lean startup overview for entrepreneurs
DESCRIPTION
An introduction to Lean Startup, Business Model Canvas, and Lean Business Canvas. Presented for Manly Entrepreneurs Meetup on 14th August 2014TRANSCRIPT
For Manly Entrepreneurs Meetup
13th August 2014
1. Why Lean Startup works, and who is it for?
2. What is it and where did it come from?
3. How can you use experiments and business modelling?
4. Where can you learn more?
5. Question and Answer time…
Thursday, 14 August 2014 Page 2DanielRingrose
DanielRingroseThursday, 14 August 2014 Page 3
• 15 years Business and IT Program Delivery in Europe and Australia
• Passionate about building things people love and use
• Researched the secret sauce from startups that succeed
• Now I help companies shape their ideas by learning from the market
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“A startup is a human institution
designed to deliver a new product or service
under conditions of extreme uncertainty”
- Eric Ries
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A survey of 3,200 startups proved:
• 74% of businesses that failed did so due to premature scaling
• 60% of inconsistent (premature scaling) startups focus on validating a product
• 80% of consistent (controlled scaling) startups focus on discovering a problem
space
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LEARNBUILD
IDEAS
DATA
MEASURE
PRODUCT
PROBLEMTop 3 Problems
SOLUTIONTop 3 Features
KEY METRICSKey activities to
measure
UNIQUE VALUE
PROPOSITIONSingle clear compelling
message that states why you
are different and worth buying
CUSTOMER Target Customers
UNFAIR ADVANTAGECan t be copied
CHANNELSPath to customers
COST STRUCTURECustomer Acquisition Costs, Distribution Costs,
Operations, People, etc
REVENUE STREAMSRevenue Model, Lifetime Value, Gross Margin
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2.5% 13.5% 34% 16%34%
Early Adopers
InnovatorsEarly
MajorityLate
MajorityLaggards
Customer Discovery
Customer Validation
Customer Creation
Company Building
STARTUP GROWTH SCALE MATURITY
Search for Problem & Solution Fit
Search for Product & Market Fit
Market Disrupted
DECLINE
Transition
Find these customers
Rogers Innovation Adoption Curve
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WATERFALL INVENTION
AGILE
Solution Feature Value Verified
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Solution Feature Value Assumed
PLAN LAUNCHDESIGN BUILD TEST
PLAN LAUNCH
DESIGN BUILD
TEST
IDEA COMMERCIALIZE
THEORYTEST
LEARN
DESIGN BUILD
TEST
THEORYTEST
LEARNRepeat
LEAN STARTUP
IDEA SCALE
Repeat
Repeat
$ $
$ $
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PART 2
1
2
3
4
Problem worth solving?
Solution that solves problem?
Enough people willing to pay?
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VALUE PROPOSITION CANVAS
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LEARNBUILD
IDEAS
DATA
MEASURE
PRODUCT
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Google is your friend. Blogs are bountiful
Lean Startup Sydney meetup group
Contact me for help finding training courses,
and I’ll confirm with companies like Pollenizer
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5 Sep 6pm – Trevor Owens meets Sydney entrepreneurs
5-7 Sep – LSM for Entrepreneurs Competitive Weekend
Early bird tickets still available at $249
https://www.leanstartupmachine.com/cities/sydney
4-5 Sep – Corporate LSM Workshop Training with Trevor Owens
Corporate Team ticket $6000 for 5 people - www.vivant.com.au/lsm
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28 Oct – Ash Maurya meets Sydney entrepreneurs
29-30 Oct – Running Lean Workshop by Ash Maurya
Tickets $997 for entrepreneurs, $1997 for corporates
https://www.eventbrite.com/e/running-lean-workshop-sydney-tickets-12210681477
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linkedin.com/in/danielringrose/
@danielringrose