The Lean StartupResumen del libro de Eric Ries

Roots

When to use

● Problem known / solution knownWaterfall

● Problem known / solution unknownAgile

● Problem unknown / solution unknownLean

Pillars of the lean startup

1. Entrepreneurs are everywhere2. Entrepreneurship is management3. Validated learning4. Build-measure-learn loop5. Innovation accounting

Part 1: Vision

Define

A startup is a company designed to grow fast. Being newly founded does not in itself make a company a startup. Nor is it necessary for a startup to work on technology, or take venture funding, or have some sort of "exit." The only essential thing is growth. Everything else we associate with startups follows from growth.

Paul Graham

Define

A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.

Entrepreneurship is management.

Learn

If the fundamental goal of entrepreneurship is to engage in organization building under conditions of extreme uncertainty, its most vital function is learning.

Unfortunately, “learning” is the oldest excuse in the book for a failure of execution.

Learn

Adopt the view that your job is to find a synthesis between your vision and what customers would accept; it isn’t to capitulate to what customers think they want or to tell customers what they ought to want.

Learn

The point is not to find the average customer but to find early adopters: the customers who feel the need for the product most acutely.

Learn

It is often easier to raise money or acquire other resources when you have zero revenue, zero customers, and zero traction than when you have a small amount.

This phenomenon creates a brutal incentive: postpone getting any data until you are certain of success.

Learn

Can we build a sustainable business around this set of products and services?

Experiment

Think big, start small. Build a minimum viable product to test your hypothesis relying on the scientific method.

Experiment

Break down the grand vision into its component parts. The two most important assumptions entrepreneurs make are the value hypothesis and the growth hypothesis.

Experiment

Planning is a tool that only works in the presence of a long and stable operating history.

Part 2: Steer

Leap

Your goal is to validate your value and growth hypothesis.

Leap

Genchi Gembutsu: "go and see for yourself"

You cannot be sure you really understand any part of any business problem unless you go and see for yourself firsthand.

"If you don't go, you don't know"

Leap

Lean UX recognizes that the customer archetype is a hypothesis, not a fact.

The customer profile should be considered provisional until the strategy has shown via validated learning that we can serve this type of customer in a sustainable way.

Leap

Avoid the dangers of the two extremes: just do it vs analysis paralysis.

Test

The fastest way to get through the Build-Measure-Learn feedback loop with the minimum amount of effort is via a MVP.

The goal of the MVP is to begin the process of learning, not end it.

Test

Before new products can be sold successfully to the mass market, they have to be sold to early adopters. These people are a special breed of customer. They accept—in fact prefer—an 80 percent solution; you don’t need a perfect solution to capture their interest.

Test

The lesson of the MVP is that any additional work beyond what was required to start learning is waste, no matter how important it might have seemed at the time.

Test

Examples of MVPs

● Video● Landing page● Concierge● Wizard of Oz.

Test

If we do not know who the customer is, we do not know what quality is.

Measure

Innovation accounting enables startups to prove objectively that they are learning how to grow a sustainable business.

Measure: Innovation accounting

1. Establish the baselinea. Build an MVPb. Measure how customers behave right now

2. Tune the enginea. Experiment to see if we can improve metrics from

the baseline towards the ideal

3. Pivot or perseverea. When experiments reach diminishing returns, it is

time to pivot

Measure

Metrics must be: ● Actionable● Accessible● Auditable

Measure

This is the pattern: poor quantitative results force us to declare failure and create the motivation, context, and space for more qualitative research.

Measure: Using kanban

Stories could be cataloged as being in one of four states of development: in the product backlog, actively being built, done (feature complete from a technical point of view), or in the process of being validated.

Validated was defined as “knowing whether the story was a good idea to have been done in the first place.”

Pivot

Pivot is to change direction while keeping a foot on sure ground.

A pivot is better understood as a new strategic hypothesis that will require a new MVP to test.

A startup's runway is the number of pivots it can still make.

Pivot

The more money, time, and creative energy that has been sunk into an idea, the harder it is to pivot.

Remember, if we're building something that nobody wants, it doesn't much matter if we're doing it on time and on budget.

Pivot: Kinds

● Zoom in● Zoom out● Customer segment● Customer need● Bussiness architecture● Value capture● Engine of growth● Channel● Technology

Part 3: Accelerate

Batch

Working in small batches ensures that a startup can minimize the expenditure of time, money, and effort that ultimately turns out to have been wasted.

Batch

By reducing batch size, we can get through the Build-Measure-Learn feedback loop more quickly than our competitors can.

The ability to learn faster from customers is the essential competitive advantage that startups must possess.

Batch

● Andon cord● Continuous deployment● Automated tests

Large-batch death spiral: the larger the batch, the higher the pressure to deliver a high-quality version of the product.

In light of how long the product has been in development, why not fix one more bug or add one more feature? Who really wants to be the manager who risked the success of this huge release by failing to address a potentially critical flaw?

Batch

Batch

Pull, don't push: avoid stockpiled Work In Progress. Experiments should pull the development.

Build-Measure-Learn => Learn-Measure-Build

Grow

Sustainable growth: New customers come from the actions of past customers.

● Word of mouth● Side effect of product usage● Funded advertising● Repeat purchase or use

Grow: Engines of growth

Sticky

● Relies on high customer retention rate. ● Key is for new customer acquisition exceed

churn rate.

Viral

Many viral product do not charge customers directly but rely on indirect sources of revenue such as advertising.

Customers are not intentionally acting as evangelists, growth happens automatically as a side effect of customers using the product.

Grow: Engines of growth

Grow: Engines of growth

Paid

● Marginal profit, the margin between LTV (customer lifetime value) and CPA (cost per acquisition)

● Relies on paid advertising

Adapt

Build a company that can adapt and change as fast as possible.

Adapt: The five whys

The core idea of Five Whys is to tie investments directly to the prevention of the most problematic symptoms.

Adopt these simple rules: 1- Be tolerant of all mistakes the first time2- Never allow the same mistake to be made twice

Innovate

As the company grows, keep innovating. Build small teams of entrepreneurs within the company to have a diverse portfolio and keep innovating.

Create a sandbox for innovation that will contain the impact of the new innovation but not constrain the methods of the startup team.

Innovate

Startup teams require three structural attributes: ● scarce but secure resources, ● independent authority to develop their

business,● and a personal stake in the outcome.

Innovate

The innovation team should be cross-functional and have a clear team leader.

It should be empowered to build, market, and deploy products or features in the sandbox without prior approval.

It should be required to report on the success or failure of those efforts by using standard actionable metrics and innovation accounting.

Innovate

Entrepreneur Is a Job Title

Epilogue

For all of our vaunted efficiency in the making of things, our economy is still incredibly wasteful. This waste comes not from the inefficient organization of work but rather from working on the wrong things - and on an industrial scale. As Peter Drucker said, “There is surely nothing quite so useless as doing with great efficiency what should not be done at all.”

Epilogue

By focusing on functional efficiency, we lose sight of the real goal of innovation: to learn that which is currently unknown.

Extractos de "What User-Centered Design is Good For"de Dan Saffer

User-centered design

No matter how many users you talk to, no matter how much data you collect, at the end of the day, a human has to decide.

No amount of data analysis can make up for a lack of talent.

User-centered design

Users and their data should be there to inform designers, not to substitute for them.

Great ideas can't be tested. Only mediocre ideas can be tested.

Preguntas?