2. Lean St artupLean Analytics h3p://www.ickr.com/photos/gianpierre_soto/5505817770/sizes/l/in/photostream/ 3. A BIT ABOUT ME SERIAL ENTREPRENEUR MENTOR & ADVISOR BIG BELIEVER IN LEAN 4. Running LeanPowers the Best Startups 5. The Seven Myths ofLean Startups 6. #1: Lean means cheapSure its cheaper to start companies but it still costs money to scale them. The lesson is simply this: know when to hack and know when to scale. 7. #2: Lean means smallYou need a Big Vision to Win. DREAM BIG! 8. #3: Lean means, wellcrappyAn MVP is meant to be a minimalistic version of your product, but it also has to be viable. 9. #4: Pivot is a Bad WordThe future is a road paved with changes ahead. 10. Dont be afraid to PivotListen to what youre the market is telling you. 11. A ClassicPivotMoney transfer via a PalmPilot. Sounds crazy, right? 12. Eventually became PayPalIn October 2002, PayPal was acquired by eBay for $1.5-Billion 13. h3p://www.smallbiztechnology.com/archive/2012/07/learning-from-failure.html/ 14. #5: Lean is only for consumer startups Lean Startup has gained most of its adoption amongst consumer startups, but it applies across the board. 15. #6: Lean means easyStartups are hard. Lean simply helps mitigate riskand clear the path a bit more, but its not easy. h3p://www.ickr.com/photos/sabaNzer/6360925767/sizes/l/ 16. h3p://www.ickr.com/photos/laNtudes/66424863/sizes/l/ #7: Lean means instant successYou cant walk through the process and expect to win. It takes guts, luck, brains and much, more more. 17. The Seven Myths ofLean Startups#1: Lean doesnt mean cheap#2: Lean doesnt mean small#3: Lean doesnt mean crappy#4: Dont be afraid to pivot#5: Lean isnt only for consumer startups#6: Lean doesnt mean easy#7: Lean doesnt mean instant success 18. Lean does mean makinginformed decisions. 19. For most startups, leanmeans measuring:1. Acquisition2. Activation3. Retention4. Referral5. Revenue 20. Not listening to what the metrics are telling you can spell disaster. 21. Know When to PivotLack Revenue| High Churn| Poor Conversions 22. Know When to ScaleAdoption | Conversions| Market Shareh3p://www.ickr.com/photos/lanier67/4047779644/sizes/l/in/photostream/ 23. Lean means stop guessingFinding that one metric that tracks your progress towards a goal. 24. Balancing ActMost successful entrepreneurs have a good balance of execution intuition and luck.h3p://www.ickr.com/photos/classblog/5136926303/sizes/l/in/photostream/ 25. Most startups fail because the founders give uph3p://www.ickr.com/photos/kcnickerson/1008563510/ 26. Hard Work Pays OffSo Dont Give Up! 27. Recommended ReadingLean Startup | Lean Analytics | Running Lean 28. Contact Me:E-Mail: email@example.com Twitter: @thomjeffSome of the photographs in this presentaNon were retrieved from Flickr and made available under a CreaNve Commons license. Please refer to each photograph for a link to the image source.