Lean Startup Machine Montreal
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17-Oct-2014 -
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Transcript of Lean Startup Machine Montreal
Hotmailwas a database company
Flickrwas going to be an MMO
Twitterwas a podcasting company
Autodeskmade desktop automation
Paypalfirst built for Palmpilots
Freshbookswas invoicing for a web design firm
Wikipediawas to be written by experts only
Mitelwas a lawnmower company
Most startups don’t know what they’ll be when they grow up.
Wednesday, 18 July, 12
Getting features right matters less.
Knowing what’s not working, quickly, matters more.
Wednesday, 18 July, 12
Building product matters less.
Finding known needs matters more.
Wednesday, 18 July, 12
“We should” matters less.
“What if” matters more.
Wednesday, 18 July, 12
Your roadmap matters less.
Parallel experiments matter more.
Wednesday, 18 July, 12
Business plans matter less.
Business models matter more.
Wednesday, 18 July, 12
http://www.flickr.com/photos/itsgreg/446061432/
Analytics is the measurement of movement towards your business goals.
Wednesday, 18 July, 12
In a startup, the purpose of analytics is to iterate to a product/market fit before the money runs out.
If you remember only one thing...
Wednesday, 18 July, 12
www.solveforinteresting.com
THE ONE METRIC THAT MATTERS
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TransactionCollaborationMedia
SaaSApplicationGame
OMTM must reflect your business model
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Find a need
Find a solution
Find a product
Find a business model
Find an exit
OMTM must fit your your lifecycle stage
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InternalInvestorsCustomers
PartnersAcquirersMedia
OMTM must be tailored to your intended audience
Wednesday, 18 July, 12
What makes a great OMTM?
Ratios and rates, not numbers
Comparative, over time, against a baseline
Your behavior will change when it does
Plugging it into a spreadsheet makes it more accurate
Wednesday, 18 July, 12