Lean Startup 101
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Lean Startup Applied Thursday, March 21st, 2013
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The core process behind using Lean Startup to create customer value and new products in uncharted territory.
Transcript of Lean Startup 101
Lean Startup AppliedThursday, March 21st, 2013
Who Am I?Sam Hysell@shysell13
Strategic Partnerships @ LSM
OUR MISSION:ADVANCE THE SCIENCE OF ENTREPRENEURSHIP
What You Got Yourself Into
What It Means to Be LeanWhy Startups Fail
Running a Lean Startup for Social GoodValidation Board
Lean Manufacturing
The expenditure of resources for any goal other than the creation of value for the end
customer is wasteful
What is Lean Startup?
A process involving rapid and iterative experimenting to test assumptions and develop
a product that customers actually want.
What is Lean Startup?
A process involving rapid and iterative experimenting to test assumptions and develop
a product that customers actually want.
What is Lean Startup?
A process involving rapid and iterative experimenting to test assumptions and develop
a product that customers actually want.
What is Lean Startup?
A process involving rapid and iterative experimenting to test assumptions and develop
a product that customers actually want.
Startups that succeed are those that manage to iterate enough times before running out of
resourcesEric Ries
Focus on what works, but more importantly, what doesn’t, so you can pivot before you’re out
of resources.
Pivot:A change in strategy without a change in vision
Why Do Most Startups Fail?
Most of the time, it’s not because the product/service couldn’t be built...
It’s because nobody wanted it!
No business plan survives first contact with a customer
Steve Blank
Neonurture
Neonurture“Design That Matters learned an important lesson from the experience -- that good design must keep in mind
who will procure equipment, who will be using it, as well as the myriad ways it could be used incorrectly. As
Timothy says, "There's no such thing as a dumb user; there are only dumb products.”
“My Solution is Awesome”
Not can it be built
but...
Lean Startup
Should it be built?!Ex. Neonurture
Fail Fast. Succeed Faster.
Invalidate My Assumptions
Get Out of The Building
What Takes You 6 Months Took Me 3
Days
A startup is a human institution designed to deliver a new product or service under
conditions of extreme uncertainty.
Eric Ries
Replace uncertaintywith data
Your mistake was in unthinkingly treating what you imagined as though it were an accurate
representation of the factsDan Gilbert
Feynman Chaser - The Key to Science
http://youtu.be/b240PGCMwV0
So You Have a Good Idea?
Prove It!
3 Startup Stages
- Pre-product Validation- Product Building- Scale
Turn assumptions into hypothesis
Step 1 of pre-product validation
Customer Development
Customer Development
Problem/Customer fit. No solutions.
Customers don’t care about your solution.They care about their problems.
Dave McClure
Customer Development
How?
Getting out of the building (GOOB’ing)
Why?
Experiments designed to invalidate your riskiest assumption
Minimum Viable Product (MVP)
Maximize customer learnings, minimize waste
MVP Stages
- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
MVP Stages
- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
ExplorationGet your idea out of your head,
go to where your customers are.
Talk to them. And be prepared to prove
yourself wrong.
Pitch - Measure Demand
Value Propositionin exchange for
Currency
MVP Stages
- Exploration - Find Pain- Pitch - Measure Demand- Concierge - Productize
Skillshare
Skillshare - Concierge
Food On The Table
Any Service
