Post on 07-Jul-2015
description
An effectual and lean (young) story
http://www.meetup.com/lean-Startup-effectation/events/218590909/
What I do
• Product and Tech / associate @mobileangelo
• Lean Product Management consultant(Lean Startup principles for big corp.)
• Product Management association president@WeDoPM
Kivahu : 30K€, 8 months
A******** : 250K€, 12 months
MobileAngelo ? : 2,5K€
Few fast crashes
Kivahu A******* Mobile Angelo
First customer contact
none 1 year 2 days
Money 30 K€ 250K€ 400 €
People 3 3 > 7 2 > 3
Position full time 0 > full time 0 > part time
Revenue 0 0 few K€ / months
Facts
(ballpark figures)
Recharge - Repair - Resell
It all began by an experience I wanted to scale
Recharge
Repair
Resell
How I discovered Lean Startup and Effectuation principles
Both are very simple at first look :
MEANS GOALS INTERACTIONS COMMITMENTS
NEW MEANS
NEW GOALS
Both aims at :
Start (and grow) a business Be in control
Pivoting
Lean Startup :
BY EXPERIMENTING (and adapting)
Effectuation :
BY INTERACTING (and adapting)
How ?
Same philosophy. Different approach.
Common sense ?
Some people may think Lean Startup and Effectuation are « common sense ».
But only people who have tried to build a startup know that, in the middle of the storm, what is lacking the most is « common sense » :)
So understanding these principles is fundamental.
So let’s review these principles and how I’ve tried to apply them.
‣ Agile Product Development ‣ Customer Development ‣ Scientific approach ‣ Waste reduction ‣ Use of commodities
Agile Product Development
Delivering the same value,
but with an increasing level of quality.
December 2013
June 2014
December 2014
+
Being agile, even with the content :)
December 13 June 14
Customer development
Client ? User ?
We chose our first « customers » by the shortest feedback loop.
Unfortunately, people don’t break their iphones that often, so we focused first on our partners (the
repairers) as our first client.
What could we sell them ?
Filtering our clients too
We moved from ‘any’ iPhone owner to busy business people for whom their device is critical.
Filtering our partners
We moved from handymen to professional iPhone repairers.
0
22,5
45
67,5
90
Exp 1 (qual.) Exp 2 (qual.) Exp 3 (qual.) Exp 4 (quant.)
55
152027 32
853
Positive Negative
How we are refining our partner base : more details on http://bit.ly/1CITALm
Use of commodities
• Wordpress • WPEngine • Strikingly
• Wufoo
• 99design • Invision
• Mandrill • Webhooks
• Slideshare
• Aircall • iMessage
• 3Scale • Run Above • Twilio • FrontApp
About 200€ / month
‣ Means ‣ Affordable loss ‣ Co-creation partnership ‣ Leverage contingencies ‣ Control vs Predict
1. Means (Bird in hand)
November 2013
Let’s see if there is some demand and offer !
Who I am ? What I know ? Whom I know ?
Passionate maker Former startuper Unmet needs SEM expert
One repairer
2. Affordable loss (focus on the downside risk)
November 2013
I had only few € to risk (and also my relationship)
+ +
3. Co-creation partnership (Patchwork kilt)
•My partner ! •Repairers •Parts reseller •Insurances •Concierges
Meeting all these people changed our business a lot.
4. Leverage contingencies (make lemonade)
Not eligible to innovation program ? let’s build innovation !
Some repairs are not satisfied with our offer ? Let’s focus our core customer base and grow it.
5. Control vs Predict (pilot in the plane)
•Staying focus on what we do the best
•Avoiding distractive business ideas
Typical success curve
1. Discovery
Product / Market fit
traction
5+ years2+ years
value creation
temps
2. Growth
growth
hyper growth / scale B
A
What it actually looks likes from the ground
B
A
What it looks likes from above
B
A
So many ways ! Is the line the shortest path ?
B
A
Discovery is always longer than you imagine
We have to adapt
Nothing alike the « right » track
A
B
Back and forth between Excitation and Anxiety
Lean Startup and Effectuation teach us to be in control at any time, and stop predict the future.
So we have to move iteratively, step by step.
Keeping the vision intact, but focus on immediate action and progress consistently.
A
B
Like an explorer : don’t go further than
the danger zone.
A
B
And iterate.
A1
A
B
And iterate.
A1
A2
A
B
And make small mistakes.
A1
A2 A3
This is how we …
• Change our customers several times,
• Changed our offers, • Adapted our final target.
Cut
2+ ans
Problem / Solution fit
Product / Market fit
And cut again
Product / Market fit
reduce client risk reduce
product riskreduce
market risk
Not in a specific order
Specific to our business : focusing on one area, proving the business then scale.
Next slides are pure anticipation for Mobile Angelo, but is based on my past experiences.
Traction
We’ll need to adapt :
Will our vehicle adapted to this phase when we reach it ?
Growth
We’ll need to adapt again
You don’t build an A320 when you need it. It
has to be anticipated (scale the company)
For fun : my first MVP
Short story that summarizes the best « Business »
Infos
• effectuation.org
• http://runninglean.co
• http://mooc.em-lyon.com