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Lean Thinking Week 2 Slide 2 Agenda 5:30 Team Stand Up 5:40 Lean Thinking 6:00 Activity: Brainstorming 6:45 Activity: Market Research 7:25 Review Slide 3 Objectives Introduce Lean Thinking Model Exposure to Market Research Techniques Slide 4 Review Stand Up Called Stand Up because you stand up during the meeting - everyone! A Stand Up starts every session with teams (in person or virtual) Timeboxed meeting (ends on time) Slide 5 Lean Thinking Speaker Name: Title Credentials Slide 6 Why do Startups Fail? The vast majority of startups fail NOT because they could not build a great product or technology, but because no one wanted the product! Steve Blank Slide 7 What is Lean Thinking? A combination of the Lean Startup Model and Design Thinking, two strategies of approaching product design and development. Slide 8 Lean Lean refers to a set of methodologies that expose the relationship between what you think about a product and what is true about that product Slide 9 Why Lean? Why is it important to apply Lean Thinking to this program? Slide 10 Feedback Loop Slide 11 Lean Thinking Slide 12 Lean Doing Testing our assumptions about everything: the user/customer, the problems, the needs Speaking to real customers as much as possible (moms and friends don't count unless they are your customer) Learning as much as we can about our market and our business quickly Making consistent, incremental steps toward launching our business with an iterative approach Courtesy: Launchbit - Launch your Startup Slide 13 Applying Lean Thinking Brainstorm Science Education problem Hypothesize a solution to the problem Test what you think is true about the problem and solution by talking to potential users Validate every aspect - problem, solution, product, market Find and validate a viable business model Build a minimum viable product (your app) Slide 14 Enter Lean Slide 15 Test the Assumptions about User Problem Solution Who is the user/customer? What is their problem or unmet need? What is solution? Slide 16 Activity: Brainstorming Set a clear goal Timebox session Appoint a person to record ideas - Scribe Rules of Engagement: Write down main ideas Piggy-back ideas NO criticism of any idea DO NOT evaluate an idea Slide 17 Brainstorming Find the Brainstorming tab in your teams Technovation Workspace on Google Docs Slide 18 Get Ready to Research Group the ideas by subject/topics Write a problem statement Brainstorm possible solutions to the problem statement (record in Workspace) Slide 19 Problem / Solution Find the Problem/Solution tab in your teams Technovation Workspace on Google Docs Slide 20 Market Research Think of: People who might have this problem Online communities that would be interested in a solution to the problem Other solutions designed to solve the problem (may or may not be software) Companies that sell other stuff to prospects Slide 21 Market Research Find the Market Research tab in your teams Technovation Workspace on Google Docs Slide 22 Reminder: Weekly Reflections What did your team like about this week? What challenges did your team have this week? Anything else your team would like to share? Slide 23 Technovation Challenge Google Group Slide 24 Share with us on Twitter & Facebook Tweet us: @_technovation_ #technovation Like us on Facebook: Technovation Challenge Slide 25 Ongoing Offsite Activities Learn App Inventor Continue to do market research