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My presentation about Lean Startup and Customer Development model for the Italian Agile Day 2010 on November 19, 2010 - Genova (IT).
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The Lean Startup and Customer development model. In Italy.
Nicola Junior VittoBlomming
Agile Day - November 19, 2010 - Genova@njvitto - @[email protected]
What’s a startup?
A startup is first of all an experiment, it is a human institution designed to deliver a new product or service under conditions of extreme uncertainty
(From Lessons Learned blog By Eric Ries)
Ideas
How important are ideas?
Team
Team is the key
Passion
It’s very difficult to succeed without passion
Bootstrapper
You can be a bootstrapper, too.
Market research
Market: B2C
B2C
Market: B2B
B2B
Market: B2B2C
B2B2C
Business Plan
Go Ahead
Having a good idea, a proved and experienced team,
market research and a good plan...
...last missing thing is...
Money
VC Funding
Venture Capitals or Angel Investors can give you money based on your plan
And then?
(Classic) Product Development
Development: Waterfall model
Waterfall
Problem: known Solution: known
What’s wrong?
9/10 Startups fail
66% of successful changed plans
58 ideas = 1 success
What’s the problem?
Lack of customers
What’s the problem?
Build a product no one wants
What about Business Plans?
No business plan survives
the first customer contact
What about Business Plans?
Plans are for a known futurenot for a startup context
So, plans fail in startups
Assumptions on Product Development
Business Models
It’s all about business models
What’s a Lean Startup?
Lean startup is a rigorous process for iterating from Plan A to a plan that works.
(by Ash Maurya)
Lean is not cheap
Lean Startup cycle
Open Source software
Lean startup is...
Open Source software
Cloud computing architectures
Lean startup is...
Open Source software
Agile methodologies
Cloud computing architectures
Lean startup is...
XP
“Product owner” or“in-house” customer
Problem: known Solution: unknown
Agile (XP)
...but in startups problem is unknown
“Problem” in startups
What can help me?
“Problem” in startups
Customer Development
Four Steps to the Epiphany
Business Plans
While the death of the business plan as a method to engage investors is a welcome development, it doesn’t eliminate the need to think through your business – a process aided by, ironically, the writing of a business plan.
Business Models
We said:“It’s all about business models”
Business Models Canvas
Many different business models
The same technology, product or servicecan have many different business models
OODA Loop
Sketch out your Business models
Iterate on guesses (set of hypotesis)
Iterate fast and often to find your business model
Business Models (examples)
Free/Adv Freemium
Customer Development: pivoting
Customer Development: pivoting
Get out of the building (by Steve Blank)
Your business assumptions can be wrongGo out and speak with your customers
AARRR Metrics
By Dave McClureMore on: http://500hats.typepad.com/
Initial hypotesis must be precise to be measured
Product/Market fit
Customer Development: scaling
Scalable startup
Scalable startup
Scalable (lean) startup
What’s a Lean Startup?
Problem: unknown
Solution: unknown
A classic full-featured product
Yes...it can be well organized, but not all features are required to your lean startup.
Minimum Viable Product
MVP: A product with the fewest number of features needed to achieve a specific objective, for which users are willing to ‘pay’ in some form of a scarce resource.
Intermediate MVPs
Intermediate MVPs test high risk components of the business model.
Final MVPs test the business model
MVP Evolution (example)
Early Adopters
The MVP is for your first customers: they are called Innovators and Early adopters.
Blomming experience
Search for Money
We had a plan and a (good?) idea
Search for Money
No money for ideas
Blog-Magazine: LikePicasso
Minimum Viable Product
Embed for blog and websites
Product Management
Embed (demo on AllaCanonica.it)
Cart + checkout
Checkout - Shipping data
Order Status
Dashboard
MVP 2
SocialApp
Embed for blog and websites
Sociable product
Product on Social Media
MVP 3
API
StorefrontWeb App
Mobileetc.
SocialApp
Embed for blog and websites
IT vs USA
American dream?
America isn’t the only place to run a startup
Dreaming America!
It doesn’t mean that can’t be so good (for the growth)
Inverted Pyramids
Funding Pyramid
In Italy
In Italy there is a similar modelwith A LITTLE Ecosystem of investors and startups
Few investments with orders of magnitude lower on startup value
In Italy
Capital research for italian startups (*)
• Success requires investments and venture capital
• The 97% is in search of a funding
• The initial capital is of €33k
• The 19% received some form of external investment
(mostly scholarships)
(*) from: Infoservi.it and Mind The Bridge Competition 2010
Market: B2C
B2C
Market: B2B
B2B
Market: B2B2C
B2B2C
YOU
MUST
YOU
MUST
YOU
SCALE
Lean Startup Meetup - Bologna
http://www.meetup.com/Lean-Startup-Bologna-Meetup
Useful on how to pitch investors
Work only from 9 to 5
Is it possible?
An alternative?
Lifestyle business
HackFwd
http://hackfwd.com/More info on:
Thanks
Blomming.comMagazine.blomming.com
Twitter.com/BlommingFacebook.com/BlommingPersonal blog: njvitto.com
[email protected]@blomming.com
