llp tecnico-class0

LLP@TecnicoClass 0

Luis Caldas de Oliveira

Agenda for Class 0

• Class introduction

• Weekly class scheduling

• Division in teams

• Effectuation

• Work for next week

CLASS INTRODUCTION

Introduction

http://www.youtube.com/watch?v=VZvgj6B2JZs

No Business Plan Survives First Contact

With A Customer

Strategy: Business Model to

Operating Plan

LLP: Lean LaunchPad

• The Business Model Canvas

• Customer Development

• Agile Development

The Business Model Canvas

BMC video

http://www.youtube.com/watch?v=QoAOzMTLP5s

Customer Development

Agile Development

LLP: Lean LaunchPad

The goal of the Lean LaunchPad is to impart an evidence-based methodology for scalable

startups that students can use for the rest of their careers.

Experiential Learning

• The Flipped Classroom

• Team Teaching: Students up Front

Where is it Used?

• Stanford University: Stanford Technology Ventures Program

• UC Berkeley: Haas Business School

• NSF: Innovation Corps classes

• Columbia Business School

• many others...

Examples

• Speedmeet: http://www.slideshare.net/sblank/trust-score-final-2013-berkeley-video

• Autonomow: http://www.slideshare.net/sblank/autonomow-e245-final-presentation

LLP@Tecnico

• Experimental implementation in 2013/14

• Special track of an already established course on entrepreneurship

• Students work in teams of 4 to 6 students

• Teams work in a cohort of up to 5 teams

LLP@TecnicoExamples

• Hi!Fidelity Loyalty Program: https://youtu.be/X-AtxmXHL-8?list=PLFNqvUqW2S2Xp7RIta1udC-R90aFniqt4

• SwimPro Promotional Videohttps://youtu.be/3vcQ4fAhwBw?list=PLFNqvUqW2S2W_4fZ8itMm_vxodokR6att

Warning

This course pushes many people past their comfort zone.

Conditions to Attend• Learn and apply Business Model Canvas for a

product or a service

• Be willing to accept the flipped classroom model by following Steve Blank’s course on Udacity

• Be willing to complete 10 in person or skype interviews per week

• Be willing to develop prototypes (teams must have domain experts)

• Accept that all information presented in the class will be shared with the world

Instructors

• Prof. Luis Caldas de Oliveira([email protected])

• Prof. Miguel Amaral([email protected])

• Diogo Henriques([email protected])

Key Concepts

• Students are experts in their fields

• Advisors are technical consultants

• Mentors are business counselors

• Instructors are experts in the LLP model

Key Points

• Evidence-based entrepreneurship (not “faith-based”)

• Students need to “get out of the building”

• Time management: intense and fast

• Community: every class member must actively comment the other teams

Syllabus

• A 3 hour class per week

• Each team must prepare a 10 min presentation per week

• Office hours: 20 min/team every 2 weeks

Mandatory Office Hours with Partners, a Mentor dedicated to team, uses LPC for review, Advisors as domain experts

Lean LaunchPad

1 week before

Mentorship

Product Continual Revisions to MVP based on Customer Discovery

Customer Discovery

Team presents weekly in front of cohort, formal curriculum, Optional: Office space, weekly dinners w/guest speakers

10-15 customer interviews/week, present results in front of peers

FramingHypotheses

Education / Community

Application by BMC, Initial Canvas, Updated Weekly Canvases

Lessons Learned What we thought, what we did, what we found, what’s next.

Class Plan

Class 3Class 2Class 4

Class 5

Class 6

Class 7

Class 8

Before Each Class• Talk to 10 customers about lecture (n-2)

• Update narrative and canvas (n-2)

• Revise MVP based on findings about (n-2)

• Prepare presentation with findings about (n-2)

• Formulate hypotheses about (n-1)

• Prepare interviews about (n-1)

• Talk to mentors and advisors

• Watch Udacity lecture (n)

In Class

• Q&A about lecture (n-1)

• Team present findings about (n-2)

• Summary of lecture (n)

Grading

• 15% for individual participation

• 40% for Out-of-the-building Customer Discovery progress

• 20% Team weekly presentation

• 25% Team final presentation

References

• Business Model Generation, Osterwalder & Pigneurhttp://www.businessmodelgeneration.com/downloads/businessmodelgeneration_preview.pdf

• The Startup Owner’s Manual, Blank & Dorf

• How To Build a Startup – Udacityhttps://www.udacity.com/course/ep245

WEEKLY CLASS SCHEDULING

Weekly Class

• 3 hours preferably starting at 5 PM

• All teams must be present

• Some members maybe away for part of the class

• All members must present during team presentation

DIVISION IN TEAMS

Teams

• LLP objective is to simulate the challenges of creating a business in “real life”

• Teams should be as diverse as possible

• Students need to be trained in handling the challenges of professional teamwork

EFFECTUATIONHow do entrepreneurs decide and act?

Research Experiment

Result: Effectuation

5 Principles of Effectuation

Affordable Loss


Lemonade


Patchwork Quilt


Pilot-in-the-plane


The Effectual Cycle


The Cycle Starts Here


Then Interact With People


NEXT WEEK

Before Next Class• Arrange a meeting with your team

• Find your team’s “Birds-in-Hand” and goals

• Find and interact with people that can help your team

• Watch Videos

• TEDxMidAtlantic 2010 Saras Sarasvathy

• Lecture 1: What We Now Know

• Lecture 1.5: Business Models and Customer Development

Slides

• Slide 1: Cover slide

• Slide 2: Present your team

• Slide 3: Present your team’s Birds-in-Hand

• Slide 4: Present your team’s initial goals

• Slide 5: Present and report interactions with stakeholders

Obrigado