU RELEASE IN ONE DAY TO START
TESTING YOUR HYPOTHESES?
HOW AND WHAT WILL YOU TRACK?
MEASURE THE DATA FROM YOUR MVP
COMPARE DATA TO PASS / FAIL CRITERIA
ACT & ADJUST ACCORDINGLY
AND TEST AGAIN
IN BUILD - MEASURE - LEARN CYCLES
ITERATE OR PIVOT AS NEEDED
RELEASING SMALL BATCHES
IN BUILD-MEASURE-LEARN CYCLES
LET’S CONNECT:TWITTER.COM/BLACKTAR
FACEBOOK.COM/BLACKTAR LINKEDIN.COM/IN/VIDARANDERSEN
VIDARANDERSEN.COM
+ANDERSEN & ASSOCIATESCORPORATE INNOVATION & GROWTH THROUGH ENTREPRENEURSHIP + SCIENCE
[email protected]+49 151 40 133 149