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WHAT IS A STARTUP?
„A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty and has nothing to do with size of company, sector of the economy or industry.“
Scale
Optimize
Economics
Promise
Product / Market Fit
„The real reason most startups fail
is that the fail to build something
that people
actually want
to use and
pay for.“ DANGER ZONE
LEAN
problem unknown solution unknown
ITERATIONS
CUSTOMER DEV. Data, Feedback, Insights
Hypotheses, Experiments, Insights
LEAN STARTUP
„Lean Startup is a systematic process for iterating from Plan A to a plan that works before running out of resources.“
• WE ELIMINATE UNCERTAINTY • WE WORK SMARTER, NOT HARDER • WE CREATE ORDER
SCOPE I) Problem/Solution Fit
„Do I have a problem worth solving“
II) Early Traction
„Have I built something people want?“
III) Product/Market Fit
„How do I scale?“
PROBLEM/SOLUTION FIT 1) Document your plan A
business model canvas
2) Formulate an implementation
product > strategy > vision
3) Invite early adopters
MVP (Minimum viable product = the smallest solution that delivers customer value)
EARLY TRACTION 4) Measure progress
AARRR!
5) Deliver value before growth
Unique value proposition
6) Qualitative learning
A/B testing, interviews, ...
AARRR!
ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
How do users find you?
Do users have a great first experience?
Do users come back?
How do you make money?
Du users tell others?
UNIQUE VALUE PROPOSITION
• For (target customers) • Who are dissatisfied with (the current alternative)
• Our product is a (new product)
• That provides (key problem-solving capability) • Unlike (the product alternative).
PRODUCT/MARKET FIT 7) Identify growth engine
Paid, organic & viral sources
8) Measure everything as a cohort e.g. average revenue per customer over time
9) Build feedback loops
e.g. user support
10) Insights are usually hidden within failed experiments.
ABOUT US Founded in 1999, LAB75 Design GmbH is running three design and innovation hubs in Frankfurt, Berlin and Zürich by today. The workforce around Marco Bahn and Wolfgang Weicht consists of an international multidisciplinary team covering all aspects of an integrated industrial design process.
A variety of long term partnerships with collaborating design and software engineering studios as well as mechanical engineers and production facilities for real world products complete our external network and reflect our focus on rapidly evolving goods and environments.
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