Lean IDEAinstitute; 3 tools for getting started with lean startup

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© LearningHacks 2014

Are you ready?

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Getting LeanEssential Tools for Running a Lean Startup

Lean 2 Win3 to Make Your Startup a Huge Success

Which session do you want?

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What do you want from today?

To learn everything

you need to launch a

wildly successful venture.

or

To learn: • What the business

model canvas is• Why the canvas is

important to me• What the scientific

method is• How to think like a

scientist• How to think about

customers• What I can learn from

customers

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Who ( ) says I am

J. Anthony MiguezFounderAdvisor

EIRHead of Strategy

Talent Management Solution ArchitectGeneral PartnerLimited Partner

Blogger

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Who (I think) I Am

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Question #1

Q: What is a startup?

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Question #1

Q: What is a startup?A: Enterprise where…

“unknowns” > “knowns”

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Question #2

Q: What is a startup’s scarcest resource?

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Question #2

Q: What is a startup’s scarcest resource?A: Time

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Question #3

Q: What is “lean”?

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Question #3

Q: What is “lean”?A: Resource efficient approach

to turning “unknowns” into “knowns”

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Lean Startup

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Three Tools

CUSTOMERDISCOVERY

CUSTOMERVALIDATION

SEARCH

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Business Model Canvas

I BMC

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Why The BMC?

• Flexible• Focusing• Visual language• Common language• System• Stakeholder alignment

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BMC OverviewKe

y Pa

rtne

rs

Customer Segm

entsValue

Proposition

Cost Structure Revenue Streams

KeyActivities

KeyResources

CustomerRelationship

Channels

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OperationsKe

y Pa

rtne

rs

Customer Segm

entsValue

Proposition


KeyActivities

KeyResources


Channels

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FinanceKe

y Pa

rtne

rs

Customer Segm

entsValue

Proposition


KeyActivities

KeyResources


Channels

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Product/Market FitKe

y Pa

rtne

rs

Customer Segm

entsValue

Proposition


KeyActivities

KeyResources


Channels

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The Evolving BMC

Checklist

Story

Pattern

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Canvas Stories

Why stories matter:• They engage• They provide context• They build relationships• They illustrate success and failure• They allow for reflection• They slow things down• They show the how and whys• They show multiple perspectives• They help us unlearn• They spread!

Borrowed and bastardized from Craig Wortmann’s awesome book, “What’s Your Story”

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Canvas Stories

[company name] [value proposition] to/for [customer segment].

We deliver our value via [channels] by [key activities/resources/partners].

Through our [customer relationship] we are sustainable because

our [revenue streams] exceed our [cost structure].

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Canvas Stories

What does your canvas say?

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Business Model CanvasKe

y Pa

rtne

rs

Customer

Segments

ValueProposition


KeyActivities

KeyResources


Channels

Q: So you have done all this work on your BMC and what do you have?

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Business Model CanvasKe

y Pa

rtne

rs

Customer

Segments

ValueProposition


KeyActivities

KeyResources


Channels

A: A great set of guesses!

? ?? ? ??

?? ?

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Scientific Thinking

When you assume you…

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Scientific Thinking

PIVOT?

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Experiment Design

Successful Experiment Design Defines:• Assumptions (problem not feature focused)

• Riskiest assumption

• Learning objectives

• Measurement plan

• Minimal Viable Product (MVP)

• Minimum Success Criteria

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Experiment Design

Types of experiments:• Interviews

• Concierge service

• “Wizard of Oz”

• Landing page

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Scientific Thinking

So what are you going to test?

1. Describe your assumption2. Define your experiment3. State your hypothesis

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Customer Development

CUSTOMERDISCOVERY

CUSTOMERVALIDATION

SEARCH

CUSTOMER CREATION

CUSTOMERBUILDING

EXECUTE

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CUSTOMERDISCOVERY

CUSTOMERVALIDATION

SEARCH

Customer Discovery answers:• Who your customer

segments are• What they value in your

product/service

Customer Validation answers:• Can the business scale• Is there a repeatable and

scalable sales model• Is the sales funnel

predictable

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CUSTOMERDISCOVERY

Think and Feel• Major preoccupations• Worries and aspirationSee• Environment• Friends• What else in the marketSay and Do• Attitude in public• Appearance• Behavior towards others

Hear• Friends say• Influencers• Boss/familyPain• Fear• Frustration• ObstaclesGain• Wants/needs• Measures of success

Customer Definition

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Describe your proto-typical “early-adopter” customer to your

neighbor.

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Thank You

All resources can be found here

http://bit.ly/1qsCF78

I can be found here@janthonymez

Lean IDEAinstitute; 3 tools for getting started with lean startup

Business

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