A startup story - Why you should care about being a lean startup

A Startup Story

Why you should care about being a Lean Startup

© 2013 //SEIBERT/MEDIA GMBH

TwentyFeet – Check your Track

© 2013 //SEIBERT/MEDIA GMBH

The exit – bought by SumAll

© 2013 //SEIBERT/MEDIA GMBH

September 2010:Launch with Feature

by Robert Scoble

Our startup journey

September 2009:

Ideation

Start of Prototyping

January 2010:Software-Development

with Team of 5

Autumn 2010:Payment Feature

March 2011:Growth Booster

Performance Tweet

July 2013:Sold to SumAll

July 2012:Lean Startup Team

© 2013 //SEIBERT/MEDIA GMBH

Lean Canvas for TwentyFeet

› Painful aggregation of data over different services

› Easy to use› One-shop-

stop for Social Media Metrics

› One tracking

for all services› Personal

analytics dashboard

› Number of User (later: Active Users)

› Revenue

› Scrum team financed by existing business

› Social Media Heavy User (Twitter, Facebook, …)

› Small businesses

› Hosting› Development

› Freemium › Micro payments

› Marketing

› Performance tweet

1 234

5

67

8

1 9

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned

1. Don't fall in love with your solution

2. Focus on delivering value in the first place

3. Capture the customer value from the beginning

4. Vanity metrics suck

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned - Don't fall in love with your solution

Image: Ash Maurya

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned - Focus on delivering value in the first place

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned - Focus on delivering value in the first place

Problem / Solution fit

Product / Market fit

Scale

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned - Capture the customer value from the beginning

© 2013 //SEIBERT/MEDIA GMBH

Lessons learned - Vanity metrics suck

# of usersrevenuerevenue per user

© 2013 //SEIBERT/MEDIA GMBH

Summary

Lessons learned

› Don't fall in love with your solution

› Focus on delivering value in the first place

› Capture the customer value from the beginning

› Vanity metrics suck

Stay in contact:› Gerulf: Twitter / LinkedIn › Paul: Twitter / LinkedIn

© 2013 //SEIBERT/MEDIA GMBH

Sources

› Focus on Value: rethwill on flickr › Capture Value: eioua on flickr