Lean StartUp Talk at Miami Shark Tank Workshop
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Transcript of Lean StartUp Talk at Miami Shark Tank Workshop
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Lean Startup Business Model
Illustrations by Fake Grimlock from “The Lean Entrepreneur” by Brant Cooper and Patrick
Myriam OchartLean Compliance Partners
(954) 425-2656
Lean Compliance Partners
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Presented by:Myriam Ochart, ASQ CSSBB, CMQ/OELean Compliance Partners
Copyright© 2011
• Myriam Ochart (954) [email protected]
- Certified Six Sigma Black Belt - Certified Quality Manager/ Organizational Excellence- Lean Practitioner - Certified Quality Auditor- Past Examiner on the Baldrige criteria
Lean Compliance Partners
Apple
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What is the Lean Entrepreneur
Lean Entrepreneur− Anyone creating a new product or service
in the face of extreme uncertainty− Has a learning culture at it’s core− Customer needs is front and center of all
activity
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Lean EntrepreneurExtreme
UNCERTAINTY
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The Lean Startup Culture
Proximity to your customer is part of your fundamental DNA
Puts data before rhetoric Testing before execution Customers before business plan Runs experiments to reduce risk Uses data to resolve conflicts Interacts with customers to understand them
deeply
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Concept Generally NOT FOR
Small businesses: dry cleaners, retailers, franchises, …
Business owners satisfied with the business they’ve built – Congratulations!
Solo practitioners generating income via “projects”
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Traditional
Awareness
Decision
Purchase
Product Experie
nce
Innovation that has a predictable effect on a known market is sustaining
an existing market and isNOT
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Lean Start-up
Vision Values Culture Market Profiling - Personas
Value Stream Hypothesizing Viable Testing
Value Validation Funnel Validation
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Iteration Vs. Innovation
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Example: Disruption Innovation
Open source software (free use of code) Internet, mobile, laptops, PDAs, GPS, LinkedIn,
Facebook, Twitter, the Matrix… Software as a service: Uber, Cloud, PayPal,… Crowdfunding Digital fabrication:
− 3D modeling− new manufacturing technology producing models,
prototypes, and functional products
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Example: Disruption InnovationProsthetics limbs – engineering solution to a problem – not a design solution
3D printing of unique prosthetic limbs – Lifestyle Function Art Human emotion
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Lean Startup MarketingNever Forces the Market
Creative people, pseudo-
psychologist leveraging consumer
emotion to create product need – Super
Bowl ads…
Does not use UNTIL it can
demonstrate that the market segment
is PASSIONATE about the product
AND the method of
converting prospects to consumers is OPTIMIZED
Google analytics
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Personas
Is a representation of the goals and behavior of a group of users. Personas are synthesized from data collected from interviews with users.
• Actively fighting the security breach
• Estimating the potential risk of exposed assets
IT Manager and CIO experience the same problem Network Security
BUT they don’t speak the same language
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Ask Your Market
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Market Segmentation
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Optimized Market Conversion
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Clues of Different SegmentsDepth of pain or passion is markedly different They hang out in different places – Facebook versus
Expect different solutions – fast food versus a sit-down meal
Expect different distributions – online versus brick and mortar
Expect different sales methods – field sales versus e-commerce
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Segmented Market - Solve a Need
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MVP - Most Valuable Play
Minimum Viable Product First attempt to deliver VALUE to your
customer Comprised of the least amount of
functionality necessary to solve a problem SIGNIFICANTLY– In turn, your customer will engage with your
product and PAY you for it
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MVP – Launched Product
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Minimum Viable Product
“If you are not embarrassed by the first version of your
product, you’ve launched too late.”
Reid Hoffman, founder of LinkedIn
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What Entrepreneurs FEAR
A buggy product will kill the Brand
Customer will leave behind an unfinished product and NEVER RETURN
Idea will be stolen
Launch when a set of users would be excited about your product because they can NOW do
something they couldn’t do before.
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Connect with Customers
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Experiment
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Leap to the Future
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MVP Today – Launch product
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Presented by:Myriam Ochart, ASQ CSSBB, CMQ/OELean Compliance Partners
Copyright© 2011
Lean Compliance Partners
Thank you
Gracias