Lean StartupIntroduction
@JaumeTeixiBarcelona
29/03/2012
Lean Startup BCN :: Inaugural Meeting
Entrepreneur
The Business Model Canvas
Startup
A startup is an organization formed to search for a repeatable and scalable business model.
2010, Steve Blank
A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
2010, Eric Ries
Customer Development
Test the founders hypothesis about the customer problem
Test if the product concept and minimum feature set solve that problem
Steve Blank
Lean Startup
The use of platforms enabled by Open Source and Free Software
The application of Agile Development Methodologies
Ferocious customer-centric Rapid Iteration, as exemplified by the Customer Development process.
2008, Eric Ries
#lsbcn
The Lean Startup - Why?
assumptionsIt’s Obvious that Everybody Wants It!...Obviously with All this Features!...and sure with this Pricing Model!
...discover too late that there aren’t customers!Value of The Idea = 0.00*Validated Product has Value! > 0.00*
The Lean Startup - Path To Success
Fail, Iterate, Don’t Give Up, but Learn !
Bounce Back ...Until You Find Product/Market Fit
...Without Running Out of Money
The Lean Startup
The Lean Startup
Product Development Team Tackles the Solution
in parallel with
Customer Development Team Testing The Problem-Customer-Solution Assumptions
Agile Software Development
Use of Open Source Frameworks, Tools
Code, Test Permanently->Continuous DeploymentDocument Meanwhile
Kanban BoardBacklog -> In Process -> Finished -> VALIDATED
blossom.io kanbanery.com
Customer Development
1) Search for a Business (iterate) Customer Discovery pivoting Customer Validation
2) Growth a Business (execution) Customer Creation
Company Building
The Lean Startup Loop
MVP Minimum Viable Product
Ask Minimal Required Needs toPotential Customers/Early Evangelists
Collect the maximum amount of validated learning about customers with the least effort
1) What are you trying to Learn? 2) With which Data? 3) What Measures Success/Failure?
Metrics
Vanity Metrics vs Actionable Accessible Auditable
Pivot Or Persevere
Your Idea is Probably Wrong
A Pivot is a special kind of change designed to test a new fundamental hypothesis about the product, business model, and engine of growth
Nintendo ~ From Hanafuda CardsPayPal ~ From Palm Money WalletFlickr ~ From MMO
Lean Startup 5 Principles
Lean Startup 5 Principles
1 Entrepreneurs Are Everywhere
The goal is NOT to optimize for profit, margin, or growth.
The goal is that any change that accelerates learning is a win, and everything else is waste.
Lean Startup 5 Principles
2 Entrepreneurship is Management
A set of management principles that seek to test assumptions and eliminate unknowns.
By talking to customers… By building simple products… By measuring the effect of our work...
Lean Startup 5 Principles
3 Validated Learning
Constantly experimenting with new product features and product marketing to increase the yield on each new crop of customers they bring in.
Learn what works and what doesn't.
Lean Startup Principles
4 Innovation Accounting
1) Use a minimal viable product MVP
2) From the Baseline to the Ideal
3) Persevere or Pivot
Lean Startup 5 Principles
5 Build-Measure-Learn
Ideas -> Code -> Data
theleanstartup.com/principles
Lean Startup Top 5 Myths
Lean Startup Top 5 Myths
Myth 1 Lean means cheap. Lean startups try to spend as little money as possible.
The Lean Startup method is not about cost, it is about speed.
Lean Startup Top 5 Myths
Myth 2 The Lean Startup methodology is only for Web 2.0, Internet and consumer software companies.
The Lean Startup methodology applies to all companies that face uncertainty about what customers will want.
Lean Startup Top 5 Myths
Myth 3 Lean Startups are bootstrapped startups.
What differentiates them is their disciplined approach to determining when to spend money.
Lean Startup Top 5 Myths
Myth 4 Lean Startups are very small companies
Established companies have as much to gain from lean startup techniques as the mythical “two guys in a garage”
Lean Startup Top 5 Myths
Myth 5 Lean Startups replace vision with data or customer feedback
Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality.
http://reut.rs/GXW3Vd
#lsbcn
In Case You're Sleeping...
Steve Blank steveblank.com
Eric Ries startuplessonslearned.com
Thank You!
@JaumeTeixiBarcelona
29/03/2012
Lean Startup BCN :: Inaugural Meeting