Innovate Like A Startup

Innovate Like A Startup! Using the Lean Startup Methodology to ignite innovative projects

Coach Davender Gupta @coachdavender Startup-Académie www.startupacademie.com www.coachdavender.com 514-448-1894 / 418-948-1553 [email protected]

Business is evolving

© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved

The economy is evolving…

The rules of the market are evolving…

Consumers are evolving…

Options are evolving…

Expectations are evolving…

Business also needs to evolve

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Look at business from a new angle


Today’s successful businesses are

-  personal -  plugged-in -  distinctive -  agile

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People don’t care about

what you do. They care about

what you can do for them.

© 2014 Davender Gupta - www.startupacademie.com – All Rights Reserved 4

MY Ideas Passions Needs Dreams Interests Desires

Resources

Ideas Passions Needs Dreams Interests Desires OF OTHERS


PROFIT ZONE

NO MEANS

NO DEMAND NO ENERGY

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The Business Model

A business model describes how you:

•  create,

•  deliver, and

•  harvest value.


What’s a startup?

A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.

- Eric Ries


What’s a startup?


A startup is a project which has as goal the search for a duplicatable and scalable business model.

- Steve Blank

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GR

OW

TH

Is your solution the new standard for the market? Market Leader EF

FIC

IEN

CY

Can you deliver the solution efficiently and effectively? Capability Maturity Index V

ALI

DA

TIO

N

How much does the market want this solution? Product-Market Fit D

EFIN

ITIO

N

This idea solves what important problem for the client? Problem-Solution Fit ID

EA

Idea or concept

Startup Stages Of Growth


The Startup Mindset


Aims to solve an important problem for the user by creating an offer which generates a huge added value for all stakeholders, and with the goal to become the new standard for the market.

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The Huge Added Value

How does solving the problem change or improve the user’s quality of life?

Return On Use Does your solution offer enough added value to motivate the user

to take out their wallet?


Is it worth it?

Is it a problem or opportunity

which justifies the investment of

millions of dollars and

thousands of hours of effort? © 2014 Davender Gupta - www.startupacademie.com –

All Rights Reserved 12

The Big, Hairy, Audacious Game


What you are passionate about

What you can be the best in the world at

What generates exponential

economic value

Your BIG, HAIRY AUDACIOUS GAME

Mission, Vision, Values

Live Your Full Potential Game-Changing Results

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Find the WOW!

Does it make a difference ? l  Find the emotion

Does it go to the root of the problem ? l  Find the transformation

Does it communicate what’s important to you? l  Find the message

Does it evolve with people’s needs and wants? l  Find the learning

Does it spark a community ? l  Find a tribe

- Inspired by Tom Peters


Game-changing results

The primary strategy of the startup is to provoke a disrupt which interrupts the status-quo to create a quantum change in added value

•  The Innovator’s Dilemma

•  Blue Ocean Strategy


Discover the DISRUPT

© 2013 Davender Gupta - www.startupacademie.com All Rights Reserved v20130429 16

How do you change the rules of the competitive game?

The gold is in the DISRUPT.

The Four Disrupts


Offer (What): l  New offers (products or services) that did not exist up to now

(invention)

Process (How): l  New products or methods that allow the offer to be produced

faster, cheaper, more durable, better quality (production)

Market (Who): l  Opening a new market segment poorly served until now, by

making minor modifications to one’s product or service (marketing)

Value (Why): l  Meeting a need that is valued by an existing market, but not

satisfactorily met by competing offers, and doing it better than the competition (positioning)

HYPOTHESIS

build

DELIVER

measure

METRICS

learn

Find the disrupt


Hypothesis

Should we build this? Can we build a profitable

business model around this?

Value Hypothesis: l  Test if the solution really solves the client’s problem

Growth Hypothesis: l  Test how the client finds your solution and how much

they are committed to it


The Pivot


Changing the strategy, the business model, the solution or even the problem, to improve the value-added which is recognised and rewarded by the target customer.

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What Startups Do

The fundamental activity of startups:

•  transform ideas into tests,

•  measure how users respond,

•  decide to continue or to pivot

until you can clearly identify who recognizes the value of what you offer and who are ready to commit.


Validating the Idea


« The problem is that startups fall in love with the solution too early.

They don't focus enough on the foundation of vision and strategy to make sure it connects to what people want and use. »

-- Ash Mauriya

Validating The Idea


Everything which comes out of your brain is a HYPOTHESIS. You must VALIDATE every element through -

•  Discovery (your own data) •  Research (other people’s data) •  Testing (simulation, MVP)

to discover the DISRUPT.

Discovering the Disrupt


Discover

What you know

That you know (belief)

That you don’t know

(hypothesis)

What you don’t know

That you know

(intuition)

That you don’t know (discovery)

Startup Success Strategy

Ø Capture ideas

Ø Define hypothesis

Ø Validate hypothesis

Ø Select and refine the idea

Ø Execute strategically and tactically


It’s all about speed

Accelerate the learning cycle

…to reduce the time between pivots

…to increase the impact of the offer and its chances of success

…until you run out of resources.


« Search versus execution »

If your business model is unknown - that is, just a set of untested hypotheses – you are a startup searching for a repeatable business model.

Once your business model is known, you will be executing it. Search versus execution is what differentiates a new venture from an existing business startup.

- Steve Blank


Time to make a dent in the world!

Unreasonable passion l  You can’t sleep because

you’re so excited

Irresistable l  Attracts people and resources

Audacious l  Disciplined execution to deliver a positive

disrupt to the status quo


Suggested reading


Keep in touch!

www.startupacademie.com www.coachdavender.com

(Québec) 418 948-1553 (Montréal) 514 448-1894 [email protected]


Coach Davender Gupta, MSc

Venture Catalyst Accélérateur d’entrepreneuriat

Startup-Académie

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