Embed Size (px)
DESCRIPTION
Citation preview
Lean Startup Principles
Do not open the kit until I say GO!
Build the tallest freestanding structure.The entire marshmallow must be on the very top.
You’ll have 18 minutes.
Use as much or as little of the kit contents as you want, but nothing else!
EXERCISE
“I wish I knew that sooner.”
Our job is to bring ourselves the bad news sooner.
Care too much about their ideas, and look for certainty in process.
1st timers
Care too much about their ideas, and look for certainty in process.
1st timers
Care more about opportunity cost,and look for certainty in evidence.
Experienced founders
Build
Learn
Measure
Principles,not process.
PrinciplesIterationDo LessImprove the big pictureLearn, then confirmCourse-correction
Agency5 startupsLeancamp
Salim Virani
Rob FitzpatrickY CombinatorStartup ToolkitThe Mom Test
I know this. I don’t know this.
I know this. I think I know this.
Our learning goals today.
POST UP
Do less.
Don’t work hard to mask your inefficiency.
Not enough time?Not enough money?
Grow with efficiency.
How to Do Less.Time limits.Letting go.Being picky about customers.Multiplying deliberately.Limiting work-in-progress.
Inside the building -Use a timer.
DISCUSSION
Good for vision, inventing and improving.
Bad for getting stuck on specifics that don’t work.
Tenacity
Balancing focus &opportunity
What I can do
What I’vegot
Small partnerships.
Affordable Loss.
Grow like weeds!Spring up in unexpected places.Grow quickly, or die and move on.
0101001,00010,000100,0001,000,00010,000,000
Add a zero
Is this conversation useful?
Early traction.
EarlyvangelistsHave the problem
Know they have the problem!Have budget to solve it.
Have looked for a solution.Have tried to build a solution.
EXERCISE
Slicing off segmentsThey are real people (not attributes!)
It’s clear where to find them.You’ll walk away if they aren’t a good fit.
EXERCISE
Choose your customer.
Lack of direction.
Vague customer definitions.
Multiple customer definitions.
Specific definitions allow for validation or invalidation.
And that speeds progress.
Take a look at the customers’ worldLooking at different aspects of their lives, we’ll examine our own beliefs about them, who they are – and if they really exist, how to frame our value in their context.
Find early adopters.Find specific customers.
Specific value propositions are more compelling and help you get early traction.
Specific customer definitions help find them quickly, and point out scalable channels to reach them.
Zoom in!
Product Market
Action Customer
Jobs Obstacles Goals Current Solution
Customer Slicing
Decision Trigger
Interest Trigger
EXERCISE
Jobs Obstacles Goals Current Solution
Customer Slicing
Decision Trigger
Interest Trigger
How deep do you go?
EXERCISE
Jobs Obstacles Goals Current Solution
Customer Slicing
Decision Trigger
Interest Trigger
How deep do you go?They are real people (not attributes!)
EXERCISE
Jobs Obstacles Goals Current Solution
Customer Slicing
Decision Trigger
Interest Trigger
How deep do you go?They are real people (not attributes!)It’s clear where to find them.
EXERCISE
Jobs Obstacles Goals Current Solution
Customer Slicing
Decision Trigger
Interest Trigger
How deep do you go?They are real people (not attributes!)It’s clear where to find them.You’ll walk away if they aren’t a good fit.
EXERCISE
Limit your work in progress.
Seeing the big picture.
7 DomainsGrowth EnginesBusiness Model Design
Big Picture Lenses
7 ways to die.Choose none.
IndustryMarket
Macro
Micro
Trends
Connections
Alignment Skills
Establishment
Customer Need & Behaviour
Lock-in & copyability Modified from 7 Domains,
From The New Business Road Test, by John Mullins
StickyPaid AcquisitionViral
Understanding growth
Growth Engines,from The Lean Startup by Eric Ries
DISCUSSION
Business Model Design
Navigating through options, hypotheses & environmental changes.
Understanding dynamics between parts & articulating a clear story.
