- 1. Lean Startup OverviewPresented by Quang Nguyen (Sebastian) ,
MBA, PMP, TESOL
2. Little self-introduction Strong passion in entrepreneurship
andeducation Solid belief that entrepreneurship can be taughtand
passion can be inspired Strong desire to make HCMC the next
SiliconValley Facebook: @qtheboss Slideshare: @qtheboss Twitter:
@nvquangvn Blog: http://nhakhoinghiep.wordpress.com/ 3. Agenda What
Why Where When Who How 4. Warning I am here to learn, not to teach
I do not like good words. I love hear you saysNo, youre wrong. I
have no credit for Lean Startup I have no credit for any
intelligent work on thisslides, including images,
terminologies,processes, philosophies The context is web startup 5.
So who got the credit forLean Startup?Eric Ries Steve Blank
Co-founder and CTO of IMVU Retired serial entrepreneur
Entrepreneur-in-Residence at Built 8 startups in 21 yearsHarvard
Business school, 2010 including MIPS Computers Best Young
Entrepreneur of Tech, Now teaching Entrepreneurship at2007
Berkeley, Stanford, and Columbia Startup advisory 6. What is Lean?
7. And lean is everywhere 8. So what is lean startup Product/market
fit means being in a goodmarket with a product that can satisfy
thatmarket. Lean Startup is a method of testing theassumptions and
hypothesis of a business ideain an iterative manner while
validating yourproduct/market fit before you ship a
completeproduct. The key is to eliminate waste. 9. Webvan An online
grocery business thatpromised to deliver products tocustomers homes
within 30minutes Backed up by Benchmark Capital,Sequoia Capital,
Softbank Capital,Goldman Sachs, and Yahoo! The largest dotcom
failure inhistory Why failed? Untested plan Grew too fast 10. Why
should we care? 11. Where on earth do people use Lean? 12. Who
actually used Lean Startup? Dropbox (www.dropbox.com) Peernuts
(www.peernuts.com) Peernuts is a sharing platform for cultural
goods. Youjust have to log in, list your library, connect with
yourfriends and get access to the hundreds of films, books,video
games, comics they want to share with you. Right now, Peernuts is
in beta mode, available inFrench and just for DVDs. And a lot more:
IMVU, Votizen, KISSMetric,Aarkvard, Hearsay, Epic Scale, Food on
the Table,Pbworks, 13. Dropbox - 1st Launch 14. Dropbox - 2nd
Launch 15. Dropbox - 3rd Launch 16. Dropbox - Key Lessons Public
launch in Sep 2008 Ignored mainstream PR Did not focus on building
lots of features Invested heavily in analytics, such as
survey,split tests, landing page, signup flowoptimization, sharing
encouragement 17. Peernuts homepage 18. Peernuts Blogging before
Coding Step #1: A short blog post 10-question poll No code AT ALL
19. Peernuts Market shrinking Step #2: Is your market really big
and totally bullish? If yes,youre missing the point. If its big
thats too big.Start shrinking your market! Started with DVD 20.
Peernuts Feature Burner Test #3: Ask yourself if you have more than
3 features. If yes,youre too fat. 3 features: a movie listing
powered by an external movie database a loan dashboard a friend
system coupled with Facebook connect and a basic mail invitation No
rating system, no wish list, no recommendation, nonotification, no
privacy setting NOOOOO!!! 21. Peernuts No designer Step #4: First
product ship objective is to learn, learn, andlearn. Dont depress
if you dont have a wonderful logo.It looks weird but if you dont
care, it will just befine! Remember: you dont need the perfect
productbut a working prototype. 22. Peernuts Procrastination Did
you postponeproduct ship for the3rd time? If yes, stopmessing
around.Release it! Learn with yourcustomers > Refineuseless
aspects ofyour product 23. Peernuts - Conclusion Right now:
Peernuts doesnt work. But: we have a great feedback on the service
we arebuilding Will we add features? NO Increase customer
performance Will we start massive communication? NO Wait until the
virality rate > 1 Will we work on our market? YES We dont have
the correct positioning yet. Is it okay to not consider any
business model for themoment? 24. Extra: The Lean Startup 25. How
to use Lean Startup? Lean Canvas Key Metrics MVP (Minimum Viable
Product) Build Measure Learn loop Customer Development 26. Lean
Canvas 27. Customer Lifecycle /Conversion Behavior 28. Key Metrics
- AARRR 29. Before Product / Market Fit 30. After Product / Market
Fit 31. Minimum Viable Product (MVP) MVP is the product with just
the necessaryfeatures to get money and/or feedback fromearly
adopters. Do MVPs seem abstract to you? 32. MVP examples1. If Apple
can launch a smartphone without Find or Cut-and-Paste, what can
youcut out of your product requirements? Sramana Mitra2. USV-backed
foursquare uses Google Docs to collect customer feedback. No
code,no maintenance.3. Fliggo sells it before they build it.4.
Grockit puts up a notify-me-when-you-release form on steroids.5.
Auto e-commerce site uses manualation and flintstoning for their
backend.6. Semiconductor company uses 5 people and FPGAs to build a
$100Msemiconductor product line.7. Consumer company uses fake
screenshots to sell their product.8. Allicator uses Facebook ads:
Ditch Digger? Feeling spread thin? Click here tocomplete a survey
and tell us about it.9. ManyWheels uses Microsoft Visio to build
clickable web demos for prospectivecustomers.10. Cloudfire uses a
classic customer development problem presentation. 33. Build
Measure Learn loop 34. Customer Development (cont) 35. Traditional
Product Development 36. Agile Development 37. Product Development
at Lean Startup 38. Conclusion Think big but start small. The
longer you survive, the higher chance youwill succeed. If you have
to fail, fail it early and cheaply. Its new. So be skeptical. 39.
Q&A
