run a smarter business

Today

What we’ll do today

learn what Lean Startup ispitch ideas

do customer validationlearn more about UX and

experiments

Tools and Books

Tools

Books

New Startups

400,000

Lean Startup 101

buildbuild

measmeasureure

learnlearn

buildObjective: to learn something via MVP

- landing page- street sign

- customer interview scripts- lean coffee

- not necessarily code

measureObjective: to see progress

- Acquisition- Activation- Retention

- Referral- Revenue

“pirate metrics”

learnObjective: uh, to learn?

- review metrics- pivot? persevere?

- create options for next MVP

Business Model Canvas

PROBLEM SOLUTION

METRICS

UVP UNFAIRADVANTAGE

CUSTOMER SEGMENTS

CHANNELS

COST STRUCTURE REVENUE STREAMS

ExistingAlternatives?

Validation Canvas

Tracking Experiments

Assumption To Do In progress Done Insights

MVPs

busy people want a better way to make

decisions faster

landing page

pitch night

people thought

this would be used in

meetings

twitter account

setup WP

make logo

slide deck

buffer tweets

followagile

folks on tw

create script

The Pitch

Where to Start?

NEW ID

EA

EARLY

STA

GE

1ST

MVP

LIVE

ESTA

BLISH

ED P

RODUCT

- alternatives?- market research?- look for innovators- less formal approach

- test riskiest assumptions- MVP may not be SW- website/landing page- customer interview scripts

- pirate metrics- split testing- app metrics- SEO testing

- pirate metrics- agile development- feed backlog using data- customer communities

THERE IS NO ONE RIGHT WAY!

Stories

Sebastian Dwornik

Handouts

Lean Startup 101

buildbuild

measmeasureure

learnlearn

buildObjective: to learn something via MVP

- landing page- street sign

- customer interview scripts- lean coffee

- not necessarily code

measureObjective: to see progress

- Acquisition- Activation- Retention

- Referral- Revenue

“pirate metrics”

learnObjective: uh, to learn?

- review metrics- pivot? persevere?

- create options for next MVP

Business Model Canvas

PROBLEM SOLUTION

METRICS

UVP UNFAIRADVANTAGE

CUSTOMER SEGMENTS

CHANNELS

COST STRUCTURE REVENUE STREAMS

ExistingAlternatives?

1) Customer Segments: Who has your problem?

2) Problem: What problem are you trying to solve? List a few.

3) UVP: What is unique about your offering compared to competitors?

4) Solution: What is the solution to the problem you’re trying to solve?

5) Channels: Where will your solution be offered?

6) Revenue Stream(s): How will you make money?

7) Cost Structure: What are your estimated costs?

8) Metrics: How will you measure progress to solving the problem?

9) Unfair Advantage: What is it about your company that gives you an edge?

10) Existing Alternatives: Who are your competitors?

Business Model Canvas

Validation Canvas

1) Create your customer, problem and solution hypothesis:

IE: Problem hypothesis - managers are over-burdened with meetings and needa faster way to make decisions.Solution hypothesis - managers will use an app that will help them reduce the amountof time spent in meetingsCustomer hypothesis - any company who has people that aren’t in the same building

2) Brainstorm your assumptions:- managers feel over-burdened with meetings- people would use an app vs calling meetings (behaviour change)

3) Identify your riskiest assumption:- people would use an app vs calling meetings (behaviour change)

4) Validated or Invalidated?- neither, learned after the pitch people thought this tool would be used IN the meeting

5) Pivot:- more clear language and a simple working version of the appValidation Canvas

Example

Experiment Canvas

Assumption To Do In progress Done Insights

MVPs

busy people want a better way to make

decisions faster

landing page

pitch night

people thought

this would be used in

meetings

twitter account

setup WP

make logo

slide deck

buffer tweets

followagile

folks on tw

create script

Where to Start?

NEW ID

EA

EARLY

STA

GE

1ST

MVP

LIVE

ESTA

BLISH

ED P

RODUCT

- alternatives?- market research?- look for innovators- less formal approach

- test riskiest assumptions- MVP may not be SW- website/landing page- customer interview scripts

- pirate metrics- split testing- app metrics- SEO testing

- pirate metrics- agile development- feed backlog using data- customer communities

THERE IS NO ONE RIGHT WAY!

Metrics

AcquisitionActivationRetentionReferralRevenue

Good Metrics

new customers, IE signed upnew customer uses your productthat customer comes backthat customer tells other peoplethat customer pays you

Other Measures:- conversion rates- funnel progress- data from keywords used for SEO

Vanity Metrics

Bad MetricsTwitter followersFacebook likesWebsite visitors (with no actionable data)Page viewsMarket research (“if I get 3% of that market!!)

If it makes you feel good and the metric doesn’tfit into AARRR it’s probably a vanity metric!

Tools and Stuff

Landing Pages- www.unbounce.com- www.launchrock.com- www.landerapp.com

Metrics- www.piratemetrics.com- www.kissmetrics.com- www.google.com/analytics

Other Stuffwww.leanstartupmachine.com/validationboardwww.leanlaunchlab.comwww.leanstack.comwww.wufoo.comwww.mailchimp.com

More Stuffwww.chargify.comwww.verifyapp.com