Parts
Whole
Progress
Checklists & dashboards1
2
3
Faster production
Production
Clothinglabels &
distributors
Faster production
Production
Clothinglabels &
distributors
Faster tomarket
Faster production
Production
Clothinglabels &
distributors
Faster tomarket
Faster production
Production
Production fees
Faster production
Production
Designers
Consumers
Fan BaseFaster production
Production
Designers
Consumers
Fan Base
You design -
we do the rest.
Faster production
Production
Pool of talent
Designers
Consumers
Fan Base
You design -
we do the rest.
Faster production
ProductionOnlinetools
Pool of talent
Designers
Consumers
Fan Base
You design -
we do the rest.
Faster production
Production
Personalsupport
Onlinetools
Pool of talent
Designers
Consumers
Fan BaseFacebookFacebook
You design -
we do the rest.
Faster production
Production
Personalsupport
Onlinetools
Pool of talent
Designers
Consumers
Fan Base
Selling Clothes
FacebookFacebook
You design -
we do the rest.
Faster production
Production
Personalsupport
Onlinetools
Pool of talent
Designers
Consumers
Fan Base
Selling Clothes
FacebookFacebook
You design -
we do the rest.
Faster production
Production
Personalsupport
Onlinetools
Pool of talent
Emerging
Designers
Designers
Consumers
Fan Base
Selling Clothes
FacebookFacebook
You design -
we do the rest.
Faster production
Production
Personalsupport
Onlinetools
Pool of talent
Emerging
Designers
Good for vision, inventing and improving.
Bad for getting stuck on specifics that don’t work.
Tenacity
Platform
Tuesday, 14 June 2011
Platform
Tuesday, 14 June 2011
Platform
Tuesday, 14 June 2011
Platform
Tuesday, 14 June 2011
Mass customisation
Value-basedpricing
App sale +in-app purchase Subscription
Transactional
Multi-sidedmarket
Licensing
CrowdsourceAd-supported
Event-supported
SaaS
Bundling
Viral
Direct-over-viral
Purchase-timing
Startups are
learning organisations.
2 stages of learning
Discovery Validation
2 stages of learning
Learn Confirm
2 stages of learning
Ask Sell
2 stages of learning
Observe Experiment
Does anyone care at all?
Do we understand the industry?
Does anyone care at all?
Do we understand the industry?
Will any pay for it?
Are we building the right product?
Image by wstryderImage by wstryder
Image by wstryderImage by wstryder
A customer wakes up, turns on their computer, logs in to their email using a new program they use and love.
Their free trial is over. The program asks them to pay. They say no.
Why?
One day...
www.foundercentric.com
Where is the love?
Anyone will tell you that your idea is great if you annoy them long enough.
Dear Mom,
Don’t you think I’m great?
Love,Your son
Actually, not just your mom lies.Your customers are full of shit too.
www.foundercentric.com
Past, not futureFact, not opinionSpecifics, not general
(Talk about their life, not your idea.)
The Mom Test
www.foundercentric.com
Good or bad questions?
❝
❞
Do you think it’s a good idea?
❝
❞
Do you think it’s a good idea?
❝
❞
Would you buy a product which solved this problem?
❝
❞
Would you buy a product which solved this problem?
❝
❞
How do you currently deal with this problem?
❝
❞
How do you currently deal with this problem?
❝
❞
How have you dealt with this problem?
❝
❞
When does this problem pop up?
❝
❞
When does this problem pop up?
❝
❞
When’s the last time that happened?
❝
❞
What makes this time-consuming or go off-track?
❝
❞
What makes this time-consuming or go off-track?
❝
❞
Has this ever been more time-consuming than normal or gone off-track?
How’s it going with .... ?
Interesting. Tell me more about that.
Can we go back to what you were saying about...?
Hi.
www.foundercentric.com
EXERCISE
❝
❞
Please show me how you...
❝
❞
Please show me how you...
❝
❞
Please tell me how... I’m trying to learn how you...
❝
❞
Please tell me how... I’m trying to learn how you...
❝
❞
Talk me through the last time you had this problem.
❝
❞
Talk me through the last time you had this problem.
❝
❞
What did you try to do about it?
❝
❞
What did you try to do about it?
