Lean Startup for Social Impact
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Transcript of Lean Startup for Social Impact
Lean Startup for Social Impact
Vincenzo Pallotta www.leanstart.ch
So, You Want to Change the World?
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Well, maybe start with something smaller…
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Implement it on a small scale…
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…and if there is traction…
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…then scale it!
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Lean Startup: a mindset shift…
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The Lean approach Minimize Waste Maximize Learning
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Experimental attitude: validate all assumptions!
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Ethnographic Attitude: know your stakeholders!
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If you want to solve a problem…
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An imperfect solution is better than no-solution!
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From Quality to Utility Useless perfect things Useful imperfect things
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Find your sweetspot…
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You need some tools…
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And some resources…
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A perfectly executed plan, can be still a failure…
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…if it fails delivering the right value!
To the right beneficiaries!
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Embrace failure…
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Capitalize on failure… Learn from it!
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What is a pivot?
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Fat vs. Lean Startups
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Impact cannot be predicted
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Lean Startup: are you ready?
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ü You are convinced that in order to develop your project you need to build, measure and learn.
ü You are ready to get out of your comfort zone and your reality distortion field.
ü You accept to get out of the building and face your stakeholders.
ü You accept failure as an opportunity to learn.
ü You are willing to systematically validate all the hypotheses of your business model.
ü You know that you don’t know much about your stakeholder and you want to learn it as fast as possible.
ü You are ready to question yourself and change your strategy several time, without changing the vision.
Tell us your story of how you will change the world…
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� Once upon a time, there was a student named Sofia who wished she could travel across Europe but flight tickets were too expensive for her budget. Traveling alone by train was not an option.
� Every day, she stopped at travel agencies to check if there were some cheap flight deals.
� One day, reading a newspaper she discovered a new airline that offered cheap flight tickets to several Europe destinations.
� Because of that, she could buy tickets for the destination she always wanted to visit and she could learn foreign languages.
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4 main misconceptions about Lean Startup
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Lean Startup generates waste, not avoid it
� When you pivot, you throw away what you have done so far (i.e. an experiment)
� Actually, you plan validation experiments: � Set deadlines � Allocate resources
� Determine progress and success
� Learning is never a waste
� Minimize resources / Maximize Learning
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Lean Startup is against Business Plans
� No, Lean Startup allows you to create a Solid Business Plan for scaling the business!
� Due diligence BEFORE writing the plan.
� Separates the “Search for Product-Market Fit” phase and the “Execution for Scaling phase”.
� Addresses the Market Risk first, and then the Technical Risk (if any).
� Trust first hand facts, not market reports.
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Lean Startup means Cheap/Small
� No, Lean Startup suggest to start on a small scale � (i.e. do validation experiments)
� ..and minimize waste of resources � (i.e. fail fast and pivot)
� Depending on your industry, you might require different types of bootstrap investments: � Services: low investments, only people’s time � Hi-tech products: medium investments (prototypes) � Life-science: high investments (Research and Trials)
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Lean Startup leads to lack of focus because of pivoting
� No, the vision stays. The Business Model evolves.
� In the Build phase of the Validated Learning loop, you focus on the validation experiment.
� Pivoting does not mean going in several directions.
� Pivoting is a necessary measure after a fundamental hypothesis of the BM is invalidated.
� Pivot saves you precious time avoiding going in the wrong direction by figuring out it as early as possible.
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