Tech Talk: Measuring Innovation
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Transcript of Tech Talk: Measuring Innovation
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Measuring Innovation
Ash Maurya - Founder of LEANSTACK, Author of “Scaling Lean”
IET11T
CA ACCELERATOR ZONE
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Solution
Awesome
The Innovator’s Bias
`
?
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Anyone up for some excel magic?
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Traditional metrics like revenue and ROI all track zero or negative at the earliest stages.
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Build velocity, validated
learning, etc.
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Build velocity, validated
learning, etc.
Execution of an untested plan isn’t any better.
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Things get even murkier after launch
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In God we trust, all others bring data. -W. Edwards Deming
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Drowning in a sea of data
WTF?
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Build velocity, validated
learning, etc.
The Dichotomy of the Progress Story
Whatever demonstrates growth
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We need a different measure of progress.
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01 Defining Progress
OU
TLIN
E02 Prioritizing Waste
03 Achieving Breakthrough
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What do both stakeholders and innovators want?
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The hockey-stick curve
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TRACTION matters above everything else
Yay!
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Same data plotted differently
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What is TRACTION exactly?
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Traction is the output of your business model.
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A business model describes how you create, deliver, and capture value.
-Saul Kaplan
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The hockey-stick curve
Track Customer behavior
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Create Value Capture Value Cost (Deliver Value)
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Create Value Capture Value Cost (Deliver Value)>1
VALUE EQUATION
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Create Value Capture Value Cost (Deliver Value)>1
VALUE EQUATION
>=2
MONETIZATION EQUATION
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Create Value Capture Value Cost (Deliver Value)> >=
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TRACTION
The rate at which a business model captures monetizable value from its customers.
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Monetizable value is NOT current revenue but a leading indicator of future revenue.
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Saas
Freemium
Trial
E-commerce
Ad-based
Marketplace
Big Data
User Generated Content
Retail
Media
Community
Membership site
Platform
Open Source
Enterprise
Non-profit
Social
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Saas
Freemium
Trial
E-commerce
Ad-based
Marketplace
Big Data
User Generated Content
Retail
Media
Community
Membership site
Platform
Open Source
Enterprise
Non-profit
Social
3 business model archetypes
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DIRECT MULTI-SIDED MARKETPLACE
$
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DIRECT
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Unaware visitors Happy customers
Direct models
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Unaware visitors Happy customers
Direct models
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TRACTION IN A DIRECT MODEL:
The rate at which you create customers.
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What customer behaviors lead to traction?
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Unaware visitors Happy customers
Direct models
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Unaware visitors Happy customers
Direct models
Time spent in store correlated with money spent
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MULTI-SIDED
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Unaware visitors Happy users
Multi-sided models
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Unaware visitors Happy users
Multi-sided models
Derivative asset
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Unaware visitors Happy users
Multi-sided models
Happy customers
Derivative asset
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Unaware visitors Happy users
Multi-sided models
Happy customers
Derivative asset
Advertisers
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TRACTION IN A MULTISIDED MODEL:
Derivative asset to revenue exchange rate
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MARKETPLACE
$
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Marketplaces
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Happy buyer
Happy seller
Marketplaces
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Happy buyer
Happy seller
$
Marketplaces
Transaction
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Unaware buyers Happy buyer
Unaware sellers Happy seller
$Transaction
Marketplaces
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TRACTION IN A MARKETPLACE MODEL:
The rate of transactions.
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01 Defining Progress
OU
TLIN
E02 Prioritizing Waste
03 Achieving Breakthrough
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Before you can prioritize waste, you have to be able to see the factory floor.
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Unaware visitors Happy customers
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Goal Observe &Orient
Leverage
ExperimentAnalyze
Next ActionLeverage
ExperimentAnalyze
Next Action
Observe &OrientGoal
G O L E A N
30-90 day iterations
1-4 week iterations
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ASH MAURYA @ashmaurya
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