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ThiyagaRajan Mtwitter.com/mtrajan
Currently – Founder - Hano (IntuitLabs), Fellow @ iSPIRT,
Previously – Sr. Product Manager, Innovation Leader (Intuit), Entrepreneur (Mobile),
Engineer
Communities – LeanMantra, MoMoB.in, ProductConclave.in
Story 1 – What games will work for Indian Audience ?
Story 2 – Offline vs Online consumer behaviour in crafts
"A startup is a human institution designed to
discover & create a business under
conditions of extreme uncertainty"- Steve Blank
Uncertainty - Unknown Unknown
To boldly go where no man has gone before
Discovering Unchartered Territories
Documented by
Eric Ries
Steve BlankAsh Maurya
Tristan CromerSean Murphy
Rammohan
Natwar
Arvi
Foundation laidby Closer home
Toolset – MVP (Minimum Viable Product)
Debug before you build
Startup Big Business
IdeaProblem/Solution Fit
User/Experience Fit
Product/Market Fit
Business Model/Growth Fit
Uncertainty Decreases
Stages
Risk Decreases
Psychologically Certainty, Intellectual Uncertainty
“A true scientist believes in a model/theory enough to continue to be motivated to work on it
but questions it when the observations shows differently”
- Richard D Hamming
Funding for learning vsgoals
You don’t get funding for explicitly stating a learning goal in your pitch to a VC
Quick MVP Primer
Coined by Frank Robinson
smallest possible experiment to test a specific hypothesis, all
the way up to the tangible realization of a product vision
Things to keep in mind (MVP)
• Every idea has a different MVP– B2C
– SMB
– B2B
– Mobile
– Web
– Physical Products
Each take different shape & form
Things to keep in mind (MVP)
• Is not a stripped version of the product
• It is a customer risk reduction tool for customer
• Can also be thought as your idea debugger
• At very first level represents value proposition rendered in some form that target customer can experience and react to.
Extra Slide –Dissecting Ideas(Platform version)
• Value and Growth Hypothesis seem mixed.
• Separate side value hypothesis but should include end to end interaction. – Façade one side to simplify and seed
• Even manually if needed
– Trust is super critical for liquidity– Curation is another important
•
To Recap 3 Lean Mantras
• Riskiest Assumption ?
• Document Expected Before, Measure Observed Actual
• Deep understanding of customer world backed by facts
Glossary
• MVP – Minimum that needs to be built to complete learning about an important assumption
• Pivot – Vision is the same, change in Strategy
• Rivot – Different from Pivot where even the idea changes
• Hypothesis – Verifiable statement often stated in quantitative terms
• Metrics – Measure of change expressed in unit.
• Validated Learning – Learning that is backed by demonstrable fact