Their words - not yours!One phrase per card.Pair. One interviewer, one notetaker.
Recording the right stuff.
Person Job Problem Measure Solution Excited Guilty Upset
Important signals
❝
❞
Please help me understand...
❝
❞
Please help me understand...
❝
❞
How much would you pay for this?
❝
❞
How much would you pay for this?
❝
❞
Can I ask why?
❝
❞
Can I ask why?
❝
❞
Talk me through how you decide.
❝
❞
Talk me through how you decide.
❝
❞
Talk me through how you decided.
❝
❞
How much money does this problem cost you?
❝
❞
How much money does this problem cost you?
❝
❞
How much money does this problem cost you?
❝
❞
How much should we charge?
❝
❞
How much should we charge?
❝
❞
What’s your budget?
❝
❞
What’s your budget?
❝
❞
How soon can you start?
❝
❞
How soon can you start?
❝
❞
What would need to happen before you could really start using it?
❝
❞
What would need to happen before you could really start using it?
❝
❞
Ever had any problems or delays getting something like this going/bought?
❝
❞
Who else should I talk to?
❝
❞
Who else should I talk to?
Opinions are worthless.
Always know your big 3 questions.
Tweetable TextHow do authors pre-build their customer list?How do authors test copy and learn about their readers?How do authors prioritise their time when writing?
LeancampWhat awareness channels can we partner with?What do people learn at Leancamp that they apply?What do famous thought-leaders get out of conferences?
What are your Big 3 right now?Does it do what it says on the tin?Can we make it usable enough?Do people really, truly want it?What could kill you?
Take 3 minutes to write them down.Are they to learn or confirm?
EXERCISE
2 stages of learning
Discovery Validation
2 stages of learning
Learn Confirm
So, we had a meeting!
❝
❞Claudia
Sounds great. I love it!
❝
❞Claudia
Sounds great. I love it!
❝
❞Jeremy
Brilliant -- let me know when it launches!
❝
❞Jeremy
Brilliant -- let me know when it launches!
Compliment?Stalling tactic?
They don’t care. :(
❝
❞Jeremy
There are a couple people I can intro you to, when you’re ready.
❝
❞Jeremy
There are a couple people I can intro you to, when you’re ready.
Partial commitment?
Validate by going for full commitment.
❝
❞Claudia
I would definitely buy that!
❝
❞Claudia
I would definitely buy that!
DANGER!
Meetings succeed when they advance to the next step.
Examples of advancement> Permission to contact again> Clear next meeting> Introduction to decision-maker> Commitment to run a trial> Pre-purchase
Real learning comes from
Facts Commitment
www.momtestbook.comwww.signal.ly
www.custdevcards.com
Course-correction
“I wish I knew that sooner.”
Building with a heartbeat.
Build
Learn
Measure
Minimum ViableWhat is the minimum thing I need to build
to prove or disprove this?
Pick a learning goalWhat big make-or-break risks or idea is the one you want to nail down this week?
(Hint: use the Canvas or metrics to make sure it’s relevant.)
EXERCISE
Start with your learning goal.
Pick a learning goal.Pick a measurement.Draw your MVP on a blank sheet.
Build
Learn
Measure
IterationDo LessImprove the big pictureLearn, then confirmCourse-correction
Principles
Build
Learn
Measure
2 stages of learning
Learn Confirm
Make it your own.
So, Prezi goes into education...
EXERCISE
What are your Big 3 right now?Does it do what it says on the tin?Can we make it usable enough?Do people really, truly want it?What could kill you?
Take 3 minutes to write them down.Are they to learn or confirm?
EXERCISE
2 stages of learning
Learn Confirm
How’s it going with .... ?
Interesting. Tell me more about that.
Can we go back to what you were saying about...?
Hi.
www.foundercentric.com
Person Job Problem Measure Solution Excited Guilty Upset
Their words - not yours!One phrase per card.
Pair. One interviewer, one notetaker.
Recording the right stuff.
Past, not futureFact, not opinionSpecifics, not general
(Talk about their life, not your idea.)
The Mom Test
www.foundercentric.com
